Daily Current Affairs – January 05, 2024
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Daily Current Affairs - Banking - January 05, 2024
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National News
GI tags issued for over 17 products from Odisha, Arunachal Pradesh, West Bengal, and Jammu & Kashmir
- The Geographical Indications (GI) Registry in Chennai gave GI tag Over 17 Products.
- Odisha – Lanjia Saura paintings, Dongaria Kondh shawl, Khajuri Guda, Dhenkanal Magji, Nayagarh Kanteimundi Brinjal and Similipal Kai Chutney.
- Arunachal Pradesh – Adi Kekir (Ginger), Handmade Carpet and Wancho Wooden Craft
- West Bengal – Tangail Saree of Bengal, Garad Saree, Korial saree, Sundarban Honey and Kalonunia Rice
- Jammu and Kashmir – Ramban Anardana and Koraput Kalajeera Rice
- Gujarat – Kachchhi Kharek
Ministry of Education launches PRERANA program
- Department of School Education & Literacy, Ministry of Education, has launched ‘Prerana: An Experiential Learning program’, aiming to offer a meaningful, unique, and inspiring experience to all participants, thereby empowering them with leadership qualities.
- Prerana is driven by a strong commitment to integrate principles of Indian education system and the philosophy of value-based education which is a corner stone of the National Education Policy (NEP) 2020.
- Prerana is a week-long residential program for selected students of class IX to XII.
- It is an experiential and inspirational learning program for students with the best-in-class technology where heritage meets innovation.
- A batch of 20 selected students (10 boys and 10 girls) will attend the program, every week from various parts of the country.
- Prerana program will run from a Vernacular School, established in 1888, in one of the oldest living cities of India, Vadnagar, district Mehsana, Gujarat.
- The school stands as a tribute to Vadnagar’s indomitable spirit, a living city that has triumphed over challenges like earthquakes and natural calamities and is home to ancient heritage sites and monuments inhabited since the early historic period and in the modern day.
- The school signifies the fact that extraordinary lives often find their roots in ordinary foundations.
- This unique initiative embodies a vision aligned with the principles and ideals of our Hon’ble Prime Minister, who is an alumnus.
- The curriculum of Prerana School prepared by IIT Gandhi Nagar is rooted in nine value based themes: Swabhiman and Vinay, Shaurya and Sahas, Parishram and Samarpan, Karuna and Sewa, Vividhta and Ekta, Satyanishtha and Shuchita, Navachar and Jigyasa, Shraddha aur Vishwas, and Swatantrata and Kartavya. The program based on above themes will inspire the youth and foster respect for Bharat’s unity in diversity, embodying the spirit of “Vasudhaiva Kutumbakam” and will contribute by making the youth of today, a flame holder for Viksit Bharat.
- Towards this endeavour, the participants will be guided by mentors from prestigious institutions.
- The day-wise program schedule will feature yoga, mindfulness, and meditation sessions, followed by experiential learning, thematic sessions, and hands on interesting learning activities.
- Evening activities will include visits to ancient and heritage sites, inspirational film screenings, mission life creative activities, talent shows etc. ensuring a holistic learning approach.
- Apart from this, students will engage in diverse activities, embracing indigenous knowledge systems, latest State-of-Art technologies, and learnings from inspirational personalities.
International News
India to provide $75 million to Nepal for reconstruction efforts in earthquake-hit areas
- India will extend a financial package of $75 million for the reconstruction of infrastructure in Nepal’s western district affected by 2023’s quake.
- Union External Affairs Minister jointly inaugurated with his Nepalese counterpart P. Saud the Tribhuvan University Central Library and other reconstruction projects undertaken in Kathmandu after the 2015 earthquake in Nepal.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Language)
State News
Punjab becomes first state to map all accident-prone sites
- Punjab Police in collaboration with MapMyIndia has meticulously mapped all 784 accident black spots across the state on their navigation system Mappls App.
- MapMyIndia’s Mappls app— developed especially for India, will alert the commuters by giving a voice message, for example, black spot is 100 metres ahead.
