Daily Current Affairs – February 10 & 11, 2024
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Daily Current Affairs - Banking - February 10 & 11, 2024
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National News
Confederation of International Small Tea Holders' headquarters was shifted to India
- During the 25th session of Food and Agricultural Organisation Intergovernmental Group on Tea (FAO IGG on Tea) held in Guwahati the headquarters of the Confederation of International Small Tea Holders (CITS) will shift to India from China.
- The FAO IGG on Tea is the highest global platform for tea wherein all tea-producing and consuming nations deliberate on trends in production, consumption, trade and prices of tea, including regular appraisal of the global market situation and short-term outlook.
- India took over as the chair of the FAO IGG on Tea from the United Kingdom for the next two years and the session was presided over by Saurav Pahari, deputy chairman of Tea Board India.
- The central and Assam governments informed the IGG on Tea the steps it has taken for development of small holders.
- Setting up a dedicated research and development centre at Tea Research Association (TRA), Tocklai, in Assam’s Jorhat district was among the government initiatives.
- Sri Lanka will host the next IGG session after two years.
- Food and Agriculture Organization of the United Nations (FAO) – 16/10/1945 (Founded) – Rome (HQ) – Qu Dongyu (Director General)
International News
Sonam Lhosar being celebrated in Nepal
- The Tamang community of Nepal is celebrating the New Year calling it ‘Sonam Lhosar’ by organising various programs.
- It is a public holiday in the Himalayan nation.
- The Tamang community is populated in different districts of the Bagmati region.
- According to the Manjushree calendar, the 2860th year starts from February 10, the tiger year enters after completing the cow year.
- Sonam Lhosar festival is celebrated yearly on the occasion of Magh Shukla Pratipada.
- Sonam Lhosar is divided into 12 categories: rat, cow, tiger, rabbit, dragon (cloud), snake, horse, sheep, monkey, bird, dog and pig.
- Musical and dance performances are organised in Tundikhel of Kathmandu Valley where Tamangs wear their traditional attire and gather to celebrate Sonam Lhosar.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Language)
State News
Prime Minister dedicates and lay foundation stone of over 1.3 lakh houses in Gujarat
- Prime Minister Narendra Modi virtually dedicated and laid the foundation stone of over 1.3 lakh houses across Gujarat built under PM Awas Yojana and other housing schemes.
- The programme was organised at 182 places in the state covering all the assembly constituencies and witnessing the participation of around 10 lakh people including the beneficiaries of various schemes.
Prime Minister lays foundation stone for multiple development projects in Jhabua, Madhya Pradesh
- The Prime Minister, Narendra Modi dedicated to the nation and laid the foundation stone for multiple development projects worth about ₹7300 crores in Jhabua, Madhya Pradesh.
- These development projects will benefit the significant tribal population of the region, strengthen the water supply and provisioning of drinking water while also giving a boost to road, rail, power and education sectors in Madhya Pradesh.
- The Prime Minister disbursed monthly instalment of Aahar Anudan to about 2 lakh women beneficiaries from specially backward tribes, distributed 1.75 lakh adhikar abhilekh (record of rights) to beneficiaries of SVAMITVA Scheme and transferred ₹55.9 crores for 559 villages under Pradhan Mantri Adarsh Gram Yojana.
Schemes
Sikkim Restores Old Pension Scheme
- Sikkim Chief Minister Prem Singh Tamang announced the restoration of the Old Pension System for state government employees appointed on or after April 1, 2006.
- The state has decided to restore the old pension system to bring government employees appointed on or after April 1, 2006, under the provision of Sikkim services (pension) rules 1990, as applicable to the employees appointed on or before 03.2006.
Banking and Finance
ADB Approved $200 Million Loan to Strengthen Flood and Riverbank Erosion Risk Management in Assam
- The Asian Development Bank (ADB) has approved a $200 million loan to strengthen flood and riverbank erosion risk management along the 650 kilometers (km) long main stem of the Brahmaputra River in Assam, India.
- The project builds on the success and lessons from the ADB-financed Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program (2010–2020) and similar investments in Bangladesh and will continue to tackle recurrent flooding and continual riverbank erosion of the Brahmaputra River.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 49 countries (Regional members) & 19 countries (non regional members)
UPI services launched in Sri Lanka and Mauritius
- Sri Lanka and Mauritius are going to be the latest countries to enable the Indian digital payment system by launching Unified Payments Interface (UPI) after France.
