Daily Current Affairs – January 19 & 20, 2024
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Daily Current Affairs - Banking - January 19 & 20, 2024
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National News
Cabinet Approval
- The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi approved proposal for equity investment by (i) South Eastern Coalfields Limited (SECL) for setting-up 1×660 MW Thermal Power Plant through JV of SECL and MPPGCL; and (ii) Mahanadi Coalfields Limited (MCL) for setting-up 2×800 MW Thermal Power Plant through Mahanadi Basin Powe Ltd (MBPL – a subsidiary of MCL).
- Also approved a Memorandum of Understanding (MoU) between India and the European Commission on Working Arrangements on Semiconductors Ecosystems, its supply chain and innovation under the framework of EU-India Trade and Technology Council (TTC).
- And approved a Memorandum of Understanding signed between the Central Drugs Standard Control Organization (CDSCO), Union Ministry of Health and Family Welfare and Agencia Nacional de Regulaction, Control Y Vigilancia Sanitria – ARCSA, Doctor Leopoldo Izquieta Perez, The Republic of Ecuador on cooperation in the field of Medical Products Regulation.
- The cabinet also approved a Memorandum of Understanding (MoU) signed on between Union Ministry of Electronics and Information Technology and the Government of the Republic of Kenya through the Ministry of Information, Communications and digital Economy on cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation.
- Also approved a Memorandum of Understanding signed between the Central Drugs standard Control Organization (CDSCO), Ministry of Health and Family Welfare, India and Directorate General for Medicine, Foods and Sanitary Products Organizations of Ministry of Public Health and Social Assistant of Dominican Republic on cooperation in the field of Medical Products Regulation.
- The cabinet also approved a Memorandum of Intent (MoI) signed between the Central Drugs standard Control Organization (CDSCO), Ministry of Health and Family Welfare, Government of India and the Ministry of Health, Welfare and Sport, Kingdom of the Netherlands on behalf of Medicines Evaluation Board, Health and Youth Care Inspectorate, Central Committee on research Involving Human Subjects “on cooperation in the field of Medical products Regulation”.
Farsi Would be the 9th Indian Classical Language
- Union External Affairs Minister S Jaishankar announced that the Indian government has included Farsi (Persian) as one of the nine classical languages in India under the New Education Policy.
- According to the National Education Policy-2020 of India, Pali and Prakrit along with Farsi (Persian) should be preserved.
- There are Six classical languages of India.
- In 2004 Tamil was the first Indian language accorded as a classical language, later Odia added in 2014 was the last Language declared as a classical language.
- The classical languages were Tamil, Sanskrit, Kannada, Telugu, Malayalam and Odia.
Ministry of Textiles approves 11 R&D projects valuing INR 103 Crores across different areas of Technical Textiles
- The Union Minister for Textiles, Commerce and Industry and Consumer Affairs, Food and Public Distribution, Piyush Goyal, while chairing the 8th Meeting of the Mission Steering Group (MSG) of National Technical Textiles Mission (NTTM) emphasized on the need for enhancement of collaborative efforts among the Government and industry to enhance indigenous development of technical textiles products.
- The Ministry of Textiles approved 11 project proposals, including 9 R&D projects, 1 project on machine development and 1 project on equipment development, worth approx. ₹103 crores.
- One of the projects focused on development of high-strength carbon fibre for strategic applications to make India self-reliant in the field of Technical Textiles.
- The projects cover different application areas of technical textiles including 2 projects of Protech, 2 Meditech, 2 Mobiltech, 1 Buildtech, 2 Smart Textiles and 1 project of Sustainable Textiles.
- Amongst the approved projects, research projects were led by institutes and research bodies including CSIR-NAL, ATIRA, NITRA, IIT Delhi, ICT- Mumbai, NIT-Jalandhar, Colorjet India Ltd. among others.
Defence Minister inaugurates 29 bridges & six roads constructed by BRO across seven States/Union Territories
- Defence Minister Rajnath Singh dedicated to the nation 35 infrastructure projects of Border Roads Organisation (BRO), built at a cost of ₹670 crores, during an event organised at Joshimath-Malari Road in Uttarakhand.
