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Daily Current Affairs – February 12 & 13, 2024

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Daily Current Affairs - Banking - February 12 & 13, 2024

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National News

Dr. Mansukh Mandaviya launches AIIMS-SBI SMART payment card for hassle free payments in AIIMS, New Delhi

  • Union Minister for Health & Family Welfare and Chemicals & Fertilizers, Dr. Mansukh Mandaviya launched the AIIMS-SBI Smart Payment Card.
  • The AIIMS-SBI Smart Payment Card will ensure hassle free payments for treatment in AIIMS New Delhi.
  • Referring to the Smart Payment Card as ‘One AIIMS, One Card’, funds can now be transferred easily and swiftly from across the country by anyone in case of any urgent payment related requirement, for the patient being attended at AIIMS, New Delhi.
  • A Memorandum of Understanding with regards to implementation of the SBI- AIIMS New Delhi Smart card system was also signed.
  • The SBI-AIIMS Smart card is being provided free of cost to all patients and has no service charges.
  • The card once issued will be valid for a period of five years.
  • All transactions done using this card are linked to the E-Hospital functional at AIIMS.
  • Reconciliation of all financial transactions can be done by the Finance Division, AIIMS owing to the two-way integration between AIIMS & the bank.

State News

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 of today 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 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.

Manipur Chief Minister Launches Project 'Buniyaad' for Hospitality Management Skill Development

  • Manipur Chief Minister Biren Singh launched Project ‘Buniyaad- Aathma Nirbharta Ka Aadhaar’ in a function held in Imphal.
  • The Project Buniyaad is a skill development program on hospitality management to be implemented by the Honda India Foundation in collaboration with the Manipur State Rural Livelihood Mission and Visan Foundation.
  • It aims to provide employment to the unemployed youth from the marginal sections of the society.
  • Under this program, unemployed youth will receive two months training from Visan Foundation in Hospitality Management and participants will be handed over certificates from Tourism & Hospitality Skill Council.

Odisha announced One-time livelihood assistance for all PDS families

  • Odisha Chief Minister Naveen Patnaik announced a one-time livelihood cash assistance of ₹1,000 in cash to each of the 95,90,526 families (comprising 3,35,98,401 members) covered by the Public Distribution System (PDS) in Odisha.
  • The government also launched the ‘Swayam’ scheme at an estimated cost of ₹448 crores to provide ₹1 lakh as interest-free bank loans to rural unemployed youths between 18-35 years (18-40 years for special category) for initiating a new business venture.
  • They must have a family income of less than ₹2 lakhs per annum, without outstanding loans from Central and State government-supported schemes.
  • The Swayam scheme will be operational for a period of two years.

Schemes

Pradhan Mantri Surya Ghar: Muft Bijli Yojana

  • Prime Minister Narendra Modi renamed the government’s revamped rooftop solar scheme as ‘PM Surya Ghar: Muft Bijli Yojana’, which aims to solarise one crore households in India.
  • The programme aimed to boost solar power intends to provide up to 300 units of free electricity every month to households which get solar panels installed.
  • This project, with an investment of over ₹75,000 crore, aims to light up one crore households by providing up to 300 units of free electricity every month.

Banking and Finance

RBI ups remuneration ceiling of pvt sector banks’ Non-Executive Directors by ₹10 lakh to ₹30 lakh per annum

  • The Reserve Bank of India (RBI) has revised upwards the ceiling in respect of remuneration of Non-Executive Directors (NEDs), other than the Chair of the Board, to ₹30 lakhs per annum from ₹20 lakhs.
  • The aforementioned revised ceiling is applicable to NEDs of private sector banks, including Small Finance Banks (SFBs) and Payment Banks (PBs), as also the wholly owned subsidiaries of Foreign Banks.
  • Instructions in this regard have come into force with immediate effect.

Business and Economy

EPFO to marginally hike interest on PF deposits to 8.25%

  • The Central Board of Trustees (CBT) of the Employees Provident Fund Organisation (EPFO) has recommended an interest rate of 25% on provident fund (PF) deposits for 2023-24.
  • The current interest rate is 15%.
  • Employees’ Provident Fund Organisation (EPFO) – 04/03/1952 (founded) – New Delhi (HQ) – Neelam Shami Rao (Central Provident Fund Commissioner (CPFC))

Summit & Conference

NCTE in partnership with CBSE organizes 1-Day National Conference on Teacher Eligibility Test (TET) in the light of National Education Policy 2020

  • National Council for Teacher Education (NCTE), in partnership with Central Board of Secondary Education (CBSE), organized the 1-Day National Conference on Teacher Eligibility Test (TET) to discuss and deliberate upon the transformative changes required in the light of National Education Policy 2020 (NEP).
  • The National Education Policy 2020 has recommended the implementation of TET at various levels, NCTE is working towards proposing and implementing TET at the secondary level (Class 9 to Class 12).