- RuPay cards will also be introduced in
- Prime Minister Narendra Modi will join his Mauritian counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe virtually witness the launch event
- Mauritius – Port Louis (Capital) –Mauritian rupee (Currency) – Prithvirajsing Roopun (President) – Pravind Jugnauth (Prime Minister) – English & French (Language)
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Language)
Agreements and MoUs signed
Punjab & Sind Bank signed agreement WDRA to offer low-interest loans for farmers
- The Warehousing Development Regulatory Authority (WDRA) and Punjab & Sind Bank (PSB) have signed a Memorandum of Understanding (MoU) to support farmers and traders with low-interest rate loans.
- The primary objective of the MoU is to raise awareness about funding against electronic Negotiable Warehouse Receipts (e-NWRs).
- The NWR system enables farmers to store the produce safely and scientifically at warehouses near their farms. It also allows farmers to receive loans from banks using the issued NWRs against their deposited stock.
- The e-NWR is a digital receipt that is issued by the regulatory body, WRDA.
- The eNWR can be used by farmers to finance and trade in settlements without physically exchanging goods.
- The MoU, therefore, will further enhance agricultural pledge finance in India through outreach activities.
- Punjab & Sind Bank – 24/06/1908 (Founded) – New Delhi (HQ) – Swarup Kumar Saha (MD & CEO) – Where service is a way of life (tagline)
C-DOT and Indian Institute of Technology, Kharagpur (IIT-K) signed an agreement for ‘Developing Prototypes for 10-Gigabit-capable symmetric passive optical Network (i.e., XGS-PON) Optical Line Terminal (OLT) and Optical Network Unit (ONU)
- C-DOT, the premier Telecom R&D centre of the Department of Telecommunications (DoT) and Indian Institute of Technology, Kharagpur (IIT-K) signed an agreement for ‘Developing Prototypes for 10-Gigabit-capable symmetric Passive Optical Network (i.e., XGS-PON) Optical Line Terminal (OLT) and Optical Network Unit (ONU).
- The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of Department of Telecommunications, which is a scheme for providing funding support to domestic companies and institutions involved in technology design, development, commercialization of telecommunication products and solutions to enable affordable broadband and mobile services in rural and remote areas.
- Under this project, IIT Kharagpur will develop prototypes for 10-Gigabit-capable symmetric passive optical network (i.e., XGS-PON) optical line terminal (OLT) and optical network unit (ONU).
- It is envisioned that the project will yield new design, development, and commercialization of the state-of-the-art 10 Gbps upstream and downstream access network technology solution.
- This will facilitate growth of affordable broadband and mobile services in India.
IREDA signs MoU IIT Bhubaneswar for Clean Energy Innovation
- Indian Renewable Energy Development Agency Ltd. (IREDA) has taken a significant step towards fostering innovation and research in the renewable energy sector, by signing a Memorandum of Understanding (MoU) with Indian Institute of Technology, Bhubaneswar.
- The MoU signed at the 100 Cube Start-up Conclave held at IIT Bhubaneswar, aims to support collaborative efforts in innovation and research initiatives, technology transfer, and nurturing the start-up ecosystem.
- The collaboration between IREDA and IIT Bhubaneswar is poised to facilitate joint research efforts, facilitate technology transfer, and provide comprehensive support for the start-up ecosystem.
- It will also encompass capacity-building initiatives such as training programs, seminars, and workshops to enhance the skills of IREDA officials.
- The MoU was signed by Chairman & Managing Director of IREDA Pradip Kumar Das, and Independent Director of IIT Bhubaneswar Debi Prasad Dogra, in the presence of Union Minister for Education, Skill Development & Entrepreneurship Dharmendra Pradhanand Director of IIT Bhubaneswar, Prof. Shreepad Karmalkar.
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Google signed MoU with Maharashtra government to collaborate for AI-led development
- Google has joined hands with the Maharashtra government to collaborate and drive innovative and scalable solutions in key sectors including agriculture, healthcare, sustainability, education, and startups.
- The company has signed a Memorandum of Understanding (MoU) for the same which will allow the government to leverage Google’s AI leadership and technology expertise to unlock new possibilities in land record management, disease detection, urban environment resilience and AI upskilling amongst others.
ACME Group signed agreement with IGX to explore collaborations for green hydrogen, ammonia projects
- ACME Group has signed an agreement with gas exchange IGX to explore opportunities of collaborations for developing green hydrogen and ammonia projects in India.
