Daily Current Affairs – January 04, 2024
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Daily Current Affairs - Banking - January 04, 2024
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National News
‘SMART 2.0’ launched for Ayurveda Teaching Professionals
- The Central Council for Research in Ayurvedic Sciences (CCRAS) along with National Commission for Indian System of Medicine (NCISM) has launched ‘SMART 2.0’ (Scope for Mainstreaming Ayurveda Research among Teaching professionals) program to promote robust clinical studies in priority areas of Ayurveda with Ayurveda academic institutions/hospitals across the country through mutual collaboration.
- the study aims at safety, tolerability and adherence to Ayurveda formulations in the priority research areas of Bal Kasa, Malnutrition, Insufficient lactation, Abnormal Uterine Bleeding, Osteoporosis in post-menopausal women and Diabetes Mellitus (DM) II.
- CCRAS is an apex organization for the formulation, co-ordination, development and promotion of research on scientific lines in Ayurveda, functioning under the Ministry of Ayush.
- The objective of ‘SMART 2.0’ is to generate a tangible evidence to demonstrate efficacy and safety of Ayurveda interventions using interdisciplinary research methods and translating it into public health care.
- Under the ‘SMART 1.0’, around 10 diseases were covered with the active participation of teaching professionals from 38 colleges.
- Ayurveda academic institutions interested to take-up collaborative research activities may submit ‘Expression of Interest’ in the prescribed format available on the CCRAS website http://ccras.nic.in/sites/default/files/Notices/02012024_SMART.pdf.
India launches a single-window portal for medical devices management
- The Centre has launched the National Single Window System (NSWS), In a move to streamline the import, clinical investigations, and testing of medical devices.
- NSWS has been established as a “genuine single-window system, which acts as a one-stop shop for all the approvals required by the investor and facilitates ease of doing business”.
- The NSWS portal, distinct from the existing SUGAM and cdscomdonline portals, has been developed by Tata Consultancy Services (TCS).
- It facilitates applications for the certificate of registration and licences to manufacture or import medical devices for various purposes, including clinical investigations, tests, evaluations, demonstrations, and training.
- The existing portals will be disabled by January 15.
ArcelorMittal partners with IIT Madras to create Asia’s first hyperloop facility
- ArcelorMittal has established a partnership with the Indian Institute of Technology Madras (IIT Madras), and is working closely with the institute’s Hyperloop Technology team, Avishkar Hyperloop, which is developing cost-effective hyperloop technologies for passenger and cargo mobility at scale. Avishkar Hyperloop is a student team and TuTr Hyperloop is a start-up incubated at IIT Madras.
- ArcelorMittal and ArcelorMittal Nippon Steel India are providing foundational steel materials, as well as engineering, design and project management expertise to support the creation of India’s and Asia’s first Hyperloop test track at IIT Madras’ 163-acre Discovery Campus in Thaiyur on the outskirts of Chennai.
- The hyperloop team’s central objective is the advancement and commercialisation of hyperloop technologies for high-speed, affordable, reliable and sustainable transportation.
- India’s Ministry of Railways is a key partner to this hyperloop technology development initiative at IIT Madras.
International News
Five nations including UAE, Saudi get full membership of BRICS
- Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates joined as the new members of BRICS nation from January 1 2024 making the total count to 10 countries.
- Previous members were Brazil, Russia, India, China and South Africa.
- Russia is the current chairman of BRICS.
- 2024 BRICS chairmanship of Russia under the motto ‘strengthening multilateralism for equitable global development and security’ will focus on positive and constructive cooperation with all concerned countries.
State News
Odisha CM Patnaik inaugurates Lower Suktel irrigation project
- Odisha Chief Minister Naveen Patnaik inaugurated the Lower Suktel irrigation project, which would benefit one lakh acres of land in drought-prone Balangir district, more than 23 years after he laid its foundation stone.
- Delay in implementation of the project has led to cost escalation of over 12 times, with the Odisha government spending around ₹2,723 crores.
- The initial cost was ₹217 crores.
