Important Monthly Current Affairs Capsule - December 2023

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Important Monthly Current Affairs Capsule – December 2023
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S. No Topics Page No
1. IMPORTANT DAYS 03
2. NATIONAL NEWS 09
3. INTERNATIONAL NEWS 42
4. STATE NEWS 56
5. BUSINESS NEWS 70
6. BANKING AND ECONOMY 76
7. AWARDS AND HONOURS 132
8. APPOINTMENTS & RESIGNATIONS 139
9. MOUS AND AGREEMENT 153
10. RANKING AND INDEXES 160
11. DEFENCE NEWS 165
12. SCIENCE & TECHNOLOGY 172
13. ACQUISITIONS & MERGERS 186
14. SPORTS NEWS 189
15. OBITUARIES 196
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IMPORTANT DAYS
World AIDS Day: 1st December
• World AIDS Day 2023 is observed on the 1st of December 2023.
• On 1st December, WHO, together with communities and partners will commemorate World AIDS
Day 2023, under the theme “Let communities lead”.
• World AIDS Day was first initiated in 1998 and observed on December 1.
• World AIDS Day was the first day celebrated for health awareness.
National Pollution Control Day: 2nd December
• National Pollution Control Day 2023 is observed on the 2nd of December 2023.
• National Pollution Control Day is observed to create awareness about pollution which is causing
harm to our environment and living beings.
• It is nationally observed for the remembrance of an Industrial accident that took place in Bhopal
which took thousands of lives in 1984.
• The Bhopal gas tragedy happened on the night of 2nd and 3rd December in the year 1984
because of the unintentional discharge of the poisonous chemical known as Methyl Isocyanate
(also called MIC) as well as some other chemicals released from the Union Carbide Chemical
Plant positioned in the city.
International Day for the Abolition of Slavery: 2nd December
• International Day for the Abolition of Slavery 2023 is observed on the 2nd of December 2023.
• The International Day for the Abolition of Slavery focuses on eradicating modern forms of slavery
like trafficking, sexual exploitation, child labour, forced marriage, and forced recruitment of children
into armed conflict.
• The International Labor Organization puts the number of victims of modern slavery at 40 million
worldwide.
• U.N. Working Group on Slavery submitted a report that tendered the date for consideration as the
World Day for the Abolition of Slavery in 1985.
World Computer Literacy Day: 2nd December
• World Computer Literacy Day 2023 is observed on the 2nd of December 2023.
• World Computer Literacy Day was launched in 2001 by an Indian company called N.I.I.T. to
celebrate its 20th anniversary.
• The Company was founded in 1981 by Rajendra Singh Pawar and Vijay K. Thadani. N.I.I.T stands
for National Institute of Information Technology, is a skills and talent development company.
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International Day of Persons with Disabilities 2023 Theme and History: 3rd December
• International Day of Persons with Disabilities 2023 is observed on the 3rd of December 2023.
• The theme for 2023 is 'United in action to rescue and achieve the sustainable development goals
for, with and by persons with disabilities'.
• In 1976, the UN General Assembly decided that from 1981 International Day of Persons with
Disabilities will be celebrated globally.
• The UN announced 3rd December as the official date for celebrating the International Day of
Persons with Disabilities.
• The first Paralympic games were hosted in 1960.
Indian Navy Day: 4th December

• Indian Navy Day 2023 is observed on the 4th of December 2023.
• The Indian Navy was established by the East India Company in 1612.
• Indo-Pakistan took place in 1971.
• During the war, Pakistan launched an attack on December 3 on Indian air bases.
• In response to their offensive attacks, the Indian Navy planned an attack on the night of December
4 & and 5, as Pakistan didn’t have the aircraft to carry out bombings.
International Volunteer Day: 5th December
• International Volunteer Day 2023 is observed on the 5th of December 2023.
• This year's theme is "If everyone did..."
• Volunteerism started in Europe to support elderly people within the community by carrying out
Church-related work and helping the poor.
• Organized Volunteering was started in the 18th Century and mainly to carry out military services
rather than give back to society.
World Soil Day: 5th December
• World Soil Day 2023 is observed on the 5th of December 2023.
• Life begins and ends from the soil.
• It’s the source of food, medicine, and naturally filters water through its layers and making it pure
water to drink.
• Most of us take soil for granted and assume it will always be around. But that’s not the truth.
• It takes 200 to 400 years to form a 1cm layer of soil.
• Making fertile soil takes nearly 3000 years.
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• In 2014, the U.N. General Assembly designated December 5 as the first official World Soil Day at
the 68th UN General Assembly.
International Anti Corruption Day: 9th December
• International Anti Corruption Day 2023 is observed on the 9th of December 2023.
• Corruption has existed from time immemorial.
• Some of the earliest records of Anti Corruption texts can be found in the Code of Hammurabi of
Babylonia, the Great Edict of Horemheb in Egypt, and Arthashastra in India.
• These texts spoke about bribery practices among officers of the state and law.
• The Concept of Public Interest and welfare started to begin in the 19th Century.
Human Rights Day: 10th December
• Human Rights Day 2023 is observed on the 10th of December 2023.
• Human Rights Day's first observation was started in 1948 when the United Nations General
Assembly adopted the Universal Declaration of Human Rights.
• The day was popular to all when the UN issued a Human Rights Stamp which covered and
understood the concept by millions of people.
Nobel Prize Day: 10th December
• Nobel Prize Day 2023 is observed on the 10th of December 2023.
• Alfred Nobel's father was an engineer himself and Alfred Nobel expressed early interest in
engineering, and explosives in particular.
• Nobel became interested in stabilizing the unpredictable explosive nitroglycerin. While
conducting the experiments an unexpected accident took place which cost the life of his brother.
• Alfred Nobel died on 10 December 1896, in Sanremo, Italy, at his very last residence, Villa Nobel,
overlooking the Mediterranean Sea.
International Mountain Day: 11th December
• International Mountain Day 2023 is observed on the 11th of December 2023.
• The United Nations General Assembly declared the International Year of Mountains in 2002.
• The U.N. establishes December 11 as International Mountain Day each year for the protection and
sustainability of mountains.
• Mountain Day is established and celebrated in Japan as a national holiday for people.
UNICEF Foundation: 11th December

• UNICEF Foundation Day 2023 is observed on the 11th of December 2023.
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• UNICEF was created by the U.N. Relief Rehabilitation Administration in 1946 to provide relief
funds for children and mothers affected by World War II with immediate aid.
• In that same year, the U.N. General Assembly founded the United Nations International Children’s
Emergency Fund (UNICEF) to further institutionalize post-war relief work.
• UNICEF relies entirely on contributions from governments and private donors.
• In 2019, UNICEF’s 137 government partners, along with intergovernmental organizations and
inter-organizational arrangements, contributed $4.7 billion.
Universal Health Coverage Day: 12th December
• Universal Health Coverage Day 2023 is observed on the 12th of December 2023.
• The first healthcare system was established by a German named Chancellor Otto von Bismarck in
1883.
• The insurance model, called the ‘Bismarckian system’, required everyone to have insurance for
their medical expenses, which was similar to the current-day non-profit health insurance
companies.
• The World Health Organization is part of the United Nations and is responsible for international
public health.
National Energy Conservation Day: 14th December
• National Energy Conservation Day 2023 is observed on the 14th of December 2023.
• National Energy Conservation Day 2023 was first observed on December 14th, 1991 by the
Bureau of Energy Efficiency BEE, under the Union Ministry of Power which falls under the
government of India.
• The Bureau of Energy Efficiency assists in developing and implementing strategies
and policies to reduce excessive energy consumption.
• The committee also executed ‘The Energy Conservation Act’ in 2001.
• The main objective of the day is to reduce energy use and encourage people to use it efficiently.
About BEE
• The Government of India set up the Bureau of Energy Efficiency (BEE) on March 1, 2002, under
the provisions of the Energy Conservation Act, 2001.
• The mission of the Bureau of Energy Efficiency is to assist in developing policies and strategies
with a thrust on self-regulation and market principles, within the overall framework of the Energy
Conservation Act, 2001 with the primary objective of reducing the energy intensity of the Indian
economy.
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Vijay Diwas: 16th December

● Vijay Diwas 2023 is observed on the 16th of December 2023.
● Vijay Diwas is celebrated for the remembrance of the victory of the Indian Armed Forces in
‘Operation: Vijay’ against the infiltrating Pakistani troops.
● Rich tributes are given to the Armed Soldiers who lost their lives in the war.
● Pakistani troops attacked 11 Indian airfields that proved the war on December 3, 1971.
● At that time Indira Gandhi was the Prime Minister of India.
● The war ended in just 13 days which is considered as one of the shortest wars in history.
Minorities Rights Day in India: 18th December

● Minorities Rights Day 2023 is observed on the 18th of December 2023.
● Minorities Rights Day was first observed on December 18th, 1992 by the United Nations.
● The UN adopted the statement on the individual Rights belonging to religious or Linguistic
National or Ethnic Minorities.
● In India, it is the responsibility of the National Commission for Minorities (NCM) to carry out the
events on this day.
● The NCM was established by the Union Government under the National Commission for
Minorities Act, in 1992.
International Migrants Day: 18th December

● International Migrants Day 2023 is observed on the 18th of December 2023.
● Although the day was established in 2000, it has been observed since 1997 that several Asian
migrant organizations designated December 18 as the day to advocate for the respect, rights,
and protection of migrants.
● On account of the ever-increasing number of migrants around the world, on December 4, 2000,
the United Nations General Assembly declared December 18 as the day for International
Migrants
Goa’s Liberation Day: 19th December

● Goa’s Liberation Day 2023 is observed on the 19th of December 2023.
● Goa was still in disrepair after 450 years of Portuguese rule on August 15, 1947, when India
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attained freedom.
● One of the first nations to colonize sections of India was Portugal, which continued to cling onto
Goa and other Indian regions even after India gained her freedom.
● Action Vijay, which translates to "Operation Victory," was a 36-hour military operation that began
on December 18, 1961, and by the combined forces of the Indian Navy, Air Force, and Army.
● 451 years of Portuguese rule in the region officially came to an end and the territory was taken
back by India on December 19, 1961.
International Human Solidarity Day: 20th December

● International Human Solidarity Day 2023 is observed on the 20th of December 2023.
● On December 22, 2005, the UN General Assembly recognized solidarity as one of the
fundamental and enduring values of the twenty-first century by passing Revolution 60/209.
● Through the creation of the World Solidarity Fund to end poverty and the declaration of
International Human Solidarity Day, the idea of solidarity was propagated.
National Mathematics Day: 22nd December

• National Mathematics Day 2023 is observed on the 22nd of December 2023.
• The renowned mathematician Srinivasa Ramanujan, whose works had a widespread impact both in
India and around the world, is the driving force behind the establishment of Mathematics Day in that
country.
• Ramanujan was born in 1887 to an Iyengar Brahmin family in Erode, Tamil Nadu. Despite having
little formal schooling, he mastered trigonometry at the age of 12 and created a number of his own
theorems.
• In 1918, he also became a Fellow of the Royal Society, one of the youngest individuals to hold this
prestigious status.
National Consumer Rights Day: 24th December
● National Consumer Rights Day 2023 is observed on the 24th of December 2023.
● When India's Consumer Protection Act of 1986 was passed, consumer rights were given serious
consideration. .
● On August 6, 2019, India's parliament passed the amended Consumer Protection Bill, taking into
account this dynamic and modern economy.
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● The Right to Information Act, which made India's governance procedures open to the public and had
significant ramifications for consumer rights, is a supplement to the Consumer Protection Acts of
1986 and 2019.
Christmas Day: 25th December

• Christmas Day 2023 is observed on the 25th of December 2023.
• The truth is that nobody is certain of the date and location of Jesus' birth.
• Sextus Julius Africanus, the earliest Christian historian, is largely responsible for the creation of
December 25.
• The birth of Jesus would take place exactly nine months later, on December 25.
Good Governance Day: 25th December
• Good Governance Day 2023 is observed on the 25th of December 2023.
• Good Governance Day 2023 is observed for the birth anniversary of Former prime minister Atal
Bihari Vajpayee.
• Atal Bihari Vajpayee, a former prime minister, and Pandit Madan Mohan Malaviya were both named
as recipients of the Bharat Ratna, the country's highest civilian honor, on December 23, 2014.
NATIONAL NEWS
Raksha Mantri Rajnath Singh approves capital acquisition proposals worth Rs 2.23 lakh crore to boost
Indian Defence Industry
• Defence Acquisition Council headed by Raksha Mantri Rajnath Singh approved capital acquisition
proposals worth 2 lakh 23 thousand crore rupees to enhance the operational capabilities of the
Armed Forces.
• Defence Ministry, 98 per cent of the total amount will be sourced from domestic industries.
• This will give a substantial boost to the Indian Defence Industry with the aim of achieving the goal
of Aatmanirbharta.
• The Council has approved the procurement of two types of Anti-tank Munitions namely, Area
Denial Munition (ADM) Type-2 and Type-3, which are capable of neutralising Tanks and Armoured
personnel carriers and enemy personnel.
World's first portable hospital 'Aarogya Maitri Aid Cube' unveiled in Gurugram
• The World's first portable hospital, 'Aarogya Maitri Aid Cube' was unveiled in Gurugram.
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• Designed indigenously under the Project 'BHISHM', the modular trauma management and aid
system is made up of 72 detachable mini-cubes, each being a specialized station for emergency
response and humanitarian efforts.
• It can handle bullet injuries, burns, head, spinal and chest injuries, minor surgeries, fractures and
major bleeding.
• These cubes are light and portable, and can be rapidly deployed anywhere, from airdrops to
ground transportation.
• Air Vice Marshal Tanmay Roy that the mobile hospital is part of India’s message of health for all
and assisting other nations during their times of crises.
PM launches Green Credit Initiative at COP28 climate conference aimed at reshaping global
environmental policies
• Prime Minister Narendra Modi launched the 'Green Credit Initiative,' a pathbreaking program
aimed at reshaping global environmental policies.
• He also launched the official portal of the Green credit initiative at COP28.
• The Prime Minister highlighted the limitations of the current carbon credit system, influenced by
commercial interests and lacking a sense of social responsibility, paving the way for a new
philosophy embodied in the 'Green Credit' concept.
• Ulf Kristersson, Prime Minister of Sweden, praised the initiative, citing Sweden's success with the
Climate Leap, reducing climate emissions by 3.3 million tonnes per year through collective action.
Mines Ministry Launches First Ever Auction of Critical and Strategic Minerals
• Union Coal and Mines Minister Pralhad Joshi launched the first-ever critical minerals auction
process.
• The first tranche e-auction of Critical & Strategic Minerals was launched by Union Minister of
Parliamentary Affairs, Coal and Mines, Shri Pralhad Joshi here on 29th November, 2023.
• A total of 20 critical mineral blocks will be auctioned in the first tranche, out of which 16 mineral
blocks are put up for grant of Composite Licence and four mineral blocks for grant of Mining Lease.
• SBI Capital Markets Limited and MECL are assisting the Ministry of Mines in conducting the
auction process as a Transaction Advisor and Technical Advisor, respectively.
Indian Railways allows MNCs to deploy indigenous Kavach anti train collision system on network
• India's ability to deploy automatic train collision avoidance systems - Kavach - is expected to get a
fillip with global companies getting approvals to install it on the national transporter.
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• Germany's Siemens and Japan's Kyosan are the two new approved Kavach deployment
companies.
• Railways Minister Ashwini Vaishnaw Kavach deployment will increase to 5000 kilometers (kms)
per annum in the financial year 2025-26, up from 1500 kms annually.
About KAVACH
• The KAVACH is an indigenously developed ATP system by Research Design and Standards
Organisation (RDSO) in collaboration with Indian industry.
• KAVACH is meant to provide protection by preventing trains to pass the signal at Danger (Red)
and avoid collision.
Centre launches first-ever auction of critical mineral blocks to boost economy and support its transition
towards clean energy
• Union Minister for Mines Pralhad Joshi has launched the first-ever tranche auction of critical
mineral blocks at a function in New Delhi.
• Twenty blocks of critical and strategic minerals are being auctioned in the first tranche.
• The blocks include Graphite, Lithium, Molybdenum, nickel, Copper and Potash.
• They are located in Odisha, Chhattisgarh, Jammu and Kashmir, Uttar Pradesh, Jharkhand, Bihar,
Tamil Nadu and Gujarat.
• It is a landmark initiative that will boost India's economy, enhance national security and support its
transition to clean energy.
Cabinet approves Terms of Reference for the Sixteenth Finance Commission

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Terms of
Reference for the Sixteenth Finance Commission.
• The Terms of Reference for the Sixteenth Finance Commission will be notified in due course of
time.
• The 16th Finance Commission’s recommendations, upon acceptance by the government, would
cover the period of five (5) years commencing April 1, 2026.
• Article 280(1) of the Constitutions lays down that the modalities for setting up of a Finance
Commission to make recommendation on the distribution of net proceeds of taxes between the
Union and the States, allocation between the States of respective shares of such proceeds; grants-
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in-aid and the revenues of the States and measures needed to supplement the resources of the
Panchayats during the award period.
• The Fifteenth Finance Commission was constituted on November 27, 2017.
Centre approves reconstruction plan worth over 1658 crore rupees for Joshimath in Uttarakhand
• Centre has approved the recovery and reconstruction plan of over 1658 crore rupees for
Joshimath which was affected by landslide and ground subsidence early this year.
• A High-Level Committee under the chairmanship of Union Home Minister Amit Shah approved the
plan.
• Under it, around 1080 crore rupees of Central assistance will be provided from the recovery and
reconstruction window of the National Disaster Response Fund.
• The Uttarakhand government will provide over 126 crore rupees from its State Disaster Response
Fund towards relief assistance.
Union Minister for Power RK Singh inaugurates National Conference on "Energy Transition in India in
Gandhinagar
• Union Minister for Power and New and Renewable Energy Shri R.K. Singh inaugurated a two-day
National Conference on “Energy Transition in India - Road Travelled and Opportunities Ahead” in
Gandhinagar.
• Shri Kanubhai Desai, Minister of Energy Petrochemicals and Finance, Government of Gujarat was
also present along with other dignitaries on the occasion.
• Organized as a part of the upcoming Vibrant Gujarat Global Summit 2024, the event is being
attended by more than 250 Indian and foreign representatives of power and renewable energy
sector.
Unemployment rate dips to 6.6 pc in Sep quarter
• According to the Periodic Labour Force Survey (PLFS), the unemployment rate in urban areas has
decreased from 7.2% in July-September, 2022 to 6.6% in July–September 2023.
• The unemployment rate was 6.6% for persons under the age of 15 years.
• For persons aged 15 years and above, the worker-population ratio (WPR) in urban areas has
increased from 44.5% in July-September, 2022 to 46% in July-September, 2023.
• For the male category, it has increased from 68.6% to 69.4% while it has increased from 19.7% to
21.9% for women during this period.
Ministry of Tourism launches National Best Tourism Village and National Best Rural Homestays
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Competition 2024
• Ministry of Tourism has launched National Best Tourism Village Competition 2024 and the National
Best Rural Homestay Competition 2024 to strengthen the promotion and development of Rural
Tourism in the country.
• The earlier version of the National Best Tourism Village Competition 2023 recognized 35 villages
all over India in the Gold, Silver, and Bronze categories.
• For the enhancement of Rural Tourism in India the Ministry of Tourism, Government of India
launched the comprehensive National Strategy and Roadmap for the Development of Rural
Tourism in India, along with the National Strategy for the Promotion of Rural Homestays.
India re-elected to International Maritime Organisation with the highest vote tally
• In elections held at its assembly for the 2024–25 biennium, India was re-elected to the International
Maritime Organisation (IMO) Council with the highest tally.
• India's re-election falls under the Category of 10 states with "the largest interest in international
seaborne trade", alongside Australia, Brazil, Canada, France, Germany, the Netherlands, Spain,
Sweden, and the United Arab Emirates (UAE).
• India has been elected in the category of ten countries with the largest interest in international
seaborne trade.
• The term of the Council will be for the biennium 2024-25.
• India’s re-election shows the government’s commitment to enhance India's diverse
About IMO
• IMO is a specialised agency of the United Nations responsible for regulating shipping.
• It was established following agreement at a UN conference held in Geneva in 1948 and came into
existence 10 years later, meeting for the first time in 1958.
• Headquartered in London, United Kingdom, IMO currently has 175 Member States and three
Associate Members.
• India joined the IMO in 1959 and the IMO currently lists India as among the 10 states with the
largest interest in international seaborne trade.
India joins Executive Committee of Codex Alimentarius Commission
• India has been unanimously elected as a member representing Asian region in the Executive
Committee of Codex Alimentarius Commission (CAC)
• during its 46th meeting being held at FAO Headquarters at Rome.
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• Codex Alimentarius Commission (CAC), is the food safety and quality standard-setting body
created by the UN.
• executive Committee is an important arm of the CAC and the member countries have a
considerable interest in getting its membership.
India will be the largest cotton producer
• According to the Union Minister for Textiles Commerce and Industry, India will strive to become the
largest cotton producer globally.
• He was inaugurating an annual global meeting - the 81st plenary session of the International
Cotton Advisory Committee (ICAC) - a UN recognised body of cotton producing and consuming
nations.
• Cotton is one of the most important commercial crops cultivated in India and accounts for around
25% of the total global cotton production.
• India has the largest area under cotton cultivation and is the second largest producer (after China).
'India Internet Governance Forum 2023' to discuss public policy issues related to Internet in New Delhi
• 'India Internet Governance Forum 2023' will be held in New Delhi.
• The forum is a multi-stakeholder platform bringing together representatives from various groups to
discuss public policy issues related to the Internet.
• The theme of the event is Moving Forward - Calibrating Bharat’s Digital Agenda.
• Electronic and IT Ministry stated, the event is an effort to discuss issues such as building a secure,
trusted and resilient cyberspace for Bharat, Enabling Innovation for India’s Developmental Goals,
Bridging Divides and Calibrating Bharat’s Digital Agenda.
• The India Internet Governance Forum is an initiative associated with the UN Internet Governance
Forum.
South Central Railway commissions electrification of 64 Km line between Devarkadra-Krishna in
ongoing Munirabad-Mahabubnagar new railway line project
• South Central Railway has completed electrification of the existing rail network in Telangana region
except for the newly laid rail lines.
• In the next step, as part of electrification of newly constructed lines, 64 route Kms between
Devarkadra – Krishna has been electrified on mission mode.
• The New Broad Gauge line between Krishna – Devarkadra has been completed and recently
commissioned as part of Mahabubnagar – Munirabad new line project.
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• The DEMU passenger train services were also commissioned in this new section recently in
October, 2023.
Indian Navy ranks to be renamed as per Indian culture: PM Modi during Navy Day celebrations
• While congratulating the Indian Navy for appointing India's first woman commanding officer of the
naval ship, Prime Minister Narendra Modi pushed for a culture rejig in the ranks of Indian Navy.
• PM Modi announced that the ranks of the Navy personnel and officers will be renamed as per the
Indian culture.
• During his Navy Day address, PM Modi revealed the plans of the Indian government, which is
working to increase women's power in our defence forces.
• PM Modi mentioned the role played by great Indian legend Chhatrapati Shivaji Maharaj and
emphasized the importance of naval power.
• The Indian Navy observes Navy Day on 4 December in remembrance of the daring "Operation
Trident," a significant naval assault on Karachi harbour carried out during the 1971 War.
India emerges as a major contributor to the organic and natural products market globally
• India has emerged as a major contributor to the organic and natural products market globally and
its share in the market was 17 thousand 8 hundred 53 crore Rupees in the last three years.
• In a written reply in Lok Sabha, Union Minister for Agriculture and Farmer Welfare Narendra Singh
Tomar stated that as per the report of the World of Organic Agriculture Statistics and Emerging
Trends 2023, the demand for organic products has increased throughout the world from 21 Billion
US Dollars in 2001 to 135.50 Billion US Dollars in 2021.
• The major organic products exported from the country during the last three years include Cereals,
millet, Processed Food, Tea, Spices, Condiments, Dry Fruits, Sugar, Medicinal plant products,
Pulses, Coffee, Oil seeds.
Ministry of railways launched Amrit Bharat Station scheme for the development of stations
• The Ministry of Railways has launched the Amrit Bharat Station Scheme for the development of
stations on Indian Railways.
• So far, 1309 Stations as appended have been identified for development under this scheme.
• Modernisation/upgradation of railway stations is a continuous and ongoing process.
• The Ministry of Railways also envisages exploration of various models for the development and/or
maintenance of railway stations including Engineering, Procurement and Construction (EPC), non-
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EPC modes etc. and a minuscule number of stations under Public Private Partnership (PPP)
mode.
India to host four-day 27th WAIPA World Investment Conference in New Delhi
• India will host four-day 27th WAIPA World Investment Conference in New Delhi.
• National Investment Promotion and Facilitation Agency of the Government of India, and World
Association of Investment Promotion Agencies are organizing the conference at the India
International Convention & Expo Centre - Yashobhoomi, New Delhi.
• Under the aegis of the Department for Promotion of Industry and Internal Trade, it will be the
largest World Investment Conference ever.
Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and
Textiles, Piyush Goyal will deliver the keynote address on the Role of Trade and Investment in the
Decade of Action.
India to spend 57 lakh crore rupees on adaptation to climate change over next 7 years
• India spent about Rs 13.35 lakh crore in 2021-22, just over 5.5% of its GDP, on climate adaptation
and expects to incur another about Rs 57 lakh crore over the next seven years for this purpose.
• But this is only in the business-as-usual scenario, that is only if climate vulnerability does not
deteriorate during this period.
• Climate-induced damage could escalate this amount by another Rs 15.5 lakh crore.
• The Central government informed the UN Framework for Climate Change Convention (UNFCCC),
recently.
• The UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting
the global response to the threat of climate change.
PM Formalization of Micro Food Processing Enterprises Scheme
• PM Formalisation of Micro food processing Enterprises (PMFME) Scheme is a centrally sponsored
scheme launched in 2020.
• The scheme is operational for a period of five years from 2020-21 to 2024-25 with an outlay of Rs.
10,000 Crore for supporting 2 lakh micro food processing enterprises.
• Funding: 90:10 ratios with Northeastern and Himalayan States.
• 60:40 ratios with UTs with legislature, and 100% by Centre for other UTs.
• 60:40 ratios between Central and State Governments for other states.
Jammu Student-Led National Movement for Energy Conservation named 4E Wave Launched
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• 4E Wave has been launched by Union Minister for Power and New & Renewable Energy Shri R.
K. Singh.
• It is a student-led National Movement for Energy Conservation.
• It was launched in the presence of Lieutenant Governor of Jammu & Kashmir Shri Manoj Sinha.
• The movement aims to raise awareness of energy conservation among communities and
individuals, as well as to encourage sustainable activities.
• 4E Wave comprises four essential components.
NMCG Launches Global River Cities Alliance at the United Nations Climate Change Conference in
Dubai
• The Global River Cities Alliance (GRCA) was launched at COP28, the United Nations Climate
Change Conference in Dubai, UAE.
• The National Mission for Clean Ganga (NMCG) led the alliance under the
Ministry of Jal Shakti, Government of India.
• The alliance includes countries such as Egypt, Netherlands, Denmark, Ghana, Australia, Bhutan,
Cambodia, Japan, and river-cities of The Hague (Den Haag) from the Netherlands, Adelaide from
Australia, and Szolnok of Hungary.
• International funding agencies like the World Bank, Asian Development Bank (ADB), Asian
Infrastructure Investment Bank (AIIB), and knowledge management institutions like KPMG have
entered into a partnership to expand the reach of the existing River Cities Alliance (RCA), which
was formed by NMCG in association with the National Institute of Urban Affairs (NIUA) in 2021.
India Joins Consortium to Advance Deployment Of Battery Energy Storage Systems
• India became a member of the Battery Energy Storage Systems (BESS) Consortium, an initiative
led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet
(GEAPP).
• As a part of this collaborative effort, India stands among the pioneering nations committed to
securing 5 Gw of BESS commitments by the conclusion of 2024.
• In September, the government endorsed viability gap funding for BESS development.
• The scheme aims to facilitate establishing 4,000 Mwh of BESS projects by 2030-31, providing
financial assistance of up to 40 per cent of the capital cost through budgetary support in the form of
VGF.
517 UDAN Routes Operate Across 76 Airports; INR 1000 Cr Allocated for Further Development
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• Under the government’s flagship regional connectivity scheme UDAN (Ude Desh Ka Aam Nagrik),
517 RCS routes have so far commenced operations connecting 76 airports, including nine
Heliports & two water aerodromes.
• The UDAN scheme aims at fostering regional air connectivity at affordable rates and has been
designed to facilitate air operations on underserved and unserved routes.
• Airlines participating in the UDAN scheme are required to allocate a specified number of seats as
RCS seats, varying based on the type and size of the aircraft deployed for RCS flights.
• Selected Airline Operators also receive financial support in the form of Viability Gap Funding
(VGF).
India's emission intensity reduced by 33% between 2005 and 2019
• According to a government report, India reduced its GDP emission intensity by 33 per cent
between 2005 and 2019, achieving the target 11 years in advance,
• India's GDP grew at a cumulative annual growth rate of 7 per cent but its emissions rose by only 4
per cent per year during this period, suggesting that the country has been successful in decoupling
its economic growth from planet-warming greenhouse gas emissions.
• The report called 'The Third National Communication to the United Nations Framework Convention
on Climate Change' will be submitted to the UN climate change body during the ongoing climate
talks in Dubai.
IRCON International shares tank over 8% as govt launches OFS to sell up to 8% stake
• The Union government has proposed to sell 8% stake in IRCON International through an offer for
sale (OFS).
• The government will offload about 3.76 crore shares, which represents a 4% stake through the
OFS, and in the case of oversubscription, an additional 4% stake will be under sale.
• The offer for sale will take place on December 8 through a separate window on the stock
exchanges.
• As of September-end, the government holds 73.18% stake in the company.
About IRCON
• IRCON International Limited is a Central public sector enterprise under the Railway Ministry.
• It was set up to utilise the Indian Railway’s experience in helping developing nations of the world to
install or maintain their own railways and also to execute railway projects for the private sector.
Union Minister Nirmala Sitharaman inaugurates ‘Krishnaveni Sangeetha Neerajanam’ in Vijayawada
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• Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman inaugurated
Krishnaveni Sangeetha Neerajanam, at Tummalapalli
-Kalakshetram, Vijayawada in the presence of Smt R K Roja, Minister for Tourism, Government of
Andhra Pradesh, Shri Buggana Rajendranath, Minister for Finance, Government of Andhra
PradeshSmt V Vidyavathi, Secretary, Ministry of Tourism, Government of India.
• Secretary, Ministry of Tourism, Government of India in her welcome address remarked that the
event endeavours to commemorate the contributions of the Telugu language in promoting classical
music and emphasized that the festival aims to establish a cultural identity for the region by
showcasing the local traditions and promoting local artisans, crafts and cuisine.
India to host 27th WAIPA World Investment Conference in New Delhi
• Invest India, the National Investment Promotion and Facilitation Agency of the Government of
India, and the current President of the World Association of Investment Promotion Agencies
(WAIPA), under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT),
is set to host the 27th World Investment Conference (WIC) from December, at the India
International Convention & Expo Centre - Yashobhoomi, New Delhi.
• This year’s conference is themed "Empowering Investors: IPAs Pioneering Future Growth".
• Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and
Textiles, Shri Piyush Goyal on the main day of the conference, will deliver the keynote address on
the Role of Trade and Investment in the Decade of Action.
About WAIPA
• The World Association of Investment Promotion Agencies was created in 1995 in Geneva, as a
non-governmental organization. Its mission is to empower and support investment promotion
agencies in the important work they do to develop their economies; to be a voice for IPAs
internationally; and to serve as a bridge between the public and private sectors. The association
has more than 120 member agencies representing more than 100 countries.
DARPG launches Scheme and Web-portal for National Awards for e-Governance 2024
• The Web portal (http://www.nceg.gov.in) for National Awards for e-Governance (NAeG) 2024 was
launched.
• The formal launching was organised by the Department of Administrative Reforms & Public
Grievances (DARPG).
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• The Central Ministries / Departments as well as the Principal Secretaries (AR) and (IT) and the
DCs/DMs of all the 28 States and 8 UTs of India as well as Award Winners of NAeG 2023 were
invited for the launch ceremony in hybrid mode.
• The web portal for National Awards for e-Governance 2024 has been made live on 8th December,
2023.
• The advertisement in this regard has also appeared in newspapers on 2nd December, 2023 and
the last date for submission of nominations is 29th December, 2023.
• The portal, namely, www.nceg.gov.in for due registration and the submission of applications for
the NAeG, 2024 will also be operational from 8th December 2023 to 29th December, 2023.
Ministry of Textiles to host ‘One Bharat Sari Walkathon’ in Mumbai
• The Ministry of Textiles will organize the country's largest ever ‘One Bharat Sari Walkathon’ in
India's financial capital, Mumbai.
• The event aims to promote the handloom sari culture in India by inviting participation of women
across the country to showcase their ways of wearing saris and thus present India as a country of
“Unity in Diversity”.
• It will also promote the spirit of traditional textile & support the idea of “Vocal for Local” and will
raise awareness about fitness among women and to encourage them lead healthier lives.
• Previously, the Sari Walkathon was organized in Surat.
PM inaugurates ‘Uttarakhand Global Investors Summit 2023’
• The Prime Minister, Shri Narendra Modi inaugurated ‘Uttarakhand Global Investors Summit 2023’
being held at Forest Research Institute, Dehradun, Uttarakhand.
• Shri Modi also took a walkthrough of the exhibition and unveiled the Ground Breaking Wall.
• Prime Minister Modi also launched a book Sashakt Uttarakhand and the brand House of
Himalayas.
• The theme of the Summit is ‘Peace to Prosperity’.
• Industry leaders also expressed their views on the occasion.
Raksha Mantri Shri Rajnath Singh inaugurates 10-feet tall statue of Mahatma Gandhi, Delhi
• Raksha Mantri Shri Rajnath Singh inaugurated a 10-feet tall statue of Mahatma Gandhi at Gandhi
Darshan near Rajghat, Delhi. Raksha Mantri described the statue as a befitting tribute to the
Father of the Nation, who played a central role in freeing India from foreign rule and worked for the
upliftment of the weaker sections of society to lead a dignified life.
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• Shri Rajnath Singh emphasised that the Government’s focus has always been on planned
progress, which has resulted in India becoming the 5th largest economy in the world.
IREDA Launches Retail Division: Targets PM-KUSUM, Rooftop Solar and other B2C Segments
• Indian Renewable Energy Development Agency Limited (IREDA) has launched its retail division,
geared towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme,
Rooftop Solar, and other Business-to-Consumer (B2C) sectors.
• The strategic division became operational on 5th December, 2023.
• This announcement has been made by Chairman & Managing Director of IREDA Shri
Pradip Kumar Das during the Leaders’ Dialogue on "Actioning Solutions for Global Sustainable
Development and Governance of Resources" organized by CEEW & CII as part of COP28 in
Dubai on 7th December 2023.
About IREDA
• Indian Renewable Energy Development Agency Limited is formed in 1987 as a Mini Ratna
Government of India Enterprise under Government of India and administratively controlled by the
Ministry of New and Renewable Energy.
“HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-friendly
ecosystem at all Major Ports
• The Ministry of Ports, Shipping and Waterways, Shri Sarbananda Sonowal has launched
“HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-
friendly ecosystem at all Major Ports.
• Under these guidelines, various green interventions such as ship-to-shore power supply,
electrification of Port equipment, usage of alternate fuels such as green Hydrogen/Green
Ammonia/Methanol in port crafts, creation of infrastructure at select Ports for storage, bunkering,
and refuelling of Green hydrogen/Green Ammonia, increase share of Renewable Energy etc. have
been provided.
• Deendayal Port, Visakhapatnam Port and New Mangalore Port are generating surplus renewable
energy.
• The management and notification of berth/jetty in Major Ports for chemicals and dangerous
materials are being carried out as per the Port Regulation framed in the ambit of the Explosive Act,
1884.
Ministry of Tourism kicks off Amrit Dharohar Capacity Building Scheme 2023 in collaboration with
Ministry of Environment, Forest & Climate Change
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• The Ministry of Tourism (MoT) in collaboration with Ministry of Environment, Forest & Climate
Change (MoEFCC) launched an Alternative Livelihood Programme under the Amrit Dharohar
Capacity Building Scheme in Sultanpur National Park, a Ramsar Site in Haryana.
• Under this initiative, IITTM, an autonomous body under MoT, in collaboration with MoEFCC will
build the capacity of local community members around different Ramsar sites in order to
strengthen nature tourism at these sites and provide alternative livelihood to the local community.
• Sultanpur is one of the five priority Ramsar Sites besides Bhitarkanika and Chilika in Odisha and
Yashwant Sagar and Sirpur in Madhya Pradesh identified in first phase by MoT and MoEFCC for
taking up training programmes for local communities under the Alternative Livelihood Programme
(ALP).
Youth for Unnati and Vikas with AI (YUVAi) to feature in GPAI Summit 2023
• Youth for Unnati and Vikas with AI’ (YUVAI) is set to be prominently featured at the upcoming
Global Partnership on Artificial Intelligence (GPAI) Summit.
• ‘Youth for Growth and Vikas with AI’ is a collaboration-based initiative of the National e-
Governance Division (NeGD), Ministry of Electronics and Information Technology, Government of
India, and Intel India.
• The GPAI summit is beginning on 12 December in New Delhi.
• This program is designed to equip youth with essential AI skills.
• The program is drawing attention to its innovative approach and commitment aimed at
enabling a future-ready workforce.
• Youth for Unnati and Vikas with AI aims to promote a deeper understanding of AI.
Union Minister Shri Arjun Munda inaugurates ASEAN-India Millet Festival today at New Delhi
● Union Minister of Agriculture and Farmers’ Welfare and Tribal Affairs Shri Arjun Munda inaugurated
ASEAN-India Millet Festival today at New Delhi.
● Ministers of States for Agriculture and Farmers’ Welfare Shri Kailash Choudhary and Sushri Shobha
Karandlaje and Secretary, Department of Agriculture and Farmers’ Welfare, Shri Manoj Ahuja were
also present on the occasion.
● In line with the International Year of Millets, the festival aims to increase awareness and establish a
larger market for millet and millet-based products.
● The festival will conclude on 15th December 2023.
● The event followed a preceding festival held in Jakarta, Indonesia from 22-26 November 2023.
● On day two of the festival, a Business-to-Business (B2B) meeting is organized by APEDA.
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● Under the visionary leadership of Prime Minister Shri Narendra Modi, the Government of India has
played an important role in organizing the mega event of International Millets Year 2023.
Union Health Minister Dr Mansukh Mandaviya inaugurates new State-of-the-Art facilities at ICMR-NIMR
● Dr. Mansukh Mandaviya, Union Minister of Health and Family Welfare while inaugurating five new
facilities at the Indian Council of Medical Research - National Institute of Malaria Research (ICMR-
NIMR).
● The facilities included a Test Research Laboratory, an Innovation Complex, a Conference Hall
Complex and a 300-seat Auditorium.
● He was joined by Prof. S.P. Singh Baghel and Dr. Bharati Pravin Pawar, Union Ministers of State for
Health and Family Welfare.
● The Union Health Minister highlighted the century-long journey of ICMR and its role in shaping
India's medical research landscape.
● Strengthening the institute’s infrastructure is a step towards moving to malaria elimination in the
country by 2030.
Indian Forest & Wood Certification Scheme launched to promote Sustainable Management of forests
and agroforestry
● The Ministry of Environment, Forests and Climate Change has launched the Indian Forest & Wood
Certification Scheme.
● This national forest certification scheme offers voluntary third-party certification designed to promote
sustainable forest management and agroforestry in the country.
● The scheme includes forest management certification, tree outside forest management certification,
and chain of custody certification.
● The Forest Management certification is based on the Indian Forest Management Standard,
consisting of 8 criteria, 69 indicators and 254 verifiers, which is an integral part of the National
Working Plan Code 2023, launched earlier this year.
● Indian Institute of Forest Management, Bhopal will act as the scheme operating agency and will be
responsible for the overall management of the scheme.
Rajya Sabha Passes Bill On Appointment Of Chief Election Commissioner and Election Commissioners
● The Rajya Sabha has passed a Bill to regulate the appointment of the Election Commission of India.
● The bill retained the status of the CEC and two ECs on par with judges of the Supreme Court.
● The earlier Bill sought to downgrade their service conditions, aligning them with those of a Cabinet
Secretary.
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● The Election Commission is a permanent and independent body by Article 324 of the Constitution of
India.
● The Chief Election Commissioner and other Election Commissioners (Appointment, Conditions of
Service and Term of Office) Bill, 2023, was passed in the Upper House of Parliament with a voice
vote.
● The bill seeks to replace the Chief Justice of India with a Cabinet Minister nominated by the Prime
Minister in the committee for selection of the CECs and ECs.
● First, a Search Committee, headed by the Law Minister, would propose a panel of names to the
selection committee.
● The Selection committee will be chaired by the PM and will include the Leader of the Opposition or
leader of the single largest Opposition party in Lok Sabha and a Cabinet Minister nominated by the
Prime Minister.
● The terms of the CEC and ECs remain unchanged, at six years or until they reach the age of 65
years, whichever is earlier.
India’s first Six Lane Steel Slag based Road Connecting NH-6 to Hazira Port has been constructed
● India’s first Six six-lane steel slag-based Road Connecting NH-6 to Hazira Port has been
constructed.
● Steel Slag is produced as a solid waste during steel production.
● Around 180 - 200 kg of steel slag is generated per tonne of steel production.
● The Ministry of Steel has funded a R&D project on “Development of Design Guidelines and
Specifications for utilization of Steel Slag in road construction”.
The 29th Kolkata International Film Festival: Israeli film 'Children of Nobody' won the Best film award
● The 29th Kolkata International Film Festival ended.
● Israeli film 'Children of Nobody' won the Best Film Award under International Competition in
Innovation Moving Images.
● It is directed by Erez Tadmor.
● Director duo Sharmistha Maity and Rajdeep Paul's 'Mon Potongo' won the award for the best film
under the Bengali Panorama category.
● In addition to these, Hiralal Memorial Trophy, and Netpack Award were also given.
● 29th Kolkata International Film Festival was organized by the Information and Cultural Affairs
Department, Government of West Bengal.
● It was held from 5 - 12 December 2023 in Kolkata.
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Cabinet approves Memorandum of Understanding (MoU) signed between India and Tanzania on
Cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for
Digital Transformations:
● The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a MoU
signed between the Ministry of Electronics and Information Technology of the Republic of India
and the Ministry of Information, Communication and Information Technology of the United
Republic of Tanzania on cooperation in the field of sharing successful Digital Solutions
implemented at Population Scale for Digital Transformation.
● The MoU intends to promote closer cooperation and exchange of experiences, digital
technologies-based solutions in the implementation of digital transformational initiatives of both
the countries.
● Both G2G and B2B bilateral Cooperation in the field of Digital Public Infrastructure (DPI) will be
enhanced.
● The activities contemplated in this MoU would be financed through their administration's regular
operating allocations.
Union Cabinet approves the memorandum of understanding between the United States of America and
the Republic of India
● The Union Cabinet chaired by Hon’ble Prime Minister, Shri Narendra Modi, approved the draft
Memorandum of Understanding (MoU) between the United States of America and the Republic of
India to enhance innovation ecosystems through an innovation handshake.
● The 5th India-U.S. Commercial Dialogue was held on 10th March 2023 during the visit of U.S.
Secretary of Commerce Gina Raimondo between 8-10 March.
● At the meeting the Commercial Dialogue was re-launched with strategic focus on supply chain
resiliency, climate and clean technology cooperation, advancing inclusive digital economy, and
facilitating post-pandemic economic recovery especially for SMEs and start-ups.
● The Joint Statement released by President Biden and Prime Minister Modi in June 2023 welcomed
focused efforts to establish an “Innovation Handshake” that shall connect the two sides’ dynamic
startup ecosystems, address specific regulatory hurdles to cooperation, and promote innovation and
job growth, particularly in critical and emerging technologies (CET).
● The scope of cooperation would include a series of India- U.S. Innovation Handshake events, round
tables with private sector, including hackathon and “Open Innovation” programs, information sharing
and other activities.
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Cabinet approves Memorandum of Cooperation signed between India and Kingdom of Saudi Arabia on
cooperation in the field of Digitization and Electronic Manufacturing
● The Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a Memorandum
of Cooperation (MoC) signed between the Ministry of Electronics and Information Technology of the
Republic of India and the Ministry of Communications and information Technology of the kingdom of
Saudi Arabia on cooperation in the field of Digitization and Electronic Manufacturing.
● The Memorandum of Cooperation intends to strengthen collaboration in the field of Digitization,
Electronic Manufacturing, e-Governance, smart infrastructure, e-Health and e-Education, promote
partnership in research in digital innovation and the use of emerging technologies such as Artificial
Intelligence (AI), Internet of Things (IoT), Robots, Cloud Computing and Blockchain, etc.
● The MoC aims to promote ways of innovative training and development through e-teaching, e-
learning and exchange programs in digitization and electronics manufacturing.
Cabinet approves Memorandum of Understanding between India and Italy on Cooperation in the field of
Industrial Property Rights
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval for
signing of Memorandum of Understanding between the Department for Promotion of Industry and
Internal Trade, Ministry of Commerce & Industry of the Republic of India and the Directorate General
for the Protection of Industrial Property-Italian Patent and Trademark Office of the Ministry of
Enterprises and Made in Italy of the Italian Republic on Cooperation in the field of Industrial Property
Rights.
Cabinet approves declaration of Surat Airport as an International Airport
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to
declare Surat Airport as an International Airport.
● Surat Airport will not only become a gateway for international travellers but also facilitates seamless
export-import operations for the thriving diamond and textile - industries.
● Elevating Surat Airport to international status is paramount for enhancing economic growth,
attracting foreign investment, and bolstering diplomatic ties.
Prime Minister Shri Narendra Modi to inaugurate Kashi Tamil Sangamam 2023
● The second phase of Kashi Tamil Sangamam will be inaugurated by Prime Minister Shri Narendra
Modi at the Namo Ghat, Varanasi, UP
● The first batch of Tamil delegation comprising a group of students from various parts of Tamil Nadu
named after the sacred river ‘Ganga’ reached the holy city of Kashi (Varanasi) to attend the 15-day-
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long second phase of Kashi Tamil Sangamam.

● They were received with a grand welcome upon arrival at the Varanasi Cantt. Railway Station.
● During their stay, they will also visit Prayagraj and Ayodhya.
● Six more groups comprising Teachers (Yamuna), Professionals (Godavari), Spiritual (Saraswati),
Farmers and Artisans (Narmada), Writers (Sindhu) and Traders and Businessmen (Kaveri) will be
reaching Kashi to participate in the Sangamam during the event.
Unnati Foundation : First Entity To List On The Social Stock Exchanges
● Unnati Foundation became the first entity to list on the social stock exchanges (SSE).
● SUF is a not-for-profit organisation (NPO) incorporated in 2011 that has trained over 45,000 youth.
● The entity had raised ₹1.8 crore from Zerodha, Nabard, Govind Iyer, and Ashish Kacholia during its
fundraising period between October 30 and November 22.
● On listing, the Zero Coupon Zero Principal (ZCZP) instruments with a face value of ₹1 each will get
credited into the demat accounts of the respective donors.
● The SEBI board recently approved halving the minimum size of ZCZPs by NPOs on SSEs to Rs 50
lakh from Rs 1 crore.
● The minimum application size will be reduced to ₹10,000 from ₹2 lakh to enable wider participation.
Prime Minister Narendra Modi inaugurates Diamond Bourse & New Integrated Terminal Building of
Surat Airport
● In Gujarat, Prime Minister Narendra Modi has dedicated the newly Built Diamond Bourse, the
World’s largest corporate office hub in Surat.
● It will emerge as a global centre for trading rough and polished diamonds and jewellery.
● The newly built Diamond Bourse will be the World’s largest and most modern centre for international
diamond and jewellery business.
● Earlier, Prime Minister inaugurated the New Integrated Terminal Building of Surat Airport.
● The new terminal building is equipped to handle 1,200 domestic passengers and 600 international
passengers during peak hours with annual handling capacity increasing to 55 lakh passengers.
● Prime Minister Narendra Modi will also inaugurate the second edition of Kashi Tamil Sangamam
2023 at Namo Ghat in Varanasi.
● He will be on a two-day visit to his parliamentary constituency.
Amrit Technology For Removal Of Arsenic And Metal Ions From Water
● IIT Madras developed ‘AMRIT’ for removing Arsenic and Metal ions from water.
● ‘AMRIT’ (Arsenic and Metal Removal by Indian Technology) uses nano-scale iron oxy-hydroxide. It
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removes arsenic when water is passed through it.

● This water purifier technology has been developed for both domestic as well as community levels.
● This technology has been recommended by the ‘Standing Committee’ of the Department of Drinking
Water and Sanitation for the examination of the best technologies related to water and sanitation.
● Government launched the Jal Jeevan Mission (JJM) for the planning, approval, implementation,
operation, and maintenance of drinking water supply schemes.
The Barracuda: India’s fastest solar-electric boat sets sail for sustainable future
● In a move towards eco-friendly maritime transportation, the Barracuda, India’s fastest solar-electric
boat, was ceremoniously launched at the Navgathi Panavally Yard in Alappuzha.
● This cutting-edge vessel was jointly developed by Mazagon Dock Shipbuilders and Navalt.
● The Barracuda, named after the swift long fish, is designed by the Navy for workboat purposes.
● With a top speed of 12 knots and a range of 7 hours on a single charge, the 14-metre long and 4.4-
metre wide vessel harnesses twin 50 kW electric motors, a marine-grade LFP battery, and 6 kW
solar power.
CCI approves scheme of arrangement involving Dhani Services Limited, Indiabulls Enterprises Limited,
Savren Medicare Limited
● The Competition Commission of India (CCI) has approved the scheme of arrangement involving
Dhani Services Limited, Indiabulls Enterprises Limited, Savren Medicare Limited, Auxesia Soft
Solutions Limited, Gyansagar Buildtech Limited, Pushpanjli Finsolutions Limited, Devata Tradelink
Limited, Evinos Developers Limited, Milky Way Buildcon Limited, Indiabulls Consumer Products
Limited, Indiabulls Infra Resources Limited, Jwala Technology Systems Private Limited, Mabon
Properties Limited, YDI Consumer India Limited, Indiabulls General Insurance Limited, Indiabulls
Life Insurance Company Limited, Juventus Estate Limited, India Land Hotels Mumbai Private
Limited, Indiabulls Pharmcare Limited, and Yaari Digital Integrated Services Limited.
NTPC Group achieves its fastest-ever 300 Billion Units Electricity Generation
● NTPC Group has achieved the fastest ever 300 Billion Units (BU) electricity generation.
● This milestone was achieved in just 262 days in FY 2023-24, which is 18 days early compared to the
last financial year.
● In FY 2022-23, the company had crossed 300 BU generation on 5th January 2023.
● On a standalone basis, 256 BU generation has been recorded from NTPC stations in FY 2023-24.
● This accomplishment reinforces NTPC's commitment to delivering reliable and affordable power to
the Nation.
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● While NTPC has an installed capacity of approximately 74 GW, over 18 GW capacity including 5
GW Renewables is under construction.
● The company is committed to achieve 60 GW of Renewable Energy capacity by the year 2032.
About NTPC :
● NTPC Ltd. is India's largest integrated power utility, contributing 1/4th of the power requirement of
the country. With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is
dedicated to delivering reliable, affordable, and sustainable electricity to the Nation.
● The company is committed to adopting best practices, fostering innovation, and embracing clean
energy technologies for a greener future.
CCI approves certain business undertakings of Ind Swift Laboratories Limited and Essix Biosciences
Limited by Synthimed Labs Private Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition of certain
business undertakings of Ind Swift Laboratories Limited and Essix Biosciences Limited by
Synthimed Labs Private Limited.
● The Proposed Combination involves slump sale of certain business undertakings (on a going
concern basis) of Ind Swift Laboratories Limited (ISLL) and Essix Biosciences Limited (Essix)
(collectively, “Target Business”) to Synthimed Labs Private Limited (Synthimed).
● Subsequently, ISLL will acquire a minority shareholding in the Acquirer.
Pradhan Mantri Bhartiya Janaushadhi Pariyojana achieved their target of Rs. 1000 Crore in sales in FY
2023-24
● Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has created another landmark in the
history of generic medicines in the country by selling medicines worth Rs. 1000 Crore this year.
● This achievement was made possible only by the people of the country, who have saved
approximately 5000 crores by purchasing medicines from Jan Aushadhi Kendras which is present in
more than 785 districts of the country.
● Hon’ble Prime Minister in his Independence Day speech, 2023 has announced the opening of
25,000 Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) across the country.
● The Prime Minister virtually launched the 10,000th Janaushadhi Kendra at AIIMS, Deoghar,
Jharkhand on 30th November, 2023 and further paved the way for expanding the number of Kendras
to 25,000 for wider outreach and easy accessibility of medicines to the people of the country.
● Accordingly, the Government has set a target to open 25,000 Janaushadhi Kendras across the
country by March, 2026.
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● Online applications have been called for opening of new Janaushadhi Kendras across all districts of
the nation through the official website of PMBI, i.e.; - www.janaushadhi.gov.in and for any further
communication, anyone may contact through the national toll-free number i.e.; 1800 180 8080.
Honourable Union Minister Kiren Rijiju launches India’s maiden winter scientific Arctic expedition
● Union Minister Kiren Rijiju flagged off India's first-ever winter science expedition to the Arctic region.
● India's first-ever winter science expedition to the Arctic region has been flagged off by the Earth
Sciences Minister Kiren Rijiju.
● Indian scientific expeditions to the Arctic during the winter (November to March) will allow
researchers to conduct unique scientific observations during polar nights, where there is no sunlight
for nearly 24 hours and sub-zero temperatures (as low as -15 degrees Celsius).
● A team of four scientists started the journey to India's research station in the NyAlesund town on the
Brogger peninsula.
● Athulya R, Girish B S, Prashant Rawat, and Surendra Singh are the members of this team.
● The first batch of the maiden Arctic winter expedition comprises researchers from the host NCPOR,
Indian Institute of Technology (IIT) Mandi; Indian Institute of Tropical Meteorology (IITM), Pune; and
Raman Research Institute, Bengaluru.
India’s coal demand to grow at 3.5% annually till 2026: IEA

• India’s coal demand is expected to increase by 3.5% annually till 2026, according to the International
Energy Agency (IEA).
• In its latest coal report, IEA estimates India’s coal demand to rise to 1,397 million tonnes (mt).
• Coal demand in India accounted for 14% of the global demand.
• It is expected that the demand have increased by 8% or 98 mt in 2023.
• IEA forecasts 2.4% annual growth in coal consumption for power generation for the next three years.
• IEA said renewable energy generation is forecast to grow by 12% annually.
• IEA estimates a moderate increase in coal for power generation of 69 mt to 2026.
• IEA estimates non-power thermal coal and lignite consumption to have increased by 12 mt in 2023,
to 243 mt.
• India is the world’s second largest consumer of the coal.
Union Home Minister Amit Shah introduces redrafted criminal Bills in Lok Sabha
• Union Home Minister Amit Shah introduced redrafted criminal Bills.
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• Union Home Minister Amit Shah presented three redrafted Bills in the Lok Sabha to replace the
existing British-era criminal laws.
• The new bills incorporate the changes recommended by a parliamentary committee.
• The Bharatiya Nyaya (Second) Sanhita Bill (BNSS), 2023 will take the place of the Indian Penal
Code of 1860.
• The “economic security” and “damage or destruction of any property in India or in a foreign country
used or intended to be used for the defense of India” have been included in the definition of terrorist.
• The Bharatiya Sakshya (Second) Bill, 2023 and the Bharatiya Nagarik Suraksha (Second) Sanhita
Bill, 2023 will also replace the Indian Evidence Act, 1872 and the Code of Criminal Procedure, 1898,
respectively
France President Emmanuel Macron to be Chief Guest for 75th Republic Day celebrations
● President of France Emmanuel Macron will be the Chief Guest for the 75th Republic Day
celebrations.
● External Affairs Ministry, at the invitation of Prime Minister Narendra Modi, the President of France
will visit India for the Republic Day celebrations.
● India and France share a high degree of convergence on a range of regional and global issues.
● This year, both countries are celebrating the 25th anniversary of the India-France Strategic
Partnership.
● Prime Minister Modi was the Guest of Honour at the Bastille Day Parade held on 14 July 2023 in
Paris.
Govt allows extra borrowing ceiling of over Rs 60,000 crore to states for NPS
● Government allowed additional borrowing of Rs 60,000 crore to 22 states for the National Pension
Scheme.
● The Department of Expenditure approved an extra borrowing of Rs 60,876.8 crore to 22 States in
2023-24 for the National Pension Scheme.
● 3 per cent of the Gross State Domestic Product (GSDP) or Rs 8,59,988 crore in absolute terms was
fixed as the normal net borrowing ceiling for states in FY24.
● The central government has earlier approved additional financial incentives worth Rs 66,413 crore to
12 states for reforms in the power sector.
● Additional borrowing of Rs 39,175 crore was allowed to 12 states in 2021-22 and Rs 27,238 crore to
6 States in 2022-23.
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● States have the facility of tapping Rs 1.3 lakh crore 50-year interest-free capex loans facility for
FY24.Capital expenditure of Rs 91,471.43 crore has been approved for 25 states.
Govt gives Rs 5,228 crore subsidy to incentivize 11.53 lakh EVs in 2023
• The government has given 5,228 crore rupees subsidy to incentivise 11.53 lakh Electric Vehicles in
the country in 2023.
• The government has also sanctioned 800 crore rupees to PSU Oil marketing companies for setting
up seven thousand 432 public fast-charging stations across the country.
• Ministry of Heavy Industries said that a total of 148 Electronic Vehicles Public Charging Stations are
currently working in the country.
• The Ministry said that it is implementing Phase II of the Faster Adoption and Manufacturing Electric
Vehicles (FAME-II) scheme to reduce dependence on fossil fuels and address the issue of vehicular
emissions.
Home Minister Amit Shah inaugurates and lays foundation stone of several projects worth over Rs 3500
crore in Chandigarh
• Union Home Minister Amit Shah inaugurated 9 projects worth 368 crore rupees and laid the
foundation stone of three projects worth 3200 crore rupees in Chandigarh.
• He also flagged off the fleet of Chandigarh Police cars worth 3.75 crore rupees and a state-of-the-art
police control vehicle 'Eagle'.
• The Home Minister also handed over appointment letters to newly recruited 700 constables and 44
ASI in Chandigarh police today and congratulated them.
• Cyber Operation and Security Centre (CENCOPS) has also been inaugurated.
Centre releases ₹72,961 crore as tax devolution to States bl-premium-article-image
• The Centre has released ₹72,961 crore in the form of tax devolution to States.
• Out of the ₹72,961.21 crores installment disbursed, the largest share has gone to Uttar Pradesh.
• Uttar Pradesh is followed by Bihar at ₹7,338.44 crore, Madhya Pradesh at ₹5,727.44 crore and West
Bengal ₹5,488.88 crore.
• d (2026-27 to 2030-31).
• It would submit its report to the President by October 31, 2025.
ICAI unveils new CA India logo
• Vice-President of India, Jagdeep Dhankhar launched this new logo of the Institute of Chartered
Accountants of India (ICAI).
.
• The new logo has been unveiled at a recently held Global Professional Accountants Convention
(GloPAC), in Gandhinagar.
• It is made up of the letters ‘CA’ in blue with a tricolour tick mark (upside down) on a white
background.
• The blue colour denotes innovativeness, creativity, knowledge, trust, integrity, stability, truth, and
depth.
• The upside-down tick mark in tricolor has been included to symbolise the wisdom and value of the
professionals.
Union Minister Smriti Irani inaugurates National Programme on Anganwadi-cum-Crèches in New Delhi
• Union Minister Smriti Irani inaugurated the National Programme on Anganwadi-cum-Creches in New
Delhi.
• The government is planning to open 17 thousand creches all around the country.
• The objective of Anganwadi-cum-Creches is to provide quality Creche facilities in a safe and secure
environment for children aged between 6 months to 6 years.
• These crèches will provide nutritional support, health and cognitive development of children.
• It will also ensure immunization, education etc. of children’s.
• Palna, a sub-scheme under Mission Shakti, was launched in April 2022 to provide daycare facilities
and protection to children.
Union Minister Bhupender Yadav launches a NITI Aayog report, ‘A Green and Sustainable Growth
Agenda for the Global Economy
• Union Minister Bhupender Yadav launched a NITI Aayog report, ‘A Green and Sustainable Growth
Agenda for the Global Economy’.
• A report titled ‘A Green and Sustainable Growth Agenda for the Global Economy’ has been released
in the presence of Amitabh Kant, Sherpa, G20 India, and Suman Bery, Vice Chairman, NITI Aayog.
• NITI Aayog published this report in partnership with the International Development Research Centre
(IDRC) and the Global Development Network (GDN).
• This report has been released to enable the transfer of knowledge that came out of the G20
international conferences.
CBDT notifies ITR Forms ITR-1 and ITR-4 for AY 2024-25
.
• The Central Board of Direct Taxes (CBDT) has notified two new return forms, ITR-1 (SAHAJ) and
ITR-4 (SUGAM), for the Assessment Year 2024-25. These forms will come into effect from April 1,
2024.
• ITR-1 (SAHAJ) is to be used by individuals with total income up to Rs 50 lakh, having income from
salaries, one house property, other sources (like interest) and agricultural income up to Rs 5,000.
• On the other hand, ITR-4 (SUGAM) is applicable to individuals, HUFs and firms (other than LLPs)
with total income up to Rs 50 lakh and income from business and profession computed under
Sections 44AD, 44ADA or 44AE.
• July 31, 2024 is the last date to file ITR for FY 2023-24 (AY 2024-25), unless it gets extended.
• Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and
those having earnings from business and profession in the current fiscal (April 2023-March 2024)
can commence filing returns for the income earned this financial year.
Govt app to allow live tracking of cargo across land, rail, sea & air
• India will launch an app that will enable companies to track their live cargo across land, rail, sea, and
air.
• The app has garnered interest from over 700 companies acros s courier, logistics, shipping, and
manufacturing.
• These companies have signed up on the app which the government will launch soon.
• The National Industrial Corridor Development Corporation (NICDC) is reportedly developing this
app,
• NICDC will use specific tracking codes to track and trace the consignment.
• The initiative is part of India's plan to streamline logistics and reduce costs.
• India's logistics cost was 7.8-8.9% of the country's gross domestic product (GDP) in fiscal year 2022.
• India wants to reduce it to 5-6%.
• The app also aligns with India's broader plan to improve its ranking in the World Bank's Logistics
Performance Index, from 38 currently down to 25.
Dr. Mansukh Mandaviya virtually launches 'MedTech Mitra': A Strategic Initiative to Empower MedTech
Innovators and Advance Healthcare Solutions
• Union Health Minister Dr. Mansukh Mandaviya today virtually launched MedTech Mitra - a strategic
initiative to empower MedTech innovators and advance healthcare solutions.
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• It will be a game-changer for Indian MedTech industry and facilitate indigenous development of
affordable, quality MedTech devices and diagnostics.
• Dr. Mandaviya stated that the medical devices sector is an integral constituent of India’s healthcare
sector.
• India is taking a holistic approach to health with a vision to transform the health landscape in the
country by 2047.
Centre launches 3 sub-schemes under RAMP including Online Dispute Resolution for Delayed
Payments for MSMEs
• Union Minister for Micro, Small & Medium Enterprises (MSME) launched three sub-schemes under
the aegis of the RAMP programme.
• These are MSME Green Investment and Financing for Transformation Scheme (MSE GIFT
Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme)
MSE Scheme on Online Dispute Resolution for Delayed Payments.
• The first scheme - The MSME Green Investment and Financing for Transformation Scheme (MSME
GIFT Scheme) intends to help MSMEs adopt green technology with interest subvention and credit
guarantee support.
• The MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) is the
first-ever scheme in the Government to support circular economy projects which will be done
through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions
by 2070.
• The Support for Commercialisation of IP Programme (MSME – SCIP Programme) will enable the
innovators in the MSME sector to commercialize their IPR.
• In addition, the ZED Scheme of the Ministry has now been made completely free for women led
MSMEs.
• These two interventions were also launched by the Union Minister .
• It aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India. It
was launched in 2022.
• Small Industries Development Bank of India (SIDBI) for MSME GIFT and MSME SPICE schemes
and National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.
1467 projects of National Highways Authority of India (NHAI) have been brought under the Bhoomi
Rashi Portal
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• The Union Minister of Road Transport and Highways, 1467 projects of the National Highways
Authority of India (NHAI) have been brought under the Bhoomi Rashi Portal.
• It is an e-governance initiative of the Ministry of Roa d Transport and Highways.
• The portal intends to expedite the process of land acquisition for National Highways.
• It acts as a single-point platform for the online processing of land acquisition notifications to
accelerate highway infrastructure development projects in India.
• This portal would enhance the efficiency of the land acquisition process, ensure transparency and
accountability, and result in the e-transfer of benefits directly to the accounts of the beneficiaries.
Cabinet approves the Migration and Mobility Agreement between India and Italy
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its ex-post facto
approval to the proposal of Ministry of External Affairs to sign and ratify the Migration and Mobility
Agreement between the Government of the Republic of India and the Government of the Italian
Republic.
• The Agreement would enhance people-to-people contacts, foster mobility of students, skilled
workers, business people and young professionals and strengthen cooperation on issues related
to irregular migration between the two sides.
• Additionally, the Agreement also formalises joint working on furthering mobility pathways
between India and Italy through agreements on Youth Mobility and Facilitation of Recruitment of
Indian qualified professionals in the healthcare and medical services sectors which will be
discussed under the Joint Working Group (JWG).
• Cooperation between the two parties in fight against irregular migration has also been formalised
through the Agreement.
• Unless terminated by any Participant, the Agreement will be automatically renewed for a similar
successive period.
Cabinet approves opening of Consulate General of India in Auckland, New Zealand
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal
to open of a Consulate General of India in Auckland, New Zealand.
• Opening of Consulate General of India in Auckland would help in increasing India’s diplomatic
footprint and strengthen India’s diplomatic representation in view of India’s increasing global
engagement.
• This will also help promote India’s strategic and commercial interests and better serve the
welfare of Indian community in Auckland.
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• The Consulate is likely to be opened and fully operationalized within a time frame of 12 months.
Cabinet approves India and Malaysia sign an MoU for Cooperation in Broadcasting between Prasar
Bharati and Radio Televisyen Malaysia
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi was apprised of the
MoU/Agreement signed which has an immense potential to strengthen the cooperation in the
field of broadcasting, exchange of news, and audio-visual programmes as well as significantly
augment India’s friendly relations with the country.
• With this, the total number of MoUs signed by Prasar Bharati with different countries has
increased to 46.
• These MoUs are going to be crucial in distribution of content in other countries, in developing
partnerships with international broadcasters and exploring new strategies to address the
demands of new technologies.
• The major benefit arising out of signing of MoUs are exchange of programmes in the areas of
Culture, Education, Science, Technology, Sports, News and other fields on gratis/non-gratis
basis.
• India’s Public Service Broadcaster, Prasar Bharati has entered into a Memorandum of
Understanding with Radio Televisyen Malaysia, the Public Service Broadcaster of Malaysia in
order to promote cooperation in public broadcasting in the field of radio and television.
Cabinet approves Minimum Support Price for Copra for 2024 season
• The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi, has
given its approval for the Minimum Support Prices (MSPs) for copra for 2024 season.
• In order to provide remunerative prices to the cultivators, government had announced in the
Union Budget of 2018-19, that MSPs of all the mandated crops will be fixed at a level of at least
1.5 times of all India weighted cost of production.
• The MSP for Fair Average Quality of milling copra has been fixed at Rs.11,160/- per quintal and
for ball copra at Rs.12,000/- per quintal for 2024 season.
• Milling copra is used to extract oil, while ball/edible copra is consumed as a dry fruit and used for
religious purposes.
• Kerala and Tamil Nadu are major producers of million copra, whereas ball copra is produced
predominantly in Karnataka.
• The MSP for 2024 season is an increase of Rs.300/- per quintal for milling copra and Rs.250/-
per quintal for ball copra over the previous season.
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• A higher MSP will not only ensure better remunerative returns to the coconut growers but also
incentivize farmers to expand copra production to meet the growing demand for coconut products
both domestically and internationally.
Cabinet approves improvement and widening of 135 km stretch of Khowai-Harina road in Tripura
• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has
given its approval for Improvement & Widening to two lanes with a paved shoulder of road from
km 101.300 (Khowai) to km 236.213 (Harina) of NH-208, covering a total length of 134.913 kms
in the State of Tripura.
• The project involves an investment of Rs.2,486.78 crore which includes a loan component of
Rs.1,511.70 crore (JPY 23,129 Million).
• The loan assistant will be from the Japan International Cooperation Agency (JICA) under Official
Development Assistance (ODA) scheme.
• The project is envisaged to facilitate better road connectivity between various parts of Tripura
and to provide alternative access to Assam and Meghalaya from Tripura apart from existing NH-
8.
• After completion of the project, the connectivity will be improved which help to generate more
revenue to the State as well as income for local public.
• The construction period for the project stretches will be 2 years which includes the maintenance
of these National Highways stretches for 5 years (in the case of flexible pavement)/ 10 years (in
the case of rigid pavement) after completion of construction.
Cabinet approves construction of New 4.56 km long, 6-Lane Bridge across River Ganga connecting
Digha and Sonepur in Bihar
• The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi,
gave its approval for the Construction of New 4556 m long, 6-Lane High Level/ Extra Dosed
Cable stayed Bridge across River Ganga (Parallel to Western Side of Existing Digha-Sonepur
Rail-Cum Road Bridge) and its approaches on both sides in the Districts of Patna and Saran
(NH-139W) in the State of Bihar on EPC mode.
• The Total cost for the project is Rs.3,064.45 crore which includes civil construction cost of
Rs.2,233.81 crore.
• The Bridge will make the traffic faster and easier resulting in overall development of the State,
especially North Bihar.
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• \The work is to be implemented on EPC Mode with the use latest technology like 5D-Building
Information Modelling (BIM), Bridge Health Monitoring System (BHMS), monthly drone mapping to
ensure quality of construction and operations.
• The work is targeted to be completed in 42 months from the appointed date.
Major impact, including employment generation potential:
• This project is aimed at providing faster commute and to provide better connectivity between North
and South Parts of the Bihar. Thus, promoting the socio-economic growth of the entire region.
• The Bridge will connect two Districts namely Patna at Digha on South side and Saran on North Side
across River Ganga, Bihar.
• Government has declared the stretch “the Highway starting from its junction with NH-139 near Patna
(AIIMS) connecting Bakarpur, Manikpur, Sahebganj, Areraj and terminating at its junction with NH-
727 near Bettiah in the State of Bihar” as NH-139(W) vide Gazette Notification dated 8th July 2021.
Parliament passes 'Telecommunications Bill, 2023'
• The Telecommunications Bill, 2023, was passed in the Parliament.
• At present, the Indian Telecommunications sector is governed by three separate Acts of Parliament
– Indian Telegraph Act 1885, Indian Wireless Telegraphy Act 1933, Telegraph Wires, (Unlawful
Protection) Act 1950
• The Telecommunications Bill, of 2023 aims to consolidate these three separate Acts.
• Specified purposes include: (i) national security and defence, (ii) disaster management, (iii) weather
forecasting, (iv) transport, (v) satellite services such as DTH and satellite telephony, and (vi) BSNL,
MTNL, and public broadcasting services.
• The Bill amends the TRAI Act to also allow individuals with:
(i) at least 30 years of professional experience to serve as the Chairperson, and (ii) at least 25 years
of professional experience to serve as members.
• The Universal Service Obligation Fund has been established under the Indian Telegraph Act, 1885
to provide for telecom services in underserved areas.
• The Bill retains this provision, renames the fund as Digital Bharat Nidhi, and also allows its use for
research and development in telecom.
World Bank and Department of Economic Affairs launch PPP Beginner’s e-course to foster
collaboration between public and private sectors in infrastructure capacity-building
.
• In a step towards fostering collaboration between the public and private sectors in infrastructure
capacity-building, the Department of Economic Affairs (DEA), Ministry of Finance, Government of
India, and World Bank Group have launched an e-course.
• The e-course was launched by Ajay Banga, President, World Bank Group, launched the Public-
Private Partnership (PPP) Beginner’s e-Course.
• The course on PPPs comprises 5 modules which covers the major elements associated with the
lifecycle of PPP projects, including introduction to PPPs, identification of PPP projects, structuring of
projects, tendering and implementation and monitoring aspects of PPP projects.
• The duration of the course is 7 hours and 15 mins but is designed to be self-paced.
President Approves Chief Election Commissioner Bill and GST Amendment
• President Droupadi Murmu gave her assent to the Chief Election Commissioner and other Election
Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023.
• It was passed by the Parliament in the recently concluded Winter Session.
• The new legislation provides for the appointment, salary, and removal of the Chief Election
Commissioner (CEC) and Election Commissioners (ECs). According to the provisions, the CEC and
ECs will be appointed by the President upon the recommendation of a Selection Committee.
• The Chief Election Commissioner and other Election Commissioners shall hold office for a term of
six years from the date on which she/he assumes office or till she/he attains the age of sixty-five
years, whichever is earlier.
• The Chief Election Commissioner and other Election Commissioners shall not be eligible for re-
appointment.
• President Murmu also gave her assent to the Central Goods and Services Tax (Second
Amendment) Bill, 2023.
Central Government Raises Interest Rates on Select Small Savings Schemes
• The Central government has increased the rate of interest on two small savings schemes for
January-March 2024 quarter by up to 20 basis points.
• As per a notification by the Finance Ministry, the rate of interest on the Sukanya Samriddhi Account
Scheme has been raised by 20 basis points to 8.2 percent from 8 percent.
• Further, interest on the three-year time deposit has been increased by 10 basis points to 7.1 percent
from 7.0 percent.
• All other small savings schemes will continue to offer the same rate of interest as they did in
October-December quarter.
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Environment Minister Launches National Transit Pass System for Forest Produce Movement
• Union Environment Minister Bhupender Yadav launched the National Transit Pass System (NTPS)
pan-India to facilitate the seamless transit of timber, bamboo, and other forest produce across the
country.
• Mr Yadav said that NTPS is envisioned as a ‘One Nation-One Pass’ regime that will contribute to the
ease of doing business.
• NTPS will help strengthen the journey towards greater transparency, which is Prime Minister
Narendra Modi’s guarantee for India’s development.
• The system will also serve as a bridge between the rural and urban economy.
• Minister of State for Environment Ashwini Kumar Choubey emphasized that the NTPS is a game-
changer for agroforestry and trees outside the forest.
• NTPS is designed for user convenience, featuring desktop and mobile applications for easy
registration and permit applications.
• Presently, 25 States and Union Territories have adopted the unified permit system, streamlining
interstate business operations for producers, farmers, and transporters.
Fifty-one mineral exploration projects worth over 419 crore rupees were approved this year by the
National Mineral Exploration Trust
• Fifty-one mineral exploration projects worth over 419 crore rupees have been approved this year by
National Mineral Exploration Trust.
• The Mines Ministry, Geological Survey of India has taken up a total of 358 Mineral Exploration
Projects this year.
• In a bid to strengthen the supply chain of critical minerals in the country, the government has
launched the first auction process for twenty-four critical and strategic minerals.
• The Ministry has streamlined the rules and provisions of the District Mineral Foundation (DMF)
effective implementation of Pradhan Mantri Khanij Kshetra Kalyan Yojana.
• Efforts have been made to include private sector and latest technology into mineral exploration and
processing.
• The Centre has also introduced key policy measures and amendments including Mines and Minerals
(Development and Regulations) Amendment Act, 2023 and Offshore Area Minerals (Development
and Regulations) Amendment Act, 2023.
Shri Nitin Gadkari sanctions 29 road projects in Ladakh worth Rs 1170.16 crore
.
• Union Minister for Road Transport and Highways Shri Nitin Gadkari has sanctioned in the Union
territory of Ladakh an allocation of 1170.16 crore for 29 roads projects, encompassing state
Highway, major and other District roads.
• Shri Gadkari, additionally, 181.71 crore has been allocated for 8 bridges under the CRIF Scheme for
the fiscal year 2023 24.
• The Union Minister, Ladakh, the largest Union Territory in terms of area and the second least
populous in India, will witness improved connectivity to its remote villages through the approved
initiatives.
• The enhancement is expected to stimulate economic activities, particularly in agriculture and
tourism, contributing to the overall infrastructural development of Ladakh.
Prime Minister Narendra Modi becomes first world leader to reach 2 crore subscribers on YouTube
channel
• Prime Minister Narendra Modi becomes first world leader to reach 2 crore subscribers on YouTube
channel.
• Prime Minister Narendra Modi has become the world's first leader to have 20 million subscribers on
the YouTube channel.
• He has surpassed global leaders in terms of both subscribers and video views.
• Former Brazilian president Jair Bolsonaro is second on the list of subscriber numbers with around 64
lakh.
• In terms of views, Ukrainian President Volodymyr Zelenskyy is in second spot with 22.4 crore views.
• Among the Indian leaders, Rahul Gandhi's channel has more than 35 lakh subscribers.
• Prime Minister Narendra Modi set up his YouTube channel in 2007.
INTERNATIONAL NEWS
Ministry of Tourism Hosts International Tourism Mart in Shillong, Meghalaya to Showcase North East
Region's Tourism Potential
• The Ministry of Tourism, Government of India is organising the 11th edition of International
Tourism Mart at Shillong, Meghalaya.
• The International Tourism Mart is an annual event held by the Ministry in one of the North Eastern
States on rotation basis.
• The International Mart is also going to be a unique event, as it has been planned as a Green Event
by adopting low carbon options on the lines of the action points formulated by Ministry of
.
Environment, Forest and Climate Change, GOI for implementation of Mission LiFE and sensitising
the tourism stakeholders and generating greater awareness about its objectives.
About Ministry of Tourism :
• Cabinet Minister : G. Kishan Reddy
• Minister of State : Shripad Naik, Ajay Bhatt
Nepal Achieves Milestone as the First South Asian Nation to Legally Recognize Same-Sex Marriage
• Nepal has become the first South Asian country to officially register same-sex marriage.
• The marriage between 36-year-old Ram Bahadur (Maya) Gurun and Surendra Pandey has been
registered in Nepal.
• The registration of same-sex marriage in Nepal is facilitated by an interim order from the Supreme
Court, which supports the legal recognition of marriages between same-sex couples.
About Nepal :
• President : Ram Chandra Poudel
• Prime Minister : Pushpa Kamal Dahal
• Capital : Kathmandu
• Currency : Nepalese rupee
Pakistan Secures Vice Chair Post at UNESCO with a 10-Vote Lead Over India
• Pakistan secured a significant victory over India in the UNESCO executive board election for the
post of vice-chair.
• The Pakistani candidate received 38 votes, while the Indian candidate received only 18
• Pakistan’s victory of being elected as vice chair of the UNESCO Executive Board for 2023-2025
from the Asia Pacific Group, is being seen as a major setback for Indian
diplomats in the UN.
About UNESCO :
• Founded : 1945
• Headquarters : Paris, France
• Director General : Audrey Azoulay
About Pakistan:
• Capital: Islamabad
• Currency: Rupee
• President: Arif Alvi
.
India-Sweden Industry Transition Partnership, LeadIT 2.0 Launched at COP28 Dubai

