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Daily Current Affairs – January 15 & 16, 2024

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Daily Current Affairs - Banking - January 15 & 16, 2024

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National News

NHAI Takes ‘One Vehicle One FASTag’ Initiative to Enhance National Highway Experience

  • National Highways Authority of India (NHAI) has taken ‘One Vehicle, One FASTag’ initiative that aims to discourage user behavior of using single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, to enhance efficiency of the Electronic Toll Collection system and provide seamless movement at the Toll Plazas.
  • NHAI is also encouraging FASTag users to complete ‘Know Your Customer’ (KYC) process of their latest FASTag by updating KYC as per RBI guidelines.
  • FASTags with valid balance but with incomplete KYC will get deactivated/blacklisted by banks post January 31 2024.
  • To avoid inconvenience, users must ensure that KYC of their latest FASTag is completed.
  • FASTag users must also comply with ‘One Vehicle, One FASTag’ and discard all the earlier issued FASTags through their respective banks.
  • Only the latest FASTag account shall remain active as previous tags will be deactivated/blacklisted after January 31 2024.
  • For further assistance or queries, FASTag users can reach out to nearest toll plazas or toll-free customer care number of their respective issuer banks.
  • National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)

Bureau of Indian Standards issues 'Standardized Development and Building Regulations, 2023’

  • The Bureau of Indian Standards has issued ‘Standardized Development and Building Regulations, 2023,’ encapsulated in Special Publication SP 73: 2023.
  • The Special Publication mark a significant stride towards revolutionizing India’s built environment.
  • Aligned with the National Building Code of India 2016 (NBC 2016) and drawing inspiration from global best practices, these regulations set forth a comprehensive framework aimed at ensuring safety, accessibility, and sustainability in construction.
  • The document emerges as a beacon of uniformity, designed to streamline structuring and detailing of the development and building regulations of the States/UTs, as well as to streamline the building regulatory system across the nation while accommodating the specific needs of individual states, union territories (UTs), and local bodies.
  • The genesis of these Standardized Regulations lies in a meticulous project aimed at promoting the adoption of NBC 2016 nationwide.
  • The initiative involved an exhaustive study of existing rules and regulations across the country, coupled with a comparative analysis of international best practices governing land and building development.
  • Workshops and discussions held nationwide gathered input and feedback, all of which were successfully integrated into the final document.
  • Bureau of Indian Standards (BIS) – 23/12/1986 (Founded) – Old Delhi (HQ) – Pramod Kumar Tiwari (Director General) – Ministry of Consumer Affairs, Food and Public Distribution (Under)

State News

Haryana CM Lays Foundation for Medical College and Hospital in Panchkula

  • Haryana Chief Minister Manohar Lal laid the foundation stone of the Medical College and Hospital in Sector-32 at Panchkula.
  • The medical college will be built on 30 acres of land at a cost of ₹800 crore.
  • The initial phase will involve an expenditure of ₹500 crore with an anticipated additional expenditure of ₹300 crore.
  • The entire project is slated to be completed within 30 months.
  • Once opened, it will have 100 MBBS seats.

Banking and Finance

Reserve Bank of India imposes Monetary Penalty

  • Reserve Bank of India imposed a penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on ‘Loans and Advances — Statutory and Other Restrictions’, KYC and certain norms related to interest rate on deposits.
  • The central bank has also imposed a penalty of ₹29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on ‘Customer Service in Banks’.

RBI releases draft norms for fintech self-regulatory organisations

  • The Reserve Bank of India’s (RBI’s) draft norms for self regulatory organisations for the fintech sector (SRO-FT) have proposed that such entities should have a robust IT infrastructure and the ability to deploy technological solutions within a reasonable timeframe.
  • The applicant for such an entity should have sufficient net worth and demonstrate the capability of establishing the necessary infrastructure to fulfil the responsibilities of an SRO-FT effectively.
  • The draft norms, said SRO-FTs should strive towards healthy and sustainable development of the fintech sector.
  • And if necessary, they must identify a glide path to a phased regulatory compliance.
  • It said the SRO should be motivating its members to align with regulatory priorities and develop a culture of compliance.
  • At the same time, the SRO-FT should be development-oriented, actively contributing to the growth and evolution of the industry, the norms said.
  • The draft framework said that to maintain credibility, the SRO-FT should operate independently, free from the influence of any single member or group of members.