- Raksha Mantri commended the BRO for strengthening the border infrastructure of the country and asserted that by constructing roads, bridges, the organisation is connecting the far-flung areas with the rest of the nation geographically, while also linking the hearts of the people residing in remote villages with the rest of the citizens.
- Border Roads Organisation (BRO) – 07/05/1960 (Founded) – New Delhi (HQ) – Lieutenant General Raghu Srinivasan (Director General)
State News
Wings India 2024 held at Hyderabad
- Wings India 2024, Asia’s largest civil aviation exhibition, took off at the Begumpet airport in Hyderabad.
- The four-day exhibition displays demonstration flights, static displays, media conferences, business meetings and more.
- Union Minister for Civil Aviation Jyotiraditya Scindia, Minister of State for Civil Aviation General K. Singh and Telangana Minister for Roads, Buildings and Cinematography Komatireddy Venkat Reddy inaugurated the event, along with representatives of the Airports Authority of India (AAI) and Federation of Indian Chamber of Commerce and Industry (FICCI).
- The Sarang helicopter team of the Indian Air Force (IAF) showcased their precision manoeuvres and captivated the audience.
- India’s youngest low-cost airline, Akasa Air, formally placed an additional order for 150 Boeing 737 MAX aircraft, making it the first Indian airline to order over 200 aircraft within 17 months of operation.
- This includes B737 Max 8-200 and Max 10.
- GMR Aero Technic, the MRO division of GMR Air Cargo and Aerospace Engineering Ltd (GACAEL), launched GMR Aviation School in collaboration with Airbus, which will offer integrated 4-year licenced aircraft maintenance engineering programmes approved by the Directorate General of Civil Aviation (DGCA) and European Union Aviation Safety Agency (EASA).
- Mangaluru International Airport (MIA) has been adjudged the ‘best airport’ in the under 5 million passenger category at Wings India 2024.
- Jyotiraditya Scindia, Union Civil Aviation Minister, presented the award to MIA.
- Airports Authority of India (AAI) – 01/04/1995 (Founded) – New Delhi (HQ) – Sanjeev Kumar (Chairman)
Artificial reef project inaugurated in Thiruvananthapuram
- Union Minister for Fisheries and Animal Husbandry Parshottam Rupala, who inaugurated the deployment of artificial reefs off the coast of 42 fishing villages in Thiruvananthapuram district of Kerala.
- The project is meant to boost fish resources and promote sustainable management.
- In all, 6,300 artificial reef units – 150 for each of the villages – will be deployed under this initiative.
- The project is being implemented by the Kerala State Coastal Area Development Corporation (KSCADC) with technical support from the Central Marine Fisheries Research Institute (CMFRI).
- Under the project, 150 reinforced cement concrete (RCC) reef modules in three distinct shapes – triangular (80 units), floral (35 units), and fused pipe type (35 units) – have been assigned for each of the 42 villages from Pozhiyoor to Varkala.
- The sites were selected in consultation with local fishing groups.
- According to the government, the modules – each weigh over one tonne – will be positioned with the help of GPS and deposited on the seabed at a depth of 12 to 15 fathoms.
- The ₹13.02 crore project is being implemented under the Central Government’s Pradhan Mantri Matsya Sampada Yojana (PMMSY).
- The Department of Fisheries, Government of India, has proposed artificial reefs in 3,477 fishing villages across the coastline of the country.
- The Centre has cleared ₹302 crores for artificial reef installation and promotion of sustainable fisheries and livelihood in Kerala.
Arunachal Pradesh celebrates Pakke Paga Hornbill Festival
- The 9th edition of the Pakke Paga Hornbill Festival (PPHF) commenced in the town of Seijosa in Pakke Kessang district of Arunachal Pradesh.
- Seijosa is located near the Pakke Tiger Reserve (PTR), which is home to four species of hornbills: Wreathed, Great Indian, Oriental Pied and the endangered Rufous-necked.
- Arunachal’s Tourism, CA, TPT, and Land Management Minister Nakap Nalo inaugurated the festival.
- The area is the traditional homeland of the Nyishi people, the largest tribal group in Arunachal Pradesh.