Gujarat will acquire ₹50-crore submarine to promote under-sea tourism
- The Gujarat government is planning to acquire a ₹50-crore submarine that can carry passengers, in order to provide a deep-sea underwater experience to tourists visiting Beyt Dwarka — a small island believed to be a part of the submerged ancient kingdom of Lord Krishna.
- The submarine is expected to weigh around 30 tonnes and carry between 25 and 30 passengers to a depth of 300 feet.
Banking and Finance
Indian banks have closed 25 per cent of their foreign branches since FY19
- Towards the end of FY19, 10 Indian PSBs cumulatively had 132 overseas branches and 4 private banks together had 20 branches
- The numbers started dropping since then and towards the end of FY23, there were 100 PSB branches and 13 private sector bank branches in other countries.
Bajaj Finserv introduces India’s First Credit Pass
- Bajaj Finserv has introduced the Credit Pass, marking a pivotal moment in the landscape of credit monitoring in India.
- This innovative offering, powered by India’s largest credit bureau, CIBIL, is set to empower customers with unprecedented real-time access to their credit health report.
- The Credit Pass offers a personalised credit dashboard, providing a 360-degree overview of all your credit accounts.
- The Credit Pass grants you the advantage of receiving monthly updates on your CIBIL Score.
- Get a comprehensive overview of your credit health with the Credit Pass.
- The Credit Pass introduces the Credit Score Simulator, a tool that allows you to simulate the potential impact on your credit score when considering new financial endeavours.
- The Standard plan comes at a pocket-friendly price of ₹59 for 6 months
- The Premium plan is a comprehensive 12-month subscription at ₹99.
Business and Economy
Flipkart forms strategic partnership with digit asset company Fireblocks
- E-commerce firm Flipkart has formed a strategic partnership with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain technology.
- The collaboration aims to support the way consumers safely and easily interact with the Web 3.0 ecosystem.
- This collaboration will also provide avenues for brands to innovate and enhance customer experiences, as being explored via the FireDrops platform.
- FireDrops is an endeavour to create a safe and scalable brand engagement programme on the blockchain, where wallets seamlessly spun by Fireblocks allow users to easily interact with Web3.
- Fireblocks has set up 6 million wallets for Flipkart users, with a majority of them created in the past few months.
- Flipkart has over 500 million users with more than 150 million products across 80 categories.
Agreements and MoUs signed
REC Limited signed MoU with Bank of Baroda to finance Power, Infrastructure and Logistics Projects
- REC Limited has signed a Memorandum of Understanding (MoU) with Bank of Baroda in order to facilitate joint sanctions of loans to fund power, infrastructure and logistics projects in the country over the next three years.
- Recognizing the pressing need to fortify these critical domains, REC Limited and Bank of Baroda unite with a shared vision of advancing sustainable growth and bolstering the nation’s infrastructural backbone.
- By pooling resources and expertise, both entities endeavor to champion initiatives that will invigorate economic development and enhance accessibility to essential services nationwide.
- Bank of Baroda (BOB or BoB) – 20/07/1908 (Founded) – Vadodara, Gujarat (HQ) – Debadatta Chand (MD & CEO) – “India’s International Bank” (Tagline)
NHPC signs MoUs with Gujarat government
- State-run hydro power major NHPC has signed a memorandum of understanding (MoU) with Gujarat Power Corporation (GPCL) for investment in Kuppa Pumped Hydro Storage Project of 750 megawatt (MW) capacity.
- As per terms of the MoU, NHPC shall invest an estimated ₹4,000 crores in the proposed 750 MW Kuppa Pumped Hydro Storage Project at Chhota Udaipur, Gujarat.
- The MoU aims to contribute towards the national objective of clean and green energy, that is 500 gigawatt (GW) of renewable energy by 2030 and Net Zero target by
- NHPC Limited (erstwhile National Hydroelectric Power Corporation) – 1975 (Founded) – Faridabad, Haryana (HQ) – Shri Rajeev Kumar Vishnoi (Chairman & Managing Director)
Paytm signs MoU with Ayodhya Nagar Nigam
- One97 Communications Ltd (OCL), which owns the brand Paytm, has signed an MoU with Ayodhya Nagar Nigam to enable mobile payments in Ayodhya using the Paytm-pioneered QR code, Soundbox, and card machines.