• India and Sweden launched Leadership Group for Industry Transition (LeadIT) 2.0 during the
COP28 World Climate Action Summit, hosted in Dubai for the period 2024-26, at COP-28 in Dubai.
• LeadIT was initially co-launched by India and Sweden at the UN Climate Action Summit in New
York in 2019.
• LeadIT has grown into a collaborative effort involving 18 countries and 20 industry-leading
companies.
• The LeadIT initiative, initially centred around pivotal sectors such as iron, steel, cement, and
aluminium, focused on industry transition and knowledge sharing.
About Sweden :
• Prime Minister : Ulf Kristersson
• Capital : Stockholm
• Currency : Swedish krona
18 Countries Back New Global Guidelines, Crafted by the US and UK, to Enhance Cybersecurity in
Artificial Intelligence (AI)
• 18 countries endorsed new global guidelines, developed by the United States (US) and the United
Kingdom (UK), to make artificial intelligence (AI) “secure by design” and “raise the AI cybersecurity
bar.
• The Guidelines for Secure AI System Development deal with secure design, development,
deployment and operation and maintenance of AI systems.
• The guidelines were formulated by the UK’s National Cyber Security Centre (NCSC) and the US’s
Cybersecurity and Infrastructure Security Agency (CISA).
• They aim to “raise the cybersecurity levels of artificial intelligence and help ensure that it is
designed, developed, and deployed securely.
Prime Minister Shri Narendra Modi Advocates India as Host for 2028 Climate Conference, Urges
Nations to Prioritise Global Interests
• Prime Minister (PM) Shri Narendra Modi calls on countries to prioritise global interests over self-
interest and fulfil all climate obligations.
• Emphasizes the need for developing countries to have appropriate access to the remaining global
carbon budget.
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• Speaking at the high-level segment of the COP28 meeting in Dubai (UAE), he also proposed to
host the 2028 climate change conference, COP33, in India.
• India has hosted the annual climate change conference called the conference of parties (COP) of
the UNFCCC once earlier - COP8 in 2002.
Pakistan Submits BRICS Membership Application in 2024

• Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting on
Russia’s assistance during the membership process.
• Pakistan’s application came as the grouping of emerging economies was set for its biggest
expansion with 6 new members under Russia’s rotating Presidency in 2024.
• New Members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE)
as new members formally admitted to the BRICS summit-2023 held in South Africa.
• However, they will formally join during the 2024 summit in Kazan, Russia.
About New Development Bank (NDB) :
• New Development Bank (NDB) is a multilateral development bank established by BRICS during
the Summit held in Fortaleza on July 15, 2014, and the Bank started operations on July 21, 2015.
• It consists of Brazil, Russia, India, China, and South Africa, which was previously known as BRIC
before South Africa’s inclusion in 2010.
About Pakistan:
• Currency: Rupee
The UAE announced a US$30 billion commitment to the newly launched catalytic climate vehicle,
ALTÉRRA.
• With this US$30 billion commitment, ALTÉRRA becomes the world’s largest private investment
vehicle for climate change action and will aim to mobilize US$250 billion globally by 2030.
• It aims to steer private markets towards climate investments and focus on transforming emerging
markets and developing economies, where traditional investment has been lacking due to the
higher perceived risks across those geographies.
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• ALTÉRRA has been established by Lunate, an independent global investment manager, and is
domiciled in the Abu Dhabi Global Market.
India to Extend $250 Million Line of Credit to Kenya for the Modernization of its Agricultural Sector
• India has committed a $250 million Line of Credit to Kenya for the modernization of its agricultural
sector.
• The announcement came following talks between Indian Prime Minister Narendra Modi and
Kenyan President William Samoei Ruto.
• Modi and Ruto discussed and agreed to strengthen bilateral ties in various sectors, including
defence, trade, energy, digital public infrastructure, and healthcare.
About Kenya :
• President : William Samoei Ruto
• Capital : Nairobi
• Currency : Kenyan shilling
Italy withdraws from China's Belt and Road project
• Italy has officially pulled out of China's Belt and Road infrastructure initiative, making this move
more than four years after initially joining as the sole G7 nation to do so.
• Italy had initially signed an agreement to join the BRI in 2019.
• However, after 4 years, the expected benefits did not materialize for Italy.
• The agreement with China was supposed to be automatically renewed after expiring in March
2024, unless Rome gave at least three months' written warning of pulling out.
• Chinese FDI in Italy dropped from $650 million in 2019 to just $33 million in 2021.
India Chosen as the Flagship Nation for the International Maritime Organization (IMO) Green Voyage
2050 Project
•
• India has been selected as the pioneer lead country for the International Maritime Organization
(IMO) Green Voyage2050 Project.
• The overall goal of the Project is to support effective implementation of the Initial IMO GHG
Strategy.
• The Initial IMO Strategy sets out a clear vision and levels of ambition, one of which is to reduce the
total annual GHG emissions by at least 50% by 2050 compared to 2008.
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UNICEF and India Jointly Launch "Green Rising" Initiative at COP28 to Mobilize Youth for Climate
Action
• The United Nations Children's Fund (UNICEF), originally known as the United Nations International
Children's Emergency Fund, and India will launch the "Green Rising" initiative at the COP28
Summit in Dubai.
• UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and
Climate Change will launch this initiative.
• This initiative will be launched to mobilize youth to drive climate action.
• The "Green Rising India Alliance" and the global "Green Rising" programme are the result of a
partnership between UNICEF, Generation Unlimited, and a wide range of youth, public, and
business partners.
About UNICEF :
• Headquarters : New York, United States
• Executive Director : Catherine Russell
• UNICEF is an agency of the United Nations responsible for providing humanitarian and
developmental aid to children worldwide.
Sweden and United States Ink Defence Cooperation Agreement in Washington

• Sweden signed a defence cooperation agreement with the United States in Washington.
• It will allow the US to access all of the military bases in the Scandinavian country which is about to
join the trans-Atlantic security alliance, North Atlantic Treaty Organization (NATO).
• The US struck a similar deal with Sweden’s neighbour, Norway, in 2021 and is currently
negotiating such an agreement with two other Nordic countries, Finland and Denmark.
• Sweden and Finland decided to drop their long-standing policy of non-alignment and
apply for NATO membership following Russia’s full-scale invasion of Ukraine last year. Finland
joined NATO in April, 2023.
About Sweden :
• Prime Minister : Ulf Kristersson
• Capital : Stockholm
• Currency : Swedish krona
.
Argentina's Entry into BRICS Postponed; Not Joining Developing Economies Bloc Next Year as
Planned
• Argentina's entry into the BRICS bloc of developing economies, originally scheduled for January 1,
2024, has been postponed.
• The decision is seen as a precursor to a significant foreign policy shift in Argentina under the
leadership of right-wing populist Mr. Milei, indicating potential changes in diplomatic priorities.
• Argentina was one of six countries invited in August to join BRICS, comprising Brazil, Russia,
India, China, and South Africa.
• The move aimed to expand the bloc to an 11-nation alliance.
Garba Dance from Gujarat Recognized as UNESCO's 'Intangible Cultural Heritage'

• The United Nations Educational, Scientific and Cultural Organization (UNESCO) approved the
inclusion of garba, Gujarat’s most popular folk dance form, in its Representative List of Intangible
Cultural Heritage (ICH) of Humanity.
• A decision to “inscribe” the dance form as “intangible heritage” was taken at the 18th session of
UNESCO’s Intergovernmental Committee for Safeguarding of Intangible Cultural Heritage held in
the Republic of Botswana
• With this, 15 elements from various parts of India have been inscribed to UNESCO’s
representative list of ICH.
About UNESCO Intangible Cultural Heritage List :
• The UNESCO Intangible Cultural Heritage List was established in 2008.
• Objective of UNESCO 2003 Convention: The objective of listing under the UNESCO 2003
Convention is to recognize and promote the significance of intangible cultural heritage while
fostering awareness and respecting cultural diversity.
• Indian Representation in IGC: In 2022, India became part of the 24-member Intergovernmental
Committee (IGC) of the ICH 2003 Convention for a tenure of 4 years.
• Cultural Diversity and Dialogue: The listing under UNESCO's conventions aims to foster dialogue
that respects cultural diversity and emphasizes the importance of preserving and celebrating
cultural traditions.
About UNESCO:
• Established : 16 November 1945
• Headquarters : Paris, France
.
• Director General : Audrey Azoulay

• Parent Organisation : United Nations Economic and Social Council
• UNESCO is a specialised agency of the United Nations (UN) aimed at promoting world peace and
security through international cooperation in education, arts, sciences and culture.
India Pledges $1 Million in Immediate Relief Aid to Papua New Guinea Following Mount Ulawun
Volcanic Eruption
• India announces a $1 million relief assistance package for Papua New Guinea in the aftermath of
the Mount Ulawun volcanic eruption.
• The financial aid is designated for immediate relief and will support rehabilitation and
reconstruction efforts in Papua New Guinea.
• Ulawun is the highest mountain in New Britain and the second in the Bismarck Archipelago at
2,334 metres, and is one of the most active volcanoes in Papua New Guinea.
• India, as a close friend and in solidarity with the people of Papua New Guinea, will provide
immediate relief assistance to aid rehabilitation and reconstruction efforts.
About Papua New Guinea :
• Prime Minister : James Marape
• Capital : Port Moresby
• Currency : Kina
Dubai Unveils World's Largest Concentrated Solar Power Project during COP28
• The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park has been inaugurated by
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and
Ruler of Dubai.
• This marks the launch of the world's largest Concentrated Solar Power (CSP) project.
• Built at an investment of AED15.78 billion, the 950 MW project utilises three hybrid technologies.
• The three hybrid technologies used are 600 MW from a parabolic basin complex, 100 MW from a
CSP tower, and 250 MW from photovoltaic solar panels.
• According to Guinness World Records, the project includes the world's tallest solar tower at
263.126 metres and the largest thermal energy storage capacity with a capacity of 5,907 megawatt
hours.
India Allocates Rs.100 Crore Annually to Support International Solar Alliance for Energy Transition in
Developing Economies (2022-2025)
.
• The Union Minister for New & Renewable Energy and Power has informed that the G20 New Delhi
Leaders’ Declaration states in Para 38(v) that G20 members “will pursue and encourage efforts to
triple renewable energy capacity globally through existing targets and policies, as well as
demonstrate similar ambition with respect to other zero and low-emission technologies, including
abatement and removal technologies, in line with national circumstances by 2030.”
• The Government of India has taken several steps and initiatives to promote and accelerate
renewable energy capacity in the country with the target to achieve 500 GW of installed electric
capacity from non-fossil sources by 2030.
Sri Lanka Secures Debt Treatment Agreement with India and Paris Club
• Sri Lanka has achieved an “agreement in principle” with India and the Paris Club group of creditors
on a debt treatment plan.
• Objective of the Agreement : The agreement facilitates Sri Lanka's access to the next installment
of the International Monetary Fund’s (IMF) nearly $3 billion recovery package.
• Terms of Debt Treatment Agreement : Sri Lanka and the Official Creditor Committee (OCC)
reached an agreement on the main parameters of debt treatment.
• These parameters are consistent with those of the Extended Fund Facility (EFF) arrangement
between Sri Lanka and the IMF.
• Default on Foreign Debt by Sri Lanka : Sri Lanka decided to default on its almost $51 billion foreign
debt.
About Sri Lanka
• Capitals: Colombo, Sri Jayawardenepura Kotte
• Currency: Sri Lankan Rupee
• Prime minister: Dinesh Gunawardena
India and UAE Jointly Host Global Green Credit Initiative at COP-28
• Prime Minister Narendra Modi together with President Sheikh Mohammed bin Zayed Al Nahyan of
the United Arab Emirates (UAE), co-hosted the High-level event on ‘Green Credits Programme’ at
COP-28, in Dubai.
• The Green Credit Initiative has been conceptualised as a mechanism to incentivize voluntary pro-
planet actions, as an effective response to the challenge of climate change.
• It envisions the issue of Green Credits for plantations on waste/degraded lands and river
catchment areas, to rejuvenate and revive natural eco-systems.
.
• In a landmark announcement at COP28 (1st December 2023), the Indian PM launched the 'Green
Credit Initiative,' a pathbreaking program aimed at reshaping global environmental policies.
About UAE :
• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham
New Zealand's Newly Elected Government Reverses Decision on Smoking Ban
• New Zealand's newly elected government has repealed the decision to implement a smoking ban
for the new generation.
• The decision to ban smoking for the new generation has been reversed by the newly-elected
government.
• The smoking ban in New Zealand was initially implemented to save lives and prevent youths from
taking up smoking.
About New Zealand:
• Prime Minister : Chris Hipkins
• Capital : Wellington
• Currency : Dollar
India and the United States Collaborate on a $390 Million Funding Initiative to Implement 50,000
Electric Buses by 2027
● India is aiming to get 50,000 electric buses on its streets by 2027 with help from a joint finance
mechanism with the United States (US).
● The $390 million fund will act as a guarantee for manufacturers seeking loans to expand
production, Indian and US officials said at a side event at COP28. India currently only has 12,000
e-buses in operation.
● The payment security mechanism, established with $150 million from the US government and
philanthropic groups, and $240 million from the Indian government.
India, South Korea, and the United States to Establish Technology Trialogue
● India, South Korea and the United States (US) will start an informal trilateral technology dialogue
in the first quarter of 2024 in response to China's rapid progress in critical technologies within the
Indo-Pacific region.
.
● The decision was made during the inaugural US-South Korea Next Generation Critical &
Emerging Technologies Dialogue held in Seoul.
● The two sides agreed to hold “National Security Council and National Security Office-led
consultations with like-minded partners on critical and emerging technologies including through
launching an informal trilateral technology dialogue with India in the first quarter of 2024".
● An Initiative on Critical and Emerging Technology (iCET), announced by India and the US in
2022, has been one high- profile example.
● Similar to the Quad group, the India-US-South Korea trilateral dialogue aims to address critical
technologies.
● This collaboration could complement the Quad initiative.
● The Quad countries (Australia, India, Japan, and the US) launched the Quad Principles on
Technology Design, Development, Governance, and Use at the Quad Leaders’ Summit on
September 24, 2021.
● The Seoul meeting, chaired by US National Security Advisor Jake Sullivan and Republic of Korea
(ROK) National Security Advisor Cho Tae-yong, outlined six main strategic technology areas for
cooperation.
About United States :
● President : Joe Biden
● Capital : Washington, D.C
● Currency : U.S. dollar
About South Korea :
● President : Yoon Suk Yeol
● Prime Minister : Han Duck-soo
● Capital : Seoul
● Currency : Korean Republic won
Prime Minister Shri Narendra Modi inaugurates annual Global Partnership on Artificial Intelligence
(GPAI) Summit in New Delhi
● The Global Partnership on Artificial Intelligence (GPAI) Summit was inaugurated at Bharat
Mandapam in New Delhi.
● Prime Minister Modi emphasized that Artificial Intelligence is for social development and inclusive
growth and the government has drafted its policies and programs with the spirit of AI for All.
● GPAI is a multi-stakeholder initiative with 29 member countries.
.
● Its goal is to bridge the gap between theory and practice on AI by supporting cutting-edge
research and practical activities on AI-related priorities.
● GPAI Formation : Canada and France first proposed the GPAI at the 2018 44th G7 summit.
● GPAI was officially launched in June 2020 with fifteen founding members.
● The Organization for Economic Co-operation and Development (OECD) hosts GPAI.
Australia Hit by Tropical Cyclone Jasper, Coastal Communities Brace for Life-Threatening Floods
● Thousands of people were affected when Tropical Cyclone Jasper hit northeastern Australia.
● People in coastal areas are living without electricity and facing the crisis of floods.
● The Australian Meteorological Department stated that the cyclone has slowly reached some
areas.
● Wind speeds of up to 113 kilometres (70 miles) per hour were recorded as Tropical Cyclone
Jasper made landfall on the coast.
● A tropical cyclone is described as a low-pressure system with very high winds circulating around
it.
● These cyclones typically occur in the region between 5-35° latitude north or south of the equator.
● In Australia, tropical cyclones are colloquially referred to as "willy-willy."
About Australia :
● Prime Minister - Anthony Albanese
● Capital - Canberra
● Currency : Australian Dollar
United Kingdom to Implement Climate Levy on Imported Steel from 2027
● he United Kingdom government follows the European Union in deciding to enforce a carbon
border tax on specific commodities such as iron, steel, aluminium, ceramics, and cement, starting
in 2027.
● The tax amount will be determined by the volume of carbon emissions associated with the
production of the imported goods and the disparity between the carbon price in the UK and the
originating country.
.
● Objective of the Tax Levy : The introduction of this tax aims to ensure that carbon-intensive
products like steel and ceramics from other nations face a carbon price comparable to those
produced within the UK.
● Confidence for UK Industry: The carbon border tax is expected to instill confidence in the UK
industry to invest in decarbonization efforts, aligning with the country's commitment to
environmental sustainability.
● India's Opposition to EU's CBAM: India has expressed opposition to the European Union's
carbon border adjustment mechanism (CBAM) and has formally protested at the World Trade
Organization (WTO).
● WTO Rules and UN Framework Argument: India contends that the EU's CBAM goes against the
differentiated approach for developing countries and is inconsistent with the rules of the WTO
and the United Nations framework.
● Trade Dispute: The dispute at the WTO reflects tensions over the perceived fairness and
compatibility of carbon border measures with established international trade regulations.
● Global Policy Landscape: The UK's adoption of a carbon border tax aligns with a global trend of
countries exploring mechanisms to address carbon emissions in international trade.
About UK :
● Prime Minister: Rishi Sunak
● Capital: London
● Currency: Pound sterling
Colorado Supreme Court Rules to Exclude Donald Trump from State's 2024 Presidential Election Ballot
● The top court in the United States (US) state of Colorado ordered former US President Donald
Trump to be taken off the ballot in the state for the Presidential elections next year.
● Basis of Disqualification: The Colorado Supreme Court cited Section Three of the Fourteenth
Amendment to the United States Constitution as the grounds for disqualifying Trump from
holding the office of President.
● Section Three of the Fourteenth Amendment: The court's ruling is based on Section Three of the
Fourteenth Amendment, which states that individuals who participated in an insurrection or
rebellion are ineligible to hold public office.
.
● January 6, 2021 Attacks: The court's judgement is connected to Trump's alleged involvement in
the January 6, 2021, attacks on the US Capitol by his supporters during the certification of the
Electoral College results.
● Contestation by Trump: Donald Trump has expressed his intention to contest the ruling. The
case is anticipated to be elevated to the United States Supreme Court for further legal
consideration.
● Unprecedented Application of Section Three: This marks the first instance where Section Three
of the Fourteenth Amendment has been invoked concerning a former President.
● Limited Impact on Electoral Prospects: Even if the U.S. The Supreme Court upholds the
Colorado judgement, it would only prevent Trump from being included in the ballot in Colorado
for the 2024 election.
● Historical Context: The application of Section Three of the Fourteenth Amendment in this case is
described as a rare occurrence, highlighting the unique circumstances surrounding the events of
January 6, 2021.
GCC-South Korea sign free trade deal in boost to Gulf-Asia economic ties
● The GCC has signed a free trade agreement with South Korea to boost trade and economic
ties between the six-member bloc and Seoul.
● This is the second such trade deal signed by the GCC in recent months following an agreement
with Pakistan in September, the GCC Secretary General Jasem Al Budaiwi stated.
● The agreement is a “historic step towards achieving Gulf economic integration and towards
strengthening economic and trade relations between the two sides”, Mr Al Budaiwi stated.
● “The signing of free trade agreements with both Pakistan and South Korea, within a period of
three months … takes into account the wonderful economic position that the GCC countries have
reached,” Mr Al Budaiwi stated.
● The region is forecast to grow by 1 per cent in 2023 before rebounding to 3.6 per cent and 3.7
per cent in 2024 and 2025, respectively, the World Bank said last month.
● The UAE, the Arab world's second-largest economy, is pursuing a target of Dh4 trillion ($1.09
trillion) in foreign trade by 2031 as part of its diversification plans. It also aims to double the size
of its economy by 2030.
● The UAE's non-oil foreign trade hit a record Dh1.24 trillion in the first half of the year, up 14.4 per
cent year-on-year.
.
● It has signed deals with India, Israel, Turkey, Indonesia, Cambodia and Georgia, each of which
are designed to boost economic activity and secure supply chains. The first four agreements are
already in effect.
● The UAE is South Korea’s second-largest Arab trade partner, with bilateral non-oil trade in the
first half of the year reaching $3 billion, similar to the first half of 2022, state news agency Wam
reported.
About Gulf Cooperation Council:
● The Cooperation Council for the Arab States of the Gulf, also known as the Gulf Cooperation
Council (GCC, is a regional, intergovernmental, political, and economic
union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
● The council's main headquarters is located in Riyadh, the capital of Saudi Arabia.
● The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
● All current member states are monarchies, including three constitutional monarchies (Qatar,
Kuwait, and Bahrain), two absolute monarchies (Saudi Arabia and Oman), and one federal
monarchy (the United Arab Emirates, which is composed of seven member states, each of which
is an absolute monarchy with its own emir).
STATE NEWS
Bihar Government Initiates Program for 25 Lakh Academically Challenged School Children
• The Bihar government will launch a programme in December 01, 2023 for nearly 2.5 million
children lagging woefully behind their peers in schools with some of them incapable of reading
simple Hindi words despite having reached upper primary classes.
• As part of the programme, 'Mission Daksh', the state Education Department has directed teachers
to intensively mentor such students, in batches of not more than five, with the "warning" that any
laxity will cause them to face action.
• The effective implementation of ‘Mission Daksh’ will be monitored by District-wise monitoring
committees led by district magistrates (DMs).
• All 25 lakh (approximately) such (academically weak) students will appear in their final
examinations in April, 2024.
About Bihar :
• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
.
• Capital : Patna
• National Park : Valmiki National Park
• Wildlife Sanctuaries : Bhimbandh Sanctuary, Nagi Dam Bird Sanctuary, Udaypur Vanya Prani
Sanctuary
Delhi Government Set to Notify Motor Vehicle Aggregator Scheme
• Delhi Government has introduced the Delhi Motor Vehicle Aggregator and Delivery Service
Provider Scheme.
• The scheme mandates a complete transition to electric vehicles (EVs) for all cab aggregators and
delivery service providers by 2030.
• Coverage : The policy applies to all aggregators offering passenger transport services in Delhi.
• It also includes those engaged in delivery services, including e-commerce vehicles.·
• Registration and Licensing : Interested parties must register with the government within 90 days
from the date of notification.
• The licence will be valid for 5 years.
• Electric Bike Taxis : Even though the scheme made provisions to allow bike taxis again, only
electric two-wheelers will be considered valid with immediate effect..
About Delhi :
• Lt. Governor : Vinai Kumar Saxena
• Chief Minister : Arvind Kejriwal
Tamil Nadu Chief Minister Stalin Announces Establishment of Footwear Park with a Budget of Rs 400
Crore
• The Tamil Nadu (TN) government has planned to set up a footwear manufacturing park at an
outlay of Rs 400 crore on a 250-acre land.
• The industrial project would generate 20,000 new jobs in Ranipet district.
• Stalin made those comments after virtually inaugurating a footwear manufacturing facility set up at
an investment of Rs 400 crore by JR One Footwear Pvt Ltd at Eraiyur in Perambalur district, about
250-km south of Chennai.
• Through public-private partnerships, Stalin stated that the government also planned to set up
industrial parks on 50-acre land for the leather and footwear industries in TamilNadu.
About Tamil Nadu :
• Governor: R. N. Ravi
.
• Chief minister: M. K. Stalin

• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve
Delhi Government School Pioneers First-of-its-Kind Biodiversity Park to Foster Ecosystem Education
and Green Practices
• A Delhi government school has established the first-of-its-kind biodiversity park to promote the
ecosystem and provide students with hands-on learning experiences in agriculture, farming,
nature, and greenery.
• The biodiversity park is located at Sarvodaya Kanya Vidyalaya in Defence Colony, Delhi.
• Open to the public, people can visit the park during the winter season.
• The park features a diverse range of plant life, including native Indian flowers, various rose
varieties, an Amrapali mango tree, different types of curry leaves, lemon trees, and plants imported
from Telangana and South Africa.
About Delhi :
Nagaland Gears Up for the Commencement of the 24th Hornbill Festival 2023 at Naga Heritage Village,
Kisama
• The 24th edition of the Hornbill Festival has commenced at Naga Heritage Village Kisama.
• The United States of America (USA), Germany, and Colombia are the Country Partners, and
Assam is the Partner State for the 24th Hornbill Festival.
• Governor of Nagaland, La Ganesan, and Chief Minister Neiphiu Rio were the Chief Guests at the
festival.
• The main hornbill stage will showcase 40 bands and acts, featuring a total of 800 artists.
.
• Bands from Germany, the United States of America (USA), Colombia, and South Korea are
participating in the festival.
• For the first time, there will be an exhibition featuring Mithun and Tenyi Vo.
About Nagaland :
• Governor : La. Ganesan
• Chief Minister : Neiphiu Rio
• Capital : Kohima
• National Park : Intanki National Park
• Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar
Wildlife Sanctuary
Meta & Karnataka government collaborate for online safety training

• Meta, the parent company of Instagram and Facebook, has entered into a two-year partnership
with the Karnataka government with an aim to focus on digital education and online user safety for
students in Karnataka.
• The Karnataka government is working on launching a comprehensive blueprint to equip students
with digital skills, enhancing their employability.
About Karnataka :
• Governor : Thawar Chand Gehlot
• Chief Minister : Siddaramaiah
• Capital : Bangalore
• National Park : Bandipur National Park, Nagarhole National Park, Mudumalai National Park
Odisha Chief Minister Naveen Patnaik Unveils Ama Bank for Banking Services via Customer Service
Points (CSP)
• Odisha Chief Minister (CM) Shri Naveen Patnaik has inaugurated Ama Bank, a banking initiative
aimed at providing services through Customer Service Points (CSP).
• Ama Bank is part of the financial inclusion program and aims to cover 4,373 unbanked gram
panchayats in Odisha.
About Odisha :
• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
.
• National Park : Bhitarkanika National Park,

• Wildlife Sanctuaries : Gahirmatha Marine Wildlife Sanctuary, Chandaka Dampara Wildlife
Sanctuary
• Ramsar Sites : Ansupa Lake, Bhitarkanika Mangroves, Chilika Lake, Tampara Lake
Uttar Pradesh Government Enters into MoUs with Council of Scientific and Industrial Research and
Defence Research and Development Organization to Advance Research in the Medical Sector
• The Yogi government in Uttar Pradesh is focusing on connecting the proposed Bulk Drugs Park in
Lalitpur with technology along with research and innovation to provide high-quality and affordable
medicines and medical devices.
• The Uttar Pradesh government has given approval for the establishment of the state's first Pharma
Park in Lalitpur district, located in Bundelkhand.
• The government has allocated a budget of Rs 1560 crore for the development and provision of
necessary facilities to investors in Lalitpur Pharma Park.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary
Governor of Maharashtra Introduces Five School Initiatives Aimed at Holistic Student Development
• Maharashtra Governor Ramesh Bais launches 5 school initiatives for holistic student development.
• These five futuristic initiatives include
• Chief Minister Majhi Shala Sundar Shala
• Maha Vachan Utsav
• Adopt a School Campaign
• Majhi Shala Majhi Parasbag,
• Swachata Monitor.
• These initiatives aim to develop the holistic personality of the students to ensure that future
generations are sensitive and responsible towards their environment.
.
About Maharashtra
• Governor: Ramesh Bai
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Lok Sabha Discusses Jammu and Kashmir Bills for Reservation and Reorganisation
• Lok Sabha deliberated on the Jammu and Kashmir Reservation (Amendment) Bill, 2023, and the
Jammu and Kashmir Reorganisation (Amendment) Bill, 2023.
• Jammu and Kashmir Reservation Act, 2004: The Jammu and Kashmir Reservation Act, 2004 is to
be amended by the Jammu and Kashmir Reservation (Amendment) Bill, 2023.
• This Act provides for reservation in jobs and admission to professional institutions to members of
the Scheduled Castes, Scheduled Tribes, and other socially and educationally backward classes.
Assam's Royal Burial Grounds Submitted As Nomination For UNESCO Tag
• Assam's Charaideo Moidams, the royal burial mounds of the Ahom dynasty, is India's official
nomination for inclusion in the UNESCO World Heritage List for 2023-24.
• The burial mounds, characterized by pyramid-like structures called 'moidams,' were utilized by the
Tai-Ahom dynasty. This dynasty ruled Assam for approximately 600 years, spanning from the 13th
century to the 19th century.
• The government has confirmed India's nomination for consideration as a World Heritage site for
the 2023-24 cycle.
Hindu cremation rituals.
• Selection of sites or properties for World Heritage nomination depends upon its Outstanding
Universal Value (OUV), Authenticity and Integrity.
About Assam :
• Governor : Gulab Chand Kataria
• Chief Minister : Himanta Biswa Sarma
• Capital: Guwahati
• National Park: Kaziranga National Park, Manas National Park, Nameri National Park
.
• Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary
India's 1st Telecom Centre of Excellence to come up in Uttar Pradesh's Saharanpur

• The Uttar Pradesh (UP) government has announced plans to build India’s first Telecom Centre of
Excellence in Indian Institute of Technology (IIT) Roorkee.
• According to the state government, the new centre will not just widen UP’s participation in
technology and innovation but will also propel the telecommunications sector.
• The state government has announced to shell out as much as Rs 30 crore in establishing a
research centre at IIT Roorkee in Saharanpur
• The centre will focus on the intersection of 5G technology and artificial intelligence (AI) and will lay
the groundwork for the launch of 6G technology.
About UP :
Prime Minister Shri Narendra Modi Gives Green Signal to Chennai's First Urban Flood Mitigation
Project Worth ₹561.29 Crore
• Prime Minister Shri Narendra Modi sanctioned a ₹561.29 crore urban flood mitigation project for
Chennai after the impact of Cyclone Michuang in Tamil Nadu.
• The project is funded under the National Disaster Mitigation Fund (NDMF)
• The approved project is titled 'Integrated Urban Flood Management activities for Chennai Basin
Project.'
• Defence Minister Rajnath Singh with Tamil Nadu Minister for Finance & Human Resources
Management Thangam Thenarasu and Chief Secretary Shiv Das Meena also carried out an aerial
survey of areas ravaged by cyclone Michuang in-and-around Chennai.
About Tamil Nadu :
.
Sanctuary
Lakadong Turmeric from Meghalaya Receives Geographical Indication Status

• Meghalaya's Lakadong turmeric has been awarded the Geographical Indication (GI) tag.
• It is considered to be one of the world's best varieties of turmeric, with a curcumin content of
around 6.8 to 7.5%.
• It is darker in colour and is grown organically without the use of fertilisers.
• It is found in the Lakadong area of Jaintia Hills, and has high curcumin content.
About GI Tag :
• A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
manufactured product (handicraft and industrial goods) originating from a definite geographical
territory.
• A GI is a label that is applied to products that have a specific geographical origin and that have
characteristics related to a particular location.
• The tag is valid for a period of 10 years after which it is renewed.
• The Geographical Indications of Goods (Registration and Protection) Act, 1999 seeks to provide
for the registration and better protection of geographical indications relating to goods in India.
About Meghalaya :
• Governor : Phagu Chauhan
• Chief Minister : Conrad Sangma
• Capital : Shillong
Telangana Chief Minister launches free bus rides for women and enhanced Aarogyasri Scheme
.
• Chief Minister of Telangana, A. Revanth Reddy launched Maha Lakshmi Scheme and Rajiv
Aarogyasri Scheme enhanced to ₹10 lakh in Hyderabad.
• These two are among the six guarantees of Congress.
• The scheme allows girls, women, and transgender persons of all ages, domiciled in Telangana, to
travel free of cost in TSRTC buses.
• The Rajiv Arogyasri Scheme provides financial protection to families living below the poverty line.
• It offers up to ₹10 lakh in a year for the treatment of serious ailments requiring hospitalisation and
surgery and also financial coverage up to ₹10 lakh for high end procedures, according to the Rajiv
Aarogyasri Health Care Trust.
About Telangana:
• Capital: Hyderabad
• Governor: Tamilisai Soundararajan
• Chief minister : Anumula Revanth Reddy
Arunachal Pradesh Chief Minister Pema Khandu and US Ambassador Jointly Inaugurate 'The Hump
WWII Museum
• Arunachal Pradesh Chief Minister (CM) Pema Khandu and US Ambassador to India Eric Garcetti
inaugurated ‘The Hump WWII Museum’, the 2nd museum in Asia dedicated to the fallen airmen of
the Allied Forces during the WWII at Pasighat in Arunachal Pradesh.
• The Hump, Garcetti claimed, isn’t just a museum in some remote part of India, half the world round
from the US but already a world class museum.
• The pilots of the Allied Forces nicknamed the air-route from airfields in Assam to those in Yunnan
in China ‘The Hump’ because their aircraft had to navigate deep gorges and then quickly fly over
mountains rising beyond 10,000 feet.
About Arunachal Pradesh :
• Governor : Kaiwalya Trivikram Parnaik
• Chief Minister : Pema Khandu
• Capital : Itanagar
Gujarat Government Enters into Memorandum of Understanding with Airports Authority of India for the
Development of 11 Airports
• Gujarat, the State government has signed a memorandum of understanding (MoU) with the
Airports Authority of India (AAI) to develop 11 new greenfield airports and expand 9 existing ones.
.
• Though an estimate for these projects have not been drawn, each airport is likely to cost ₹1,500-
3,000 crore.
• Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira and
Palitana have been identified for the development of greenfield airports.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park,
• Wildlife Sanctuary : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National
Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary
About AAI:
• The Airports Authority of India, or AAI, is a Statutory body under the ownership of the Ministry of
Civil Aviation, Government of India.
• AAI was constituted by an Act of Parliament and came into being on 1st April 1995 by merging the
erstwhile National Airports Authority and the International Airports Authority of India.
• Headquarters: New Delhi
• Founded: 1 April 1995
• Chairman: Sanjeev Kumar
Government Approves Cheetah Breeding Center in Gujarat's Banni Grasslands

• The Central Government has granted approval for the establishment of a cheetah breeding and
conservation centre in Gujarat's Banni Grassland.
• The Gujarat government submitted a proposal for the cheetah breeding center to the National
Compensatory Afforestation Fund Management Authority under National CAMPA.
• Banni Grassland is situated along the northern border of Kachchh district in the State of Gujarat.
• Banni Grassland is recognized as one of the largest grasslands in the Indian subcontinent,
covering an extensive area of over 2500 square kilometres.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
.
• NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife
Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga
Wildlife Sanctuary
Apple supplier Corning to build a Rs 1000 crore facility in Tamil Nadu
● Key Apple supplier and American gorilla glass maker, Corning Inc., is investing Rs 1,000 crore to
set up a manufacturing facility in Tamil Nadu (TN).
● The facility will be set up at Pillaipakkam, near Sriperumbudur, on a 25-acre plot, which can be
expanded if the need arises and will employ around 300 people.
● Corning Inc. is a Fortune 500 materials science company headquartered in New York.
● They are known as the inventors of gorilla glass, a strengthened glass widely used in portable
devices such as mobile phones, tablets, and laptops.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
A first-of-its-kind Eastern Ghats Nature Interpretation Centre in Visakhapatnam
● The first-of-its-kind, Nature Interpretation Centre at the Eastern Ghats Biodiversity Centre along
the periphery of the Kambalakonda Wildlife Sanctuary in Visakhapatnam was inaugurated.
● It is located in the state of Andhra Pradesh.
● It is named after the local hillock "Kambalakonda" acting as a green lung for citizens of
Vizianagaram, is this large and sprawling sanctuary.
Uttarakhand Government Introduces India's First Himalayan AirSafari with Gyrocopters to Revolutionize
Tourism
● The Uttarakhand government is set to transform tourism by launching India's first-ever Himalayan
AirSafari using gyrocopters, compact and agile aircraft.
.
● The first trial flight of gyrocopters was successfully conducted at Bairagi Camp, Haridwar,
marking a significant milestone in the initiative.
● The Uttarakhand Tourism Development Board is collaborating with Rajas Aerosports and
Adventures Pvt Ltd to introduce gyrocopters as an innovative way for tourists to explore the
state's picturesque landscapes.
● Germany-supplied state-of-the-art gyrocopters have been procured for the Himalayan Air Safari
initiative.
● The gyrocopters will be part of the innovative Himalayan Air Safari scheme, which is aligned with
the Breakfast Tourism initiative introduced by the department.
About Uttarakhand:
● Capital: Dehradun
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji
National Park, Jim Corbett National Park
Madhya Pradesh Government to Establish Prime Minister College of Excellence in Every District across
the State
● Madhya Pradesh (MP) government will set up PM College of Excellence in all districts of the
state.
● One college in every district out of a total of 570 government colleges will be upgraded by the MP
government as "PM College of Excellence".
● Financial Allocation : The government will spend more than Rs 460 crore on the development of
these colleges.
● Digital Documentation in Education : In addition to this, the degree and mark sheets of students
in all government and private universities will be uploaded in DigiLocker.
● Tendu Leaf Collection Rate Increase : The tendu leaf collection rate has been increased by the
government from Rs 3,000 per bag to Rs 4,000 per bag.
● Cyber-Tehsil System Implementation : In MP, the Council of Ministers has also decided to
implement a cyber-tehsil system in all the districts.
● Ban on Illegal Use of Loudspeakers : It has also decided to implement a ban on the illegal use of
loudspeakers at religious and other places.
.
About MP :
● Governor: Mangubhai C. Patel
● Chief Minister: Mohan Yadav
● Capital: Bhopal
● National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park
● Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary
PM to launch several development projects worth over 15 thousand crore rupees at Ayodhya, UP
● Prime Minister Narendra Modi will visit Ayodhya in Uttar Pradesh and launch multiple
development projects worth over 15,000 crore rupees in the state.
● Mr Modi will inaugurate the redeveloped Ayodhya Railway Station named as Ayodhya Dham
Junction Railway Station and flag off new Amrit Bharat trains and Vande Bharat trains. He will
also dedicate several other railway projects to the nation.
● The Prime Minister will inaugurate the newly built Ayodhya Airport. Mr Modi will also participate in
a public programme where he will inaugurate, delicate to the nation and lay the foundation stone
of multiple development projects worth more than 15,700 crore rupees in the state.
● These include projects worth about 11,100 crore rupees for development of Ayodhya and its
surrounding areas and projects worth about 4600 crore rupees related to other projects across
Uttar Pradesh.
About Uttar Pradesh:
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
● National Park : Dudhwa National Park, National Chambal Sanctuary, Sariska National Park
● Wildlife Sanctuary : Bakhira Wildlife Sanctuary Bakhira Wildlife Sanctuary, Chandraprabha
Wildlife Sanctuary, Dr Bhimrao Ambedkar Bird wildlife Sanctuary, Hastinapur Wildlife
Sanctuary
12th DIVYA KALA MELA-2023 to be inaugurated in Surat, Gujarat

● Department of Empowerment of Persons with Disabilities (Divyangjan) {DEPwD), MoSJ&E, GoI
through National Divyangjan Finance and Development Corporation (NDFDC, an apex
corporation under (DEPwD) is organizing a unique event showcasing the products and
.
craftsmanship of Divyang entrepreneurs/artisans from across the country, ‘Divya Kala Mela’ from
29th December 2023 – 7th January 2024 in Surat, Gujrat.
● The event would present an enthralling experience to the visitors as vibrant products from
various parts of the country including Jammu and Kashmir, North Eastern states, handicrafts,
handlooms, embroidery works and packaged food etc. will be seen together.
● This is a unique initiative towards the economic empowerment of PwD/Divyangjan.
● The Divya Kala Mela presents a bigger platform for marketing and showcasing the products and
skills of Divyangjan (PwD).
● The Divya Kala Mela, Surat is the 12th one in series starting from 2022.
● Around 100 Divyang artisans/artists and entrepreneurs from about 20 states/UTs will be
displaying their products and skills.
● It will be an opportunity for all to go ‘vocal for local’ and products made by Divyang craftsmen
with their extra determination can be seen/purchased.
About Gujarat:
● Governor : Acharya Devvrat
● Chief Minister : Bhupendrabhai Patel
● Capital : Gandhinagar
● National Park : Marine National Park, Vansda National Park, Bhavnagar Blackbuck National
Park, Gir National Park
● Wildlife Sanctuary : Shoolpaneshwar Wildlife Sanctuary, Kutch Desert Wildlife Sanctuary, Purna
Wildlife Sanctuary, Jambughoda Wildlife Sanctuary, Pania Wildlife Sanctuary
J&K Panchayati Raj Act amended to incorporate OBC reservation

● The Jammu and Kashmir administration has amended the Union Territory's Panchayati Raj Act
to incorporate reservation for Other Backward Classes (OBC), an official spokesperson stated.
● Earlier, the draft Jammu and Kashmir Panchayati Raj (Amendment) Bill, 2023 was submitted to
the Union Ministry of Home Affairs (MHA).
● The amendment bill proposes the incorporation of the definition of the OBC for providing
reservation to them, explaining the method of disqualification from the membership of a Halqa
Panchayat and suspension and removal of a sarpanch, naib-sarpanch and panch by the
government, the spokesperson stated.
.
● He added that the bill also defines the process for removal and conditions of service of the state
election commissioner (SEC) here.
About Jammu & Kashmir:
● Governor : Manoj Sinha
● Capital : Srinagar (May–October) · Jammu (November–April)
● National Park : Hemis National Park, Dachigam National Park, Kazinag National Park,
Kishtwar National Park, Salim Ali National Park
BUSINESS NEWS
Historic sale of Khadi and village industry products worth Rs 15.03 crore in India International Trade
Fair-2023
• Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises,
participated in the 42nd India International Trade Fair (IITF) – 2023 held at Pragati Maidan, New
Delhi from 14 to 27 November, 2023.
• In this international trade fair that lasted for 14 days, Khadi lovers made huge purchases in the
'Khadi Pavilion' set up in Hall No. 3.
• For the first time in the history of the KVIC, the sales figure of Khadi and village industry products
at IITF cross Historic sale of Khadi and village industry products worth Rs 15.03 crore in India
International Trade Fair-2023.
Coal production from commercial coal mines remain around 12 million tonnes in November 2023
• The Coal production from commercial coal mines remained around 12 million tonnes in November
this year, with a growth of 37 per cent compared to last year.
• Union Coal Ministry, the average daily coal dispatch from such mines is also the highest ever with
4.3 lakh tonnes per day.
• Coal production and dispatch from captive and commercial coal blocks has shown a remarkable
growth during April to November this year.
• The total coal production from these commercial coal mines during the same period was around 83
million tonnes, while the total coal dispatch was over 89 million tonnes.
GST revenue collection for November stands at around Rs 1.68 lakh crore
• The gross Goods and Services Tax, GST revenue collection in the month of November this year
stood at around one lakh 68 thousand crore rupees.
.
• The revenue for the month of November is 15 per cent higher than the GST revenue in the same
month of last year and the highest for any month year-on-year during this financial year.
India's foreign exchange reserves increase by 2.538 billion US dollar to 597.935 billion US dollar
• The Reserve Bank of India (RBI), India's foreign exchange reserves increased by 2.538 billion US
dollar to 597.935 billion US dollar for the week ended 24th November.
• In the previous reporting week, the overall reserves had jumped 5.077 billion US dollar to 595.397
billion US dollar.
• reserves, increased by 2.14 billion US dollar to 528.531 billion US dollar.
• The apex bank Gold reserves were up 296 million US dollar to 46.338 billion US dollar during the
week.
• The Special Drawing Rights (SDRs) were up 87 million US dollars to 18.218 billion US dollars.
LIC stock crosses ₹700 mark after 11 months
• Following a subdued performance post listing, LIC shares experienced a notable upswing in
November, concluding with a substantial gain of 12.83%, marking the most significant monthly
increase for the stock since its debut in May 2022.
• In the previous trading session, the stock crossed the ₹700 mark after 11 months, finishing the
trade at ₹719.
• At current levels, the stock is just 4.9% away from its 52-week high of ₹754.20 apiece.
• The surge in momentum is attributed to the anticipation surrounding its new non-par product,
'Jeevan Utsav,' translating to the "celebration of life."
• LIC has introduced a new non-par product, LIC Jeevan Utsav, featuring a combination of limited
pay (5–16 years) with lifelong income.
Bharti Airtel becomes the 8th company to surpass ₹6 lakh crore Mcap
• The full market capitalisation of Bharti Airtel (partly plus fully paid-up) hit ₹6 lakh crore for the first
time on Mcap.
• Share of Bharti Airtel added another 2%, taking their year-to-date gain to 28%. In contrast, the
benchmark Nifty has gained 14.3% during the same period.
• The stock has been generating positive returns for the last five years, with 2019 being the highest.
• After a close to 60% surge in 2019, the stock of Bharti Airtel gained 12% and 37%, respectively in 2020
and 2021.
About Mcap:
.
• Market capitalization refers to the total dollar market value of a company's outstanding shares of
stock.
• The investment community uses this figure to determine a company's size instead of sales or total
asset figures.
Bulls take BSE market cap to new high of $4.03 trillion

• The market capitalisation of all BSE-listed companies hitting a new high of $4.03 trillion, aided by
positive signals from the global markets and a fall in crude oil prices.
• This makes India one of the few countries with a market cap in excess of its gross domestic
product.
• The journey from $3 trillion to $4 trillion took two-and-a-half years.
• The bellwether Sensex gained 728 points to 66,902 points, with foreign portfolio investors pumping
in ₹1,786 crore.
• The Nifty was up 207 points to 20,096 points as the buying spree by both domestic and foreign
investors continued.
India’s Retail Inflation 5.55 per cent in November 2023
• The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation
(MoSPI) is releasing the All India Consumer Price Index (CPI) on Base 2012=100 and the
corresponding Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C).
• CPIs for Subgroups and Groups for both All India and all States/UTs are also being released.
• The price data are collected from selected 1114 urban Markets and 1181 villages covering all
States/UTs through personal visits by field staff of the Field Operations Division of NSO, MoSPI on
a weekly roster.
• During November 2023, NSO collected prices from 99.9% villages and 98.6% urban markets while
the market-wise prices reported therein were 90.0% for rural and 92.2% for urban.
India's IIP Growth Rate Rises to 16-Month High of 11.7% in October 2023
• The Quick Estimates of Index of Industrial Production (IIP) are released on the 12th of every month
(or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received
from source agencies, which in turn receive the data from the producing factories/ establishments.
• For the month of October 2023, the Quick Estimates of Index of Industrial Production (IIP) with
base 2011-12 stands at 144.7.
.
• The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for
October 2023 stand at 127.4, 141.8 and 203.8 respectively.
• These Quick Estimates will undergo revision in subsequent releases as per the revision policy of
IIP.
India’s overall exports in November 2023 is estimated at USD 62.58 Billion; an increase of 1.23 percent
over USD 61.82 Billion in November 2022
● India’s overall exports (Merchandise and Services combined) in November 2023* are estimated to
be USD 62.58 Billion, exhibiting a positive growth of 1.23 per cent over November 2022.
● Overall imports in November 2023* is estimated to be USD 67.88 Billion, exhibiting a negative
growth of (-) 6.16 per cent over November 2022.
● India’s overall exports (Merchandise and Services combined) in April-November 2023* are
estimated to be USD 499.46 Billion, exhibiting a negative growth of (-) 1.39 per cent over April-
November 2022.
Retail inflation rises to 5.55% in November
● Retail inflation increased to the three-month high level of 5.55% in November 2023, mostly due to
increasing food prices.
● October saw 4.87 per cent retail inflation based on the Consumer Price Index (CPI).
● After reaching 6.83 percent in August, inflation has been decreasing.
● Inflation in rural areas was higher at 5.85% than price increases in urban areas (5.3%).
● The National Statistical Office calculates inflation rates for 22 major States, and in November,
Odisha had the highest rate of 7.65%, followed by Rajasthan at 7% and Haryana at 6.8%.
FY 2023-24 Sees 17% Surge in Gross Direct Tax Collections
● The Ministry of Finance, that the Gross Direct Tax collections for the Financial Year 2023-24 have
registered a growth of over 17 per cent.
● The Gross Collection of Direct Taxes for the Financial year 2023-24 before adjusting refunds,
stands at over 15 lakh 95 thousand crore rupees as compared to 13 lakh 63 thousand crore in the
corresponding period of 2022-23.
● Direct Tax collections for the year 2023-24 up to the 17th of this month, show that net collections
are at 13 lakh 70 thousand crore rupees as compared to 11 lakh 35 thousand crore rupees in the
corresponding period of last Fiscal.
● It represents an increase of 20.66 percent.
.
India’s trade deficit shrinks to $20.58 billion in November, imports fall by 4.3%
• Trade deficit for November 2023 declined to $20.58 billion from the all-time high level of $31.5 billion
in October 2023.
• India’s goods exports declined by 2.83% in November to $33.9 billion. Imports declined by 4.33% to
$54.48 billion.
• The trade deficit for the period April–November 2023 was $166.35 billion compared with $189.21
billion during April–November 2022.
• India’s top merchandise export destinations during April-November 2023 were the US, the UAE, the
Netherlands, China, the UK, Singapore, Saudi Arabia, and Bangladesh.
• Top import sources were China, Russia, the US, the UAE, Saudi Arabia and Iraq, according to
official data.
India's logistics cost declined to 7.8-8.9% of GDP in FY22: NCAER
• The National Council of Applied Economic Research (NCAER) has made a secondary data-based
estimate of logistics cost in India.
• As per the estimate, logistics cost in India was 7.8% to 8.9% of GDP in 2021-22.
• The estimate was part of a report on the assessment of logistics costs in India by the Department for
Promotion of Industry and Internal Trade (DPIIT).
• DPIIT Secretary Rajesh Kumar released the report on logistics cost in
• India on 14 December 2023.
• It also presents a framework for long-term logistics cost calculation.
• The government had released a National Logistics Policy. It aimed at reducing logistics cost to below
10% (of GDP).
• It also aimed to improve India’s ranking in the World Bank’s Logistics Performance Index (LPI) from
38th at present to below 25.
• ADB, partnered the DPIIT in the workshop on logistics costs.
India's imports of thermal coal from the US reached a two-year high.

● Inbound shipments of thermal coal from the US increased to 1.40 million tonnes (MT), highest in
over a year.
● According to Kpler (an energy intelligence firm), India imported a total of 17.51 MT of thermal coal in
November 2023.
● This was lower than 15-month high of 18.66 MT recorded in October 2023.
.
● India imported 23.27 MT of seaborne coal in November 2023.

● ]As of October 2023, US is India’s second biggest supplier of coking coal after Australia. Russia is
the third biggest supplier.
● During April–October 2023, Australia remained the largest supplier of coking coal with 20.17 MT.
Coal Production Touches 664.37 Million Tonne during FY 2023-24 up to 25th December
● As per the latest statistics of the Ministry of Coal, the cumulative achievement in coal production
during FY’ 2023-24 from April 2023 to 25th December 2023, has touched 664.37 million tonne (MT),
indicating a substantial 12.29% growth compared to the corresponding period last year at 591.64
MT.
● In terms of coal dispatch, the Cumulative achievement in FY’ 2023-24 from April 2023 to 25th
December 2023 amounted to 692.84 MT, indicating a noteworthy 11.32% growth compared to the
corresponding period of the previous year at 622.40 MT.
● This increase ensures a consistent and robust coal supply to meet the energy needs of the power
sector.
● Overall coal stock position, including mines, thermal power plants (DCB), transit, etc., reached 91.05
MT, showing a commendable 21.57% growth from 74.90 MT on 25.12.22.
● Additionally, Pithead Coal Stock at Coal India Limited (CIL) on 25.12.23 stands at 47.29 MT,
demonstrating a notable growth of 53.02% compared to the coal stock of 30.88 MT on 25.12.22.
● With a commitment to continuous and comprehensive monitoring and evaluation of all operations,
the Ministry of Coal significantly contributes to this impressive growth.
● The Ministry remains unwavering in its dedication to ensuring a reliable and uninterrupted power
supply by embracing cutting-edge technological advancements, thus paving the way for a self-
reliant Atmanirbhar Bharat.
India's e-retail market estimated to cross USD 160 billion by 2028
● E-retail in India is expected to surge past USD 160 billion (over Rs 13 lakh crore) mark by 2028, a
report released by Bain & Company in collaboration with Flipkart.
● The E-retail market is expected to be around USD 57-USD 60 billion (Rs 4.75 lakh crore to 5 lakh
crore) in 2023, with an annual shopper base of around 240 million representing an annual addition of
USD 8-12 billion in 2020.
● According to the report, the majority of India's retail spend (94-95 per cent) continues to be offline,
with general trade accounting for 87 per cent of the overall retail spend.
.
● More than half of the total seller base hails from 7 cities, namely Delhi NCR, Surat, Jaipur, Mumbai,
Bengaluru, Hyderabad, and Kolkata
BANKING AND ECONOMY

India Records Near 5-Year High Banking Liquidity Deficit
• India's banking system liquidity deficit has widened to the highest in nearly 5 years on monthly
goods and services tax payments.
• The liquidity deficit is the amount of funds banks need to borrow from the interbank market or from
the central bank.
• Liquidity in the banking system refers to readily available cash that banks need to meet short-term
business and financial needs.
• According to the Reserve Bank of India (RBI), the liquidity deficit stood at Rs 1.74 lakh crore
($20.90 billion).
RBI and Bank of England Ink MoU for Collaboration and Information Sharing on CCIL
• The Reserve Bank of India (RBI) and the Bank of England (BoE) signed a Memorandum of
Understanding (MoU) for cooperation and information exchange regarding the Clearing
Corporation of India Ltd. (CCIL).
• Objective of the MoU : To encourage the European Securities and Markets Authority (ESMA) to
reconsider recognizing at least one of the Indian central counterparties (CCPs).
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar
SEBI Grants Approval to Jana Small Finance Bank for IPO

• Jana Small Finance Bank, backed by TPG Capital, has received approval from the Securities &
Exchange Board of India (SEBI) for its initial public offering (IPO).
• The IPO comprises a fresh issue of equity shares worth Rs 575 crore with a face value of Rs 10
each.
• Additionally, there is an offer for sale of up to 4.05 million shares by existing shareholders and
promoters.
.
• Jana Small Finance Bank, upon successful listing, will become the 7th small finance bank (SFB) to
be listed on the stock exchange.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
About Jana Small Finance Bank :
• Commenced operations : March 28, 2018
• Headquarters : Bangalore, India
• CEO: Ajay Kanwal.
Amazon Pay Introduces Video KYC Service in Sign Language for Customers with Hearing and Speech
Impairments
• Amazon Pay has launched a video sign language Know Your Customer (KYC) service for hearing
and speech impaired customers, which involves communication through sign languages, a
pioneering initiative in the digital payments sector in India.
• The company has rolled out the initiative that enables two-way video communication in sign-
language between Amazon Pay employees and customers.
• The goal is to make the KYC process effortless for those who rely on sign language, and making
digital payments more inclusive.
About Amazon Pay :
• Founded : 2007
• Headquarters : Seattle, Washington, United States
• Amazon Pay is an online payments processing service owned by Amazon.
RBI Allows Banks to Open Current Accounts for Export Proceeds Alongside Special Rupee Vostro
Accounts
• The Reserve Bank of India (RBI) permitted banks to open additional current accounts for export
proceeds in addition to special rupee vostro accounts with a view to provide greater operational
flexibility to exporters.
.
• To provide greater operational flexibility to exporters, banks maintaining a special rupee vostro
account as per the provisions of the RBI circular dated July 11, 2022 are permitted to open an
additional special current account for its exporter constituent exclusively for settlement of their
export transactions.
• In July 2022, the RBI had asked banks to put in place additional arrangements for export and
import transactions in Indian rupees in view of increasing interest of the global trading community
in the domestic currency.
About RBI :
Private general insurers expand market share to 53.58% in H1 FY24

• Private general insurers increased their combined market share to 53.58% in gross direct premium
underwritten in the first half of the current financial year from 50.81% in the year-ago period.
• As many as 31 insurers from the non-life industry had underwritten gross direct premiums of Rs
1.43 lakh crore in the first half of the current financial year, according to data on segment-wise
gross direct premiums up to September 2023 released by Insurance Regulatory and Development
Authority of India (IRDAI).
• Private insurers registered an annual increase of 14.86% in gross direct premiums.
• The non-life industry recorded a gross direct premium (GDP) of Rs 1,25,194 crore in the April-
September period of the previous financial year (2022-23).
Mutual Funds Allocate ₹3,000 Crore for Debt Fund Backstop Facility
• Mutual funds have set aside ₹3,100 crore as part of the Corporate Debt Market Development Fund
(CDMDF) created by the capital market regulator Securities and Exchange Board of India (SEBI)
as a backstop arrangement to bailout specified debt schemes in times of crisis in the market.
• SBI Mutual Fund will manage the funds deposited by mutual funds for the CDMDF.
• Contributions by Asset Management Companies : Asset management companies will make a one-
time contribution equivalent to 2 basis points (bps) of the Assets Under Management (AUM) of
specified debt-oriented schemes.
.
• Basis for Initial Contribution : The initial contribution will be based on the AUM of specified mutual
fund schemes as of December 31, 2022.
• Background and Rationale : The decision to establish a backstop facility was prompted by market
crises, including the defaults by IL&FS and DHFL, as well as the abrupt closure of six debt mutual
fund schemes by Franklin Templeton during the Covid pandemic.
What is the Corporate Debt Market Development Fund (CDMDF)?

• CDMDF is an alternative investment fund designed to address the requirements of the corporate
debt market in India.
• It will be launched as a close-ended scheme, indicating a fixed tenure for its operation.
• CDMDF serves as a backstop facility specifically for investment-grade corporate debt securities.
• Its primary function is to provide stability and boost investor confidence in the corporate debt
market
• CDMDF provides a backstop facility of Rs 33,000 crore has been established for Mutual Funds.
RBI Grants Approval for CSB Bank Promoter to Maintain 26% Stake in the Lender
• The promoter of CSB Bank erstwhile Catholic Syrian Bank Limited in India has obtained approval
from the Reserve Bank of India (RBI) to maintain a 26% stake in the bank.
• Initially advised by the RBI to reduce their stake to 15%, the promoter has now been allowed to
retain a higher stake of 26%.
About CSB Bank :
• Founded : 26 November 1920
• Headquarters : Thrissur, Kerala, India
• MD & CEO : Pralay Mondal
Insurance Ombudsman Resolves 92% of Complaints in FY23

• The insurance ombudsman disposed of over 92% of the complaints it received from the insured
during 2022-23.
• It received 55,946 complaints during the year across its offices in the country, of which 51,625
were disposed of.
• The Delhi centre disposed of all the 5,257 complaints it got during the year, according to a press
statement issued by the Delhi office of the Insurance Ombudsman.
.
• The offices of the Insurance Ombudsman are under the administrative control of the Council for
Insurance Ombudsman (CIO).
Global bank ranking removes Unicredit and moves up UBS, China banks
• The Financial Stability Board removed Italy's UniCredit from its list of Global Systemically
Important Banks (G-SIBs) and moved 3 banks up a category.
• The identification process for G-SIBs involves collaboration between the Financial Stability Board
(FSB), the Basel Committee on Banking Supervision (BCBS), and national authorities.
• The Financial Stability Board (FSB) is an international body that monitors and makes
recommendations about the global financial system.
To promote international financial stability by coordinating with national financial authorities and
international standard-setting bodies.
• Its decisions are not legally binding on its members, as it operates by moral suasion and peer
pressure, in order to set internationally agreed policies and minimum standards.
BharatPe Achieves Ebitda Positivity for the First Time in October, Achieves Annual Recurring Revenue
(ARR) of Rs 1,500 Crore
• Fintech major BharatPe turned Ebitda-positive in October and clocked an annualised revenue of
Rs 1,500 crore, up 31% from the year-ago period, on the back of a significant growth in lending
and payments business.
• The company also reduced its cash burn, which was averaging Rs 60 crore a month in FY23, to
attain a positive Ebitda.
• EBITDA, or earnings before interest, taxes, depreciation, and amortization, is an alternative
measure of a company's overall financial performance.
About BharatPe :
• Founded : 2018
• Headquarters : New Delhi, Delhi, India
• CEO: Nalin Negi
• BharatPe is an Indian fintech company that sells digital payment and financial services to small
merchants and Grocery stores
Tata AIG General Insurance Company Launches 'Health Supercharge' for Comprehensive Well-being
.
Coverage
• TATA AIG General Insurance Company Limited introduced “Health Supercharge" with the aim of
offering a fivefold enhancement in health insurance coverage, addressing the dynamic nature of
health-related uncertainties.
• The new plan caters to the healthcare needs of families residing in Tier I to Tier IV locations,
ensuring inclusivity across various geographical segments.
• Tata AIG Health Supercharge offers a sum insured ranging from ₹5 lakhs to ₹20 lakhs.
About TATA AIG General Insurance Company :
• Established : 2001
• MD & CEO : Neelesh Garg
• Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint
venture between the Tata Group and American International Group (AIG).
• Tata Group holds a 74% stake in the insurance venture with AIG holding the balance of 26%.
LIC Launches New Whole Life Insurance Policy 'Jeevan Utsav

• Life Insurance Corporation of India (LIC), has launched a new individual, savings, and Whole Life
Insurance plan called Jeevan Utsav.
• The Plan is a Non-Linked, Non-Participating Plan.
• Consider the following points before opting for the policy.
• Policy Eligibility : This plan is available for age starting from 90 days to 65 years.
• It gives guaranteed lifelong income and lifelong risk cover.
• Premium Payment Terms : The minimum premium paying term is 5 years and the maximum
premium paying term is 16 years
About LIC :
• Chairman : Siddharth Mohanty
ADB Approves $500 Million Loan for Healthcare and Medical Education in Maharashtra
.
• The Asian Development Bank (ADB) has approved a loan package worth USD 500 million to
improve access to quality and affordable tertiary health care and medical education in
Maharashtra, India.
• ADB has been working with the state government of Maharashtra to achieve its vision of providing
affordable and accessible tertiary health care to all by 2030 and strengthening quality and
professional medical practitioners.
About ADB :
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and
19 non-regional members (countries outside the region)
Asian Development Bank Commits USD 170 Million to Transform Kochi's Water Landscape
• The Asian Development Bank (ADB) has approved a significant loan of USD 170 million for the
modernization of water supply services in Kochi, Kerala.
• Objective of the Loan : To modernize water supply services, elevate urban living standards, ensure
access to clean water, and enhance climate resilience in Kochi.
• ADB's intervention is particularly crucial due to Kerala experiencing severe dry spells and
droughts, notably in 2016, which significantly impacted water availability in the region.
• The ambitious project involves the rehabilitation and upgrade of 5 existing water treatment plants.
• The project will rehabilitate and upgrade five existing water treatment plants that have a cumulative
production capacity of 325 million litres per day (MLD), as well as build a new plant with 190 MLD
capacity.
S&P Global Study: LIC Ranks as the Fourth-Largest Insurer Globally by Reserves
• Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the
world, according to a ranking based on life and accident & health reserves of companies in 2022
by S&P Global Market Intelligence.
• LIC follows Allianz SE, China Life Insurance Company, and Nippon Life Insurance Company in
global rankings.
.
• According to the report, LIC’s reserves stood at $503.7 billion.