Science and Technology

QCI and ONDC launch DigiReady certifications for MSMEs

  • The Quality Council of India (QCI) and Open Network of Digital Commerce (ONDC) has announced the launch of DigiReady Certifications (DRC) portal for MSME sector.
  • DRC portal works as an online self-assessment tool to help MSME players evaluate their preparedness to onboard on the ONDC platform as sellers.
  • DigiReady Certification (DRC) initiative is in line with our Hon’ble Prime Minister’s call to sensitize villages and promote digital transactions.
  • It also resonates with the objectives of the recently launched FIRST (Forum for Internet Retailers, Sellers, and Traders).
  • Quality Council of India (QCI) – 1997 (Founded) – New Delhi (HQ) – Jaxay Shah (Chairman)
  • Open Network for Digital Commerce (ONDC) – 31/12/2022 (Founded)

Power

JSW to invest ₹40,000 crores in Odisha for EV, parts project

  • JSW Group plans to invest ₹40,000 crores in its Electric Vehicles and component manufacturing projects in Cuttack and Paradip.
  • Both the projects are expected to create over 11,000 new jobs in the State.
  • Investing in phases, JSW Group will set up an EV and EV battery manufacturing unit at Naraj, Cuttack, at an investment of ₹25,000 crores.
  • The group will use the most advanced battery technology with a capacity of 50 GWH and will be the world’s largest single location project in the sector.
  • It will cater to both mobility and energy storage systems.

Acquisitions and Mergers

LIC raises stake in SBI Cards

  • Life Insurance Corporation of India’s (LIC) shareholding in SBI Cards and Payments Services crossed 5% with the insurer, as an investment function, acquiring recently a little more than three lakh shares in the non-banking financial company at an average cost of ₹716 per share.
  • The shareholding has increased from 99% to 5.02% (47,410,710 to 47,711,794 equity shares).
  • SBI Cards & Payment Services Limited – May 1998 (Founded) – Gurugram, Haryana (HQ) – Abhijit Chakravorty (CEO)

Appointments

Paytm Payments Bank Independent Director Manju Sharma Resigned

  • Manju Sharma, who was an independent director at crisis-ridden Paytm Payments Bank Ltd. (PPBL), resigned from the Board of the bank on February 1.
  • PPBL is an associate company of One97 Communications, which owns the brand Paytm.
  • Fintech major One97 Communications holds 49 percent stake in PPBL, while Paytm Founder Vijay Shekhar Sharma owns 51 percent in PPBL in his personal capacity.

Ranks and Indices

ISB ranked first in India, 31st globally in FT Global MBA Ranking 2024

  • The Indian School of Business (ISB) has been ranked 1st in India and 31st globally in the Financial Times (FT) Global MBA Ranking 2024.
  • While consolidating its position as the best B-school in India, the global ranking is a substantial rise from 39 in 2023.
  • At the Asia level, the ranking has gone up to 5, up from the 6th spot last year.

  • B-School

    Indian Rank

    Global Rank

    Indian School of Business

    1

    31

    Indian Institute of Management Ahmedabad

    2

    41

    Indian Institute of Management Bangalore

    3

    47

    Indian Institute of Management Calcutta

    4

    67

    Indian Institute of Management Lucknow

    5

    85

    XLRI — Xavier School of Management

    6

    99

Reports

NITI Aayog Launches Greening India's Wastelands with Agroforestry (GROW) Report and Portal

  • Prof Ramesh Chand, Member, NITI Aayog launched Greening and Restoration of Wasteland with Agroforestry (GROW) report and portal.
  • This multi-institutional effort led by NITI Aayog utilized remote sensing and GIS to assess agroforestry suitability across all districts in India.
  • Using thematic datasets, an Agroforestry Suitability Index (ASI) was developed for national-level prioritization.
  • The report provides state-wise and district-wise analysis, supporting government departments and industries for greening and restoration projects.
  • The “Greening and Restoration of Wasteland with Agroforestry (GROW)-Suitability Mapping” portal Bhuvan https://bhuvan-app1.nrsc.gov.in/asi_portal/ allows universal access to state and district-level data.
  • Currently, agroforestry covers 65% of India’s total geographical area, totalling about 28.42 million hectares.
  • Current report underscores the potential benefits of converting underutilized areas, especially wastelands, for agroforestry.
  • The GROW initiative aligns with national commitments, aiming to restore 26 million hectares of degraded land by 2030 and create an additional carbon sink of 5 to 3 billion tonnes of carbon dioxide equivalent.