- This is aimed at providing seamless mobile payment services during the much-anticipated inauguration of Ram Mandir in the city on January 22 2024.
- With this, the company will enable mobile payments at various departments in collaboration with Ayodhya Nagar Nigam.
- Through this MoU, the company will also deploy Paytm card machines at cash collection centres under State Nagar Nigam departments.
- Paytm (pay through mobile) – August 2010 (Founded) – Noida,UP (HQ) -Vijay Shekhar Sharma (CEO)
Science and Technology
Amit Shah launches tur dal procurement portal
- Union Cooperation Minister Amit Shah inaugurated a tur dal procurement portal through which farmers can register and sell their produce to NAFED and NCCF at a minimum support price or market price.
- A similar facility will be launched in future for urad and masoor farmers as well as maize farmers.
- The minister also transferred via Direct Benefit Transfer (DBT) about ₹68 lakh to 25 farmers towards payment for sale of tur via the portal.
- Cooperative National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers’ Federation of India Limited (NCCF) undertake procurement of pulses on behalf of the government’s in order to maintain a buffer stock.
- The registered tur farmers will have an option to sell to either NAFED/NCCF or open market added suppose the open market price of tur remains higher than the MSP, in that case an average rate will be arrived through a formula.
MeitY unveils domain registration portal for educational institutions
- Ministry of Electronics and Information Technology Secretary S Krishnan launched an integrated web portal for educational institutions in the country.
- Secretary Krishnan also inaugurated the new conference hall of ERNET India and interacted with officers and staff on the occasion.
- The portal, known as ERNET, will offer domain registration, DNS and value-added services including Website as a Service (WaaS) and Learning Management as a Service (LMaaS) to educational institutions.
- The portal has been developed utilising open-source software and emerging technologies such as AI/ML.
- ERNET India is a not-for-profit scientific society under MeitY.
- It is the exclusive domain registrar for all the education & research institutes having ‘ac.in’, ‘edu.in’ and ‘res.in’ as domain names.
Power
Reliance Industries pioneers chemical recycling of plastic waste into certified circular polymers
- Reliance Industries Ltd (RIL) has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability & Carbon Certification (ISCC)-Plus certified circular polymers.
- The innovative product line, named CircuRepol™ (polypropylene) and CircuRelene™ (polyethylene), underscores RIL’s unwavering commitment to reducing plastic waste and fostering a circular economy in India.
- RIL shipped its first batch of ISCC-Plus-certified circular polymers, named CircuRepol™ and CircuRelene™.
- The company recently shipped its inaugural batch of ISCC-Plus-certified circular polymers.
- This achievement aligns with RIL’s broader vision of utilising technology to revolutionise plastic recycling, transforming plastic waste into specialised circular polymers and contributing positively to environmental conservation.
- Reliance Industries Ltd (RIL) – 1958 (Founded) – Mumbai (HQ) – Mukesh Ambani (MD & CEO)
Appointments
Canara Bank CGM P Santhosh appointed as MD of NARCL
- P Santhosh, chief general manager at Canara Bank, is appointed as managing director and chief executive officer of National Asset Reconstruction of India Ltd (NARCL) with effect from January 5, by replacing Natarajan Sundar.
- Natarajan Sundar, a banking veteran who rose to be the deputy managing director, at State Bank of India, was appointed as the MD on May 30, 2022 for two years.
- Karnam Sekar was appointed in May 2022 for two years.
- He resigned soon after a proposal to merge NARCL with India Debt Resolution Company (IDRCL) – which acts as an agent was made to the finance ministry.
- National Asset Reconstruction Company (NARCL) – 07/07/2021 (Founded) – Mumbai (HQ) – P Santhosh (MD & CEO)
Sanjiv Aggarwal appointed as MD & CEO of NIIFL
- National Investment and Infrastructure Fund Limited (NIIFL) has appointed Sanjiv Aggarwal as chief executive officer (CEO) and managing director (MD) of the company.
- His appointment will be effective in February 2024.
- He succeeds Rajiv Dhar, who has served as interim CEO & MD since May 2023.