- The first-ever PPHF was held on January 16-18, 2015.
- The aim was to recognise the role played by the Nyishi in conserving hornbills in PTR.
- The Nyishi had formerly hunted hornbills and used their bills to craft traditional headgear.
- They had later turned hornbill conservationists.
Himachal Pradesh launches ‘My School-My Pride’ campaign to transform govt education system
- Himachal Pradesh has unveiled the ‘My School-My Pride’ campaign under the ‘Apna Vidyalay’ programme, aimed at revolutionising the quality of education in government schools.
- This initiative will encourage active participation from individuals and organisations to adopt schools and contribute to various aspects of students’ growth.
- Under the programme, stakeholders will be urged to provide career counselling, offer remedial teaching, coach students for examinations, and engage in community support services.
- The initiative also involves monetary contributions for infrastructure development, event sponsorship, scholarships, and support for the Mid-Day Meal (MDM) programme.
- Under the programme, ‘Giving back to society’ initiative retired teachers or other employees, professionals, housewives or any other member of the society will be encouraged to come forward and become a member of the academic support team to teach the students without taking any payment or honorarium.
- This team will step in during teacher shortages or leaves, ensuring continuous academic support.
- Non-academic teams will contribute to sports, co-curricular activities, skill training, arts, and more.
Mamata Banerjee inaugurates 47th International Kolkata Book Fair
- West Bengal Chief Minister Mamata Banerjee inaugurated the 47th edition of the International Kolkata Book Fair.
- The United Kingdom is the theme country for this year’s fair, which has about 1,000 stalls and is scheduled to run from January 18 to January 31 at Salt Lake’s Central Park.
- British High Commissioner to India, Alex Ellis, the special guest of honour at the inauguration, described the book fair as the second biggest in the world, and bigger than the London Book Fair.
- This year marks the U.K. as the theme country for the fourth time at the International Kolkata Book Fair.
- Veteran Bengali writer and Sahitya Akademi award winner Bani Basu was honoured with the lifetime ‘Rama Prasad Goenka CESC Srishti Samman 2024’ for her contribution to literature.
Andhra Pradesh CM unveils world's largest Ambedkar statue in Vijayawada
- Andhra Pradesh Chief Minister YS Jagan Mohan Reddy unveiled the world’s largest statue of Dr BR Ambedkar in Vijayawada.
- Named the ‘Statue of Social Justice’, the idol is 206-foot tall.
- The sculpture is situated on an 81-foot pedestal at the Ambedkar Smriti Vanam at Swaraj Maidan.
- The foundation stone of the memorial was laid by N. Chandrababu Naidu, the Chief Minister of Andhra Pradesh on the 126th birth anniversary of Ambedkar in 2017.
- It is the fourth tallest, and the second tallest standing statue in India.
- The Statue of Social Justice is among the top 40 tallest statues in the world.
- The second-tallest Ambedkar statue, which is 175 feet, is situated in neighbouring Telangana, Hyderabad.
- The statue has been built in 18.81 acres (7.61 ha) in the Dr. B.R. Ambedkar Smriti Vanam in Vijayawada at a cost of ₹404.35 crore.
Prime Minister lays foundation stone for 8 AMRUT projects in Solapur, Maharashtra
- The Prime Minister, Narendra Modi laid the foundation stone of 8 AMRUT (Atal Mission for Rejuvenation and Urban Transformation) projects worth around ₹2,000 crores in Solapur, Maharashtra.
- He dedicated to the nation more than 90,000 houses completed under PMAY-Urban in Maharashtra and 15,000 houses of Raynagar Housing Society in Solapur, whose beneficiaries comprise thousands of handloom workers, vendors, power loom workers, rag pickers, Bidi workers, drivers, among others.
- He also initiated the distribution of 1st and 2nd instalments to 10,000 beneficiaries of PM-SVANIDHI in Maharashtra during the programme.
Schemes
Assam Chief Minister announced Mukhya Mantri Mahila Udyamita Asoni
- Assam chief minister Himanta Biswa Sarma announced the Mukhya Mantri Mahila Udyamita Asoni scheme aimed to help 3.9 million women associated with self-help groups (SHGs).