- The Memorandum of Understanding (MoU) was signed between Manoj Kumar Upadhyay, Founder and Chairman of ACME Group, and Rajesh Kumar Mediratta, Managing Director and CEO of IGX, at the ongoing India Energy Week in Goa.
- The agreement covers the partnership across the green hydrogen and ammonia value chain, starting from production to logistics and supply to the industrial customers for use in a range of applications and reduce the overall emissions contributing to the national decarbonization targets.
Science and Technology
‘SWATI’ Portal launched in New Delhi to create a single online portal representing Indian Women and Girls in STEMM
- Principal Scientific Advisor to the Government of India Prof Ajay Kumar Sood launched “Science for Women-A Technology & Innovation (SWATI)” Portal, aimed at creating a single online portal representing Indian Women and Girls in STEMM (Science, Technology, Engineering, Mathematics & Medicine)
- Launching the Portal on the occasion of International Day of Women and Girls in Science at Indian National Science Academy (INSA), New Delhi.
- The database of SWATI Portal will serve in policy making to address the challenges of Gender-gap.
- The Portal is a complete interactive database; and the first-of-its-kind in India which is developed, hosted and maintained by the National Institute of Plant Genome Research (NIPGR), New Delhi under the leadership of Dr. Subhra Chakraborty, Director, NIPGR, New Delhi.
Acquisitions and Mergers
BFHL received IRDAI approval for acquiring AEGON Life Insurance
- Bandhan Financial Holdings Limited (BFHL) had secured the final regulatory approval to acquire AEGON Life Insurance by Insurance Regulatory & Development Authority (IRDAI).
- The acquisition of Aegon Life Insurance was first announced in July 2023.
- AEGON Life Insurance Company Limited – 2008 (Founded) – Mumbai (HQ) – Satishwar Balakrishnan (MD & CEO)
Appointments
Lebanon’s Nawaf Salam Elected President of the International Court of Justice
- The International Court of Justice (ICJ) in The Hague elected Lebanese judge Nawaf Salam as its president for a three-year term succeeding US Judge Joan Donoghue.
- Former Lebanese Foreign Minister Fouad Ammoun also served as a judge in the Court between 1965 and 1976 and was elected vice president.
- The International Court of Justice comprises 15 judges elected to nine-year terms of office by the United Nations General Assembly and the Security Council.
- He is the first Lebanese and second Arab to occupy this position, after the former Algerian Foreign Minister and President of the Constitutional Court, Mohamed Bedjaoui.
NPCI appoints Ajay Kumar Choudhary as non-executive chairman of board
- The National Payments Corporation of India (NPCI) announced the appointment of Ajay Kumar Choudhary as non-executive chairman of the Board and independent director for a period of three years starting February 8, 2024.
- He succeeded Biswamohan Mahapatra who was appointed non-executive chairman in
- National Payments Corporation of India – 2008 (Founded) – Mumbai (HQ) – Dilip Asbe (MD & CEO)
Former PM Stubb wins Finland presidential election
- Former Prime Minister, triathlete and Europhile Alexander Stubb secured a triumphant return to politics after a seven-year hiatus, won the Finnish president election.
- He will replace Sauli Väinämö Niinistö.
- Finland – Helsinki (Capital) – Euro (Currency) – Alexander Stubb (President) – Petteri Orpo (Prime Minister) – Finnish & Swedish (Language)
Paytm forms advisory committee under former Sebi chief Damodaran
- The board of One97 Communications Ltd, the company that runs the Paytm payments app, has formed a panel headed by Damodaran, a former chairman of India’s markets regulator, to advise Paytm Payments Bank Ltd on compliance and regulation a day after the banking regulator criticised the lender for repeated non-compliance of rules.
- The committee, led by Damodaran and comprising two other members, will work with the board of One97 Communications to strengthen compliance and regulatory matters.
- The committee includes M. Chitale, a former president of the Institute of Chartered Accountants of India (ICAI) and a former governing Council Member of the Banking Codes and Standards Board of India, along with banker R. Ramachandran, a former Chairman and Managing Director of Andhra Bank.
Awards and Recognitions
Veteran Music Composer Pyarelal Sharma Conferred with Lakshminarayana International Award
- ‘My Name Is Lakhan’ composer Pyarelal Sharma, one half of the iconic composer duo Laxmikant-Pyarelal, has been felicitated with the Lakshminarayana International Award by musicians L Subramaniam and Kavita Krishnamurti Subramaniam as part of the Lakshminarayana Global Music Festival.