• Germany’s Allianz SE ($750.20 billion), China Life Insurance Company ($616.90 billion) and
Nippon Life Insurance Company ($536.80 billion) are the top three insurance companies in the
world.
About LIC:
• Established: 1st September 1956
• MD: Siddhartha Mohanty
• Headquarters: Mumbai, India
SBI Card joins Bharat BillPay in the credit card category
• NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of the National Payments
Corporation of India (NPCI), announced that it has on-boarded SBI Card, under the credit card
category of Bharat BillPay.
• Aim : To simplify the way customers manage their credit card bill payments by providing them
better convenience and accessibility.
• The other major credit card issuers under this category are Kotak Mahindra Bank, BoB Financial,
Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank.
About NPCI :
• National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella
organisation for operating retail payments and settlement systems in India.
• MD & CEO : Dilip Asbe
• It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.
RBI Monetary Policy : Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%
• The Reserve Bank of India's Monetary Policy Committee (MPC) kept the repo rate unchanged for
the fifth time in a row at 6.5%.
• The real GDP growth projection for the fiscal year 2023-24 has been revised upward to 7% from
the previous estimate of 6.5%.
• The inflation forecast for the fiscal year 2023-24 remains unchanged at 5.4%.
• The policy repo rate under the liquidity adjustment facility (LAF) has been kept steady at 6.50%.
.
• The standing deposit facility (SDF) rate is maintained at 6.25%, and the marginal standing facility
(MSF) rate, along with the Bank Rate, remains at 6.75%.
About RBI :
RBI Increases UPI Payment Limits for Hospitals and Educational Institutions to Rs 5 Lakhs per
Transaction, Up from Rs 1 Lakh
• The Reserve Bank of India (RBI) has increased the transaction limits for United Payments
Interface (UPI) payments for hospitals and educational institutions from Rs 1 lakh to Rs 5 lakhs per
transaction.
• The decision was announced by RBI Governor Shaktikanta Das during the bi-monthly Monetary
Policy Committee (MPC) meeting.
• The higher UPI payment limits aim to assist consumers in making transactions of larger amounts
for educational and healthcare purposes.
• The RBI has also proposed to enhance the limits of e-mandates for recurring online transactions to
Rs 1 lakh per transaction from Rs 15,000 per transaction for mutual fund subscriptions, insurance
premium subscriptions, and credit card repayments.
• The transaction limit for UPI payments for capital markets (AMC, broking, mutual funds, etc.),
collections (credit card payments, loan repayments, EMI), insurance, etc. was limited to Rs 2 lakh.
RBI to Develop Regulatory Framework for Oversight of Loan Aggregators

• The Reserve Bank of India (RBI) announced that it will soon release a regulatory framework aimed
at overseeing web-based loan comparison platforms known as web-aggregators of loan products
(WALP).
• WALP offers the service of aggregating loan offers from multiple lenders on an electronic platform
which allows borrowers to easily compare different offers and choose the most suitable loan option
available from the participating lenders.
• Objective of the Framework : The RBI aims to create a structured system for loan aggregation
services provided by lending service providers (LSPs).
.
• The framework aims to enhance transparency in the operations of WALPs or digital lending.
• It focuses on increasing customer centricity and enabling borrowers to make informed choices.
RBI Announces Plans to Set Up Cloud Facility for the Financial Sector to Strengthen Data Security
• The Reserve Bank of India (RBI) is actively working on establishing a dedicated cloud facility for
the financial sector in India
• The primary objective of the proposed cloud facility is to significantly enhance the security,
integrity, and privacy of data within the financial sector.
• The cloud facility will be set up and initially operated by Indian Financial Technology & Allied
Services (IFTAS), a wholly-owned subsidiary of RBI.
• Over time, the cloud facility will be transitioned to a separate entity, with ownership vested in
financial sector participants.
RBI Permits Reversal of Liquidity Facilities under Standing Deposit Facility and Marginal Standing
Facility on Weekends and Holidays
• The Reserve Bank of India (RBI) has decided to allow the reversal of liquidity facilities under both
SDF (standing deposit facility) and MSF (marginal standing facility) even during weekends and
holidays with effect from December 30, 2023, to address the situation arising out of simultaneous
high utilisation of both these facilities by banks .
• This move is expected to facilitate better fund management by the banks
• At present, the standing facilities of the Reserve Bank under the LAF (liquidity adjustment facility) –
the SDF and the MSF – can be availed from 17:30 hours to 23:59 hours on all days including
weekends and holidays.
DICGC report: Banks witness drop in insured deposits

• The ratio of insured deposits to assessable deposits in the banking system declined to 46.31% in
FY2023 from 49% in FY2022 as customers, lured by attractive deposit rates, placed larger
deposits (over and above the Rs 5 lakh deposit insurance cover) with banks, going by latest
Deposit Insurance and Credit Guarantee Corporation (DICGC) data.
• This means that bank customers preferred to place larger quantum (Rs 5 lakh and above) of
deposits (accounting for 53.69% of the deposits by value), which remained uninsured.
• In the preceding year, 51% of the deposits were uninsured.
• Deposit insurance cover is available on deposits up to Rs 5 lakh.
.
About DICGC :
• Founded: 1978
• Headquarters: Mumbai,Maharashtra, India
• Chairperson: Michael Patra
• Deposit Insurance and Credit Guarantee Corporation is a specialised division of Reserve Bank of
India which is under the jurisdiction of Ministry of Finance, Government of India.
Aditya Birla Health Launches 'Activ One' Product Offering 100% Returns
• Aditya Birla Health Insurance Company Limited (ABHICL), the health insurance division of Aditya
Birla Capital, a prominent and diversified financial services provider in India, has introduced ‘Activ
One.’
• This streamlined and all-encompassing health insurance plan is designed to offer policyholders
personalised solutions, addressing not only their health insurance requirements but also fostering
their journey towards optimal well-being.
• Packed with cutting-edge features like complete health returns, claim protection, no sub-limits,
super reload, and super credit, Activ One stands as ABHICL’s most extensive offering to date.
• This all-inclusive product provides customers with a singular solution for both their health
assurance and health insurance requirements.
28 Virtual Digital Asset Platforms Successfully Register with FIU-India to Ensure Compliance with
PMLA Norms
• As many as 28 Virtual Digital Assets (VDA) service providers, including WazirX, Coin DCX and
Coin Switch, have registered themselves with the Financial Intelligence Unit-India (FIU-IND).
• The Finance Ministry in March, 2023 had stated that entities dealing in VDAs, crypto
exchanges and intermediaries would be considered "reporting entities" under the Prevention of
money laundering Act (PMLA).
• Accordingly, crypto exchanges and intermediaries dealing with VDAs were required to perform
KYC of their clients and users of the platform.
• 28 entities have registered themselves for providing services related to VDAs.
Asian Infrastructure Investment Bank and United Nations Development Programme Ink Memorandum
.
of Understanding to Advance Sustainable Infrastructure Development

• The Asian Infrastructure Investment Bank (AIIB) and the United Nations Development Programme
(UNDP) have signed a Memorandum of Understanding (MoU) to strengthen collaboration in
promoting sustainable infrastructure development and address development challenges in Asia
and beyond.
• AIIB is a multilateral development bank whose mission is financing the “Infrastructure for
Tomorrow,” infrastructure that is inclusive and sustainable socially, environmentally and
economically.
• UNDP partners with people at all levels of society to help build nations that can withstand crises,
and drive and sustain the kind of growth that improves the quality of life for everyone.
About AIIB :
• Founded : 16 January 2016
• Headquarters : Beijing, China
• President : Jin Liqun
• Membership : 109 member states
• The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission
is financing the Infrastructure for Tomorrow infrastructure with sustainability at its core.
About UNDP :
• Established: 22 November 1965
• Headquarters: New York, United States
• Administrator : Achim Steiner
• The UNDP is a United Nations agency tasked with helping countries eliminate poverty and achieve
sustainable economic growth and human development.
• It was founded with the merging of the United Nations Expanded Programme of Technical
Assistance (EPTA) and the Special Fund.
SEBI Extends Deadline for Integration of SCORES with Online Dispute Resolution Platform to April 1,
2024
• The Securities and Exchange Board of India (SEBI) has extended the timeline for implementation
of linking SEBI Complaint Redressal (SCORES) with the online dispute resolution platform to April
1, 2024.
• Earlier, the deadline for linking both the platforms was December 4, 2023.
.
• The market entities need to keep submitting the Action Taken Report (ATR) on
SCORES within 21 calendar days from the date of receipt of the complaint.
• In September,2023 the capital market regulator had issued a circular saying that market entities
will need to apply for SCORES authentication and for Application Programming Interface (API)
integration.
About SEBI :
• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
the Ministry of Finance, Government of India (GoI).
UPI Transaction Value Hits Record ₹17.4 Lakh Crore in November 2023
• Unified Payments Interface (UPI) transaction value reached a new high level at ₹17.4 lakh crore in
November 2023.
• UPI transaction volume declined slightly to 1,124 crore from 1,141 crore in October.
• UPI transaction value was ₹17.16 lakh crore in October.
• UPI transactions fell slightly by 1.5% to 1,124 crore from 1,141 crore in October.
About UPI :
• Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
• It is developed by the National Payments Corporation of India (NPCI).
• It was introduced in April 2016.
Ministry of Finance Reports Banks Writing Off ₹10.6 Lakh Crore in the Last 5 Years
• The government informed the Lok Sabha that in the last five years, Scheduled Commercial Banks
(SCBs) wrote off nearly Rs 10.6 lakh crore, with almost half of this amount belonging to large
industrial houses.
• Half of the written-off amount, approximately 50%, is attributed to large industrial houses.
• Defaulted Borrowers and Outstanding Amount : Nearly 2300 borrowers, categorised as wilful
defaulters, defaulted on around Rs 2 lakh crore.
.
• These borrowers are having a loan amount of Rs 5 crore or more.
ICICI Lombard Unveils MaxProtect, the Newest Addition to its Customer-Centric Product Portfolio
• ICICI Lombard has introduced MaxProtect, the latest addition to its range of customer-focused
products.
• Tailored to align with the dynamic lifestyles of customers, MaxProtect aims to deliver
comprehensive coverage at a competitive price.
• This product is designed to provide a cost-effective, inflation-adjusted solution to address the
healthcare requirements of both individuals and families.
• MaxProtect offers a choice between two customer-centric insurance plans.
About ICICI Lombard General Insurance Company Limited :
• Founded : 2001
• MD & CEO : Sanjeev Mantri
Government of India and Asian Development Bank sign $175 million loan to improve connectivity in
Madhya Pradesh
• The Government of India and the Asian Development Bank (ADB) signed a $175 million loan to
improve connectivity and resilience of roads in the state of Madhya Pradesh.
• The signatories to the loan agreement for the Enhancing Connectivity and Resilience of the
Madhya Pradesh Road Network Project were Ms. Juhi Mukherjee, Joint Secretary, Department of
Economic Affairs, in the Ministry of Finance, for the Government of India, and Takeo Konishi,
Country Director of ADB’s India Resident Mission, for ADB.
• This project will enhance connectivity in the state road network in 14 districts to enable balanced
economic development in Madhya Pradesh.
About Ministry of Finance :
• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad, Pankaj Choudhar
About ADB :
.
ADB Grants $98 Million Loan to Enhance Access to Disease-Free Planting Materials for Horticulture
Crop Farmers in India
• The Asian Development Bank (ADB) has approved a $98 million loan to improve horticulture crop
farmers’ access to certified disease-free planting materials, which will boost their crops’ yield,
quality, and resilience to climate impacts.
• This project supports India’s agricultural transformation.
• ADB’s financing will support the Government of India’s Atmanirbhar Clean Plant Program (CPP),
which was announced in February 2023 to establish clean plant centers and a certification scheme
that will ensure farmers can purchase disease-free planting materials from private nurseries.
JICA Commits Up to $1.5 Billion for ADB-Administered LEAP 2 Fund to Bolster Infrastructure in Asia
and the Pacific
• The Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have
agreed to launch a new fund aimed at boosting private infrastructure in the Asia-Pacific, where
China is making inroads with its investments.
• The organisations stated that the new fund, named Leading Asia's Private Infrastructure Fund 2
(LEAP 2), would have capital of up to $1.5 billion provided by JICA, serving as the successor fund
to LEAP.
• The launch, a symbol of ties between Japan and developing Asia, comes a week ahead of summit
meetings between Japanese Prime Minister Fumio Kishida and the leaders of the Association of
Southeast Asian Nations (ASEAN).
About ADB :
About Japan International Cooperation Agency :
• Headquarters : Chiyoda, Tokyo, Japan
• President : Akihiko Tanaka
.
SEBI's Proposal to Reduce NCD Face Value from ₹1 Lakh to ₹10,000

• The Securities and Exchange Board of India (SEBI) proposed to permit companies to issue non-
convertible debentures (NCDs) and non-convertible redeemable preference shares (NCRPS) with
the face value of Rs. 10,000 as against the current system of Rs one lakh face value.
• According to a SEBI consultation paper, the measure aims to enhance the participation of non-
institutional investors in the corporate bond market coupled with mitigation and management of risk
to safeguard and protect the interest of such non-institutional investors.
• SEBI, in the agenda ‘Introduction of Regulatory Framework for Online Bond Platforms’ placed
before the Board in the meeting held on September 30, 2023 approved the proposal to reduce the
face value from Rs 10 lakh to Rs 1 lakh.
• The SEBI has also proposed a framework for the issuance of subordinate units in Real Estate
Investment Trusts (Reits) and Infrastructure Investment Trusts (InvITs) to sponsors, sponsor
groups, and associates.
About SEBI :
RBI Permits Regulated Entities to Utilize HDFC Bank-Crunchfish AB's Offline Payments Solution
• The Reserve Bank of India (RBI) has approved an 'Offline Retail Payments' product developed by
HDFC Bank, in partnership with Crunchfish AB, for adoption by banks and other financial
institutions.
• Under the 'On Tap' application facility for the theme 'Retail Payments' of the Regulatory Sandbox
(RS), HDFC Bank (in partnership with Crunchfish AB) was selected for the Test Phase.
• In February,2023 HDFC Bank launched the pilot, in partnership with Crunchfish, to test offline
digital payments for merchants and customers after the regulator in September 2022 selected the
entity under the 'On Tap' application facility for the theme 'Retail Payments' of the Regulatory
Sandbox to conduct a 'test phase' of the product.
.
• HDFC Bank had stated that it would roll out this service as part of a limited pilot for four months in
over 16 cities and towns across India.
About RBI :
Bank of India Introduces Nari Shakti Savings Account

• Bank of India (BoI) has launched an exclusive savings bank product for women (Nari Shakti
Savings Account) with an independent source of income.
• To provide them with enhanced privileges and features to support their financial empowerment.
• Personal accident insurance cover: This account comes with a comprehensive personal accident
insurance cover of up to Rs. 100 lakhs, ensuring the safety and security of women account
holders.
• Discounted health insurance and wellness products: Women holding the Nari Shakti Savings
Account can avail attractive discounts on health insurance and wellness products, promoting their
overall well-being.
About Bank of India :
• Founded : 7 September 1906
• MD & CEO : Rajneesh Karnatak
Universal Sompo General Insurance Unveils "Muskaan" - a Socially Impactful Health Insurance Policy
for Domestic Workers and Staff
• Universal Sompo General Insurance introduced “Muskaan", an innovative health insurance policy
carefully designed to create a positive social impact and uplift domestic workers and staff.
• Muskaan stands as a specialised health insurance offering dedicated support to domestic workers,
providing them with effortless access to comprehensive coverage for medical needs and
assistance in the event of an accident.
.
• It provides extensive coverage under Section 1 (Health), encompassing in-patient treatment, pre-
hospitalisation, post-hospitalisation, domiciliary treatment, and AYUSH treatment.
• Additionally, Section 2 (Personal Accident) offers comprehensive coverage for accidental death
and permanent total disability.
IDFC FIRST Bank and Mastercard Unveil the FIRST SWYP Credit Card
• IDFC FIRST Bank has introduced a youth-centric “FIRST SWYP” credit card in partnership with
Mastercard.
• The card will address demands of new-age customers, blending benefits across their favourite
categories of spends and lifestyle-related offers and innovative propositions.
• The new card is the Bank’s second youth-focussed credit card.
• It had earlier launched “FIRST Millennia Credit Cards”.
About IDFC First Bank :
• Founded : October 2015
• MD & CEO : V. Vaidyanathan
• IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of
Infrastructure Development Finance Company and Capital First, an Indian non-bank financial
institution.
• It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free credit
cards with dynamic and low annual percentage rates.
About Mastercard :
• Headquarters : New York, United States
• CEO : Michael Miebach
• Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a range
of payment transaction processing and other related-payment services.
HDFC Bank, Axis Bank, and AU Small Finance Bank Embrace FICO Platform as Early Adopters
• Globally renowned data analytics company FICO has commenced operations in India, establishing
collaborations with leading financial institutions, including HDFC Bank, Axis Bank, and AU Small
Finance Bank.
.
• HDFC Bank, Axis Bank, and AU Small Finance Bank are utilizing the FICO platform to undergo
digital transformations in various financial processes, such as those related to home loans, credit
cards, and auto loans.
• FICO emphasizes the efficiency of its cloud-based platform, enabling swift loan approvals within
seconds, reflecting the integration of advanced technology to streamline lending operations.
• Vishal Goyal, the Country Director for India at FICO, underscores that the FICO analytics platform
has the potential to enhance approval rates for lenders.
ACKO Partners with PhonePe to Facilitate Insurance Accessibility for Millions
• ACKO General Insurance and PhonePe have collaborated to provide a range of inclusive car and
bike insurance products directly to users through the PhonePe platform.
• This strategic partnership combines ACKO’s customer-centric approach with PhonePe’s extensive
distribution network, ensuring convenient access to insurance as a readily available financial option
for PhonePe users.
• In addition, this partnership will witness ACKO expanding its product range to encompass health
insurance and various other lines in the coming years.
About ACKO General Insurance :
• Founded : 2016
• Headquarters : Mumbai, Maharashtra, Indi
• CEO : Sanjeev Srinivasan
RBI Increases Unified Payments Interface Automatic Payment Limit to Rs 1 Lakh

● The Reserve Bank of India (RBI) increased the limit for automatic payments through Unified
Payments Interface (UPI) to Rs 1 lakh per transaction from the existing Rs 15,000 for certain
categories, including subscription to mutual funds.
● As of now, relaxation in Additional Factor of Authentication (AFA) is permitted while processing e-
mandates/standing instructions on cards, prepaid payment instruments and UPI (Unified
Payments Interface), for subsequent recurring transactions with values up to Rs 15,000.
● UPI has emerged as a preferred mode of payment for a large section of the population with over
11.23 billion transactions recorded in November, 2023.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
.
● Governor : Shaktikanta Das

● Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi
Sankar
Poonawalla Housing Finance undergoes rebranding, emerges as Grihum Housing Finance
● Following a change in ownership, Poonawalla Housing Finance has been rebranded as Grihum
Housing Finance with global private equity firm TPG now holding 99.02 per cent stake in the
housing finance company.
● Before being promoted by Poonawalla Fincorp, the housing financier was a part of the Magma
Group.
● The new name, Grihum, is a fusion of ‘Grih’ (home) and ‘Hum’ (togetherness), reflecting the
company’s commitment to fostering collaboration and unity.
● The company, which has seen a compound annual growth rate (CAGR) of 28% in its Assets
Under Management (AUM) during the last six years, expects to continue that trend and touch an
AUM of Rs 11,000 crore by March 2025.
● Currently, the AUM of the firm stands at approximately Rs 7,500 crore.
● Speaking on fund-raising plans, the company plans to raise around Rs 2,500 crore in order to
boost the growth of AUM through banks, Non-Convertible Debentures (NCDs), and other
multilateral agencies.
● MD and CEO of Grihum Housing Finance : Manish Jaiswal
Reliance Industries Collaborates with DBS Bank for Financing Program for Compressed Biogas (CBG)
Plants
● Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing
programme customised to the requirements of the compressed biogas project initiated by RIL.
● The financing initiative aims to support the ecosystem development for vendor partners involved
in aggregating agri-residue as inputs for Reliance's CBG production plants across India.
● At Reliance's 46th annual general meeting (AGM), Chairman Mukesh Ambani had informed that
the company targets to establish 100 compressed biogas (CBG) plants in the next 5 years,
consuming 5.5 million tonnes of agro-residue and organic waste.
● The CBG plants are expected to mitigate nearly 2 million tonnes of carbon emissions annually
and produce 2.5 million tonnes of organic manure.
About DBS Bank Limited :
● Established : 16 July 1968
.
● Headquarters : Singapore
● CEO : Piyush Gupta
Finance Ministry Allocates Rs 10,000 Crore as Urgent Aid for National Rural Employment Guarantee
Scheme (NREGS)
● The finance ministry has released ₹10,000 crore in urgent assistance to meet unexpected
enhanced expenditure under the rural job guarantee scheme until the first batch of
supplementary demands for grants is approved by parliament at its next session.
● The unusual move came after 95% of the FY24 budgetary outlay of ₹60,000 crore for the
Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was exhausted
well before the commencement of the winter session of parliament.
● The urgent funds, released last week to the rural development ministry, will form a part of the
additional ₹28,000 crore that could be allocated for the scheme in the first batch of
supplementary demands for grants for FY24.
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Bhagwat Karad, Pankaj Choudhary
CoinSwitch introduces the overarching brand PeepalCo, targeting expansion in wealth technology
● Cryptocurrency platform CoinSwitch has unveiled PeepalCo, a new umbrella brand to house all
its business segments, as it plans to expand into a wealth-tech platform.
● PeepalCo will house CoinSwitch, the crypto retail app, and CoinSwitch PRO, the advanced
trading platform, soon-to-be-launched platform with newer investment classes and wealth-
management division catering to high net worth Individuals (HNIs).
● The unicorn is backed by multiple investors including Andreessen Horowitz (a16z), Tiger Global,
Peak XV Partners (was Sequoia Capital India), Ribbit Capital, Paradigm and Coinbase Ventures.
Federal Bank Named "Bank of the Year India " by The Banker Financial Times
● Federal Bank, a leading financial institution, has been recognised as "Bank of the Year (India)"
by Financial Times owned The Banker, one of the only three global awards that considers the
work of banks spanning 120 countries.
● This prestigious recognition is a testament to the Bank's unwavering commitment to innovation,
customer-centric services, and its outstanding contributions to the banking industry over the past
year.
● One of the standout initiatives that garnered attention was the introduction of the Digital Personal
.
Loan by Federal Bank.

● Recognizing the challenges faced by customers in rural areas in accessing banking services,
Federal Bank launched the 'Bank on the Go' initiative.
● Federal Bank has also embraced cutting-edge technology to enhance customer support,
introducing "Feddy", an artificial intelligence-powered chatbot.
About Federal Bank :
● Headquarters : Aluva, Kochi, Kerala, India
● MD & CEO :Shyam Srinivasan
● Tagline : your perfect banking partner.
iVIS Collaborates with ICICI Bank to Enhance Security through Advanced E-Surveillance Services
● iVIS, a subsidiary of Magellanic Cloud, has announced its empanelment with ICICI Bank for the
delivery of e-surveillance services across branches.
● This strategic collaboration enables iVIS to offer AI/ML and IoT technology-enabled e-
surveillance services, which will include real-time video monitoring and recording, facial
recognition, incident detection, reporting, and data analytics.
About ICICI Bank :
● Founded : 5 January 1994
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Sandeep Bakhshi
Intellect Secures ₹80-Crore Agreement with Indian Bank for Implementation of Cash Management
System
● Intellect Design Arena Limited, the Chennai-based FinTech company for financial and insurance
clients, has signed a ₹80 crore, 5-year deal with Indian Bank to deploy Intellect’s eMACH.ai
powered Cash Management System.
● The partnership is a pivotal moment - adding another feather to Intellect’s growing footprint in the
Indian BFSI industry, rendering the capabilities of a cognitive enterprise for revolutionising
transaction banking.
● As part of the project ‘INDLEAP’, the Indian Bank has taken on the objective of digital
transformation by leveraging technology wherever possible with transaction banking and supply
chain management being the key growth engines.
About Indian Bank :
● Founded : 15 August 1907
.
● Headquarters : Chennai, Tamil Nadu

● MD & CEO : Shanti Lal Jain
● Tagline : Your Own Bank/ Apka Apna Bank
India, ADB sign $200 million loan agreement for Uttarakhand power system project
● India and ADB have signed a $200 million loan agreement with Uttarakhand for the Power
System Project.
● This loan agreement is to improve the quality, efficiency, and reliability of power supply in
Uttarakhand.
● This loan agreement is for the Uttarakhand Climate Resilient Power System Development
Project.
● The Asian Development Bank (ADB) will fund the project.
● This will strengthen the power system infrastructure in Uttarakhand.
● The project involves enhancing the power system network’s capabilities.
● The project will modernise Dehradun city’s power network infrastructure.
● The Japan Fund for Prosperous and Resilient Asia and the Pacific will provide a $2 million grant
to support livelihood enhancement, and training activities of the project.
Weighted average cut-off yield of State Govt Security issuances rose 73 bps during FY23: RBI report
● The weighted average cut-off yield of State Government Security issuances increased to 7.71%
as per RBI report.
● The RBI report is titled “State Finances: A Study of Budgets of 2023-24”.
● As per the report, the weighted average cut-off yield of State Government Security issuances
increased 73 basis points (bps) during 2022-23 from 6.98% in the previous year.
● The weighted average spread (WAS) between SGS issuances and comparable-maturity Central
government securities, however, decreased from 41 basis points to 31 basis points in 2022–
2023.
● The next ten years will see the maturation of almost 79% of SGS.
● According to the report, this increase was concentrated in states like Andhra Pradesh, Gujarat,
Himachal Pradesh, Madhya Pradesh, Haryana and Assam.
SBI to sign 70 million euro LoC with KfW for solar projects
● SBI signed a 70 million euro (approximately Rs 630 crore) Line of Credit (LoC) with KfW.
● The LoC with German Development Bank KfW is for promoting solar projects in the country.
● The agreement was signed on 14 December at the bank’s IFSC Gift City Branch in Ahmedabad.
.
● LoC aims to support Solar Photovoltaics (PV) projects in India.

● SBI has shown a 9.13% growth in consolidated net profit for the September quarter.
● It reported a total income of more than Rs 1.12 lakh crore for September quarter.
PNB Housing Finance completes Rs 1,000 cr loan bookmark under its affordable housing scheme
● PNB Housing Finance, the third largest housing finance company in India, announced that it has
achieved a loan book size of Rs 1,000 crore in the affordable housing segment.
● It said that under its Roshni scheme for affordable housing, it aims to double the loan book by
March 2025.
● The scheme was launched in December last year.
● Girish Kousgi, managing director and chief executive officer at PNB Housing Finance.
● Under the Roshni scheme, the company provides loans for ticket sizes in the range of Rs 5 lakh
to Rs 35 lakh.
YES Bank invites bids for the sale of corporate, retail NPAs worth ₹4,234 cr
● YES Bank has invited expressions of interest (EoI) for the proposed sale of NPAs worth ₹4,234
crore.
● Bids have been invited to identify an anchor bid for the stressed assets sale, all of which are
being offered on an upfront 100 per cent cash basis.
● YES Bank has invited bids for the sale of stressed loans, by December 18.
● As of September 2023, YES Bank has gross NPAs of ₹4, 319 crore of which corporate banking
NPAs were ₹2,236 crore, mid-corporate NPAs were ₹219 crore and SME NPAs were ₹452 crore.
● Retail NPAs stood at ₹1,413 crore.
● Last year, the bank sold a Rs 48000 crore non-performing loan portfolio to JC Flowers ARC in
what is seen as the largest secondary market trade in the distressed loan segment.
‘10 PSBs transferred NPAs of over `11,617 cr to NARCL from Jan-Nov’
● A total of 10 Public Sector Banks (PSBs) have transferred Non-Performing Assets (NPAs) of over
Rs 11,617 crore to NARCL between January and November this year.
● In a written reply to a question in the Rajya Sabha, Minister of State for Finance Bhagwat Karad
said the National Asset Reconstruction Company Ltd (NARCL) has recovered Rs 16.64 crore as
of November 30, 2023.
● As per details of the debt assigned to the NARCL by these 10 PSBs, as on November 30, SBI
has transferred the largest amount of Rs 4,508 crore, followed by PNB, and Canara Bank at Rs
2,138 crore and Rs 1,858 crore, respectively.
.
● Union Bank of India has transferred Rs 1,831 crore to NARCL between January and November.
● The other PSBs include the Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank,
Indian Bank, and Indian Overseas Bank.
● These 10 PSBs had aggregate gross NPAs of over Rs 3.65 lakh crore as of September 30, 2023,
as per the data shared by the Finance Ministry to the Rajya Sabha.
RBI authorised Bandhan Bank to disburse pensions on behalf of Indian Railways
● Bandhan Bank has been authorised by RBI to disburse pensions on behalf of Indian Railways.
● With this authorisation, Bandhan Bank will be allowed to give pensions to all former employees of
the Ministry of Railways.
● It will have access to nearly 50,000 Indian Railways retirees every year on average across all
offices of Indian Railways.
● The net profit of Bandhan Bank more than tripled for the quarter ended September 2023 to Rs
721 crore.
● The net profit increased by a huge 245%.
About Bandhan bank :
● Bandhan Bank is a private-sector bank.
● It is headquartered in Kolkata.
● Dr. Anup Kumar Sinha is its current chairman.
● Chandra Shekhar Ghosh is its MD and CEO.
The presence of Indian banks via subsidiaries increased to 417 in FY23
● Indian banks increased their overseas presence through the subsidiaries route to 417 during
2022-23, from 399 at the end of the preceding fiscal, as per Reserve Bank data.
● Reserve Bank of India (RBI) survey on International Trade in Banking Services 2022-23 showed
their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and
subsidiaries, respectively, during 2022-23, the
● The survey covers 14 Indian banks having overseas branches or subsidiaries and 44 foreign
banks having branches or subsidiaries in India.
● The consolidated balance sheet of foreign banks in India increased 5.7 per cent in US dollar
terms.
● The tightening global monetary policy cycle during the year led to a substantial rise in interest
income and expenses across bank groups.
● Total income to assets ratio of overseas branches of Indian banks increased to 3.9 per cent in
.
2022-23 (1.6 per cent in 2021-22), but it remained lower vis--vis that of 6.9 per cent for foreign
banks in India.
● Branches of Indian banks in the UAE generated the highest fee income, followed by those in the
UK, Hong Kong, and Singapore.
Bain Capital sells a 1.1% stake in Axis Bank for over Rs 3,700 cr
● Private equity firm Bain Capital has offloaded a 1.1% stake in Axis Bank through the open market
raking in a profit of more than Rs 3,700 crore.
● This is the second time in 2023 that Bain Capital has sold a stake in the private sector lender.
● In June, it sold a 0.7% stake in Axis Bank at an average price of Rs 968 apiece, aggregating Rs
2,178 crore.
● Prior to this, the private equity firm had sold a 1.2% stake in October 2022.
● Meanwhile, several foreign portfolio investors (FPIs) picked up stakes in Axis Bank through
separate block deals.
LIC Announces Increase in Gratuity Limit for Agents from Rs 3 Lakh to Rs 5 Lakh
● Life Insurance Corporation (LIC) has notified an increase in gratuity limit to Rs 5 lakh from Rs 3
lakh for LIC agents with an aim to bring substantial improvements to the working conditions and
benefits for them.
● The increase was affected by amending the Life Insurance Corporation of India (Agents)
Regulations, 2017.
● These regulations may be called the Life Insurance Corporation of India (Agents) Amendment
Regulations, 2023.
● Currently, LIC agents are not eligible for renewal commission on any business completed under
the old agency.
About LIC:
● Established: 1st September 1956
● MD: Siddhartha Mohanty
● Headquarters: Mumbai, India
Reliance General Insurance Launches 'Reliance Health Global' Insurance Policy
● Reliance General Insurance Company introduced “Reliance Health Global", a healthcare policy
aimed at providing Indians with access to global healthcare.
● The policy offers extensive coverage both within India and worldwide, catering to individuals with
a global lifestyle.
.
● Sum-Insured Coverage : Substantial sum-insured coverage up to $1 million, providing a robust

sense of security for medical treatment abroad.
● Beyond Hospitalization Coverage : Aside from covering scheduled hospitalization, the policy
includes provisions for travel, accommodation, and comprehensive Visa and assistance services,
addressing unforeseen situations like lost passport or emergency cash needs.
● No Room Rent Limitations:No limitations on room rent, offering flexibility and choice in selecting
healthcare facilities.
About Reliance General Insurance :
● CEO : Rakesh Jain
● Reliance General Insurance Company Limited is an India-based private insurance company and
is part of Reliance Anil Dhirubhai Ambani Group, wholly owned through Reliance Capital.
IndusInd Bank Unveils Innovative 'Indus Solitaire Program' Community Banking Initiative for Diamond
Cohorts
● IndusInd Bank has introduced the 'Indus Solitaire Program,' a specialized community banking
initiative tailored for the diamond industry.
● This curated banking program will be offered through Bank’s flagship branches in prime locations
across various cities with concentration in Mumbai and Surat and will provide a range of
exclusive benefits along with distinct features and enriched offerings to customers in the diamond
industry.
● The program offers exclusive benefits such as 24*7 locker access, add-on family accounts, and
membership benefits at top-tier hotels.
● Debit and credit cards under this program provide concierge services, complimentary golf
lessons and movie tickets, zero cross-currency mark-up fee on foreign exchange, and
complimentary lounge access.
About IndusInd Bank :
● Founded : April 1994
● MD & CEO : Sumant Kathpalia.
● Tagline : We Make You Feel Richer
Government of India and Asian Development Bank Ink 37 Billion Japanese Yen Loan Deal for Delhi-
.
Meerut Regional Rapid Transit System Corridor

● The Government of India (GoI) and Asian Development Bank (ADB) signed an agreement for a
37 billion Japanese Yen ($250 million) loan that will continue financing the construction of the 82-
kilometre Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.
Loan Signatories :
● Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance,
represented the Government of India.
● Mr. Hoe Yun Jeong, Deputy Country Director, and Officer-in-Charge of the India Resident
Mission, represented ADB.
● Previous ADB Funding : Earlier, ADB had approved a $1,049 million Multi-tranche Financing
Facility (MFF) for the project in 2020 to support construction of RRTS, the first of three priority rail
corridors planned under the NCR Regional Plan 2021, to connect Delhi to other cities in adjoining
states.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)
IRDAI Relaxes Claim Settlement Rules for Cyclone Michaung Victims
● The Insurance Regulatory and Development Authority of India (IRDAI) has raised the limits on
losses for the appointment of Surveyors and Loss Assessors.
● The limits have been increased for Motor Insurance to Rs 1 lakh from the existing Rs 50,000. For
other than motor insurance, it has been increased from the current Rs 1 lakh to Rs 5 lakh.
● A surveyor and loss assessor is an insurance intermediary licensed by IRDAI to investigate,
manage, quantify, validate and deal with losses (whether insured or not) arising from any
contingency, on behalf of the company or the policyholder.
● The special dispensation is effective for a period of 2 months from the date of the circular's
issuance.
● Cyclone Michuang (pronounced as ‘Migjaum’) intensified into a severe cyclone after forming in
the Bay of Bengal during the 2023 North Indian Ocean cyclone season.
About IRDAI :
.
● Headquarters : Hyderabad, Telangana
● Chairperson : Debasish Panda
● The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.
Foreign Direct Investment (FDI) Inflows into Gujarat Experience 30% Decline in the First Half of FY24,
Marking a 2-Year Slowing Trend
● Since the last two years, foreign direct investment (FDI) inflows into Gujarat have remained
subdued, despite the state topping the FDI charts in 2020–21.
● In the first six months of the current financial year 2023-24, FDI flows into Gujarat experienced a
nearly 30% decline, marking the third consecutive year of subdued performance.
● Gujarat's FDI decline is the second-highest among Indian states during this period, with
Karnataka experiencing a larger decline of almost 44%.
● Gujarat attracted ₹18,884 crore between April and September, which is lower than the ₹26,866
crore FDI for the same period in 2022–23, according to state figures published by the Department
for Promotion of Industry and Internal Trade (DPIIT).
Cashfree Payments Introduces 'FlowWise,' India's Pioneering Self-Hosted Payments Orchestration
Platform
● Cashfree Payments, India's leading payments and API banking company, announced its foray
into payment orchestration with the launch of 'FlowWise' that helps Indian businesses manage
payments more efficiently.
● The newly introduced platform will allow businesses to easily use multiple payment services with
just one setup and direct payments to different partners based on specific needs in real-time.
● With FlowWise, Cashfree Payments has introduced an innovative and industry-first concept of
'self-hosted payments orchestration', allowing payment management to take place directly on the
merchant's infrastructure.
● It is India's first cloud-native orchestration platform and aims to improve success rate by up to
10% and cut the processing costs up to 40%.
● FlowWise's self hosting feature eliminates safety concerns, making it one of the most secure,
scalable and cost effective solutions for merchants.
● CEO and Co-founder, Cashfree Payments : Akash Sinha
.
HDFC Life and Karur Vysya Bank (KVB) Join Forces in Corporate Agency Partnership for Life
Insurance Solutions
⚫ Private sector Karur Vysya Bank Limited (KVB) and HDFC Life Insurance Company Limited (HDFC
Life) have entered into a corporate agency (CA) agreement to offer life insurance products to their
respective customers.
⚫ This corporate agency arrangement would enable customers of Karur Vysya Bank to avail HDFC
Life's wide range of life insurance products which include solutions for protection, savings and
investment, retirement and critical illness.
⚫ The collaboration is aligned with the goal of Insurance for all by 2047 set by the Insurance
Regulatory and Development Authority (IRDAI).
⚫ Since HDFC Life offers claim intimation process online, our customers can avail the services without
stepping out of their homes.
About HDFC Life Insurance Company Limited :
● Founded : 2000
● MD & CEO : Vibha Padalkar
About Karur Vysya Bank :
● Headquarters : Karur, Tamil Nadu
● MD & CEO : Mr. Ramesh Babu
● Tagline : Smart way to Bank
LIC Becomes First Anchor Investor in NABARD’s Corporate Debt Market Bond Sale
● Life Insurance Corp (LIC), the country's biggest institutional holder of marketable securities, is
officially an anchor investor for an upcoming bond sale by the National Bank for Agricultural and
Rural Development (NABARD), marking the first such occurrence in India's corporate debt
market.
● LIC is the anchor investor for the ₹5,000-crore infrastructure bond sale by Nabard on December
20, 2023.
.
● The issuer, Nabard, has a green shoe option of ₹5,000 crore in addition to the base amount
● As the anchor investor, LIC will take up 30% of the bond sale, amounting to ₹1,500 crore.
● Currently, LIC holds approximately 22% share in the overall bond market and 4% of the total
market capitalization in Indian equities.
● Nabard's bonds are rated AAA by rating agencies ICRA and India Ratings and will mature on
April 28, 2034.
● In Nov 2023, LIC had invested a little more than ₹13,000 crore out of a ₹20,000-crore bond sale
by Reliance Industries in November.
About LIC:
About NABARD :
● Chairman : Shri. Shaji K V
● It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
● NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
● It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
PayCraft Collaborates with NSDL Payments Bank and NPCI to Introduce Corporate Transit Card
● PayCraft Solutions Private Limited, a Mumbai-based fintech entity specializing in online and
offline payments processing, has launched the One Nation Corporate Card in partnership with
NSDL Payments Bank and the National Payments Corporation of India (NPCI).
● The One Nation Corporate Card will be offered to the Indian Customers Pan India from June
End.
● Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards
will advance the Government of India’s vision of One Nation One Card.
.
● Benefits to Corporates and SMEs: This card is a one-stop end-to-end payment solution specially
designed for corporates and SMEs to make their business travel, small value
payments/disbursements, branch expenses, etc. simpler and faster.
● Benefits to Employees: The One Nation Corporate Card is a multipurpose card and can be used
as day-to-day Transit Travel Card (in metro, buses, and other modes of public transport wherever
NCMC card is accepted), tax benefit card and business travel card.
About PayCraft :
● Founded : 2013
● CEO : Ambarish Parekh
About NSDL Payments Bank :
● It is a wholly owned subsidiary of National Securities Depository Limited (NSDL).
About NPCI :
● MD & CEO : Dilip Asbe
● The National Payments Corporation of India is an umbrella organization for operating retail
payments and settlement systems in India, is an initiative of the Reserve Bank of India (RBI) and
Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems
Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
U GRO Capital Secures $30 Million in Funding from Dutch Development Bank FMO through Non-
Convertible Debentures (NCDs)
● U GRO Capital, a lending tech platform catering to Micro, Small and Medium Enterprises
(MSMEs), has raised Rs 250 crore (approximately USD 30 million) through non-convertible
debentures (NCDs) from FMO, the Dutch Entrepreneurial Development Bank based in the
Hague, the Netherlands.
● The INR-denominated NCDs issuance was fully subscribed by FMO.
● As an impact investor, FMO focuses on 3 sectors with a high development impact, agribusiness,
food & water, energy, and financial institutions.
.
● With a total committed portfolio of around EUR 12 billion across over 85 countries, FMO is
among larger bilateral private sector development banks globally.
● Over the past five years, U GRO Capital said it has provided credit to more than 80,000 small
businesses.
● According to the latest data on sectoral deployment by the Reserve Bank of India (RBI), the
MSME sector in October, 2023 had received Rs 23.15 lakh crore in priority sector lending from
scheduled commercial banks.
About U GRO Capital :
● Founder and Managing Director : Shachindra Nath
CASHe Unveils its Super App & Repositions itself as ‘Bharat Ka Money App’
● CASHe, a leading credit-led Artificial Intelligence (AI)-driven financial wellness platform, has
unveiled its super app with the tagline - 'Bharat Ka Money App.'
● CASHe represents commitment to delivering accessible, innovative, and empowering financial
solutions to all."
● The new tagline captures the company's steadfast focus on providing comprehensive financial
solutions, seamlessly integrating credit, investment, and insurance - all customized to
conveniently address the diverse financial needs of users on one unified platform.
● Simultaneously, CASHe has launched a revamped website (www.cashe.co.in) along with the
launch of its mobile application, designed to expand its financial offerings to a broader audience
and reinforce its national presence.
About CASHe :
● Founded : 2016
● CEO : Yashoraj Tyagi
IDFC FIRST Bank, LIC Cards and Mastercard Collaborate to Launch a Co-branded Credit Card to Meet
the Financial Needs of India
.
● IDFC First Bank, LIC Cards, and Mastercard announced their collaboration to launch an
exclusive co-branded credit card to meet the dynamic financial needs of the country.
● The credit card is available in two variants – LIC Classic and LIC Select.
● Financial Benefits : No joining and annual fees for the credit card.
● Low interest rates starting from 9% p.a.
● Insurance Benefits : Cardholders enjoy a personal accident insurance cover of up to Rs. 5 lakh.
● Up to Rs. 50,000 cover for lost card liability.
● Roadside Vehicle Assistance : Additional perk includes roadside vehicle assistance worth Rs.
1,399.
● Fee Structure : Zero joining fee and zero annual fee. No minimum spend conditions Dynamic
APR (Annual Percentage Rate). Low revolving credit for better credit customers.
● Founded : October 2015
● MD & CEO : V. Vaidyanathan
● Tagline : Always You First
● IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of
institution.
● It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free
credit cards with dynamic and low annual percentage rates.
About Mastercard :
● Headquarters : New York, United States
● CEO : Michael Miebach
● Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a
range of payment transaction processing and other related-payment services.
PFRDA Releases Preliminary Risk Management Framework for Credit Rating Agencies (CRAs)
.
● Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) has issued a
Draft Risk Management Framework for the Central Record keeping Agencies (CRAs) under
National Pension System (NPS) architecture.
● The stakeholders including CRAs have been given time till January 1 to provide their
feedback/suggestions/inputs on the draft proposals.
● Currently, there are 3 CRAs registered with the Pension Fund Regulatory and Development
Authority.
● They are Computer Age Management Services Ltd (CAMS), Protean eGov Technologies Ltd.
(Formerly NSDL e-Governance Infrastructure Limited), and KFin Technologies Limited.
● The Risk Management Framework will have to be approved by the respective Boards of CRAs
and submitted to the regulatory. The policy would be reviewed periodically by the Board of
PFRDA.
● The objective of the Risk Management Framework includes managing risk in a consistent
manner across the organisational set up of the CRA; have a strong risk culture wherein
managing risk would be part of regular work of the CRA; and deliver fair outcomes for
subscribers, maintain an orderly and transparent operation of services of the CRAs to
subscribers and all other stakeholders.
SBI Mutual Fund Acquires 1.5% Stake in Karur Vysya Bank for Rs 190 Crore
● SBI Mutual Fund acquired shares of scheduled commercial bank Karur Vysya Bank (KVB) for Rs
190 crore through open market transactions.
● According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF)
purchased a total of 1,20,00,000 shares, amounting to a 1.5% stake in Karur Vysya Bank.
● The shares were picked at an average price of Rs 162 apiece on both bourses, taking the
combined aggregate deal size to Rs 194.40 crore.
● Shares of Karur Vysya Bank rose 1.32 per cent to close at Rs 164.90 apiece on the BSE and
gained 0.52 per cent to settle at Rs 164.70 per piece on the NSE.
About SBI Mutual Fund :
● Founded : 1987
● MD & CEO : Shamsher Singh
.
● SBIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and
Amundi, a European asset management company.
● Headquarters : Karur, Tamil Nadu
● MD & CEO : Mr. Ramesh Babu
● Tagline : Smart way to Bank
State Bank of India (SBI) Set to Ink $165 Million Line of Credit (LoC) Agreement with World Bank for
Rooftop Solar Projects
● State Bank of India (SBI) has signed a $165 million (over Rs 1,300 crore) Line of Credit (LoC)
with the World Bank for promoting rooftop solar projects in India.
● The LoC is specifically aimed at supporting grid-connected rooftop solar photovoltaic (PV)
projects in both residential and institutional sectors.
● The SBI has outstanding forex loans of $2.3 billion from various multilateral agencies, including
the World Bank, the Asian Development Bank, and Germany's KfW.
● In September 2023, SBI announced that it plans to make home loans with rooftop solar
installations mandatory for residential projects funded from the bank's long-term climate action
funds drawn down from multilateral agencies.
● SBI is planning to make it mandatory for builders to make rooftop solar installations if the project
is funded from the bank's green funds.
● On December 21,2023 SBI announced it is signing Rs 1,800 crore in LoC with the European
Investment Bank (EIB) to support climate action projects in the country. On December 14, SBI
signed Rs 630 crore in LoC with German Development Bank KfW to promote solar projects in
India.
● SBI registered a 9.13% growth in consolidated net profit in the September quarter to Rs
16,099.58 crore as against Rs 14,752 crore in the year-ago period.
About SBI :
● Chairman : Dinesh Kumar Khara
.
● CFO : Kameshwar Rao Kodavanti

About World Bank :
● Established : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga
● The World Bank is an international financial institution that provides loans and grants to the
governments of low- and middle-income countries for the purpose of pursuing capital projects.
Bandhan Bank Receives Mandate to Collect Revenue on Assam Government's e-GRAS Portal
● Bandhan Bank has obtained a mandate to oversee revenue collection on the Assam
government's e-GRAS portal.
● This will enable people of Assam to make their tax payments as well as non-tax payments
through the Government Receipt Accounting System Portal (GRAS).
● This initiative aims to streamline transactions, making them more accessible and paperless for
the people of Assam.
● Through Assam e-GRAS portal, a citizen can pay to 70 various departments for a range of
services offered by them.
● In the fiscal year 2022-23, the total collection through the Assam e-GRAS portal reached nearly
Rs 16,000 crore.
● Government Receipt Accounting System (GRAS) is a web application, which provides facility to
the citizens, business community to pay taxes and non-tax receipts to the government
electronically.
● Assam eGRAS provides 24 X 7 facility and the citizens of Assam can generate e-challan for
required services and make online payments anytime from anywhere.
About Bandhan Bank :
● Founded : 2015
● Headquarters : Kolkata, West Bengal, India
● MD & CEO : Chandra Shekhar Ghosh
● Tagline : Aapka Bhala. Sabki Bhalai. ', (Your benefit. Everyone's welfare.)
International Financial Services Centres Authority Establishes Expert Panel for Transition Finance
.
● The International Financial Services Centres Authority (IFSCA) has constituted an expert
committee on transition finance to formulate a regulatory framework to promote green and
sustainable debt securities.
● Committee Composition : The committee, which includes representatives from corporates,
banks, standard setters, exchanges, consultants, and think tanks, will be chaired by Dhruba
Purkayastha, the India Director for Climate Policy Initiative.
● Committee's Mandate : The committee has been tasked to assess the trends in the segment and
identify the best practices for transition finance in India by 2047.
● Responsibilities of the Committee : Along with providing a roadmap and timeline for developing
this ecosystem in India’s maiden IFSC, GIFT City, the committee will recommend policy
decisions to the government to address taxation, legal, and regulatory affairs.
● Ongoing Initiatives at IFSC : Several ongoing initiatives towards developing IFSC as the hub for
sustainable finance instruments have led to significant issuance.
● These initiatives have led to the listing of $10.1 billion ESG-labelled debt securities, issuance of
more than $700 million in green/sustainable loans, and the setup of an ESG Engagement Fund
at IFSC.
● Impact on India Inc : The additional regulatory and policy measures will help India Inc to fund its
transition to net-zero carbon emissions through transition bonds and transition loans.
About IFSCA :
● Established : April 27, 2020 (under the International Financial Services Centres Authority Act,
2019)
● Headquarters : Gujarat
● Chairman : K Rajaraman
● The IFSCA is the regulatory body for the Indian special economic zones such as the GIFT
International Financial Services Centre for International Financial Services and commodity
markets under the ownership of the Government of India.
Axis Bank Collaborates with American Express to Introduce Axis Bank Privilege Credit Card on Amex
Network
● Private sector lender Axis Bank has tied up with American Express and launched an Axis Bank
Privilege Credit Card on the American Express network.
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● The Axis Bank Privilege Credit Card on American Express network is packed with a host of
attractive benefits such as activation benefit worth Rs 5000 and two complimentary domestic
lounge access per calendar quarter.
● To be eligible for the card, you must be a resident of India with an annual net income of at least
Rs 600,000.
● The joining fee is Rs 1500, but it is free for priority customers.
● The annual fee of Rs 1500 is reversed on achieving spends of Rs 2.5 lakh in the previous year
● Card members can get activation vouchers from marquee merchants on defined spend
thresholds on the card, and instant discounts on online merchants including Swiggy, Blinkit and
Zomato.
● Cardholders must make the first transaction within 30 days of card setup to avail of this benefit.
About Axis Bank :
● Established : 3 December 1993
● Headquarters: Mumbai, Maharashtra, India
● MD & CEO: Amitabh Chaudhry
● Tagline : Badhti Ka Naam Zindagi
Kotak Mahindra Life Insurance Unveils T.U.L.I.P, a New Term with Unit-Linked Insurance Plan (ULIP)
● Kotak Mahindra Life Insurance Company has introduced a new insurance product known as
T.U.L.I.P – Term with Unit Linked Insurance Plan.
● This is a unit-linked term insurance plan designed to provide life coverage up to 100 times the
annual premium, allowing customers to potentially earn returns similar to a unit-linked insurance
plan (ULIP).
● In addition to life coverage, it offers extra protection against critical illnesses and accidental
death.
● Loyalty additions of up to 30% of the fund value, incorporated by the company as part of maturity
benefits.
● Refund of two times the premium allocation charges in the 10th, 11th, 12th, and 13th year.
● Refund of one to three times the mortality charges from the 11th policy year onward.
● Flexibility to withdraw funds in case of a financial emergency..
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● T.U.L.I.P offers policyholders the flexibility of selecting from eight fund options that encompass
equity, including mid-cap, debt, and hybrid categories.
● This flexibility empowers individuals to customize their investment strategy based on their risk
tolerance and financial objectives.
About Kotak Mahindra Life Insurance Company :
● Managing Director : Mahesh Balasubramanian
Bank of Baroda Faces ₹5 Crore Penalty from RBI Over Shortage in Soiled Note Remittances
● Bank of Baroda informed, in an exchange filing, that the Reserve Bank of India had imposed a
penalty of ₹5 crore on the bank, in light of a shortage in the soiled note remittances.
● The RBI also imposed an additional penalty of ₹2,750 on the bank after it detected "fake and
mutilated" notes in the soiled note remittances.
● A ‘soiled note’ is a "note which has become dirty due to normal wear and tear and also includes a
two piece note pasted together wherein both the pieces presented belong to the same note and
form the entire note with no essential feature missing.
● Clean Note Policy Mandate : India's central bank Reserve Bank of India (RBI) imposes these
penalties in keeping with a Clean Note Policy, which mandates that a "penalty be levied
immediately on detection of shortage in soiled note remittances/chest balances, irrespective of
the number of pieces detected."
About BoB :
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand
● Tagline : India's International Bank
PFRDA Permits NPS Subscribers to Make Contributions via UPI QR Code for D-Remit
● Pension fund regulator, the Pension Fund Regulatory and Development Authority (PFRDA)
allowed National Pension System (NPS) subscribers to deposit their contributions directly under
the D-Remit proc ess through the Unified Payments Interface (UPI) QR code.
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● This advancement aims to simplify the contribution process, making it more accessible and
efficient for NPS participants.
● The D-remit ID, comprising 15 digits, must be added as a beneficiary in internet banking when
transferring voluntary contributions from the subscribers’ savings bank accounts.
● Under the NPS, subscribers make voluntary contributions to their NPS Tier I and II accounts.
● \The introduction of QR code - UPI for D-Remit is a positive & revolutionary step towards making
NPS contributions more accessible, efficient, and flexible.
● It is important to note that the D-Remit virtual account is distinct from the Permanent Retirement
Account Number (PRAN).
● Same-Day Investment: Contributions received by the Trustee Bank (TB) before 9:30 AM will be
invested on the same day, optimizing returns.
● Periodical Auto Debit: Subscribers can set up periodical auto-debit payments, such as monthly,
quarterly, or half-yearly, providing a convenient way to build their retirement corpus.
● One-Time or Regular Contribution: The flexibility to choose between one-time or regular
contributions based on individual preferences and financial goals.
● Optimised Investment: The D-Remit process leverages standing instructions and rupee cost
averaging for long-term retirement wealth creation.
About PFRDA :
● Headquarters : New Delhi, Delhi
● Chairman : Deepak Mohanty
● PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
● It operates under the jurisdiction of the Ministry of Finance in the Government of India.
● It is a statutory regulatory body set up under the PFRDA Act, 2013.
● Its objective is to promote old age income security by establishing, developing, and regulating
pension funds and to protect the interests of subscribers to schemes of pension funds and
related matters.
● Composition: It consists of a Chairperson and not more than six members, of whom at least three
shall be whole-time members, to be appointed by the Central Government.
● NPS is a social security initiative by the Central Government.
● This pension programme is open to employees from the public, private, and even unorganised
sectors, except those from the armed forces.
● Earlier, the NPS scheme covered only Central Government employees.
.
● With effect from 1st May, 2009, NPS has been provided for all citizens of the country, including
the unorganised sector workers, on a voluntary basis.
● It is based on the unique Permanent Retirement Account Number (PRAN) allotted to every
subscriber.
● The scheme is portable across jobs and locations, with tax benefits under Section 80C and
Section 80CCD.
● Minister of State : Bhagwat Karad, Pankaj Choudhar
Aditya Birla Sun Life and IDFC First Bank Forge Partnership for Joint Financial Solutions
● Aditya Birla Sun Life Insurance and IDFC First Bank have entered into a bancassurance
partnership to offer insurance solutions to the bank’s customers.
● Under this collaboration, the insurer will leverage the extensive distribution network of IDFC First
Bank.
● Aditya Birla Sun Life will offer products and services, including those that focus on retirement
planning, ensuring a steady source of second income and tax-free returns tailored to their life
stages.
● The partnership will provide customers with a one-stop-shop for their financial needs, including a
range of insurance and banking products, and enhance the customer experience.
● The two organisations will also collaborate to create financial solutions that cater to the changing
needs of customers.
● MD and CEO of Aditya Birla Sun Life Insurance : Kamlesh Rao
● Founded : October 2015
● MD & CEO : V. Vaidyanathan
institution.
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● It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free
credit cards with dynamic and low annual percentage rates.
DCB partners with Easy Home Finance to offer economical housing loans
● DCB Bank, a new generation private sector bank and Easy Home Finance Limited (EASY) -
India's leading mortgage tech company have entered a colending business alliance to offer
affordable home loans in the country.
● This alliance seeks to leverage DCB Bank's expertise in the affordable housing segment and
EASY's tech capabilities to enable quick disbursement of affordable home loans and fulfil the
dream of many an Indian of owning a home, come true.
● DCB Bank has built a granular and secure home loan portfolio across varied geographies and
has built expertise in credit assessment for a range of loans such as, prime home loans,
affordable home loans, Loan against Property (LAP), Micro-LAP, loan for home improvement,
and construction finance for developers as well.
● EASY is a pioneer in the mortgage tech space in the Indian subcontinent.
● Easy's asset-light model of neo banking mortgage and a greater reach for digital home loans
combined with rural and urban connect of DCB Bank will help customers in faster processing of
their home loan application.
● Managing Director of Easy Home Finance Limited : Mr. Rohit Chokhani
About DCB Bank :
● MD & CEO : Murali M. Natrajan
● DCB Bank Limited is a private sector scheduled commercial bank in India.
Unclaimed Bank Deposits Surge by 28% to Reach Rs 42,270 Crore, Refunds Amounting to Rs 1.4
Billion
● Unclaimed deposits with banks have seen a notable 28% year-on-year increase, soaring to Rs
42,270 crore by March 2023, up from Rs 32,934 crore in the fiscal year 2022.
● Among the unclaimed deposits, public sector banks hold a significant share, amounting to Rs
36,185 crore, while private sector banks account for Rs 6,087 crore as of March 2023.
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● RBI's Involvement: Banks follow a practice of transferring unclaimed deposits from dormant
accounts of 10 or more years to the Reserve Bank of India's (RBI) Depositor Education and
Awareness (DEA) Fund.
● RBI's Directive: In an effort to tackle the issue, the RBI has instructed banks to publish lists of
unclaimed deposits from accounts inactive for a decade or longer on their official websites.
● Centralised Web Portal (UDGAM): The RBI has introduced a centralised web portal called
Unclaimed Deposits Gateway to Access Information (UDGAM).
● '100 Days 100 Pays' Campaign: The RBI has initiated a campaign named '100 Days 100 Pays,'
urging banks to identify and settle the top 100 unclaimed deposits of each bank in every district
within a 100-day timeframe.
● Refunds under Campaign: At the conclusion of the '100 Days 100 Pays' campaign, 31 major
banks, constituting over 90% of unclaimed deposit balances with the DEA Fund, have
successfully refunded Rs 1,432.68 crore.
Bandhan Bank Unveils 'INSPIRE' Program for Seniors with Exclusive Banking Benefits
● Bandhan Bank has launched the ‘INSPIRE’ programme for senior citizens, catering to their
diverse banking needs, from preferential interest rates and priority banking to doorstep facilities.
● A specially designed INSPIRE membership card will allow senior citizens to access healthcare
benefits, enhanced banking services and special interest rates on fixed deposits (FD).
● As part of the INSPIRE programme, Bandhan Bank also plans to set up dedicated senior citizen
help desks at its branches to ensure personalised service.
● Regarding preferential fixed deposit rates for senior citizens, Bandhan Bank offers 8.35 per cent
interest on 500-day FDs.
● It provides 7.5 per cent annual interest to seniors for tax-saver FDs.
● In August,2023 the Reserve Bank of India (RBI) authorised the bank to disburse civil pensions to
the central government employees on behalf of the Central Pension Accounting Office (CPAO)
under the finance ministry, marking a major milestone in its journey.
● Founded : 2015
● Founder, MD and CEO : Chandra Shekhar Ghosh.
● Tagline : 'Aapka Bhala. Sabki Bhalai. ', (Your benefit. Everyone's welfare.)
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World Bank Greenlights $300 Million Initiative to Enhance Urban Water and Sewerage Infrastructure in
Tamil Nadu
● The World Bank's Board of Executive Directors has given the green light to a groundbreaking
initiative aimed at fortifying urban water and sewerage systems for approximately 2 million people
in Tamil Nadu, one of India's most urbanised states.
● According to the World Bank, the newly approved USD 300 million Tamil Nadu Climate Resilient
Urban Development Program is set to enhance access to quality water and sewerage services,
promoting climate-resilient cities in the face of escalating climate shocks such as floods and
droughts.
● The program will target 21 Urban Local Bodies (ULBs), upgrading their delivery systems to
ensure efficient water supply and sewerage services.
● The $300 million loan from the International Bank of Reconstruction and Development (IBRD) will
use the blended financing instrument of Program-for-Results (PforR) with Investment Project
Financing (IPF) to link disbursement of funds directly to the achievement of results while
providing technical assistance.
● The Program loan has a maturity of 32 years with a grace period of 7 years.
India & the Asian Development Bank (ADB) ink $100 million loan pact to enhance urban services and
boost tourism infrastructure in the state of Tripura
● The Government of India (GoI) signed an agreement with Asian Development Bank (ADB) to
avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern
state of Tripura.
● The signatories to the loan agreement for the Tripura Urban and Tourism Development Project
were Ms. Juhi Mukherjee, Joint Secretary Department of Economic Affairs in the Ministry of
Finance, for the Government of India, and Mr. Nilaya Mitash, Officer-in-Charge of ADB’s India
Resident Mission, for ADB.
● Urban Infrastructure Upgrades :
➢ Installation of 42 km of new transmission and distribution pipes for urban water supply.
➢ Establishment of 4 new water treatment plants.
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➢ Improvement of 55 km of stormwater drains

➢ Upgradation of 21 km of urban roads with features catering to the needs of diverse
populations (elderly, women, children, and differently-abled).
● Capacity Building: The project includes capacity building for 12 urban local bodies, covering
planning, infrastructure operations, financial management, gender equality, social inclusion, and
project management.
● Building Regulations: The state government will update building regulations to incorporate spatial
planning and green building principles, ensuring climate and disaster resilience.
● Tourism Development : Through this project, ADB will help upgrade tourist destinations, such as
the Chaturdash Devata Temple, Kasba Kalibari, and Neermahal Palace, by improving the
amenities, rooms, landscaping, and making them more visitor- and gender-friendly destinations.
● Tourism Business Plan: A 10-year tourism business plan will be developed to guide marketing,
promotion, and attract private sector investments in the tourism sector.
About ADB :
RBI's Model Anticipates Retail Inflation to Reach 4.8% in FY25
● The Reserve Bank of India’s (RBI's) Dynamic Stochastic General Equilibrium (DSGE) model
forecasts retail inflation to be 4.8% in the fiscal year 2024-25.
● The projected inflation rate surpasses the Monetary Policy Committee's (MPC) target of 4%.
● CPI Inflation Trends: The Consumer Price Index (CPI) inflation is anticipated to ease post Q3
FY24, averaging at 5.3% for the entire FY24 and further moderating to 4.8% in FY25.
● Repo Rate Implications: The DSGE model suggests that, based on the retail inflation forecast,
the repo rate is likely to remain at 6.5% for the majority of FY25.
● MPC Focus on Accommodation Withdrawal: The Monetary Policy Committee plans to maintain
the repo rate at 6.5% as part of its strategy to withdraw accommodation and align with the 4%
inflation target.
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● Real GDP Growth Projection (2023-24): The DSGE model projects a real GDP growth rate of
7.1% for the financial year 2023-24.
● DSGE Model Overview : The Dynamic Stochastic General Equilibrium (DSGE) model for the
Indian economy captures the dynamic interactions between various agents in the economy as
well as their response to shocks.
● For arriving at FY24 and FY25 real GDP growth projections, the DSGE model has made
following assumptions:
➢ Global GDP growth of 2.6% and 2.1% for 2023-24 and 2024- 25, respectively
➢ Global CPI inflation of 5.5% and 4.0% for FY24 and FY25 respectively
➢ Unchanged policy repo rate and US Fed funds rate at 6.5% and 5.5% for the current and
next financial year, respectively.
About RBI :
Sankar
MSME lender U Gro Capital raises ₹250 crore from Dutch development bank
● Micro, Small and Medium Enterprises (MSME) lender U Gro Capital has raised ₹250 crore from
Dutch development bank through rupee-denominated non-convertible debentures (NCDs).
● The association will help strengthen the fund’s commitment towards greater financial inclusion in
India.
● The MSME-lending-focused NBFC has provided credit to more than 80,000 small businesses.
● Prior to this, it had raised ₹240 crore from Denmark’s Investment Fund for Developing Countries
(IFU) in May 2023.
● Out of U Gro Capital’s total borrowings, about 20% are from development financial institutions
and impact funds like ResponsIbility, Calvert Impact Capital, Enabling Qapital, SIDBI, and others
IMF Reclassified India's Exchange Rate Regime from Floating to Stabilized Arrangement
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● India’s de facto exchange rate regime has been reclassified by the International Monetary Fund
(IMF) from “floating” to “stabilised arrangement” for the period December 2022 to October 2023.
● IMF Article IV Review Process : A team from the IMF staff visits the nation as part of the Article
IV review process.
● Rupee-Dollar Fluctuations : The staff saw that the rupee-dollar had fluctuated dramatically during
the previous two years, losing almost 15% of its value between December 2019 and November
2022.
● Reform Efforts and Potential Growth : India has a far higher potential growth rate, according to
the IMF, if reform efforts are advanced.
● Economic Projections : The IMF stated that real GDP is projected to grow at 6.3% in FY 2023/24
and FY2024/25.
● Inflation Outlook : Headline inflation is expected to gradually decline to the target.
● Current Account Deficit Improvement : The current account deficit is expected to improve to 1.8%
of GDP in FY 2023/24.
About IMF :
● Managing Director : Kristalina Georgieva
● Membership : 190 countries (189 UN countries and Kosovo)
LIC Granted Extension Until May 2032 to Attain 25% Minimum Public Shareholding
● Life Insurance Corporation of India (LIC) will get time till May 2032 to comply with Minimum
Public Shareholding (MPS) norms prescribed by the Securities and Exchange Board of India
(SEBI) under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957.
● As of September 30, 2023, the government owns 96.5% in LIC.
● The government divested 3.5% of its shareholding in LIC last year, and accordingly, it got listed
on stock exchanges.
● Rule 19A of the Securities Contract Regulation Rules says every listed company, other than a
public sector company, shall maintain a public shareholding of at least 25%.
● Such a provision aims to bring more public shareholding.
● The public can be an individual or an institution.
About LIC:
.

NABARD's Initiative to Access Global Climate Capital for the Indian Agricultural Sector
● The National Bank for Agriculture and Rural Development (NABARD) has teamed up with the
Asian Development Bank (ADB) to help the farming sector tackle the adverse impact of climate
change.
● The two organisations, in association with the Bill and Melinda Gates Foundation, will tap climate
capital to fund agricultural, natural resources and rural development (ANR) initiatives.
● The collaboration is aimed at enhancing food security and climate financing in India’s ANR
sector.
● Intellecap Advisory Services Private Limited will manage the TCU set up under the agreement.
● The partnership will identify and support food security and climate financing programmes in the
ANR sector.
● The projects eligible for support include climate-resilient agriculture and agroforestry projects,
irrigation modernisation projects and JIVA (agro-ecology programme for revitalising natural
resources management).
About JIVA :
● Launched by NABARD in 2022.
● JIVA is a community-based participatory programme for watershed (rainfed) and wadi (tribal)
areas, extending over 2.5 million hectares, with a funding commitment of about Rs 5,000 crore.
About NABARD :
IndusInd Bank Divests from Nippon Life India Asset, Sells Shares Valued at Rs 795 Crore
.
● Hinduja-promoted IndusInd Bank sold its entire 2.86% stake in Nippon Life India Asset
Management for Rs 795 crore through open market transactions.
● SBI Mutual Fund (MF), ICICI Prudential MF, Bajaj Allianz Life Insurance, ICICI Prudential Asset
Management Company, Societe Generale and Morgan Stanley Asia Singapore, were among the
buyers.
● Through 13 tranches, IndusInd Bank offloaded 1,78,57,355 shares, amounting to a 2.86% stake
in Nippon Life India Asset Management (NAM-INDIA), as per the block deal data available with
the BSE.
● According to the block deal data available with the National Stock Exchange (NSE), K S
Kolbenschmidt GMBH sold 39 lakh shares, amounting to a 8.85 per cent stake in Shriram
Pistons & Rings Ltd.
ETO Motors gets Rs 12.45 crore grant from SIDBI to deploy 300 electric three-wheelers in Delhi and
Hyderabad
● The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO
Motors to deploy 300 electric three-wheelers in Hyderabad, Telangana and New Delhi, Delhi for
first- and last-mile passenger connectivity.
● The EV maker will also build an EV charging infrastructure to support the deployment of the
electric three-wheelers.
● The objective of this scheme is to provide access to affordable financing for electric vehicles and
to develop charging infrastructure, including battery swapping.
● As part of the funding, ETO Motors is expected to set up 180 charging points in the two cities.
● The electric three-wheelers will be manufactured at ETO Motors’ capacity in Jadcherla,
Telangana which also includes a modern research and development lab.
About Small Industries Development Bank of India :
● Headquarters : Lucknow, Uttar Pradesh, India
.
● Chairman & MD : Sivasubramanian Ramann

● The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and
medium enterprise finance companies in India.
● It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).
IndusInd Bank introduces ‘eSvarna’, India’s first Corporate Credit Card on RuPay network
● IndusInd Bank has launched ‘eSvarna’, the country’s first corporate credit card on the RuPay
network, enabling the private sector lender to become the first to integrate UPI functionality with a
corporate credit card.
● The card facilitates smooth transactions at merchant outlets and allows users the flexibility to
make UPI payments by linking the card with UPI-enabled apps.
● The IndusInd Bank eSvarna credit card on the RuPay network comes with an array of exclusive
perks and rewards.
● IndusInd Bank eSvarna credit cardholders can look forward to a luxurious travel experience,
including complimentary lounge access and fuel surcharge waiver.
● Corporate travellers can receive the added benefit of comprehensive travel insurance coverage
and an exclusive rewards program meticulously crafted for corporate entities, which makes this
credit card a valuable financial solution for various business transactions
RBI Strengthens Regulations for Lenders Engaging in Alternative Investment Fund (AIF) Investments
● The Reserve Bank of India (RBI) directed banks and Non-bank financial companies (NBFCs) not
to invest in any scheme of Alternative Investment Funds (AIFs).
● RBI tightens norms for banks, NBFCs and other lenders for investing in AIFs.
● This decision has been taken to curb the evergreening of stressed loans.
● The Reserve Bank has stated that new steps have been taken to stop the arrangement of new
loans to repay the old loans through AIF.
● The notification adds that in case the bank is unable to liquidate its investment within the
specified time frame, then it must make 100% provision on such investments.
● As per RBI circular, banks and NBFCs are required to assess & liquidate AIF investments within
30 days to prevent evergreening of loan exposures.
.
● Alternative investment funds (AIFs) are established or incorporated in India to collect funds from
sophisticated investors.
● The Securities and Exchange Board of India (SEBI) had informed RBI about instances of non-
bank financier’s evergreening loans through the AIF route.
● Regulated entities (REs) invest in units of AIFs as part of their regular investment operations.
● In evergreening of loans, the bank tries to revive a loan that is on the verge of default by giving
further loans to the same borrower.
➢ These instructions applied to All Commercial Banks (including Small Finance Banks, Local Area
Banks and Regional Rural Banks)
➢ All Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks
➢ All All-India Financial Institutions
➢ All Non-Banking Financial Companies (including Housing Finance Companies)
● These instructions have been issued in exercise of the powers conferred by the Sections 21 and
35A of the Banking Regulation Act, 1949 read with Section 56 of the Banking Regulation Act,
1949; Chapter IIIB of the Reserve Bank of India Act, 1934 and Sections 30A, 32 and 33 of the
National Housing Bank Act, 1987.
ICICI Prudential Mutual Fund revises symbols for 28 ETF schemes
● ICICI Prudential Mutual Fund has announced changes in its 28 exchange-traded fund (ETF)
product symbols on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
● The codes will now be a combination of the name of the fund and the suffix 'IETF' (stands for
ICICI Prudential ETF).
● The move to standardise the naming convention of schemes comes in line with the Securities
Exchange Board of India's (SEBI's) master circular, which outlines the categorisation of
schemes.
About ICICI Prudential Mutual Fund :
● Founded : 1993
● MD & CEO : Mr. Nimesh Shah
● It is a joint venture between ICICI Bank and Prudential plc.
● It is the second-largest asset management company in India after the SBI Mutual Fund.
HDFC Life and NKGSB Co-Operative Bank Form Strategic Corporate Partnership
.
● HDFC Life, one of India’s leading insurers, and NKGSB Co-operative Bank Limited, having a
legacy of 106 years, have entered into a Corporate Agency tie-up enabling NKGSB Co-operative
Bank customers to avail life insurance products of HDFC Life.
● NKGSB Co-operative Bank with a Banking legacy of 106 years is delighted to enter into a
strategic and momentous alliance with HDFC Life Insurance Company to provide life insurance
solutions that cater to various needs of individuals - protection, pension, savings, investment and
annuity.
● This alliance reflects our Bank’s commitment in ensuring the well-being and financial security of
its valued customers.”
About HDFC Life Insurance Company Limited :
● Headquarters ; Mumbai, Maharashtra, India
● MD & CEO : Vibha Padalkar
● It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of
India's leading housing finance institutions and Abrdn, a global investment company.
About NKGSB Co-operative Bank :
● Chairman : Himangee C.Nadkarni
● Managing Director : Sunil Panse
● Tagline : Trusted over a century
● NKGSB Co-operative Bank is a leading multi-state co-operative bank and has always been at the
forefront of adding value to its products by establishing correspondent relationships and strategic
alliances.
RBI imposes monetary penalty on 4 Gujarat-based co-operative banks
● The Reserve Bank of India (RBI) has imposed monetary penalties on 4 co-operative banks,
ranging from Rs 50,000 to Rs 7 lakh, for some non-compliances. Entities Penalised :
1. Progressive Mercantile Co-operative Bank Limited., Ahmedabad, Gujarat: Rs 7 lakh
2. The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kachchh, Gujarat: Rs 3 lakh
3. Shree Morbi Nagarik Sahakari Bank Ltd., Morbi, Gujarat: Rs 50,000
.
4. Bhabhar Vibhag Nagarik Sahakari Bank Limited, Bhabhar, District Banaskantha, Gujarat: Rs
50,000
SEBI Extends Nomination Filing Deadline for Mutual Funds and Demat Accounts Until June 2024
● Capital markets regulator Securities and Exchange Board of India (SEBI) has once again
extended the deadline for mutual fund and demat account holders to add the name of the
beneficiary/beneficiaries or opt out of it till June 30, 2024.
● Earlier, the deadline for the same was December 31, 2023.
● The move is aimed at helping investors to secure their assets and pass them on to their legal
heirs.
● Nomination Filing Requirement : Investors are required to either select nominee(s) or explicitly
opt out of nomination by submitting a declaration before the extended deadline.
● Consequences of Missing Deadline : If investors fail to meet the nomination deadline, SEBI may
freeze debits from their holdings.
● Eligibility for Nomination : Only individuals holding demat accounts singly or jointly can nominate
beneficiaries.
● Nomination by Joint Holders : Joint holders are allowed to nominate, and in the event of one
holder's demise, the securities will be transferred to the surviving holders unless there is a
nominee.
● Nomination by NRIs : NRIs can directly nominate, but power of attorney holders cannot nominate
on their behalf.
● Exclusion of Minors : Minors are not eligible to nominate either directly or through a guardian.
● SEBI's Communication Directive : SEBI has instructed asset management companies (AMCs),
depository participants, and Registrar and Transfer Agents (RTAs) to regularly communicate with
demat account holders and mutual fund unit holders.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), Government of India (GoI).
.
RBI permits lending and borrowing of G-Secs
● The Reserve Bank of India (RBI) announced new guidelines focused on lending and borrowing
practices of government securities.
● Aim : To deepen the market for securities lending and borrowing and enhance the depth and
liquidity of the Government Securities (G-Sec) market.
● Under newly issued guidelines, Government Securities (excluding Treasury Bills) issued by the
central government are eligible for lending or borrowing through a Government Security Lending
(GSL) transaction.
● Further, G-Secs, including Treasury Bills and state government bonds, can also be used as
collateral in GSL transactions.
● Tenure and Flexibility : The minimum tenure for a GSL transaction is 1 day, while the maximum
period would be the maximum period prescribed to cover short sales.
● The guidelines also highlighted the flexibility in using different mutually agreed trading processes
or platforms for government securities lending transactions.
● Settlement Process : On the settlement front, the RBI stated that all GSL transactions shall settle
on a Delivery versus Delivery basis.
● This move comes even as India is set to be included in the globally tracked JP Morgan’s
Government Bond Index-Emerging Markets (GBI-EM) index, starting June 28, 2024.
● Valuation and Margin : Securities/collateral under a GSL transaction shall be valued
transparently at prevailing market prices in the first leg of the transaction and haircut/ margins
relating to GSL transactions shall be decided by the central counterparty settling the transactions.
● Use of Borrowed Securities : Further, entities engaging in GSL transactions may use borrowed
securities for various purposes like sales, meeting delivery obligations, and availing the RBI's
Liquidity Adjustment Facility.
● Market Participation and Returns : This move aims to broaden participation in the securities
lending market by providing investors an option to utilise idle securities, potentially boosting
portfolio returns.
Reserve Bank of India approves IDFC-IDFC First Bank merger
● The Reserve Bank of India (RBI) has given its approval for the reverse merger of IDFC Limited
and IDFC Financial Holding Company (IDFC FHCL) with its banking subsidiary IDFC First Bank.
.
● "This is in connection with our letter dated July 03, 2023 informing about the decision taken by
the Board of Directors of IDFC FHCL, IDFC and IDFC FIRST Bank approving the proposed
Scheme under Sections 230 to 232 of the Companies Act, 2013, the Companies (Compromises,
Arrangements and Amalgamations) Rules, 2016 and other rules and regulations framed
thereunder, subject to receipt of various statutory and regulatory approvals.
● Under the planned reverse merger method, an IDFC shareholder will receive 155 shares for
every 100 shares held in the bank.
● Each share is worth Rs 10 in face value.
● IDFC originated as an infra lender in 1997.
● The RBI granted it in-principle approval to establish a bank in April 2014, and in October 2015, it
established IDFC Bank when on-tap licensing began, following which IDFC’s debts and liabilities
were transferred to the bank.
About RBI :
● Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar
SEBI proposes same-day trade settlement on optional basis
● The Securities and Exchange Board of India (SEBI) has proposed the introduction of a facility for
clearing and settlement of funds and securities on T+0 (same day) and instant settlement cycle
on an optional basis.
● The facility will be in addition to the existing T+1 (trade plus one day) settlement cycle in the
secondary markets for the equity cash segment.
● Settlement is a two-way process which involves the transfer of funds and securities on the
settlement date.
● SEBI has shortened the settlement cycle to T+3 from T+5 in 2002 and subsequently to T+2 in
2003.
● Currently, the Indian stock market follows the cycle of T+1.
● The migration to the T+1 cycle came into effect in January 2023.
.
● India became the second country in the world to start the T+1 settlement cycle in top-listed
securities after China.
● In addition to the existing T+1 settlement cycle, a shorter settlement cycle may be introduced as
an option.
● The proposed changes are planned to be implemented in two phases.
★ Phase 1 - T+0 Settlement Cycle :
● An optional T+0 settlement cycle (for trades till 1:30 PM) is envisaged, with settlement of funds
and securities to be completed on the same day by 4:30 PM.
★ Phase 2: Instant Settlement Cycle
● An optional immediate trade-by-trade settlement (funds and securities) may be carried out. In the
second phase, trading will be carried out till 3.30 pm.
● Benefits of Instant Settlement : An instant settlement mechanism would enable instant receipt of
funds and securities, vis-a-vis existing pay-out on T+1 day.
AWARDS AND HONOUR

NATIONAL METALLURGIST AWARDS
• The National Metallurgist Award was announced.
• This award was announced by the Union Steel Ministry.
• Union Minister of State for Steel, congratulated the five distinguished metallurgists on being
conferred with coveted NMA 2022 in four categories.
The awardees and categories:-
• Dr Kamachi Mudali Uthandi - Lifetime Achievement Award
• Dr Debashish Bhattacharjee - National Metallurgist Award
• Dr Rameshwar Sah - R&D in Iron & Steel Sector
• Dr Niloy Kundu - Young Metallurgist (Environment) Award
• Agilan Muthumanickam - Award Young Metallurgist (Metal Science) Award
• India's production and consumption of steel during April-October 2023 YoY has grown by 15% to
about 82 million tonnes and 75.8 million tonnes respectively.
• India has achieved the status of 2nd largest steel producer globally.
Rizz crowned Oxford Word of the Year 2023
• After over 30,000 language lovers around the world got involved to help refine our shortlist of eight
words, we are pleased to announce that the Oxford Word of the Year 2023 is rizz.
.
• This year, we created a shortlist of eight words, all chosen to reflect the mood, ethos, or
preoccupations of the past year, and put them to the public to vote for their favourites.
• Through head-to-head competitions over a four-day voting period, the public narrowed down our
shortlist of worthy contenders to four finalists: rizz, Swiftie, prompt, and situationship. These words
were then put to our language experts, who considered our corpus data, the vote counts, and the
public commentary around the words to choose the definitive word of the year for 2023.
• .
Sheetal Devi win best young athlete award in APC conference
• Riyadh, (IANS) Hangzhou 2022 Asian Para Games gold medallist Asila Mirzayorova from
Uzbekistan and the winner of China’s historic first cross-country skiing gold medal, Peng Zheng
were announced as best female and best male athlete at the fourth edition of Asian Awards at an
awards ceremony during the Asian Paralympic Committee’s Conference and General Assembly.
• India’s Sheetal Devi, the ‘armless archer’ who went viral after her performances in Hangzhou
picked up the best youth athlete.
• Award winners were announced in six categories – Best Male Athlete, Best Female Athlete, Best
Youth Athlete, Best Team Performance, Best Photography and Exemplary Asian Official.
• The best photography award went to Masamine Kawaguchi from Japan for his images from Beijing
2022 Winter Paralympic Games which captured the dynamism, skill, and speed of the downhill
skiers.
NCRTC bags award for “Environmental Initiatives of Tunnelling” at TAI Tunnelling Awards 2023
• National Capital Region Transport Corporation (NCRTC) bagged the award in “Environmental
Initiatives of Tunnelling” category at the 4th edition of the prestigious TAI Tunnelling Awards 2023,
organised by the Tunnelling Association of India.
• National Capital Region Transport Corporation (NCRTC) won the 4th edition of the prestigious TAI
Tunnelling Awards 2023, organised by the Tunnelling Association of India.
• The NCRTC team was awarded under the “Environmental Initiatives of Tunnelling” category.
These awards celebrate the most ambitious underground projects in India as well as the latest
innovations, techniques, and methods in tunnelling.
Former Somali Refugee Wins Prestigious UN Award