RBI to tighten norms for deposit-taking housing finance companies

  • The Reserve Bank of India (RBI) plans to tighten the norms for deposit-taking housing finance companies (HFCs), reducing the ceiling on quantum of public deposits they can hold, and halving the maximum period for which they can take deposits.
  • The aforementioned prescriptions are part of RBI’s plan to move HFCs (accepting or holding public deposits) towards the regulatory regime on deposit acceptance as applicable to deposit-taking non-banking finance companies (NBFCs) and specify uniform prudential parameters.
  • The proposed move, which is contained in a draft circular, is a result of “Review of regulatory framework for HFCs and harmonisation of regulations applicable to HFCs and NBFCs”.
  • The central bank has invited comments on the draft circular from NBFCs (including HFCs) and other stakeholders by February 29, 2024.
  • The ceiling on quantum of public deposits held by deposit taking HFCs, which comply with all prudential norms and minimum investment grade credit rating, will stand reduced from three times to 5 times of net owned fund.

IndusInd Bank ties up with EazyDiner to launch credit card

  • IndusInd Bank has launched the ‘EazyDiner IndusInd Bank Platinum Credit Card’ in association with
  • The credit card offers an additional discount of ₹500 while paying through the EazyDiner App via PayEazy for both dining and take-away at select restaurants.
  • Cardholders get an EazyDiner Prime membership for three months, with guaranteed discounts of 25 per cent to 50 per cent, at over 2,000 premium restaurants, without any joining or annual fees.
  • Users can renew their membership upon payment of ₹30,000 every 90 days.
  • IndusInd Bank Limited – April 1994 (Founded) – Mumbai (HQ) – Sumant Kathpalia (MD & CEO) – “We Make You Feel Richer” (Tagline)

Business and Economy

Government imposes 50% export duty on molasses

  • The government will impose a 50 per cent duty on the export of molasses from January 18 2024, aiming to ensure adequate quantities for ethanol blending.
  • Separately, it extended lower duties on imported edible oils (crude and refined) till March 2025.

Agreements and MoUs signed

India Signs Agreement for Lithium Exploration & Mining Project in Argentina

  • Union Ministry of Mines has achieved a significant milestone with the signing of an agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province of Argentina CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE) at Catamarca, Argentina.
  • This is the first ever lithium exploration and mining project by a Government Company of India.
  • KABIL will start exploration and development of 5 lithium brine blocks viz Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022-01810132 and 5. Cortadera-VI covering an area of about 15,703 Hectare, located in the Catamarca province of Argentina.
  • KABIL is also preparing to set up a branch office at Catamarca, Argentina.
  • The project cost is about ₹200 crores.
  • Argentina is the part of “Lithium Triangle” along with Chile and Bolivia with more than half of world’s total lithium resources and having the distinction of having 2nd largest lithium resources, 3rd largest lithium reserves and 4th largest production in world.
  • Argentina – Buenos Aires (Capital) – Argentine peso (Currency) – Javier Milei (President) – Spanish (Language)

Science and Technology

Pixxel opens new spacecraft manufacturing facility in Bengaluru

  • Bengaluru-based space data company Pixxel inaugurated its first spacecraft manufacturing facility in Bengaluru.
  • The facility was inaugurated by chairman of the Indian Space Research Organisation (ISRO) Somanath.
  • The new facility holds significance as it targets to launch six satellites this year and 18 more by 2025, further advancing its mission of building a “health monitor” for the planet.
  • Spread across 30,000 square feet, the facility, at its full capacity, is equipped to handle more than 20 satellites simultaneously that can be turned around within a timeframe of six months, making possible a total of 40 large satellites per year.
  • Pixxel – February 2019 (Founded) – Bengaluru (HQ) – Awais Ahmed (CEO)

India Meteorological Department (IMD) launches Panchayat Mausam Sewa Portal for farmers

  • The India Meteorological Department (IMD) launched the Panchayat Mausam Sewa Portal, providing weather services for farmers in multiple languages.
  • They also introduced the National Framework of Climate Services (NFCS), aiming to reduce losses from extreme weather events.
  • The NFCS framework seeks to build a platform for users of climate information and services that will strengthen the production, availability, delivery and application of science-based climate monitoring and prediction services for key sectors such as agriculture, health, energy and disaster management.
  • India Meteorological Department (IMD) – 15/01/1875 (Founded) – New Delhi (HQ) – Mrutyunjay Mohapatra (Director General of Meteorology)

Appointments

Bernardo Arevalo sworn in as Guatemala's president

  • Anti-corruption crusader Bernardo Arevalo was sworn in as Guatemala’s president by succeeding Alejandro Giammattei.
  • He was sworn in as 52nd President of Guatemala.
  • Guatemala – Guatemala City (Capital) – Quetzal (Currency) – Bernardo Arevalo (President) – Spanish (Language) – Central America