- He was also announced as a recipient of the Padma Bhushan this year.
Important Days
International Arabian Leopard Day 2024
- International Arabian Leopard Day is annually observed on February 10.
- The day is celebrated to help raise awareness for the critically endangered big cat that once roamed widely across this region.
- The Arabian leopard (Panthera pardus nimr) is a critically endangered leopard subspecies that inhabits the Arabian Peninsula.
- It is one of the smallest leopard subspecies, with an average weight of 30-40 kg for males and 25-35 kg for females.
- Its fur is pale and buff-colored with rosettes that are small and closely spaced.
- The Arabian leopard has a very limited distribution, being found only in a few isolated pockets of habitat in Saudi Arabia, Oman, Yemen, and the United Arab Emirates.
- Estimates suggest there may be fewer than 200 Arabian leopards left in the wild.
- The United Nations General Assembly has proclaimed 10 February as the International Day of the Arabian Leopard in resolution 77/295.
- This year is the first edition.
World Pulses Day 2024
- World Pulses Day is annually observed on February 10.
- The Day is celebrated every year to create awareness about the significance of pulses and how it can help in body functions.
- In 2018, February 10 was declared as World Pulses Day by the United Nations General Assembly.
- In 2013, the United Nations General Assembly adopted the resolution to observe 2016 as the International Year of Pulses.
World Day of the Sick 2024
- World Day of the Sick is annually observed on February 11.
- The day is dedicated to those suffering from illnesses and it is observed with a view to raise awareness about the importance of healthcare and the need for compassion and support for the sick.
- The day was first established by Pope John Paul II in May 13 1992.
International Day of Women and Girls in Science 2024
- International Day of Women and Girls in Science is annually observed on February 11.
- The day is observed by the United Nations to promote full and equal access and participation of women in science, technology, engineering and mathematics (STEM) fields.
- This year will be the 9th International Day of Women and Girls in Science Assembly.
- On March 14 2011, the Commission on the Status of Women adopted a report at its fifty-fifth session, with agreed conclusions on access and participation of women and girls in education, training and science and technology, and for the promotion of women’s equal access to full employment and decent work.
- On December 20 2013, the General Assembly adopted a resolution on science, technology and innovation for development, in which it recognized that full and equal access to and participation in science, technology and innovation for women and girls of all ages is imperative for achieving gender equality and the empowerment of women and girls.
- Theme – Women in Science Leadership: A New Era for Sustainability
Daily Current Affairs - February 10 & 11, 2024 - Consolidated
- Confederation of International Small Tea Holders’ headquarters was shifted to India
- Sonam Lhosar being celebrated in Nepal
- Prime Minister dedicates and lay foundation stone of over 1.3 lakh houses in Gujarat
- Prime Minister lays foundation stone for multiple development projects in Jhabua, Madhya Pradesh
- Sikkim Restores Old Pension Scheme
- ADB Approved $200 Million Loan to Strengthen Flood and Riverbank Erosion Risk Management in Assam
- UPI services launched in Sri Lanka and Mauritius
- Punjab & Sind Bank signed agreement WDRA to offer low-interest loans for farmers
- C-DOT and Indian Institute of Technology, Kharagpur (IIT-K) signed an agreement for ‘Developing Prototypes for 10-Gigabit-capable symmetric passive optical Network (i.e., XGS-PON) Optical Line Terminal (OLT) and Optical Network Unit (ONU)
- IREDA signs MoU IIT Bhubaneswar for Clean Energy Innovation
- Google signed MoU with Maharashtra government to collaborate for AI-led development
- ACME Group signed agreement with IGX to explore collaborations for green hydrogen, ammonia projects
- ‘SWATI’ Portal launched in New Delhi to create a single online portal representing Indian Women and Girls in STEMM
- BFHL received IRDAI approval for acquiring AEGON Life Insurance
- Lebanon’s Nawaf Salam Elected President of the International Court of Justice
- NPCI appoints Ajay Kumar Choudhary as non-executive chairman of board
- Former PM Stubb wins Finland presidential election
- Paytm forms advisory committee under former Sebi chief Damodaran
- Veteran Music Composer Pyarelal Sharma Conferred with Lakshminarayana International Award
- International Arabian Leopard Day 2024
- World Pulses Day 2024
- World Day of the Sick 2024
- International Day of Women and Girls in Science 2024
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