Awards and Recognitions

KPP Nambiar Award conferred on ISRO Chairman S Somanath

  • Institute of Electrical and Electronic Engineers (IEEE) Kerala Section, has conferred the KPP Nambiar Award for 2024, on S Somanath, Chairman, Indian Space Research Organisation (ISRO).
  • The award is named after KPP Nambiar, doyen of electronics industry and founder-chair of IEEE Kerala Section.
  • The annual award is instituted to honour individuals or groups in Kerala, for their significant contributions to the IEEE vision of advancing technology for humanity, Muhammad Kasim, Chairman, IEEE, Kerala section.

Noida bags Centre’s water warrior award

  • The department of water resources, river development and Ganga rejuvenation of the Union water ministry has selected Noida as “water warrior” city for the steps it took for waste water treatment and reuse for irrigation purposes.
  • The Noida authority additional chief executive officer Satish Pal and deputy general manager RP Singh of the authority’s water department received the award in Delhi.

Obituary

World marathon record holder Kelvin Kiptum dies in road accident

  • World marathon record holder Kelvin Kiptum and his coach Gervais Hakizimana died in a traffic accident.
  • He set the world record at the Chicago Marathon in October 2023 with a time of 2:00:35 to surpass the record of 2:01:09 set by his compatriot Eliud Kipchoge in Berlin in 2022.

Renowned litterateur and Padma Shri awardee Usha Kiran Khan passes away

  • Renowned litterateur and Padma Shri awardee Usha Kiran Khan passed away at 78.
  • She was born at Laheriasarai in Darbhanga district in October 1945, her notable works include her Maithili novel ‘Bhamati: Ek Avismaraniya Premkatha’, for which she received the Sahitya Akademi Award, and her Hindi novel ‘Sirjanhaar’, which earned her the Kusumanjali Sahitya Samman from the Indian Council for Cultural Relations in 2012.
  • She was awarded with Padma Shri in 2015, the Sahitya Akademi Award, the Mahadevi Verma Award, the Dinakar National Award, and the Bharat-Bharati.

Artist A. Ramachandran passed away

  • Renowned artist Ramachandran passed away at 89.
  • Born in 1935 at Attingal in Thiruvananthapuram, Ramachandran was known for his monumental canvases, colourful oil and watercolour paintings.
  • The master was conferred with the Padma Bhushan award in 2005 for outstanding service to the nation.

Sports News

India won BIMSTEC Aquatics Championships 2024

  • The BIMSTEC Aquatics Championships 2024, which were held at Delhi’s Dr. Syama Prasad Mookerjee Swimming Pool Complex, are a first of its kind sports event held under BIMSTEC (The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation), which constitutes a unique link between South and South-East Asian countries with five members from South Asia (Bangladesh, Bhutan, India, Nepal and Sri Lanka) and two members from South-East Asia (Myanmar & Thailand).
  • The competitions, which were being hosted for participants of the under-20 age category, had events in swimming, water polo and diving.
  • A total of 43 events took place across three aquatics disciplines, with nine trophies including overall champions being given out.
  • Over 268 athletes from various BIMSTEC member countries participated in the event.
  • The Indian swimmers, who won a total of 19 gold medals, also took the men’s and women’s champion trophies and the men and women’s diving teams bagged the diving champions trophies.

Chennai Super Kings 2024

  • Gulf carrier Etihad Airways entered into an agreement with the Chennai Super Kings (CSK) to become its official sponsor.
  • The partnership will cover CSK’s events and platforms, while its players’ jerseys will display the Etihad logo.
  • Chennai Super Kings (CSK) has officially announced the appointment of Katrina Kaif as its brand ambassador for the upcoming Indian Premier League (IPL) 2024 season.

Important Days

National Deworming Day 2024

  • National Deworming Day is annually observed on February 10.
  • The day aims to deworm all children under the age group of 1 year to 19 years from the prevalence of Soil-Transmitted Helminths (STH).
  • The day was established in February 2015 by the Ministry of Health and Family Welfare.

World Unani Day 2024

  • World Unani Day is annually observed on February 11.
  • The day marks the birth anniversary of Indian Unani scholar Hakim Ajmal Khan, a renowned Unani practitioner and visionary who made significant contributions to the field of Unani medicine.
  • The first Unani Day was celebrated in 2017.

National Productivity Day 2024

  • National Productivity Day is annually observed on February 12 in India.
  • The Day is celebrated to commemorate the founding of the National Productivity Council (NPC).
  • The National Productivity Council was a self-governing organization founded by the Ministry of Commerce and Industry in
  • The goal of the NPC is to raise national awareness of the need to boost productivity.
  • The day is an integral part of the Indian Productivity Week which is observed from February 12 to February 18.
  • Theme – “Artificial Intelligence (AI)- Productivity Engine for Economic Growth.”