- The new scheme will help to those women who want to start their entrepreneurial journey separately from the SHGs they are associated with.
- In the first phase, each applicant will be provided with a grant of ₹10,000 for the first year to start any business from a list of 145 business plans prepared by the government.
- The total amount earmarked by the scheme as part of the state annual budget is ₹3,900 crores, making it the biggest such scheme in the state.
- To be eligible for the grant, women from the general and other backward caste (OBC) categories (except from the Moran, Muttock and tea-tribe communities) will need to have not more than three children.
- Women from Moran Muttock and tea-tribe communities will be eligible if they have four or lesser number of children.
- For women from Scheduled Tribe (ST) and Scheduled Caste (SC) categories they will not qualify for the scheme if they have more than four children.
Banking and Finance
IREDA and Indian Overseas Bank join hands in co-lending for Renewable Energy Projects
- Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with Indian Overseas Bank (IOB), setting the stage for collaborative efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects across the nation.
- Encompassing a range of services, the MoU includes provisions for co-lending and co-origination support for all Renewable Energy projects.
- The partnership aims to streamline loan syndication and underwriting processes, management of Trust and Retention Account (TRA) for IREDA borrowers, and work towards fixed interest rates over a 3–4-year period for IREDA borrowings.
- The agreement was inked at IREDA’s Business Centre in New Delhi by General Manager, IREDA, R. C. Sharma and Chief Regional Manager, IOB, Anil Kumar in the presence of Chairman & Managing Director of IREDA, Shri Pradip Kumar Das; MD & CEO of IOB, Ajay Kumar Srivastava; and Director (Finance), IREDA, Dr. Bijay Kumar Mohanty.
- This strategic partnership between IREDA and Indian Overseas Bank marks a significant step in our commitment to accelerate the growth of renewable energy in the country.
- By combining our strengths and resources, we aim to provide robust financial support to a diverse range of Renewable Energy projects, fostering sustainability and environmental awareness.
- Through the MoU and prior agreements with other leading financial institutions, IREDA is well-positioned to fund large-scale renewable energy projects, aligning with the Hon’ble Prime Minister’s COP26 announcement of achieving a 500 GW Non-Fossil-based electricity generation capacity by
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Total corpus under pension funds crosses ₹11 lakh crores
- The Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty told that the total corpus under the National Pension System and Atal Pension Yojana has crossed ₹11 lakh crore on January 10, 2024.
- The AUM has increased from ₹10 lakh crore to ₹11 lakh crore in 4 months 18 days (August 24, 2023 to January 10, 2024), he said, adding the private sector AUM crossed ₹2 lakh crore.
- The authority in September revised the AUM target of ₹12 lakh crore for the current fiscal.
- Pension Fund Regulatory and Development Authority (PFRDA) – 23/08/2003 (Founded) – New Delhi (HQ) – Deepak Mohanty (Chairman)
LIC introduces Jeevan Dhara II deferred annuity plan
- The Life Insurance Corporation of India (LIC) has introduced Jeevan Dhara II, a new individual, savings, deferred annuity plan.
- Under the plan, annuity is guaranteed from inception and as many as 11 annuity options will be available.
- There is higher annuity rates at higher ages and life cover will be available during the deferment period.
- The minimum age at entry should be 20 years (last birthday) and maximum 80, 70, 65 years minus the deferment period depending upon the annuity option chosen.
- There is flexibility to choose from, including regular and single premium; single life and joint life annuity; and available deferment period.
- Other features of the non-linked, non-participating plan, subject to certain conditions, include incentive by way of increase in the annuity rate for high premium/purchase price/for online sale; top-up annuity and option to receive a lump-sum amount in return of reduction in annuity payments.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Agreements and MoUs signed
Airbus signed MoU with CSIR-Indian Institute of Petroleum (CSIR-IIP)
- Airbus and the CSIR-Indian Institute of Petroleum (CSIR-IIP) have signed an MoU to develop new technologies and to test and qualify indigenous sustainable aviation fuel (SAF) in the country.
- The collaboration will address the Indian aerospace industry’s decarbonisation ambitions by supporting SAF production and commercialisation, using a new HEFA technology pathway and locally sourced feedstocks.