• Abdullahi Mire of somalia has been named the winner of the UNHRC’s prestigious Nansen Award.
.
• Abdullahi Mire has received the award for giving 1,00,000 books to the hands of children in
Kenya’s crowded Dadaab refugee camps.
• Abdullahi Mire has spent 23 years in Dadaab, where 90,000 refugees reside.
Safeena Husain, Founder of Educate Girls, honoured with the WISE Prize for Education
• The prestigious WISE Award was honoured to Safina Hussain at the WISE 11 Summit (World
Innovation Summit for Education).
• The WISE Prize for Education is the first global award of its kind that honours an individual for
outstanding contributions to education.
About WISE Prize
• The WISE prize was established in 2009 by the Qatar Foundation under the visionary leadership of
its Chairperson, Her Highness Sheikha Moza bint Nasser.
• WISE (World Innovation Summit for Education) has evolved into an international, multi-sector
platform dedicated to promoting innovation and evidence-based approaches in education.
PR Icon Suganthy Sundararaj Receives PRSI National Award for Outstanding Contributions to
Healthcare Communications
• Suganthy Sundararaj received the PRSI National Award for Outstanding Contributions to
Healthcare Communications.
• She received the honour for Outstanding Contributions to the Public Relations Society of India and
the public relations industry.
• Suganthy Sundararaj received the Award at the International Public Relations Festival in New
Delhi.
• This event has brought together professionals and young minds from the PR space to facilitate
knowledge exchange.
• The Festival this year is being organized around the theme ‘G20: Showcasing Indian Values and
The Emerging India to the World: Opportunities for Public Relations’.
Taylor Swift named Time’s ‘Person of the Year’
• Taylor Swift is ending her year with another accolade: The pop superstar was named Time
magazine’s 2023 “Person of the Year,” beating out Barbie and King Charles III.
• Time said Swift was selected because she found a way to give people around the world hope in
some seriously dark times.
.
• Swift broke her own Spotify record by becoming the most-streamed artist in a single day in the
streamer’s history, while “1989 (Taylor’s Version)” became Spotify’s most-streamed album in a
single day this year.
• Ukrainian President Volodymyr Zelensky was Time’s 2022 person of the year.
• Taylor Swift was named TIME’s 2023 Person of the Year—making her the first woman to appear
twice on a Person of the Year cover since the franchise began in 1927.
NTPC Wins Two Silver Awards in Brandon Hall Group’s Excellence in Technology Awards
• NTPC, India’s largest integrated power company, has been declared as the winner at the Brandon
Hall Group’s Excellence in Technology Awards 2023 in an online broadcast held.
• NTPC stands out as the only PSU in India to secure dual accolades in the Technology Awards
category.
• The company received the coveted silver awards in two distinct categories: "Best Advance in
Corporate Wellbeing Technology" and "Best Advance in Augmented and Virtual Reality."
• This recognition underscores NTPC's commitment to innovation and technological excellence,
placing it at the forefront of advancements in corporate wellbeing and immersive technologies.
2022 FIFA World Cup winner Lionel Messi named Time Magazine's Athlete of the Year for 2023
• Football superstar Lionel Messi has been named as Time Magazine's 2023 Athlete Of The Year.
• The 36-year-old won his record-extending eighth Ballon d'Or Award in October, and scored 11
goals in 14 games across competitions for Inter Miami - after joining them in July - to 4help the
Major League Soccer (MLS) club lift the Leagues Cup trophy for the first time.
• Argentina defeated the reigning champions France in the World Cup final in December of last year,
Messi was a major factor in leading his country to its first victory in 36 years.
Writer Pushpa Bharati’s memoir selected for Vyas Samman award
● Pushpa Bharati’s from Moradabad of Uttar Pradesh 2016 memoir ‘Yaadein, Yaadein aur Yaadein’
has been selected for the 33rd Vyas Samman.
● The award is presented to an outstanding Hindi literary work by an Indian citizen published during
the last 10 years.
● A selection committee headed by eminent litterateur Prof Ramji Tiwari picked Bharati’s Yaadein,
Yaadein aur Yaadein for the Vyas Samman award.
● The award carries a cash prize of ₹4 lakh, a citation and a plaque.
● The Vyas Samman Award was instituted in 1991. It is given by the KK Birla Foundation.
Kabir Bedi feted with Italy's highest civilian honour
.
● Kabir Bedi has been honoured with the highest civilian honour of Italy.
● He was awarded the Order of Merit of the Italian Republic (Merito della Repubblica Italiana).
● Niccolo Fabi gave a unique live musical performance following the occasion in Mumbai.
● The Order of Merit is Italy’s highest honour.
● It’s even higher than Cavaliere (Knight).
Javed Akhtar to be felicitated with Padmapani Lifetime Achievement Award at the Ajanta-Ellora Film
Festival
● Veteran lyricist-screenwriter Javed Akhtar will be honoured with the Padmapani Lifetime
Achievement Award at the Ajanta-Ellora Film Festival.
● The award ceremony will take place at Rukmini Auditorium in the MGM University campus.
● The Padmapani Award selection committee comprises Girish Kasarvall, Ashok Vajpeyi, Latika
Padgaonkar, Ashok Rane and Chandrakant Kulkarni.
● Ajanta-Ellora International Film Festival is to showcase the best of film produced recently and in the
past.
● It is organized by Marathwada Art Culture and Film Foundation.
● It will be organized by 3rd-7th January, 2024.
Activist Ali Abu Awwad and pianist Daniel Barenboim win the Indira Gandhi Peace Prize
● 2023 Indira Gandhi Prize for Peace, Disarmament, and Development awarded to Ali Abu Awwad
and Daniel Barenboim.
● The award has been given for their efforts in bringing together the youth and peoples of Israel and
the Arab World for a non-violent resolution of the Israel-Palestine conflict.
● Former Chief Justice of India T.S. Thakur chaired the International Jury of the Indira Gandhi Prize for
Peace, Disarmament and Development.
● Maestro Barenboim is an Argentine-born, distinguished classical pianist and conductor, renowned
for performing with and directing some of the world's leading orchestras.
● Mr. Awwad is a distinguished Palestinian peace activist who has been working tirelessly with the
people of Palestine and Israel for a peaceful resolution to the ongoing conflict in the Middle East.
● This award is given to doctors, nurses, paramedics, and karamchari for their selfless service,
unwavering dedication, and perseverance in the face of adversity.
● The award is given annually by the Indira Gandhi Memorial Trust to individuals or organizations.
● The award carries a cash award of 2.5 million Indian rupees and a citation.
Indian Armed Forces officers awarded ‘Golden Owl’ for outstanding performance at DSCSC Sri Lanka
.
● Indian Armed Forces officers have been awarded the 'Golden Owl' for their outstanding
performance.
● The officers were undergoing the Command and Staff Course at the Defence Services Command
and Staff College (DSCSC) in Sri Lanka.
● The DSCSC course is designed to prepare senior officers for leadership roles in joint operations and
higher command.
● The award was given to Wing Commander Sumeet Mahajan, Major Rohit and Lieutenant
Commander Sunny Sharma by Sri Lankan President Ranil Wickremesinghe.
● The “Golden Owl” award admires strategic thinking, analytical skills and potential for future
leadership.
● Recently, the joint military exercise between India and Sri Lanka concluded at the Southern
Command Foreign Training Node, Aundh in Pune.
ET Awards for Corporate Excellence: Levers of growth meet shades of talent at Chanel
● Leena Nair, the global CEO of luxury brand Chanel, has several significant firsts to her credit.
● At Unilever, Nair, 54, was the first woman to lead global human resources. And then, Chanel
appointed her as its first global CEO of Indian origin.
● She was a fashion industry outsider when picked by the French fashion house to lead it in 2022.
● She has been chosen for the Global Indian Award.
● The State Bank of India, the country’s largest lender, bagged the coveted Company of the Year
award in a unanimous vote for its spectacular turnaround from heavy losses a few years ago.
● The power-packed jury headed by Tata Sons chairman N Chandrasekaran picked external affairs
minister S Jaishankar as Reformer of the Year for his stellar efforts in defending and furthering
India’s economic and trade interests amid a geopolitical minefield.
● The Lifetime Achievement Award went to AM Naik, chairman emeritus, Larsen & Toubro, for building
the company into an economic bellwether of the country with a presence across defence,
manufacturing, technology and construction.
● HDFC Bank was selected as the Conscious Corporate of the Year for using its Rs 800 crore
corporate social responsibility (CSR) corpus for community development.
Former bureaucrat Poonam Khetrapal Singh honoured by Bhutanese King

● Dr Poonam Khetrapal Singh has been awarded Bhutan’s National Order of Merit Gold Medal.
● Dr Poonam Khetrapal Singh is the WHO Regional Director (South-East Asia).
.
● The King of Bhutan Jigme Khesar Namgyel Wangchuk honoured her at Bhutan’s 116th National Day
celebration.
● She is the first woman regional director of the WHO South-East Asia region.
● During her tenure, Bhutan became one of the first countries to eliminate measles and rubella ahead
of schedule.
UNESCO award for Amritsar's Rambagh Gate & Ramparts, Gurdaspur’s Peepal Haveli
• UNESCO has awarded Rambagh Gate and Ramparts in Amritsar, Punjab.
• It has also awarded heritage conservation projects related to Haryana's Church of Epiphany and
Delhi's Bikaner House.
• The Rambagh Gate and Ramparts project received the highest honor, the 'Award of Excellence'.
• It received the award for its inclusivity and access to the broader community.
• Three projects, namely the Fanling Golf Course in Hong Kong SAR, China; Dongguan Garden
Residences in Yangzhou, China; and Karnikara Mandapam at Kunnamangalam Bhagawati Temple,
Kerala, India, garnered an Award of Distinction
• Every year, since 2000, the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation
programme has been recognizing the efforts of private individuals and organizations in restoring,
conserving, and transforming structures and buildings of heritage value in the region.
• This year, the awards panel recognised twelve projects from China, India, and Nepal.
• Five projects are from China, six are from India, and one is from Nepal.
Poet Sukrita Paul Kumar bags Tagore Literary Prize
• Sukrita Paul Kumar has won the sixth edition of the Rabindranath Tagore Literary Prize for her book,
'Salt & Pepper: Selected Poems'.
• She received USD 5,000, a Tagore statue and a certificate for contribution to literature at the award
ceremony.
• The award was started in 2018 by US-based publisher Peter Bundalo.
• The award is a platform for world peace, literature, art, education and human rights.
• It also recognises works towards human rights and world peace with the Social Achievement Prize.
• Journalist-author Raj Kamal Jha won the prize last year for his novel 'The City and The Sea'.
ISRO bags Leif Erikson Lunar Prize for Chandrayaan-3
● ISRO has been awarded the Leif Erikson Lunar Prize by the Husavik Museum for its achievements
in advancing lunar exploration and contributing to understanding celestial mysteries through the
successful Chandrayaan-3 mission.
.
● The Leif Erikson Lunar Prize is an annual award presented by the Exploration Museum in Husavik,
Iceland.
● It is dedicated to the history of human exploration, from the early explorers to the exploration of
space.
● It is named after the Icelandic explorer Leif Erikson who is considered the first European to land in
North America.
About Indian Space Research Organisation
● Headquarters: Bengaluru
● Founder: Vikram Sarabhai
● Founded: 15 August 1969
Mumbai professor wins prestigious award for contribution to chemistry
● Professor Savita Ladage from Mumbai’s Homi Bhabha Centre for Science Education (HBCSE), Tata
Institute of Fundamental Research (TIFR) has been named winner of the Royal Society of
Chemistry’s (RSC) Nyholm Prize for Education in recognition of her contribution to chemistry
education.
● It is awarded to inspirational, innovative and dedicated individuals or teams making a substantial and
sustained impact within education.
● This prize was established to commemorate the life and work of Sir Ronald Nyholm, president of the
Royal Society of Chemistry from 1968 to 1970.
● For 2023, the prize was open to nominees based anywhere in the world.
● The winner(s) receives £5000, a medal and a certificate.
● The winner(s) will complete a series of lectures or workshops in the UK.
● The winner(s) will be chosen by the Education Prize Committee.
APPOINTMENTS & RESIGNATIONS

Madagascar Court Upholds Andry Rajoelina's Presidential Election Victory
• Madagascar's Constitutional Court has confirmed President Andry Rajoelina re-election following a
controversial election a fortnight ago.
• The court said Mr Rajoelina secured 59% of the votes cast, declaring him elected for a third term.
• It dismissed complaints by the opposition over the credibility of the vote, which recorded a low
turnout of 46%.
.
• 10 out of 13 presidential contenders had withdrawn their candidacies but their names remained on
the ballot.
• Mr Rajoelina defeated his two closest rivals, Siteny Randrianasoloniaiko and ex-President Marc
Ravalomanana, who got 14% and 12% of the vote respectively.
About Madagascar :
• Capital: Antananarivo
• Currency: Malagasy Ariary.
Pradeep Kumar Pal (IRSSE) Assumes Director Role at UPSC

• Pradeep Kumar Pal, an officer from the Indian Railway Service of Signal Engineers (IRSSE) of the
2009 batch, has been selected for the position of Director in the Union Public Service Commission
(UPSC).
• According to an order issued from the Department of Personnel & Training (DoPT), Pal has been
selected for the appointment under the Central Staffing Scheme for a period of 5 years from the
date of taking over charge of the post or until further orders, whichever event takes place earlier.
About UPSC :
• Founded: 1 October 1926
• Headquarters : New Delhi, Delhi
• Chairperson: Manoj Soni.
• Union Public Service Commission, commonly abbreviated as UPSC, is India's premier central
recruitment agency for recruitment of all the Group 'A' officers under Government of India.
Microsoft hires ex-OpenAI leaders Altman and Brockman to lead new AI group
• Microsoft’s Chief Executive Officer (CEO) Satya Nadella, stated that the company has hired
OpenAI co-founders Sam Altman and Greg Brockman to lead a new advanced AI research team.
• The announcement followed closely after OpenAI's board of directors stated that Sam Altman
would not be returning to his position at OpenAI.
• The sudden removal of Sam Altman surprised not only OpenAI's employees but also major
investors, including Microsoft.
Air Force officer Manisha Padhi appointed as India’s first woman Aide de Camp
.
• Mizoram Governor Dr Hari Babu Kambhampati has appointed a woman Indian Air Force officer
from Odisha, squadron leader Manisha Padhi, as India's first Woman Aide-De-Camp (ADC) from
the Indian Armed Forces at a brief ceremony held at the Raj Bhawan in Aizawl.
About Manisha Padhi :
• Padhi is a 2015-batch Indian Air Force officer.
• Previously, Sqn Leader Manisha Padhi was posted to three postings - Air Force Station, Bidar, Air
Force Station, Pune, and lastly at Air Force Station, Bhatinda.
HDFC Bank’s board approves appointment of Bhanwala as Additional Independent Director

• The Board of Directors of HDFC Bank has approved the appointment of Harsh Kumar Bhanwala
as an Additional Independent Director of the Bank for 3 years from January 25, 2024.
• The Board has also given the green light to the appointment of V Srinivasa Rangan as Executive
Director (Whole-time Director) for 3 years, effective from November 23, 2023.
About HDFC Bank :
• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World
Veera Rana Creates History as Second Female Bureaucrat Appointed Chief Secretary of Madhya
Pradesh
• Senior Indian Administrative Service (IAS) officer Veera Rana, from the 1988 batch, has been
appointed the Chief Secretary of Madhya Pradesh (MP) as an additional charge.
• Veera Rana's appointment marks the 2nd time a woman officer has taken on the role of Chief
Secretary in Madhya Pradesh.
• The first woman to hold this position was Nirmala Buch, a 1960 batch officer, during the BJP
government in 1991.
About Veera Rana :
• Veera Rana was born on March 26, 1964, in Uttar Pradesh.
• She has held the portfolios of Chief Electoral Officer, Sports and Youth Welfare, Academy of
Administration and Department of Cottage and Village Industries.
• She is currently the chairperson of the Madhya Pradesh Board of Secondary Education (MPBSE)
and holds the additional charge of agriculture production commissioner.
.
Rajat Kumar Jain was appointed as the Chairman of Fino Payments Bank
• Mumbai-based Fino Payments Bank has received approval from the Reserve Bank of India (RBI)
for the appointment of former managing director of Xerox India and Walt Disney India, Rajat Kumar
Jain, as its part-time chairman.
• The RBI has approved the appointment with effect from November 24, 2023 till November 1, 2025.
About Rajat Kumar Jain :
• Rajat Kumar Jain, an alumnus of IIT Delhi and IIM Ahmedabad, is an accomplished corporate
executive turned entrepreneur, business mentor/angel investor and serves as a non-executive
director on various Boards including group companies of Aditya Birla and Mahindra conglomerates.
• He is the Founder and Director of PadUp Ventures, a knowledge and mentoring platform that
provides deep mentoring, incubation, and acceleration services to early-stage tech startups across
sectors, including Fintech.
About Fino Payments Bank :
• Headquarters: Navi Mumbai, Maharashtra
• MD & CEO : Rishi Gupta
AS-IT-IS Nutrition Appoints Ravindra Jadeja, Indian Cricket Sensation, as Brand Ambassador
• AS-IT-IS Nutrition, a trusted leader in the fitness and sports nutrition sector, has signed Ravindra
Jadeja, the celebrated Indian cricketer, to their distinguished brand ambassador lineup.
• AS-IT-IS Nutrition stands out for its commitment to delivering nutritional products in their most
natural form, without any added fillers or additives.
About AS-IT-IS Nutrition :
• Founders : Arvind Jain, Himmath Jain
• Director : Pavan Jain
Congress Designates Revanth Reddy as Chief Minister Candidate for Telangana
• Telangana Congress President, Anumula Revanth Reddy, appointed as the new Chief Minister of
Telangana.
• Revanth Reddy was named the Leader of the Congress Legislature Party (CLP), marking his
.
ascent as the first Congress Chief Minister of Telangana, a State formed in 2014.
• The swearing-in ceremony is scheduled for December 7, 2023 in Hyderabad, where Revanth
Reddy will officially take office.
• He would be sworn-in as the second chief minister of Telangana, which was carved out from
Andhra Pradesh in 2004, on December 7 in Hyderabad, succeeding K Chandrashekar Rao (KCR).
About Revanth Reddy :

• Revanth Reddy was born on 8 November 1969 at Kondareddy Palli of Mahboobnagar district (in
present-day Nagarkurnool district, Telangana, India).
• He was elected as MLA from Kodangal constituency on Telugu Desam Party (TDP) ticket in 2009
and 2014.
• In 2017, he defected to Indian National Congress, the main opposition party after 2014 elections.
• Though he lost his Kodangal MLA seat in 2018, he was elected as a Member of Parliament (MP)
representing the Malkajgiri constituency in 2019.
• He was appointed as president of Telangana Pradesh Congress Committee replacing N. Uttam
Kumar Reddy in July 2021.
About Telangana:
Vishnu Deo Sai to be sworn in as Chief Minister of Chhattisgarh
• Bharatiya Janata Party leader Vishnu Deo Sai will take oath as the new Chhattisgarh chief minister
on December 13, 2023 in Raipur.
• He will be the 4th Chief Minister of the state and the 1st tribal Chief Minister.
• Sai hails from the influential Sahu (Teli) community which has a sizable presence in Durg, Raipur
and Bilaspur divisions.
• The BJP won 54 seats in the 90-member Assembly in the recently held polls, unseating the
Bhupesh Baghel-led Congress government. The Congress ended with 35 seats, down from 68 it
won in 2018.
About Vishnu Deo Sai :
• Vishnu Deo Sai served as State President of Bharatiya Janata Party for Chhattisgarh from 2020
until 2022.
• He was Union Minister of State for Steel in the First Modi ministry.
.
• He was a member of the 16th Lok Sabha representing the Kunkuri constituency of Chhattisgarh.
About Chhattisgarh :
• Governor : Biswabhusan Harichandan
• Capital : Nava Raipur
• National park : Indravati National Park
• Wildlife Sanctuaries : Barnawapara Wildlife Sanctuary, Sitanadi Wildlife Sanctuary
World Radiocommunication Conference 2023 appoints UAE's Mohammed Al Ramsi as Chairman
• The United Arab Emirates’s (UAE) Mohammed Al Ramsi appointed as the Chairman of the World
Radiocommunication Conference (WRC) 2023.
• This appointment marks the fulfilment of the decision taken by the WRC during its last session in
Sharm El Sheikh, Egypt in 2019.
• This conference started from 20th November and will continue till 15th December in Dubai, UAE.
• This year, more than 4,000 government officials and 900 international organisations from 193
countries are attending the conference.
About UAE :
• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham
Narayan Sheshadri appointed as IDRCL chair & incumbent Diwakar Gupta to head NARCL
• Former KPMG managing partner Narayan Seshadri will take over as chairman of the India Debt
Resolution Co Ltd (IDRCL), the agent to the government-backed bad bank.
• The IDRCL chairman position became vacant after Diwakar Gupta resigned earlier this week to
take up a post at parent National Asset Reconstruction Co Ltd (NARCL).
• Seshadri, a chartered accountant, is a financial sector veteran with experience in buying and
turning around distressed companies.
• He is currently an independent director in the company and will take over immediately.
Kanchan Devi Makes History as First Female Officer Appointed as Director General of ICFRE
.
• Kanchan Devi has become the first woman Director General of the Indian Council of Forestry
Research Education (ICFRE).
• Kanchan Devi is an Indian Forest Service officer from the 1991 batch of the Madhya Pradesh
cadre.
• She brings to her new role an impressive track record of over 30 years in the realm of forestry.
• Her extensive expertise spans a myriad of aspects, including forest management, administration,
education, human resource development, research, and extension.
• She played an important role in setting up the Centre of Excellence on Sustainable Land
Management.
About ICFRE :
• Headquarters : Dehradun, Uttarakhand.
• Indian Council of Forestry Research Education is an autonomous organisation under the Ministry
of Environment, Forest and Climate Change (MoEFCC), Government of India. .
• It plays an important role in advising on forestry research and technologies to the Government of
India, State Governments and various stakeholders including farmers, industries and academia.
• It explores new issues in the realm of forest conservation.
ZPM Chief Lalduhoma Set to Take Oath as New Chief Minister of Mizoram
• Lalduhoma will take oath as the 6th Chief Minister (CM) of Mizoram.
• His swearing-in ceremony will be held at Raj Bhawan in Aizawl.
• Governor Hari Babu Kambhampati will administer the oath to Mr Lalduhoma.
• During the ceremony, several other ZPM leaders also took oath as ministers.
• Lalrinpuii is the lone woman minister in the 12-member council of ministry.
• 7 of the 12 ministers are first time winners.
• The other ministers who took oath include, K. Sapdanga, Vanlalhlana, C. Lalsawivunga,
Lalthansanga, Dr. Vanlalthlana, P.C. Vanlalruata, Lalrinpuii, all cabinet ministers rank F.
Rodingliana, B. Lalchhanzova, Prof. Lalnilawma and Lalnghinglova Hmar, all ministers of state
rank.
About Mizoram :
• Governor : Kambhampati Hari Babu
• Capital : Aizawl
.
• Tiger Reserve : Dampa Tiger Reserve

• National Park : Murlen National Park, Phawngpui Blue Mountain National Park
• Wildlife Sanctuaries : Khawnglung Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tokalo Wildlife
Sanctuary
• Ramsar Site : Pala Wetland
India-born media veteran Dr. Samir Shah appointed as the new chairman of the BBC
• Dr Samir Shah, an India-born media executive with over 40 years of experience in TV production
and journalism, has been named as the United Kingdom (UK) government's preferred candidate to
take over as the new BBC chairman.
• Dr Shah will replace Richard Sharp, who was forced to resign after his communication with former
prime minister Boris Johnson came under scrutiny.
• Shah will now be quizzed by cross-party MPs of the House of Commons Media Culture, Media and
Sport Select Committee for pre-appointment scrutiny before formally taking charge of the public
service broadcaster.
Hindustan Unilever Limited Appoints Former Revenue Secretary Tarun Bajaj as Independent Director
for a 5-Year Term
• Hindustan Unilever Limited (HUL) has appointed Tarun Bajaj (61) as an independent director on its
board, effective 1st December 2023, for a period of 5 years.
• Bajaj belongs to the Indian Administrative Service, 1988 batch, Haryana Cadre.
• He was the Revenue Secretary, Govt of India before superannuating in November 2022.
• He also contributed towards a significant increase in revenue collections under GST and Income
Tax.
•
About HUL :
• MD & CEO : Rohit Jawa
• Hindustan Unilever Limited is a British-owned Indian Final goods company.
• It is a subsidiary of the British company Unilever.
• Its products include foods, beverages, cleaning agents, personal care products, water purifiers and
other fast-moving consumer goods (FMCGs).
.
Mohan Yadav Takes Oath as the 19th Chief Minister of Madhya Pradesh
● Mohan Yadav, the BJP legislature party leader and MLA from Ujjain South, was sworn in as the
19th Chief Minister of Madhya Pradesh (MP) replacing Shivraj Singh Chouhan.
● The 58-year-old leader was administered the oath of office by Governor Mangubhai Patel at the
Lal Parade Ground in State capital Bhopal, MP.
● BJP legislators Jagdish Devda and Rajendra Shukla were sworn in as the Deputy Chief Ministers
by the Governor.
● Mr. Tomar will be the next Assembly Speaker.
Donald Tusk elected as the new Prime Minister of Poland
● After current leader Mateusz Morawiecki lost a confidence vote in parliament, Donald Tusk was
elected as the new Prime Minister (PM) of Poland.
● Donald Tusk received 248 votes in favour while 201 voted against him.
● The reign of the outgoing right-wing populist Law and Justice (PiS) party witnessed numerous
disputes with the EU over many issues.
About Poland :
● President : Andrzej Duda
● Capital : Warsaw
● Currency : Polish Zloty
Indian social activist Nikhil Dey was named as International Anti-Corruption Champion by US State
Department
● Nikhil Dey, an Indian social activist, has been named as the International Anti-Corruption
Champion by the US State Department.
● The US Bureau of International Narcotics and Law Enforcement Affairs stated that it recognises
Dey as an Anti-Corruption Champion for his important role in social movements aimed at
transparency and accountability, public audits, and participatory democracy to counter corruption
in government welfare programmes in India.
● Dey's efforts as a co-founder of Mazdoor Kisan Shakti Sangathan (MKSS) contributed to anti-
corruption and transparency reforms in India, assisting the state of Rajasthan in establishing
public policies that promote accountability and transparency.
Parama Sen appointed as a part-time member of the Pension Fund Regulatory and Development
Authority board
● The Centre has appointed Parama Sen, Additional Secretary, Department of Expenditure in the
.
Finance Ministry, as a part-time member of the Pension Fund Regulatory and Development
Authority (PFRDA).
● All three part-time member positions on the PFRDA board have been filled.
● Sen, a 1994 batch Indian Audit and Accounts Services (IAAS) officer, replaces Anne George
Mathew, Additional Secretary in the Finance Ministry, who demitted office this year.
About PFRDA :
Guinea-Bissau president reappoints Geraldo Martins as Prime Minister
● Guinea-Bissau’s President Umaro Sissoco Embalo has reappointed Geraldo Martins as prime
minister (PM) after dissolving his government.
● Geraldo Martins was first appointed prime minister in August, 2023.
About Guinea-Bissau :
● President : Umaro Sissoco Embaló
● Capital : Bissau
● Currency : West African CFA franc
Israeli Ministry of Foreign Affairs Designates Reuven Azar as New Ambassador to India
● The Israeli government approved the appointment of Reuven Azar as the new Ambassador to
India.
● Mr. Azar will also concurrently serve as the non-resident Ambassador to Sri Lanka and Bhutan.
● His appointment is one of the 21 new Heads of Missions cleared by the Israeli government to
assume service soon.
● Azar was born in Argentina and has a diverse and extensive background in various diplomatic
roles.
● Mr. Azar is currently serving as the Ambassador of Israel to Romania.
About Israel :
● President : Isaac Herzog
● Prime Minister : Benjamin Netanyahu
● Capital : Jerusalem
.
● Currency : New shekel

India’s Uma Sekhar gets elected to Governing Council of UNIDROIT
● In a historic moment for India, India’s first woman candidate, Ms. Uma Sekhar secured a
remarkable victory by garnering 45 out of 59 votes in the initial round of elections for the
Governing Council of the International Institute for the Unification of Private Law (UNIDROIT)
held in Rome, Italy.
● With this, India will be a member of the Governing Council for the period from 1 January 2024- 31
December 2028.
● Notably, the Governing Council consists of 25 positions, all of which are held by distinguished
legal experts.
● The candidates from Russia, the United States of America (USA) and China failed to win
positions on the governing council.
● In the election, there were 32 contestants in the fray including those from the USA, China, Saudi
Arabia, Turkey, France, and others.
About UNIDROIT :
● Headquarters : Rome, Italy
● Secretary General : Professor Ignacio Tirado
● Members : 65 Member States
● UNIDROIT is an intergovernmental organization whose objective is to harmonize private
international law across countries through uniform rules, international conventions, and the
production of model laws, sets of principles, guides and guidelines
● Its purpose is to study needs and methods for modernising, harmonising and co-ordinating
private and in particular commercial law as between States and groups of States and to
formulate uniform law instruments, principles and rules to achieve those objectives.
● Structure : It has an essentially three-tiered structure, made up of a Secretariat, a Governing
Council and a General Assembly.
● The Secretariat is the executive organ of UNIDROIT responsible for carrying out its Work
Programme from day to day.
● It is headed by a Secretary-General appointed by the Governing Council on the nomination of the
President of the Institute.
● The General Assembly is the ultimate decision-making organ of UNIDROIT.
● India has been a member of this organisation since 1950.
.
RBI Grants Approval for 2-Year Extension of Sandeep Batra as Executive Director at ICICI Bank
● The Reserve Bank of India (RBI) has approved the reappointment of Sandeep Batra as
Executive Director of ICICI Bank, effective from December 23, 2023, to December 22, 2025.
● This renewed term of two years is within the five-year term previously approved by the
shareholders.
● Batra is an ED on the Board of ICICI Bank and has been responsible for the Corporate Centre
since July 2018.
● He also serves on the board of ICICI Prudential Life Insurance, ICICI Lombard General
Insurance, ICICI Prudential Asset Management and ICICI Venture.
About ICICI Bank :
● Headquarters : Mumbai , Maharashtra, India
Sanjay Singh elected as new president of Wrestling Federation of India
● Sanjay Kumar Singh has won the election for the new president of the Wrestling Federation of
India (WFI).
● He got 40 votes in the election.
● The other applicant, Commonwealth Games gold medal-winning wrestler Anita Sheoran got 7
votes.
● Mr Singh is also the vice president of the Uttar Pradesh (UP) Wrestling Association.
● He previously served on the WFI’s executive council.
● He has also been its joint secretary since 2019.
● He will succeed controversial Brij Bhushan Sharan Singh as WFI chief.
● Brij Bhushan Sharan Singh was forced to resign from his position after some wrestlers made
accusations against him.
About WFI :
.
● President : Sanjay Kumar Singh

● The Wrestling Federation of India is the governing body of wrestling in India.
Quaker ropes in celebrity couple Kiara Advani and Sidharth Malhotra as brand ambassadors
● satPepsiCo India has roped in celebrity couple Kiara Advani and Sidharth Malhotra brand
ambassador for brand Quaker.
● The new brand ambassadors will play a pivotal role in forthcoming campaigns and launches
deepening engagement with the audiences.
● Quaker Oats was launched in India in 2006.
● The range includes Quaker Plain Oats, Quaker Oats Multigrain, Quaker Oats with Flavour Mix
and Quaker Oats Muesli.
Satish Kumar Kalra Appointed as Interim Managing Director & Chief Executive Officer of North East
Small Finance Bank
● Bengaluru-based fintech Slice-backed North East Small Finance Bank (NESFB) has appointed
Satish Kumar Kalra as its interim Managing Director (MD) and Chief Executive Officer (CEO).
● The appointment has been approved by the Reserve Bank of India (RBI).
● The ownership of the merged entity primarily rests with Slice shareholders, holding a 95-97%
stake, while the remainder belongs to North East SFB shareholders.
● Slice, backed by investors like Tiger Global, Insight Partners, EMVC and Blume Ventures, was
valued at approximately USD 1.5 billion in its latest funding round in 2022.
● Kalra served as the Managing Director & CEO (In-charge), and Executive Director of Andhra
Bank from 2012 to 2017.
● He has also served as an independent director at Lakshmi Vilas Bank from Dec 2019 to May
2021.
● Kalra's prior roles include independent director positions at PNB GILTS, Indbank Merchant
Banking Services, JK Cement and CAN FIN Homes.
● Currently, he is an independent director at Can Fin Homes Limited.
SEBI approves appointment of ex-IAS Pramod Agrawal as BSE Chairman
.
● The Securities and Exchange Board of India (SEBI) has given its nod to the appointment of
Pramod Agrawal, the former Chief of Coal India, as the Chairman of the Bombay Stock
Exchange (BSE).
● His appointment will become effective from January 17, 2024.
● He will take the place of SS Mundra, who was appointed as BSE chairman in May 2022.
● Pramod Agrawal, a distinguished former Indian Administrative Service (IAS) officer of the
Madhya Pradesh cadre, brings a diverse professional background to his new role.
● He has served as the Principal Secretary of the Department of Technical Education, Skill
Development & Employment and the Department of Labor, Government of Madhya Pradesh.
● He served as Coal India Chairman from February 2020 to June 2023.
About BSE :
● Founded : 9 July 1875
● MD & CEO : Sundararaman Ramamurthy
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
● Headquarters: Mumbai, Maharashtra
● Chairman: Madhabi Puri Buch
the Ministry of Finance, GoI.
Sony Sports Network ropes in Bollywood actor Kartik Aaryan as brand ambassador for football
● Sony Sports Network, the destination for football in India, has joined hands with Bollywood’s Gen
Z actor and youth icon - Kartik Aaryan to become their brand ambassador for football.
● Sony Sports Network has launched the first film from the ‘Your Home of Football’ campaign
which will be followed by four additional films in the coming weeks.
IPS Nina Singh is CISF's first woman chief; Anish Dayal Singh appointed CRPF head
.
● The Central Industrial Security Force (CISF) was assigned its first woman chief in Nina Singh,
who has been appointed as the Director-General (DG).
● Nina Singh, a 1989-batch IPS officer of Rajasthan cadre, is currently working as Special DG,
CISF.
● She has been appointed to the post till her superannuation on July 31, 2024, the order stated.
● Nine Singh has been with the CISF since 2021 and will remain at the helm till her retirement on
July 31 next year.
About Nina Singh:
● Nina Singh is from Bihar and has studied at the Patna Women's College, and the Jawaharlal
Nehru University.
● She also holds a Master's degree in Public Administration from Harvard University.
● Nina Singh achievements include becoming the first woman to hold the top police post in
Rajasthan.
● Six officers are in the Director General rank in the state police force.
About Anish Dayal Singh:
● Further, the Union Ministry of Home Affairs headed by Amit Shah, appointed Indo-Tibetan Border
Police (ITBP) chief Anish Dayal Singh as the Director General of Central Reserve Police
Force (CRPF).
● Anish Dayal Singh, a 1988-batch Indian Police Service (IPS) officer of Manipur cadre, was
holding the additional charge of the CRPF following the retirement of incumbent S L Thaosen on
November 30.
MOUS AND AGREEMENT

Nasscom signs MoU with NRW Global to establish launchpad in Germany
• An MoU has been signed between Nasscom and NRW Global to establish a launchpad in
Germany.
• The MoU has been signed to promote innovation, investment, and technological exchange
between North Rhine-Westfalia (NRW) in Germany and India.
• The state-owned foreign trade promotion agency NRW Global Business is the partner for all
companies to investment projects and settling in North Rhine-Westphalia.
About NASSCOM
.
• The National Association of Software and Service Companies is an Indian non-governmental trade
association and advocacy group that primarily serves the Indian technology industry.
• Founded in 1988, NASSCOM operates as a nonprofit organization and serves as a key entity
within the Indian technology sector. Chairperson: Krishnan Ramanujam
UNLF signs peace agreement with Centre & Manipur government
• Government of India and Government of Manipur signed a Peace Agreement with United National
Liberation Front (UNLF), the oldest valley-based armed group of Manipur in New Delhi.
• The UNLF was formed in 1964 and has been operating both within and outside Indian Territory.
• A Peace Monitoring Committee (PMC) will be constituted to oversee enforcement of the agreed
ground rules.
• The development is likely to be a significant step in restoring peace and normalcy in the State.
NLCIL Signs MoU with TNSDC & NTTF for Skill Development Training Programme for Unemployed
Youth
• NLC India Limited, a Navratna PSU under the Ministry of Coal, entered into a tripartite
Memorandum of Understanding (MoU)in Chennai with Tamil Nadu Skill Development Corporation
(TNSDC), the Nodal Agency of Government of Tamil Nadu for skill development and M/s Nettur
Technical Training Foundation (NTTF), Bengaluru, a pioneer institution on providing skill training to
unemployed youth, to meet the present industry demands.
• NLCIL has committed to spend Rs1.12 lakh per candidate for this free residential programme
under its budget for Rehabilitation and Resettlement (R&R).
NLCIL Signs MoU with TNSDC & NTTF for Skill Development Training Programme for Unemployed
Youth
• NLC India Limited, a Navratna PSU under the Ministry of Coal, entered into a tripartite
Memorandum of Understanding (MoU) in Chennai with Tamil Nadu Skill Development Corporation
(TNSDC), the Nodal Agency of Government of Tamil
Nadu for skill development and M/s Nettur Technical Training Foundation (NTTF), Bengaluru, a
pioneer institution on providing skill training to unemployed youth, to meet the present industry
demands.
• This collaboration of NLCIL, TNSDC & NTTF will impart job-oriented skill development training for
540 wards of project affected families (PAFs’) of NLCIL’s operating areas in Neyveli.
• NLCIL has committed to spend Rs1.12 lakh per candidate for this free residential programme
under its budget for Rehabilitation and Resettlement (R&R).
.
UNICEF in collaboration with India to launch the "Green Rising" initiative at the COP28 Summit in Dubai
• UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and
Climate Change will unveil the "Green Rising" initiative at COP28 in Dubai.
• The global "Green Rising" initiative and the "Green Rising India Alliance" marks a collaborative
effort involving UNICEF, Generation Unlimited, and a diverse network of public, private, and youth
partners.
• The main goal is to mobilize millions of young people worldwide, encouraging their active
participation in green initiatives addressing and adapting to the severe impacts of climate change
on their communities.
About UNICEF
• Headquarters: New York, United States
• Founders: United Nations General Assembly, Ludwik Rajchman
• Founded: 11 December 1946
• Head: Catherine M. Russell
Gujarat govt, AAI signs MoU to develop 11 greenfield airports

• Gujarat, the State government has signed a memorandum of understanding with the Airports
Authority of India (AAI) to develop 11 new greenfield airports and expand nine existing ones.
• Though an estimate for these projects have not been drawn, each airport is likely to cost ₹1,500-
3,000 crore.
• Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira and
Palitana have been identified for the development of greenfield airports.
• As per the agreement with the AAI, Gujarat government will provide the necessary land and other
utility services like electricity and water needed for the airports.
• The government stated that it will also explore possibilities of three additional greenfield airports at
Vadnagar, Siddhpur and Kevadia.
• Apart from the greenfield airport development, the state government is also looking at brownfield
development of nine airports.
Indian Oil and EKI Energy ink deal to promote 'Surya Nutan'
• Global carbon credit developer and supplier EKI Energy Services and state-owned refiner Indian
Oil Corporation have collaborated to promote sustainable indoor solar cooking system.
.
• According to the statement, this strategic collaboration aims to promote 'Surya Nutan', IndianOil's
innovative indoor solar cooking system.
• IndianOil, the country's largest fuel refiner and retailer, has a prominent presence across the entire
hydrocarbon value chain.
• Under the MOU, IndianOil will share the technology of Surya Nutan with EKI Energy to enhance its
production and distribution, supported by carbon finance while contributing towards the betterment
of society and the environment.
About IOCL
• Indian Oil Corporation Limited is an Indian oil and gas company under the ownership of the
Ministry of Petroleum and Natural Gas, Government of India.
• Chairperson: Shrikant Madhav Vaidya.
REC signs 200 million euro loan with German Bank KfW to propel distribution sector reforms
• REC Limited, a Maharatna CPSE under the Ministry of Power, has signed a 200 million Euro loan
agreement with the German bank KfW.
• This marks REC's sixth line of credit under the Indo-German Development Cooperation and
demonstrates the corporation’s commitment to enhancing the distribution infrastructure of
DISCOMs in line with the Revamped Distribution Sector Scheme (RDSS) of the Government of
India.
• This occasion marks a significant step in REC's ongoing commitment to reform the distribution
sector in the country.
• REC is the nodal agency to implement the RDSS scheme.
About REC
• REC Limited, a Maharatna CPSE established in 1969, under Ministry of Power, provides long term
loans and other finance products for Power-Infrastructure sector comprising of Generation,
Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery
Storage, Green Hydrogen etc. More recently REC has also diversified into the Non-Power
Infrastructure sector comprising of Roads and expressways, Metro Rail, Airports, IT
Communication, Social & Commercial Infrastructure (Educational Institution, Hospitals), Ports and
Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. The
loan book of REC exceeds Rs 4,74,275 Crore.
Clean Ganga Mission signs pact with Mississippi River Initiative
.
• The National Mission for Clean Ganga (NMCG) recently signed a Memorandum of Common
Purpose (MoCP) with the Mississippi River Cities and Towns Initiative (MRCTI), which represents
124 cities/towns situated along the banks of the Mississippi River, the United States.
• This significant agreement positions NMCG a step closer to the imminent launch of the Global
River Cities Alliance (GRCA), as the current River Cities Alliance (RCA) has now expanded its
strength to the membership of 267 global river-cities including India, USA and Denmark.
NHAI Inks Agreement to Develop Multi Modal Logistics Park at Nagpur at a cost of Rs. 673 crores
• NHAI has signed an agreement with M/s. DC Multi-Modal Park (Nagpur) Limited, a SPV of M/S.
DeltaBulk Shipping India Pvt. Ltd., for the development of Multi Modal Logistics Park (MMLP) at
Nagpur.
• The MMLP will be developed in an area of 150 acres under the Public Private Partnership model at
an estimated cost of Rs.673 crore.
• This project is poised to be the first MMLP in Maharashtra under the PM Gati Shakti National
Master Plan, making it a significant milestone in the country's development.
• The MMLP will be developed in three phases.
• Phase I with an investment of Rs. 137 crore is expected to be completed in two years.
The government of India and ADB signed $200 million loan for Uttarakhand climate-resilient power
system development project
• The Government of India and the Asian Development Bank (ADB) signed agreement for availing of
a $200 million loan from the Asian Development Bank (ADB), to improve the quality, efficiency,
and reliability of power supply in the state of Uttarakhand.
• The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand
in achieving its goal of providing 24x7 power to its residents
• The Japan Fund for Prosperous and Resilient Asia and the Pacific, financed by the Government of
Japan through ADB, will provide a $2 million grant to support livelihood enhancement, training, and
awareness-raising activities of the project.
National Mission for Clean Ganga Inks Pact for Sewage Treatment Plant Development at Gokul
Barrage in Mathura
• National Mission for Clean Ganga (NMCG) has entered into a tripartite Concession Agreement
with the Uttar Pradesh Jal Nigam and M/s. EIEL Mathura Infra Engineers Pvt. Ltd.
.
• This Special Purpose Vehicle (SPV), formed through a joint venture between M/s Enviro Infra
Engineers Limited and M/s. Micro Transmission Systems, will spearhead the development of a
Sewage Treatment Plant (STP) for the Gokul Barrage in Mathura.
• The Concession Agreement, executed under the Hybrid Annuity PPP mode, involves a contract
valued at Rs. 240.01 Crores, marking a transformative moment in river conservation and urban
sewage management.
MoD inks contract worth over Rs 588 cr with TCIL for Digital Coast Guard project
• In alignment with the Government of India’s strategi c vision for Digital Armed Forces, the Ministry
of Defence has signed a contract with Telecommunications Consultants India Limited (TCIL), at a
total cost of Rs 588.68 crore, for the acquisition of Digital Coast Guard (DCG) project, under the
Buy (Indian) category.
• A pivotal Initiative for the Indian Coast Guard (ICG), the DCG Project will unfold a comprehensive
narrative of technological progression, encompassing the construction of an advanced Data
Centre, and the establishment of a robust Disaster Recovery Data Centre.
• At its core, the DCG project marks the establishment of a Tier-III standard Data Centre, armed with
the latest technological capabilities.
The government of India and ADB sign $100 million loan agreement to improve urban services and
tourism facilities in Tripura
● The Government of India today signed an agreement with Asian Development Bank (ADB) to avail a
USD 100 million loan to improve urban services and tourism facilities in the northeastern state of
Tripura.
● After signing the loan agreement, Ms. Mukherjee stated that the project will improve the municipal
infrastructure and public services in urban local bodies (ULBs) along the main national highways in
Tripura besides upgrading key tourism sites.
● The project will upgrade urban water supply systems by installing 42 kilometres (km) of new
transmission and distribution pipes, establishing 4 new water treatment plants, and improving 55 km
of stormwater drains.
● It will improve 21 km of urban roads that will incorporate features that respond to the needs of the
elderly, women, children, and differently-abled.
Ministry of Rural Development signs MoU with Reliance Retail’s JioMart, to onboard DAY-NRLM’s
.
SHGs
• The Ministry of Rural Development (MoRD) has signed a memorandum of understanding (MoU) with
Reliance Retail’s JioMart as part of its efforts to enhance the outreach of the products of self-help
groups (SHGs) of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
• This initiative will further boost MoRD’s provision under the SARAS collection to be available to a
larger consumer base.
• JioMart will also help set-up and support them to navigate and operate their account on the
marketplace.
• Additionally, JioMart will jointly participate in trainings and workshops facilitated by MoRD to enable
sellers to familiarise selling experience on the portal.
Tripartite Peace Accord Signed in Delhi

• A historic tripartite peace accord was signed between the Centre, the Assam Government and the
United Liberation Front of Assam (ULFA) in New Delhi.
• The deal is intended to bring lasting peace in the North East region.
• The Memorandum of Settlement was signed in the presence of Union Home Minister Amit Shah.
• Union Home Minister Amit Shah, Assam Chief Minister Himanta Biswa Sarma, and more than a
dozen top leaders of the pro-talks faction of the ULFA, headed by Arabinda Rajkhowa, will be
present during the signing of the peace agreement.
• Two top leaders of the Rajkhowa group -- Anup Chetia and Sashdhar Choudhary -- have been in the
national capital since last week and gave the final touches to the peace agreement along with
government interlocutors.
• The Rajkhowa faction joined peace talks with the government on September 3, 2011 after an
agreement for Suspension of Operations (SoO) was signed between the ULFA, central and state
governments.
India-Oman FTA may be signed in January 2024:
• India and Oman will likely sign a free trade agreement in early 2024.
• This free trade agreement will benefit export sectors such as motor gasoline, iron and steel products,
electronics, machinery, etc.
• Currently, these goods face a 5% import duty in Oman.
• Oman's import duty ranges from 0 to 100%.
• A duty of 100% is on specific items such as meats, wines, and tobacco products.
.
• Both sides have concluded the negotiations on most of the issues.

• Oman is India's third-largest export destination among the Gulf Cooperation Council (GCC)
countries.
• India has already signed similar agreements between India and other GCC countries like UAE.
• India's merchandise imports from Oman are around USD 250 million.
India, Russia ink pacts on construction of future power units of Kudankulam nuclear plant
• India and Russia signed the agreement on the construction of future power units of the Kudankulam
nuclear plant.
• Agreements have also been signed in the areas of medicines, pharmaceutical substances and
medical devices.
• The Kudankulam nuclear power plant is being constructed in Tamil Nadu with the technical
assistance of Russia.
• The construction started in March 2002.
• In 2027, the plant is anticipated to begin running at full capacity.
• External Affairs Minister S. Jaishankar is on a five-day visit to Russia.
• India and Russia agreed that their negotiating teams would hold a meeting by the end of January to
start in-person negotiations on the free trade agreement (FTA) between India and the Eurasian
Economic Zone.
RANKING AND INDEX

WHO published a report titled ‘World Malaria Report 2023
• The World Health Organisation (WHO) published a report titled ‘World Malaria Report 2023’.
• Malaria is a disease caused by the Plasmodium parasite.
• Each year, WHO’s World malaria report provides a comprehensive and up-to-date assessment of
trends in malaria control and elimination across the globe.
• According to the World Malaria Report, India accounted for 66% of malaria cases in the World
Health Organization’s South-East Asia region in 2022.
• The WHO South-East Asia Region accounted for about 2% of malaria cases globally while malaria
cases declined by 76%, from 23 million in 2000 to about five million in 2022.
Murali Sreeshankar wins three medals in 2023; ranked 4th in the world:
• India's long jumper Murali Sreeshankar had a splendid outing this year, winning three medals. The
World no.4 athlete in the long jump, won a couple of silver medals and a bronze medal this year.
.
• Sreeshankar won silver medals at the Asian Games 2023 in Hangzhou and Asian Championships
in Thailand. He secured a bronze medal at the Paris Diamond League held in June.
• Moreover, the 24-year-old also won a silver medal at the Commonwealth Games last year and had
the opportunity to represent his nation at the Tokyo Olympics.
• He is a frontrunner to win a medal for India at the upcoming Paris Olympics.
• The player will look for a podium finish at the quadrennial event in Paris next year.
Novak Djokovic finishes No. 1 in ATP rankings for record 8th time
• Novak Djokovic earned the year-end No. 1 spot in the ATP rankings for the eighth time, adding to
a record he already held.
• Djokovic won three of the four Grand Slam tournaments -- the Australian Open in January, French
Open in June and US Open in September -- to raise his career total to a men's-record 24 and was
the runner-up at the other, Wimbledon.
• He went 56-7 this season while leading the tour with seven titles, including at the ATP Finals last
month.
• The 36-year-old from Serbia regained the top ranking from Carlos Alcaraz, who edged him in a
five-set final at the All England Club in July.
• Alcaraz finished 2023 at No. 2 after the two men swapped No. 1 back-and-forth repeatedly this
year.
• Iga Swiatek claimed the WTA's year-end No. 1 ranking for the second consecutive year by winning
the WTA Finals last month.
Delhi Remains Unsafe for Women: Alarming Rise In Crimes Revealed By NCRB Data
• With an average three rapes a day, Delhi is still among the most unsafe metropolitan city for
women in the country, according to data shared by the National Crime Records Bureau (NCRB),
with 14,158 crimes against women reported in 2022.
• This figure was a slight increase from the 13,982 crimes against women reported in 2021.
• Delhi’s figures translated to 186.9 crimes against women per 100,000 people.
• The city accounted for 29.04% of the 48,755 crimes against women reported in 19 major cities
across the country, suggesting that law and order authorities were not working properly to create a
safe environment for women.
The Richest Person In The World by Bloomberg Billionaires Index
.
• The Bloomberg Billionaires Index is a daily ranking of the world's richest people.
• South African-born Elon Musk is the new richest person in the world, having recently surpassed
United States Jeff Bezos
• They are followed by Frances Bernard Arnault , who rounds out the Top 3.
• The rest of the Top 10, in order, are: Bill Gates, Larry Ellison, Steve Ballmer, Warren Buffet, Larry
Page, Mark Zuckerberg, and Sergey Brin.
• Gautam Adani becomes 16th richest globally as Adani Group and his wealth tops $70 billion
Climate Change Performance Index (CCPI) 2024:
• The Climate Change Performance Index (CCPI) 2024 was released on the sidelines of the ongoing
COP28 in Dubai.
• India ranked 7th in this year’s Climate Change Performance Index, up one spot from the previous
one.
• CCPI is a scoring system that measures the climate protection performance of countries. It was
first published in 2005.
• It is designed to improve transparency in international climate politics.
• The CCPI uses a standardized framework to compare the climate performance of 63 countries and
the EU, which together account for over 90% of global greenhouse gas emissions.
• The CCPI assesses each country’s performance in four categories: Greenhouse Gas (GHG)
Emissions (40%), Renewable Energy(20%), Energy Use(20%), Climate Policy (20%).
Kolkata: Safest city in India for the third consecutive year
• The most recent report from the National Crime Records Bureau (NCRB) shows that Kolkata has
remained India’s safest city for the third consecutive year, with an incidence of recognized crime
(IPC) of 86.5 in 2023.
• Kolkata has managed to hold its position as the safest city in India for three years running if reports
are to be regarded.
• The National Crime Records Bureau (NCRB) released a report that contains vital information about
this.
• The data indicates that, compared to other major Indian cities, Kolkata has the lowest number of
cognizable offences per lakh people.
About NCRB
• NCRB is an Indian government agency (headquartered in New Delhi) established in 1986 and is
part of the Ministry of Home Affairs (MHA), Government of India.
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• It was set up based on the recommendation of the National Police Commission, 1977 and a Task
force, 1985.
For the 6th time, Hyderabad emerges as the best city to live in India
● As per Mercer’s survey, Hyderabad has the best ‘quality of living’ in India.
● According to the Quality of Living Index 2023 released by Mercer, Hyderabad is in the top spot in
terms of ‘quality of living’ in India. Hyderabad attained the 153rd spot in the Quality of Living Index
2023.
● Pune has the second-best ‘quality of living’ in India. It has secured the 154th position in Mercer’s
Quality of Living City Index.
● Bengaluru (156th) Chennai is the fourth Indian city in the list at 161 spot followed by Mumbai at 164.
Kolkata (170) and New Delhi (172).
● Vienna (Austria), Zurich (Switzerland) and Auckland (New Zealand) Copenhegan (Denmark)
Geneva (Switzerland) are the top five cities in the Quality of Living Index 2023.
● Seven European countries were in the top 10.
● This index evaluates the quality of life for employees working abroad. It has taken data from more
than 500 cities all over the world.
● Quality of Living Index is based on different factors like Water Potability, Waste Removal, Sewage,
Air Pollution, Water availability, Traffic Congestion.
Hyderabad ranked 1st in food adulteration cases: NCRB
● According to the data released by the National Crime Records Bureau (NCRB), Hyderabad is in first
position in India regarding food adulteration cases.
● In cases of food adulteration, Andhra Pradesh stood next to Telangana.
● The seized items include adulterated finger garlic paste, ice creams, and tea powder.
● A total of 291 cases of food adulteration were reported across 19 major cities in India in 2021.
● Food adulteration is a critical concern for the health of the Public.
Saudi Arabia emerges as top destination for skilled workers
● Every second candidate trained under the Skill India International Centres (SIIC) and got
employment abroad between April 2022 and December 2023 landed in Saudi Arabia, Union Skill
Minister of State Rajeev Chandrasekhar told the Lok Sabha.
● In response to a question on whether the government has any plan to partner with other countries
that need skilled employees, the minister said 25,300 candidates got employment abroad thanks to
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the efforts of the skill ministry’s SIICs.

● According to the data, 13,944 skilled candidates got jobs in Saudi Arabia, followed by Qatar (3,646),
the United Arab Emirates (2,832), and the United Kingdom (1,248).
● Currently, two SIICs — one each in Varanasi and Bhubaneswar — have been established.
● Besides, the minister said the ministry had active government-to-government memoranda of
understanding (MoUs) with eight countries like Australia, Denmark, France, Germany, Japan, Qatar,
the UAE, and the UK.
India tops remittance flows at USD 125 bn in 2023: World Bank
● According to the World Bank’s latest Migration and Development Report, India with 125 billion
dollars remittance remains the largest recipient of remittances in the world in 2023.
● Mexico (67 billion dollars), China (50 billion dollars), the Philippines (40 billion dollars), and Egypt
(24 billion dollars) are among the top five remittance recipient countries in the world.
● In the South Asia region, remittance flows to India registered a growth. This region witnessed a 7.2
per cent increase in remittances in 2023.
● Remittance flows to Europe and Central Asia decreased by 1.4 per cent.
● The report shows continuous growth in remittance flows to low- and middle-income countries
(LMICs) in 2023.
● The United States continued to be the largest source of remittances.
● World Bank Migration and Development Brief is prepared by the Migration and Remittances Unit,
Development Economics (DEC), the premier research and data arm of the World Bank.
● The brief is produced twice a year.
About World Bank :
Number of women voters projected to outstrip men voters in 2029: SBI report
• The number of women voters is projected to be greater than men voters in 2029, according to SBI’s
economic research department (ERD).
• SBI’s ERD has projected women voter turnout might increase to 55% and men voter turnout might
decline to 45% in 2047 (probable election year 2049).
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• As per ERD’s analysis, the voter turnout increased by 13.7 crore to 55 crore. Out of this, 26 crore
were women.
• At the current rate of polling, total voter turnout could touch 68 crore in 2024. Out of this, women
voters could be 33 crore (49%).
• In a special report, the ERD said total voter turnout could touch 73 crore in 2029.
• Based on NSS data, ERD’s analysis shows that the total contribution of unpaid women to the
economy is around ₹22.7 lakh crore. This is almost 7.5% of GDP of India.
• One of the best examples of women's empowerment given in the report was the "MP (Madhya
Pradesh) MukhyaMantri Ladli Behna scheme."
• This scheme provides financial endowment for women in the 21-60 age group to improve the health
and nutritional status of women and children dependent on them.
Road crash deaths are down by 5 per cent globally but India’s numbers rise
• As per the recently released WHO’s Global Status Report on Road Safety 2023, annual number of
road traffic deaths has dropped by 5 per cent to 1.19 million per year.
• India, however, registered a 15% increase in fatalities.
• As per the WHO report, 108 countries registered a decrease in the cases of road fatalities.
• WHO’s Global Status Report on Road Safety 2023 shows that the total number of road traffic
fatalities in India has increased from 1.34 lakh in 2010 to 1.54 lakh in 2021.
• Road traffic deaths have decreased by more than 50% in ten countries.
• Thirty-five countries have reduced road traffic deaths by 30% to 50%.
• The WHO Global status report on road Safety 2023 is the fifth in a series measuring progress in
reducing road traffic deaths.
• This report covers progress between 2010 and 2021 and sets a baseline for efforts to meet the
United Nations Decade of Action 2021–2030 target to halve road traffic deaths by 2030.
• The goal is to reduce road traffic deaths and injuries by 50% by 2030.
DEFENCE NEWS
Ministry of Defence inks deal with Agnit Semiconductors
• The Ministry of Defence (MoD) has signed a contract with Agnit Semiconductors Private Limited
for design and development of advanced Gallium Nitride (Gan) semiconductors essential for the
next generation of wireless transmitters in defence applications ranging from radars to electronics
warfare jammers.
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• This contract marks the 300th agreement under the Innovations for Defence Excellence (iDEX)
initiative of the Defence Innovation Organisation (DIO).
• The iDEX-DIO aims to eliminate imports in Gallium Nitride (GaN) components, classified as
sensitive and cutting-edge technology with controlled and restricted exports by many countries.
About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane
Simultaneous Launch of First Three Ships (MAHE, MALVAN, and MANGROL) under ASW SWC (CSL)
Project at CSL, Kochi
• Mahe, Malvan and Mangrol, the first three ships of 08 x ASW Shallow Water Craft (CSL) project
being built by CSL, Kochi for the Indian Navy, were launched CSL, Kochi.
• Mahe was launched by Mrs Anjali Bahl in the presence of VAdm Puneet Bahl, Commandant INA,
Malvan was launched by Mrs Kangana Berry in the presence of VAdm Suraj Berry, C-in-C, and
Mangrol was launched by Mrs Zarine Lord Singh.
• The ships were launched to the invocation from Atharva Veda.
• The Mahe class ASW Shallow Water Crafts have been named after ports of strategic importance
along the coast of India, and will look to carry forward the glorious legacy of the erstwhile
minesweepers which were their namesake.
• The contract for building 8 ASW SWC ships was signed between the Ministry of Defence and
Cochin Shipyard Limited on 30 Apr 19.
Defence Minister Shri Rajnath Singh Reveals Crest of Project 15B Stealth Guided Missile Destroyer
Yard 12706 (Imphal)
• The crest of Yard 12706 (Imphal), the third amongst the four Project 15B stealth guided missile
destroyers, was unveiled by Raksha Mantri Shri Rajnath Singh, in the presence of Manipur Chief
Minister Shri N Biren Singh, in New Delhi.
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• The unveiling of Imphal’s crest, adorned with the Kangla Palace and ‘Kangla-Sa’ is a befitting
tribute to the sacrifice made by the people of Manipur towards India’s independence, sovereignty
and security.
• The crest design depicts the Kangla Palace on the left and ‘Kangla-Sa’ on the right.
• The Kangla Palace is an important historical and archaeological site of Manipur, and was the
traditional seat of the past kingdom.
Ministry of Defence Signs Contract with Bharat Heavy Electricals Limited for ₹2956.89 Cr to Acquire 16
Upgraded Super Rapid Gun Mounts and Accessories for Indian Navy
•
• The Ministry of Defence has signed a contract with M/s Bharat Heavy Electricals Limited (BHEL),
Haridwar for procurement of 16 Upgraded Super Rapid Gun Mount (SRGM) along with associated
equipment/ accessories for Indian Navy under Buy (Indian) category at a total cost of ₹2956.89 Cr.
• The upgraded SRGM will be manufactured by BHEL at its Haridwar Plant.
• The upgraded SRGM is described as a medium-caliber anti-missile/anti-aircraft point defense
weapon system.
14th edition of India-United States of America Joint Military Exercise ‘Vajra Prahar’
• The 14th Edition of the Indo-US Joint Special Forces exercise, "VAJRA PRAHAR 2023," has
commenced at the Joint Training Node in Umroi, Meghalaya spanning from 21st November to 11th
December 2023.
• The US contingent comprises personnel from the 1st Special Forces Group (SFG) of the US
Special Forces, while the Indian Army contingent is led by Special Forces personnel fr
Indian Coast Guard Conducts 9th National Level Pollution Response Exercise (NATPOLREX-IX) off
Vadinar, Gujarat·
• Indian Coast Guard conducted the 9th National Level Pollution Response Exercise (NATPOLREX-
IX) near Vadinar, Gujarat.
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• DG Rakesh Pal, Director General Indian Coast Guard, and the Chairman NOSDCP reviewed the
preparedness of all agencies during the exercise.
• Various ministries and departments of central and coastal state governments, ports, oil handling
agencies, and other stakeholders participated in the exercise.
• More than 31 foreign observers and 80 delegates participated in the exercise.
• The NATPOLREX-IX accomplished its objective of testing the level of preparedness and
coordination between various resource agencies to respond to a marine oil spill invoking provisions
of the National Oil Spill Disaster Contingency Plan or NOSDCP.
• Pollution Response Vessels (PRVs), Offshore Patrol Vessels (OPVs), Advanced Light Helicopter
Mk-III, and Dornier Aircraft participated in the exercise.
Indian Navy to induct Fast Attack Craft, 'INS Tarmugli'

● The Indian Navy will be re-inducting a refurbished 22-year-old fast attack craft, INS Tarmugli, in a
ceremonial commissioning ceremony at the naval dockyard, Visakhapatnam, more than 17 years
after she was gifted to Maldives which used it for years and returned to India in May, 2023.
● The ship has a unique distinction of having served under the flag of two nations with three names
during her distinguished service till date.
● Commissioned in the Indian Navy as INS Tillanchang, a Trinkat Class ship, she was in active
service till 2006, and thereafter gifted to the Maldives National Defence Force (MNDF) by the
Govt of India, as part of diplomatic outreach in the Indian Ocean Region (IOR).
● The ship, according to the Indian Navy, was commissioned into MNDF as MCGS Huravee on 16
April 2006, and served there till its decommissioning in May 2023.
● The vessel was originally designed and constructed by Kolkata-based Garden Reach
Shipbuilders & Engineers and was commissioned into the Indian Navy on March 17, 2001.
● Defence Minister : Rajnath Singh
● Defence Secretary : Giridhar Aramane
IndiGo receives IFSC Gift City approval to set up an aircraft leasing shop
● Interglobe Aviation, the parent company of India’s largest airline, IndiGo, has received approval
from IFSC Gift City to establish an aircraft leasing venture.
● Over the next 5 years, the company aims to invest approximately ₹11,500 crore in the IFSC
aircraft leasing segment.
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● The funds will come from promoter investments, according to the company’s application to the
IFSC.
● IndiGo plans to operate under the name ‘Interglobe Aviation Financial Services IFSC Private
Limited,’ focusing on operating leasing, financial leasing, and other related services for aircraft.
About IndiGo :
● Founders: Rahul Bhatia, Rakesh Gangwal
● CEO: Pieter Elbers
● Headquarters: Gurugram
● Founded: August 2006
Ministry of Defence Signs Rs 588.68 Crore Contract with Telecommunications Consultants India
Limited for Digital Coast Guard Project
● In alignment with the Government of India’s strategic vision for Digital Armed Forces, the Ministry
of Defence has signed a contract with Telecommunications Consultants India Limited (TCIL), at a
total cost of Rs 588.68 crore, for the acquisition of Digital Coast Guard (DCG) project, under the
Buy (Indian) category.
Indian Air Force Conducts Successful Test of 'SAMAR' Air Defense Missile System in Andhra Pradesh
● Indian Air Force (IAF) successfully conducted the test of the 'SAMAR' standing for Surface to Air
Missile for Assured Retaliation, air defence missile system during 'Exercise Astrashakti-2023.'
● Exercise Astrashakti-2023 took place at Suryalanka Air Force Station in Andhra Pradesh.
● SAMAR is an indigenous air defence missile system developed by the Indian Air Force.
● SAMAR participated for the first time in Exercise Astrashakti-2023 to undergo operational field
trials and test its surface-to-air weapon systems.
● SAMAR is capable of destroying aerial threats, operating at a speed range of 2 to 2.5 Mach.
● It features a twin-turret launch platform.
● SAMAR air defence system has been developed by the 7 Base Repair Depot (BRD), showcasing
indigenous technological advancements.
● SAMAR can launch two missiles in both single and salvo mode, demonstrating its flexibility and
versatility in different combat situations.
● SAMAR is a quick reaction surface-to-air missile system, ingeniously crafted by the IAF’s 7 Base
Repair Depot (BRD) and 11 BRD, in collaboration with Simran Flowtech Industries and Yamazuki
Denki.
● Notably, the system repurposes old Russian-origin Vympel R-73 and R-27 air-to-air missiles,
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demonstrating an innovative approach to maximize existing resources.

● India also showcased the firepower of its indigenous Akash surface-to-air (SAM) weapon system
during Exercise Astrashakti 2023.
● The Akash Weapon System is designed and developed by the Defence Research and
Development Organisation (DRDO), emphasizing India's self-reliance in defense technology.
About IAF :
● Chief of the Air Staff : Air Chief Marshal Vivek Ram Chaudhari
● Motto : Touch the Sky with Glory
Defense Ministry Greenlights Acquisition of 6,400 Rockets for Pinaka Weapon System
● The Ministry of Defence (MoD) has given the green light for the acquisition of 6,400 new rockets
for the Pinaka weapon system.
● The Defence Ministry has given approval to Rs 2,800 crore proposal for buying around 6,400
rockets for Pinaka multi-barrel rocket launcher systems.
● At its recent meeting, the Defence Acquisition Council approved the proposal for the acquisition
of two types of these rockets, called Area Denial Munition Type 2 and Type-3.
● Two main contenders include the Economic Explosives Limited of Solar Industries and the
Munitions India Limited.
● Pinaka weapon system is named after the bow of Hindu god Shiva.
● It can fire 12 rockets in 44 seconds, with a maximum range of 40 km for the Mark-I and 120 km
for the Mark-I enhanced version.
● It has been developed by the Defence Research and Development Organisation (DRDO).
● Private sector companies like Larsen & Toubro, Tata Defence, and Economic Explosives Limited
are actively involved in the Pinaka weapon system project, indicating collaboration between the
government and the private sector in defense initiatives.
● Minister of State : Ministry of Defence
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INS Imphal - Indian Navy's indigenous destroyer to be commissioned
● Indian Naval Ship (INS) Imphal, the third warship of Project 15B forming the Visakhapatnam
class stealth-guided missile destroyers, is set to be commissioned into the Indian Navy.
● Project 15B - Under this initiative, Visakhapatnam Class 4 warships (Visakhapatnam, Mormugao,
Imphal, Surat) were planned.
● The Visakhapatnam and Mormugao are already commissioned in the Indian Navy.
● INS Imphal is the first warship to have been named after a city from the Northeastern region, the
approval for which was accorded by the President in April 2019.
● The naming of the ship after the capital city of Manipur underlines the importance of the
Northeastern region for national security and prosperity.
● Built by Mazagon Dock Limited, the ship boasts a high indigenous content of approximately 75%
that includes BrahMos surface-to-surface missiles, medium-range surface-to-air missiles, anti-
submarine indigenous rocket launchers, and 76mm super rapid gun mount.
● The ship is a part of Project 15B (Visakhapatnam class) and follows the lineage of indigenous
destroyers like Project 15A (Kolkata class) and Project 15 (Delhi class).
● With a length of 163 metres and 7,400 tons displacement, Imphal is a formidable naval presence.
● The ship is a potent and versatile platform equipped with state-of-the-art weapons and sensors,
including surface-to-air missiles, anti-ship missiles, and torpedoes.
● Imphal is equipped to fight under Nuclear, Biological, and Chemical (NBC) warfare conditions
and has a high degree of automation and stealth features further enhancing its combat capability
and survivability.
● Powered by Combined Gas and Gas (COGAG) propulsion, the ship is capable of achieving
speeds above 30 knots (56 km/hour).
● INS Imphal can rightfully be regarded as one of the most potent warships to have been
constructed in India and is a testament to India's growing shipbuilding prowess in pursuit of the
national vision of ‘Aatmanirbhar Bharat’.
● After being commissioned, the ship will join the Western Naval Command.
8th edition of Indian Ocean Naval Symposium Conclave of Chiefs concludes in Bangkok, Thailand
.
● The 8th edition of Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) was
conducted by the Royal Thai Navy at Bangkok, Thailand.
● Naval chiefs and senior representatives of 27 member countries and observer countries
participated in this conference.
● Admiral R Hari Kumar, Chief of the Naval Staff, represented three members of the Indian
delegation.
● The Republic of Korea Navy was welcomed by the Conclave as the latest ‘Observer’, raising the
collective strength of IONS to 34 (25 Members & 09 Observers).
● During the Conclave, CNS, IN held fruitful interaction with the host, Adm Adoong Pan-Iam,
Commander-in-Chief, Royal Thai Navy and complimented him for taking over Chairmanship of
IONS.
● On the side-lines of Conclave, the CNS also visited Indian Naval Ship Kadmatt, at Bangkok, and
interacted with the ship’s crew, commending them for successful long range deployment.
About IONS :
● The inaugural edition of IONS was held in Feb 2008 at New Delhi, with the Indian Navy as the
Chair for two years (2008 - 2010).
● India is also scheduled to take over as the Chair of IONS (2025-27) during 9th CoC planned to
be conducted in India at the end 2025.
SCIENCE & TECHNOLOGY

IndiGo Introduces AI Chatbot 6Eskai for Assistance in Flight Booking, Web Check-in, and Discount
Information
• In a significant leap forward in the realm of Indian aviation, IndiGo, the country’s largest airline, has
unveiled a cutting-edge AI chat assistant, 6Eskai, powered by GPT-4 technology.
• This innovative chatbot, developed in collaboration with Microsoft, is poised to reshape the
passenger experience by efficiently handling customer queries in 10 different languages.
• To begin with, it will address customer queries in 10 different languages.
• Early results show a 75% reduction in customer service agent workload.
About IndiGo :
• Headquarters : Gurgaon, Haryana, India
• CEO : Pieter Elbers.
• InterGlobe Aviation Limited, doing business as IndiGo, is an Indian low-cost airline.
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Google Delays Launch of Next-Gen AI Model Gemini to 2024

• Google has quietly pushed back the launch of next-gen AI model Gemini until 2024.
• Gemini is touted as Google's most sophisticated artificial intelligence model.
• Gemini has been stated to strongly outperform OpenAI's GPT-4 as it harnesses vastly more
computing power than its competitor.
• Gemini is reported to strongly outperform OpenAI's GPT-4, emphasizing its superior computing
capabilities.
• CEO of Google and Alphabet : Sundar Pichai
India set to launch its first X-Ray Polarimeter Satellite - ISRO

• India is preparing to launch its inaugural X-Ray Polarimeter Satellite (XPoSat) using the Polar
Satellite Launch Vehicle (PSLV) from the Satish Dhawan Space Center in Sriharikota, Andhra
Pradesh.
About X-ray Polarimeter Satellite (XPoSat)
• XPoSat is designed to investigate the polarization of intense X-Ray sources through space-based
X-Ray astronomy.
• Observation Parameters : The spacecraft is designated for observation from a Low Earth Orbit
(~650 km altitude, low inclination of approximately 6 degrees).
• Two scientific payloads onboard will observe X-Ray sources during the spacecraft's transit through
Earth's shadow (eclipse period).
• The spacecraft will carry two scientific payloads in a low earth orbit.
About ISRO :
• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath
Saturn’s Rings Will Temporarily Disappear From View in 2025

• In 2025, Saturn's rings will seemingly disappear from Earth's view due to the phenomenon known
as the "Saturnian equinox."
• The Saturnian equinox occurs when the Sun crosses Saturn's equator, resulting in approximately
equal durations of day and night on the planet.
• Saturn experiences equinoxes roughly every 15 Earth years due to its extended orbital period.
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Tata Advanced Systems and Satellogic to Collaborate on Building LEO Satellites in India
• Indian aerospace company Tata Advanced Systems (TASL) and Satellogic have signed a deal to
develop local space technology capabilities in India and manufacture Earth observation (EO)
satellites.
About TASL :
• Founded : 2007
• Headquarters : Hyderabad, Telangana, India
• Chairman : Banmali Agrawala
• MD & CEO : Sukaran Singh
• TASL is an Indian aerospace manufacturing, military engineering and defense technology
company.
• It is a fully owned subsidiary of Tata Sons, a holding company for the Tata Group.
About Satellogic :
• Founded : 2010
• CEO & Founder : Emiliano Kargieman
• Satellogic is a company specializing in Earth-observation satellites.
China Establishes World's First 'Near-Space Command

• China has established the world's first near-space command, which is the fifth branch of the
People’s Liberation Army (PLA), focusing on the development of hypersonic weapons.
• The near-space command operates in the near-space area, ranging from an altitude of 20 km to
the lower boundary of space at 100km.
• Equipped with hypersonic missiles, the near-space command is designed to target critical military
assets and conduct high-altitude surveillance globally using automated drones and spy balloons.
• Hypersonic weapons possess speeds of at least Mach 5, making them highly maneuverable and
capable of changing course during flight.
• The term "Mach" is a unit of measurement representing the speed of a moving object relative to
the speed of sound.
About China :
• President: Xi Jinping
• Capital: Beijing
• Currency : Renminbi
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NASA Unveils Initiative to Send ISRO-Selected Indian Astronaut to International Space Station by 2024
• US space agency National Aeronautics and Space Administration (NASA) plans to train an Indian
astronaut for a mission to the International Space Station (ISS) by the end of 2024.
• Bill Nelson, the administrator of NASA, made this announcement during his visit to Delhi, India.
• A major collaboration between India and the United States is the NISAR satellite, set to be
launched in the first quarter of 2024.
About NASA :
• Established : July 29, 1958
• Headquarters : Washington, D.C, United States of America
• Administrator : Bill Nelson
Iran Sends Animals into Space in Resumption of Human Mission Pursuit

• Iran has sent a capsule carrying animals into space as it boosts its Western-contested space
programme in preparation for human missions.
• Capsule was launched 130 kilometres (80 miles) into orbit.
• The Salman rocket carried an “all indigenous” capsule weighing 500 kg (1,100 pounds), which is
reportedly the heaviest biological capsule ever successfully carried in the history of the Iranian
space programme.
• The capsule was ordered by the Iranian Space Agency and developed by the aerospace division of
the Ministry of Science, Research and Technology.
About Iran :
• President : Ebrahim Raisi
• Capital : Tehran
• Currency : Iranian rial
Voice Over 5G Or Vo5G Is Gradually Replacing VoLTE Across The Globe