- The erstwhile Planning Commission had approved the project in 1999, and Patnaik laid its foundation stone two years later.
Andhra Pradesh CM upgrades social welfare pension to ₹3,000, reaching 66.34 lakh beneficiaries
- Andhra Pradesh Chief Minister YS Jagan Mohan Reddy launched the upgraded social welfare pension of ₹3,000 per month with an expanded reach to cover 34 lakh beneficiaries.
- This would mark an increase of ₹250 as till now pension was at ₹2,750.
- The government spent ₹2,46,000 crores on the Direct Benefit Transfer based welfare schemes in the last 55 months.
- The State government spent ₹26,000 crores on Amma Vodi, ₹33,330 crores on Rythu Bharosa, ₹19,178 crores on YSR Asara and ₹14,129 crores on YSR Cheyutha benefitting around 45 lakh mothers and Fifty-four lakh farmers.
- Additionally the schemes benefitted 79 lakh women of self-help groups and Twenty-six lakh women of 45-to 60-years respectively.
Schemes
Finance Ministry approves additional ₹1,500 crores for FAME-II scheme
- The Union Finance Ministry has sanctioned an additional ₹1,500 crores for the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme, addressing fears that funds could run out before the scheme ends in March 2024 due to robust electric vehicle (EV) sales.
- A proposal to increase the outlay for FAME-II from ₹10,000 crores to ₹11,500 crores was approved by the department of expenditure (DoE).
- The government had till December 26 2023 utilised ₹8,948 crores of the ₹10,000 crores funds allocated under the scheme.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
Banking and Finance
HDFC Bank goes live with UPI in secondary market platform
- HDFC Bank has executed transactions via the NPCI’s UPI payments app as part of the ‘UPI for secondary market’
- The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NPCI).
- NPCI had announced that ‘UPI for secondary market’ facility will go live from January 1 2024 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, depositories, stockbrokers, banks, and UPI app providers.
- Initially, the facility will be available for limited set of pilot customers.
- HDFC Bank – August 1994 (Founded) – Mumbai (HQ) – Sashidhar Jagdishan (CEO) – “We Understand Your World” (Tagline)
Bulk deposit limit for Urban Co-op banks in T3, T4 enhanced to ₹1 crore and above
- Reserve Bank of India (RBI) has decided to enhance the bulk deposit limit for Scheduled Primary (Urban) Co-operative Banks, to ₹1 crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs under the revised regulatory framework and Single Rupee term deposits of ₹15 lakhs for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4).
LEO1 and NSDL payments bank introduce MasterCard-powered prepaid ID cards
- LEO1, an edu-fintech startup, in collaboration with NSDL Payments Bank, has introduced prepaid ID cards for students and educational institutions.
- This card, supported by MasterCard, is devoid of traditional numbering, offering a secure and efficient payment solution to educational institutes and students.
- The primary objective of the prepaid student card is to streamline and optimise payment processes within educational institutions throughout India, fostering cash-free campuses.
- The LEO1 card aims to empower parents to digitally transfer funds and monitor expenditure across various categories, ensuring a transparent financial overview.
- NSDL Payments Bank – 29/10/2018 (Founded) – Mumbai (HQ) – G.V. Nageswara Rao (Non-executive Chairman)
Business and Economy
India Ratings raises GDP forecast to 6.7 per cent
- India Ratings and Research revised its GDP growth estimate for 2023-24 to 7 per cent from an earlier projection of 6.2 per cent citing strong second quarter growth, sustained government capex and the prospect of a new private capex cycle, even as it noted that consumption demand in the economy is not broad based.
- The Reserve Bank of India has projected real GDP growth of 7 per cent for the year.
Agreements and MoUs signed
Khadi and Village Industries Commission (KVIC) signed a Memorandum of Understanding (MoU) with Quality Council of India (QCI) to enhance the quality of Khadi products
- Khadi and Village Industries Commission (KVIC) and Quality Council of India (QCI) signed a Memorandum of Understanding (MoU) to enhance the quality of Khadi products, empower artisans and offer quality products under the ‘Made in India’ banner for Khadi at Kochrab Ashram in
- The collaboration between the two organizations is aimed at creating ‘World Class Khadi Products’ as per the vision of Prime Minister Narendra Modi.