- The entities will jointly work on technical assessment, approvals, market access and sustainability accreditation efforts for the production of SAF.
Summit & Conference
Kiren Rijiju inaugurates the Young Scientist Conference at India International Science Festival 2023
- Union Cabinet Minister for the Ministry of Earth Science Kiren Rijiju, inaugurated the prestigious Young Scientist Conference at the Indian International Science Festival at Faridabad (Haryana).
- The Young Scientist Conference serves as a vibrant platform, bringing together young postgraduates, research scholars, postdocs, academicians, scientists, entrepreneurs, and innovators under the age of 45.
- Participants are drawn from diverse backgrounds, including R&D laboratories, academic institutions, and industries.
- The conference aims to facilitate the exchange of experiences, ideas, and discussions that contribute to the country’s scientific vision.
- The Science Media Communication Cell (SMCC) of CSIR-NIScPR coordinated the media publicity and visibility of the Young Scientist Conference for print, electronic and social media platforms.
Science and Technology
IIL launches ‘first’ indigenously developed Hepatitis A vaccine
- Indian Immunologicals Ltd (IIL), a wholly-owned subsidiary of National Dairy Development Board (NDDB), launched India’s ‘first’ indigenously developed Hepatitis A vaccine,
- Hepatitis A, a highly contagious liver viral infection that poses a significant public health challenge primarily spreads through the fecal-oral route, meaning that it is transmitted through the ingestion of contaminated food or water.
- Havisure is expected to play a key role to protect against the Hepatitis A virus, which primarily affects the
- The vaccine is effective in preventing the disease and is recommended for children in routine immunisation.
- Priced at ₹2,150 per dose, it is a two-dose vaccine wherein the first dose is administered at above 12 months of age and the second dose is given at least after 6 months of the first dose.
- The vaccine is also recommended for individuals who are at risk of exposure or travel to the regions with high hepatitis A prevalence.
- National Dairy Development Board (NDDB) – 16/07/1965 (Founded) Anand, Gujarat (HQ) – Meenesh Shah (Chairman)
Appointments
RBI clears appointment of whole-time director for 3 years by Bandhan Bank
- Reserve Bank of India (RBI) has granted approval for the appointment of Rajinder Kumar Babbar as Whole-Time Director (designated as Executive Director) of Bandhan Bank for a period of three years.
- The lender added that Babbar’s three-year tenure will begin from the date of taking charge, which should be within three months from the date (January 17, 2023).
PepsiCo India appoints marketing chief Jagrut Kotecha as its new CEO
- PepsiCo India appointed Jagrut Kotecha as its chief executive officer (CEO), saying he will take over from Ahmed El Sheikh, who held the position for seven years.
- Kotecha is the company’s chief marketing officer in Africa, Middle East, and South Asia (AMESA).
- He will assume the CEO’s role in March 2024.
- Sheikh will become the CEO for the Middle East business unit.
Reports
Brand Finance Global 500 2024 report
- The world’s top 500 most valuable and strongest global brands are included in the annual Brand Finance Global 500 2024 ranking.
- Apple had reclaimed its title as the world’s most valuable brand.
- Microsoft, Google, Amazon and Samsung were topped the five position respectively.
- Reliance Jio and SBI, claiming the titles of 17th and 24th strongest brands globally, respectively.
- Tata Group was highlighted as the most valuable brand from South Asia, with an 8.5 per cent increase in brand value, now standing at $28.6 billion.
- Infosys marked the list with its brand value of $14.2 billion, with a 9.2 per cent increase, and a brand strength index score of 83.5, ranked at 98th
- Other Indian brands like LIC, HDFC, Reliance Group, Airtel, HCL Tech, Wipro, Mahindra Group, L&T, Indian Oil, Crédit Agricole, and Bajaj Group were the companies among Indian companies making their place in the report.
- Additionally, HCLTech became the fastest-growing brand in the top 10 this year achieving 16 per cent growth, as per the report.
Awards and Recognitions
NHPC honoured with SCOPE’s 'Commendation Certificate' for Effective Implementation of RTI Act
- NHPC Limited, India’s premier hydropower company, has been awarded SCOPE’s ‘Commendation Certificate’ in the category of Effective Implementation of RTI Act.