• Vo5G/VoNR is the future standard for voice calling that operates over 5G networks, providing
improved speed, capacity, and responsiveness compared to 4G networks.
• It leverages the capabilities of 5G networks, aiming to enhance voice calling experiences through
higher quality, reduced latency, and better reliability.
• VoNR aims to provide superior voice quality, clearer audio, and reduced latency compared to
previous voice technologies like VoLTE.
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• VoNR operates using the 5G Core (5GC) network architecture, which provides a more flexible and
scalable framework for delivering voice services.
• It supports modern codecs like EVS (Enhanced Voice Service) and AMR-WB (Adaptive Multi-Rate
Wideband), enabling high-definition voice calling.
Indian Immunologicals Launches Measles and Rubella Vaccine Catering to Children
• The measles and rubella vaccine "Mabella" was launched by Vaccine maker Indian
Immunologicals (IIL) for children.
• The live-attenuated MR vaccine, Mabella, was developed through an exclusive partnership with the
Polyvac Institute of Vietnam.
• Mabella was launched as part of the 25th celebrations of the IIL division Human Biologicals
Institute (HBI) in Udhagamandalam (Ooty), Tamil Nadu (TN).
• The vaccine has been proven to be safe and effective through extensive human clinical trials.
Google Introduces Gemini: An AI Model Engineered to Mimic Human Behavior
• Google has embarked on its latest venture in artificial intelligence with the introduction of Project
Gemini, an AI model designed to emulate human-like behaviour, sparking discussions about the
technology's potential and challenges.
• Gemini is a new artificial intelligence model that outperforms other models in tasks like
understanding, summarising, reasoning, coding, and planning.
• It comes in 3 versions: Pro, Ultra, and Nano.
• The Pro version is already available, and the Ultra version will be released early 2024.
• These versions will be immediately integrated into Google's AI-driven chatbot Bard and the Pixel 8
Pro smartphone.
About Google :
• Headquarters : California, United States of America (USA)
• CEO : Sundar Pichai
China begins commercial operations at world’s first fourth-generation nuclear reactor
.
● China has started commercial operations at a new generation nuclear reactor that is the first of
its kind in the world.
● Compared with previous reactors, the fourth-generation Shidaowan plant in China's northern
Shandong province is designed to use fuel more efficiently and improve its economics, safety
and environmental footprint as China turns to nuclear power to try to meet carbon emissions
goals.
● The 200 megawatt (MW) high-temperature, gas-cooled reactor (HTGCR) plant developed jointly
by state-run utility Huaneng, Tsinghua University and China National Nuclear Corporation, uses a
modular design.
● NuScale Power, previously expected to be the first U.S. company licensed to build a small
modular reactor.
About China :
● Capital : Beijing
● Currency : Renminbi
Geojit to set up Centre of Excellence in Sustainability at Cochin University of Science and Technology
● Geojit Financial Services Limited is establishing a Centre of Excellence in Sustainability at the
Cochin University of Science and Technology.
● The proposal to set up the centre named Geojit Cusat Centre of Sustainability Studies
(GCCOSS) has been approved by the University Syndicate.
● Geojit stands committed to providing an endowment of ₹5 crore over a period of four years.
● It will strive to be an autonomous hub for creating high-quality scientists and entrepreneurs while
engaging in global collaborations to create the best research output, academic rigour, and
technical innovations.
● Environmental, Social, and Governance (ESG) goals have emerged as an important agenda for
governments as well as corporations.
Iran Reveals Upgraded Karrar Drones Equipped with Air-to-Air Missiles
● Iran unveiled advanced Karrar combat drones armed with air-to-air missiles, enhancing its air
defence capabilities.
● It is an Unmanned Combat Air Vehicle (UCAV) developed by Iran.
● It is the first long-endurance, combat-capable Iranian drone.
● The Karrar drone, which was first introduced in 2010, has an operational range of up to 1,000
kilometres (620 miles).
.
● It has a maximum speed granted by its turbojet installation of 560 miles per hour.
● It reportedly boasts a service ceiling altitude of 47,000 feet.
About Iran :
● President : Ebrahim Raisi
● Capital : Tehran
● Currency : Iranian rial
Nasa Pace mission is set to unravel how smoke, dust shape Earth's climate
● NASA is gearing up to enhance our understanding of Earth’s atmosphere with the upcoming
Plankton, Aerosol, Cloud, ocean Ecosystem (PACE) mission, scheduled for launch in early 2024.
● The mission will employ advanced polarimeters to study the interplay of light, aerosols, and clouds,
contributing to a deeper comprehension of their impact on air quality and climate.
● Aerosols, which include tiny particles like smoke, dust, and pollutants, may seem inconspicuous, but
they play a crucial role in influencing our climate.
● The PACE mission will not only analyze aerosols but also delve into studying the color of the ocean.
● The primary science instrument for PACE is the Ocean Color Instrument (OCI), designed to
measure the ocean’s color across a spectrum from ultraviolet to shortwave infrared.
● Additionally, PACE will feature two polarimeters – the Spectro-polarimeter for Planetary Exploration
(SPEXone) and the Hyper Angular Research Polarimeter (HARP2).
IndiGo Achieves Milestone as First Indian Airline to Transport 100 Million Passengers in a Year
● IndiGo has achieved the distinction of becoming the first Indian airline to transport 100 million
passengers in a single year.
● IndiGo has further made history by being the 1st Indian airline to operate more than 2,000 flights
per day in the year 2023.
● IndiGo holds the position of India's largest airline, operating in both the domestic and
international aviation sectors.
● In the international segment (July-September), IndiGo maintained a substantial market share of
18.5% among airlines operating flights to and from India.
● Earlier in the year, IndiGo created history by placing an order for 500 Airbus A320 family planes.
● This order stands as the largest-ever aircraft order in the aviation industry.
ISRO to launch Chandrayaan-4 to bring back samples from Moon in 4 yrs: - Chairman Somanath
.
● The Indian Space Research Organisation (ISRO) has planned to launch Chandrayaan-4 to bring
back samples from the Moon in 4 years stated its chairperson S Somanath while elaborating on
the space agency’s Vision 2047.
● The first module of the Bharatiya Antariksh Station - India’s planned space station, that will be
capable of conducting experiments with the help of robots will be launched by 2028.
● Prime Minister Narendra Modi had previously called on the space agency to set up a space
station by 2035 and send a man to the Moon by 2040.
● Bharatiya Antariksh Station is India’s planned space station.
● The SPADEX experiment will demonstrate autonomous docking capability
● In the process known as docking, two spacecraft are aligned in a precise orbit and joined
together.
● ISRO has shown how to use leftover fuel from the propulsion module to return a spacecraft from
the Moon to Earth orbit.
● The Next Generation Launch Vehicle (NGVL), being designed by ISRO, will be able to transport
16 to 25 T into low Earth orbit.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath
President Putin Leads Flag-Raising Ceremony for Strategic Nuclear Submarines, Highlighting Russia's
Naval Power Projection
● Russian President Vladimir Putin participated in a televised flag-raising ceremony for two
significant Russian nuclear submarines.
● Submarine Identities : Emperor Alexander III: A notable submarine belonging to Russia's new
Borei class, representing a technological advancement since the Cold War.
● Krasnoyarsk: A submarine of the Yasen class, designed for multipurpose use and equipped with
long-range, high-precision missiles.
● Borei Class Significance: Emperor Alexander III is part of the Borei class, denoted as the "Arctic
Wind," highlighting Russia's strategic focus on advanced naval capabilities in the Arctic region.
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● Missile Capabilities: The Krasnoyarsk, belonging to the Yasen class, is equipped with long-range,
high-precision missiles capable of striking both sea and land targets.
● Expansion Plans: President Putin mentioned the ongoing construction of five more Yasen-class
submarines, indicating a commitment to expanding Russia's naval capabilities.
About Russia :
● President : Vladimir Puti
● Prime Minister : Mikhail Mishustin
● Capital : Moscow
● Currency : Ruble
Ola CEO Bhavish Agarwal’s AI startup is building a multilingual Large Language Model
● Krutrim SI Designs, the new artificial intelligence (AI) venture of Ola co-founder Bhavish
Aggarwal, has unveiled a family of multilingual artificial intelligence (AI) models to cater to the
unique requirements of the Indian ecosystem.
● Krutrim, ‘artificial’ in Sanskrit, will come in two sizes: a base model named Krutrim trained on 2
trillion tokens and unique datasets, and a larger, more complex model called Krutrim Pro,
launching next quarter for advanced problem-solving and task execution capabilities.
● Krutrim can understand 22 Indian languages and generate content in about 10, including Marathi,
Hindi, Bengali, Tamil, Kannada, Telugu, Odia, Gujarati, and Malayalam.
● The full open release of Krutrim is scheduled for January 2024, and Krutrim APIs will be
accessible to developers from February 2024.
● Krutrim Si Designs was launched in April 2023.
Tesla Introduces 'Optimus Gen 2,' an Advanced Humanoid Robot Designed to Automate Repetitive
Tasks
● Tesla has unveiled “Optimus Gen 2”, a new generation of its humanoid robot that should be able
to take over repetitive tasks from humans.
● Optimus, also known as Tesla Bot, has not been taken seriously by many outside of the more
hardcore Tesla fans, and for good reason.
.
● With this new version, Tesla says that the robot is now able to walk 30% faster.
● The company also claims a 10 kg weight reduction while improving balance.
About Tesla :
● Founded : July 1, 2003
● Headquarters : Austin, Texas, United States
● CEO : Elon Musk.
IIT Guwahati Researchers Introduce BRAHMA-2D Model for Comprehensive Understanding of Large
Braided River Flow
● Researchers at the Indian Institute of Technology Guwahati (IIT Guwahati) developed an

indigenous river model, BRAHMA-2D.
● BRAHMA-2D (Braided River Aid: Hydro-Morphological Analyzer) is a mathematical model to
gauge the flow of large braided rivers like the Brahmaputra.
● It is a quasi-3D river flow model which helps to understand how fast the water moves at different
depths inside a river and its circulation around a structure like a spur installed to prevent river
bank erosion.
● It was developed by the researchers at IIT Guwahati in collaboration with the Brahmaputra Board
under the Union Ministry of Jal Shakti.
● It was successfully validated on the Brahmaputra River near Majuli Island, the second largest
freshwater River Island in the world, in Assam, which is prone to river bank erosion.
● It integrates a two-dimensional model of water movement with a theory about entropy, a measure
of disorder or randomness.
NASA and IBM Unveil watsonx.ai AI Tool on Open-Source Platform Hugging Space at COP28
● At the COP28, National Aeronautics and Space Administration (NASA) and International
Business Machines Corporation (IBM) announced that an Artificial Intelligence (AI) tool called
watsonx.ai would be available on the open-source AI platform Hugging Space.
● It is an Artificial Intelligence tool jointly built by IBM and NASA.
● It will help users monitor the Earth from space, measuring environmental changes that have
already happened while also making predictions about the future.
● The model is also designed to be extremely simple to use.
.
● In the case of watsonx.ai, NASA provides the datasets (in terms of satellite images instead of
words,) and IBM created the foundation model to interpret them.
● It is a fit-for-purpose data store optimised for governed data and AI workloads.
About NASA :
● Headquarters : Washington, D.C, United States of America
● Administrator : Bill Nelson
About IBM:
● Established : 16 June 1911
● Headquarters : New York, United States
● CEO : Arvind Krishna
Google Maps, ONDC, and Namma Yatri Collaborate to Offer a Seamless Mobility Experience
● Google Maps, Namma Yatri, and the government-backed Open Network for Digital Commerce
(ONDC) have joined forces in a three-way collaboration to enhance the open mobility experience
for users.
● ONDC, as a government-backed open network for online commerce, is actively engaged in
partnerships with Namma Yatri and Google Maps to facilitate the integration of various mobility
options such as local trains, autorickshaws, cabs, and metro.
● End-to-End Seamless Experience: The primary goal of the partnership is to provide users with an
end-to-end seamless experience in open mobility, ensuring convenience and efficiency in
navigating through various transportation options.
● Namma Yatri's Contribution: Namma Yatri, an open network mobility app, is working in
conjunction with ONDC to integrate the scheduling, booking, and related services of Kochi Metro
into the Google Maps platform for the benefit of users.
● Incorporation of Diverse Mobility Options: The collaboration aims to incorporate a diverse range
of transportation modes, including local trains, autorickshaws, cabs, and metro services, into the
Google Maps interface to offer users comprehensive and integrated mobility solutions.
]
Meta Collaborates with ONDC to Bolster Small Businesses in India
.
● Meta, a prominent technology company, has entered into a collaboration with the government-
backed ecommerce network Open Network for Digital Commerce (ONDC).
● To provide support and upskilling opportunities for small businesses in India, leveraging Meta's
business and technical solution providers.
● Enhanced Buyer-Seller Experiences: Meta's involvement includes the deployment of its business
and technical solution providers to enhance conversational experiences between buyers and
sellers on WhatsApp, a Meta-owned platform.
● ONDC's Role in Business Transformation: ONDC will play a crucial role in assisting businesses
to become seller apps and facilitating their onboarding onto the network, contributing to the
digitization and transformation of these enterprises.
● Meta Small Business Academy: The Meta Small Business Academy is introduced as part of the
initiative, offering certification programs for entrepreneurs and marketers. These programs focus
on imparting digital marketing skills essential for growth on Meta's platforms, including
WhatsApp, Facebook, and Instagram.
● Integration with ONDC's Seller Support Chatbot Sahayak: As a component of the collaboration,
Meta plans to enhance the services provided on ONDC's seller support WhatsApp chatbot,
Sahayak. This is aimed at improving the efficiency and effectiveness of seller support services.
● Focus on Conversational Experiences: The partnership emphasizes the importance of seamless
conversational interactions between buyers and sellers, highlighting the role of technology in
facilitating smooth and efficient business transactions.
China launched 3 satellites into orbit from south china sea
● China successfully launched a Long March-11 carrier rocket into space, sending 3 satellites into
planned orbit.
● The Taiyuan Satellite Launch Center launched the rocket from waters off the coast of Yangjiang,
south China's Guangdong province.
● The satellites, Shiyan-24C, will be mainly used for space science and technology experiments.
● It was the 503rd mission of the Long March carrier rocket series.
● The Shiyan-24C satellites were developed by the Shanghai Academy of Spaceflight Technology
(SAST) and have the capability to carry out extensive space technology tests.
.
● The Long March 11 rocket model, with a length of 20.8 metres, a diameter of 2 metres, and a
liftoff weight of 58 metric tons, is capable of sending satellites to low-Earth orbit or sun-
synchronous orbit.
● The China Aerospace Science and Technology Corporation (CASC), the primary contractor for
the Chinese space program, has been instrumental in these developments.
About China :
● President: Xi Jinping
● Capital: Beijing
● Currency : Renminbi
China launched 2 MEO satellites to mega BeiDou constellation
● The BeiDou Satellite Navigation System, also known as the BDS - China's largest space-borne
infrastructure to date that provides quality services to worldwide users - added two more
satellites to its mega constellation.
● Carrying the 57th and the 58th satellites of the BDS system, a Long March-3B carrier rocket and
the Yuanzheng-1 upper stage attached to the carrier rocket thundered into the sky from the
Xichang Satellite Launch Center in Southwest China's Sichuan Province.
● The launch marked the first mission of sending two MEO satellites in one go to the BDS-3 since
the system was completed and officially commissioned in 2020, and also the finale of the
Xichang Satellite Launch Center for the year 2023.
● As of 2022, the core industrial scale of China's BDS has topped 140 billion yuan ($19.62 billion).
● With the successful launch of the two new MEO satellites, the BDS now has 15 BeiDou-2
satellites and 33 BDS-3 satellites.
NASA's OSIRIS-REx Spacecraft, Renamed OSIRIS-APEX
● In an unprecedented extension of its celestial duties, the spacecraft that delivered asteroid
samples from Bennu, OSIRIS-REx, has embarked on a new mission, and NASA has renamed it
as OSIRIS-APEX.
● It is a mission to study the physical changes to asteroid Apophis that will result from its rare close
encounter with Earth in April 2029.
● In April 2029, Apophis’ orbit will bring it within 20,000 miles (32,000 kilometres) of Earth’s surface
closer to Earth than our highest-altitude satellites.
.
● Mission Objectives : OSIRIS-APEX aims to observe and analyze the physical changes induced
by Earth's gravitational pull during Apophis' close flyby.
● Spacecraft Maneuvers : The OSIRIS-APEX spacecraft will execute maneuvers to dip toward the
surface of asteroid Apophis.
● Asteroid Apophis Characteristics : Apophis is an "S-type" asteroid composed of silicate (rocky)
material, with a mixture of metallic nickel and iron.
● It was discovered on June 19, 2004.
● It originated in the main asteroid belt between Mars and Jupiter.
India to launch 50 satellites in next five years to shore up geo-intelligence gathering, says ISRO Chief S
Somanath
● Indian Space Research Organisation (ISRO) is planning to launch 50 satellites in the next five
years for geo-intelligence gathering.
● Speaking at Techfest', an annual science and technology event organised by the Indian Institute
of Technology Bombay, ISRO Chairman S Somanath stated, this will include the creation of a
layer of satellites in different orbits with a capacity to track the movement of troops and image
thousands of kilometers of area.
● Somanath stated, for realising India's aspiration to become a strong nation, the current size of its
satellite fleet is not enough and it should be ten times what we have today.
● He also stated that it was important to improve the ability of satellites to detect changes, to bring
in a more AI-related and data-driven approach to analyse data, reduce data downloads and get
only the necessary information.
ISRO to welcome 2024 with India’s first X-Ray Polarimeter Satellite
● Building on the momentum of 2023, Indian Space Research Organisation or ISRO is set to start
2024 with a bang.
● India is set to launch its first X-Ray Polarimeter Satellite on January 1.
● The XPoSat mission will lift off at 9:10 am using a Polar Satellite Launch Vehicle (PSLV), the
space agency announced.
● ISRO’s XPoSat mission will help understand emission mechanisms of various astronomical
sources like black holes, neutron stars.
● India's XPoSat mission in its 5 years of life will measure orientation of vibration in the light wave
which will help understand radiation mechanism and geometry of celestial sources.
.
● The mission “capturing the degree and angle of polarization, would add two crucial dimensions to
our comprehension”.
ACQUISITIONS & MERGERS

SBI Mutual Fund Receives RBI Approval for Acquisition of 9.99% Stake in Karur Vysya Bank
• The Reserve Bank of India (RBI) has given its approval to SBI Mutual Fund (SBI MF) for acquiring
an aggregate holding of up to 9.99% of the paid-up share capital or voting rights of private sector
lender Karur Vysya Bank Limited.
• The approval comes with stringent conditions to ensure regulatory compliance and adherence to
relevant laws and guidelines.
• Time-bound Shareholding Acquisition : The approval is contingent on SBI MF acquiring a major
shareholding within one year from the date of RBI's letter.
• Headquarters : Karur, Tamil Nadu
• MD & CEO : Mr. Ramesh Babu
• Tagline : Smart way to Bank
• Karur Vysya Bank is a Scheduled Commercial Bank.
SBI to acquire 20% stake in SBI Pension Funds

• The State Bank of India (SBI) announced that it is planning to acquire a 20% stake in SBI Pension
Funds, which is held by SBI Capital Markets.
• SBI currently holds a 60% stake in SBI Pension Funds.
• Through this latest transaction, the company is set to increase its stake to 80%, acquiring the
additional shares for a sum of ₹229.52 crore.
• The remaining 20% stake in SBI Pension Funds is held by SBI Funds Management.
•
About SBI :
• Established : 1 July 1955
• Chairman : Dinesh Kumar Khara
• Tagline : The Banker To Every Indian
.
About SBI Pension Funds Private Limited :

• MD & CEO : Anthony Rodrigues
• SBI Pension Funds holds the designation of being the appointed pension fund manager entrusted
with the responsibility of overseeing the pension corpus within the National Pension System.
Government Plans to Generate ₹1,200 Crore through Sale of 8% Stake in IRCON via Offer for Sale
(OFS) with Floor Price Fixed at ₹154 per Share
• The Union government has proposed to sell 8% stake in IRCON International through an offer for
sale (OFS).
• The government will offload about 3.76 crore shares, which represents 4% stake through the OFS,
and in the case of oversubscription, an additional 4% stake will be under sale.
• The offer for sale will take place on December 8, 2023 through a separate window on the stock
exchanges.
About IRCON :
• Founded : 27 April 1976
UltraTech to Purchase Kesoram's Cement Business in Acquisition Deal
• UltraTech, part of the Aditya Birla Group, is set to acquire the cement business of Kesoram
Industries in an all-stock deal.
• The estimated enterprise value of the deal is approximately ₹7,600 crore, including the assumption
of debt.
• Demerger of Cement Business : Kesoram Industries, a flagship company of the BK Birla Group,
has decided to demerge its cement business.
• The cement business includes two integrated cement units located in Karnataka and Telangana,
boasting a combined installed capacity of 10.75 million tonnes per annum.
• Integration into UltraTech Cement : As per the deal, the demerged cement business from Kesoram
Industries will be integrated into UltraTech Cement.
About UltraTech Cement Limited :

• Founded : 1983
.

• Managing Director : K. C. Jhanwar
• UltraTech Cement Limited is an Indian multinational cement company.
LIC Reduces Shareholding In Dixon Technologies From 5.012% To 3%

● Life Insurance Corporation of India (LIC) announced that Corporation’s shareholding in "Dixon
Technologies India Limited” has decreased from 29,97,913 to 17,94,395 Equity Shares,
decreasing its shareholding from 5.012% to 3.000% of the paid-up capital of the Company.
● There was a decrease of 2% in holding during the period from April 20, 2022 to December 15,
2023.
● The shareholding reduction was executed at an average cost of Rs 5,877.65 per share.
About Dixon Technologies :
● Founded : 1993
● Headquarters : Noida, Uttar Pradesh, India
● MD & CEO : Atul B Lall
● Dixon Technologies (India) Limited is the largest home grown design-focused and solutions
company engaged in manufacturing products in the consumer durables, lighting and mobile
phones/smart phones markets in India.
Infibeam Avenues acquires 49% stake in Pirimid Fintech
● Infibeam Avenues Limited (IAL), a Gandhinagar, Gujarat based fintech company, announces its
strategic foray into the capital markets and digital lending software market by acquiring a
significant 49% equity stake in Pirimid Fintech,a Ahmedabad, Gujarat based Financial Services
Company investing Rs 25 crore to solidify this strategic partnership.
● This move is in direct response to the surging demand in the thriving global capital markets for
cutting-edge secured and zero latency Artificial Intelligence (AI) backed software to streamline
trading, research and investment processes.
CURRENT AFFAIRS : PERSON IN NEWS
Vita Dani becomes 1st Indian to be inducted as ITTF governing board member
● Sports entrepreneur Vita Dani has become the first Indian to be inducted as a governing board
member of the International Table Tennis Federation's (ITTF) Foundation.
.
● In her capacity as the Chairperson of Ultimate Table Tennis, she has been reshaping the
landscape of the sport, ensuring accessibility across all segments of society, and orchestrating
multiple tournaments spanning 25 states in India.
● Vita and her organisation (Dani Foundation) have played a big role in shaping the upward
trajectory of Indian table tennis.
● She is also the co-owner of the Chennaiyin Football Club (CFC), which features in the Indian
Super League.
About ITTF Foundation :
● The Foundation was established in 2018 by the ITTF to attract more people to the sport.
● ITTF and ITTF Foundation President : Petra Sorling.
Naila Kiani becomes first Pakistani woman to summit world’s 10th highest mountain
● Pakistan's Naila Kiani has become the first woman from the country to summit 8,091m high
Annapurna I in Nepal.
● Kiani, mother of two and a banker in Dubai, reached the top of the world’s 10th highest mountain.
● She scaled Annapurna I along with Pakistani mountaineer Shahroz Kashif.
● The six-member team included two Pakistanis and India's Arjun Vajpayee.
● Kiani's summit was announced by her expedition organisers Seven Summit Treks.
● She has also become the first Pakistani woman to scale four peaks of over 8,000m.
● Naila had earlier submitted K2, G1 and G2.
● Naila is also aiming to scale Mt Everest, the world’s highest mountain and 8516m high Lhotse,
the fourth tallest mountain in her current visit to Nepal.
● In a separate statement, Alpine Club of Pakistan secretary Karrar Haidri stated Shehroze has
become the youngest mountaineer in the world to summit eleven peaks above 8000 meters.
SPORTS NEWS
Vaishali Rameshbabu makes history by becoming India's third Female Grandmaster
• In a historic achievement for Indian chess, Vaishali Rameshbabu secured her grandmaster title by
crossing 2,500 International Chess Federation (FIDE) ranking points during the IV El Llobregat
Open in Spain.
• Vaishali has defeated Turkish Tamer Tarik Selbes (2238) in the second round to surpass rating
and has started the tournament with two consecutive wins.
.
• She has now become the third Indian female player to achieve this prestigious title, joining the elite
company of Koneru Humpy and Harika Dronavalli.
India to take on hosts South Africa in their first T20 International in Durban
• India will take on hosts South Africa in their first T20 International in Durban.
• Suryakumar Yadav-led young squad has many new names as the senior brass of the team comes
in during the Test format of the tour.
• Aiden Markram is leading the South African squad and they have also included many emerging
players who will show their potential in the great team.
Indian Army's Captain Geetika Koul becomes first woman medical officer to be deployed at Siachen
• Captain Geetika Koul from the Snow Leopard Brigade has become the first woman medical officer
in the Indian Army to be deployed at Siachen, the world’s highest battlefield, the Fire and Fury
Corps.
• This achievement follows her successful completion of rigorous induction training at the esteemed
Siachen Battle School, which includes high-altitude acclimatisation, survival techniques, and
specialised medical procedures.
• The Fire and Fury Corps of the Indian Army announced this milestone on social media, highlighting
the significance of Captain Koul’s deployment in promoting gender inclusion within the military.
About Siachen Glacier :
• The Siachen Glacier is a glacier located in the eastern Karakoram range in the Himalayas, just
northeast of the point NJ9842 where the Line of Control between India and Pakistan ends.
• At 76 km long, it is the longest glacier in the Karakoram and second-longest in the world's non-
polar areas.
• Siachen Glacier is at an altitude of 5400 metres from the sea level.
• Temperatures at Siachen Glacier dip as low as -45 degrees Celsius and the harsh climate
conditions mean that even a soldier cannot be stationed at Siachen Glacier for long periods.
Union Minister Anurag Singh Thakur formally inaugurates first-ever Khelo India Para Games in New
Delhi
• Union Minister of Youth Affairs and Sports Anurag Singh Thakur formally inaugurated the first-ever
Khelo India Para Games (KIPGs) in New Delhi.
• Mr Thakur said that the event is not just the celebration of our spirit of sportsmanship but it is a
light that will bring inclusivity and empowerment in India.
.
• He further pointed out that KIPGs will further reiterate the PM's vision of "Kheloge to Khiloge".
• More than 1,400 participants from across 32 states and Union Territories including Services Sports
Control Board are participating in the 8-day event.
• The Para athletes will compete for honours in 7 disciplines including para athletics, para shooting,
para archery, para football, para badminton, para table tennis and para weight lifting.
India’s Ashwini Ponnappa and Tanisha Crasto win women’s doubles title at Guwahati Masters
badminton tournament
• India’s Ashwini Ponnappa and Tanisha Crasto won the women’s doubles title at the Guwahati
Masters 2023 badminton tournament.
• Ashwini Ponnappa and Tanisha Crasto, the second seeds at the BWF Super 100 tournament, beat
Taipei’s Sung Shuo Yun and Yu Chien Hui 21-13, 21-19 to win what was their second title as a
pair.
• Results at the Guwahati Masters 2023 badminton tournament will count towards players’ qualifying
rankings for the Paris 2024 Olympics.
Khelo India Games to be held in Tamil Nadu in January 2024
● Khelo India Games will be held in Tamil Nadu in January 2024.
● The State Government said that the games will be held in Chennai, Coimbatore, Madurai and Trichy
from 19th to 31st January, 2024.
● More than 5,500 sports persons and over 1,600 coaches are expected to participate in the event.
More than 1000 referees and 1200 volunteers will be part of the sporting event in which 27 types of
sport will be played.
● For the first time, squash will be included in Khelo India games.
Khelo India and Svayam collaborated to improve support for Para Athletes at Khelo India Para Games
2023
● Khelo India, the flagship program of the Ministry of Youth Affairs and Sports, and Svayam, India's
pioneering accessibility organisation, joined hands to ensure transportation and infrastructure are
accessible in New Delhi during the Khelo India Para Games.
● Accessible transportation services were provided for more than 1400 para-athletes.
● At the Khelo India Para Games 2023, more than 500 wheelchair-using players participated.
First-ever Khelo India Para Games conclude in New Delhi
● The first-ever Khelo India Para Games (KIPG) concluded in New Delhi with Haryana winning the
inaugural title by securing 105 medals including 40 gold, 39 silver, and 26 bronze.
.
● KIPG 2023, which began on December 10, witnessed the participation of around 1,450 para-athletes
from across the country.
● Uttar Pradesh came second with 62 medals including 25 gold, 23 silver, and 14 bronze, while Tamil
Nadu finished third with 20 gold, eight silver, and 14 bronze medals.
● Athletes from 32 states and Union Territories participated in the Games.
75th Inter State-Inter Zonal Badminton Championship 2023: Maharashtra bags women's and AAI wins
men's title events in Guwahati
● In team events of the 75th Inter State-Inter Zonal Badminton Championship 2023, Maharashtra
bagged women's and Airport Authority of India (AAI) won the men's title events in Guwahati.
The prestigious national championship organized by Badminton Association of India is being held in
Assam after four years.
● The dominant AAI team appeared in both the men’s and women’s team finals and managed to win
the title in the men’s category as they outclassed Karnataka 3-0.
● In the women’s team event final, Maharashtra dominated AAI 3-0 with impressive displays from
Shruti Mundada, Alisha Naik and the doubles pair of Simran Singhi and Ritika Thaker.
National Sports Awards 2023 Announced; Chirag C Shetty and Satwik Sai Raj Rankireddy to Receive
Major Dhyan Chand Khel Ratna Award
● The Government announced the National Sports Awards 2023. Badminton players Chirag C Shetty
and Satwik Sai Raj Rankireddy will be honoured with the Major Dhyan Chand Khel Ratna Award.
● Twenty-six sportspersons will receive the Arjuna Awards.
● Wrestling coach Lalit Kumar, Chess coach R. B. Ramesh, Para Athletics coach Mahaveer Prasad
Saini,
Hockey coach Shivendra Singh and Mallakhamb coach Ganesh Prabhakar Devrukhkar will be
honoured with the Dronacharya Award in the regular category.
● Golf coach Jaskirat Singh Grewal, Kabaddi coach Bhaskaran E and Table Tennis player Jayanta
Kumar Pushilal will be honoured with the Dronacharya Award in the lifetime category.
● Dhyan Chand Award for Lifetime Achievement in Sports and Games, will be given to Manjusha
Kanwar for Badminton, Vineet Kumar Sharma for Hockey and Kavitha Selvaraj for Kabaddi.
● Maulana Abul Kalam Azad (MAKA) Trophy 2023 will be presented to Guru Nanak Dev University,
Amritsar as the overall winning university, Lovely Professional University, Punjab is the 1st runner up
University and Kurukshetra University, Haryana is the 2nd runner up University.
● The awardees will receive their awards from President Droupadi Murmu in a function at Rashtrapati
.
Bhavan on the 9th of next month.

Under-19 Asia Cup: Bangladesh crushes UAE to lift trophy
● Bangladesh won the Under-19 Asia Cup by defeating UAE in the finals.
● Bangladesh clinched the Under-19 Asia Cup title by defeating UAE by 195 runs.
● UAE gets all out at 87 runs in 24.5 overs.
● Bangladesh scored 282/8 after UAE opted to field.
● Ashiqur is declared as both player of the match and series. Ashiqur scored 378 runs in five innings.
● The 2023 ACC Under-19 Asia Cup was played between 8 to 17 December 2023.
● Afghanistan, Bangladesh, India, Nepal, United Arab Emirates Japan, Pakistan and Sri Lanka took
part in the tournament.
● It was held in the United Arab Emirates.
Sanjay Singh elected as President of Wrestling Federation of India

• Sanjay Singh has been elected as the new president of the Wrestling Federation of India (WFI).
• He was elected after the results of election of office bearers, in which he got 40 votes.
• The other applicant, Commonwealth Games gold medal-winning wrestler, Anita Sheoran received
seven votes.
• Sanjay Singh is the vice president of the Uttar Pradesh Wrestling Association and previously served
on the WFI's executive council. He has also been the national federation's joint secretary since
2019.
• Meanwhile, Sakshi Malik, 2016 Rio Olympics bronze medallist has announced quitting wrestling
after Sanjay Singh being elected as president of Wrestling Federation of India.
Chennai Grand Masters 2023; Dommaraju Gukesh clinches title

● In Chennai Grand Masters 2023 tournament, Indian chess prodigy, Dommaraju Gukesh clinched the
title by holding compatriot Pentala Harikrishna for a draw.
● Meanwhile, Arjun Erigaisi secured the second spot.
● Both Arjun and Gukesh finished the event at 4.5 points out of 7.
● Pentala Harikrishna finished third with 4 points, as all three Indians in the tournament ended the
campaign with a podium finish.
● With this win, Gukesh takes the lead in the FIDE Circuit.
.
● If he keeps the lead till 1st January 2024, he will qualify for the highly coveted Candidates
Tournament 2024.
● The 2024 Candidates Tournament is an eight-player chess tournament, held to determine the
challenger for the 2024 World Chess Championship.
● It is scheduled to be held from 2 to 25 April 2024 in Toronto, Canada.
Union Minister Anurag Singh Thakur to launch Official logo and mascot for Khelo India Youth Games in
Chennai
● Union Minister of Information and Broadcasting Anurag Singh Thakur will launch the Official logo
and mascot for Khelo India Youth Games in Chennai.
● He will attend the ceremony as the chief guest for the launch of official logo, jersey, mascot, and
torch.
● The Khelo India Youth Games will be held from January 19th to 31st next year.
● The upcoming edition will take place in Chennai, Trichy, Madurai and Coimbatore.
● The previous editions of the Youth Games have been held in Delhi, Pune, Guwahati, Panchkula,
and Bhopal.
● Renowned sports icons including Chess Grand Master Vishwanathan Anand, Tokyo Olympian
Fencer Bhavani Devi, Squash Champion Joshna Chinappa and Hockey Asia Cup bronze medalist
S. Mareeswaran, among other esteemed personalities will attend the programme.
Mitchell Starc becomes most expensive player in league's history, goes to KKR for Rs 24.75 crore
● Mitchell Starc became the most expensive player in IPL history, bought by KKR for Rs 24.75 crore.
● Australian left-hander faster bowler Mitchell Starc has been signed by Kolkata Knight Riders for Rs
24.75 crore in the IPL 2024 auction in Dubai.
● He also became the most expensive player in IPL history, surpassing his Australian captain Pat
Cummins, who was signed by SRH for Rs 20.5 crore earlier on the same day.
● Starc last played in the IPL for Royal Challengers Bangalore in 2015.
● That year, he took 20 wickets in 13 matches at an average of 14.55 and an economy rate of 6.76.
● Starc was signed by Kolkata Knight Riders in 2018 for Rs 9.40 crore but he got injured.
Sakshi Malik: India’s Olympic medal winner quits wrestling
• Olympic bronze medalist Sakshi Malik announced her retirement from wrestling in New Delhi.
• Sakshi Malik last participated in the Commonwealth Games in 2022 in Birmingham.
• The Indian wrestler won the gold medal in the women's 62 kg category but has not participated in
international events since then.
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• Sakshi was born on 3 September 1992 in the Rohtak district of Haryana.

• She emerged from the shadows of Geeta Phogat to qualify for the Rio 2016 Olympics and clinched
the bronze medal on her Games’ debut. It was India’s first Olympic medal won by a female wrestler.
Anmol Kharb wins women’s singles title at National Badminton Championships in Guwahati
• In Badminton, Anmol Kharb has won the women’s singles title at the National Badminton
Championships 2023 in Guwahati.
• The teenager lost the first game of the final to Tanvi Sharma but fought back to level the score.
• The men’s singles title clash saw an upset as the unseeded Chirag Sen secured the national title
after defeating fourth-seed Tharun M.
• In the mixed doubles summit clash, Dhruv Kapila and Tanisha Crasto defeated the sixth-seeded duo
of Nitin Kumar-Navdha M anglam 21-13, 21-8 to claim their maiden national title.
• Priya Devi Konjengbam and Shruti Mishra lifted the women’s doubles title with a win over Ritika
Thaker-Simran Singh.
• The men’s doubles final was an edge-of-the-seat thriller where K Pruthvi Roy-Suraj Goala caused an
upset by defeating Krishna Prasad Garaga-Vishnuvardhan Goud Panjala.
India’s Hardik Singh named FIH player of the year, Savita Punia bags third women’s goalkeeper of the
year award
• Indian hockey players Hardik Singh and Savita Punia have won major awards at the FIH Hockey
Star Awards for the 2023 season.
• Singh was named the men’s player of the year while Punia won the best women’s goalkeeper of the
year award.
• Hardik became the third male player from India to win the coveted award, joining Manpreet Singh
(2019) and Harmanpreet Singh (2020-21 and 2021-22).
• Besides Hardik, India women’s team skipper Savita Punia won the FIH Goalkeeper of the Year
award for the third consecutive time.
• Notably, this is Hardik’s second significant accolade this year as he had won the esteemed Hockey
India Balbir Singh Sr Award for Player of the Year 2022 earlier this year.
Coca-Cola extends global partnership with ICC
● Beverage major Coca-Cola has renewed its partnership with the International Cricket Council (ICC),
securing an eight-year commitment that stretches through 2031, encompassing all major ICC world
events in various cricket formats.
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● This move solidifies one of ICC's longest-ever associations with a single brand, continuing a
partnership that began in 2019.
● Coca-Cola's association with major sports events is a long-standing tradition, highlighted by its eight-
decade-long relationship with the Olympics and over forty years with FIFA and the T20 World Cup.
About ICC
● Headquarters: Dubai, United Arab Emirates
● Founded: 15 June 1909
● CEO: Geoff Allardice
● Chairman: Greg Barclay
IOA constitutes Ad Hoc committee to supervise operations of Wrestling Federation of India
● The Indian Olympic Association (IOA) constituted an Ad Hoc committee comprising Bhupinder Singh
Bajwa as Chairman, MM Somaya and Manjusha Kanwar as Members.
● The committee is given the responsibility to observe and supervise the operations of the Wrestling
Federation of India (WFI).
● The Indian Olympic Association stated that in its order, that it has found that the recently appointed
President and officials of WFI have made arbitrary decisions in violation of constitutional provisions.
● The officials overturned the rulings of the IOA-appointed ad hoc committee without following due
process.
● This not only highlights a governance gap within the Federation but also signifies a noticeable
departure from established norms.
OBITUARIES
American diplomat and Nobel winner Henry Kissinger Passed away
• American diplomat and Nobel winner Henry Kissinger passed away at the age of 100 years.
• Heinz Alfred Kissinger was born in Furth, Germany, on May 27, 1923, and moved to the United
States with his family in 1938 before the Nazi campaign to exterminate European Jews.
• He was a German-born American diplomat, political scientist, geopolitical consultant, and politician.
Awards & Honors :
• The 1973 Peace Prize was awarded jointly to Henry Kissinger and Le Duc Tho of North Vietnam.
• Le Duc Tho had declined the award, making it one of the most controversial prizes ever awarded.
• On January 13, 1977, Kissinger received the Presidential Medal of Freedom from President Gerald
Ford.
.
Veteran Communist and CPI Kerala secretary Kanam Rajendran passed away
• The state secretary of the ruling Communist Party of India (Marxist) Kanam Rajendran passed
away at the age of 73 in Kochi, Kerala.
• Kanam Rajendran was born on 10 November 1950 in Koottikkal village of Kerala's Kottayam
district.
• He entered politics at a tender age and became the state secretary of the Communist Party of
India’s (CPI's) youth wing All India Youth Front (AIYF) at 23.
Kuwait's ruling emir, Sheikh Nawaf Al Ahmad Al Sabah Passed away

● Kuwait's ruling emir, Sheikh Nawaf Al Ahmad Al Sabah passed away at the age of 86.
● Kuwait's deputy ruler and his half-brother, Sheikh Meshal Al Ahmad Al Jaber, now 83, had been
the world's oldest crown prince.
● Meshal, a longtime leader in the country's security services, had been named new emir and now
is one of the Gulf Arab countries' last octogenarian leaders.
● Nawaf Al-Ahmed Al-Jaber Al-Sabah was born on 25 June 1937 in Kuwait City, Kuwait.
● Nawaf was nominated as crown prince on 7 February 2006, during the reign of his half-brother
Sabah Al-Ahmad Al-Jaber Al-Sabah.
● During his three-year rule as emir, he grappled with internal political disputes
● He was Emir of Kuwait from 29 September 2020 until his death in 2023.
About Kuwait :
● Prime Minister : Ahmad Nawaf Al-Ahmad Al-Sabah
● Capital : Kuwait City
● Currency : Kuwaiti dinar
Vijayakanth death: Tributes pour in for DKDM founder

● Chennai: Desiya Murpokku Dravida Kazhagam (DMDK) founder and popular yesteryear Tamil actor
Narayanan Vijayaraj Alagarswami, popularly known as Vijayakanth, who raised his voice against
corruption on the big screen before taking the political plunge, passed away after a prolonged illness
on December 28. He was 71.
● Popularly known as ‘Captain’ after he performed the role of an IFS officer in the 1991 blockbuster
Tamil movie ‘Captain Prabhakaran’, Vijayakanth was not in good health since 2016, leading him to
stay away from party affairs.
.
● He was last spotted at the DMDK’s general council meeting on December 14, when his wife V
Premalatha, was elected as party chief.
Father of European integration, Jacques Delors dies at 98
● Jacques Delors, a passionate advocate of post-war European integration and a founding father
of the European Union's single currency project, has died.
● The French socialist served as president of the European Commission, the EU executive, for
three terms - longer than any other holder of the office - from January 1985 until the end of 1994,
a time of rapid change for Europe's emerging union.
● The era was marked by forthright clashes of vision between federalists such as Delors, who
believed passionately in an "ever closer union", and Britain's then prime minister Margaret
Thatcher, who firmly resisted any shift of power to Brussels.
● So antagonistic did relations between London and Brussels become towards the end of
Thatcher's time in office, especially over the plans for monetary union, that The Sun tabloid
famously ran a front page headline reading: "Up Yours Delors".
● Delors' death came three years after Britain fully exited the EU on Dec. 31, 2020, following
tortuous negotiations and 47 years of membership.
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Important Monthly Current Affairs Capsule – January 2024
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2. NATIONAL NEWS 09
4. STATE NEWS 67
5. BUSINESS NEWS 91
14. SPORTS NEWS 205
15. OBITUARIES 214
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IMPORTANT DAYS
World Braille Day: 4th January
● World Braille Day 2024 is observed on the 4th of January 2024.
● After its inventor, "Braille," the term was given.
● When Louis Braille was a young child, he inadvertently injured himself in the eye with his father's
awl, which caused him to lose his vision.
● He spent time at the Royal Institute for Blind Youth in France starting at the age of 10 when he
developed and improved the raised-dot technique that eventually became known as Braille.
World Day of War Orphans: 6th January

• World Day of War Orphans 2024 is observed on the 6th of January 2024.
• Children who lose their parents in sudden, violent events like war are forced to live with a surviving
relative or into the foster care system, where they must deal with horrible living conditions including
starvation and disease.
• According to UNICEF, there were "almost 140 million orphans worldwide" as of 2015. Of those, 61
million lived in Asia, 52 million in Africa, 10 million in Latin America and the Caribbean, and 7.3
million in Eastern Europe and Central Asia.
• SOS Enfants en Detresse, a French charity that aims to restore a sense of normalcy to the lives of
children indirectly impacted by war and conflict, established World Day for War Orphans.
Pravasi Bharatiya Divas Or NRI Day: 9th January

• NRI Day 2024 or Pravasi Bharatiya Divas 2024 is observed on the 9th of January 2024.
• It was in 2000 when the Indian government decided to recognize the NRI community on January
9th by observing Pravasi Bharatiya Divas.
• Mahatma Gandhi returned to India on January 9, 1915, from South Africa, which gives the ninth
of January its significance as NRI Day.
• Despite being formally established in 2000, this day wasn't actually observed until 2003.
World Hindi Day: 10th January

• World Hindi Day 2024 is observed on the 10th of January 2024.
• The inaugural World Hindi Conference, or Vishva Hindi Sammelan, was held in Nagpur,
Maharashtra, in 1975, which is when World Hindi Day first became a thing.
.
• This day was dedicated to honouring both the Hindi language and the many authors who have
contributed to its literature.
• Every year, Vishva Hindi Divas is observed to honour the Conference's anniversary.
• On January 10, Hindi-speaking people around the world celebrate World Hindi Day.
National Human Trafficking Awareness Day 2024: 11th January
• National Human Trafficking Awareness Day 2024 is observed on the 11th January 2024.
• The fight against human trafficking made progress in the late 20th and early 21st centuries.
• The Trafficking Victims Protection Act, which was passed in 2000, was the first federal statute to
address contemporary slavery.
• Anti-Slavery International also founded the American nonprofit organization Free The Slaves.
• The resolution designating January 11 as National Human Trafficking Awareness Day was
approved by the US Senate in 2007.
Death Anniversary of Lal Bahadur Shastri 2024: 11th January

• Lal Bahadur Shastri was born on 2nd October 1904 at Mughalsarai, Varanasi, Uttar Pradesh.
• He was the second Prime Minister of Independent India and also a leader of the Indian National
Congress Party.
• Shastri ji joined the Indian Independence Struggle in the 1920s, where he took part in the non-
cooperation movement.
• The British sent him to prison for a while.
• He took part in the Salt Satyagraha in 1930, which led to his more than two-year imprisonment.
• He joined as the Parliamentary Board of U.P.'s organizing secretary in 1937.
National Youth Day: 12th January

• National Youth Day 2024 is observed on the 12th January 2024.
• On January 12, 1984, the Indian government declared Swami Vivekananda's birthday as National
Youth Day for the first time.
• Since then, the day is celebrated nationwide as National Youth Day.
Tripura, Manipur, and Meghalaya Foundation Day: 21st January

● Tripura, Manipur, and Meghalaya Foundation Day 2024 is observed on the 21st of January
2024.
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Tripura, Manipur, and Meghalaya Foundation Day History:

● Two princely states, Manipur and Tripura, united with India in 1949.
● Later, they were given the status of a union territory.
● In 1972, Meghalaya and Tripura were granted full sovereignty.
● The states were able to be established thanks to the North Eastern Region (Re-organization)
Act of 1971.
● India’s northeast in 1947 was made up of the Assam Plains, the North Eastern Frontier Tracts,
and the hill districts.
● In 1949, the princely kingdoms joined forces with India.
● The areas were created as union territories. Nagaland became a state in 1963.
● In 1972, the North Eastern Reorganization Act was adopted. As a result, Meghalaya and
Tripura were granted full statehood.
● The act also established the Assam Mizo and NEFA hills as union territories.
● In 1986, the Mizo Accord was ratified.
● In 1987, Mizoram became a sovereign state.
● NEFA, or Arunachal Pradesh, received full statehood in 1987.
International Day of Education: 24th January

• International Day of Education 2024 is observed on the 24th January 2024
• The International Day of Education was declared by the UN General Assembly in December 2018 as
a way to honor education and to think about how crucial learning is to progress and peace.
• Each of us has a responsibility to advance high-quality education.
• Institutions are not the only ones that can impart knowledge.
• Access to education, which most of us probably take for granted, can help many people escape
poverty and open the door to a bright future.
• Statistics provided by UNESCO indicate that an estimated 258 million youngsters are not enrolled in
school.
• The situation is worse for marginalized groups, people who reside in more unequal regions, and
citizens of developing nations.
• The sad truth is that innumerable societies in the modern world disregard education as unimportant.
.
• The International Day of Education is a rallying cry for people, civil society, and policymakers to take
decisive action to guarantee that children receive primary and secondary education, as well as to
increase young involvement in education.
• Learning programs should be created to meet the requirements of various demographic groups
while focusing on one overarching objective: giving kids the education they need to find work and
have better lives.
National Girl Child Day: 24th January
• National Girl Child Day 2024 is observed on the 24th of January 2024.
• The Ministry of Women and Child Development of the Government of India established National Girl
Child Day in 2008, marking the beginning of the day's history.
• Children who are girls regularly experience discrimination and injustice in Indian society.
• They are frequently denied the opportunity to further their education and are required to help out
around the house starting at a very young age.
• The government aims to convey the urgent need to treat female children equally and give them the
opportunities they rightfully deserve through Girl Child Day.
• As a result, the government coordinates awareness programs to spread the word on every National
Girl Child Day.
National Voters Day: 25th January
• National Voters Day 2024 is observed on the 25th January 2024.
• The Election Commission of India (ECI), which was established in 1950, was founded on January
25.
• To encourage young people to participate in the election process, this day was first observed in
2011.
• Without a doubt, today is a celebration of both India's democracy and the freedom to vote.
• The primary goal of the Election Commission is to promote voter registration, especially among
qualified voters.
• Let us inform you that while the voting age was once 21 years old, it was decreased to 18 years old
in 1988.
• The voting age in India was lowered by the Sixty-First Amendment Bill of 1998.
National Tourism Day: 25th January
• National Tourism Day 2024 is observed on the 25th January 2024.
.
• National Tourism Day has a long history dating back to the Indian government's proclamation of
January 25 as Tourism Day in India.
• This day was created to highlight the value of travel and raise awareness of how vital it is to the
economy of the nation.
• The nation as a whole warmly celebrates Indian tourism.
• The purpose of celebrating National Tourism Day is to increase public understanding of the social,
political, economic, and cultural ideals that ultimately influence travel.
• The strategic growth, management, and promotion of tourism are solely the responsibility of the
Ministry of Tourism, which is the principal institution in India for developing national policy.
• To promote tourism in the nation, it collaborates with the public sector and central government
organizations.
Republic Day 2024: 26th January

• Republic Day 2024 is observed on the 26th January 2024.
• The day honours the promulgation of the Indian Constitution on January 26, 1950.
• Even though India was freed from the British Raj in 1947, it wasn't until January 26, 1950, that the
Indian Constitution took effect and the nation was proclaimed a republic.
• The Constitution was adopted a year after the Constituent Assembly's final session on November
26, 1949, which was its first session on December 9, 1946.
• The Constitution's Drafting Committee was led by Dr BR Ambedkar. India also observes Constitution
Day on this day.
• Republic Day honours the spirit of India's independence.
• The Indian National Congress proclaimed the end of colonial authority on this day in 1930, declaring
Purna Swaraj. Republic Day also honours the right of Indian citizens to elect a democratically-run
government.
• To honour the creation of the Indian Constitution, the nation observes it as a national holiday.
International Customs Day: 26th January
• International Customs Day 2024 is observed on the 26th January 2024.
• The European Customs Union Study Group (E.C.U.S.G.) was established by the Committee for
European Economic Cooperation in 1948 to investigate the feasibility of establishing one or more
inter-European customs unions.
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• To increase the effectiveness of customs administrations around the world, the Customs
Cooperation Council (C.C.C.) was established in 1952.
• The C.C.C.'s first session was held on January 26, 1953, and there were 17 founding members
present.
• In 1983, the group established International Customs Day.
• The C.C.C. became a global organization and was renamed the W.C.O. in 1994 after decades of
growth and expansion outside of Europe.The W.C.O. has its headquarters in Brussels, Belgium.
International Holocaust Remembrance Day 2024: January 27

• International Holocaust Remembrance Day 2024 is observed every year on the 27th January.
• The UN General Assembly adopted resolution 60/7 on November 1, 2005, to designate January 27
as the International Holocaust Remembrance Day (IHRD).
• On January 27, 2006, the first commemoration of International Holocaust Remembrance Day was
held at the UN Headquartered in New York City.
• After that UN Headquarters commemorates this day every year.
• While UN offices and other state offices across the world conduct their ceremonies.
Indian Newspaper Day-January 29

• Indian Newspaper Day is a day to commemorate the birth of newspapers in India.
• The motive of this day is to promote Indian Newspapers.
• Indian Newspaper Day is celebrated every year on 29th January.
• Indian Newspaper Day commemorates the birth of the first Indian Newspaper on January 29,
1780.
• The ‘Hickey’s Bengal Gazette’, which was also known as the ‘Calcutta General Advertiser’, was
the first weekly newspaper.
• As per the summons of the Indian Newspaper Society, this day is celebrated on 29th January
every year.
Martyrs Day: 30th January

• Martyrs Day 2024 is observed on the 30th of January 2024.
• Gandhi promoted nonviolent protests throughout India's struggle for independence and encouraged
everyone to set an example.
.
• With the British, he negotiated several peace deals before issuing the ultimatum to leave.
• Gandhi undertook the nearly impossible task of creating a nation out of numerous provinces and
territories as the Indian constitution was being ratified.
• Gandhi was vehemently opposed to the idea of partitioning India.
• Even after the Declaration of Independence, he held regular demonstrations to establish his
resistance.
• Gandhi’s objection to the partition was met harshly by Hindu nationalists, who accused him of
appeasing the Muslims.
• On the eve of January 30, Nathuram Vinayak Godse, a notorious Hindu nationalist, shot Gandhi
three times at point-blank.
• Gandhi was shot in the chest, putting an end to his lifelong fight for nonviolence.
• On Martyrs' Day, Indians from all over the world assemble to honor the memory of a great hero and
recognize the pointless carnage brought on by violent extremism.
NATIONAL NEWS
PM inaugurates, dedicates to the nation and lays the foundation stone of multiple development projects
worth more than Rs 20,000 crores in Tamil Nadu
• The Prime Minister, Shri Narendra Modi inaugurated, dedicated to the nation and laid the
foundation stone of development projects worth more than Rs 20,000 crores in Tiruchirappalli,
Tamil Nadu.
• The development projects include rail, road, oil and gas, and shipping sectors in Tamil Nadu.
• Governor of Tamil Nadu, Shri R N Ravi, Chief Minister of Tamil Nadu, Shri M K Stalin, Union
Minister for Civil Aviation, Shri Jyotiraditya Scindia, and Union Minister of State for Information and
Broadcasting, Shri L Murugan were among others were present on the occasion.
• The DFRP, developed at a cost of Rs. 400 crore, is equipped with a unique design, which is the
only of its kind in the world and can reprocess both carbide and oxide fuels discharged from the
fast reactors.
Modi govt raises Sukanya Samridhi Yojana interest rate ahead of Lok Sabha election 2024.3
• The Government recently raised the interest rates on the Sukanya Samriddhi Yojana (SSY)
scheme by 20 basis points to 8.2 per cent from the existing 8 percent.
• SSY is a savings scheme launched in 2015 under the Government of India's “Beti Bachao Beti
Padhao'' campaign, which aimed to promote the education of girl children.
.
• SSY is a small-deposit scheme tailored specifically for the girl child.

• This scheme enables guardians to open a savings account for their girl child with an authorized
commercial bank or India Post branch.
PM Modi to inaugurate ‘India’s longest sea bridge' in Mumbai:
• The ambitious infrastructure project, the Mumbai Trans Harbour Link (MTHL) will be inaugurated
by Prime Minister Narendra Modi on 12 January, Maharashtra CM Eknath Shinde.
• The MTHL project is 22 km long, touted to be India's longest and the world's 12 longest sea bridge.
• The project consists of an approximately 22 km long 6-tier (3+3-lane, 2 emergency lane) bridge
connecting Shivdi in Mumbai city and Nhava on the mainland.
• Build at the cost of ₹17,843 crore, the six-lane bridge is among the most expensive projects.
• The MTHL will have interchanges at Sewri in Mumbai and Shivaji Nagar, Jassi, and Chirle on
National Highway 4B on the Navi Mumbai end.
Bharatmala Phase 1 deadline extended by six years to FY28t
• The government has recently extended the deadline for completion of the highway development
project Bharatmala Phase-I to 2027-28.
• Bharatmala Pariyojana is a centrally-sponsored project, approved by Cabinet Committee on
Economic Affairs (CCEA) in 2017.
• It was to be completed by 2022 to enhance road connectivity and facilitate economic growth by
constructing and upgrading highways across India.
• The Cabinet Committee had approved the first phase of Bharatmala Pariyojana in 2017 and was to
cost Rs 5.35 trillion.
VP Jagdeep Dhankhar to inaugurate Startup Expo in Kathua

● Vice President Jagdeep Dhankhar will inaugurate the Startup Expo in Kathua.
● Twenty-five startups from Northern States will showcase their products at the expo.
● Six women Entrepreneurs will also participate in the startup expo.
● The theme of the expo is Emerging Startup Trends in North India.
● Union Science and Technology Minister Dr Jitendra Singh, a lot of development took place in the
field of startups in the last nine years.
● The number of Startups in the country has grown to over one lakh from about 350 in 2014.
IIT Madras targets incubating 100 startups across various sectors in 2024
.
● Indian Institute of Technology Madras (IIT Madras) is targeting incubating at least 100 start-ups
across various sectors next year, in 2024.
● Kamakoti said the institute is working hard towards maintaining the number 1 ranking in the National
Institutional Ranking Framework (NIRF).
● IITM has been ranked No.1 in the ‘Overall’ Category for the fifth consecutive year in India Ranking
2023 released by NIRF, Ministry of Education.
● The Institute has also been ranked No.1 in the ‘Engineering Institutions’ category in the same
Rankings for eight consecutive years – from 2016 to 2023.
● In 2023, the Supreme Court signed a Memorandum of Understanding with IIT Madras for
collaborating on using Artificial Intelligence (AI) and emerging technologies for transcription tools,
summarization of page transcript, translation Tool.
FinMin allows 30th tranche of electoral bonds
● The Centre has approved the issuance of the 30th tranche of electoral bonds that will open for sale.
● The window for purchase and encashment of electoral bonds will be available till January 11.
● Electoral bonds have been pitched as an alternative to cash donations made to political parties as
part of efforts to bring transparency to political funding.
● The sale of the first batch of electoral bonds happened in March 2018.
● The latest window — the 30th tranche —comes ahead of the general elections due later this year.
India to become world’s largest metallurgical coal importer by 2026
● India will become the largest metallurgical coal importer in the world by 2026.
● According to the International Energy Agency (IEA), global metallurgical coal trade will increase by
about 2% to 353 million tonnes (MT) in 2026.
● Rise in India’s metallurgical coal imports will be aided by growing industrialization, higher steel
consumption and limited availability of coking coal.
● The IEA predicted that rising imports from other countries will balance off a decline in metallurgical
coal imports into China of roughly 28 MT, or 28% compared to 2023.
● IEA said imports into India will increase by 2026, by 16 MT (or 21%).
● According to IEA, the global metallurgical coal imports are expected to have increased by about 11%
y-o-y to 352 MT in 2023.
Govt extends tenure of PLI scheme for Auto industry by a year with partial amendments
● The tenure of the PLI scheme for the automobile industry has been extended by the government by
a year.
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● The tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components
has been extended by the government by one year with partial amendments.
● Under the amended scheme, the incentive would apply for five consecutive financial years,
beginning from the financial year 2023-24 (FY24).
● The distribution of incentives will take place in the next financial year 2024-25.
● The scheme also clarifies that an approved applicant would be eligible for benefits for 5 consecutive
financial years, but not more than the financial year ending March 31, 2028.
Defence Minister Rajnath Singh inaugurates all-girls Sainik school in Mathura
● Defence Minister Rajnath Singh inaugurated India’s first all-girl Sainik School at Vrindavan in the
Mathura district of Uttar Pradesh.
● Samvid Gurukulam Girls Sainik School has been opened under the initiative of opening 100 new
Sainik Schools in partnership mode with NGOs/private/state government schools in all states/union
territories.
● Training at the CBSE-affiliated school will be given by ex-servicemen.
● It has a strength of around 870 students.
● The main objective behind opening 100 new Sainik Schools is to provide quality education to the
students in tune with the National Education Policy (NEP).
● The inspiration for setting up the Sainik Schools came from the Royal Indian Military College (RIMC)
and Royal Indian Military Schools.
Shri Amit Shah launched the portal developed by NAFED and NCCF for registration, procurement and
payment of tur dal producing farmers in New Delhi
• Union Home Minister and Minister of Cooperation Shri Amit Shah launched the portal developed
by the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED)and National
Cooperative Consumers' Federation of India Limited (NCCF) for registration, procurement and
payment of tur dal producing farmers in New Delhi.
• Shri Amit Shah addressed the national symposium organized on ‘Self-reliance in Pulses’.
• Union Minister of Agriculture and Farmers Welfare Shri Arjun Munda, Minister of State for
Consumer Affairs Shri Ashwini Choubey, Minister of State for Cooperation Shri B. L. Verma and
many other dignitaries were present on the occasion.
• The portal will be launched at a national symposium on 'self-reliance in pulses' to be held here in
the capital.
CCI proposes draft rules on penalty under amended law
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• The Competition Commission of India has proposed that indirect taxes, trade discounts, and
intra-group sales will not be considered while computing the turnover of an entity for imposing a
penalty for any violation of the rules.
• The Competition (Amendment) Act, 2023, inter alia, amended Section 27, 48 and Section 64 of
the Act empowers the CCI to frame regulations for imposition of penalty on enterprise and/or
person based on turnover or income of such enterprise and/or person.
• Under Section 27 of the Competition Act, 2002, the CCI can impose penalties on enterprises or
individuals for participating in anti-competitive agreements or abusing a dominant position.
Cabinet approves Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki
International Airport, Ayodhyadham”
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal
to declare Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki
International Airport, Ayodhyadham”.
• Elevating Ayodhya Airport to international status is paramount for realizing Ayodhya's economic
potential and its significance as a global pilgrimage site, opening doors to foreign pilgrims and
tourists.
• The airport’s name, "Maharishi Valmiki International Airport, Ayodhyadham," pays homage to
Maharishi Valmiki, the sage attributed to composing the epic Ramayana, adding a cultural touch to
the airport's identity.
Cabinet approves signing of a Memorandum of Understanding (MoU) between India and United States
for International Development/India (USAID/India) for supporting Indian Railways to achieve Mission
Net Zero Carbon Emission
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, was apprised of signing of
Memorandum of Understanding between India and United States for International
Development/India (USAID/India) for supporting Indian Railways to achieve Mission Net Zero
Carbon Emission by 2030.
• The MoU provides a platform for Indian Railways to interact and share the latest developments
and knowledge in the railway sector.
• Earlier, USAID/India had also worked with IR focused on deployment of rooftop solar across
railway platforms.
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Cabinet approves signing of Memorandum of Understanding between India and Guyana on cooperation
in the hydrocarbon sector
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the signing of
Memorandum of Understanding (MoU) between the Ministry of Petroleum & Natural Gas,
Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in
the hydrocarbon sector.
• The proposed MoU covers the complete value chain of hydrocarbon sector including sourcing of
crude oil from Guyana, participation of Indian companies in Exploration and Production (E&P)
sector of Guyana, cooperation in the areas of crude Oil refining, capacity building, Strengthening
bilateral trade, collaboration in natural gas sector, collaboration in developing regulatory policy
framework in oil & gas sector in Guyana; Cooperation in the area of clean energy including biofuels
as well as renewables sector including solar energy etc.
Cabinet approves Memorandum of Understanding between Indian Space Research Organization
(ISRO) and Mauritius Research and Innovation Council (MRIC) concerning cooperation on the
development of a Joint Small Satellite
• The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a
Memorandum of Understanding signed at Port Louis, Mauritius between Indian Space Research
Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) under the aegis of
the Ministry of Information Technology, Communication, and Innovation of the Republic of
Mauritius, concerning cooperation on the development of a Joint Small Satellite.
• Signing of this MoU shall enable the joint realisation of small satellite between ISRO and MRIC.
The satellite realisation is proposed to be completed in 15 months’ time frame.
• The estimated cost for realisation of the joint satellite is Rs.20 crore, which will be borne by the
Government of India. This MoU does not involve any other exchange of funds between the Parties.
Cabinet approves overarching scheme “PRITHvi VIgyan (PRITHVI)” of the Ministry of Earth Sciences
• The Union Cabinet Chaired by the Prime Minister, Shri Narendra Modi has approved the
overarching scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences, for implementation
during the period from 2021-26 at an overall cost of Rs. 4,797 crore.
• The scheme encompasses five ongoing sub-schemes namely “Atmosphere & Climate Research-
Modelling Observing Systems & Services (ACROSS)”, “Ocean Services, Modelling Application,
Resources and Technology (O-SMART)”, “Polar Science and Cryosphere Research (PACER)”,
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“Seismology and Geosciences (SAGE)” and “Research, Education, Training and Outreach
(REACHOUT)”.
India launches a single-window portal for medical devices management
• India has launched National Single Window System (NSWS) to streamline the imports of Medical
Devices.
• It has been designed by Tata Consultancy Services (TCS).
• This portal will act as 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).
Hit-and-run law: Truckers end protest after Centre says decision after talks
• Centre will implement the new 'Hit-and-Run Law' after consulting with truckers.
• Truck drivers' associations called off their nationwide protest against the new penal provisions in
the Bharatiya Nyay Sanhita (BNS) regarding hit-and-run cases.
• The Home Ministry, this after discussions with representatives of the All India Motor Transport
Congress, the second day of the strike.
• The new law provided that if drivers cause a serious road accident by negligent driving and run
away without informing the police or any administrative officer, they can face imprisonment of up to
10 years or a fine of Rs 7 lakh.
Union Minister Sarbananda Sonowal to chair first Inland Waterways Development Council Meeting in
Kolkata
• Union Ports, Shipping and Waterways Minister Sarbananda Sonowal will chair the first Inland
Waterways Development Council Meeting in Kolkata.
• During the meeting, Mr Sonowal will unveil groundbreaking initiatives, including Harit Nauka -
Guidelines for Green Transition of Inland Vessels and the River Cruise Tourism Roadmap 2047.
• The Ministry has set a target to elevate the modal share of Inland Water Transportation from the
current two per cent to five per cent, aligning with the goals outlined in the Maritime India Vision
2030.
SVAMITVA Scheme wins Best Innovation Award for Innovation Sandbox presentation during Public
Policy Dialogues–2024 at Indian School of Business, Hyderabad
.
• The Ministry of Panchayati Raj participated in the Innovation Sandbox presentation and
showcased the “Digital Transformation Initiatives in Land Governance through SVAMITVA
Scheme” detailing the processes followed by States to digitalize land governance systems
transparently and efficiently.
• The Ministry of Panchayati Raj has been conferred with the prestigious 1st Prize in the Innovation
Sandbox presentation for “Digital Transformation Initiatives in Land Governance through
SVAMITVA Scheme” at the second annual three-day “Public Policy Dialogues” Conclave of the
Bharti Institute of Public Policy (BIPP), Indian School of Business (ISB), Hyderabad during 3rd
January – 5th January 2024.
Shri Nitin Gadkari inaugurates and lays the foundation stone of 12 National Highway projects with a
total length of 105 km worth over Rs 1464 Crore in Kerala
• Shri Nitin Gadkari inaugurated and laid the foundation stone of 12 National Highway projects with a
total length of 105 km, worth over ₹1464 Crore, in the presence of Union MoS Shri V.
Muraleedharan, Kerala PWD Minister Shri. P. A. Mohammed Riyas , MP from Kasargod Shri
Rajmohan Unnithan, MLAs, and Senior Officials in Kasargod, Kerala.
• The proposed projects aim to enhance seamless connectivity between Tamil Nadu and Kerala,
ensuring swift and trouble-free transportation.
• This initiative holds the promise of reducing overall transportation costs.
PM inaugurates Kochi-Lakshadweep Islands Submarine Optical Fibre Connection
• Prime Minister, Shri Narendra Modi, in Kavaratti, Lakshadweep, inaugurated the Kochi-
Lakshadweep islands submarine optical fibre connection (KLI-SOFC) project among various
developmental projects worth more than Rs 1,150 crore covering a wide range of sectors including
technology, energy, water resources, healthcare and education.
• It is the submarine cable connectivity project from the Mainland (Kochi) to eleven Lakshadweep
Islands namely, Kavaratti, Agatti, Amini, Kadmat, Chetlet, Kalpeni, Minicoy, Androth, Kiltan,
Bangaram and Bitra has been extended.
• The project is funded by the Universal Services Obligation Fund (USOF), Department of
Telecommunication.
• Total link distance: 1,868 kilometres. Total cost of project : Rs 1072 crore plus taxes.
Election Commission tweaks rules for allocation of symbols to unrecognised political parties
• The Election Commission of India introduced new regulations for allocating symbols to Registered
Unrecognised Political Parties (RUPPs).
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• Now, these parties must provide:

• audited accounts from the last three financial years,
• expenditure statements from the last two elections, and
• the signature of the authorized party official along with their symbol application.
• Article 324 of the Indian Constitution grants the ECI the authority to register political parties.
• The registration of all political parties is governed by the provisions of Section 29A of the
Representation of the People Act, 1951.
Amit Shah launches portal for procurement of pulses

• To register farmers for selling the dal and receiving payments directly into their bank accounts,
Cooperation Minister Amit Shah launched a procurement portal e-samridhi for tur dal.
• He appealed to the farmers to adopt pulses and make the country self-reliant in the pulses sector
before January 1, 2028 so that India does not have to import even a single kilogram of pulses.
• This portal will help to streamline the entire process for tur dal growers in Maharashtra, Andhra
Pradesh, Telangana, Gujarat, Karnataka and Jharkhand.
MoU for several investments to be signed on second day of global investors meet in Tamilnadu
• During the Global Investors Meet, discussions were held on climate change missions, circular
economy, AI, and providing a robust environment for start-ups and SMEs.
• Several investment MoUs were expected to be signed.
• The Additional Chief Secretary to the Department of Environment announced that three missions
- Green Tamil Nadu, Climate Change, and Wetlands - have been implemented.
• The Tamil Nadu Coastal Mission will soon be implemented.
• Climate protection teams will be created in every district.
• Industries were encouraged to develop initiatives to achieve zero carbon emissions.
Gujarat to host tenth edition of Vibrant Gujarat Global Summit commencing in Gandhinagar
• Gujarat is all set to host the tenth edition of the Vibrant Gujarat Global Summit commencing at
Mahatma Mandir in Gandhinagar.
• The Tenth edition will celebrate “20 Years of Vibrant Gujarat as the Summit of Success”.
• The theme of the summit this time is 'Gateway to the Future'.
India tops the list of source markets for tourism into Sri Lanka in 2023
• India has topped the list of source markets for tourism into Sri Lanka in 2023.
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• The island has welcomed 1.487 Million tourists during the last year with India contributing over
20% arrivals.
• In all, over 3 lakh Indian tourists reached Sri Lanka in 2023 followed by Russia which contributed
1.97 lakh.
• Tourism holds a pivotal position in Sri Lanka’s economy as a top foreign revenue source.
• Tourism contributed 2.1 billion US Dollars from 1.1 billion Dollars achieved in the previous year.
• The connectivity between the two countries has improved over the last year as air travel resumed
between Jaffna and Chennai in December 2022.
India starts four-year term as UN Statistical Commission member
• India started its four-year term as a member of the United Nations Statistical Commission.
• The country had won the election to the global statistics body in April after a gap of nearly two
decades.
• The period of India’s term corresponds with the time that the 24-member body will decide on new
norms for national accounts, which will also play an important role in changing India’s GDP
calculations.
About UN Statistical Commission
• The UN Statistical Commission was established in 1947 and is the highest body of the global
statistical system.
• The Commission consists of 24 member countries. The term of office of members is four years.
• India was a member of the Statistical Commission last in 2004 and the country is returning to the
UN agency after a gap of two decades.
• Headquarters: New York.
PM Modi Inaugurates India's Largest Global Trade Show at Vibrant Gujarat Summit 2024
• Prime Minister Narendra Modi inaugurated the country's largest Global Trade show at
Gandhinagar one day ahead of the Vibrant Gujarat Global Summit 2024.
• President of Mozambique, Filipe Nyusi and President of Timor Leste, José Ramos-Horta, Gujarat
CM Bhupendra Patel were present on the occasion.
• Spread across an area of two lakh square meters, the Vibrant Gujarat Global Trade Show will be
India’s largest-ever Global Trade Show.
• A total of 100 countries are participating in the five-day trade show as visiting countries, while 33
countries are joining as partners.
E-way bills without e-invoice details for B2B, B2E transactions to be blocked from March 1
.
• Selected GST payers will not be able to generate e-way bills without details of e-invoice with effect
from March 1, 2024.
• This is applicable for e-invoice-enabled taxpayers and for the transactions related to supplies
under B2B (Business to Business) and exports.
• However, EWBs for other transactions such as B2C (Business and non-supplies) will function as
usual without any change.
• As on date, businesses with an annual turnover of ₹5 crore or more are mandatorily required to
generate e-invoices, which means 10 lakhs assesses are required to comply with this.
• This number does not include exempted categories such as banks, non-banking financial
companies, or insurance companies.
PM Modi inaugurates and lays foundation stone of several development projects worth 30,500 crore
rupees in Maharashtra
• Prime Minister inaugurated and laid the foundation stone of a slew of development projects worth
over 30,500 crore rupees in Maharashtra.
• In Mumbai, Prime Minister inaugurated the Atal Bihari Vajpayee Sewari - Nhava Sheva Atal Setu,
which aims to improve ease of mobility by strengthening urban transport infrastructure. Built at
cost of 17,840 crore rupees, Atal Setu is the longest sea bridge in the country.
• Prime Minister inaugurated, dedicated to the nation and laid the foundation stone of multiple
development projects worth more than 12,700 crore rupees in the public programme in Navi
Mumbai.
Dr Mansukh Mandaviya inaugurates National Institute of Pharmaceutical Education and Research in

Guwahati, Assam
• Dr Mansukh Mandaviya, Union Minister of Chemicals and Fertilizers & Health and Family
Welfare virtually inaugurated the permanent campus of National Institute of Pharmaceutical
Education and Research (NIPER) in Guwahati, Assam.
• He also laid the foundation stone of NIPER Hyderabad and NIPER Raebareli.
• In a significant boost to healthcare infrastructure in the Northeast, Dr Mandaviya dedicated five
new facilities in the Regional Institute of Paramedical and Nursing Science (RIPANS) in Aizawl,
Mizoram to the nation
NSPAAD launches Mobile app ‘Report Fish Disease’ to monitor fish diseases across country
.
• The National Surveillance Programme for Aquatic Animal Diseases (NSPAAD) project has
introduced a mobile app ‘Report Fish Disease’ to track and monitor fish diseases across the
country.
• The mobile application intends to empower fish farmers with a convenient and efficient platform
to report diseases on their farms.
• Central Institute of Fisheries Technology (CIFT) is one of the collaborative partners of the
NSPAAD project of which ICAR-NBFGR is the lead institute, under which this app is developed.
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Health Ministry notifies revised Pharma manufacturing rules under schedule M to ensure quality control
• The Union Health Ministry announced the implementation of the revised Schedule M as part of
the Drugs and Cosmetics Rules, 1945.
• This amendment introduces stringent Good Manufacturing Practices (GMP) and mandates the
requirements of premises, plant, and equipment for pharmaceutical products.
• The revision aims to bring Indian GMP recommendations in line with international standards,
particularly those of the World Health Organization (WHO).
• The revised rules are to be implemented based on company turnovers where -
• The medium and small manufacturers (with an annual turnover of less than ₹250 crore) will have
to implement the revised rules within 12 months from its date of publication.
CCEA approves introduction of sulphur coated urea at ₹266.50 for 40 kg bag
• The Ministry of Chemicals and Fertilizers recently conveyed the government's decision on the
Price of Urea Gold to all fertilizer manufacturing companies.
• The government introduced "Urea Gold," a sulphur-coated urea, to combat soil deficiencies.
• The Cabinet Committee on Economic Affairs (CCEA) fixed the maximum retail price (MRP) of
Urea Gold at ₹266.50 per 40 kg bag, aligning it with 45 kg bags of Neem Coated Urea.
DPIIT organises Startup India Innovation Week 2024

• The Department for Promotion of Industry and Internal Trade (DPIIT) is organising the Startup
India Innovation Week 2024 from 10th January to bring together the country’s startups,
entrepreneurs, investors, policymakers, and other stakeholders.
• The Startup India initiative was launched by the Prime Minister Narendra Modi on 16th January
2016 to build a strong ecosystem for nurturing innovation, boosting startups, and encouraging
investments in the startup ecosystem of the country.
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• Commerce and Industry Ministry said, the Indian startup ecosystem has grown from strength to
strength over the years.
Land Ports Authority Releases Report on Gender-Inclusive Framework for Cross-Border Trade in
India
• Land Ports Authority of India (LPAI) has released a report on 'Engendering Land Ports in India' in
New Delhi.
• The main objective of the report is to develop a framework for gender inclusive cross border
trade and tourism through land Ports in the country.
• Chairman of LPAI Aditya Mishra, a step towards making a gender-positive environment.
• The Land Ports Authority of India will implement the recommendation of the reports to make land
Ports more gender neutral.
Shri Nitin Gadkari inaugurates, lays foundation stones of 29 highway projects worth Rs. 4,000 crore in
Punjab
• Union Minister for Road Transport & Highways, Shri Nitin Gadkari inaugurated 29 National
Highway projects with an investment of more than Rs 4,000 crore in Hoshiarpur, Punjab.
• The Union Minister of State for Commerce and Industry, Shri Som Prakash, Punjab BJP State
President Shri Sunil Kumar along with MPs, MLAs and officials were also present on the
occasion.
• The implementation of the projects inaugurated and foundation stone laid will improve the
infrastructure, which will lead to overall economic development of the implementation area and
improve the quality of life of the population.
• There will be seamless and free movement of traffic which will also improve the efficiency of
freight transportation.
PM to inaugurate 27th National Youth Festival in Nashik, Maharashtra on 12th January
• Prime Minister Shri Narendra Modi will inaugurate the 27th National Youth Festival in Nashik,
Maharashtra on 12th January and will address the youth of the nation.
• This year, National Youth Day will be celebrated by all field organisations of the Department of
Youth Affairs in districts pan-India in collaboration with multiple Government departments.
• ‘MY Bharat’ volunteers throughout the country, with support from NSS units, NYKS and many
educational institutions will coordinate their energies to carry out activities to volunteer for India.
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• Youth Clubs will also bring their vibrant energy to the celebration, ensuring a truly inclusive
atmosphere.
Phase 1 of Great Nicobar trans-shipment hub project to cost ₹18,000 cr