- As per the MoU, the Quality Council of India will assist KVIC in various activities including training to enhance the quality of Khadi and Village Industries products, improve their productivity and marketability both domestically and internationally.
- Along with this, it will support KVIC by empowering Khadi artisans and promoting Khadi products through various mediums.
- Besides, this collaboration will give a new identity to Khadi as ‘Made in India’ products, which will increase the production and sale of Khadi products as a symbol of quality across the world.
- This will provide new employment opportunities to Khadi artisans with greater productivity and efficiency by equipping them with advanced skills and knowledge.
- Khadii and Village Industries Commission (KVIC) – 1957 (Founded) – Mumbai (HQ) – Manoj Kumar (Chairman)
- Quality Council of India (QCI) – 1997 (Founded) – New Delhi (HQ) – Jaxay Shah (Chairman)
REC Limited signed a Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL) to finance infrastructure projects
- REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, has signed a Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL) to extend financial support of up to ₹35,000 crores for infrastructure projects over the next five years.
- The agreement encompasses a wide spectrum of projects, including multi-modal logistics hubs, rail infrastructure, road development, port facilities, and metro projects that RVNL is venturing into.
- Ajoy Choudhury, director (finance) of REC, and Rajesh Prasad, director (operations) of RVNL, signed the pact, solidifying the collaboration between the two entities.
- Rail Vikas Nigam Limited (RVNL) – 24/01/2003 (Founded) – New Delhi (HQ)- Pradeep Gaur (Chairman & MD)
- REC Limited (Rural Electrification Corporation Limited) – 25/07/1969 (Founded) – New Delhi (HQ) – Vivek Kumar Dewagan (CMD)
Power Finance Corporation Ltd. signed MoU with Gujarat for Power Projects worth ₹25,000 Crore
- Power Finance Corporation Ltd. (PFC), a Maharatna CPSE and the leading NBFC in the power sector, has signed an MoU with the Government of Gujarat in
- The chief objective of this MoU is to provide comprehensive financial backing for the state’s generation, transmission, and distribution projects.
- The MoU has been signed by Parminder Chopra, CMD PFC and Jai Prakash Shivhare, MD (GUVNL).
- The MoU marks a significant step towards bolstering various projects undertaken by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Electricity Corporation Limited (GSECL), Gujarat Energy Transmission Corporation Ltd (GETCO), Dakshin Gujarat Vij Company Ltd (DGVCL), Madhya Gujarat Vij Company Ltd (MGVCL), Paschim Gujarat Vij Company Ltd (PGVCL), and Uttar Gujarat Vij Company Ltd (UGVCL).
- The collaboration is set to facilitate long-term debt and other critical funding necessities vital for executing these diverse projects.
- Under the terms of the MoU, the envisaged financial assistance stands at an impressive ₹25,000 Crore, dedicated to powering up various projects across Gujarat.
- This substantial financial commitment underscores PFC’s steadfast commitment to bolstering the power infrastructure in the region and supporting the state’s ambitious initiatives in the power sector.
- Apart from facilitating the expansion of power infrastructure, the MoU shall inter-alia also help creating employment generation to the tune of 10,000 in the state of Gujarat.
- Power Finance Corporation Ltd (PFC) – July 1986 (Founded) – New Delhi (HQ) – Parminder Chopra (Chairman & MD)
NHAI signed MoU with NRSC for Development and Reporting of “Green Cover Index” for National Highways of India
- The National Highways Authority of India (NHAI) has entered into a Memorandum of Understanding with the National Remote Sensing Centre (NRSC) under the Indian Space Research Organization (ISRO) for a period of three years to develop and report a “Green Cover Index” for the extensive network of National Highways in India.
- Since the initiation of the Green Highways Policy in 2015, the prioritization of greening Highway Corridors has been a focal point for the Ministry of Road Transport and Highways (MoRTH) and NHAI.