International Day for the Prevention of Violent Extremism as and when Conducive to Terrorism 2024

  • International Day for the Prevention of Violent Extremism as and when Conducive to Terrorism is annually observed on February 12.
  • On January 15 2016 the Secretary-General presented a Plan of Action to Prevent Violent Extremism to the General Assembly.
  • On February 12 2016, the General Assembly adopted a resolution welcoming the initiative by the Secretary-General, and taking note of his Plan of Action to Prevent Violent Extremism.

World Radio Day 2024

  • World Radio Day is annually observed on February 13.
  • The Day is celebrated to raise awareness among the people and the media about the importance of radio, and to encourage access to information through radio.
  • The day was proclaimed by the member states of UNESCO in 2011 and subsequently adopted by the United Nations General Assembly in 2012 as an International Day.
  • Theme – Radio: A Century informing, entertaining, and educating.

Defence

World Defense Show 2024

  • Saudi Defense Minister Prince Khalid bin Salman inaugurated the second World Defense Show in Riyadh on behalf of Crown Prince Mohammed bin Salman.
  • Held under the patronage of King Salman, the event was organized by the General Authority for Military Industries.
  • World Defense Show 2024 held under the esteemed patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, achieving significant milestones including 61 orders, totaling a value of SAR 26 billion.
  • The event boasted participation from over 773 exhibitors from 76 countries and more than 441 official delegations from 116 countries, drawing in an impressive attendance of 106,000 visitors.
  • Throughout the duration of the show, 73 MoU agreements were inked, of which 17 were offset agreements, highlighting the event’s role as a pivotal platform for global defense collaboration and innovation.
  • United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Arabic (Language)

Indian Army, Saudi Forces Conclude First Joint Exercise 'Sada Tanseeq 2024'

  • The Indian Army and Royal Saudi Land Forces completed the 12 days inaugural joint exercise ‘Sada Tanseeq 2024’ at Mahajan field firing range, Rajasthan.
  • This marks the first collaboration between the two nations in a military exercise, aimed at enhancing cooperation and interoperability.
  • The Indian contingent of the 20th Battalion of The Brigade of Guards Regiment and the Saudi Arabian contingent comprising a group of 45 soldiers of Royal Saudi Land Force participated in the exercise which was conducted in two phases.
  • The first phase focused on combat conditioning and tactical training and the second phase culminated in physical exercises and validation.
  • Saudi Arabia – Riyadh (Capital) – Saudi riyal (Currency) – Salman (King) – Mohammed bin Salman (Crown Prince & Prime Minister) – Arabic (Language)

Daily Current Affairs - February 12 & 13, 2024 - Consolidated

  • Mansukh Mandaviya launches AIIMS-SBI SMART payment card for hassle free payments in AIIMS, New Delhi
  • Prime Minister lays foundation stone for multiple development projects in Jhabua, Madhya Pradesh
  • Manipur Chief Minister Launches Project ‘Buniyaad’ for Hospitality Management Skill Development
  • Odisha announced One-time livelihood assistance for all PDS families
  • Pradhan Mantri Surya Ghar: Muft Bijli Yojana
  • RBI ups remuneration ceiling of pvt sector banks’ Non-Executive Directors by ₹10 lakh to ₹30 lakh per annum
  • EPFO to marginally hike interest on PF deposits to 8.25%
  • NCTE in partnership with CBSE organizes 1-Day National Conference on Teacher Eligibility Test (TET) in the light of National Education Policy 2020
  • QCI and ONDC launch DigiReady certifications for MSMEs
  • JSW to invest ₹40,000 crores in Odisha for EV, parts project
  • LIC raises stake in SBI Cards
  • Paytm Payments Bank Independent Director Manju Sharma Resigned
  • ISB ranked first in India, 31st globally in FT Global MBA Ranking 2024
  • NITI Aayog Launches Greening India’s Wastelands with Agroforestry (GROW) Report and Portal
  • KPP Nambiar Award conferred on ISRO Chairman S Somanath
  • Noida bags Centre’s water warrior award
  • World marathon record holder Kelvin Kiptum dies in road accident
  • Renowned litterateur and Padma Shri awardee Usha Kiran Khan passes away
  • Artist A. Ramachandran passed away
  • India won BIMSTEC Aquatics Championships 2024
  • Chennai Super Kings 2024
  • National Deworming Day 2024
  • World Unani Day 2024
  • National Productivity Day 2024
  • International Day for the Prevention of Violent Extremism as and when Conducive to Terrorism 2024
  • World Radio Day 2024
  • World Defense Show 2024
  • Indian Army, Saudi Forces Conclude First Joint Exercise ‘Sada Tanseeq 2024’

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