• The first phase of the proposed greenfield port at Galathea Bay in Great Nicobar Island is
expected to be built at a cost of ₹18,000 crore.
• The Ministry of Ports, Shipping and Waterways plans to start the tendering process for the same
over the next 30-40 days.
• The first phase will have a capacity of 4 million TEUs (twenty equivalent units) and the port will
have a “deep draft” of over 20 metres allowing access to larger vessels.
• The Galathea Bay port project is to be developed on a public–private partnership basis targeting
international container trans-shipment movement and is estimated to cost ₹43,000 crore .
• It will come up in four phases having a total capacity of 16 million TEUs when ready, expectedly
by 2058.
ITC joins hands with Microsoft, Skymet to insulate tobacco farmers from weather vagaries
• ITC, a prominent Indian conglomerate, has joined forces with Microsoft and Skymet to address
the escalating challenges faced by tobacco farmers in India due to climate change.
• To combat the challenges posed by climate change, ITC has formulated a comprehensive
program in collaboration with Microsoft and Skymet.
• This initiative incorporates cutting-edge technologies such as drones, AI, and data analytics to
provide accurate weather forecasts, crop advisories, hotspot mapping, and nutritional supplementation.
PM Modi to inaugurate & lay foundation stone of multiple development projects worth over 30,500 crore
rupees in Maharashtra
• Prime Minister Narendra Modi will inaugurate and lay the foundation stone of multiple development
projects worth over 30,500 crore rupees in Maharashtra.
• Mr Modi will inaugurate Atal Bihari Vajpayee Sewari - Nhava Sheva Atal Setu to improve ease of
mobility by strengthening urban transport infrastructure.
• Atal Setu has been constructed at a total cost of more than 17,840 crore rupees.
• It is about a 21.8 km long 6-lane bridge having about 16.5 km length over sea and about 5.5 km on
the land.
• The project, developed at a cost of more than 1975 crore rupees will provide drinking water supply
to the Palghar and Thane districts of Maharashtra, benefiting about 14 lakh population.
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Union Minister Rao Inderjit Singh launches the MPLADS e-SAKSHI Mobile Application for the Revised
Fund Flow Procedure under the MPLAD Scheme
● The Minister of State (Independent Charge) of the Ministry of Statistics and Programme
Implementation (MoSPI) Rao Inderjit Singh launched the MPLADS e-SAKSHI Mobile
Application for revised fund flow procedure under the MPLAD Scheme, at Khurshid Lal
Bhawan, New Delhi.
● The launching event was attended by various dignitaries, including the Chief Statistician of
India-cum-Secretary, Additional Secretary, and other senior officers of the Ministry, as well as
senior officials of SBI and TCS.
● The objective of the MPLAD Scheme is to enable the Members of Parliament (MPs) to
recommend works of a developmental nature with emphasis on the creation of durable
community assets based on locally felt needs.
● The revised set of guidelines aims to broaden the scope of the Scheme to enable the MPs to
recommend the developmental works as per the changing needs of the community; with an
emphasis on improving the functioning, implementation and monitoring of the MPLAD
scheme.
● The launching of the e-SAKSHI mobile application for Members of Parliament (MPs) under the
MPLAD scheme will bring forth a myriad of benefits, revolutionizing the way they engage with
and manage development projects in their constituencies.
● The mobile app would offer convenience and accessibility, allowing MPs to propose, track,
and oversee the projects at their fingertips.
● This real-time access enhances decision-making processes, enabling swift responses to
emerging needs or issues.
● The application will streamline the communication between MPs and relevant authorities,
facilitating a more efficient exchange of information.
Prime Minister dedicates infrastructure projects worth more than ₹4,000 crores in Kochi, Kerala
● Indian Prime Minister, Shri Narendra Modi inaugurated three major infrastructure projects
worth more than Rs 4,000s crore in Kochi, Kerala.
● The projects being inaugurated include the New Dry Dock (NDD) at Cochin Shipyard
Limited (CSL), the International Ship Repair Facility (ISRF) of CSL, and LPG Import Terminal
of Indian Oil Corporation Limited at Puthuvypeen, Kochi.
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● These major infrastructure projects are in line with the Prime Minister’s vision to transform
India’s ports, shipping, and waterways sector, and build capacity and self-sufficiency in it.
● The Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal
joined the Prime Minister, Shri Narendra Modi when these four projects were dedicated to the
nation here at CSL
Overall Mineral Production Increases by 6.8% in November 2023
● The index of mineral production of the mining and quarrying sector for November 2023 (Base:
2011-12=100) at 131.1, is 6.8 % higher as compared to the level in the month of November,
2022.
● As per the provisional statistics of Indian Bureau of Mines (IBM) ,the cumulative growth for the
period April- November, 2023-24 over the corresponding period of previous year is 9.1 %
percent.
Key Highlights
● Production level of important minerals in November, 2023 were: Coal 845 lakh tonne, Lignite
33 lakh tonne, Natural gas (utilized) 2991 million cu. m., Petroleum (crude) 24 lakh tonne,
Bauxite 2174 thousand tonne, Chromite 135 thousand tonne, Copper conc. 9 thousand tonne
, Gold 85 kg, Iron ore 250 lakh tonne, Lead conc. 29 thousand tonne, Manganese ore 287
thousand tonne, Zinc conc. 136 thousand tonne, Limestone 352 lakh tonne, Phosphorite 101
thousand tonne, and Magnesite 98 thousand tonne.
● Important minerals showing positive growth during November, 2023 over November, 2022
include: Magnesite (14.1%), Coal (11%), Iron Ore (8%), Natural gas (U) (7.6%),
Limestone(6.5%), Manganese Ore (4.7%), Lignite(2%) and Zinc Conc.(1.7%) and Other
important minerals showing negative growth include: Petroleum(crude) (-0.4%), Bauxite (-
2.4%), Lead Conc.(-4.6%), Copper Conc.(-5.3%) , Gold (-35.6%), Chromite (-44.6%),
Phosphorite (-50.7%) and Diamond (-92.9%).
Union Minister Dr. Jitendra Singh to inaugurate 9th Indian International Science Festival in Haryana
● Minister of State for Science and Technology Dr Jitendra Singh will inaugurate the 9th Indian
International Science Festival in Faridabad, Haryana.
● The primary objective of this festival is to commemorate the world of science, making it
accessible to all.
● It will continue till 20th January, which aims to engage the public with science and celebrate
the joy of science.
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● The Department of Science and Technology informed that during the festival, 17 different
events are being organized keeping in mind different sections of the society like young
students, women scientists, toy manufacturers, social organizations, science teachers and
start-ups. School, College students and the general public can visit the festival through
registration.
● The department said that in the era defined by technological leaps, India emerges as a global
frontrunner, showcasing its unparalleled prowess on the international stage.
● From the ground-breaking Mars Orbiter Mission to the awe-inspiring Chandrayaan
expeditions, India is not just keeping pace with technological advancements, it is leading the
charge.
Vice President Jagdeep Dhankhar releases book titled ‘Fertilising the Future: Bharat’s March Towards
Fertilizer Self-Sufficiency
● Vice President Jagdeep Dhankhar released the book ‘Fertilising the Future: Bharat’s March
Towards Fertilizer Self-Sufficiency’ written by Chemicals and Fertilizers Minister Dr. Mansukh
Mandaviya.
● Sharing about the book release in a social media post, Dr. Mandaviya expressed his gratitude
to the Vice President.
● The Hindi version of the book is titled ‘Urvarak-Atmanirbharta ki Raah.’ Mandaviya further
added, the book delineates the journey of making India self-reliant in the fertilizer sector under
the leadership of Prime Minister Narendra Modi and the revolutionary changes that have taken
place till date.
Government May Extend Concessional 15 Pc Tax For New Manufacturing Units By One Year
● Industry seeks an extension to sunset period for getting the concessional tax rate of 15% for
companies that set up Greenfield manufacturing units.
● Industry bodies have petitioned the Finance Ministry for a three-year extension to the
concessional tax regime.
● The concessional tax regime ends on 31 March 2024.
● Despite the tax rates that are concessional (15% for newly established manufacturing
enterprises and 22% for all other corporations), the net growth in corporate income tax
collections in January was 12.37% higher than the previous year.
● The government revenues have been positively impacted by the lower or concessional tax
rates.
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● The industrial and manufacturing sector, especially MSMEs have also benefitted from the
lower or concessional tax rates.
● The industry is in favour of extending the sunset period by at least three years.
● Under Section 115BAB, a tax rate of 15% (17.16% after surcharge and cess) was declared in
2019 for newly established manufacturing enterprises.
● The deadline to avail of lower rates was originally set for March 31, 2023, but it was later
extended by a year.
PM Modi releases first instalment of PM-JANMAN to 1 lakh beneficiaries
● PM Modi released the first instalment to 1 lakh beneficiaries of PMAY-G under the PM-
JANMAN scheme.
● PM Modi released the first instalment of Pradhan Mantri Awas Yojana – Gramin under the
Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN).
● PM Modi released ₹540 crores as the first instalment of funding.
● Since the launch of the PM-JANMAN scheme, had sanctioned projects worth over ₹4,700
crore through 9 ministries under the PM-JANMAN package.
● PM-JANMAN was launched for the socio-economic welfare of Particularly Vulnerable Tribal
Groups (PVTGs) in November 2023.
● It has a budget of around 24,0004 crore rupees.
● It focuses on 11 critical interventions through nine ministries.
● It aims to improve the socio-economic conditions of the PVTGs by saturating PVTG
households and habitations with basic facilities.
● Safe housing, clean water to drink, better access to healthcare, nutrition, education, energy,
road and telecom connectivity, and chances for sustainable livelihood are some of these
facilities.
● Pradhan Mantri Awaas Yojana- Gramin (PMAY-G) was launched by the Ministry of Rural
Development.
● Under the PMAY- G, the beneficiaries are provided financial assistance of Rs 1.2 lakh in
plains and Rs 1.3 lakh in hilly states-Northeastern states and union territories (UTs) of Jammu
& Kashmir and Ladakh-as well as difficult areas and Integrated Action Plan (IAP) districts.
● Beneficiaries are based on housing deprivation parameters of Socio-Economic and Caste
Census (SECC), 2011 and are subjected to 13-point exclusion criteria followed by Gram
Sabha verification.
.
● This scheme is meant for people who do not own a house and people who live in kutcha
houses or houses which are severely damaged.
● At present, the minimum size of the houses to be built under the PMAY-G scheme has been
increased to 25 sq. mt. from 20 sq. mt.
CABINET APPROVALS:
(a) Cabinet approves Memorandum of Intent (MoI) between India and Netherlands on cooperation in
the field of Medical products Regulation
● The Union Cabinet chaired by Prime Minister Shri Narendra Modi was apprised of 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”.
● The MoI was signed on 7th November, 2023.
● The MoI seeks to establish a framework for fruitful cooperation and exchange of information
between the Central Drugs Standard Control Organization (CDSCO) 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 in matters relating to Medical products regulation in line with their International
responsibilities.
● The MoI between the regulatory authorities of the two countries will facilitate better
understanding of medical products regulation with regard to pharmaceuticals including raw
materials for pharmaceutical use, biological products, medical devices and cosmetic products.
● Convergence in the regulatory practices could help in increasing export of medicines from
India and consequently help in better employment opportunities for educated professionals in
the Pharmaceutical sector.
● The MoI will facilitate export of medical products leading to foreign exchange earnings.
● This would be a step towards an Atmanirbhar Bharat.
(b) Cabinet approves Memorandum of Understanding between India and Dominican Republic on
cooperation in the field of Medical Products Regulation
● The Union Cabinet chaired by Prime Minister Shri Narendra Modi was apprised of a
Memorandum of Understanding signed between the Central Drugs standard Control
.
Organization (CDSCO), Ministry of Health and Family Welfare, The Republic of 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 MoU was signed on 4th October, 2023.
● The MoU will promote exchange of information and cooperation in areas pertinent to medical
products and relevant administrative and regulatory matters within the jurisdiction of the
parties.
● In order to tackle issues of substandard, falsified medicines moving in the international
markets, interaction amongst regulatory agencies is facilitated through signing of MoU.
● Convergence in the regulatory practices could helping increasing export of medicines from
India and consequentially help in better employment opportunities for educated professionals
in the Pharmaceutical sector.
● The MoU will facilitate export of medical products leading to foreign exchange earnings.
(c) Cabinet approves Memorandum of Understanding between India and Kenya on cooperation in the
field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi was apprised of a
Memorandum of Understanding (MoU) signed between the Government of the Republic of
India through the 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.
Details:
● The MoU intends to promote closer cooperation and exchange of experiences and digital
technologies-based solutions in the implementation of digital transformational initiatives of
both the countries.
Implementation strategy and targets:
● The MoU shall come into effect from the date of signature of the Parties and shall remain in
force for a period of 3 years.
Impact:
● Both G2G and B2G bilateral Cooperation in the field of Digital Public Infrastructure (DPI) will
.
be enhanced.
No. of beneficiaries:
● MoU envisages improved collaboration leading to employment opportunities in the field of IT.
Background:
● MeitY is collaborating with a number of countries and multilateral agencies for fostering
bilateral and multilateral cooperation in the ICT domain.
● Over the period, MeitY has entered into MoUs/MoCs/Agreements with its counterpart
organisations/agencies from various countries to promote cooperation and exchange of
information in the ICT domain.
● This agrees with the various initiatives taken by the Government of India such as Digital India,
Atmanirbhar Bharat, Make in India etc. to transform the country into a digitally empowered
society and knowledge economy.
● In this changing paradigm, there is an imminent need for exploring business opportunities,
sharing of best practices and attracting investments in the digital sector to enhance mutual
cooperation.
(d) Cabinet approves Memorandum of Understanding (MoU) between India and Ecuador on
cooperation in the field of Medical Products Regulation
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, was apprised of a
Memorandum of Understanding signed between the Central Drugs Standard Control
Organization (CDSCO), Ministry of Health and Family Welfare, Government of the Republic of
India 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.
Benefit:
● The Memorandum of Understanding would facilitate better understanding of the regulatory
aspects between the two sides and would help in increased cooperation in the field of medical
products regulation and better coordination in international fora.
Employment Generation Potential:
● Convergence in the regulatory practices due to the MoU could help in increasing export of
medicines from India and consequentially help in better employment opportunities for
educated professionals in the Pharmaceutical sector.
Atmanirbhar Bharat:
.
● The MoU will facilitate export of medical products leading to foreign exchange earnings.
Background:
● The CDSCO is a Subordinate Office of the Directorate General of Health Services, which is an
attached office of the Department of Health and Family Welfare.
● CDSCO is the National Regulatory Authority for drugs, medical devices and cosmetics in
India. Agencia Nacional de Regulaction, Control Y Vigilancia Sanitria – ARCSA, Doctor
Leopoldo Izquieta Perez is the Regulatory Agency regulating these products in the Republic of
Ecuador.
(e) Cabinet approves Memorandum of Understanding between India and the European Commission on
Working Arrangements on Semiconductors Ecosystems under the framework of EU-India Trade and
Technology Council
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi was apprised of a
Memorandum of Understanding (MoU) signed between the Government of the Republic of
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).
Details:
● The MoU intends to strengthen cooperation between India and EU towards enhancement of
semiconductor for the advancement of Industries and digital technologies.
Implementation strategy and targets:
● The MoU shall come into effect from the date of signature and may continue until both sides
confirm that the objectives of this instrument have been achieved or until one side
discontinues its participation in this instrument.
Impact:
● Both G2G and B2B bilateral Cooperation to boost the resilience of the semiconductor supply
chains and leverage complementary strengths to promote collaboration in the field of
semiconductors.
Background:
● MeitY has been actively working to create a conducive environment for electronics
manufacturing.
● Programme for Development of Semiconductor and Display Manufacturing Ecosystem in India
.
was introduced to ensure the development of a robust and sustainable semiconductor and
display ecosystem in India.
● Enhancing bilateral collaboration to boost the semiconductor supply chains and leverage
complementary strengths to promote collaboration in the field of semiconductors, India and
EU signed this MoU which is another step towards mutually beneficial semiconductor-related
business opportunities and partnerships between India & EU.
(f) Cabinet approves creation of posts for the 16th Finance Commission
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the
creation of three posts at the level of Joint Secretary i.e. two posts of Joint Secretary and one
post of Economic Adviser for the 16thFinance Commission, which was constituted in
pursuance of Article 280 of the Constitution vide Notification.
● The newly created posts are required to assist the Commission in carrying out its functions.
● All other posts in the Commission have already been created as per the delegated powers.
(g) Cabinet approves equity investment by South Eastern Coalfields Limited for setting-up 1×660 MW
Thermal Power Plant through JV of SECL and MPPGCL
● The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri 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).
● The CCEA has approved the proposal of equity investments by SECL, MCL and CIL as
follows:
● Equity Capital of Rs.823 Crore (± 20%) by SECL considering a Debt-Equity Ratio of 70:30 and
49% Equity Investment in JV Company with an estimated Project Capex of Rs.5,600 Crore
(accuracy of ±20%) for the proposed 1×660 MW Supercritical Thermal Power Plant through
JV of SECL and MPPGCL at Amarkantak Thermal Power Station in Village Chachai, Anuppur
District, Madhya Pradesh.
● Equity Capital of Rs.4,784 Crore (± 20%) by MCL for the proposed 2×800 MW Super-Critical
Thermal Power Plant in Sundargarh District, Odisha with an estimated Project Capex of
Rs.15,947 Crore (accuracy of ±20%) through MBPL.
● Approval to MBPL, an SPV of MCL to set up the 2×800 MW Super-Critical Thermal Power
Plant.
.
● Equity Investment by CIL beyond 30% of its net worth in the JV of SECL-MPPGCL (Rs.823
Crore ± 20%) as at (a) above, and in MBPL, a 100% wholly owned subsidiary of MCL
(Rs.4,784 Crore ± 20%) as at point (b) above.
● Coal India Limited (CIL), the largest coal mining company in the world, will set up following
two Pithead Thermal Power Plants, through its subsidiaries, with a view to provide cheaper
power to the country –
● 1×660 MW Supercritical Coal-Based Thermal Power Plant (TPP) at Amarkantak Thermal
Power Station in Village Chachai, Anuppur District, Madhya Pradesh, through JV between
SECL and Madhya Pradesh Power Generating Co Ltd (MPPGCL);
● 2×800 MW Supercritical Thermal Power Plant, in Sundergarh District, Odisha, through
‘Mahanadi Basin Power Ltd’ (MBPL), a Wholly Owned Subsidiary of MCL.
The Prime Minister inaugurated the new Boeing India Engineering & Technology Center campus in
Bengaluru, Karnataka.
● Indian Prime Minister, Shri Narendra Modi inaugurated the new state-of-the-art Boeing India
Engineering & Technology Center (BIETC) campus in Bengaluru, Karnataka.
● Built with an investment of Rs 1,600 crores, the 43-acre campus is Boeing’s largest such
investment outside the USA.
● The Prime Minister also launched the Boeing Sukanya Program which aims to support the
entry of more girl children from across India into the country’s growing aviation sector.
● The Prime Minister took a walkthrough of the Experience Center and interacted with Sukanya
beneficiaries.
● The Prime Minister inaugurated the new state-of-the-art Boeing India Engineering &
Technology Center (BIETC) campus in Bengaluru. Built with an investment of Rs. 1,600
crores, the 43-acre campus is Boeing’s largest such investment outside the USA.
Key Highlights
● Boeing’s new campus in India will become a cornerstone for partnership with the vibrant
startup, private and government ecosystem in India, and will help develop next-generation
products and services for the global aerospace and defence industry.
● The Prime Minister also launched the Boeing Sukanya Program which aims to support the
entry of more girl children from across India into the country’s growing aviation sector.
● The program will provide opportunities for girls and women from across India to learn critical
skills in the science, technology, engineering and maths (STEM) fields and train for jobs in the
.
aviation sector. For young girls, the program will create STEM Labs at 150 planned locations
to help spark interest in STEM careers. The program will also provide scholarships to women
who are training to be pilots.
Prime Minister lays foundation stone for eight projects under AMRUT scheme worth approximately Rs.
2,000 crores in Solapur, Maharashtra.
● The Prime Minister, Shri Narendra Modi laid the foundation stone of 8 AMRUT (Atal Mission
for Rejuvenation and Urban Transformation) projects worth around Rs. 2,000 crores in
Solapur, Maharashtra.
● Shri Modi 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.
● Governor of Maharashtra, Shri Ramesh Bais, Chief Minister of Maharashtra, Shri Eknath
Shinde, Deputy Chief Ministers of Maharashtra, Shri Devendra Fadnavis and Shri Ajit Pawar
and Founder of Raynagar Federation, Shri Narsayya Adam were present on the occasion
among others.
● Union Tourism Minister G Kishan Reddy inaugurated the National Skill Training Institute in
Hyderabad, Telangana.
● Constructed for ₹19.90 crore in an area of 4 acres, the institute offers short-term and long-
term skilling courses to women in various sectors.
● Reddy emphasized that empowering women has been a major priority for the Central
Government.
● He stated that the government has launched numerous schemes dedicated to empowering
women across India, such as Beti Bachao Beti Padhao and PM Ujjwala.
● He also added that several other initiatives have been taken to help women increase their
opportunities to build decision-making power.
● The event was attended by several women achievers like Saina Nehwal and Sunita Krishnan.
Union Minister Hardeep Singh Puri launches first pilot project to make jet fuel from alcohol in Pune
● The first pilot technology project to make jet fuel from alcohol was inaugurated by Union
Petroleum and Natural Gas Minister Hardeep Singh Puri in Pune.
.
● This project will produce sustainable biological aviation fuel or SAF.

● This pilot project has been set up in the research and development department of Praj Udyog
Group in Pirangut Industrial Estate near Pune.
● Pramod Chaudhary, President of Praj, along with officials of Indian Oil and other oil
companies were present for the inauguration program.
● There is a huge demand for this bio aviation fuel in the global market, and it is a big challenge
to provide the necessary raw materials for it.
● He added that most of the countries around the world have great expectations from India for
biofuel.
● He congratulated the engineers of Praj Udyog Group for setting up this project in India before
Brazil and expressed confidence that this project will truly be a pioneer for the world.
● After the inauguration, the Minister along with other officials inspected the project and
expressed satisfaction over the use of state-of-the-art technology.
● The flight from Pune to Delhi was completed last year using bio aviation fuel made from
alcohol. bio aviation
● Puri welcomed the flight at the Delhi airport.
● This biofuel production industry will have a huge scope in the future as even if at least one
percent of the total aviation fuel used in India is blended with this sustainable bio aviation fuel,
at least 14 crore litres of biofuel will be needed every year.
Ministry of Education issues guidelines for coaching centres; prohibits intake of students below 16 years
● According to the new guidelines announced by the Education Ministry, coaching centres
cannot enroll students below 16 years of age, make misleading promises and cannot
guarantee ranks or good marks.
● The guidelines have been prepared to address the need for a legal framework to regulate
coaching institutes and manage the unregulated growth of private coaching centres.
● The guidelines came after complaints received by the government regarding increasing cases
of student suicides, fire incidents, lack of facilities in coaching incidents, as well as the
teaching methods adopted by them.
Key Highlights
● No coaching center will hire tutors with qualifications less than graduation.
● Student enrollment should be done only after secondary school examination.
● Coaching institutes cannot publish or cause to be published or participate in publishing any
.
misleading advertisement.
● The Publication includes any claim relating directly or indirectly to the quality of the coaching
or the facilities provided therein or the result obtained by the student attending such a
coaching centre or such class.
● No institution shall be registered unless it has a counseling system as required by these
guidelines.
● Coaching centers cannot take the services of any tutor or person who has been convicted of
any offense involving moral turpitude.
● The government has proposed the registration of new and existing centers within three
months of the implementation of the guidelines to ensure proper monitoring of coaching
institutes.
● The State Government will be responsible for monitoring the activities of the coaching center
and making inquiries about any coaching center regarding the fulfillment of required eligibility
of registration and satisfactory activities of the coaching center.
Production Linked Incentive Schemes lead to production/ sales of Rs. 8.61 lakh crore and employment
generation of over 6.78 lakh
● Production Linked Incentive (PLI) Schemes witness over Rs. 1.03 lakh crore of investment till
November 2023, which has led to production/ sales of Rs. 8.61 lakh crore and employment
generation (direct & indirect) of over 6.78 lakhs.
● Incentive amount of around Rs. 4,415 crore disbursed under PLI Schemes for 8 Sectors
viz. Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical
Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones &
Drone Components.
● PLI Scheme, commonly abbreviated as the Production Linked Incentive Scheme, is an
initiative started by the Government of India.
● It is a form of performance-linked incentive to give companies incentives on incremental sales
from products manufactured in domestic units.
● Keeping in view India’s vision of becoming ‘Atmanirbhar’, PLI Schemes for 14 key sectors
[with an incentive outlay of Rs. 1.97 lakh crore (over US$26 billion)] are under implementation
to enhance India’s Manufacturing capabilities and Exports.
● About Rs 1,515 crore was disbursed in FY24 till October, while it was Rs 2,900 crore in 2022-
23, when payments under the scheme commenced.
.
● By end of this fiscal, the disbursal target is Rs 11,000 crore.

● As on date, 746 applications have been approved in 14 sectors with expected investment of
over Rs 3 lakh crore.
● 176 MSMEs are among the PLI beneficiaries in sectors such as Bulk Drugs, Medical Devices,
Pharma, Telecom, White Goods, Food Processing, Textiles & Drones.
● Production of mobile phones increased by more than 125% and export of Mobile Phones
increased ~4 times since FY 2020-21.
● Foreign Direct Investment (FDI) increased by ~254% since the inception of the PLI scheme for
LSEM.
The Indian Government has extended the ban on the Students Islamic Movement of India for an
additional five years under the Unlawful Activities (Prevention) Act (UAPA).
• The Government has declared Students Islamic Movement of India (SIMI) as an 'Unlawful
Association' for a further period of five years under the Unlawful Activities (Prevention) Act (UAPA)
1967.
• The last ban on SIMI was imposed in January 2019.
• Ministry of Home Affairs, SIMI is continuing to be involved in fomenting terrorism, disturbing peace
and communal harmony in the country which are prejudicial to the sovereignty, security and integrity
of India.
• It added that many criminal cases have been registered against SIMI and its members under various
sections of law including the Unlawful Activities (Prevention) Act.
Shri Jyotiraditya M. Scindia inaugurated the UDAN flight service between Dehradun and Pithoragarh.
• Union Minister of Civil Aviation and Steel, Shri Jyotiraditya M. Scindia virtually inaugurated a UDAN
flight connecting Dehradun and Pithoragarh from New Delhi. Chief Minister of Uttarakhand Shri
Pushkar Singh Dhami also joined the event from Pithoragarh, Uttarakhand.
• The flight connecting the two cities is to be operated by Fly Big under the RCS UDAN Scheme.
• Pithoragarh Airport has been developed under the UDAN-RCS scheme, with a cost of Rs 6.68 Crore
into a 2B VFR Airport.
• The RCS flight between Dehradun and Pithoragarh was awarded under UDAN 4.2.
• Fly Big will be operating a 19-seater Twinotter DHC6-400 aircraft for ferrying the passengers.
Shri Nitin Gadkari has inaugurated nine highways in Madhya Pradesh, which are worth a total of Rs.
.
2,367 crore.
• Union Minister Shri Nitin Gadkari inaugurated and laid the foundation stone of 9 National Highway
projects costing Rs 2,367 crore and total length of 225 km in Jabalpur, Madhya Pradesh.
• Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, Union Minister Shri Virendra Kumar, Union
Minister of State Shri Faggan Singh Kulaste, Madhya Pradesh BJP State President Shri V.D.
Sharma, State Minister Shri Prahlad Singh Patel, State Minister Shri Rakesh Singh, MPs-MLAs,
officers and other dignitaries were also present on the occasion.
• Among the projects inaugurated, a 1.5 km long bridge has been constructed on Jamni river on
Tikamgarh-Jhansi road at a cost of Rs 43 crore.
• This will make it easier to reach Orchha, the tourist destination of Rajaram's temple. Construction of
a road with 2-lane paved shoulder from Chandia Ghat to Katni Bypass will bring a qualitative change
in connectivity to the coal mines of Katni.
• This will benefit the coal mining industry.
• Widening of Bamitha-Khajuraho road will strengthen tourism in Khajuraho. Besides, the social and
economic condition of this area will also improve.
The second edition of India Energy Week scheduled to take place in Goa
• The second edition of India Energy Week (IEW) is scheduled to take place in Goa from the 6th to
the 9th of February
• Addressing the curtain raiser press conference, Petroleum and Natural Gas Minister Hardeep Singh
Puri said that the event is expected to see the participation of Energy ministers from 17 different
countries, over 35 thousand attendees, and more than 900 exhibitors.
• IEW represents a golden opportunity to showcase the developments on the energy front and provide
the platform for further development and growth in the energy sector.
• Six countries namely Canada, Germany, Russia, the Netherlands, the UK, and the USA will set up
their pavilions at the event
• The government recently had an energy startup challenge organised by the Ministry of Petroleum
and Natural Gas.
• Out of the approximately 120 applications, five startups were selected.
• The winners of the startup challenge will be provided mentorship opportunities by Industry leaders,
and an opportunity to exhibit their startup ideas.
Air India 'disagrees' with regulator’s Rs 1.1 crore fine over safety violations
.
• The Indian civil aviation regulator Directorate Genera l of Civil Aviation has imposed a penalty of
₹1.1 crore on Air India for safety violations on certain flights.
• The airline has been fined for non-compliance of regulations and safety manuals in case of oxygen-
related compliant requirements for operation of leased Boeing B777 aircraft.
About Air India
• Air India is the flag carrier airline of India.
• It is owned by Air India Limited, a Tata Group enterprise and operates a fleet of Airbus and Boeing
aircraft.
• It is headquartered in Gurugram.
• CEO: Campbell Wilson.
IREDA Releases Vigilance Journal 'Pahal'

• Indian Renewable Energy Development Agency (IREDA), a Government of India enterprise under
the administrative control of the Ministry of New and Renewable Energy, has unveiled 'Pahal'- the
insightful house journal of its Vigilance Department.
• The journal was unveiled by the Chairman & Managing Director of IREDA, Shri Pradip Kumar Das
on January 25, 2024.
• Indian Renewable Energy Development Agency Limited is an Indian public sector enterprise that
provides financial assistance and other services to projects related to renewable sources of energy
and energy efficiency/conservation.
• Founded: 1987
The 7th edition of "Pariksha Pe Charcha," an event hosted by PM Modi, will be held in 2024.
• The 7th edition of Prime Minister Narendra Modi’s ‘Pariksha Pe Charcha 2024’ will be held on the
29th of this month.
• Ministry of Education said that this year, through the unique interactive program, over 4,000
participants will be interacting with the Prime Minister.
• The programme will be held in a town hall format at Delhi’s Bharat Mandapam
• Pariksha Pe Charcha is a programme where students, parents, and teachers from across the nation
and also from overseas interact with the Prime Minister to discuss anxieties related to examinations
and life after school.
.
• Pariksha Pe Charcha is part of the larger movement ‘Exam Warriors’ led by Mr Modi to create a
stress-free atmosphere for youngsters.
Shri Amit Shah launched a book, 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New
India'
• Union Home Minister and Minister of Cooperation, Shri Amit Shah launched a book titled, 'A
Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India', written on the life and works
of PM Modi in Braille script in New Delhi
• Shri Amit Shah said that PM Shri Narendra Modi Ji in the last 10 years has revived our civilisational
values and cultural ethos to build the edifice of a new Bharat. In this path, Modi Ji has awakened the
world to Bharat's inner self.
• Launched the book 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India' written
on the life and works of Modi Ji in Braille script.
• The book will help people with visual impairment to know about the life journey of Modi Ji and the
transformation he has ushered in.
Govt expands scope of financial services that can be taken up at IFSC
• The government expanded the scope of activities at the International Financial Services Centre
(IFSC).
• The government has included services such as bookkeeping, and accounting to be undertaken at
the International Financial Services Centre (IFSC).
• Various services including book-keeping, accounting, taxation, and financial crime compliance will
be undertaken as part of the financial services at the International Financial Services Centre (IFSC).
• The move will help the IFSC in Gujarat to draw a large number of firms—from accounting to tax
consultancy—to take advantage of its state-of-the-art facilities and spur services exports.
• The Ministry of Finance has issued a notification regarding expanding services at the International
Financial Services Centre.
• The financial services are provided by the International Financial Services Centres Authority
(IFSCA) to non-residents.
About IFSCA
• IFSCA is a statutory body. It was set up in April 2020 under the International Financial Services
Centres Authority Act, 2019.
• It was established to regulate all financial services in International Financial Services Centres
(IFSCs).
.
• At present, GIFT City, Gandhinagar in Gujarat is India’s first and only operational International
Financial Services Center.
President Droupadi Murmu presented the Best Electoral Practices Awards for the year 2023 in New
Delhi.
• President Droupadi Murmu has informed that the Election Commission of India plays an important
role in the diversity of democracy
• The President Informed, this year General Election will be conducted across the country, and during
this mega-polling exercise, 12 lakh polling booths will be set up in the country.
• There are over 96 crore voters in the country and Election Commission is taking every step to
connect with the voters
• The Election Commission is celebrating the 14th National Voters’ Day with the theme ‘Nothing Like
Voting, I Vote For Sure’.
• President presented the Best Electoral Practices Awards for the year 2023.
• The awards were presented to State and District level officers for their outstanding performance in
the conduct of elections during 2023 in different spheres such as IT initiatives, Security
Management, Election Management, Electoral Roll, and contribution in the field of voter awareness
and outreach.
• The awards were also given to important stakeholders including government departments, and
media organizations for their valuable contribution towards voters’ awareness.
2 coal gasification plants approved by Cabinet in West Bengal and Odisha to produce 100 MT coal gas
by 2028-29.
• The Government has approved that Coal India Limited (CIL) will set up two Coal Gasification Plants
with a view to achieve the target of 100 MT coal gasification by the year 2030 and to fulfil India’s
dual objectives of self-reliance an d energy independence.
• Union Cabinet meeting, Union Minister for Coal Pralhad Joshi said that total investment in the joint
venture of CIL and GAIL for the proposed Coal-to-Sy nthetic Natural Gas at Sonepur Bazari Area of
Eastern Coalfields Limited in West Bengal will be of 13 thousand 52 crore rupees.
• Mr Joshi informed that for CIL and BHEL Joint Venture for the proposed Coal-to-Ammonium Nitrate
at Mahanadi Coalfields Limited in Jharsuguda district of Odisha will be 11 thousand 782 crore
rupees.
• He informed that by 2028 - 29 these projects will be operationalised.
.
• The Centre has also approved a proposal for equity investment for setting up of Coal-to-Synthetic
Natural Gas Project through a Joint venture of Coal India Limited - CIL and Gas Authority of India
Limited- GAIL.
• It has also approved for setting up of the Coal-to-Ammonium Nitrate Project through a Joint venture
of CIL and Bharat Heavy Electrical Limited- BHEL.
• In another decision, Pralhad Joshi said, the Union Cabinet has also approved the scheme for the
promotion of Coal and Lignite Gasification Projects of Government PSUs and the Private Sector.
• Mr Joshi said, the total outlay of this scheme is eight thousand 500 crore rupees towards incentive
for coal gasification projects under three categories.
Air India fined INR 1.10 crore for safety violations on critical routes.
• The Directorate General of Civil Aviation (DGCA) has fined Air India a sum of Rs. 1.1 crore for
allegedly violating safety protocols on specific long-range and terrain-critical routes.
• The DGCA conducted a thorough investigation into the matter, which revealed that the airline had
failed to comply with the regulations.
• Consequently, the airline was issued a show-cause notice by DGCA officials.
Prime Minister Modi and French President Emmanuel Macron are scheduled to visit Jaipur
• Prime Minister Narendra Modi and French President Emmanuel Macron will be visiting Jaipur for a
one-day visit.
• Mr. Macron will tour some of the historic landma rks of the pink city Jaipur, including the Amber Fort,
Jantar Mantar, and Hawa Mahal, before attending the Republic Day parade on January 26th.
• The French President will arrive in Jaipur tomorrow afternoon and begin his day by visiting the
Amber Fort, where a cultural event is planned for him.
• Following this, Macron will meet with Prime Minister Narendra Modi at Jantar Mantar, a World
Heritage site.
• The two leaders will then take part in a joint roadshow from Jantar Mantar to Sanganeri Gate, with a
stopover at Hawa Mahal.
• They will also visit Albert Hall.
• Additionally, Prime Minister Narendra Modi will host a private dinner for Mr. Macron.
Cabinet approves the scheme for the promotion of Coal/Lignite Gasification Projects of Government
PSUs and Private Sector towards incentives for coal gasification projects under three categories
.
• The Cabinet chaired by the Prime Minister Shri Narendra Modi approved the scheme for
promotion of Coal/Lignite Gasification Projects of Government PSUs and Private Sector with an
outlay of Rs.8,500 crore towards incentive for coal gasification projects under three categories.
The cabinet has approved the scheme as follows:
a. Total outlay of Rs.8,500 crore will be provided as financial assistance for coal gasification
projects under three categories.
b. In category I, Rs.4,050 crore provisioned for Government PSUs in which upto 3 projects will be
supported by providing lump-sum grant of Rs.1,350 crore or 15% of capex, whichever is lower.
c. In category II, Rs.3,850 crore provisioned for private sector as well as Government PSUs in
which lump-sum grant of Rs.1,000 crore or 15% of capex, whichever is lower provided for each
project. At least one project will be bid out on tariff-based bidding process and its criteria will be
designed in consultation with NITI Aayog.
d. In category III, Rs.600 crore provisioned for demonstration Projects (indigenous technology)
and/or small-scale product-based Gasification Plants under which lump-sum grant of Rs.100
crore or 15% of capex, whichever is lower, will be given to the selected entity who will have a
minimum Capex of Rs. 100 Crore and minimum production of 1500 Nm3/hr Syn gas.
e. The selection of entities under category II and III shall be carried out through a competitive and
transparent bidding process.
f. The grant will be paid to the selected entity in two equal instalments.
g. EGoS chaired by Secretary Coal shall be fully empowered to make any changes required in the
modalities of the scheme subject to the condition that overall financial outlay remain within
Rs.8,500 crore.
Cabinet approves signing of a Memorandum of Understanding (MoU) between India and Oman on
cooperation in the field of Information Technology
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi was apprised of a Memorandum of
Understanding (MoU), signed between the Ministry of Electronics and Information Technology of the
Republic of India and the Ministry of Transport, Communications and Information Technology of the
Sultanate of Oman on cooperation in the field of Information Technology.
• The MoU intends to promote comprehensive cooperation between the Parties through mutual
support, sharing of technologies, information and investments in the field of Information Technology.
• The MoU shall come into effect from the date of signature of the Parties and shall be remain in force
for a period of 3 years.
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• Both G2G and B2B bilateral Cooperation in the field of Information Technology will be enhanced.
• MoU envisages improved collaboration leading to employment opportunities in the field of IT.
• MeitY has been mandated to promote international cooperation in emerging and frontier areas of
Information and Communications Technology (ICT) under bilateral and regional frameworks of
cooperation.
• MeitY is collaborating with a number of countries and multilateral agencies for fostering bilateral and
multilateral cooperation in the ICT domain.
Cabinet approves Protocol for establishment of joint Economic and Trade Committee between India and
Dominican Republic
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal for signing
of a protocol for establishment of a Joint Economic and Trade Committee (JETCO) between the
Department of Commerce, Ministry of Commerce and Industry of the Republic of India and the
Ministry of Foreign Affairs of the Dominican Republic.
• Bilateral relations between India and the Dominican Republic have been friendly and continue to
deepen in all spheres.
• At present, there is no bilateral institutional mechanism between India and Dominican Republic on
trade and commerce.
• India primarily imports gold from Dominican Republic and exports pharmaceuticals, marine products,
motor vehicles, two and three wheelers etc. to them.
• The establishment of JETCO will strengthen economic tie between India and the Dominican
Republic and shall play a pivotal role and provide a platform for discussions, exchange of
information, knowledge and ideas which would in turn facilitate trade and industry.
• The Protocol can be an effective gateway to the larger Latin American and Caribbean markets.
• The Joint Committee will provide a platform for exchange of information between various authorities
and their counterparts.
• This would help in facilitating trade of goods and services and consequentially help in better
employment opportunities for professionals in both countries.
• The establishment of JETCO will facilitate mitigating challenges in the export of Indian products of
mutual dialogue and pave the way for boosting exports of pharmaceuticals, automobiles and
engineering goods manufactured in India leading to more foreign exchange earnings for Atmanirbhar
Bharat.
Cabinet approves equity investment by (i) CIL for setting up of Coal-to-SNG Project at ECL command
.
area through a JV of CIL & GAIL; and (ii) for setting up of a Coal-to-Ammonium Nitrate Project at MCL
command area through a JV of CIL & BHEL
• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Shri Narendra Modi
approved proposal for equity investment by
➢ CIL for setting up of Coal-to-SNG (Synthetic Natural Gas) Project at ECL command area through
a JV of CIL & GAIL; and
➢ for setting up of Coal-to-Ammonium Nitrate Project at the MCL command area through a JV of
CIL & BHEL.
The CCEA has approved the proposal of equity investments by CIL as follows:
• Equity Capital of Rs.1,997.08 Crore (±25%) by CIL considering a Debt-Equity Ratio of 70:30, and
51% Equity Investment in JV Company with an estimated Project Capex of Rs.13,052.81 Crore
(accuracy of ±25%) for the proposed Coal-to-Synthetic Natural Gas (SNG) at Sonepur Bazari
Area of Eastern Coalfields Limited (ECL) in Burdwan district of West Bengal through JV of CIL
and GAIL.
• Equity Capital of Rs.1,802.56 Crore (± 25%) by CIL considering a Debt-Equity Ratio of 70:30,
and 51% Equity Investment in JV Company with an estimated Project Capex of Rs.11,782.05
Crore (accuracy of ±25%) for the proposed Coal-to-Ammonium Nitrate (AN) at Lakhanpur Area of
Mahanadi Coalfields Limited (MCL) in Jharsuguda district of Odisha through JV of CIL and
BHEL.
• Approval for Equity Investment by CIL beyond 30% of its Net-worth in the JV of CIL-GAIL as at
point (a) above, and in JV of CIL-BHEL as at point (b) above.
Synopsys' Chip Design Center at DLF Tech Park in Noida will be opened by Union Minister Rajeev
Chandrasekhar.
• Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, and Jal
Shakti, Shri Rajeev Chandrasekhar, is set to inaugurate Synopsys’ Chip Design Centre at DLF Tech
Park in Noida.
• During this event, the Minister will deliver a special address to an audience comprising senior
leadership, employees, partners, and customer delegates of Synopsys.
• Established in 1986, Synopsys widely commercialized logic synthesis, revolutionizing the creation of
digital designs from language descriptions.
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• This capability propelled the transition of Computer-Aided Design (CAD) into the Electronic Design
Automation (EDA) era, facilitating the scaling of digital complexity in line with Moore’s Law.
• Synopsys has consistently expanded its product portfolio and market position through substantial
investments in research and development, coupled with approximately 120 strategic acquisitions.
• Synopsys is a leading name in EDA, playing a pivotal role in advancing digital chips within the
technology ecosystem
• Synopsys offers a wide range of design portfolios, spanning from silicon to software, contributing to
$5.9 billion in revenue.
• As a market leader in EDA tools and Interface, Foundation, & Physical IPs, Synopsys holds a
significant position in the industry.
Bhopal hosted the 63rd meeting of the Central Geological Programming Board (CGPB).
• The 63rd Central Geological Programming Board (CGPB) meeting was held in Bhopal, Madhya
Pradesh.
• In the presence of other senior officials, Shri V.L. Kantha Rao, inaugurated an Exhibition on the
theme, “Mining and Beyond”, in which GSI, PSUs, DMFs, major mining companies, private
exploration agencies, startups, Madhya Pradesh Government showcased their achievements.
• The meeting was held under the Chairmanship of Shri V.L. Kantha Rao, Secretary, Ministry of
Mines. Shri Sanjay Lohiya, Additional Secretary, Ministry of Mines,Shri Janardan Prasad, Director
General, GSI, senior functionaries of different Ministries, State Directorates of Mining & Geology,
PSUs, representatives from private mining industry, Mining associations and other stakeholders
attended thecrucial meeting.
• The proposed Annual Programme for ensuing Field Season year 2024-25 was placed before the
Board for discussion.
• During the ensuing year 2024-25 GSI has formulated about 1055 scientific programs for the year
2024-25, which includes 392 Mineral Development projects (G2;G3;G4; and Offshore Explorations)
that has the potential to generate auctionable mineral blocks in near future.
• 133 projects with mineral bias or Mineral Discovery Projects (RMT; Research Project; C-MAP;GT;
MPA; Multispectral/Hyperspectral projects) having potential for generating promising areas for future
exploration in G4 stage.
• Within the exploration activity, the major thrust has been given on the exploration of strategic &
critical and fertilizer minerals.
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• A total of 188 projects on these strategically important mineral commodities like REE, RM, Graphite,
Lithium, Vanadium and PGE etc. have been approved for the year 2024-25,which is almost a jump
of 50% from previous year’s target.
About CGPB
• The Central Geological Programming Board (CGPB) is an important platform of the Geological
Survey of India (GSI), Ministry of Mines wherein the Annual Field Season Program (FSP) of GSI is
placed for discussion and to avoid duplication of work.
• The members of CGPB and other stakeholders like State Governments, Central/ State Government
Mineral Exploration Agencies, PSUs and Private Entrepreneurs place their requests for collaborative
work with GSI.
About the Geological Survey of India
• The Geological Survey of India (GSI) was set up in 1851 primarily to find coal deposits for the
Railways.
• Its main functions relate to creating and updating of national geoscientific information and mineral
resource assessment.
• GSI, headquartered in Kolkata, has six regional offices located in Lucknow, Jaipur, Nagpur,
Hyderabad, Shillong and Kolkata and state unit offices in almost all states of the country. GSI is an
attached office to the Ministry of Mines.
Call for Nominations announced under Rashtriya Vigyan Puraskar 2024 in the field of Science,
Technology, and Innovation
• The Government of India has announced the “Rastriya Vigyan Puraskar” in the field of Science,
Technology and Innovation.
• The National Award recognizes outstanding and inspiring scientific, technological and innovation
contributions of researchers, technologist and innovators.
• The awards shall be given in following four categories:
• Vigyan Ratna (VR): Maximum of three awards to be bestowed to recognize life time achievements &
contributions made in given field of Science and Technology.
• Vigyan Shri (VS): Maximum of 25 awards to be given to recognize the distinguished contributions in
given field of Science and Technology.
• Vigyan Yuva: Shanti Swarup Bhatnagar (VY-SSB) award: Maximum of 25 awards to be given to
recognize and encourage young scientists who made an exceptional contribution in given field of
Science and Technology.
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• Vigyan Team (VT) award: Maximum of three awards may be awarded to a team comprising of three
or more scientists/researchers/innovators who have made an exceptional contribution working in a
team in given field of Science and Technology.
• The Rashtriya Vigyan Puraskar shall be given in the following 13 domains, namely: Physics,
Chemistry, Biological Sciences, Mathematics & Computer Science, Earth Science, Medicine,
Engineering Sciences, Agricultural Science, Environmental Science, Technology & Innovation,
Atomic Energy, Space Science and Technology, and Others.
• The awards this year are being coordinated by Council of Scientific and Industrial Research (CSIR)
under the Ministry of Science and Technology.
• The awards shall be announced on 11th May 2024 (National Technology Day).
• The Award Ceremony for all categories of awards will be held on 23rd August 2024 (National Space
Day).
Centre may raise national minimum wage ahead of Lok Sabha elections, panel recommendations
awaited
• The central government could fix a higher mandatory minimum wage rate applicable across the
country ahead of the general elections, adopting recommendations of a high-level expert panel
looking into the matter.
• An expert committee headed by SP Mukherjee, set up in 2021 for a period of three years till June
2024, is expected to submit its report soon, and the new floor wage could be notified ahead of the
elections likely to be held during April-May.
• The floor wage, currently at ₹176 per day, was last revised in 2017 and is not statutory for states.
• A committee headed by Anoop Satpathy had proposed a floor wage of ₹375 per day in 2019 but the
same was not accepted by the government because of the financial implications for employers,
including the government as it was over 100% higher than the existing floor wage.
• There has to be a balance between the existing₹176 per day and ₹375 per day as recommended by
the Satpathy committee.
• As per the Code on Wages, 2019, the government can fix different floor wages for different
geographical areas but it does not allow lowering of wage in case the minimum rates of wages fixed
by the appropriate government (states or the Centre) is more than the existing floor wage.
Vice President to inaugurate 'Hamara Samvidhan, Hamara Samman' campaign in New Delhi.
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• Vice President Jagdeep Dhankhar will inaugurate a year-long pan India campaign Hamara
Samvidhan, Hamara Samman to commemorate the 75th Year of India as a Republic, in New Delhi.
• Ministry of Law and Justice: the campaign aims to reaffirm the collective commitment to the
principles enshrined in the Constitution of India and celebrate the shared values that bind the nation.
• This nationwide initiative envisages instilling a sense of pride and responsibility to uphold the ideals
outlined in the constitutional framework.
• It will also give opportunity to every citizen to participate in various ways and empower them to
contribute in a meaningful way in the democratic journey.
• During the Event, Nyaya Setu will be launched which is a significant and transformative step that
aims to extend and expand the reach of legal services till the last mile.
• It will provide a unified legal interface for legal information, legal advice and legal assistance and
thus enable a more inclusive and just society.
Prime Minister inaugurates Boeing India’s aerospace engineering centre in Bengaluru
• The Prime Minister, Shri Narendra Modi inaugurated the new state-of-the-art Boeing India
Engineering & Technology Center (BIETC) campus in Bengaluru, Karnataka.
• Built with an investment of Rs 1,600 crores, the 43-acre campus is Boeing’s largest such investment
outside the USA.
• The Prime Minister also launched the Boeing Sukanya Program which aims to support the entry of
more girl children from across India into the country’s growing aviation sector.
• BIETC aims to be a cornerstone for collaboration within India's startup, private, and government
ecosystem.
• This state-of-the-art facility, representing Boeing's largest investment outside the USA, seeks to
develop next-generation products and services for the global aerospace and defense industry.
• Boeing Sukanya Program is a significant initiative to empower girls and women across India by
fostering their entry into the aviation sector.
• The program, initiated by Boeing, is designed to provide learning opportunities and support for
female aspirants, particularly those from rural areas, in the fields of science, technology,
engineering, and mathematics (STEM).
• It aims to equip girls and women with critical skills in STEM fields, fostering their readiness for
careers in aviation.
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• The program's key components include the establishment of STEM Labs at 150 locations,
scholarships for women pursuing pilot training, and investments in flight training curriculum,
certifications, simulator training, and career development programs.
• India's aviation sector has become the world's third-largest domestic market. India has about 150
operational airports, up from about 70 in 2014.
India Launches 'Alliance for Global Good- Gender Equity and Equality' at Davos World Economic Forum
2024
• India recently participated in the World Economic Forum’s annual meeting at Davos, Switzerland,
which launched the “Global Good Alliance for Gender Equity and Equality”.
• The Alliance was launched with the support and endorsement by World Economic Forum (WEF) and
the Government of India.
• It aims to bring together global best practices, foster knowledge sharing, and attract investments in
key areas such as women’s health, education, and enterprise.
• The initiative builds on the commitments of the G20 Leaders’ Declaration and India’s dedication to
women-led development.
• India participated in the spirit of “Vasudhaiva Kutumbakam”, to shape a common future marked by
global cooperation, aligning with WEF theme for the year, 'Rebuilding Trust'.
• The Alliance serves as a follow-up to the activities of the Engagement Group and initiatives under
the G20 framework- Business 20, Women 20, and G20 EMPOWER.
• It will be housed and anchored by the Confederation of Indian Industry (CII) Centre for Women
Leadership.
• The WEF stands as a ‘Network Partner’ and Invest India as an ‘Institutional Partner’. It is Supported
by the Bill and Melinda Gates Foundation.
• This year’s unique initiative at WEF, led by Union Minister of Women & Child Development was a
first ever women leadership lounge (We Lead lounge) by CII and BMGF.
• ‘We Lead Lounge’ hosted discussions on Women-led Development and ways to increase their
participation in economy, bridge digital gender gap, engender women’s health, etc.
• The lounge also showcased handicrafts by women entrepreneurs and products from Tea Board and
Coffee Board of India.
About WEF
• World Economic Forum (WEF) is an international organization headquartered in Geneva,
Switzerland.
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• Founder: Klaus Schwab

• Headquarters: Cologny, Switzerland
• Founded: 24 January 1971
India has been elected as the First Vice Chair of the COFI Sub-Committee on Fisheries Management.
• India has been elected as the First Vice Chair of the FAO COFI (Food and Agriculture Organisation
Committee on Fisheries) Sub-Committee on Fisheries Management.
• Dr. J. Balaji was elected as the first vice chairperson of the incoming bureau of the sub-committee
which serves as a forum for consultation and discussion on fisheries management.
• India will serve as member of a FAO Fisheries Bureau on 'Capture Fisheries' for the first time in 57
years.
• India is one of the top fishing nations with over 28 million inland and marine fishers.
• The Sub-Committee on Fisheries Management was established during the Thirty-Fifth session of the
FAO Committee on Fisheries (COFI) held in Rome, Italy, in 2022.
• The Sub-Committee on Fisheries Management is a forum for discussing fisheries management
issues at national, regional and global levels.
About FAO
• A FAO (Food and Agriculture Organization) Council subsidiary, it serves as the only global inter-
governmental forum for examining major issues in international fisheries and aquaculture.
• Food and Agriculture Organization (FAO) Formation: 16th October, 1945, Headquarter: Rome (Italy).
Centre approves Rs 235 cr outlay for administrative reforms public grievance redressal
• The Government has approved an outlay of Rs 235 cr for revamped Scheme for Administrative
Reforms of DARPG to be implemented in next two years (2024-25 and 2025-26 ) of the 15th
Finance Commission Cycle.
• The scheme will take up ambitious next generation administrative reforms in matching with the new
aspirations of Viksit Bharat.
• The revamped Scheme for Administrative Reforms has 2 verticals (a) Comprehensive System for
Redressal of Public Grievances and (b) Administrative Reforms.
• The Scheme for Comprehensive System for Redressal of Public Grievances has an allocation of Rs.
128 crores seeks to take forward the 10-Step CPGRAMS reforms aimed at improving quality of
grievance redressal and reducing timelines by developing an AI enabled comprehensive system for
redressal of Public Grievances.
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• The Scheme for Administrative Reforms with an allocation of Rs. 107 crores seeks to utilize the
resources for the following schemes:
• Scheme for Prime Minister’s Awards for Excellence in Public Administration for 2024-25 and 2025-
26
• National e-Governance Awards Scheme for 2024-25 and 2025-26, regional conferences for
replication of good governance practices in states, Union Territories and e-governance practices,
among others.
Government defers ₹5,000 crore spending on strategic petroleum reserves in FY24
• The Finance Ministry has postponed plan of spending ₹5,000 crore in FY24 to refill the strategic
petroleum reserves, citing emerging trends in oil markets.
• Finance Ministry, ₹15,000 crore will be given to Indian Oil Corporation, Bharat Petroleum
Corporation and Hindustan Petroleum Corporation in FY24.
• This is part of the plan to provide ₹30,000 crore as capital support the PSU oil marketing companies
for green energy and net zero initiatives.
• The decision was taken in November 2023 during the Expenditure Finance Commission (EFC)
meeting.
• In the budget proposals for FY24, the government proposed expenditure of ₹5,000 crore for Indian
Strategic Petroleum Reserves (ISPR).
• Indian Strategic Petroleum Reserves Limited (ISPRL) has set up crude oil storage facilities with a
capacity of 5.33 million tonnes (MT) under Phase I of the SPR programme.
• This facilities are located at Vishakhapatnam (1.33 MT), Mangaluru (1.5 MT) and Padur (2.5 MT).
• This is equivalent to around 38 million barrels. This can serve India’s crude requirement for 9.5 days.
• Under Phase II, In July 2021, the government approved the establishment of two further commercial-
cum-strategic reserves under the public-private partnership (PPP) model.
• These reserves are approved at Chandikhol (4 MT) and Padur (2.5 MT), with a combined storage
capacity of 6.5 MT.
• When finished, these reserves will provide India's crude needs for an extra 12 days.
New amendments in wildlife trade rules enable issuing licences for certain Schedule II species
• The Union Environment Ministry issued a notification titled: Wild Life (Protection) Licencing
(Additional Matters for Consideration) Rules, 2024.
• It has granted licenses to trade in certain species, which were previously restricted.
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• The government issued new guidelines for granting licences to stakeholders involved in snake
venom, captive animals, trophy animals and stuffed animals.
• The new amendments in wildlife trade rules have been done for the first time after 1983.
• As per the 1983 wildlife trade rules, issuing licences to trade in a wild animal categorised under
Schedule I or Part II of Schedule II under the Wildlife Protection Act 1972 was prohibited.
• As per the new rules, no licence will be granted for any wild animals specified in Schedule I of the
Act.
• The new notification doesn’t mention why the licensing restriction for schedule II species has been
removed.
• The authorized officers have to consider the capacity of the applicant to handle the business in
terms of facilities, equipment and feasibility of premises for the business.
• Earlier, the government amended the Wildlife Protection Act and merged four schedules of wild
animals into two.
• The total number of schedules has decreased to four from six.
Pradhan Mantri Rashtriya Bal Puraskar 2024 announced
• 19 children have been selected for Pradhan Mantri Rashtriya Bal Puraskar 2024.
• Pradhan Mantri Rashtriya Bal Puraskar (PMRBP) are given to children in the age group of 5 – 18
years in seven categories.
• PMRBP is given in Bravery, Art & Culture, Environment, Innovation, Science & Technology, Social
Service and Sports categories.
• Each awardee will be presented a medal, certificate and a citation booklet.
• The awards will be presented by the President of India at Vigyan Bhawan on 22nd January 2024.
• The children will also participate in the Republic Day parade on 26th January 2024.
• One child in the categories of Bravery, Science & Technology, and Innovation has been selected for
the PMRBP.
• Four children have been selected for the Social Service category while five children in the category
of Sports and seven children have been selected in the category of Art and Culture.
• Out of the total 19 children, 9 are boys and 10 are girls and they belong to 18 States and UTs.
ICAI collaborates with IIM Ahmedabad to develop ‘Vision 2049’
• CA Institute, which is the world’s largest accounting body, has initiated an exercise to develop a
‘Vision 2049’ document to position itself as a globally recognised leader in the accounting
profession.
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• This vision document will be prepared in collaboration with IIM Ahmedabad.

• All members of the Institute of Chartered Accountants of India (ICAI), students, and stakeholders
can provide their inputs and suggestions for this exercise by February 9.
• ICAI will celebrate its 100th year of existence in the year 2049.
• ICAI Vision 2049 aims to empower chartered accountants as catalysts for economic progress,
fostering a dynamic environment that seamlessly integrates with India’s overarching objectives.
Diamond Jubilee celebration of Supreme Court of India inaugurated by Prime Minister in New Delhi
• Prime Minister Modi has inaugurated the Diamond Jubilee celebration of the Supreme Court of
India in New Delhi.
• Mr. Modi will launch citizen-centric multiple technology initiatives, which include Digital Supreme
Court Reports, Digital Courts 2.0 and a new website of the Supreme Court.
• The Digital Supreme Court Reports (SCR) will make Supreme Court judgments available to the
citizens of the country free of cost and in electronic format.
• The key features of digital SCR are that all 519 volumes of the Supreme Court reports since
1950, covering over 36 thousand cases will be available in a digital format and with open access.
• Digital Courts 2.0 application is a recent initiative under the e-Courts project to make court
records available to the Judges of the district courts in electronic form.
• Prime Minister will also launch the new website of the Supreme Court.
The new website will be in bilingual format in English and Hindi and has been redesigned with a user-
friendly interface, the statement stated.
INTERNATIONAL NEWS
India and Russia Sign Protocol for Consultations Over the Next 4 Years (2024-2028)
• A Protocol on Consultations signed by India and Russia for the period of the next four years (2024-
28).
• The protocol aims to enhance progress in various domains, including economic cooperation,
energy trade, connectivity, military-technical cooperation, and people-to-people exchanges.
• The protocol was signed during the official visit of India's External Affairs Minister, Dr. S.
Jaishankar, to Russia.
• In addition to the protocol, India and Russia signed two important agreements to advance the
implementation of the Kudankulam nuclear power projects in India.
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About Russia :
• President : Vladimir Putin
• Prime Minister : Mikhail Mishustin
• Capital : Moscow
• Currency : Ruble
Russia and NASA Extend Joint ISS Flights Until 2025
● Russian and United States (US) space agencies have agreed to keep working together to deliver
crews to the International Space Station (ISS) until at least 2025.
● Aim : "To guarantee the presence of at least one representative of Roscosmos on the Russian
segment and the presence of at least one representative of NASA on the American segment."
● The station was designed between 1984 and 1993.
● ISS partners the United States, Russia, Europe, Canada and Japan – are for the moment only
committed to operate the orbiting laboratory until 2024, though US officials have stated they want
to continue until 2030.
About Russia :
● President : Vladimir Putin
About NASA :
South Korea launches 'workation' visa for foreigners

• South Korea introduced a new visa for foreigners allowing them to visit the country on a working
holiday or workation.
• The "workation" or "digital nomad" visa allows foreign nationals to visit South Korea on a working
holiday.
• Foreign nationals with an annual income twice as much as South Korea's per capita gross national
income will be eligible to apply for the visa.
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• It will be given to those having a work experience of over a year in one industry and are eligible for
remote work.
About South Korea :
• President : Yoon Suk Yeol
• Prime Minister : Han Duck-soo
• Capital : Seoul
• Currency : Korean Republic won
Kyrgyzstan Declared 'Snow Leopard' As National Symbol

• Kyrgyzstan has officially declared the snow leopard as its national symbol.
• The Kyrgyz Republic states that “snow leopard is not only a symbol of natural wealth and cultural
prosperity but also an indicator of the stability and health of the mountain ecosystem”.
• The Cabinet of the Kyrgyzstan government will develop a logo, explore symbol usage at different
levels, and define its ideological content.
About Snow Leopard:
• The snow leopard is also known as Panthera.
• It represents greatness, nobility, courage, bravery, and resilience.
• Cloaked in a dense white-grey fur spotted with prominent black rosettes, snow leopards are
inhabitants of high mountainous terrain.
• Often referred to as the 'ghosts of the mountains,' these elusive creatures effortlessly blend into
their surroundings, becoming nearly indistinguishable in their natural habitat.
• Known for their climbing prowess, snow leopards navigate steep slopes with ease due to their
powerful build.
• Their hind legs grant them the ability to leap six times the length of their bodies, while a long tail
provides agility, balance, and acts as protection against the cold, wrapping around the resting
snow leopard.
• About Kyrgyzstan :
• President : Sadyr Japarov
• Capital : Bishkek
• Currency : Kyrgyzstani som
North Korea poised to admit first known tourists since 2020
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• A group from Russia is poised to be the first known tourists allowed into North Korea since anti-
pandemic border lockdowns began in early 2020, according to a post from Russian provincial
authorities and a Western tour guide.
• Tourism is largely unaffected by UN Security Council resolutions that restrict business with North
Korea over its nuclear weapons and ballistic missile programs.
South Korea passes law banning dog meat trade
• The slaughter and sale of dogs for their meat is to become illegal in South Korea after MPs backed
a new law.
• The legislation, set to come into force by 2027, aims to end the centuries-old practice of humans
eating dog meat.
• Dog meat stew, called "boshintang", is considered a delicacy among some older South Koreans,
but the meat has fallen out of favour with diners and is no longer popular with young people.
• Under the new law the consumption of dog meat itself will not be illegal.
India-UAE Business Summit held as part of Vibrant Gujarat Global Summit 2024
• The India-UAE Business Summit was held on 10th January 2024 to strengthen bilateral ties
between India and the United Arab Emirates (UAE) as part of the Vibrant Gujarat Global Summit
2024.
• UAE’s President His Highness (H.H.) Sheikh Mohamed bin Zayed Al Nahyan is the chief guest at
the Vibrant Gujarat Global Summit 2024, further emphasising the growing cooperation and
strengthening relations between the two nations.
• Shri Piyush Goyal, H.E. Dr. Thani bin Ahmed Al Zeyoudi, and Shri Bhupendra Rajnikant Patel
ceremonially launched the UAE – India CEPA Council (UICC) website as part of the inaugural
session.
US-UK launch massive airstrikes against Houthi rebels in Yemen after Red Sea shipping attacks
• The United States and the United Kingdom joined forces to launch a retaliatory attack against
Iran-based rebel group Houthis in Yemen shortly after the group claimed responsibility for a
string of attacks against cargo ships and vessels travelling through the Red Sea.
• The airstrikes by US and UK, aimed at destroying Houthi bases in Yemen, has further escalated
the conflicts in the area in the midst of the Israel-Hamas war.
.
• A US official, who asked not to be identified before a formal announcement, confirmed the
strikes. Heavy explosions were reported in the Yemeni capital of Sana’a and the port city of Al
Hudaydah.
Ukraine and Britain sign security agreement in Kyiv

● British Prime Minister Rishi Sunak has signed a new security agreement with Ukraine’s
president and announced an increase in military funding for the war-wracked country during a
visit to Kyiv.
● Britain, one of Ukraine’s closest allies during the Russian invasion, will increase its support in
the next financial year to 2.5 billion pounds ($3.2bn), an increase of 200 million
pounds ($255m) on the previous two years, Sunak stated.
● The funding would cover long-range missiles, air defence, artillery ammunition and maritime
security.
● Ukrainian President Volodymyr Zelenskyy stated Ukraine and Britain also signed
an “unprecedented security agreement”, an accord that would remain in effect until Ukraine
joins the NATO military alliance.
● “This is not simply a declaration. This is a reality that will come to fruition as a result of our
cooperation, including security commitments from a major global power, the United Kingdom.
● If the UK and other countries had provided such a level of guarantees after 1991, there would
have been no Russian aggression at all,” Zelenskyy wrote on the social media platform X.
● He added that the common goal was to ensure that an attack on Ukraine “will never happen
again” once the war ends.
We Lead to Credible India: Indian lounges dominate World Economic Forum in Davos
● The World Economic Forum (WEF) is holding its Annual Meeting from January 15 to 19
in Davos, Switzerland.
● Attendees include António Guterres, UN Secretary-General, Ajay Banga, President of the
World Bank Group, Tedros Adhanom Ghebreyesus, Director-General of the World Health
Organisation, and political leaders from India, the US, China, France and Sri Lanka, among
others.
World Economic Forum:
● German professor Klaus Schwab founded the WEF. He was a mechanical engineering
graduate who then earned a Master of Public Administration degree from the John F.
.
Kennedy School of Government at Harvard University.

● From 1972 to 2003, Schwab was a professor of business policy at the University of Geneva.
● He founded WEF in 1971, originally known as the European Management Forum. It
introduced the concept of “stakeholder capitalism.” According to Schwab, “It is a form of
capitalism in which companies do not only optimize short-term profits for shareholders, but
seek long-term value creation, by taking into account the needs of all their stakeholders, and
society at large.”
● The WEF website says of the idea: “A company should serve all its stakeholders, not just its
shareholders: employees, suppliers, and the community it is part of.” As an extension of this,
business, government and civil society leaders have made their way to the high Alps “to
consider the major global issues of the day and to brainstorm on solutions to address these
challenges,” it adds.
Rajasthan CM Sharma holds meeting with Czech PM Petr Fiala in Jaipur
● Nims University Rajasthan proudly marked a historic occasion as it welcomed the Prime
Minister of the Czech Republic, E Prof. Petr Fiala to the University.
● The focal points of this distinguished visit were the foundation stone laying ceremony for
the ‘Petr Fiala Global Institute of Research Innovation’and the inauguration of the ‘Marik
Institute of Artificial Intelligence, Robotics, and Cybernetics’ within the university campus.
● The event witnessed the presence of distinguished guests, including Eliška Zygova, the
Ambassador of the Czech Republic in India, Tomas Pojar – National Security Advisor of the
Czech Republic, and other notable figures from both nations, emphasizing the diplomatic and
collaborative importance of the occasion.
Scientific ties between Nims and Czech Technical University
● With the inauguration of the Marik Institute of Artificial Intelligence, Robotics and Cybernetics
at University campus, Nims University and the Czech Technical University (CTU)
in Prague have launched the “Indo-Pacific-European Hub for Digital Partnership: Sustainable
Wellbeing (INPACE)”.
● A Memorandum of Understanding (MoU) has been signed to cooperate on the “Trusted Digital
Technologies”
● The project is part of the European Union’s HORIZON-CL4-2023-HUMAN-01 programme.
About Rajasthan:
● Governor: Kalraj Mishra
.
● Chief minister: Bhajan Lal Sharma

● Capital: Jaipur
● National Park : Ranthambore National Park, Keoladeo National Park, Mukundara National
Park
● WildLife Sanctuary: Bandh Baratha WL Sanctuary, Bassi WL Sanctuary, Darrah Game
Sanctuary, Desert WL Sanctuary, Jawahar Sagar WL Sanctuary.
About Czech Republic:
● President: Petr Pavel
● Prime Minister: Petr Fiala
● Capital: Prague
● Currency: Koruna or Crown
China’s population drops for second year, with record low birth rate
● China’s population fell for a second consecutive year in 2023, as a record low birth rate and a
wave of COVID-19 deaths when strict lockdowns ended accelerated a downturn that will have
profound long-term effects on the economy’s growth potential.
● The National Bureau of Statistics stated the total number of people in China dropped by 2.08
million, or 0.15%, to 1.409 billion in 2023.
● That was well above the population decline of 850,000 in 2022, which had been the first
since 1961 during the Great Famine of the Mao Zedong era.
● China experienced a dramatic nationwide COVID surge early last year after three years of
tight screening and quarantine measures kept the virus largely contained until authorities
abruptly lifted curbs in December 2022.
● Total deaths last year rose 6.6% to 11.1 million, with the death rate reaching the highest level
since 1974 during the Cultural Revolution.
● New births fell 5.7% to 9.02 million and the birth rate was a record low 6.39 births per 1,000
people, down from a rate of 6.77 births in 2022.
● Births in the country have been plummeting for decades as a result of the one-child policy
implemented from 1980 to 2015 and its rapid urbanisation during that period.
● As with earlier economic booms in Japan and South Korea, large populations moved from
China’s rural farms into cities, where having children is more expensive.
● Japan’s birth rate was 6.3 per 1,000 people in 2022, while South Korea’s rate was 4.9.
About China:
.
● Prime Minister: Li Qiang
● Currency: Yuan
Greenland has lost more ice than previously thought
● Climate change has caused Greenland’s ice sheet to lose 20% more ice than previously
thought, according to research published that used satellite imagery to track the retreat of
glaciers over the past four decades.
● Previous studies have found that about 5,000 gigatons of ice has been lost from the surface of
the Greenland ice sheet in the past two decades, a major contributor to rising sea levels.
● In the new study, researchers in the United States compiled nearly 2,40,000 satellite images
of glacier terminus positions — where glaciers meet the ocean — from 1985 to 2022.
Susceptible to change
● Researchers found that the Greenland glaciers most susceptible to seasonal changes — that
is expanding in winter and retreating in summer — are also the ones most sensitive to the
impact of global warming and experienced the most significant retreat since
● The melting of Greenland’s vast ice sheet — the world’s second-largest after Antarctica — is
estimated to have contributed more than 20% to observed sea level rise since 2002.
About Greenland:
● Prime Minister: Múte Bourup Egede
● Capital: Nuuk
● Currency: Danish Krone
Japan inks deal to buy 400 long-range missiles from U.S.
● Japan signed a deal with its ally the United States to buy 400 long-range Tomahawk
missiles as it ramps up its military capacity to counter regional security threats.
● Faced with growing Chinese military clout and a nuclear-armed North Korea, the Japanese
government plans to double its defense spending to the NATO standard of 2% of GDP by
2027.
● A sale of up to $2.35 billion (¥348 billion) for two types of Tomahawks, which have a 1,600-
kilometer (995-mile) range, was approved by Washington in November 2023.
● Japan has approved a record defense budget worth $56 billion for the next fiscal year from
April.
.
● Japan has a pacifist post-war constitution, which limits its military to ostensibly defensive
measures.
● But when it updated key security and defense policies last year, Tokyo explicitly outlined the
challenge posed by China.
● At a news conference earlier in the day, U.S. ambassador Rahm Emanuel lauded Japan’s
new defense push.
● Last month Tokyo loosened arms export controls to enable it to sell Patriot missiles made
in Japan under license to the United States, which is seeking to replenish its stocks after
sending the weapon systems to
About Japan:
● Capital: Tokyo
● Currency: Yen
● Prime Minister: Fumio Kishida
About USA:
● Capital: Washington, DC
● Currency: Dollar
● President: Joe Biden
North Korea conducts ‘underwater nuclear weapons system’ test
● North Korea informed it has carried out a test of its “underwater nuclear weapons system” in
response to drills by the US, South Korea and Japan this week.
● The underwater drone, which supposedly can carry a nuclear weapon, was tested off the east
coast, state media stated.
● South Korea called the reported tests a “provocation”.
● The North has claimed tests of its “Haeil-5-23” system before, but the latest incident comes as
the North has ramped up military action in recent weeks.
● It claimed to have deployed a new solid-fuelled intermediate-range ballistic missile.
● That followed live-fire drills at the maritime borderwith South Korea in the first week of
January.
About North Korea:
● Capital: Pyongyang
● Currency: North Korean Won
● Leader: Kim Jong Un
.
Qatar, US sign deal to supply LNG to Bangladesh

• QatarEnergy and US-based Excelerate Energy signed an agreement on Monday to supply 1
million metric tonnes per year (mtpa) of liquefied natural gas (LNG) to Bangladesh for 15 years
from January 2026.
• The deal is the latest in a series state-owned QatarEnergy has with European and Asian partners
tied to its massive North Field expansion project, which is expected to lift Qatar's LNG production
to 126 mtpa by 2027 from 77 mtpa now.
• Qatar, among the world's top LNG exporters, is already the largest supplier of LNG to
Bangladesh.
Ukraine to start building 4 new nuclear reactors this year
• Ukraine's energy ministry stated that it will begin building four new nuclear reactors this year to
compensate for Russia's seizure of the country's largest nuclear plant.
• Energy Minister German Galushchenko stated in televised comments that all four new reactors
would be at the Khmelnytskyi nuclear power plant in western Ukraine, eventually making it the
largest in Europe.
• Ukraine's southern Zaporizhzhia nuclear power station, currently Europe's largest, has been
under Russian control since March 2022 and its six reactors have been shut down.
• Fierce fighting in the area and power cuts have raised international concerns since the plant still
needs electricity and water to cool its systems.
• The Khmelnytskyi plant will receive two reactors built to a US design, the minister stated.
• The plant, which dates back to the 1980s, currently has two reactors. Two others have long been
planned but their construction delayed.
• The Khmelnytskyi plant's construction began in 1981 and it went into operation the year after the
1986 Chernobyl disaster.
• The original plan was to build four reactors but construction of reactors three and four was halted
due to a moratorium on new nuclear projects.
• Later, Ukraine sealed a deal with Russia to build the reactors which was cancelled in 2015.
Pakistan, Iran agree to expand security cooperation after missile strikes
.
• Pakistan and Iran agreed to work together to improve security cooperation in the wake
of deadly airstrikes by Tehran and Islamabad earlier this month that killed at least 11 people,
marking a significant escalation in fraught relations between the neighbors.
• The development came after the top Iranian diplomat, Hossein Amirabdollahian, held talks in
Islamabad with his Pakistani counterpart, Jalil Abbas Jilani.
• The Iranian foreign minister also met with Pakistans caretaker Prime Minister Anwaarul-Haq-
Kakar.
• Iran-Pakistan ties were dramatically imperilled on Jan. 17, when Iran launched airstrikes in
Pakistans restive southwestern Baluchistan province, targeting what Tehran stated were
hideouts of the anti-Iran Sunni militant group Jaish al-Adl, or the Army of Justice.
AP Moller-Maersk Reveals World’s Largest Methanol-Powered Container Ship
• AP Moller-Maersk has revealed the Ane Maersk, the world’s largest Ship that can run on the
green hydrogen derivative.
• It was named after Ane Maersk Mc-Kinney Uggla, Chairman of the Parent Company AP Moller
Holding.
• It can carry 8 times more containers than Danish Logistics Company’s Laura Maersk, which
became the world’s first methanol dual-fuel container ship when it was launched in September
2023.
• The Ane Maersk will begin its first voyage on 9th Feb from Hyundai Heavy Industries Shipyard in
Ulsan, South Korea, where it was constructed, to Ningbo, China.
• It will then head to Malaysia, followed by Sri Lanka, Saudi Arabia, Abu Dhabi, Morocco, the UK,
France, Belgium and Germany.
• Maersk has placed an order for 24 container ships with dual-fuel engines.
• Among these, 11 would be the same size as Ane Maersk, 6 would be bigger with a
17,000 TEU capacity, and 6 would be 9000 TEU.
Saudi Arabia to Inaugurate Riyadh's First Alcohol Store Exclusively for Non-Muslim Diplomats
.
● Saudi Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve
exclusively non-Muslim diplomats.
● Customers will have to register via a mobile app, get a clearance code from the foreign ministry,
and respect monthly quotas with their purchases.
● The move is a milestone in the kingdom's efforts, led by Saudi Crown Prince Mohammed bin
Salman, to open the ultra-conservative Muslim country for tourism and business as drinking
alcohol is forbidden in Islam.
● It is also part of wider plans known as Vision 2030 to build a post-oil economy.
● The new store is located in Riyadh's Diplomatic Quarter, a neighbourhood where embassies and
diplomats reside, and will be "strictly restricted" to non-Muslims.
● In 2016, Saudi Arabia launched its Vision 2030 under which it pledges to make the Kingdom - "a
vibrant society, a thriving economy, and an ambitious nation".
● This alcohol store is also part of the Vision 2030 to build a post-oil economy.
● In December 2017, Saudi Arabia lifted a 35-year ban on commercial theaters.
● In 2017, the Kingdom also ended a ban on women drivers, allowed women to attend sporting
events, and expanded their participation in the workforce.
About Saudi Arabia :
● Capital : Riyadh
● Currency : Saudi riyal
Royal Caribbean's Icon of the Seas to Claim Title of World's Largest Cruise Ship in January 2024
● Royal Caribbean’s Icon of the Seas embarks on its first official voyage on Jan. 27, 2024.
● The world’s largest cruise ship, the Icon is over 1,000 feet long (360 meters) and weighs in
around 250,000 gross registered tons.
● The vessel features an impressive 20 decks, offering a plethora of amenities including 40
restaurants, bars, and lounges, seven pools, six waterslides, and a striking 55-foot waterfall.
● Royal Caribbean anticipates that the Icon of the Seas will mark the dawn of "a new era of
vacations," likely referring to the innovative and extensive offerings available onboard.
● The ship will depart from Port Miami next week for its first seven-night sailing and head for a
number of destinations throughout the Eastern and Western Caribbean.
.
Switzerland and India reach deal on FTA after 16 years of negotiations
• After 16 years of negotiations, Switzerland and India have finally reached a consensus on a free-
trade agreement, as confirmed by Swiss Economy Minister Guy Parmelin, reported.
• According to the agency, Parmelin travelled to India directly from the World Economic Forum in
Davos to meet with Minister Piyush Goyal.
• Parmelin is heading the delegation of the European Free Trade Association (EFTA). Last May,
the economics minister met Goyal.
• The meeting was described as a positive step towards advancing negotiations on a free trade
agreement.
• The EFTA states and India have been discussing this deal since 2008.
• The State Secretariat for Economic Affairs (SECO) announced that EFTA had updated its free
trade agreement with Chile.
• In future, almost all Swiss exports to Chile will be exempt from customs duties.
• Parmelin announced on the fringes of the WEF in Davos that the free trade agreement between
EFTA and Mercosur, which has been planned for years, could be concluded in 2024.
• The Mercosur states of Brazil, Argentina, Uruguay and Paraguay are informer to be ready.
Cabo Verde Declared A Malaria-Free Country

⚫ The World Health Organization (WHO) has certified Cabo Verde as a malaria-free country,
marking a significant achievement in the global fight against the disease
• Cabo Verde joins the 43 other countries and 1 territory that have received this certification,
becoming the third country in the WHO African region to achieve this status, following Mauritius
and Algeria.
• \Malaria remains an urgent health concern, especially in Africa, where approximately 95% of
global malaria cases and 96% of related deaths occurred in 2021.
• Cabo Verde’s success in eliminating malaria is a triumph for the nation and brings hope for the
African region.
• The World Health Organization reported that Cabo Verde’s prime minister, Ulisses Correia Silva,
expressed his pride in the nation’s achievement, emphasising the positive impact on external
perception, particularly regarding tourism and overall image.
.
• The certification is expected to attract more visitors to the archipelago, where tourism accounts
for about 25% of the GDP.
• The journey to malaria elimination in Cabo Verde has been difficult.
• The archipelago, consisting of 10 islands in the Central Atlantic Ocean, faced significant malaria
challenges before targeted interventions began in the 1950s.
Iran successfully launches Sorayya satellite into orbit
• The Islamic Revolution Guard Corps (IRGC) successfully launched its Sorayya satellite into a
750-kilometer orbit.
• The launch marks a significant milestone for Iran's aerospace capabilities and further
demonstrates its growing ambitions in space technology.
• The three-stage solid-fuel Qaem 100 satellite carrier, developed by the IRGC Aerospace Force,
carried the Sorayya satellite into space.
• The satellite's successful placement in orbit has set a new record for Iran, as it represents the
first time the country has launched a satellite into this altitude.
• The launch was witnessed by Major General Hossein Salami, the commander of the IRGC,
Hassan Salarieh, the head of the Iranian Space Agency, Amir Ali Hajizadeh, commander of the
IRGC Aerospace Force, and a group of military figures.
• Sorayya is a research satellite with a mass of approximately 50 kilograms.
• It is equipped with a variety of scientific instruments that will be used to collect data on various
aspects of space, including weather patterns, Earth's resources, and the environment.
• The sub-orbital launch of the Qaem 100 satellite carrier was successfully conducted in October
2022.
• This successful orbital launch marks a significant step forward in Iran's space program and
further strengthens its position as a regional space power.
• The Qaem 100, with its three stages of solid fuel, is capable of placing satellites weighing up to
80 kilograms in an orbit of 750 kilometers from Earth's surface.
• This capability will enable Iran to launch larger and more sophisticated satellites in the future.
• The successful launch of the Sorayya satellite is a testament to Iran's ongoing commitment to
developing its space program and expanding its technological capabilities.
.
STATE NEWS
Telangana Chief Minister Revanth Reddy Launches "Abhaya Hastam" for Congress' Six Guarantees
Implementation in 100 Days
• Telangana chief minister A Revanth Reddy kickstarted “Abhaya Hastam”, a programme to
implement the six guarantees as promised by the Congress before the elections, and the
government was committed to implementing all the promises within 100 days.
• Under this, a special campaign 'Praja Palana' (People’s governance) was launched across the
state on 28 December, 2023.
• The program, aimed at receiving applications from eligible beneficiaries of various schemes
promised under Abhay Hastam, will end on January 6, 2024.
• The state government has also launched the format of the “Praja Palana” applications, the program
logo, and other materials.
About Telangana :
• Governor : Tamilisai Soundararajan
• Chief Minister : Anumula Revanth Reddy
• Capital : Hyderabad
• National Park : Mahavir Harina Vanasthali National Park, Nehru Zoological Park
• Wildlife Sanctuary : Pakhal Lake And Wildlife Sanctuary, Eturnagaram Sanctuary, Pocharam Dam
And Wildlife Sanctuary, Kinnerasani Wildlife Sanctuary
Kerala Introduces K-Smart Tech Solution for Streamlining Local Self-Government Services
● Aimed at making available all services of local self-government institutions over a uniform digital
platform, Kerala has introduced K-Smart (Kerala Solutions for Managing Administrative
Reformation and Transformation), the first of its kind project in the country.
● It is for the first time that a system that makes available the entire gamut of services of a
department in a single click is being introduced in the country.
● Initially, K-Smart will be operational in corporations and municipalities and later will be rolled out
in grama panchayats as well.
● It is embedded with an Integrated Messaging System that facilitates delivery of the
acknowledgment receipt of complaints and applications in the portal that can be accessed
through login of the applicant or complainant as also via Whatsapp and email.
About Kerala:
.
● Capital: Thiruvananthapuram
● Chief Minister: Pinarayi Vijayan
● Governor: Arif Mohammad Khan
● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park
Jharkhand govt reduces qualifying age for old-age pension to 50
• Jharkhand Chief Minister Shri Hemant Soren announced that the qualifying age for old-age
pension for tribals and Dalits has been reduced from 60 years to 50 years.
• The government has taken this decision because the death rate among tribals is high and they
do not get jobs after 60 years.
• Meanwhile, in September,2023 the Jharkhand government decided to add the transgender
community under its universal pension scheme in a move to provide social security and bring
them into the mainstream of society.
• According to the department of women, child development and social security (WCDSS),
transgenders would need to get a certificate from the deputy commissioner’s office to avail the
benefits of the pension scheme.
About Jharkhand :
• Governor : C. P. Radhakrishnan
• Chief Minister : Hemant Soren
• Capital : Ranchi
• Tiger Reserve : Palamu Tiger Reserve
• Wildlife Sanctuary : Dalma Wildlife Sanctuary, Gautam Budha Wildlife Sanctuary, Udhwa Lake
Bird Wildlife Sanctuary
Maharashtra Approves Establishment of Maharashtra Drone Mission, Envisions Global Drone Hub
Status
• The Maharashtra government has decided to set up the Maharashtra Drone Mission (MDM) for the
use of drone technology.
• Aim of the Mission : To utilize drone technology for various functions, including security
surveillance, disaster rescue and relief, delivery of emergency medicines and vaccines to remote
areas, monitoring infrastructure projects, and traffic management.
• A five-year implementation plan has been developed by a team of experts from the Indian Institute
of Technology (IIT)-Bombay.
.
• The headquarters of the Maharashtra Drone Mission will be located at IIT-Bombay.