- National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)
Appointments
Karan Adani elevated as MD of Adani Ports
- Adani Ports and Special Economic Zone Ltd (APSEZ), the ports and logistics company had elevated CEO Karan Adani to the role of managing director and appointing Ashwani Gupta, former global chief operating officer at Nissan Motors, as the new CEO of the company.
- Karan Adani replaces Gautam Adani as the MD of the company.
- Gautam Adani is now re-designated as ‘Executive Chairman’ of APSEZ.
- Adani Ports and Special Economic Zone Ltd (APSEZ) – 26/05/1998 (Founded) – Ahmedabad (HQ) – Gautam Adani (Executive Chairman)
Randhir Jaiswal was elected as Spokesperson of Ministry of External Affairs
- The Ministry of External Affairs (MEA) official spokesperson, Arindam Bagchi passed on the baton to Randhir Jaiswal, who assumed the charge as official MEA spokesperson.
- Ministry of External Affairs – Subrahmanyam Jaishankar,Union Minister (Rajya Sabha MP,Gujarat) – V. Muraleedharan, Minister of State (Rajya Sabha MP,Maharashtra),Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur),Meenakshi Lekhi, Minister of State (New Delhi)
Awards and Recognitions
Prof. B.R. Kamboj honoured with M S Swaminathan Award
- Chaudhary Charan Singh Haryana Agricultural University’s Vice Chancellor B.R. Kamboj has been honoured with the prestigious M.S. Swaminathan Award in recognition of his contributions as a scientist and extension specialist in the field of agronomy.
- During the award ceremony took place at the International Conference on ‘One Health One World,’ held at Rajmata Vijayaraje Scindia Agricultural University at Gwalior in Madhya Pradesh Karnataka Governor Thawar Chand Gehlot, presented the award to him.
Virat Kohli won Pubity Male Athlete Of 2023 Award
- Virat Kohli has emerged as the winner of the 2023 Pubity Male Athlete of The Year Award, defeating Argentine footballing great Lionel Messi.
Important Days
World Braille Day 2024
- World Braille Day is annually observed on January 04.
- The day pays tribute to Louis Braille, the visionary behind the braille system.
- Braille is innovative system, with its matrix of six raised dots arranged in various patterns within cells, facilitates the representation of letters, numbers, punctuation, and an array of symbols.
- This day was established by the United Nations General Assembly in 2018 and the day coincides with Louis Braille’s birth date.
Daily Current Affairs - January 04, 2024 - Consolidated
- ‘SMART 2.0’ launched for Ayurveda Teaching Professionals
- India launches a single-window portal for medical devices management
- ArcelorMittal partners with IIT Madras to create Asia’s first hyperloop facility
- Five nations including UAE, Saudi get full membership of BRICS
- Odisha CM Patnaik inaugurates Lower Suktel irrigation project
- Andhra Pradesh CM upgrades social welfare pension to ₹3,000, reaching 66.34 lakh beneficiaries
- Finance Ministry approves additional ₹1,500 crores for FAME-II scheme
- HDFC Bank goes live with UPI in secondary market platform
- Bulk deposit limit for Urban Co-op banks in T3, T4 enhanced to ₹1 crore and above
- LEO1 and NSDL payments bank introduce MasterCard-powered prepaid ID cards
- India Ratings raises GDP forecast to 6.7 per cent
- Khadi and Village Industries Commission (KVIC) signed a Memorandum of Understanding (MoU) with Quality Council of India (QCI) to enhance the quality of Khadi products
- REC Limited signed a Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL) to finance infrastructure projects
- Power Finance Corporation Ltd. signed MoU with Gujarat for Power Projects worth ₹25,000 Crore
- NHAI signed MoU with NRSC for Development and Reporting of “Green Cover Index” for National Highways of India
- Karan Adani elevated as MD of Adani Ports
- Randhir Jaiswal was elected as Spokesperson of Ministry of External Affairs
- B.R. Kamboj honoured with M S Swaminathan Award
- Virat Kohli won Pubity Male Athlete Of 2023 Award
- World Braille Day 2024
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