- The certificate has been presented by Vice President of India Jagdeep Dhankhar, during the SCOPE Awards ceremony at Vigyan Bhawan in New Delhi.
- CMD, NHPC, K. Vishnoi and Director (Personnel), NHPC Uttam Lal received the award.
Sports News
Prime Minister inaugurated Khelo India Youth Games 2023
- Prime Minister Narendra Modi inaugurated the 6th edition of ‘Khelo India Youth Games 2023’ in the presence of Tamil Nadu Governor R.N. Ravi and Chief Minister M.K. Stalin in Jawaharlal Nehru stadium, Chennai.
- For the first time, Tamil Nadu’s Silambam is set to debut as ‘demo sports’.
- Besides Chennai, the events for the national sports meet are scheduled to take place in Coimbatore, Madurai and Tiruchi.
- Over 5,500 men and women excelling in various sports disciplines, over 1,600 coaches are expected to take part in these events in these four cities.
Tata retains IPL title rights for five years till 2028
- Tata Sons has retained the Indian Premier League (IPL) title sponsorship rights from 2024 to 2028 after matching Aditya Birla Group’s (ABG) bid of ₹2500 crores, i.e. ₹500 crores per year.
- Aditya Birla Group was the only company to bid for the rights this year.
- Tata Sons has been the IPL’s title sponsor since 2022 and had paid ₹670 crores for the two-year rights.
Important Days
Tripura celebrates 46th Kokborok Day
- Tripura observes Kokborok Day, also known as Tripuri Language Day, dedicated to nurturing the Kokborok language on January 19.
- “Kok” means language, “borok” means people
- This significant day pays tribute to 1979 when Kokborok received official recognition, marking the 46th anniversary this year.
Penguin Awareness Day 2024
- Penguin Awareness Day is celebrated every year on January 20.
- The purpose of the day is to increase public awareness of penguins and their habitats.
- This day emphasizes protecting penguin habitats in an effort to promote the conservation of penguins worldwide.
- The Day was established in 1972 by Gerry Wallace of Alamogordo, California.
Daily Current Affairs - January 19 & 20, 2024 - Consolidated
- Cabinet Approval
- Farsi Would be the 9th Indian Classical Language
- Ministry of Textiles approves 11 R&D projects valuing INR 103 Crores across different areas of Technical Textiles
- Defence Minister inaugurates 29 bridges & six roads constructed by BRO across seven States/Union Territories
- Wings India 2024 held at Hyderabad
- Artificial reef project inaugurated in Thiruvananthapuram
- Arunachal Pradesh celebrates Pakke Paga Hornbill Festival
- Himachal Pradesh launches ‘My School-My Pride’ campaign to transform govt education system
- Mamata Banerjee inaugurates 47th International Kolkata Book Fair
- Andhra Pradesh CM unveils world’s largest Ambedkar statue in Vijayawada
- Prime Minister lays foundation stone for 8 AMRUT projects in Solapur, Maharashtra
- Assam Chief Minister announced Mukhya Mantri Mahila Udyamita Asoni
- IREDA and Indian Overseas Bank join hands in co-lending for Renewable Energy Projects
- Total corpus under pension funds crosses ₹11 lakh crores
- LIC introduces Jeevan Dhara II deferred annuity plan
- Airbus signed MoU with CSIR-Indian Institute of Petroleum (CSIR-IIP)
- Kiren Rijiju inaugurates the Young Scientist Conference at India International Science Festival 2023
- IIL launches ‘first’ indigenously developed Hepatitis A vaccine
- RBI clears appointment of whole-time director for 3 years by Bandhan Bank
- PepsiCo India appoints marketing chief Jagrut Kotecha as its new CEO
- Brand Finance Global 500 2024 report
- NHPC honoured with SCOPE’s ‘Commendation Certificate’ for Effective Implementation of RTI Act
- Prime Minister inaugurated Khelo India Youth Games 2023
- Tata retains IPL title rights for five years till 2028
- Tripura celebrates 46th Kokborok Day
- Penguin Awareness Day 2024