• This move is expected to transform Maharashtra into a global drone hub.
About Maharashtra
• Governor: Ramesh Bai
• Capital: Mumbai
Sanctuary
Jammu and Kashmir becomes first Union Territory to implement PM Vishwakarma Yojana
• Jammu and Kashmir (J&K) has become the first Union Territory (UT) to implement the Prime
Minister (PM) Vishwakarma Yojana.
• PM Vishwakarma Yojana is an initiative to empower and enhance the skills of the craftsman
community.
• PM Vishwakarma Yojana was launched by the Ministry of Micro, Small and Medium Enterprises
(MSME) to provide holistic support to artisans and craftspeople, including access to collateral-free
credit, skill training, modern tools, incentives for digital transactions, and market linkage support.
• The primary aim of the scheme is to recognize artisans and craftspeople through PM Vishwakarma
certificates and ID cards.
• The scheme includes basic training of five to seven days, advanced training of 15 days or more, a
stipend of ₹500 per day, and a free modern toolkit worth ₹15,000 for trained Vishwakarmas.
About J&K :
• Lieutenant Governor : Manoj Sinha
• Capitals : Srinagar, Jammu
Vinfast Announces Plans to Establish Electric Vehicle (EV) Manufacturing Facility in Tamil Nadu's
Thoothukudi
• inFast, Vietnam's leading automaker and electric vehicle (EV) manufacturer, is set to establish an
EV and battery manufacturing facility in Thoothukudi, near Chennai.
.
• The facility in Thoothukudi is planned to have the capacity to produce 150,000 electric vehicles
(EVs) in the first phase.
• Total Investment : The total investment in the 400-acre facility is expected to reach as much as $1
billion or potentially even more.
• Global Expansion Strategy : VinFast, the EV arm of Vingroup (Vietnam’s largest conglomerate),
had previously announced plans to build assembly factories in India and Indonesia.
About VinFast :
• Founded : 2017
• VinFast currently has a manufacturing facility in Hai Phong in Vietnam.
• VinFast announced that for its next phase of development starting in 2024, it plans to roll out
dealership networks in new market clusters including India.
About Tamil Nadu :
Sanctuary
Himachal Pradesh Government Notifies Granting Scheduled Tribe (ST) Status to Hatti Community
• The Himachal Pradesh (HP) government has issued a notification granting Scheduled Tribes (ST)
status to the Hatti community in the Transgiri area of Sirmaur district.
• Members of the Hatti community, residing in 154 panchayats, had been demonstrating against the
state government for not implementing the Constitution (Scheduled Tribes) Order (Second
Amendment) Act, 2023, and notifying the community as ST.
• The Constitution (Scheduled Tribes) Order (Second Amendment) Bill, 2023, was passed by
Parliament, and the President notified it on August 4, 2023.
.
West Bengal Secures Geographical Indication (GI) Tags for Sundarban Honey, Black Nunia Rice,
Tangail, Gorod & Kadiyal Sarees
• West Bengal has achieved Geographical Indication (GI) tags for 5 more products as part of the
National GI Drive Mission.
• The newly awarded GI tags include Sundarban honey, Black Nunia rice, Tangail sarees, Gorod
sarees, and Kadiyal sarees.
• The Central Government has uploaded the names of the products with GI tags on the designated
portal.
• Sundarban honey, collected from the Sundarban forest, has received a GI tag. It was collected
by the 'Mauli' community.
• The West Bengal Forest Development Corporation Limited (WBFDCL) has applied for a special
GI tag for Sundarban honey.
• WBFDCL collects and processes Sundarban honey, selling it under the brand name "Mouban."
About West Bengal:
• Capital: Kolkata
• Chief Minister: Mamata Banerjee
• Governor: C V Anantha Bose
• National Parks: Neora Valley National Park, Buxa Tiger Reserve, Jaldapara National Park,
Gorumara National Park, Sunderbans National Park
Arunachal Pradesh's Adi Kekir, Handmade Carpets, and Wancho Wooden Craft Granted Geographical
Indication (GI) Tag
• Arunachal Pradesh's ginger, locally known as Adi Kekir, handmade carpets and Wancho wooden
craft have secured the Geographical Indication (GI) tag.
• A geographical indication or GI is a sign used on products that have a specific geographical origin
and possess qualities or a reputation that are due to that origin.
About Adi Kekir Ginger :
• Adi Kekir is a specific variety of ginger grown in East Siang, Siang, and Upper Siang districts of
Arunachal Pradesh.
• It is known for its taste and size.
About Handmade Carpets :
• The handmade carpets made by Tibetan refugees, who live in various parts of the state, are known
for their typical designs, motifs and textures.
.
About Wancho Wooden Craft :

• Wancho wooden craft items are unique as they feature tobacco pipes with head-shaped bowls and
drinking mugs showing warriors carrying heads.
• The artisans also make sculptures of Lord Buddha, animals and dolls.
• Including ginger, handmade carpets, and Wancho wooden craft, a total of six products from
Arunachal Pradesh have now received the Geographical Indication (GI) certification.
• Earlier, Arunachal Pradesh had received the GI tag for products such as Yak Churpi (cheese from
Arunachali yak milk), Khamti rice (sticky rice from Namsai district), and Tangsa textile (from
Changlang district).
Assam Government Initiates 'Gunotsav 2024' to Assess Performance of 40 Lakh Students in
Government Schools
• 'Gunotsav 2024' has been launched by the Assam Government for holistic assessment of
students' performance.
• It has been launched for holistic assessment of the performance of about 40 lakh students of
43,498 government schools in 35 districts of the state.
About Gunotsav :
• Gunotsav, an initiative of the Government of Assam, is covering all government primary and
secondary schools in the state.
• The services of 18,098 external evaluators will be used for this evaluation process, starting in all
the primary and secondary schools of the state.
• This diverse group of evaluators will include the chief minister, MLAs, the chief secretary, and
college teachers, Government Officers among others to visit schools as external evaluators.
• This evaluation process in schools will continue in three phases till February 8, which started on
3 January 2024.
• Additionally, the assessment will evaluate schools' performance across various domains,
including scholastic and co-scholastic aspects, infrastructure availability and utilization, and
community participation.
• 'Gunotsav' was organized for the first time in 2017.
About Assam :
• Governor : Gulab Chand Kataria
• Chief Minister : Himanta Biswa Sarma
• Capital: Guwahati
.
• National Park: Kaziranga National Park, Manas National Park, Nameri National Park
• Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary
National Youth Festival at Nashik in Maharashtra
• Prime Minister Narendra Modi will inaugurate the 27th National Youth Festival at Nashik in
Maharashtra.
• He will also address the youth of the nation.
• National Youth Day is celebrated every year to honour the ideals and thoughts of Swami
Vivekananda.
• Road safety awareness events will be conducted at major cities and 750 district headquarters of
the country.
• The theme of the National Youth Festival this year is “MYBharat-ViksitBharat@2047- By the Youth,
For the Youth."
IndiGo Airlines launches direct flight between Ayodhya and Ahmedabad

• Direct flight services from Ayodhya to Ahmedabad started on January 11,2024.
• Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the direct flight of IndiGo Airlines from
Ayodhya to Ahmedabad through Video conferencing.
• On this occasion, the Chief Minister stated that this Maharshi Valmiki International Airport in
Ayodhya will help in shaping the future of the youth of the region and will also benefit the economy
in a major way.
• He also thanked Prime Minister Narendra Modi, Union Civil Aviation Minister
Mayurbhanj's Red Ant Chutney in Odisha Secures Geographical Indication (GI) Tag
• The Similipal kai chutney made with red weaver ants by the tribal people of Odisha’s Mayurbhanj
district (Odisha) received the geographical identity tag.
• The application was made by The Mayurbhanj Kai Society Ltd in 2020 for registration in Class 30
under sub-section (1) of section 13 of Geographical Indications of Goods (Registration and
Protection) Act, 1999.
About Similipal Kai Chutney :
• The savoury chutney is popular in Mayurbhanj region for its healing properties and also deemed
important for nutritional security of the tribal people.
.
• Many indigenous people from Mayurbhanj district venture into nearby forest to collect kai pimpudi
(red weaver ant).
• Around 500 tribal families have been eking out a living by collecting and selling these insects and
a chutney made with them.
About Red Weaver Ants :
• The red weaver ants are indigenous to Mayurbhanj and are found in abundance in the jungles of
every block area of the district, including in the Similipal Tiger Reserve, throughout the year.
• The red weaver ants form colonies with multiple nests in trees.
• Each nest is made of leaves stitched together with the silk produced by their larvae.
• They mostly lodge in trees like mango, sal, jambu and jackfruit.
• The nests are strong enough against wind and impermeable to water.
About GI Tag :
• A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
territory.
• A GI is a label that is applied to products that have a specific geographical origin and that have
• The tag is valid for a period of 10 years after which it is renewed.
India's Longest Sea Bridge To Be Inaugurated By PM Modi
• The Mumbai Trans Harbour Link (MTHL) or Atal Setu, longest sea bridge in India is set to be
inaugurated by the prime minister Narendra Modi.
• The bridge has been named after former prime minister and late BJP veteran Atal Bihari
Vajpayee.
• 21.8 km in length and having six lanes, the bridge has been constructed at a whopping cost
of ₹18,000 crore.
• The bridge originates from Sewri in Mumbai and ends at Nhava Sheva in Uran taluka in Raigad
district.
• It is expected to boost economic development in Navi Mumbai and other nearby areas. It has
shortened the distance between Mumbai and Navi Mumbai to just 20 minutes which earlier took
2 hours.
Modi inaugurates NACIN complex in Andhra Pradesh
.
● Prime Minister Narendra Modi will be inaugurating the new campus of National Academy of
Customs, Indirect Taxes & Narcotics (NACIN) at Palasamudram in Andhra Pradesh’s Sri
Sathya Sai
● He will be interacting with the Officer Trainees of the 74th and 75th batch of Indian Revenue
Service (Custom and Indirect Taxes) as well as the Officer Trainees of the Royal Civil Service
of Bhutan.
● He will be visiting the Antiques Smuggling Study Centre, Narcotics Study Centre and Wildlife
Crime Detection Centre at NACIN and will also plant a sapling and interact with construction
workers.
● The PM will also be releasing a book titled Flora of Palasamudram.
● Andhra Pradesh Governor S A Nazeer, Chief Minister Y S Jagan Mohan Reddy and Union
Finance Minister Nirmala Seetharaman are also likely to participate in the programme.
About NACIN:
● NACIN is an apex training institute by the Government of India which plays a pivotal role in
training officers of various countries in the department of customs, drug laws and environment
protection.
● It has been imparting in-service training to the officers of Government of India across several
departments including Customs, Central Excise, Service Tax, Drug Laws, Anti-Money
laundering, Weapons of Mass Destruction, Fake Indian Currency Notes, Currency Notes,
Ozone Depleting Substance (ODS), Intellectual Property Right (IPR)
Here are five things about the institute:
Organisation:
● NACIN is a training institute by the Government of India under the administrative control of the
Central Board of Excise & Customs (CBEC), Department of Revenue, Ministry of Finance,
Government of India.
Vision:
● NACIN has a vision to create an institution of excellence where people can achieve full
potential in their academic, creative, personal, physical, moral and spiritual development.
Mission:
● The mission of NACIN is to meet the requirements of the Excise and Customs
Department and to contribute to strengthening the nation.
Aim:
.
● NACIN aims at looking out of the box and the ability to read and find out the fine things that
often escape the less trained and inexperienced eyes.
● It aims at creating dynamism by making a habit of not accepting things, especially the systems
that promote stagnation and corruption.
● NACIN also aims at skill management by learning, unlearning and relearning along with the
changing time.
● The institute aims at making people want to take decisions without haste or delay and is
dedicated to instill professionalism in officer trainees.
Idea:
● The institution operates on a set of powerful ideals.
● The purpose is not to fill the minds of young officers with an endless accumulation of raw
facts. Instead, its idea is to infuse a new dynamic and composite perspective in the minds of
the trainees.
● The institute believes in continuous modernisation and restructuring.
About Andhra Pradesh:
● Governor: Abdul Nazeer
● Chief minister: YS Jagan Mohan Reddy
● Capital: Amaravati
● National Park : Nagarjunasagar Srisailam Tiger Reserve, Papikonda National Park, Rajiv
Gandhi (Rameswaram) National Park, Sri Venkateswara Wildlife Sanctuary, National Park
● Wildlife Sanctuaries : Gundla Brahmeswaram Wildlife Sanctuary, Coringa Wildlife Sanctuary,
Koundinya Wildlife Sanctuary, Krishna Wildlife Sanctuary, Pulicat Lake Wildlife Sanctuary
Maharashtra Pench Tiger Reserve becomes India’s first Dark Sky Park
● The Pench Tiger Reserve (PTR) in Maharashtrahas been marked as India’s first Dark Sky
Park and the fifth such park in Asia for protecting the night sky and preventing light pollution,
making the facility ideal for astronomy enthusiasts.
● The International Union for Conservation of Nature(IUCN) emphasises on the recognition of
the intrinsic value of the night sky as a natural, cultural, and historical resource.
● The IUCN also highlights the need to preserve natural darkness for the sake of nature
conservation, ecological integrity in protected areas, and the well-being of communities in
healthy cities, stated Prabhu Nath Shukla, deputy director of PTR Maharashtra.
● The escalating global threat of light pollutionposes a substantial risk to this invaluable
.
resource, he stated in a release.

● The Dark and Quiet Skies for Science and Society Working Group, led by the International
Astronomical Union, has recommended the establishment of ‘Dark Sky Oases’ by national
and local governments, Shukla
● He stated the Dark Sky Place certification focuses on lighting policy, dark sky-friendly retrofits,
outreach and education, and monitoring the night sky.
● The reserve has inaugurated a night observatory with the district planning committee (DPC)
fund, the official stated, adding that the area near Bagholihas been earmarked for stargazing.
● As part of the measures, more than 100 street and community lights in Wagholi, Sillari,
Pipariya and Khapa villages of the Paoni UC Range buffer area have been replaced with
lights facing the ground to mitigate light pollution, he stated.
About Pench Tiger Reserve:
● Pench Tiger Reserve or Pench National Park is one of the premier tiger reserves of India and
the first one to straddle across two states – Madhya Pradesh and Maharashtra.
● The fictional works of Rudyard Kipling, The Jungle Book and The Second Jungle Book, are
set in the region. Kipling himself never visited the area, instead basing his descriptions on
other locations in India.
What is a Dark Sky Park?
● A dark-sky preserve is an area, usually surrounding a park or observatory, that restricts
artificial light pollution.
● The purpose of the dark-sky movement is generally to promote astronomy.
● The Indian Astronomical Observatory(IAO), a high-altitude astronomy station located
in Hanle, and operated by the Indian Institute of Astrophysics, is India’s first dark-sky
preserve.
● It is Situated in the Western Himalayasat an elevation of 4,500 meters (14,764 ft), the IAO is
one of the world’s highest-located sites for optical, infrared and gamma-ray telescopes.
About Maharashtra:
● Governor: Ramesh Bais
● Chief minister: Eknath Shinde
● Capital: Mumbai
● National Park : Sanjay Gandhi (Borivali) National Park, Nawegaon National Park, Pench
(Jawaharlal Nehru) National Park , Gugamal National Park, Tadoba National Park
.
Haryana CM Inaugurates 2nd Panchkula Book Fair with ‘Knowledge and Electricity’ Theme
● Haryana Chief Minister Manohar Lal inaugurated the 2nd Panchkula Book Fair, organized by
six departments under the aegis of power companies in Panchkula.
● The National Book Trust also has a special contribution in this fair.
● The theme of the book fair is “Haryana illuminates with the light of knowledge, knowledge
flows through electricity”.
● Nearly 100 publishers have put stalls in the fair, in which books of Hindi, English, Urdu,
Sanskrit, Punjabi, among others are available. The book fair will continue till 22 January.
● Addressing the event, Haryana Chief Minister stated that the coordination of language in
books is akin to the mutual relationship between body and soul.
● He stated that books not only enhance knowledge but also free us from mental stress.
● He stated that in ancient times, ‘Shruti Gyaan’ was used to impart knowledge to the future
generations.
About Haryana:
● Governor: Bandaru Dattatreya
● Chief minister: Manohar Lal Khattar
● Capital: Chandigarh
● National Park : Sultanpur National Park, Kalesar National Park
● Wildlife Sanctuaries: Morni Hills (Khol-Hi-Raitan) Wildlife Sanctuary & Bir Shikargarh Wildlife
Sanctuary, Chhilchhila Lake Wildlife Sanctuary, Khaparwas Wildlife Sanctuary
Odisha CM unveils project to develop heritage corridor around Puri’s Jagannath Temple
● Odisha Chief Minister Naveen Patnaik unveiled the Shree Mandir Parikrama Prakalpa
(SMPP),a massive peripheral development project around Puri’s 12th century Shree
Jagannath Temple.
● Patnaik reached Puri at the end of three days of rituals performed at the temple, presided over
by Puri’s titular king Dibyasingh Dev.
Zone-wise development
● The 75-metre-wide space encircling the temple, known as the heritage corridor, has now been
named the SMPP and divided into nine different zones.
● First, the SMPP has a 7-metre green buffer zone, adjacent to the Meghanada Pacheri, or the
boundary of the temple.
● This is followed by the 10-metre Antar Pradakshina, which allows space for ceremonial
.
processions of the deities throughout the year; it also doubles as a parikrama path, inviting the
general public to undertake a circumambulation of the sacred Shree Mandira complex.
● There is a 14-metre landscape zone where a garden showcases a variety of trees integral to
Jagannatha culture.
● An 8-metre Bahya Pradakshina lets visitors spend some time in quietness and contemplation.
● A 10-metre public convenience zone has nine restrooms, drinking water facilities, two
information-cum-donation kiosks, and three mini cloakrooms, apart from a police kiosk.
● There is also a shaded footpath, and a dedicated emergency lane.
About Odisha:
● Governor: Raghubar Das
● Chief minister: Naveen Patnaik
● Capital: Bhubaneswar
● National Park: Bhitarkanika National Park, Nandankanan National Park, Simlipal National
Park.
● Wildlife Sanctuary: Ushakothi Wildlife Sanctuary, Tikarpada Wildlife Sanctuary, Chandaka
Elephant Reserve
Ram Temple: UP govt to start helicopter services from six districts to Ayodhya
● The Uttar Pradesh government plans to initiate helicopter services to Ayodhya

from six districts in the state by the end of January.
● As per the release, chief minister Yogi Adityanath will inaugurate the helicopter service from
● The initiative is set to introduce an aerial darshan of Ayodhya city and the Ram temple for
devotees.
● This aerial tour will cover prominent tourist destinations, including Ram Mandir,
Hanumangarhi, and Saryu Ghat.
● Services are set to commence from Gorakhpur, Varanasi, Lucknow, Prayagraj, Mathura, and
Agra.
● The helicopter ride can accommodate up to five devotees, with a weight limit of 400 kg, and
devotees are allowed to carry a maximum of 5 kg of luggage.
● Governor: Anandiben Patel
● Chief minister: Yogi Adityanath
.
● Capital: Lucknow
● National Park: Jim Corbett National Park, Dudhwa National Park
● WildLife Sanctuary: Mahavir Swami Wildlife Sanctuary, Kishanpur Wildlife Sanctuary, National
Chambal Gharial Wildlife Sanctuary, Kaimur Wildlife Sanctuary, Chandraprabha Wildlife
Sanctuary
Karnataka HC imposes Rs 5 lakh penalty on Govt for not complying with 2020 court order
● The Karnataka High Court has imposed a fine of Rs 5 lakh on the State Government after it
did not comply with a court order passed in 2020.
● The order was passed by a bench consisting of Chief Justice Prasanna Varale and Justice
Krishna S Dixit.
● The contempt complaint was filed by a retired employee of the Department of Public Libraries
regarding the non-fulfilment of the 2020 order, which had ruled in his favour regarding
entitlement to pay increments.
● The 2020 order was based on a petition that the employee had filed in 2014, and ended with
the court directing the Government to comply with its order from 2006 and pay the amount.
About Karnataka:
● Governor: Thawar Chand Gehlot
● Chief minister: Siddaramaiah
● Capital: Bengaluru
● National Park: Bandipur National Park, Anshi National Park, Kudremukh National Park.
● WildLife Sanctuary: Nagarahole Tiger Reserve, Bhadra Wildlife Sanctuary, Mudumalai Tiger
Reserve, Bannerghatta Biological Park.
Andhra Pradesh CM Jagan to unveil 125-ft statue of Ambedkar in Vijayawada
● Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy will unveil a 125 foot statue of Dr B R
Ambedkar at Swaraj Maidan in
● The statue, constructed at an estimated cost of Rs 404 crore, stands on an 81-foot pedestal,
making it a 206-feet
● It is named as the ‘Statute of Social Justice’ and Swaraj Maidan will be named after Dr B R
Ambedkar.
● The state government has stated that it is the tallest non-religious statue project in the
country.
● The project has a park with Dr BR Ambedkar experience centre, a convention centre with a
.
seating capacity of 2,000, a food court, a play area for children, water bodies, musical fountain
and long walking paths, officials informed.
● The 125-foot statue is made of steel frame and bronze cladding and is completely made in
India. Around 400 MT of stainless steel and 120 metric tonnes of bronze were used for the
construction of the statue. The 81 foot pedestal building Is designed as Kalachakra Maha
Mandal of Buddhist architecture.
● The project, which was started in December 2021, has been implemented by the Social
Welfare Department (nodal agency) of the state government and Andhra Pradesh Industrial
infrastructure Corporation.
Bengal CM Mamata Banerjee inaugurates 47th Kolkata International Book Fair
● Inaugurating the International Kolkata Book Fair, West Bengal Chief Minister Mamata
Banerjee stated that relations between India and the UK have spanned over a long time since
the Battle of Plassey in 1757.
● The UK is the theme country of this 47th edition of the book fair.
● Banerjee stated since 1757, the British had ruled India till Independence during which several
architectural edifices have been constructed by them.
● Banerjee stated she had received invitations from a premier UK university which she is likely
to visit after June this year.
● Nearly 20 countries are participating in this year’s book fair which has become a big festival in
the metropolis, she added.
● The chief minister stated she had published 143 books so far and intends to make the
figure 150 next year, she added.
About West Bengal :
● Governor: V. Ananda Bose
.
● Chief minister: Mamata Banerjee

● Capital: Kolkata
● National Park : Jaldapara National Park, Sunderban National Park (also a Tiger Reserve),
Singalila National Park, Neora Valley National Park, Gorumara National Park, Buxa National
Park
● Wildlife Sanctuaries : Senchal Wildlife Sanctuary, Lothian Island Wildlife Sanctuary,
Mahananda Wildlife Sanctuary, Sajnekhali Wildlife Sanctuary, Pakhi Bitan Wildlife Sanctuary
Moh-Juj Fights: A Cultural Resurgence in Assam
● The Assam Government, led by Chief Minister Himanta Biswa Sarma, reinstated the
traditional buffalo fight (Moh-Juj) after a nine-year hiatus.
● The event, held in the Ahotguri area of Nagaon district, marks a significant cultural revival.
● The Supreme Court had previously banned such events, akin to Tamil Nadu’s Jallikattu and
Maharashtra’s bullock cart
From ban to reinstatement
● The Supreme Court had outlawed Jallikattu and bullock-cart races in 2014, including events of
a similar nature.
● However, a breakthrough came in May last year when five-judge bench upheld amendments
by Tamil Nadu, Maharashtra, and Karnataka to the Prevention of Cruelty to Animals (PCA)
Act, 1960.
● This allowed the resumption of bull-taming
● Responding to a Gauhati high court query in October, the Assam Government committed to
framing Standard Operating Procedures (SOP).
● Subsequently, on December 8, 2023, the state cabinet approved the revival of traditional
buffalo fights under strict SOP.
● According to Sarma, Moh-Juj was introduced to Assamese culture by the 30th Ahom king
Swargadeo Rudra Singha nearly 200 years ago.
● Alongside buffalo fights, Swargadeo Rudra Singha introduced elephant-fights and bird fights,
events that played a unifying role in society.
● The chief minister stressed the delicate balance achieved between animal welfare and the
celebration of ancient culture.
● In addition to Moh-Juj, the Assam Government also revived the traditional bird-fight, Bulbuli
fight, which had faced a ban in 2016.
.
● The event, organised in Hayagriva Madhav, was attended by Chief Minister Sarma and his
family.
● Sarma reiterated the government’s commitment to breathing life into ancient customs and
rituals.
PETA’s concerns
● People for the Ethical Treatment of Animals (PETA), India, raised concerns about the events
being a violation of the Prevention of Cruelty to Animals (PCA) Act, 1960.
● PETA urged Chief Minister Sarma to halt Moh-Juj and Bulbuli bird fights during the Bhogali
Bihu festival, emphasising the legal implications based on Supreme Court judgments.
About Assam:
● Governor: Gulab Chand Kataria
● Chief minister: Himanta Biswa Sarma
● Capital: Dispur
● National Park : Kaziranga National Park, Manas National Park, The Orang National Park,
Raimona National Park, Namdapha National Park
● Wildlife Sanctuary: Sonai Rupai Wildlife Sanctuary, Pani-Dihing Wildlife Sanctuary, Nambor
Wildlife Sanctuary, Marat Longri Wildlife Sanctuary, Lawkhowa Wildlife Sanctuary
Andhra Pradesh begins caste census
● The YS Jagan Mohan Reddy government in Andhra Pradesh launched a comprehensive
caste census to enumerate all the castes in the state.
● A special phone app has been designed by the government to conduct the census, expected
to be completed in another 20 days to one month.
● Andhra Pradesh has become the second state in the country, after Bihar, to launch such
a caste census.
● More than 700 caste groups are available on the mobile application for the public to choose
theirs.
● The ‘No caste’ option has also been provided.
● According to some rough estimates, the BCs, which include around 143 different caste
groups, comprise around 37 percent of the state’s population of approximately 4.98 crore.
● Kapus and various OBC groups are numerically significant, constituting around 15 percent of
the overall population of Andhra Pradesh.
.

Akasa Air announces flight operation from upcoming Noida International Airport
● Akasa Air has become the second airline to announce a tie up with Noida International Airport,
located near the national capital.
● Visitors gathered near an Akasa Air aircraft during the ‘Wings India 2024’, an exhibition and
conference on civil aviation, at the Begumpet Airport in Hyderabad.
● Previous to Akasa Air, IndiGo was the first airlines to announce its partnership with the Noida
airport for commercial services to enhance connectivity, the airline had said in a statement
earlier.
● A partnership agreement was signed between Akasa Air and Noida International
Airport in Hyderabad on the sidelines of industry event ‘Wings 2024’.
● The Noida International Airport, which is also called the Jewar International Airport, is aimed
at servicing the National Capital Region (NCR).
● Noida International Airport, which is expected to start operating from September 2024, is
aimed at offering passengers unmatched connectivity and an exceptional travel experience.
● Akasa Air’s partnership with Noida airport will help aid connectivity between NCR and Tier 2
and 3 cities across the country.
All about Noida International Airport
● The Noida International Airport of Jewar Airport is an under-construction international airport
which is situated near the new planned YEIDA city in Uttar Pradesh.
● The airport is aimed at acting as a connectivity point for Delhi NCR, set to relieve some of the
load from the Indira Gandhi International Airport in Delhi.
● Once completed, Jewar Airport will be India’s and Asia’s largest international airport.
● Further, the National Highway Authority of India is also constructing a 31-km greenfield
highway from the airport to Sector-65, Faridabad on Delhi–Mumbai Expressway.
● The first flight operations from the airport are expected to start by the end of
.

● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● National Park : Dudhwa National Park, National Chambal Sanctuary, Sariska National Park
● Wildlife Sanctuary : Bakhira Wildlife Sanctuary Bakhira Wildlife Sanctuary, Chandraprabha
Sanctuary
‘Gole Mela’ Festival at Jagannath Temple, Udhampur, J&K
● In Jammu and Kashmir, a Popular Festival known as ‘Gole Mela’ was organized at Jagannath
temple in Udhampur.
● A large number of devotees assembled and paid obeisance at Jagannath temple.
● Gole Mela is organized twice every year.
● Devotees believe that from today the night time starts decreasing and day time
starts increasing day by day.
● Moreover, two ancient temples are dedicated to Lord Jagannatha across India.
● One is situated in Puri, Orissa and other in Udhampur District of Jammu and Kashmir.
About Jammu & Kashmir:
● Governor : Manoj Sinha
● National Park : Dachigam National Park, Hemis National Park, Kazinag National Park,
Kishtwar National Park, Salim Ali National Park.
● Wildlife Sanctuary : Thajwas (Thajiwas) (Baltal) Wildlife Sanctuary, Changthang Cold Desert
Wildlife Sanctuary, Gulmarg Wildlife Sanctuary, Hirpora (Heerpora) Wildlife Sanctuary,
Hokersar Wildlife Sanctuary, Jasrota Wildlife Sanctuar, Karakoram (Nubra Shyok) Wildlife
Sanctuary.
Odisha Cabinet Approves New Scheme LABHA For Tribals
 Odisha Cabinet approved a new scheme for the development of the tribals of Odisha-LABHA (Laghu
bana jatya drabya kraya), officials stated.
.
 Briefing the media, Chief secretary Pradeep Kumar Jena stated the LABHA Yojana is a 100% state-
funded MSP for MFP scheme (minimum support price for minor forest produce).
 The minimum support price will be determined every year by the state government.
 Under the scheme, a primary collector (tribal)will be able to sell the minor forest produce at Minimum
Support Price collected at the procurement centres by TDCCOL.
 Since 99% of primary collectors are tribals and majority of them are women, LABHA Yojana will integrate
the efforts with the Mission Shaktis Women SHGs.
 These procurement centres will be managed by SHGs /any other notified agencies assisted by
TDCCOL.
 Upon collection, the amount will be transferred as DBT to the beneficiary account and the SHG /any
other agency will recieve Commission(2%) as well.
 The procurement automation system will capture the total collection of MFP and the details of the
primary collector and the procurement point.
 As per the 5T principles, Procurement Automation System which will be using technology to ensure
transparency will bring about greater benefits for the tribal people.
 For further sale, TDCCOL will do e- tendering and explore value addition and processing units.
 The State Government to further benefit the tribals of is setting up a 25-crore Tamarind processing plant
in Rayagada which will use the Minor Forest Produce of Tamarind procured through LABHA Yojana for
value-addition .
 Due to LABHA Yojana, possibility of distress sale of the produce to any middlemen will also be
eliminated.
 The State Government has also approved establishment of Commission for Preservation and Promotion
of Tribal Languages of Scheduled Tribes of Odisha.
 There are 21 tribal languages in Odisha which the state government wants to preserve, promote,
develop, disseminate and safeguard of the Tribal languages in Odisha through this Commission.
 This Commission which will encourage multilingual education, documenting and preserving tribal
languages, promoting the use of those languages, protecting linguistic rights among several enriching
activities for the development of the tribal languages.
 In the education system under the Multilingual Education (MLE) programme, all 21 recognized tribal
languages by the State are included.
.
 The Commission will also work towards inclusion of tribal languages like Ho, Mundari, Kui and Saora in
the 8th Schedule of the Indian Constitution by pursuing with the Centre which has been not including
these languages in the 8th Schedule of the Constitution despite several initiatives by the government.
 Unanimous Cabinet resolution was passed today reiterating the demand for inclusion of 169
communities in the ST list of Odisha.
 The cabinet today reiterated the inclusion of Ho, Mundari, Kui and Saora languages in the 8th Schedule
of the Indian Constitution.
Invest Goa 2024 summit was held on January 29
• The Invest Goa 2024 Summit which will feature 24 different speakers addressing potential key
sectors of the coastal state will begin on January 29, in Goa.
• The summit is a collaborative initiative by the Goa Industrial Development Corporation (Goa-IDC)
and the Confederation of Indian Industry (CII) bringing together industry leaders and key
stakeholders which promises to be a key platform for fostering dialogue and enhancing
investment prospects in the State of Goa.
• The spokesman of the summit stated that the distinguished line-up of speakers includes Suresh
Prabhu, Former Union Minister; R Dinesh, President-CII; Chandrajit Banerjee, Director General,
CII; Piruz Khambatta, Past Chairman, CII Western Region; and Swati Salgaocar Deputy
Chairperson-CII WR President
• The government has signed of MoU between TVS Industrial and Logistics Park and Goa
Investment Promotion and Facilitation Board, as well as Pai Kane Group and Goa Investment
Promotion and Facilitation Board.
Corning's Joint Venture in India Plans to Establish a ₹1,003-Crore Factory in Tamil Nadu for Gorilla
Glass Production
• Bharat Innovative Glass Technologies Private Limited, a joint venture firm between the US-based
gorilla glass maker Corning International Corporation and Indian telecommunications company
Optiemus Infracom, will be setting up a new factory near Chennai at an investment of ₹1,003 crore
.
to manufacture front-cover glass products, meant for smartphones and electronic products.
• The company has signed an agreement with the Tamil Nadu government for the proposed project,
indicating collaboration and support from the state.
• The manufacturing unit will be established at SICPOT-Pillaipakkam Industrial Estate in
Kancheepuram district, Tamil Nadu.
• The project is expected to create employment opportunities for 840 people, contributing to local
economic development.
• The project introduces precision glass-processing technology to India for the first time, showcasing
advancements in manufacturing techniques.
• Tamil Nadu (TN) has also emerged as the top electronics exporter in the country as it achieved
$5.37-billion exports in 2022-23, compared with $1.6-billion exports recorded in 2020-21.
• The Tamil Nadu government has introduced the "Tamil Nadu Semiconductor and Advanced
Electronics Policy 2024" to attract more investments and foster export growth in the electronics
sector.
About Tamil Nadu :

Sanctuary
Chenab River successfully diverted, paving way for accelerated construction & timely commissioning of
Ratle Hydro Electric Project in Kishtwar
.
• A major milestone has been achieved at the 850 MW Ratle Hydro Electric Project in Jammu &
Kashmir, with the diversion of Chenab River through diversion tunnels at Drabshalla in Kishtwar
district.
• The river diversion is a critical step that enables the isolation of the dam area at the riverbed, paving
the way for the commencement of crucial activities such as excavation and dam construction.
• This development is expected to accelerate project construction, minimizing delays and supporting
the efforts to meet the scheduled commissioning date of May 2026.
• Ratle Hydroelectric Power Corporation Limited (RHPCL), a Joint Venture of NHPC Limited and the
Government of J&K with a shareholding ratio of 51:49 per cent, is overseeing the Ratle Project.
• This hydroelectric project, situated on the Chenab River in Kishtwar District, boasts an installed
capacity of 850 MW.
• The Cabinet Committee on Economic Affairs sanctioned the project in January 2021, allocating a
total cost of Rs. 5281.94 crores.
• New Delhi is supporting the Union Territory of Jammu and Kashmir with a grant of Rs. 776.44 crore
for JKSPDC’s equity contribution.
• NHPC will invest Rs. 808.14 crore from its internal resources.
• The Ratle Hydro Electric Project is expected to be commissioned in May 2026 contributing to grid
balancing and improving the power supply position.
• To enhance the project’s viability, the Government of the Union Territory of Jammu and Kashmir will
provide exemptions from water usage charges for 10 years post-commissioning.
• The implementation of the Ratle Hydro Electric Project is poised to create direct and indirect
employment for around 4000 individuals, contributing to the overall socio-economic development of
the Union Territory.
Furthermore, the Union Territory stands to benefit from free power worth Rs. 5289 crore and water
usage charges amounting to Rs. 9581 crore over the project’s 40-year life cycle.
Jaisalmer to Host Desert Festival 2024 from February 22 to 24
● The Desert Festival 2024 is scheduled to take place in Jaisalmer, Rajasthan, from February 22 to
24, with the theme "Back to the Desert."
● The festival will kick off with a procession starting from Lakshminath temple.
About the Festival :
.
● A notable focus for this year's festival is to provide ample space for local artists to showcase their
talents.
● Preparations for the event have commenced, marked by a meeting chaired by district collector
Pratap Singh.
● The meeting involved stakeholders such as citizens, hoteliers, tourism operators, and artists,
seeking their suggestions and involvement in the festival.
About Rajasthan :
● Governor : Kalraj Mishra
● Chief Minister : Bhajan Lal Sharma
● Capital : Jaipur
● National Park : Keoladeo National Park, Ranthambore National Park
● Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary
Ayodhya Ram Mandir Inaugurated by Prime Minister Narendra Modi
• The Ram Janmabhoomi temple in Ayodhya will be opened to the general public from January 23.
• Thousands of devotees and pilgrims are expected to visit the grand temple daily for 'darshan' of
Lord Ram Lalla.
• The 'pran pratishtha' ceremony of the temple is taking place on January 22 in an event attended
by Prime Minister Narendra Modi and other VVIP guests.
• The Ram temple holds immense importance for millions of devotees and followers of Hinduism
who believe that it's situated at the birthplace of Lord Ram.
• he 51-inch tall Ram Lalla idol to be consecrated, has been crafted by Mysuru-based sculptor
Arun Yogiraj.
• The idol also contains carvings of all ten incarnations of Lord Vishnu, Hindu Gods like Lord
Hanuman and other major Hindu religious symbols.
• According to the website of the Shri Ram Janmabhoomi Teerth Kshetra, the 'darshan' of Lord
Ram Lalla can be done.
• The free passes for the "aarti" can be obtained offline and online.
• According to the website of Shri Ram Janmbhoomi Teerth Kshetra, offline passes can obtained
from the Camp Office at Shri Ram Janmbhoomi after producing a valid government ID proof.
.
• Seven-day rituals for the consecration ceremony began on January 16.

• On January 22, Lakshmi Kant Dixit, a priest from Varanasi, will perform the ‘Pran Pratishtha’
ceremony at 12.20pm.
• National Park : Dudhwa National Park, National Chambal Sanctuary, Sariska National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary Bakhira Wildlife Sanctuary, Chandraprabha
Sanctuary
BUSINESS NEWS
GST collections rise 10% to Rs 1.64 lakh crore in December
• The gross Goods and Services Tax, GST revenue collection in the month of December, 2023
stood at one lakh 64 thousand and 882 crore rupees.
• The revenue for December is 10.3 percent higher than the GST revenues in the same month last
year.
• The Finance Ministry in a statement said that out of the total GST revenue collected for the month,
Central Goods and Services Tax, CGST collection is 30 thousand 443 crore rupees, State Goods
and Services Tax, SGST is 37 thousand 935 crore rupees, Integrated Goods and Services Tax,
IGST is around 84 thousand 255 crore rupees and cess is 12 thousand 249 crore rupees.
• According to the Finance Ministry, the average monthly gross GST collection of 1.66 lakh crore
rupees were recorded in the first nine months of this fiscal year.
Uttar Pradesh investor base surpasses Gujarat to rank second with 89.47 lakh stock market investors
• The number of stock market investors in India has surged past the 8 crore milestone, registering a
remarkable growth of 22.4% from the figure recorded on December 31, 2022, as per data from the
National Stock Exchange (NSE).
• The total investor count as of December 25, 2023, stood at 8.49 crore from 6.94 crore on
December 31, 2022.
• The state of Maharashtra tops the list of highest number of registered investors at 1.48 crore.
• Uttar Pradesh has ascended to the second position, surpassing Gujarat, with 89.47 lakh investors.
.
• Gujarat was in the third position with 76.68 lakh registered investors.
• West Bengal, Karnataka, Tamil Nadu, and Rajasthan emerge as the leading states, each with an
investor base of more than 47 lakh registered individuals.
Record 8.18 crore Income Tax Returns filed so far in current financial year
● A record eight crore 18 lakh Income Tax Returns, ITRs were filed in the current financial year.
● This is nine per cent more than the total ITRs filed in the last fiscal.
● According to the Central Board of Direct Taxes, around 7.5 crore ITRs were filed last year during the
same period.
● To encourage taxpayers to file their ITRs and forms early, over 103 crore outreaches were made
through targeted e-mail, SMS and other creative campaigns.
● The e-filing Helpdesk team handled over 27 lakh queries from taxpayers to support the taxpayers
proactively during the peak filing periods.
Flipkart co-founder Binny Bansal launches e-commerce start-up OppDoor
● Flipkart co-founder Binny Bansal has launched new e-commerce start-up OppDoor, business-to-
business (B2B) platform.
● The software services platform says it will help emerging ecommerce brands expand globally.
● OppDoor, is a ‘managed services platform for global expansion’.
● OppDoor delivers fully managed Amazon services aimed at expanding private label brands across
multiple regions globally.
● The start-up is housed under a Singapore-registered entity which was earlier called Three State
Ventures but has now been named OppDoor.
● Bansal’s venture fund is also called Three State Ventures.
Windfall levy on domestically produced crude raised, lowered on export-bound diesel, Aviation Turbine
Fuel.
● The Finance Ministry has raised the Special Additional Excise Duty (SAED), better known as windfall
gain levy on domestically produced crude, to ₹2300 per tonne from ₹1300.
● However, such levy on export-bound diesel and jet fuel was reduced to NIL.
● To date, windfall levies on diesel and jet fuel (Aviation Turbine Fuel or ATF) were ₹0.50 and ₹1.
● All the changes are coming into effect from 1st January. Such a levy on export-bound petrol will
continue at NIL.
● This decision has been taken as crude prices saw some rise earlier.
● This will likely impact oil exploration companies such as ONGC and Oil India.
.
● Cutting the windfall levy on diesel and ATF for export will impact Reliance Industries and Rosneft-
backed Nayara Energy as primary fuel exporters.
● India first imposed windfall profit taxes on July 1, 2022, joining several nations that tax supernormal
profits of energy companies.
Ajio set to become Reliance Retail's first profitable online venture
• Reliance Retail's online fashion business, Ajio, is set to turn profitable this month, becoming the
first online venture of the country's largest retail group to achieve the mark.
• Ajio is expected to post '6-8 crore in earnings before interest, tax, depreciation and amortisation
(EBITDA) in December.
• Reliance had started Ajio in 2017.
• AJIO recently unveiled plans to invest in and boost the growth of 100 direct-to-customer fashion
startups, aiming to showcase their products on a new Direct-to-Consumer (D2C)-focused digital
platform called AJIOGRAM, hosted on the AJIO platform
Ola Electric first Indian EV maker to file for an IPO
• Ola Electric Mobility, the Bhavish Aggarwal-led electric vehicle company, filed papers with Sebi to
go public via an IPO that is estimated to be worth about Rs 10,000 crore.
• Ola Electric is the first EV company in India planning to go public.
• It would also be the first automobile company to go for IPO in over 20 years, since Maruti Suzuki
(then Maruti Udyog) went public in mid-2003.
IFSCA may allow Indian listed firms to launch QIP, tax sops for listing
• Listed Indian companies could be allowed to launch qualified institutional placement (QIP) of
shares through exchanges at International Financial Service Centres (IFSCs) using an abridged
prospectus, according to a working group report.
• The working group, comprising representatives from the market regulator, the IFSC Authority
(Ifsca), ministry officials, bankers, and exchange officials, submitted its report on direct listing in
IFSC exchanges last week.
• Earlier this month, Ifsca Chairperson K Rajaraman had indicated a timeline of April 2024 to
facilitate direct listing at the maiden IFSC, GIFT City in Gujarat.
• Sebi regulations mandate a 25 per cent minimum public shareholding.
• V Balasubramaniam, managing director and chief executive officer, NSE International Exchange
(IX), and a member of the working group.
Toy exports from India increased 239% over last 8 years
.
• According to a case study on “Success Story of Made in India Toys” released by the DPIIT, the
Indian Toy industry witnessed a rise of 239% in exports (and a decline in imports by 52%) in 2022-
23 as compared to 2014-15.
• Toys exports from India increased 239% from $96 million in 2014-15 to $326 million in 2022-23.
• Toys imports declined 52% from $332 million to $159 million in the same period.
• The study was conducted by IIM Lucknow on behalf of the Department for Promotion of Industry
and Internal Trade (DPIIT).
• It is likely that toy exports will increase to $3 billion by 2028.
• The Ministry of MSME is supporting 19 Toy clusters under the Scheme of Funds for the
Regeneration of Traditional Industries (SFURTI).
India's GDP may grow 7.3% in FY24: Govt's first advance estimates
• The National Statistical Office has released its second advance estimate for the Indian Economy.
• According to it, the Indian economy is expected to grow at 7.3% in the Financial Year 2023-24.
• The Indian Economy will grow by 7.3% in FY 2023-24 over the provisional growth rate of 7.2% in
the previous financial year.
• NSO’s report is based on the First Advance Estimates (FAE) of National Income for the financial
year 2023-24.
• In this report, NSO said that the construction sector has been estimated to have a growth rate of
10.7%.
India’s Retail Inflation 5.69 per cent in December 2023
• The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation
(MoSPI) is releasing the All India Consumer Price Index (CPI) on Base 2012=100 and
corresponding Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C)
for the month of December 2023 (Provisional).
• CPIs for Sub-Groups and Groups for both All India and all States/UTs are also being released.
India's Index of Industrial Production grows by 2.4 per cent in November 2023
• The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month
(or the previous working day if the 12th is a holiday) with a six weeks lag and compiled with data
received from source agencies, which in turn receive the data from the producing factories/
establishments.
.
• For the month of November 2023, the Quick Estimates of Index of Industrial Production (IIP) with
base 2011-12 stands at 141.0.
HFCL bags Rs 1,127 cr order to transform BSNL's Optical Transport Network
• HFCL Ltd (HFCL) has secured a Rs 1,127 crore order from Bharat Sanchar Nigam Ltd (BSNL)
aimed at transforming the Optical Transport Network (OTN) infrastructure across the state-owned
telco's pan India network.
• HFCL's comprehensive network upgrade will not only cater to the requirements of enterprise and
FTTH/broadband services but also position BSNL for the future with the seamless launch of 4G
services and the anticipation of 5G services in the coming years.
• HFCL has strategically partnered with the NOKIA Network to deploy state-of-the-art optical
technology.
Direct Tax Collections Surpass 17 Lakh Crore in Current Fiscal, Marking 17% Growth Over Last Year
• The Direct Tax collections have recorded over 17 lakh crore rupee in the current fiscal so far,
which is about 17 per cent higher than the gross collections for the same period last year.
• Finance Ministry said, this collection is over 80 percent of the total Budget estimates of Direct
Taxes for 2023-24.
• The growth rate for Corporate Income Tax is 8.32 percent and Personal Income Tax is over 26
percent.
Ola founder’s Krutrim becomes India’s first AI unicorn

• Krutrim, an AI startup founded by Ola founder Bhavish Aggarwal, stated it has raised a funding
round that values it at $1 billion.
• The startup, founded last year, is the fastest to become a unicorn in India, it claimed in a press
statement.
• It’s also the first Indian AI startup to become a unicorn, it stated.
• Matrix Partners India — which has also backed Aggarwal’s other two startups, ride-hailing platform
Ola and EV startup Ola Electric — led the $50 million “first round” in Krutrim.
• TechCrunch reported last year that Aggarwal was in talks to raise $50 million for his new AI
venture.
• Krutrim, which means “artificial” in Sanskrit, is building a large language model that has been
trained on local Indian languages in addition to English.
.
• The startup plans to launch a voice-enabled conversational AI assistant that understands and
speaks multiple Indian languages, the startup stated
BANKING AND ECONOMY

RBI Reports Indian Banks Achieve Decadal High in Asset Quality Improvement
• The Reserve Bank of India (RBI) released a report titled ‘Trend and Progress of Banking in India’.
• As per the report, the Indian scheduled commercial banks (SCBs) Gross Non-Performing Assets
(GNPA) ratio improved in the second quarter of this financial year.
• According to the report, the consolidated balance sheet of SCBs grew by 12.2% in 2022–23.
• The improvement in asset quality is measured by GNPA ratios.
• The capital to risk weighted assets ratio (CRAR) of SCBs was 16.8 per cent at end-September
2023, with all bank groups meeting the regulatory minimum requirement and the common equity
tier 1 (CET1) ratio requirement.
RBI Prolongs Payments Infrastructure Development Fund Scheme By 2 Years Till December 2025
• The Reserve Bank of India (RBI) announced its decision to extend the Payments Infrastructure
Development Fund (PIDF) for two years up to December 31, 2025.
• The Scheme was operationalized by the RBI in 2021 for three years (extendable up to 2 years) to
encourage deployment of payment acceptance infrastructure in India.
• It includes physical Point of Sale (PoS) terminals, Quick Response (QR) codes, in tier-3 to tier-6
centers, North Eastern states and Union Territories (UTs) of Jammu &
Kashmir and Ladakh.
• Purpose: To strengthen the payment acceptance infra by including 30 lakh touch points, which
includes 10 lakh physical and 20 lakh digital payment devices every year.
About RBI :
RBI Grants Extension for the Implementation of Penalty Charge Norms on Loan Accounts
.
• The Reserve Bank of India (RBI) has decided to extend the timeline for implementation of
guidelines for lenders on penal charges in loan accounts by three months.
• In August,2023 the RBI had issued fresh guidelines for lenders on penal charges in loan accounts
to ensure that penal interest/ charges is not used as a revenue enhancement tool by them, over
and above the contracted rate of interest.
• The central bank’s instructions were supposed to come into effect from January 1, 2024.
• Accordingly, REs shall ensure that the instructions are implemented in respect of all the fresh loans
availed from April 1, 2024 onwards.
RBI Designates SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs)
• State Bank of India (SBI) and HDFC Bank, both domestic systemically important banks (D-SIBs),
will be required to set aside higher capital for the loans they make with effect from April 1, 2025, in
the backdrop of their balance sheets growing bigger.
• The central bank has prescribed higher additional Common Equity Tier (CET) 1 requirement for
SBI (bucket 3 to bucket 4 ) and HDFC Bank (bucket 1 to bucket 2) at 0.80 per cent (against 0.60
per cent up to March-end 2025) and 0.40 per cent (0.20 per cent), respectively, as a percentage of
their Risk Weighted Assets (RWAs).
• For ICICI Bank, the additional CET 1 requirement continues at 0.20%.
• SBI, HDFC Bank and ICICI Bank continue to be identified as D-SIBs.
• Within the CRAR (capital to risk-weighted assets ratio) of 11.5% for banks, the CET-1 is at 5.5%.
RBI plans to introduce a new category of money changers
• In a move aimed at enhancing the ease of doing business and adapting to the evolving economic
landscape, the Reserve Bank of India (RBI) has proposed the introduction of a new category of
money changers.
• This new category, known as Forex Correspondents (FxCs), would operate through an agency
model, conducting money-changing business on behalf of Category-I and Category-II Authorised
Dealers.
• The existing framework involves the issuance of licences to authorised dealers, which are banks
authorised to engage in foreign exchange transactions and full-fledged money changers.
• The proposed category of Forex Correspondents seeks to streamline and simplify the licensing
framework for Authorised Persons (APs) under the Foreign Exchange Management Act, 1999
(FEMA).
.
About RBI :
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi
Sankar
White-Label ATM Expansion Propels 3.5% Growth in Total ATMs for 2022-23
• During 2022-23, the total number of Automated Teller Machines (ATMs) (on-site and off-site)
grew by 3.5%, primarily driven by an increase in the number of white-label.
• Among the ATMs operated by SCBs at end-March 2023, the share of PSBs and PVBs was 63%
and 35%, respectively, according to the Reserve Bank of India's Trends and Progress in Banking
report.
• Public Sector Banks (PSBs) continue to dominate the ATM landscape, with a notable increase
from 75,653 in 2022 to 78,777 in 2023 for on-site ATMs.
• The total number of PSB ATMs, combining on-site and off-site, stands at 1,38,423, highlighting
their crucial role in providing widespread banking access.
Indian Overseas Bank Introduces Savings Account Portability online scheme

• Public sector bank Indian Overseas Bank (IOB) has introduced ‘Savings Account Portability
Online’, a scheme that is aimed at offering an easier savings account portability process for
customers who move to different locations.
• For individuals, who have to shift from one location to another due to career shifts, educational
pursuits, or various life transitions, the new scheme will help avoid the cumbersome process of
relocating bank accounts.
• With the new online scheme, customers don’t have to fill out those endless forms and wait for
days and weeks for the account transfer to materialise.
• To initiate an account transfer, customers need to log in to the IOB website (www.iob.in) and
access the ‘Transfer of Savings Accounts’ section.
About IOB :
• Founded : 10 February 1937
• Headquarters : Chennai, Tamil Nadu
• Managing Director & CEO : Ajay Kumar Srivastava
.
Karnataka Bank facilitates direct tax payments for customers

• Customers of Karnataka Bank can make direct tax payments through two channels - by visiting
any branch of the bank or utilizing the internet banking services.
• Karnataka Bank has enhanced its service portfolio by enabling users to pay various direct taxes,
including income taxes and advance taxes.
• Online Payment for Indirect Taxes : In addition to direct taxes, Karnataka Bank had already been
facilitating online payments for goods and services taxes, as well as customs duties.
• Both the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and
Customs (CBIC) have given their approval for Karnataka Bank to collect both direct and indirect
taxes.
About Karnataka Bank :
• Headquarters : Mangalore, Karnataka
• MD & CEO : Srikrishnan Hari Hara Sarma
• Tagline : Your Family Bank Across India
• Karnataka Bank is a Scheduled Commercial Bank.
RBI permits ICICI Pru Mutual Fund to acquire 9.95% stake in Karur Vysya Bank
• Karur Vysya Bank (KVB) announces that the Reserve Bank of India (RBI) has given approval to
ICICI Prudential Asset Management Company Ltd (ICICI AMC) for acquiring an aggregate
holding of up to 9.95% of the paid-up share capital or voting rights of The Karur Vysya Bank Ltd.
• The approval is in reference to the application submitted by ICICI AMC to the RBI.
• The approval granted by the RBI is subject to compliance with relevant provisions of the Banking
Regulation Act, 1949.
• It also adheres to RBI's Master Direction and Guidelines on Acquisition and Holding of Shares or
Voting Rights in Banking Companies dated January 16, 2023.
About KVB :
• Founded : 1916
• Headquarters : Karur, Tamil Nadu, India.
• MD & CEO : Mr. Ramesh Babu
• Karur Vysya Bank is a Scheduled Commercial Bank
.
RBI permits ICICI Pru Mutual Fund to acquire 10% stake in Federal, RBL Bank
• Federal Bank stated that the Reserve Bank of India (RBI) has accorded approval to ICICI
Prudential Asset Management Company Limited (ICICI AMC) for acquiring up to 9.95 per cent
stake in the bank.
• The approval granted by the Reserve Bank of India (RBI) is subject to the compliance with the
relevant provisions of the Banking Regulation Act, 1949, RBI's Master Direction and Guidelines on
Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023.
• Meanwhile, RBI also accorded approval to ICICI AMC to acquire 9.95 per cent stake in RBL Bank
and Equitas Small Finance Bank.
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
About RBL Bank :
• Founded : August 1943
• MD & CEO : R. Subramania kumar
About Equitas Small Finance Bank :
• Founded : 2007
• MD & CEO : Vasudevan P N
RBI Directs Banks to Conduct Annual Review of Accounts Inoperative for Over a Year
● The Reserve Bank of India (RBI) has asked banks to annually review accounts that have not
seen customer-induced transactions for over a year, and term deposit accounts where there is no
explicit renewal mandate and the funds have not been withdrawn after maturity.
● Penalty Waiver for Inoperative Accounts : It also barred banks from levying penal charges for
non-maintenance of minimum balance in any account classified as inoperative or for activation of
inoperative accounts.
● The instructions are part of fresh guidelines for inoperative accounts and unclaimed deposits to
reduce the quantum of unclaimed deposits and frauds and improve grievance redressal.
About RBI :
.

Sankar
Small Finance Banks Launch "Small Banks: Empowering Big Dreams" Initiative
● While each small finance bank (SFB) has a different tagline to capture customers’ attention, they
will also have a common one-“Small Banks: Empowering Big Dreams” to highlight the success of
their business model to all stakeholders.
● Uma Shankar Paliwal, CEO, Association of Small Finance Banks of India (ASFBI), observed that
over the last 7 years, SFBs have given a good account of themselves, fulfilling the purpose, of
meeting the financial needs of the marginalised sections of society for which they were allowed to
be set up by RBI.
● As of March-end 2023, high-cost term deposits constituted about 68 per cent of SFBs’ total
deposits of ₹1,91,372 crore.
● The balance of 32 per cent were CASA deposits.
● In its latest “Report on Trend and Progress of Banking in India”, RBI noted that SFBs serve a
critical role in delivering credit to under-banked segments.
RBI Broadens Coverage of Card-on-file Tokenization to Include Banks Issuing Debit Cards
● In order to make digital payments more secure, safe and sound the Reserve Bank of India (RBI)
has now enabled card-on-file tokenization (CoFT) through card-issuing banks and institutions.
● Tokenization refers to the replacement of actual credit and debit card details with an alternate
code called the “token”.
● It is a combination of card, token requestor and device.
● The card detail when stored with a merchant is known as card-on-file (CoF).
● This token is a randomly generated string of characters that has no intrinsic value and is
meaningless outside of the context of a specific transaction.
● The token is used as a surrogate for the actual card details, making it more secure to store and
transmit.
Muthoot FinCorp Secures ₹200 Crore through Private Placement of NCDs from SBI
.
● Muthoot FinCorp, the flagship company of Muthoot Pappachan Group (Muthoot Blue), has
announced ₹200 crore investment by State Bank of India (SBI) in the non-convertible debentures
(NCDs) under private placement with a face value of ₹1 lakh for each NCD.
● The maturity/tenure options of this issue is 5 years with half yearly being the frequency of the
interest payment.
● The secured issued NCDs is rated as AA-/stable by CRISIL and listed on the debt market
segment of BSE.
● CEO of Muthoot FinCorp : Shaji Varghese
RBI Increases Bulk Deposit Limit for Large Urban Cooperative Banks 6.66 Times to ₹1 Crore and
Above
● The Reserve Bank of India (RBI) has decided to increase the bulk deposit limit for large urban
co-operative banks (UCBs).
● The earlier limit was ₹15 lakh and above.
● The new bulk deposit limit is ₹1 crore and above.
● Applicability to Tier 3 and Tier 4 UCBs : The new bulk deposit limit of ₹1 crore and above is
applicable to UCBs in Tier 3 (with deposits more than ₹1,000 crore and up to ₹10,000 crore)
category.
● It is also applicable to UCBs in Tier 4 (with deposits more than ₹10,000 crore) category.
● Exception for Other UCBs : According to RBI, all other UCBs (other than scheduled UCBs in
Tiers 3 and 4) will continue to have a bulk deposit limit as “single rupee term deposits of ₹15 lakh
and above.”
● Earlier, customers could negotiate the rate of interest since a deposit of ₹15 lakh and above was
taken as a bulk deposit by all UCBs till now.
Reserve Bank of India plans to tighten dividend declaration criteria for banks
• The Reserve Bank of India (RBI) has proposed new rules of dividend payout for domestic and
overseas banks operating in India.
• The proposed rules for dividend payout by banks will be effective from the fiscal year 2024-25
onwards.
• The RBI has invited public feedback on the proposed rules, and the deadline for submission is 31
January 2024.
.
• Dividend Declaration Criteria : Banks with an NNPA (Net Non-Performing Asset) ratio exceeding
6% and a Capital Adequacy Ratio (CAR) below 11.5% are prohibited from declaring dividends.
About RBI :
India's FY24 GDP Growth Expected to Surpass Earlier Projection of 6.5% - Finance Ministry
• According to the Finance Ministry, India’s FY24 Gross Domestic Product (GDP) growth rate is
expected to exceed its earlier forecast of 6.5%.
• The GDP growth rate is expected to comfortably exceed the Finance Ministry’s earlier forecast
after Q2 GDP growth performance at 7.6%.
• India’s GDP already grew 7.7% in the first half of this fiscal.
• Union Budget 2023-24 had mentioned a nominal GDP of 10.5% for current fiscal.
• According to JP Morgan, India is expected to become the world's 3rd largest economy by 2027.
• It expects the Indian economy to hit $7 trillion by 2030.
RBI Implements Measures to Safeguard Individual Investors from Losses in Case of Issuer Default on
Short-Term Financial Instruments
• The Reserve Bank of India (RBI) has taken this step to make sure that individual investors’ losses
are minimised if issuers default on short-term financial instruments.
• These Directions shall come into force with effect from April 01, 2024.
• Individual Investor Limits : Individual investors' investment in short-term Commercial Papers (CPs)
and Non-Convertible Debentures (NCDs) is now capped at 25% of the issue size.
• Previously, there were no specific limits for individual investors' investments in such instruments.
About RBI :
Paytm Enters Partnership with Ayodhya Nagar Nigam to Facilitate Mobile Payments Across the City
.
• One97 Communications which owns the brand Paytm signed a memorandum of understanding
(MoU) with Ayodhya Nagar Nigam, to enable Nagar Nigam facilities with mobile payments using
Paytm pioneered QR code, Soundbox and card machines.
• This is aimed at providing seamless mobile payment services during the inauguration of the Ram
Mandir in the city.
• With this, the company will enable mobile payments at various departments in collaboration with
Ayodhya Nagar Nigam.
About Paytm :
• Headquarters : Noida, Uttar Pradesh, India
• Founder & CEO : Vijay Shekhar Sharma
Finance Ministry Greenlights an Additional Rs 1,500 Crore for FAME-II Scheme

• The Union Finance Ministry has approved an additional Rs 1,500 crore for the second phase of the
Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program.
• The decision to allocate additional funds was made to address concerns that the existing budget
might be exhausted before the scheme concludes in March 2024, given the robust sales of electric
vehicles (EVs).
• Proposal Approval : A proposal to increase the FAME-II outlay from Rs 10,000 crore to Rs 11,500
crore was approved by the department of expenditure (DoE) on January 2, 2024.
• Utilization of Funds : Until December 26, the government had utilized Rs 8,948 crore of the Rs
10,000 crore allocated funds under the FAME-II scheme.
• Minister of State : Bhagwat Karad, Pankaj Choudhary
RBI gives clarity to 'politically exposed persons' term to meet FATF norms
• The Reserve Bank of India (RBI) updated Know Your Customer (KYC) norms for politically
exposed persons (PEPs) who transact with regulated entities (REs), seeking to comply with the
recommendations of the Financial Action Task Force (FATF)
• In the amended KYC master direction, the central bank defines PEPs as individuals who have
held or are currently entrusted with prominent public functions by a foreign country.
.
• This includes heads of states/governments, senior politicians, senior government or judicial or

military officers, senior executives of state-owned corporations, and important political party
officials
• Establishing Relationship with PEPs : Regulated entities (REs) have the option to establish
relationships with PEPs, either as customers or beneficial owners.
About FATF :
• Headquarters: Paris, France
• FATF is an inter-governmental policy-making and standard-setting body dedicated to combating
money laundering and terrorist financing
• In 2001 its mandate expanded to include terrorism financing.
• FATF members include 39 countries, including the United States, India, China, Saudi Arabia,
Britain, Germany, France, and the EU as such.
• India became a member of FATF in 2010.
• FATF has 2 types of lists:
• Black List: Countries known as Non-Cooperative Countries or Territories (NCCTs) are put on the
blacklist.
• These countries support terror funding and money laundering.
• Three countries North Korea, Iran, and Myanmar are currently on FATF’s blacklist.
• Grey List: Countries that are considered a safe haven for supporting terror funding and money
laundering are put on the FATF grey list.
• This inclusion serves as a warning to the country that it may enter the blacklist.
About RBI :
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar.
LIC Plans to Acquire Up to 10% Equity Stake in NHB-Promoted 'RMBS' Entity
• Insurance behemoth Life Insurance Corporation of India (LIC) is planning to acquire up to 10
percent equity stake in a company promoted by the National Housing Bank (NHB).
.
• According to a regulatory filing by LIC with the stock exchanges., the Board of Directors of LIC on
Monday gave their approval to the proposal to invest in the NHB promoted entity that would focus
on residential mortgage-backed securities (RMBS).
• RMBS are basically debt-based assets backed by the interest paid on residential loans.
• RMBS are bonds which are secured against a large pool of residential mortgages (home loans).
About National Housing Bank :
• Managing Director : Sarada Kumar Hota
• NHB supervises HFCs, while regulation of HFCs is with the RBI.
• National Housing Bank (NHB), is the apex regulatory body for overall regulation and licensing of
housing finance companies in India.
• It is under the jurisdiction of the Ministry of Finance , Government of India.
• It was set up on 9 July 1988 under the National Housing Bank Act, 1987.
• NHB RESIDEX: It is the country’s first official housing price index (HPI).
• It captures movements in the prices of residential real estate prices.
About LIC :
• Chairman : Siddharth Mohanty
• Current MDs : Ipe Mini, M Jagannath, Tablesh Panday, Sat Pal Bhanoo
Mutual Fund Assets in India Exceed Rs 50 Trillion Mark for the First Time, Reaching Rs 50.77 Trillion in
December 2023 - Amfi Data
• India’s mutual fund assets crossed the Rs 50-trillion mark for the first time in December 2023,
hitting RS 50.77 trillion, data from the Association of Mutual Funds in India (Amfi) showed
• Inflows into systematic investment plans (SIPs) touched another new high of RS 17,611 crore in
December, 2023. The number of SIP accounts also hit a high of 76.36 million.
• Small-cap funds accounted for most of the investments for the 15th straight month at 38.57 billion
rupees, more than one-fifth of the overall equity mutual fund inflows.
About Association of Mutual Funds in India :
• Founded : 22 August 1995
.
• CEO : Chalasani Venkat Nageswar

• Chairman : Navneet Munot
Fino Payments Bank applies for SFB license after board's agreement
• During the quarter ended December 31, 2023, the Reserve Bank of India has received one
application under the Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private
Sector dated December 05, 2019 from Fino Payments Bank Limited.
• Conversion Guidelines for Payments Banks : According to the guidelines, payments banks were
allowed to apply for a conversion into SFB post five years of operations along with meeting other
guidelines mandated by the RBI.
• Minimum Capital Requirements : The bank must also have a minimum paid-up voting equity
capital or net worth of Rs 200 crore.
About SFBs :
• Small Finance Banks (SFBs) are specialised banks that are licensed by Reserve Bank of India
(RBI) to provide financial services and products to low-income individuals and underserved
communities, including microfinance and micro-enterprise services, as well as other basic
banking services.
• The small finance bank shall be registered as a public limited company under the Companies
Act, 2013.
• They are required to maintain a minimum Capital to Risk-Weighted Assets Ratio (CRAR) of 15%.
• They are required to extend 75% of their Adjusted Net Bank Credit to Priority Sector Lending.
• SFBs are required to open at least 25% of their total branches in unbanked rural areas.
• The minimum paid-up voting equity capital for small finance banks shall be Rs.200 crore.
• SFBs are required to maintain at least 50% of their loan portfolio as microfinance and advances
of up to Rs. 25,00,000.
• Headquarters : Navi Mumbai, Maharashtra
• MD & CEO : Rishi Gupta
Bank of Baroda’s e-Bank Guarantee issuance for trade finance crosses 1,000 mark
• Bank of Baroda (BoB) has crossed the milestone of issuing 1,000 electronic Bank Guarantees (e-
BGs) for trade finance on the National E-Governance Services Ltd (NeSL) platform within eight
months of the launch of e-BGs.
.
• e-BG replaces the traditional paper-based process for trade finance and results in substantial
reduction in the turnaround time in issuing a BG, while at the same time bringing in enhanced
security, transparency, and accessibility.
• In an e-BG, physical stamping is replaced with e-stamping by NeSL.
About National E-Governance Services Ltd :
• MD & CEO : Debajyoti Ray Chaudhuri
• NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy
Board of India under the aegis of the Insolvency and Bankruptcy Code, 2016.
• It offers a platform for the issuance of inland BGs through electronic mode.
About BoB :
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India's International Bank
Narayana Health gets IRDAI nod to launch health insurance business

• Narayana Health has received approval from the Insurance Regulatory and Development
Authority of India (IRDAI) to venture into the health insurance business in India.
• The company operates one of the largest hospital chains, known by the brand name Narayana
Hospital.
• With this approval, the count of Standalone Health Insurance Companies (SAHI) will increase
from 5 to 6.
• This marks the fifth registration granted by IRDAI in approximately one year, encompassing Life,
Non-life, and Health segments.
About IRDAI :
• Headquarters : Hyderabad, Telangana
• Chairman : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF) ,Government
.
SEBI Modifies Framework for Online Bond Platform Providers to Enhance Ease of Doing Business
• The Securities and Exchange Board of India (SEBI) has made adjustments to the regulatory
framework for Online Bond Platform Providers (OBPPs) to improve the ease of doing business.
• SEBI made these changes in response to representations from stock exchanges and market
participants, including online bond platforms.
Key Highlights :
• Modifications in Framework : Under this, the regulator has modified the framework pertaining to
the issue of order receipt, deal sheet and quote receipt in case of products, securities or services.
• Electronic Order Receipt : On placement of an order by an investor, SEBI Stated that OBPPs will
have to issue without delay an electronic order receipt which includes the date and time of the
order, details of counter-parties involved, quantity and amount proposed to be transacted.
• Products Offered by OBPPs : An entity serving as an Online Bond Platform Provider can offer
specific products, securities, or services on its platform. These include :
• Listed debt securities, municipal debt securities, and securitized debt instruments.
• Debt securities, municipal debt securities, and securitized debt instruments proposed to be listed
through a public offering.
• Listed Government Securities, State Development Loans, and Treasury Bills.
• Listed Sovereign Gold Bonds.
• Other products, securities, or services regulated by financial sector regulators such as SEBI, RBI,
IRDAI, or PFRDA.
• Registration Requirement : OBPPs must register themselves as stockbrokers in the debt
segment of the stock exchange under the new rules.
• Role of OBPPs : Online Bond Platform Providers serve as a channel for investors, especially
non-institutional investors, to access the bond market.
About SEBI :
.
SEBI Relaxes Guidelines for Settlement of Running Accounts

• The Securities and Exchange Board of India (SEBI) has relaxed guidelines for the settlement of
running accounts of clients' funds or securities held with stockbrokers.
• Stockbrokers are now allowed to settle the running account of clients' funds on the first Friday or
Saturday of each quarter or month.
• The new framework will be applicable from the quarterly settlement of January-March 2024 and
monthly settlement of January 2024, the Securities and Exchange Board of India (SEBI).
Implementation of New Alternate Investment Funds Regulations Mandates Compulsory Custodian
Appointments and Dematerialization of Investments
• Capital market regulator, the Securities and Exchange Board of India (SEBI) Board’s November
2023 decision to extend the requirement of mandatory appointment of custodians has become
effective.
• Extension of Custodian Requirement : In November 2023, mandatory appointment of custodians
by Alternate Investment Funds (AIFs) was extended to schemes with corpus less than or equal to
₹500 crore.
• Previous Norms : Till now, this mandatory Custodian appointment norm applied to Category III
AIFs and to Category I and II AIFs with corpus more than ₹500 crore.
• It now extends to all AIFs.
About SEBI :
Tata Pay Secures Payment Aggregator License from RBI
• The Reserve Bank of India (RBI) has granted a payment aggregator (PA) licence to Tata
Payments, Tata group’s digital payments app.
• Tata Payments, held through Tata Digital, aims to facilitate e-commerce transactions through its
platform.
• Tata Payments operates under Tata Digital, the subsidiary entity of the Tata Group dedicated to its
digital businesses.
.
• Industry Players : Tata Pay joins other prominent players like Razorpay, Cashfree, and Google
Pay in obtaining the coveted payment aggregator license.
• Transaction Management : With the PA license, Tata can manage and power all e-commerce
transactions within its subsidiary entities, leading to more efficient fund management.
RBI Introduces Stricter Regulations for Short-Term Commercial Papers and Non-Convertible
Debentures
• The Reserve Bank of India (RBI) has tightened rules for the issuance of short term Commercial
Papers (CPs) and Non-Convertible Debentures (NCDs), with an initial maturity of up to one year.
• The new norms are effective from April 1, 2024, and include six key changes.
• Commercial Paper (CP): An unsecured money market instrument issued in the form of a
promissory note.
• Non-Convertible Debentures (NCDs): A secured money market instrument with an original or initial
maturity up to one year.
About RBI :
• Deputy governors : Swaminathan Janakiraman, M. Rajeshwar Rao, Michael Patra and T. Rabi
Shankar
AIIB to Spearhead INR 2,500 Crore Funding in Mahindra-OTPP's Green Infrastructure Investment Trust
(InvIT)
• Sustainable Energy Infra Trust, a renewable energy infrastructure investment trust (InvIT) backed
by Mahindra group, is raising Rs 2,500 crore in a round led by Asian Infrastructure Investment
Bank (AIIB) with participation from domestic institutional investors (DIIs).
• The funding, spearheaded by AIIB, signifies a significant step towards financing green initiatives
and sustainable urban development.
About AIIB :
• Founded : 16 January 2016,
• Headquarters: Beijing, China
• President : Jin Liqun
.
• Membership : 109 member states

• The Asian Infrastructure Investment Bank is a multilateral development bank and international
financial institution that aims to collectively improve economic and social outcomes in Asia.
• It is the world's second largest multi-lateral development institution.
LEO1 and NSDL Payments Bank introduce a prepaid identification card for students and educational
institutions
• Edu-fintech startup LEO1, in collaboration with NSDL Payments Bank and with MasterCard as
network partner, launched India’s first numberless Prepaid ID card for students and educational
institutions.
• As per the fintech startup the prepaid student card is designed with an aim to provide educational
institutes and students with a streamlined and cost-effective payment solution
• The prepaid card will help digitise the financial ecosystem in educational institutes across India and
create cash-free campuses.
About LEO1 :
• Founder & Managing Director : Rohit Gajbhiye
India's forex reserves rise to the highest level in 21 months

• India's foreign exchange (forex) reserves have reached the highest level in the last 21 months.
• Foreign exchange (forex) reserves increased $2.759 billion to $623.20 billion in the week ended
December 29, 2023.
• The rise in reserves was primarily attributed to increases in Foreign Currency Assets (FCA) and
gold holdings.
• Foreign currency assets (FCA) saw an increase of $1.869 billion, while gold holdings increased
by $853 million during the specified week.
United States International Development Finance Corporation and India’s National Infrastructure
Investment Fund Collaborate to Establish $1 Billion Fund for Financing Renewable Energy Projects
● The United States International Development Finance Corporation (USIDFC) and India’s
National Infrastructure Investment Fund (NIIF) are “working on the possibility of creating a
.
fund” that would invest in renewable energy and green projects in India.
● The idea is to create a fund with the USIDFC and NIIF bringing in $500 million each and
getting more from other investors.
● NIIF is a “collaborative investment platform” for international and Indian investors, anchored by
the Government of India, which manages funds with investments in different asset classes
and diversified sectors that generate attractive risk-adjusted returns.
● NIIF manages over $44.9 billion of equity capital commitments across its 4 funds – Master
Fund, Private Markets Fund, Strategic Opportunities Fund, and India-Japan Fund.
● USIDFC has an exposure of $4 billion in India, which is 10 percent of its global exposure.
About National Investment and Infrastructure Fund (NIIF) :
● NIIF is India’s first sovereign wealth fund set up by the Government of India in 2015.
● It is an investor-owned fund manager, anchored by the Government of India (GoI) in
collaboration with leading global and domestic institutional investors.
● NIIF’s mandate includes investing in areas such as energy, transportation, housing, water,
waste management and other infrastructure-related sectors in India.
Functioning :
● It is being operationalized by establishing three Alternative Investment Funds (AIFs) under
the SEBI Regulations.
● The proposed corpus of NIIF is 40,000 Crores funded 49% from Government of India.
● Rest from strategic anchor partners (Overseas sovereign/quasi-sovereign/multilateral/bilateral
investors).
NIIF and Three Funds :
● NIIF currently manages three funds each with its distinctive investment mandate.
1. Master Fund: A fund focused on creating scalable sectoral platforms in core infrastructure and
in collaboration with strong and reputed operating and financial partners.
2. Fund of Funds: A fund focused on anchoring and investing incredible and reputed third-party
managers with a strong track record across diversified sectors within infrastructure services
and allied sectors.
3. Strategic Investment Fund: A fund focused on investing in strategic assets and projects with
longer-term horizons across various stages of development.
About USIDFC :
● Founded : December 20, 2019
.