- National Investment and Infrastructure Fund Limited (NIIFL) – February 2015 (Founded) – Mumbai (HQ)
Shashi Singh appointed as new president of All India Rubber Industries Association (AIRIA)
- Shashi Singh has been elected as the president of the All India Rubber Industries Association (AIRIA), the apex body for rubber industries in India by succeeding Ramesh Kejriwal.
- Zafar Ahmed, Managing Director of New India Rubber Works Pvt Ltd, has been elected as the senior vice-president of AIRIA for 2023-24.
- Indra Parekh has been elected as the vice president of the Association.
- All India Rubber Industries Association (AIRIA) – 1945 (Established) – Mumbai (HQ)
Rashmi Shukla becomes Maharashtra’s first woman Director General of Police
- The Maharashtra government appointed 1988 batch Indian Police Service (IPS) officer Rashmi Shukla as the Director General of Police by replacing Rajnish Seth.
- She became the first woman police officer to hold the top police post in the State.
Awards and Recognitions
Professor Adrian Michael Cruise Awarded OBE for Leading UK Space Science Research
- Professor Adrian Michael Cruise has been awarded the Order of the British Empire (OBE) for his significant contributions to space science research and his leadership in the UK space science community.
- His work in establishing Gravitational Wave research at the University of Birmingham and his contributions to the first confirmed detection of gravitational waves in 2015 have solidified the UK’s position as an international leader in space science.
Defence
Ministry of Defence signs contracts worth ₹802 Crores for procurement of military equipment
- Ministry of Defence signed two contracts for procurement of Qty-697 Bogie Open Military (BOM) Wagons at a cost of ₹473 Crores with M/s Jupiter Wagons Limited and procurement of Qty-56 Mechanical Minefield Marking Equipment (MMME) Mark II at a cost of ₹329 Crores with M/s BEML Ltd, under Buy (Indian-IDDM) category on in New Delhi.
- The BOM Wagons and MMME will be produced with equipment and sub-system sourced from indigenous manufacturers, giving a boost to the indigenous manufacturing and participation of the private sector in defence production, realizing the vision of Atmanirbhar Bharat.
- Bogie Open Military (BOM) wagons, designed by Research Design and Standard Organization (RDSO) are specialist wagons used by the Indian Army for mobilization of the Army units.
- BOM wagons are used to transport light vehicles, Artillery Guns, BMPs, Engineering Equipment from their peacetime locations to operational areas.
- This Critical Rolling Stock will ensure speedy and simultaneous induction of units and equipment into operational areas during any conflict situation besides, facilitating their peacetime movement for Military exercise and movement of units from one station to another.
- Research Designs & Standards Organisation (RDSO) – 1957 (Founded) – Lucknow, UP (HQ) – Ministry of Railways
Daily Current Affairs - January 05, 2024 - Consolidated
- GI tags issued for over 17 products from Odisha, Arunachal Pradesh, West Bengal, and Jammu & Kashmir
- Ministry of Education launches PRERANA program
- India to provide $75 million to Nepal for reconstruction efforts in earthquake-hit areas
- Punjab becomes first state to map all accident-prone sites
- Gujarat will acquire ₹50-crore submarine to promote under-sea tourism
- Indian banks have closed 25 per cent of their foreign branches since FY19
- Bajaj Finserv introduces India’s First Credit Pass
- Flipkart forms strategic partnership with digit asset company Fireblocks
- REC Limited signed MoU with Bank of Baroda to finance Power, Infrastructure and Logistics Projects
- NHPC signs MoUs with Gujarat government
- Paytm signs MoU with Ayodhya Nagar Nigam
- Amit Shah launches tur dal procurement portal
- MeitY unveils domain registration portal for educational institutions
- Reliance Industries pioneers chemical recycling of plastic waste into certified circular polymers
- Canara Bank CGM P Santhosh appointed as MD of NARCL
- Sanjiv Aggarwal appointed as MD & CEO of NIIFL
- Shashi Singh appointed as new president of All India Rubber Industries Association (AIRIA)
- Rashmi Shukla becomes Maharashtra’s first woman Director General of Police
- Professor Adrian Michael Cruise Awarded OBE for Leading UK Space Science Research
- Ministry of Defence signs contracts worth ₹802 Crores for procurement of military equipment
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