Denmark's King Frederik X Takes Throne

  • Denmark’s King Frederik X took over the throne from his mother Queen Margrethe II.
  • Currently new Crown Prince is his eldest-son
  • Denmark – Copenhagen (Capital) – Danish krone (Currency) – Frederik X (Monarch) – Mette Frederiksen (Prime Minister) – Danish (Language)

Vice Admiral AN Pramod assumes charge as Director General naval operations

  • Vice Admiral AN Pramod assumed charge as the Director General Naval Operations (DGNO).
  • An alumnus of the 38th Integrated Cadet Course, Naval Academy, Goa, he was commissioned into the Indian Navy on 01 July 1990.
  • The Flag Officer is a CAT ‘A’ Sea King Air Operations Officer and a Communication & Electronics Warfare Specialist.
  • He did the Staff Course at DSSC Wellington (Nilgiris) and the Naval Higher Command Course at NWC, Goa.

Vice Admiral Vineet Mccarty takes over as the commandant, Indian Naval Academy, Ezhimala

  • Vice Admiral Vineet McCarty took over as Commandant, Indian Naval Academy.
  • The Flag Officer was commissioned into the Indian Navy on 01 Jul 1989 and is a graduate of Defence Service Staff College, Wellington (2005) and National Defence College, New Delhi (2017).
  • A specialist in ‘Gunnery and Missiles’, he served as the commissioning crew of INS Delhi and did all his specialist tenures onboard the frontline Guided Missile Destroyer.
  • He has served as the Executive officer of a Seaward Defence Patrol Vessel, Guided Missile Vessel and Landing Platform Dock INS Jalashwa.
  • He has commanded Anti-Submarine Patrol Vessel INS Ajay, Guided Missile Corvette INS Khanjar and Guided Missile Frigate INS Shivalik.

Ranks and Indices

Gujarat, Kerala, Karnataka best performing States in developing startup ecosystem: DPIIT

  • The Department for Promotion of Industry and Internal Trade (DPIIT) States’ startup ranking for 2022 was released by Commerce and Industry Minister Piyush Goyal in New Delhi.
  • A total of 33 States and UTs participated in the exercise, which ranked them under five categories — best performers, top performers, leaders, aspiring leaders and emerging startup ecosystems.
  • The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
  • Gujarat, Kerala and Karnataka have emerged as the best-performing States in developing startup ecosystems for budding entrepreneurs.
  • Tamil Nadu, Himachal Pradesh, Maharashtra, Odisha and Telangana are also categorised as top performers.

India ranked 35th in Future Possibility Index

  • India ranked 35th in the global index assessing countries’ readiness to harness future opportunities.
  • The Future Possibilities Index (FPI), a prominent global study on future trends conducted by Newsweek Vantage and Horizon Group during the World Economic Forum Annual Meeting, unveiled United Kingdom, Denmark, the US, the Netherlands, and Germany in the top five.
  • In terms of large emerging markets, China claimed the highest position at 19th, trailed by Brazil at 30th, and South Africa at 50th.

Awards and Recognitions

Emmys Awards 2024

  • The Emmy Awards, or Emmys, are an extensive range of awards for artistic and technical merit for the American and international television industry.
  • The Los Angeles–based Academy of Television Arts & Sciences (ATAS) established the Emmy Award as part of an image-building and public relations opportunity.
  • The first Emmy ceremony took place on January 25, 1949, at the Hollywood Athletic Club.
  •  

    Category

    Winner(s)

    Drama Series

    Succession

    Comedy Series

    The Bear

    Lead Actress in a Drama Series

    Sarah Snook (Succession)

    Lead Actor in a Drama Series

    Kieran Culkin (Succession)

    Limited or Anthology Series

    Beef

    Lead Actress in a Limited or Anthology Series or Movie

    Ali Wong (Beef)

    Lead Actor in a Limited or Anthology Series or Movie

    Steven Yeun (Beef)

    Variety Special (Live)

    Elton John Live: Farewell from Dodger Stadium

    Directing for a Drama Series

    Mark Mylod (Succession)

    Writing for a Limited or Anthology Series or Movie

    Lee Sung Jin (Beef)

    Writing for a Drama Series

    Jesse Armstrong (Succession)

    Supporting Actor in a Limited or Anthology Series or Movie

    Paul Walter Hauser (Black Bird)

    Directing for a Limited or Anthology Series or Movie

    Lee Sung Jin (Beef)

    Talk Series

    The Daily Show with Trevor Noah

    Writing for a Variety Series

    Last Week Tonight with John Oliver

    Outstanding Competition Program

    RuPaul’s Drag Race

    Writing for a Comedy Series

    Christopher Storer (The Bear)

    Directing for a Comedy Series

    Christopher Storer (The Bear)

    Supporting Actress in a Limited or Anthology Series or Movie

    Niecy Nash-Betts (Monster: The Jeffrey Dahmer Story)

    Scripted Variety Series

    Last Week Tonight with John Oliver

    Lead Actor in a Comedy Series

    Jeremy Allen White (The Bear)

    Supporting Actor in a Comedy Series

    Ebon Moss-Bachrach (The Bear)

    Supporting Actor in a Drama Series

    Matthew Macfadyen (Succession)

    Supporting Actress in a Drama Series

    Jennifer Coolidge (The White Lotus)

    Lead Actress in a Comedy Series

    Quinta Brunson (Abbott Elementary)

    Supporting Actress in a Comedy Series

    Ayo Edebiri (The Bear)

Sports News

President of India inaugurates the 5th edition of the Meghalaya Games

  • The President of India, Droupadi Murmu inaugurated the 5th Edition of the Meghalaya Games at the A. Sangma Stadium in Tura, Meghalaya.
  • It is the first time ever that Meghalaya Games have been conducted in Garo hills in Tura.
  • Around 3000 athletes will complete across 23 sports disciplines.
  • The torch relay, flagged off by the Hon’ble Minister of Sports and Youth Affairs, Shakliar Warjri, from SSA Stadium in Shillong.
  • The torch’s journey transcended cultural, linguistic, and tribal differences, promoting unity, inclusivity, and community engagement.

Important Days

Army Day

  • Army Day is annually celebrated on January 15 in India.
  • The day is celebrated in recognition of Lieutenant General Kodandera M. Cariappa’s (later who became Field Marshal) taking over as the first Commander-in-Chief of the Indian Army from General Francis Roy Bucher, the last British Commander-in-Chief of India, on January 15 1949.

National Startup Day 2024

  • National Startup Day is annually celebrated on January 16.
  • The day is observed in order to give startup business owners a forum to talk about innovation for India’s youth and their contribution to the economy.
  • In 2021, Prime Minister Narendra Modi declared January 16 as National Startup Day.
  • The Department for Promotion of Industry and Internal Trade, and the Ministry of Commerce and Industry have marked an entire week as National Startup Week from January 10 to 16.

Defence

36th edition of Indo-Thai coordinated patrol

  • The maiden Bilateral Maritime Exercise 36th edition of Indo-Thai coordinated patrol was conducted between the Indian Navy (IN) and Royal Thai Navy (RTN).
  • Indigenously built Indian Naval ships Kulish and IN LCU 56 participated in the inaugural edition of the exercise.
  • The RTN side was represented by His Thai Majesty’s Ship (HTMS) Prachuap Khiri Khan.
  • The Indo-Thai Bilateral Exercise is being named as ‘Ex-Ayutthaya’, which literally translates to ‘The Invincible One’ or ‘Undefeatable’, and symbolises the significance of two of the oldest cities Ayodhya in India and Ayutthaya in Thailand, the historic legacies, rich cultural ties and shared historical narratives dating back to several centuries.

  • Thailand – Bangkok (Capital) – Thai Baht (Currency) –Vajiralongkorn (Monarch) – Srettha Thavisin (Prime Minister) – Thai (Language)

Daily Current Affairs - January 15 & 16, 2024 - Consolidated

  • NHAI Takes ‘One Vehicle One FASTag’ Initiative to Enhance National Highway Experience
  • Bureau of Indian Standards issues ‘Standardized Development and Building Regulations, 2023’
  • Haryana CM Lays Foundation for Medical College and Hospital in Panchkula
  • Reserve Bank of India imposes Monetary Penalty
  • RBI releases draft norms for fintech self-regulatory organisations
  • RBI to tighten norms for deposit-taking housing finance companies
  • IndusInd Bank ties up with EazyDiner to launch credit card
  • Government imposes 50% export duty on molasses
  • India Signs Agreement for Lithium Exploration & Mining Project in Argentina
  • Pixxel opens new spacecraft manufacturing facility in Bengaluru
  • India Meteorological Department (IMD) launches Panchayat Mausam Sewa Portal for farmers
  • Bernardo Arevalo sworn in as Guatemala’s president
  • Denmark’s King Frederik X Takes Throne
  • Vice Admiral AN Pramod assumes charge as Director General naval operations
  • Vice Admiral Vineet Mccarty takes over as the commandant, Indian Naval Academy, Ezhimala
  • Gujarat, Kerala, Karnataka best performing States in developing startup ecosystem: DPIIT
  • India ranked 35th in Future Possibility Index
  • Emmys Awards 2024
  • President of India inaugurates the 5th edition of the Meghalaya Games
  • Army Day 
  • National Startup Day 2024 
  • 36th edition of Indo-Thai coordinated patrol

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