● CEO : Scott Nathan
● The USIDFC is a development finance institution and agency of the United States federal
government.
Direct Tax Collections at ₹14.70 Lakh Crore Reach 81% of Budget Estimates for FY24
● Net direct tax collections have reached approximately 81% of the Budget Estimate during the
period from April 1 to January 10 in the current fiscal year.
Key Highlights :
● The current trend suggests that direct tax collections may surpass the Budget target by an
estimated ₹80,000-90,000 crore.
● The Budget target for direct tax collections in the current fiscal year is ₹18.23 lakh crore.
● Corporate income tax (CIT) and personal income tax (PIT) are included in Direct Taxes.
● According to the Central Board of Direct Taxes (CBDT), direct tax collection, net of
refunds, stands at ₹14.70-lakh crore.
● This collection is 19.4% more than the net collections for the corresponding period of last year.
Definition of Direct Tax :
● A direct tax is a tax that a person or organization pays directly to the entity that imposed it.
● Examples include income tax, real property tax, personal property tax, and taxes on assets, all
of which are paid by an individual taxpayer directly to the government.
World Bank keeps India’s FY25 GDP growth estimate unchanged at 6.4%
● The World Bank has maintained its economic growth projection for India in the fiscal year
2024-25 at 6.4 percent.
Key Highlights :
● Basis of Unchanged Projection : The unchanged projection is attributed to factors such as
strong domestic demand, increased public infrastructure spending, and robust growth in
private-sector credit.
● Concerns about Private Consumption Growth : The World Bank anticipates a potential
tapering off in private consumption growth for India.
● This is attributed to factors like high food inflation and diminishing pent-up demand.
● India’s Growth Rate Ranking : In its biannual ‘Global Economic Prospects’ report, the World
Bank said India was likely to maintain the fastest growth rate among the world’s largest
economies, but its post-pandemic recovery was expected to slow, with estimated growth of
.
6.3 per cent in FY24, before recovering gradually to 6.5 per cent in FY26.
● World Economy Growth Forecast : The Washington-based organisation forecast that the
world economy will expand 2.4 per cent this year.
● Non-Inclusion of NSO’s First Advance Estimates : The World Bank’s forecast for India does
not take into account the National Statistical Office’s (NSO) first advance estimates.NSO’s
estimates had projected a higher growth rate of 7.3 percent for India in FY24.
● Comparison with RBI’s Estimate : The NSO’s projection is higher than the Reserve Bank of
India’s (RBI) estimate of 7 percent, assuming an investment-led recovery.
About World Bank :
Reserve Bank of India imposes monetary penalty on Punjab and Sind Bank
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1 crore on Punjab and
Sind Bank for non-compliance with certain directions issued by RBI on ‘Loans and Advances –
Statutory and Other Restrictions’.
● This penalty has been imposed in the exercise of powers vested in RBI conferred under the
provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51(1) of the Banking
Regulation Act, 1949.
● This action is based on deficiencies in regulatory compliance and is not intended to pronounce
upon the validity of any transaction or agreement entered into by the bank with its customers.
● The Statutory Inspection for Supervisory Evaluation (lSE 2022) of the bank was conducted by
RBI with reference to its financial position as of March 31, 2022.
About Punjab & Sind Bank :
● Founded : 24 June 1908
● Headquarters : New Delhi.
● MD & CEO : Swarup Kumar Saha
Karnataka Bank Collaborates with Clix Capital on Co-Lending Partnership via Yubi Platform
● Karnataka Bank, a leading private sector bank, and Clix Capital, one of India’s fastest-
.
growing new-age NBFCs, have entered into a digital co-lending partnership through the Yubi
Co.lend Platform.
What is a Co-Lending Partnership?
● A Co-Lending Partnership, also known as co-lending or co-origination, refers to a collaborative
arrangement between two financial institutions, typically a bank and a non-banking financial
company (NBFC) or another lending institution.
● In this partnership, both entities join forces to extend loans to borrowers, sharing the risks and
rewards associated with the lending process.
Key Highlights :
● Focus on MSME Sector: The collaboration is specifically targeted at providing loans to
the Indian Micro, Small, and Medium Enterprises (MSME) sector, a significant contributor to
India’s GDP and employment growth.
● Compliance with RBI Guidelines: The agreement aligns with the guidelines set by the Reserve
Bank of India (RBI) on co-lending by banks and Non-Banking Financial Companies (NBFCs)
to priority sectors, emphasizing the commitment to regulatory compliance.
● Utilization of Strengths: The partnership leverages Karnataka Bank’s advantages, including
low-cost funds and end-to-end digital capabilities, coupled with Clix Capital’s robust lending
technology platform and effective due diligence processes.
● Seamless Financing Solutions: The overarching goal of the collaboration is to offer seamless
financing solutions in a digital manner, combining the strengths of both partners.
● This includes providing convenient and cost-effective credit facilities to the MSME segment.
● Digital Approach: The partnership emphasizes an end-to-end digital approach to streamline
the lending process, reflecting a commitment to modern technology for financial solutions.
● Mutual Benefit: By drawing upon each other’s strengths, both Karnataka Bank and Clix Capital
aim to serve the unserved segments effectively, contributing to financial inclusion.
● Founded : 18 February 1924
● Headquarters : Mangalore, Karnataka, India
● MD & CEO : Srikrishnan Hari Hara Sarma
● Tagline : Your Family Bank Across India
About Clix Capital :
● CEO : Rakesh Kaul
.
Dhanlaxmi Bank Limited faces ₹120.47 Lakh Monetary Penalty from Reserve Bank of India for
Violations in Loans, Know Your Customer and Deposit Interest Rate Regulations
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹120.47 lakh on
Dhanlaxmi Bank Ltd.for non-compliance with certain directions issued by RBI on ‘Loans and
Advances – Statutory and Other Restrictions’, ‘Reserve Bank of lndia (Know Your Customer
(KYC)) Directions, 2016’ and ‘Reserve Bank of lndia (Interest Rate on Deposits) Directions,
2016’.
● This penalty has been imposed in exercise of powers vested in RBI conferred under the
provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
● This action is based on the deficiencies in regulatory compliance and is not intended to
pronounce upon the validity of any transaction or agreement entered into by the bank with its
customers.
About Dhanlaxmi Bank Ltd :
● Founded : 14 November 1927
● Headquarters : Thrissur, Kerala
● MD & CEO : J. K. Shivan
ESAF Small Finance Bank Limited Slapped with ₹29.55 Lakh Monetary Penalty by Reserve Bank of
India for Violating Customer Service Regulations
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹29.55 Lakh on ESAF
Small Finance Bank Limited for non-compliance with the directions issued by RBI
on ‘Customer Service in Banks’.
● This penalty has been imposed in exercise of powers vested in RBI under the provisions of
Section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.
● This action is based on the deficiencies in regulatory compliance and is not intended to
pronounce upon the validity of any transaction or agreement entered into by the bank with its
customers.
About ESAF Small Finance Bank :
● Founded : 10 March 2017
● Headquarters : Thrissur, Kerala.
● MD & CEO : K. Paul Thomas
Karnataka Bank and Digivriddhi collaborate to provide financial services to dairy farmers and milk
societies
.
● Karnataka Bank has partnered with fintech company Digivriddhi (DGV) to offer financial
services catering to the needs of dairy farmers and milk societies.
● The services will be made available at village dairy co-operative societies associated with milk
unions of Karnataka Milk Federation (KMF).
● To begin with, the services are now made available to milk societies associated
with Chamarajnagar Milk Union.
Key Highlights :
● This partnership with DGV will provide seamless and innovative end-to-end digital product
offerings to the dairy farmers and provide access to institutional credit, while easing and
digitizing payments across the dairy value chain.”
● ‘DGV Pay’ product simplifies the payments value chain for dairy farmers and micro-enterprises
helping with their basic banking needs, including opening of bank accounts.
● ‘DGV Money’ product is built with a unique underwriting mechanism that facilitates digital
working capital and bovine loans to farmers
About Digivriddhi :
● Headquarters : Bangalore, Ka
● MD & CEO : Ragavan Venkatesan
● DGV is India’s first integrated dairy fintech and marketplace platform.
State Bank of India and Rural Development Ministry Collaborate to Streamline Loan Access for Self-
Help Groups
● The Rural Development Ministry and State Bank of India (SBI) signed a memorandum of
understanding (MoU) to facilitate enterprise financing for rural self-help groups (SHG).
● The MoU was signed by Additional Secretary Deendayal Antyodaya Yojana – National Rural
Livelihoods Mission, Charanjit Singh and Chief General Manager, State Bank of India,
Corporate office Mumbai, Shantanu Pendsey.
Key Highlights :
● Specialized Financial Product – Svyam Siddha: State Bank of India introduced a specialised
financial product Svyam Siddha, exclusively tailored for SHG women entrepreneurs seeking
loans up to Rs 5 lakhs.
● This initiative is designed to alleviate the challenges associated with extensive documentation
requirements for bank loan applications and reduce the turnaround time (TAT).
.
● Simplified Application Process : It does away with the requirement of burdensome documents
like quotations and detailed project reports (DPRs), allowing an easy application process
where a simple loan application with KYC details can be submitted at local SBI bank
branches.
● Facilitation by DAY-NRLM: The Deendayal Antyodaya Yojana – National Rural Livelihoods
Mission (DAY-NRLM) will facilitate the loan application process and supervise loan repayment
through its dedicated field cadre.
● Training Toolkit Package Launch: A training toolkit package was launched to promote formal
finance access for SHG women entrepreneurs.
● Developed in collaboration with the International Finance Corporation (IFC) under the World
Bank-funded National Rural Economic Transformation Project (NRETP), the toolkit aims to
enhance State Rural Livelihoods Missions’ capacities for facilitating increased access to
formal finance by SHG members.
About SBI :
About Ministry of Rural Development :
● Union Minister : Giriraj Singh
● Minister of State : Sadhvi Niranjan Jyoti, Faggan Singh Kulaste
ICICI Prudential Life Insurance Launches ICICI Pru Guaranteed Pension Plan Flexi Featuring ‘Benefit
Enhancer
● ICICI Prudential Life Insurance has launched ICICI Prudential Guaranteed Pension Plan Flexi
with Benefit Enhancer.
Key Highlights :
● Innovative Annuity Plan with Premium Refund Option : This product is being billed as
the industry’s first annuity plan that provides customers with the option to receive a 100%
refund of premiums paid at any time starting from the date of purchase.
● Loan Facility for Financial Flexibility : The plan includes a loan facility to assist customers in
managing unexpected financial obligations, allowing them to stay invested in the product and
.
continue working towards their retirement planning goals.

● Alignment with IRDAI Regulations : The product is designed in accordance with proposed
IRDAI regulations, emphasizing fair and appropriate surrender values, especially in cases of
early policy exits.
● Importance of Retirement Planning : Retirement planning is an essential objective, and
unforeseen financial emergencies can jeopardise this goal.
● To assist customers in overcoming unexpected financial obligations, the product offers a loan
facility.
● This allows customers to stay invested in the product and work towards achieving their
retirement planning objectives.
● Importance of Retirement Planning : Retirement planning is an essential objective, and
unforeseen financial emergencies can jeopardise this goal.
● To assist customers in overcoming unexpected financial obligations, the product offers a loan
facility.
● This allows customers to stay invested in the product and work towards achieving their
retirement planning objectives.
● Regulatory Compliance : Notably, this product aligns with the forthcoming regulations, which
seek to guarantee that customers are provided with a fair and suitable surrender value,
especially when opting for an early exit from the policy.
About ICICI Prudential Life Insurance :
● Founded : 2000
● MD & CEO : Anup Bagchi
● Established as a joint venture between ICICI Bank Limited and Prudential Corporation
Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management
business.
● In 2016, the company became the first insurance company in India to be listed in
the domestic stock exchanges.
● Established as a joint venture between ICICI Bank Limited and Prudential Corporation
Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management
business.
● In 2016, the company became the first insurance company in India to be listed in
.
the domestic stock exchanges.

SEBI Renews Recognition for AMC Repo Clearing for 1 Year to Facilitate Transaction Clearing
● Capital markets regulator Securities and Exchange Board of India (SEBI) has renewed its
recognition for AMC Repo Clearing Limited as a clearing corporation for one year, allowing it
to clear and settle transactions in repo and reverse repo in debt securities.
● The renewal period granted by SEBI is from January 17, 2024, to January 16, 2025.
Key Highlights :
● Clearing Corporation Activities : Under the rules, AMC Repo Clearing Ltd will not undertake
any activity except that of clearing and settling of transactions in repo and reverse repo in the
debt securities that are dealt with or traded on a recognised stock exchange.
● SEBI’s Previous Recognition Grant : Earlier, the SEBI granted recognition to such clearing
corporations in January, 2022.
● Introduction of Limited Purpose Clearing Corporation (LPCC) : In October 2020, SEBI
introduced the concept of a Limited Purpose Clearing Corporation (LPCC) for the clearing and
settlement of repo transactions in debt securities.
● Guidelines for Mutual Fund Participation : In February 2021, SEBI issued guidelines
specifying that asset management companies (AMCs) are required to contribute Rs 150
crore as share capital for the establishment of LPCC by mutual funds.
● Objective of LPCC : The decision to allow the mutual fund industry to establish LPCC aimed at
assisting funds in handling redemption pressures and facilitating the settlement of transactions
in the corporate bond market.
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30
January 1992 through the SEBI Act, 1992
● SEBI is the regulatory body for securities and commodity markets in India under the
ownership of the Ministry of Finance, Government of India.
RBI Plans Stricter Regulations for Housing Finance Companies Accepting Deposits
● The Reserve Bank of India (RBI) has proposed a phased transition to tighten
regulations for housing finance companies (HFCs), aligning them more closely with non-
banking financial companies (NBFCs).
.
Key Highlights :
● Uniform Prudential Parameters : 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.
● Increase in Liquid Assets Requirement : As per the draft circular, deposit-taking HFCs are
required to raise their total liquid assets, including unencumbered approved securities, to 15%
of public deposits by the end of March 2025, up from the current 13%.
● Reduction in Public Deposit Ceiling : The ceiling on the 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 1.5 times of net owned funds, per the draft
circular.
● Restrictions on Excess Deposits : HFCs holding deposits beyond the revised limit cannot
accept new public deposits or renew existing ones until the quantum of public deposits is
below the revised limit.
● Existing excess deposits can run off till maturity.
● Shortened Deposit Tenure : The longest time period for which HFCs can accept deposits will
be cut to 60 months from the current 120 months.
● Existing deposits with maturities above 60 months can be repaid as per their existing
repayment profile.
● Existing deposits with maturities above 60 months can be repaid as per their existing
repayment profile.
● The minimum period for which HFCs can accept deposits continues at 12 months.
● Asset Cover and Credit Rating Requirements : Deposit-taking housing finance companies
(HFCs) may have to ensure that full asset cover is available for public deposits accepted by
them at all times and obtain minimum investment grade credit rating at least once a year.
About NBFC Operational Requirements :
● An NBFC is required to open a Constituent’s Subsidiary General Ledger (CSGL) account with
a scheduled commercial bank, or the Stock Holding Corporation of India Ltd. (SHCIL) or a
dematerialized account with a depository through a depository participant.
● The NBFC has to keep the unencumbered approved securities required to be maintained by it
in such a CSGL account or dematerialised account.
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● Further, the NBFC has to designate one of the scheduled commercial banks, in the place
where the registered office of the non-banking financial company is situated, as its designated
banker, entrusting, in physical form, to the bank or SHCIL the unencumbered term deposits
and such unencumbered approved securities which have not been dematerialised.
About RBI :
LIC Overtakes SBI in Market Valuation, Emerges as the Most Valuable Public Sector Undertaking
(PSU) Firm
● Life Insurance Corporation of India (LIC) has surpassed State Bank of India (SBI) to become
the most valued public sector undertaking (PSU) firm in India by market valuation.
Key Highlights :
● Stock Performance : LIC’s shares experienced a 3% surge, reaching a 52-week high of Rs
919.45 on the BSE during intra-day trade.
● However, the stock later declined by 0.63%, closing at Rs 886.90.
● The stock of SBI fell by 1.67 per cent to Rs 626.15 apiece.
● Market Capitalization Comparison : The market capitalization of LIC stood at Rs 5,60,964.05
crore, which is Rs 2,149.47 crore more than SBI’s Rs 5,58,814.58 crore valuation.
● LIC currently holds the 9th position among the top ten most valued firms.
● Reliance Industries is the country’s most valued firm with a market valuation of Rs
18,42,160.54 crore followed by TCS (Rs 14,21,230.44 crore), HDFC Bank (Rs 11,66,888.98
crore), ICICI Bank (Rs 6,87,740.99 crore), Infosys (Rs 6,80,631.89 crore), Bharti Airtel (Rs
6,10,389.59 crore), Hindustan Unilever (Rs 6,02,388.21 crore), ITC (Rs 5,82,423.61 crore),
LIC (Rs 5,60,964.05 crore) and SBI (Rs 5,58,814.58 crore).
● Listing Details : The country’s largest insurer was listed in May 2022.
● The government had sold over 22.13 crore shares, or a 3.5 per cent stake in LIC, through an
Initial Public Offering (IPO).
● The government holds 96.5 per cent stake in the company.
● Share Performance Since Listing : LIC shares were listed at Rs 875.25 apiece on May 17,
2022, compared to the IPO price of Rs 949.
● Currently, the stock is only 6.21% away from its IPO price.
.
● Government Stake in LIC : The government holds a 96.5% stake in the Life Insurance
Corporation (LIC).
About LIC :
● Chairman : Siddharth Mohanty
● Current MDs : Ipe Mini, M Jagannath, Tablesh Panday, Sat Pal Bhanoo
Life Insurance Corporation of India introduces Jeevan Dhara II deferred annuity plan
● Insurance behemoth Life Insurance Corporation of India (LIC) has launched a new non-
participating product, Jeevan Dhara-II.
About Jeevan Dhara-II
● Guaranteed Annuity and Multiple Options : Under the plan, annuity is guaranteed from
inception and as many as 11 annuity options will be available.
● Age-related Annuity Rates and Life Cover : There are higher annuity rates at higher ages and
life cover will be available during the deferment period.
● Eligibility Criteria : The minimum age at entry is 20 years (last birthday) for an
annuitant/primary/secondary annuitant.
● The maximum age is 80, 70, and 65 years minus the deferment period, depending upon the
annuity option chosen.
● Incentives and Additional Features : Incentives include an increase in the annuity rate for high
premium/purchase price and online sales.
● Additional features comprise a top-up annuity and the option to receive a lump-sum amount in
exchange for a reduction in annuity payments.
LIC Jeevan Dhara II Plan Options :
● The plan offers both regular premium and single premium options.
● Annuity choices include single life annuity and joint-life annuity.
● Deferment periods range from 1 year to 15 years (for single premium) and 5 years to 15 years
(for regular premium).
● Mode of annuity payments (yearly, half-yearly, quarterly and monthly).
● Once selected, an annuity option cannot be changed.
About LIC :
.
DBS Bank India Partners with StartupTN to Promote Entrepreneurship in Tamil Nadu
● DBS Bank India has announced a partnership with StartupTN, the nodal agency of the Tamil
Nadu government in fostering innovation and promoting entrepreneurship throughout the
State.
● Aim : To strengthen the ecosystem and drive innovation within the State by providing crucial
support to startups, including knowledge sharing through various forums and facilitating
connections with potential investors.
Key Highlights :
● Impact on Startups : The partnership will impact and engage more than 1,000 Startups in
Tamil Nadu through StartupTN’s eight regional hubs in metros, as well as Tier 2 & Tier 3
cities.
● Networking Opportunities : As part of this collaboration, new-age companies associated with
StartupTN will have an opportunity to connect with DBS Bank India’s network of over 30
accelerators, incubators and ecosystem enablers so that they can gain from being part of a
larger entrepreneurial community.
● Current Status of StartupTN : Currently, StartupTN empowers over 7,400 start ups
registered with the Department for Promotion of Industry and Internal Trade, Government of
India, across 30 sectors with strong growth expectations as the State of Tamil Nadu is aiming
to encourage the creation of more than 10,000 new startups by 2026.
● StartupTN Mission Director and Chief Executive Officer (CEO) : Sivarajah Ramanathan
About DBS Bank India Limited :
● MD & CEO : Surojit Shome
● Tagline :Live More Bank Less
Reserve Bank of India Aligns Urban Cooperative Banks (UCBs) Eligibility Criteria in the Second
Schedule of RBI Act with Revised Regulatory Framework
● The Reserve Bank of India (RBI) has revised the eligibility criteria for the inclusion of urban
cooperative banks (UCBs) in the second schedule of the Reserve Bank of India Act, 1934.
.
● This decision has been taken by the central bank in order to bring urban cooperative banks
under the ambit of the revised regulatory framework.
Key Highlights :
● Capital Requirement for Inclusion : Urban cooperative banks with a minimum Capital to Risk
Weighted Asset Ratio (CRAR) of 3% will be considered for inclusion in the second schedule.
● Additional Criteria – Regulatory and Supervisory Compliance : Apart from that, urban
cooperative banks should also not have major regulatory and supervisory concerns in order to
be eligible for inclusion.
● Eligibility for Licensed Tier 3 and Tier 4 UCBs : Licensed tier 3 and tier 4 primary (urban) co-
operative banks, that are financially sound and well managed, would be eligible, provided they
have adhered to maintenance of minimum deposits required for categorisation as a tier 3
urban co-operative bank for two consecutive years.
What is meant by Urban Co-operative Banks (UCBs)?
● The term Urban Co-operative Banks (UCBs), though not formally defined, refers to primary
cooperative banks located in urban and semi-urban areas.
● These banks, till 1996, were allowed to lend money only for non-agricultural purposes.
● They essentially lend to small borrowers and businesses.
AWARDS AND HONOUR

Chaudhary Charan Singh Haryana Agricultural University's Vice Chancellor Prof B R Kamboj honoured
with M S Swaminathan Award
• Chaudhary Charan Singh Haryana Agricultural University's Vice Chancellor Prof. 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.
• Thawar Chand Gehlot, the Governor of Karnataka, presented him with this award.
• 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.
Ministry of Youth Affairs & Sports announced ‘Rashtriya Khel Protsahan Puruskar’ 2023
• The Ministry of Youth Affairs and Sports announced Rashtriya Khel Protsahan Puruskar 2023.
• Odisha Mining Corporate Limited has been awarded in the category of Encouragement to Sports
through Corporate Social Responsibility.
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• Jain Deemed to be University, Bengaluru has been awarded for identifying and nurturing budding
and young talent.
• The awardees will receive their awards from President Droupadi Murmu at a specially organised
function at Rashtrapati Bhavan on the 9th of this month.
• Rashtriya Khel Protsahan Puruskar is given to corporate entities, Sports Control Boards, NGOs,
including sports bodies at the State and National level, who have played a visible role in the area
of sports promotion and development.
President Awards Sheetal Devi Arjuna Award for Sporting AchievementsX
• India’s best-performing athletes were conferred with the national sports awards by President
Droupadi Murmu in a regal ceremony at Rashtrapati Bhawan where para archer and sports bigwig,
Sheetal Devi from Jammu and Kashmir was also conferred with Arjuna Award.
• Sheetal Devi along with 26 athletes and para-athletes were conferred with the Arjuna Awards in a
colorful ceremony at Rashtrapati Bhawan.
• Sheetal Devi belongs to a remote hamlet Lohi Dhar of mountainous Kishtwar district of Jammu
division.
• Sheetal Devi who won two gold medals in the Hangzhou Asian Games, is the first international
para archer without upper limbs due to a rare condition called Phocomelia.
Former President Kovind to Award Diplomas at IIMC's 55th Convocation
• Former President Ram Nath Kovind will confer Post Graduate Diploma degrees at the 55th
Convocation ceremony of the Indian Institute of Mass Communication (IIMC) in New Delhi.
• The diplomas will be given to students from the 2021-22 and 2022-23 batches from all the six
centres of the Institute.
• A total of sixty-five students will also be awarded different medals for outstanding performances.
• The IIMC is one of India's leading institutions that offers education in the field of media and
communication in nine different courses in six centres across the country.
REC has been awarded the ICAI Award for Excellence in Financial Reporting for the fiscal year 2022-
23.
● REC Limited, a Maharatna Public Sector Unit and a leading NBFC under the Ministry of
Power, has been awarded ‘Plaque’ under the ‘Financial Services Sector (Other than Banking
and Insurance)’ category at the ICAI Awards for Excellence in Financial Reporting for the
financial year 2022-23.
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● This is the only award bestowed by the ICAI under this category and the selection has been
made based on the company’s accounting practices, disclosure policies, presentation of
financial statements, other information contained in the Annual Report and degree of
compliance with Indian Accounting Standards, Statutory guidelines and Regulations.
● Director (Finance), REC, Shri Ajoy Choudhury; Executive Director (Finance), REC, Shri
Sanjay Kumar; and HoD (Finance), REC, Shri Jatin Kumar Nayak received the award from
Chief Minister of Chhattisgarh, Shri Vishnu Deo Sai, at a ceremony held in Raipur.
● Cabinet Ministers of Chhattisgarh, Shri Brij Mohan Agrawal and Shri O. P. Choudhary was
also present, along with ICAI President CA Aniket Sunil Talati, Vice President CA Ranjeet
Kumar Agarwal, Research Committee Chairman & Vice Chairman and the ICAI Council
Members.
● Shri Ajoy Choudhury expressed gratitude for the recognition and highlighted the dedication of
REC Limited’s team in maintaining top-notch financial practices.
● Recently, REC was recognized for its exceptional performance in risk management and
bestowed with the ‘Golden Peacock Award’ by the Institute of Directors (IOD).
● Additionally, the company was conferred the ‘Best Central PSU’ Award in the Financial
Services category at the Dun & Bradstreet PSU Awards 2023.
● The Institute of Chartered Accountants of India through its Research Committee has been
organizing the ICAI Awards for Excellence in Financial Reporting since the year 1958, to
recognize and encourage excellence in the preparation and presentation of financial as well
as non-financial information in annual reports by entities across various sectors.
About REC Limited
● REC Limited is an NBFC focusing on Power Sector Financing and Development across India.
Established in 1969, REC Limited has completed over fifty years of operations.
● It provides financial assistance to state electricity boards, state governments, central and state
power utilities, independent power producers, rural electric cooperatives and private sector
utilities.
Recent News
● In Dec 2023, REC has recently diversified into financing infrastructure and logistics sector as
well. The Loan Book of REC stands at Rs. 4.74 Lakh Crore, ending the first quarter of the
current financial year.
REC has been awarded the SCOPE Excellence Award for Digitalization.
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● REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a
leading NBFC, has been honored with the prestigious Scope Excellence Award in the
category of Special Institutional Category (Digitalization).
● The award acknowledges REC Limited’s unwavering commitment to the digitalization of its
workplace and the promotion of best practices in establishing a paperless office.
● The award was presented by the Vice President of India, Shri Jagdeep Dhankhar, at a
ceremony held at Vigyan Bhawan in New Delhi.
● Director (Finance), Shri Ajoy Choudhury and Executive Director (BDM), Shri Saurabh Rastogi
of REC Limited graciously accepted the award from the Vice President of India at the
ceremony.
● This accomplishment underscores REC Limited’s dedication to embracing technological
advancements and fostering a culture of innovation within the organization.
About SCOPE
● SCOPE was established in 1973 as an apex body of Public Sector Enterprises (PSEs), and is
dedicated to promoting competitiveness and excellence within the PSE sector.
● The SCOPE Excellence Award recognizes and commemorates exemplary performances of
Public Sector Enterprises.
About REC Limited:
● REC is a ‘Maharatna’ CPSE under the Ministry of Power, and is registered with RBI as Non-
Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC
finances the entire Power-Infrastructure sector comprising Generation, Transmission,
Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage,
Pumped Storage projects, Green Hydrogen and Green Ammonia projects.
Delhi and Bengaluru jointly clinch ‘Best Airport’ award
● Bangalore and Delhi airports jointly won the Best Airport award.
● Both airports jointly won the award at the 4th edition of “Wings India Awards” in the Civil
Aviation Sector.
● Union Civil Aviation Minister Jyotiraditya M Scindia presented the Wings India Awards 2024 at
an event organized in Hyderabad.
Winners List
● Vistara won the Best Airline of the Year award.
● Air India has been recognised for International Connectivity.
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● Alliance Air has been recognized for Regional Connectivity.

● Air India Express was declared a Sustainability Champion.
● GMR Group has been honoured as the Best Aviation Service Provider.
● Skyways Air Services has been honoured for cargo services.
● Indian Oil Skytanking Pvt. Ltd has been honoured for Fuel Services and GMR has been
honoured for Aero Academy.
The tableau presented by the Ministry of Culture has won the first prize at the Republic Day Parade of
2024.
• The tableau of the Ministry of Culture has secured the first prize at the Republic Day Parade 2024.
• The tableau, a stunning blend of tradition and innovation, captivated audience s with its masterful
use of the anamorphic technique alongside a rich display of Bharat's cultural heritage - often hailed
as the mother of democracy.
• The Ministry of Culture in a statement said that it takes immense pride in this achievement,
showcasing its commitment to preserving and celebrating the diverse tapestry of India.
• The Ministry added that this victory is not just a recognition of the creativity but a testament to the
richness of Bharat's cultural legacy.
Padma Awards 2024: India's second-highest civilian honour
• The Union government released the list of winners of the Padma Awards 2024, the nation's
second-highest civilian honour.
• The prestigious awards, conferred by the Government of India, recognize exceptional
contributions in various fields.
• These awards are given in three categories: Padma Vibhushan (for exceptional and
distinguished service), Padma Bhushan (distinguished service of higher order) and Padma Shri
(distinguished service).
• The award seeks to recognize achievements in all fields of activities or disciplines where an
element of public service is involved.
• These awards are conferred on the recommendations made by the Padma Awards Committee,
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which is constituted by the Prime Minister every year.

Padma Awardees:
• This year the government decided to honour 5 distinguished individuals with Padma Vibhushan,
17 with Padma Bhushan, and 110 with Padma Shri awards ( total 132) for their exceptional
contributions in various fields.
Padma Vibhushan:
1. Ms. Vyjayantimala Bali: Art | Tamil Nadu
2. Shri Konidela Chiranjeevi: Art | Andhra Pradesh
3. Shri M Venkaiah Naidu: Public Affairs | Andhra Pradesh
4. Shri Bindeshwar Pathak (Posthumous): Social Work | Bihar
5. Ms. Padma Subrahmanyam : Art | Tamil Nadu
Padma Bhushan:
1. Ms. M Fathima Beevi (Posthumous): Public Affairs | Kerala
2. Shri Hormusji N Cama: Literature & Education - Journalism | Maharashtra
3. Shri Mithun Chakraborty: Art | West Bengal
4. Shri Sitaram Jindal: Trade & Industry | Karnataka
5. Shri Young Liu: Trade & Industry | Taiwan
6. Shri Ashwin Balachand Mehta: Medicine | Maharashtra
7. Shri Satyabrata Mookherjee: Public Affairs | West Bengal
8. Shri Ram: Public Affairs | Maharashtra
9. Shri Tejas Madhusudan Patel: Medicine | Gujarat
10. Shri Olanchery Rajagopal: Public Affairs | Kerala
11. Shri Dattatray Ambadas Mayaloo alias Rajdutt: Art | Maharashtra
12. Shri Togdan Rinpoche (Posthumous): Others-Spiritualism | Ladakh
13. Shri Pyarelal Sharma: Art| Maharashtra
14. Shri Chandreshwar Prasad Thakur: Medicine | Bihar
15. Ms. Usha Uthup: Art| West Bengal
16. Shri Vijaykanth (Posthumous): Art | Tamil Nadu
17. Shri Kundan Vyas: Literature & Education - Journalism | Maharashtra
Padma Shri:
.
SN Name Field
1. Shri Khalil Ahamad Art
2. Shri Badrappan M Art
3. Shri Kaluram Bamaniya Art
4. Ms. Rezwana Choudhury Bannya Art
5. Ms. Naseem Bano Art
6. Shri Ramlal Bareth Art
7. Ms. Gita Roy Barman Art
8. Ms. Parbati Baruah Social Work
9. Shri Sarbeswar Basumatary Others - Agriculture
10. Shri Som Datt Battu Art
11. Ms. Takdira Begum Art
12. Shri Sathyanarayana Beleri Others - Agriculture
13. Shri Drona Bhuyan Art
14. Shri Ashok Kumar Biswas Art
15. Shri Rohan Machanda Bopanna Sports
16. Ms. Smriti Rekha Chakma Art
17. Shri Narayan Chakraborty Science & Engineering
18. Shri A Velu Ananda Chari Art
19. Shri Ram Chet Chaudhary Science & Engineering
.
SN Name Field
20. Ms. K Chellammal Others - Agriculture
21. Ms. Joshna Chinappa Sports
22. Ms. Charlotte Chopin Others - Yoga
23. Shri Raghuveer Choudhary Literature & Education
24. Shri Joe D Cruz Literature & Education
25. Shri Ghulam Nabi Dar Art
26. Shri Chitta Ranjan Debbarma Others - Spiritualism
27. Shri Uday Vishwanath Deshpande Sports
28. Ms. Prema Dhanraj Medicine
29. Shri Radha Krishan Dhiman Medicine
30. Shri Manohar Krishana Dole Medicine
31. Shri Pierre Sylvain Filliozat Literature & Education
32. Shri Mahabir Singh Guddu Art
33. Ms. Anupama Hoskere Art
34. Shri Yazdi Maneksha Italia Medicine
35. Shri Rajaram Jain Literature & Education
36. Shri Jankilal Art
37. Shri Ratan Kahar Art
38. Shri Yashwant Singh Kathoch Literature & Education
.
SN Name Field
39. Shri Zahir I Kazi Literature & Education
40. Shri Gaurav Khanna Sports
41. Shri Surendra Kishore Literature & Education -

Journalism
42. Shri Dasari Kondappa Art
43. Shri Sridhar Makam Krishnamurthy Literature & Education
44. Ms. Yanung Jamoh Lego Others - Agriculture
45. Shri Jordan Lepcha Art
46. Shri Satendra Singh Lohia Sports
47. Shri Binod Maharana Art
48. Ms. Purnima Mahato Sports
49. Ms. Uma Maheshwari D Art
50. Shri Dukhu Majhi Social Work
51. Shri Ram Kumar Mallick Art
52. Shri Hemchand Manjhi Medicine
53. Shri Chandrashekhar Mahadeorao Meshram Medicine
54. Shri Surendra Mohan Mishra Art

(Posthumous)
55. Shri Ali Mohammed & Shri Ghani Mohammed* Art

(Duo)
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SN Name Field
56. Ms. Kalpana Morparia Trade & Industry
57. Ms. Chami Murmu Social Work
58. Shri Sasindran Muthuvel Public Affairs
59. Ms. G Nachiyar Medicine
60. Ms. Kiran Nadar Art
61. Shri Pakaravur Chithran Namboodiripad Literature & Education

(Posthumous)
62. Shri Narayanan E P Art
63. Shri Shailesh Nayak Science & Engineering
64. Shri Harish Nayak Literature & Education

(Posthumous)
65. Shri Fred Negrit Literature & Education
66. Shri Hari Om Science & Engineering
67. Shri Bhagabat Padhan Art
68. Shri Sanatan Rudra Pal Art
69. Shri Shankar Baba Pundlikrao Papalkar Social Work
70. Shri Radhe Shyam Pareek Medicine
71. Shri Dayal Mavjibhai Parmar Medicine
72. Shri Binod Kumar Pasayat Art
.
SN Name Field
73. Ms. Silbi Passah Art
74. Ms. Shanti Devi Paswan & Shri Shivan Paswan* Art
(Duo)
75. Shri Sanjay Anant Patil Others - Agriculture
76. Shri Muni Narayana Prasad Literature & Education
77. Shri K S Rajanna Social Work
78. Shri Chandrashekar Channapatna Rajannachar Medicine
79. Shri Bhagwatilal Rajpurohit Literature & Education
80. Shri Romalo Ram Art
81. Shri Navjivan Rastogi Literature & Education
82. Ms. Nirmal Rishi Art
83. Shri Pran Sabharwal Art
84. Shri Gaddam Sammaiah Art
85. Shri Sangthankima Social Work
86. Shri Machihan Sasa Art
87. Shri Omprakash Sharma Art
88. Shri Eklabya Sharma Science & Engineering
89. Shri Ram Chander Sihag Science & Engineering
90. Shri Harbinder Singh Sports
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SN Name Field
91. Shri Gurvinder Singh Social Work
92. Shri Godawari Singh Art
93. Shri Ravi Prakash Singh Science & Engineering
94. Shri Seshampatti T Sivalingam Art
95. Shri Somanna Social Work
96. Shri Kethavath Somlal Literature & Education
97. Ms. Shashi Soni Trade & Industry
98. Ms. Urmila Srivastava Art
99. Shri Nepal Chandra Sutradhar Art

(Posthumous)
100. Shri Gopinath Swain Art
101. Shri Laxman Bhatt Tailang Art
102. Ms. Maya Tandon Social Work
103. Ms. Aswathi Thirunal Gouri Lakshmi Bayi Thampuratty Literature & Education
104. Shri Jagdish Labhshanker Trivedi Art
105. Ms. Sano Vamuzo Social Work
106. Shri Balakrishnan Sadanam Puthiya Veetil Art
107. Shri Kurella Vittalacharya Literature & Education
108. Shri Kiran Vyas Others - Yoga
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SN Name Field
109. Shri Jageshwar Yadav Social Work
110. Shri Babu Ram Yadav Art
Shastri, Engineer honoured with Col CK Nayudu Lifetime Achievement Award

• Former India wicket-keeper Mr Farokh Engineer and all-rounder Mr Ravi Shastri were bestowed with
the Col. C.K. Nayudu Lifetime Achievement Awards at the glittering Naman Awards ceremony in
Hyderabad.
• Celebrating Indian Cricket and recognising performances both at the domestic and international
level, the Naman Awards for the past four seasons (2019-20, 2020-21, 2021-22, and 2022-23).
• For their outstanding performances, Mr Mohd. Shami (2019-20), Mr R. Ashwin (2020-21), and Mr
Shubman Gill (2022-23) received the Polly Umrigar A ward for Best International Cricketer- Men
while Mr Jasprit Bumrah, who had received this award in the 2018–19 season, received his second
for the 2021-22 season.
• Similarly, Ms Smriti Mandhana, who was named the Best International Woman Cricketer in 2017-18,
claimed the top award for the second time for her breakthrough performances in 2020–21 and also
2021–22.
• Meanwhile, Deepti Sharma swept awards for the seasons 2019–20 and 2022–23.
• K.N. Ananthapadmanabhan, Vrinda Rathi, Jayaraman Madan Gopal, and Rohan Pandit were
awarded the Best Umpire in Domestic Cricket for 2019–20, 2020–21, 2021–22, and 2022–23,
respectively.
• Mumbai received the Best Performance Award in BCCI Domestic Tournaments for 2019-20 for
winning the Vijay Merchant Trophy, the Women’s U23 T20 Trophy, finishing runner-up in the Vinoo
Mankad Trophy, and making it to the semi-finals of the Col CK Nayudu Trophy and the Cooch Behar
Trophy.
• Madhya Pradesh won the award for the 2021–22 season for winning the Ranji Trophy, finishing
runner-up in the Women’s U19 one-day Trophy, and a semi-final finish in the Col CK Nayudu
Trophy.
• Saurashtra claimed the top prize for the 2022–23 season for their title triumph in the Ranji Trophy,
the Vijay Hazare Trophy, the Men’s U25 State A trophy, and finishing runner-up in the Irani Cup.
.
List Of winners
• Best International Debut, Men: Mayank Agarwal (2019-20), Axar Patel (2020-21), Shreyas Iyer
(2021-22), Yashasvi Jaiswal (2022-23).
• Best International Debut, Women: Priya Punia (2019-20), Shafali Varma (2020-21), S Meghna
(2021-22), Amanjot Kaur (2022-23).
• Dilip Sardesai Award (2022-23): Highest Runs: Yashasvi Jaiswal; Highest Wickets: R Ashwin.
Former Bihar Chief Minister Karpoori Thakur to be awarded Bharat Ratna posthumously
• Rashtrapati Bhavan announced in its communique that prominent socialist leader and former Bihar
Chief Minister Karpoori Thakur will be posthumously awarded the Bharat Ratna.
• He will be the 49th recipient and 15th to be accorded posthumously.
• The announcement of conferring India's highest civilian award on Karpoori Thakur has been made a
day before his 100th birth anniversary.
ABOUT Karpoori thakur
• He was a prominent socialist leader. Thakur is also revered by his followers as 'Jannanayak', who
was known for his efforts to strengthen the backward castes.
• He was born on 24 January 1924 and died on February 17, 1988. Thakur was jailed during the Quit
India Movement against British rule.
• He won the election for the first time in 1952 and since then has not lost a single election in his
career.
• In 1978, Karpoori Thakur paved the way for reservation for backward castes in government services
in Bihar.
• He served as Chief Minister of Bihar from December 1970 to June 1971 and from December 1977 to
April 1979.
About Bharat Ratna award
• Bharat Ratna is the highest civilian Award of the country which was instituted in the year 1954.
• Any person without distinction of race, occupation, position or sex is eligible for these awards.
• Though usually conferred on India-born citizens, the Bharat Ratna has been awarded to one
naturalised citizen, Mother Teresa, and to two non-Indians, Pakistan national Khan Abdul Ghaffar
Khan and former South African President Nelson Mandela.
• The original statutes did not provide for posthumous awards but were amended in 1955 to permit
them. Former Prime Minister Lal Bahadur Shastri became the first individual to be honoured
posthumously.
.
• The recommendations for Bharat Ratna are made by the Prime Minister himself to the President and
no formal recommendations for this are necessary.
• The number of annual awards is restricted to a maximum of three in a particular year.
• On conferment of the award, the recipient receives a Sanad (certificate) signed by the President and
a medallion. The award does not carry any monetary grant.
• Earlier, the Finance Ministry notified issuance of a commemorative coin on the occasion of the birth
centenary of late Thakur .The coin will be in the denomination of ₹100.
• Commemorative coins are intended to celebrate and honour people, places, events, and institutions.
• Although these coins are legal tender, they are not minted for general circulation. Also, the price of
such a coin is much higher than value printed on it.
• The Bharat Ratna was last conferred to the late president Pranab Mukherjee in 2019.

HDFC Bank Board Grants 3-Year Extension to Atanu Chakraborty as Chairman
• Country's biggest private sector lender HDFC Bank’s board has approved a three year extension
to Atanu Chakraborty as non-executive chairman.
• The board has recommended the re-appointment of Chakraborty as the part-time non-executive
chairman and independent director of the bank to the Reserve Bank of India (RBI), for a second
term of three years with effect from May 5, 2024 to May 4, 2027.
• Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of
Economic Affairs in April 2020.
• Prior to that, he was Secretary of the Department of Investment and Public Asset Management
(DIPAM).
• Both departments come under the finance ministry.
About HDFC Bank :
• Chairman : Atanu Chakraborty
Power Grid Appoints Ravindra Kumar Tyagi as New Managing Director
• Ravindra Kumar Tyagi has been appointed as the new Chairman and Managing Director of Power
Grid Corporation of India Limited (POWERGRID).
• Prior to this, he was serving as Director (Operations) of the company.
.
• He has over 33 years of rich experience in the power sector at various key positions in leading
CPSU.
• He has handled multi-disciplinary work in various business areas of POWERGRID such as Asset
Management, Engineering, Business Development (domestic and overseas), Telecom, Load
Despatch & Communication, NTAMC, DMS etc. and Head of POWERGRID’s Northeastern
Region.
About POWERGRID :
• Founded : 23 October 1989
• Headquarters : Gurugram, Haryana, India
• Power Grid Corporation of India Limited is an Indian central public sector undertaking under the
ownership of the Ministry of Power, Government of India.
Former Niti Aayog Vice-Chairman Arvind Panagariya was appointed as head of the 16th Finance
Commission
● Arvind Panagariya, the former Vice Chairman of National Institution for Transforming India (NITI
Aayog) , has been named as the head of the 16th Finance Commission.
● Meanwhile, Ritvik Ranjanam Pandey will hold the post of secretary to the commission.
● The chairman and other members of the 16th Finance Commission shall hold office from the date
on which they respectively assume office up to the date of submission of report or October 31,
2025, whichever is earlier.
● The report of the commission shall be made available by October 31, 2025, covering a period of
five years commencing on April 1, 2026.
● The panel's predecessor, the 15th Finance Commission, which was set up on November 27,
2017, was chaired by the member of the erstwhile Planning Commission, NK Singh.
Kia India appoints Gwanggu Lee as the new Managing Director and Chief Executive Officer
• Kia India, a leading car manufacturer in India, has announced the appointment of Gwanggu Lee
as its new Managing Director (MD) and Chief Executive Officer (CEO).
• Gwanggu Lee succeeds Kook Hyun Shim and Tae Jin Park, becoming the 3rd Managing Director
and CEO of Kia India.
• Tae Jin Park, the former MD & CEO, is set to retire after a commendable 36-year tenure with Kia
Corporation, including 4 years with Kia India.
About Mr. Gwanggu Lee :
.
• Mr. Gwanggu Lee brings over 30 years of experience in the automotive industry, having held
leadership roles in various global markets, including the US, Canada,
Italy, Mexico, Central and South America, and Germany.
• His most recent role was as President at Kia Mexico, where he contributed significantly to the
company's growth and establishment as a production and export hub.
About Kia India :
• Founded : 19 May 2017
• Headquarters : Anantapur, Andhra Pradesh, India.
Pole Vaulter Katie Moon becomes ambassador for Mumbai Marathon

• Katie Moon, a two-time pole vault world champion and Tokyo Olympics gold medallist, has been
appointed as the event ambassador for the 19th edition of the Tata Mumbai Marathon.
• The Tata Mumbai Marathon is promoted by Procam International.
• It holds the prestigious status of being a World Athletics Gold Label Race.
• The Mumbai Marathon is recognized as one of the top 10 marathons in the world.
• With a prize money of USD 405,000, Mumbai Marathon 2024 will witness participation from across
the globe.
Shashi Singh Elected as President of All India Rubber Industries Association (AIRIA)
• Shashi Singh has been elected as the new president of the All India Rubber Industries Association
(AIRIA), the apex body for rubber industries in India.
• Mr. Shashi Singh will be succeeding Mr. Ramesh Kejriwal as the President of AIRIA, playing a
pivotal role in steering the association forward.
• Before assuming the role of President, Mr. Shashi Singh was the Senior Vice President within
AIRIA.
• The elections were held during the Annual General Meeting held on December 23, 2023, in
Mumbai, Maharashtra.
• 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.
About AIRIA :
.
• It is the largest not-for-profit non-government body for the rubber industry and trade.
Kuwait emir appoints Sheikh Mohammed Sabah al-Salem al-Sabah as prime minister of Kuwait
• Kuwait's new emir Sheikh Meshal al-Ahmad al-Sabah appointed Sheikh Mohammed Sabah al-
Salem al-Sabah as the country's prime minister (PM) of kuwait.
• He succeeds Sheikh Ahmad Nawaf AI Ahmad AI Sabah.
• Sheikh Mohammed Sabah al-Salem al-Sabah is a Kuwaiti politician, economist, and diplomat.
• In 1993 he was appointed as the ambassador of Kuwait to the United States, serving until 14
February 2001, at which point he became the Minister of Foreign Affairs.
About Kuwait :
• Emir : Mishal Al-Ahmad Al-Jaber Al-Sabah
• Prime Minister : Mohammad Sabah Al-Salem Al-Sabah
• Capital : Kuwait City
• Currency : Kuwaiti dinar
Senior IAS officer Vikas Sheel appointed as Executive Director of Asian Development Bank
• The government has appointed senior bureaucrat Vikas Sheel as the Executive Director (ED) of
Asian Development Bank (ADB) in Manila, Philippines.
• He has been appointed as ED, of ADB for a period of 3 years from the date of assumption of the
charge.
• Sheel, a 1994-batch Indian Administrative Service (IAS) officer of Chhattisgarh cadre, is currently
Additional Secretary and Mission Director, Jal Jeevan Mission under the Ministry of Jal Shakti.
Canara Bank's Chief General Manager, P Santhosh, appointed as MD & CEO of National Asset
Reconstruction Company Limited, Natarajan Sundar resigns as MD
• P Santhosh, Chief General Manager at Canara Bank, appointed as Managing Director (MD) and
Chief Executive Officer (CEO) of National Asset Reconstruction Company Limited (NARCL).
• Natarajan Sundar, the former MD and CEO of NARCL, resigned from the post.
• Natarajan Sundar is the second person among NARCL's top management to resign from the post
before completing their tenure.
• In August,2023 Karnam Sekar, chairman of NARCL, resigned ahead of his term without
specifying any reason.
.
About P Santhosh :
• He carries over three decades of experience in the banking sector, spanning across Corporate &
Wholesale Banking, Corporate Credit, International Banking, Project
Finance, etc.
• During his stint at SBI, Sundar held the position of Deputy Managing Director (DMD) and was
working as Chief Credit Officer for the Bank.
• A total of 10 Public Sector Banks (PSBs) have transferred Non-Performing Assets of over Rs
11,617 crore to NARCL between January and November last year.
About NARCL :
• Chairman : Diwakar Gupta
• MD & CEO : P Santhosh
• Canara Bank is the sponsor bank of NARCL with over a 10% stake.
• Public sector banks are major shareholders of NARCL.
Vice Admiral Dinesh K. Tripathi Assumes Role as the New Vice Chief of the Naval Staff
• Vice Admiral Dinesh K Tripathi assumed the charge of Vice Chief of the Indian Navy.
• Vice Admiral Dinesh K Tripathi has taken the place of Vice Admiral Sanjay J Singh, who became
Flag Officer Commanding-in-Chief of the Western Naval Command.
About Dinesh K Tripathi :
• Dinesh K Tripathi joined the Indian Navy on 1 July 1985.
• He was serving as the Flag Officer Commanding-in-Chief of the Western Naval Command.
• He is an alumnus of the National Defence Academy, Khadakwasla.
• A Communication and Electronic Warfare specialist, he served on frontline warships of the Navy
as Signal Communication Officer and Electronic Warfare Officer, and later as the Executive
Officer and Principal Warfare Officer of Guided Missile Destroyer INS Mumbai.
• He commanded Indian Naval Ships Vinash, Kirch and Trishul.
Awami League President Sheikh Hasina to be sworn in as Prime Minister of Bangladesh
• Awami League President Sheikh Hasina will be sworn in as Prime Minister of Bangladesh for the
fourth straight term.
• Bangladesh's President will administer the oath to the new prime minister in Dhaka.
.
• Cabinet Secretary announced the list of ministers and as per the list, 15 ministers of the last
cabinet including some heavyweights like Finance Minister AHM Mustafa Kamal, Agriculture
Minister Dr Abdur Razzak, Foreign Minister Dr AK Momen, and Commerce Minister Tipu Munshi
have been dropped from the new cabinet.
Senthil Pandian C to be India’s next ambassador to WTO

• India has recently appointed Senthil Pandian C as its Ambassador to the World Trade
Organization (WTO), marking a significant development in the country’s representation on the
global trade stage.
• Senthil Pandian C, an experienced diplomat with a proven track record, is set to take charge at a
crucial time when international trade dynamics are evolving rapidly.
• Over the years, India has been a vocal advocate for the interests of developing nations,
emphasizing issues such as agricultural subsidies, intellectual property rights, and equitable trade
practices.
Bhutan: Tshering Tobgay to be re-elected as Bhutan's Prime Minister
• The party of Bhutan's former prime minister Tshering Tobgay won general elections with nearly
two-thirds of seats in parliament.
• Tobgay's People's Democratic Party (PDP) won the 2024 National Assembly general elections with
30 seats' ' while the Bhutan Tendrel Party (BTP) took the remaining 17, local media reported.
• Tshering Tobgay is expected to become Bhutan's PM for the second time.
Raghuram Iyer appointed as Chief Executive Officer by Indian Olympic Association

• Indian Olympic Association (IOA) appointed Indian Premier League side Rajasthan Royals'
former official Raghuram Iyer as its Chief Executive Officer (CEO), a year after it was due and
following repeated reminders from the IOC.
• Iyer was appointed as its CEO after a "meticulous selection process conducted by the nomination
committee".
• The appointment followed a meticulous selection process conducted by the nomination
committee.
• Before Iyer's appointment, the joint secretary and All India Football Federation (AIFF) president
Kalyan Chaubey had been discharging the functions of the CEO.
About IOA :
.
• President : P. T. Usha
• The Indian Olympic Association (IOA) or Indian Olympic Committee (IOC) is responsible for
selecting athletes to represent India at the Olympic Games, Asian Games and other international
sports competitions, and managing Indian teams at these events.
Nadia Calviño Becomes the First Female President of the European Investment Bank (EIB)
• Nadia Calviño assumed the role of President of the European Investment Bank (EIB).
• Calviño takes over from Werner Hoyer, who had been president of the Bank since 2012
• The 8th president of the European Union (EU) bank, Calviño is the first woman to lead the
institution.
• She is also the first Spaniard to head the Bank.
About Nadia Calviño :
• Nadia María Calviño Santamaría, born on October 3, 1968, in A Coruña, Galicia, Spain.
• Calviño began her career in various roles within the Ministry of Economy and later, in 2006,
joined the European Commission.
• She held various positions within different directorates-general and, in 2014, was appointed
Director-General for Budget (DG BUDG).
About EIB :
• Founded : 1958
• Headquarters : Luxembourg
• President : Nadia Calviño Santamaría
• The European Investment Bank is the European Union's investment bank and is owned by the 27
member states.
• It is the largest multilateral financial institution in the world.
China appoints former top naval commander Dong Jun as new defence minister
• China named naval commander General Dong Jun as the new defence minister, two months
after the summary dismissal of General Li Shangfu without any explanation.
About Dong Jun :
• Dong, formerly the commander of the Chinese navy, was promoted to the rank of general in
September 2021, making him one of the highest-ranking officers in active service.
.
• Dong has served as the deputy commander of the military's Southern Theater Command, which
includes the operations in the controversial South China Sea, where China faces territorial
disputes with other countries including Taiwan.
• The appointments for the top defence posts are cleared by President Xi, who is also the head of
the Central Military Commission (CMC), besides being the General Secretary of the ruling
Communist Party of China (CPC).
About China :
IAS officer Senthil Pandian appointed as India's representative to the World Trade Organization (WTO)
• Senthil Pandian, a 2002 IAS officer of the Uttar Pradesh cadre, has been appointed as India's
ambassador to the World Trade Organisation (WTO) in Geneva.
• The Appointments Committee of the Cabinet (ACC) approved Pandian's appointment for a three-
year term, effective from the date of assuming charge.
• At the time of appointment, Senthil Pandian is serving as the commissioner of excise in Uttar
Pradesh.
• The appointment comes as the tenure of Brajendra Navnit, India's current ambassador to the
WTO, concludes on March 31, 2024.
About WTO :
• Established : 1 January 1995
• Headquarters : Geneva, Switzerland
• Director-General : Ngozi Okonjo-Iweala.
• Membership : 164 members (160 UN member states, the European Union, Hong Kong, Macao,
and Taiwan)
Justice BR Gavai Nominated as Chairperson of Supreme Court Legal Services Committee
• Supreme Court judge Justice BR Gavai has been nominated as the Chairman of the Supreme
Court Legal Services Committee (SCLSC), replacing Justice Sanjiv Khanna – the senior most
judge of the top court after the Chief Justice of India (CJI).
.
• The Supreme Court Legal Services Committee is constituted under Section 3A of the Legal
Services Authorities Act, 1987, with the aim of providing "free and competent legal services to the
weaker sections of society" in cases under the jurisdiction of the Supreme Court.
SEBI Appoints G Ram Mohan Rao as Executive Director Overseeing Investigation and Internal
Inspection
• Govindayapalli Ram Mohan Rao has been appointed as Executive Director of Securities and
Exchange Board of India (SEBI).
• His appointment is for 3 years and he will be handling the Investigation Department and Internal
Inspection Department.
About G Ram Mohan Rao :
• He has worked with SEBI for 25 years.
• He handled portfolios such as Inspections, Investigations and Market Surveillance. He has also
served at the Northern Regional Office and Serious Fraud Investigation Office.
• Prior to this assignment, Rao was the Regional Director of the Eastern Regional Office of SEBI
and supervised diverse portfolios such as, Inspections, Collective Investment Schemes,
Litigation, Recovery, setting up of Investor Service Centers, Investor Awareness, Financial
Education, redressal of grievances, coordination with 13 States/ UTs and so on.
Indra Mani Pandey Assumes Role as Secretary General of Bay of Bengal Initiative for Multi-Sectoral
Technical and Economic Cooperation
• Indra Mani Pandey, a veteran diplomat and a 1990-batch Indian Foreign Service (IFS) officer,
has taken charge as the new Secretary General of the Bay of Bengal Initiative for Multi-Sectoral
Technical and Economic Cooperation (BIMSTEC).
• Pandey assumed charge as the 4th Secretary General of BIMSTEC at its secretariat in Dhaka.
• He replaced Tenzin Lekfel of Bhutan.
• His tenure in this prestigious post will be for three years.
About Indra Mani Pandey :
• Pandey is a 1990-batch Indian Foreign Service (IFS) officer.
• He was serving as India's Permanent Representative to the United Nations and other
international organizations in Geneva before assuming the new assignment.
About BIMSTEC :
.
• Established : 6 June 1997 through the Bangkok Declaration.

• Headquarters : Dhaka, Bangladesh.
• BIMSTEC is an international organization of South Asia and Southeast Asian countries.
• Its members are Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
Rear Admiral Upal Kundu assumes charge as Chief of Staff at Southern Naval Command
• Rear Admiral Upal Kundu, an esteemed alumnus of the Indian Naval Academy, has recently
taken over as the Chief of Staff at the Southern Naval Command (SNC).
• This seasoned naval officer brings with him a wealth of experience and expertise, particularly in
anti-submarine warfare (ASW).
• An alumnus of the Indian Naval Academy, he was commissioned into the Indian Navy in 1991.
• He is an anti-submarine warfare (ASW) specialist and commanded guided missile frigate INS
Trikand, missile corvette INS Kuthar, erstwhile INS Akshay, and ashore units — INS
Tanaji and INS Kadamba.
Awami League President Sheikh Hasina to be sworn in as Prime Minister of Bangladesh
• Awami League President Sheikh Hasina will be sworn in as Prime Minister of Bangladesh for the
fourth straight term.
• Bangladesh's President will administer the oath to the new prime minister in Dhaka.
• Cabinet Secretary announced the list of ministers and as per the list, 15 ministers of the last
cabinet including some heavyweights like Finance Minister AHM Mustafa Kamal, Agriculture
Minister Dr Abdur Razzak, Foreign Minister Dr AK Momen, and Commerce Minister Tipu Munshi
have been dropped from the new cabinet.
Senthil Pandian C to be India’s next ambassador to WTO

• India has recently appointed Senthil Pandian C as its Ambassador to the World Trade
Organization (WTO), marking a significant development in the country’s representation on the
global trade stage.
• Senthil Pandian C, an experienced diplomat with a proven track record, is set to take charge at a
crucial time when international trade dynamics are evolving rapidly.
• Over the years, India has been a vocal advocate for the interests of developing nations,
emphasizing issues such as agricultural subsidies, intellectual property rights, and equitable trade
practices.
Bhutan: Tshering Tobgay to be re-elected as Bhutan's Prime Minister
.
• The party of Bhutan's former prime minister Tshering Tobgay won general elections with nearly
two-thirds of seats in parliament.
• Tobgay's People's Democratic Party (PDP) won the 2024 National Assembly general elections with
30 seats' ' while the Bhutan Tendrel Party (BTP) took the remaining 17, local media reported.
• Tshering Tobgay is expected to become Bhutan's PM for the second time.
Denmark’s King Frederik X takes the throne as his mother Queen Margrethe II steps down after 52
years
● Denmark’s King Frederik X ascended the throne, succeeding his mother, Queen Margrethe II,
who formally abdicated after 52 years as monarch, with big crowds gathered in the capital to
witness history.
● Margrethe, 83, stunned the nation on New Year’s Eve when she announced she planned to
become the first Danish monarch in nearly 900 years to voluntarily relinquish the throne.
● The succession was formalized the moment Margrethe signed the declaration of her
abdication during a meeting of the Council of State at parliament, the royal palace stated.
● Denmark, one of the oldest monarchies in the world, does not have a coronation.
● The meeting was attended by government representatives, Margrethe, Frederik, 55, his
Australian-born wife Mary, 51, who is now queen, and their oldest son Christian, 18, who is
the new heir to the throne.
● About an hour after the signing, Prime Minister Mette Frederiksen was due to proclaim the
new king on the balcony of the parliament and Frederik gave a short speech.
Royal Power Couple
● Margrethe, who in the past had stated she would remain on the throne for life, did not give an
exact reason for her decision to step down but said that a major back surgery she underwent
in February last year had made her consider her future.
● “It could be that she thinks Prince Frederik is prepared to take over now,” said Lars Hovbakke
Sorensen, a historian and associate professor at University College Absalon in Denmark.
● “He’s 55, and maybe the queen wanted to avoid a situation where you would have a very, very
old king, as you saw with Prince Charles.”
● The British king was 73 when he ascended the throne after his mother Queen Elizabeth died
in September 2022 aged 96.
.
● The new king and queen take the throne at a time of huge public support and enthusiasm for
the monarchy.
● The most recent survey done after Margrethe announced she would abdicate indicated
that 82% of Danes expect Frederik to do well or very well in his new role, while 86% said the
same about Mary.
Reformist Arevalo sworn in as Guatemala president after opponents delay inauguration
● Anti-corruption crusader Bernardo Arevalo was sworn in as Guatemala’s president after a
chaotic inauguration that was delayed for hours by a last-ditch attempt by Congress
opponents to weaken his authority.
● The latest in a series of legislative setbacks triggered by opponents underscored the
challenges Arevalo faces as leader of Central America’s most populous nation, to which he
has pledged to bring sweeping reforms and tackle the rising cost of living and violence, key
drivers of migration to the United States.
● Arevalo won August elections by a landslide and about 9 hours after his inauguration was
scheduled to start, he took the oath as president, replacing conservative politician Alejandro
Giammattei whose government has been engulfed in corruption scandals.
● Giammattei skipped the ceremony. Arevalo’s unexpected election victory was seen as a
watershed moment for Guatemala, where the 65-year-old has cast himself as a democracy
advocate and the leader of a progressive movement bent on reshaping a political landscape
long dominated by conservative parties.
● A career diplomat, sociologist and son of a former president, Arevalo has faced steady
opposition from established political parties such as those of Giammattei, whose allies have
repeatedly tried to undermine his election victory.
● Guatemala’s attorney general, an ally of Giammattei, has made several attempts to hinder
Arevalo’s transition to the presidency, including trying to strip Arevalo and his vice president of
legal immunity, attempting to suspend his Semilla party and annul the election.
● The attorney general’s office has defended its actions as within the framework of Guatemala’s
laws, but the political infighting has highlighted to many Guatemalans the
limitations Arevalo’s administration faces.
● In addition to tackling domestic issues, the government of Arevalo and Vice President Karin
Herrera will have to balance demands by the United States to stem migration amid record-
high remittances that keep the local economy afloat.
.
● Acting on U.S. pressure, Giammattei often deployed the police and the military to stop
migrants, and they used heavy-handed tactics such as launching tear gas at the crowds.
● In his inauguration speech, Arevalo stated his government was committed to treating migrants
crossing Guatemala’s territory with “dignity, respect, compassion, in the same way we will
demand that Guatemalan migrants are treated abroad.”.
Andhra Pradesh Congress Chief Rudraraju Gidugu resigns, YS Sharmila likely to take over
● Andhra Pradesh Congress Committee (APCC) Chief Rudraraju Gidugu stepped down from
the post.
● However, sources have stated that he will continue his journey with the grand old party until
further orders from the high command.
● Earlier this month, YS Sharmila, the sister of Andhra Pradesh Chief Minister Jaganmohan
Reddy and daughter of former Chief Minister YS Rajasekhar Reddy, joined Congress after
merging her party, YSR Telangana Party, into Congress.
● As per the sources, she is likely to be appointed as the APCC President and will be made to
face off with her brother, Reddy, in the Lok Sabha polls.
● She was inducted into the party by Congress president Mallikarjun Kharge in the presence of
former party president Rahul Gandhi and other senior leaders, including the general secretary
of the organisation, KC Venugopal.
● Speaking on the occasion, Sharmila stated it gave her immense pleasure that the YSR
Telangana Party had merged with the Congress. She stated her father, the late YS
Rajasekhar Reddy, not only served the Congress party his entire life but also gave his life
serving the party.
● Sharmila stated that she had decided to join the Congress as it was the only true and largest
secular party in the country. She stated it always upheld the culture of India, serving all
sections and uniting the people of India.
● Sharmila added that she was deeply pained and anguished over what happened in Manipur.
She stated this can always happen if a party like Congress is not in power.
● She went on to disclose that it was her father’s dream to see Rahul Gandhi as the Prime
Minister of India, and she was glad that she was going to be a part of making that happen.
● YS Sharmila stated that whatever role the Congress party will give her, she will perform it with
loyalty, integrity and diligence.
BP appoints interim CEO Murray Auchincloss as permanent boss following Bernard Looney’s exit
.
● Energy giant BP appointed interim boss Murray Auchincloss as permanent CEO on January
17.
● The development came four months after Bernard Looney’s sudden resignation on September
12 over undisclosed relationships with employees.
● Murray Auchincloss indicated that he would continue a strategy aimed at slashing carbon
emissions, building up its renewables and clean fuel capacity and cutting oil and gas output by
● Murray Auchincloss headed BP’s finances under
● BP shares started the day 1 percent lower while Shell was down by 2 percent. Amid a recent
wave of consolidation, there is speculation that BP could be an acquisition target as the stock
has underperformed rivals since Looney’s departure.
● In February last year, Murray Auchincloss played a key role in formulating changes that
Looney made to the company’s strategy.
● These changes included slowing down BP’s retreat from oil and gas and reducing spending
on renewables in an effort to improve returns.
● Moreover, Murray Auchincloss’ partner is a BP employee.
● He disclosed the relationship status before becoming CFO in 2020. The new CEO will receive
an annual salary of 1.45 million pounds ($1.83 million) plus bonus.
● The process to appoint a person to the permanent role of CFO continues while Kate
Thomson continues to serve as interim CFO, a spokesperson informed.
Sue Redfern to make history as first ICC-appointed female neutral umpire in bilateral series
● Sue Redfern will become the first female neutral umpire appointed by the International Cricket
Council to work in a bilateral series, having been named for the upcoming ICC Women’s
Championship and T20I matches between Australia and South Africa.
● Redfern’s appointment ensures neutrality while fostering the growth of local female
umpires who learn alongside seasoned professionals.
● This builds upon the momentum created by the historic all-female match officials panel at
the 2023 ICC Women’s T20 World Cup.
● The ICC prioritises female umpires for this neutral role, guaranteeing them equal match-day
pay and perks as their male counterparts on ICC’s elite panel.
About Sue Redfern:
● Suzanne Redfern MBE(born 26 October 1977) is an English cricket umpire and former
cricketer.
.
● She played for the England women’s team between 1995 and 1999, including at the 1997
World Cup.
● At the 1997 World Cup in India, Redfern played in only four of her team’s seven matches,
taking three
● Her final matches for England came at the age of 21, in July 1999, when she played in a
single Test and a single ODI against India.
IIM Calcutta Removes Director Sahadeb Sarkar Over Sexual Harassment Complaint
● The Indian Institute of Management Calcutta (IIM-C) has removed its director-in-
charge, Sahadeb Sarkar, because of an allegation of sexual harassment against him. The
institute announced this decision in a statement.
● According to The Indian Express, the next senior-most faculty member, professor Saibal
Chattopadhyay, has been appointed as director-in-charge.
● Sarkar is the third IIM director in three years to leave before his term is over.
About IIM-C:
● Indian Institute of Management Calcutta(IIM Calcutta or IIM-C) is a public business
school located in Joka, Kolkata, West Bengal,
● It was the first Indian Institute of Management to be established, and has been recognized as
an Institute of National Importance by the Government of India in
Vice Admiral Gurcharan Singh, NM assumes charge as Controller Personnel Services
● Vice Admiral Gurcharan Singh assumed charge as the Controller Personnel Services
(CPS) on 15 Jan 24.
About Gurcharan Singh:
● An alumnus of the National Defence Academy (Khadakwasla), he was commissioned into
Indian Navy on 01 Jul 1990 and is a graduate of Defence Services Staff College (Wellington),
Naval War College (Goa) and National Defence College (New Delhi).
● His academic qualifications include MSc and MPhil (Defence & Strategic Studies) In addition
to the Staff, Higher Command and NDC courses in India, he has attended the Maritime
Intelligence Course at National Intelligence University (NIU), Washington, and the United
Nations Staff Officers Course (UNSOC) at Stockholm, Sweden.
● The Flagg Officer has held several appointments, both afloat and ashore.
● As a specialist in Gunnery and Missiles, he has served on Indian Naval Ships Ranjit, Prahar
and Brahmaputra.
.
● He has commanded INS Vidyut. INS Khukri and INS Kochi.

● He has been an instructor at INS Dronacharya (Gunnery School) and the Deputy
Commandant of Naval War College (Goa).
Awards won by Gurcharan Singh:
● He was awarded the Admiral Katarı Trophy for standing ‘First in Overall Order of Merit of his
batch during ab initio training.
● He has also been awarded the FOC-in-C commendation (2002) and the Nao Sena Medal
(2020).
● Under his command, INS Khukri was awarded the ‘Unit Citation’ on Dec 11 for overall
operational effectiveness and successful conduct of anti-piracy operations.
RuPay Prime Volleyball League ropes in Hrithik Roshan as brand ambassador for Season 3
● Indian superstar Hrithik Roshan joins the 3rd season of RuPay Prime Volleyball League
powered by A23 as the brand ambassador.
● Hrithik, an avid sports fan himself, enjoys the physical nature of volleyball and describes the
partnership as a natural fit for him.
● The event is all set to begin on February 15, 2024 and will be telecast LIVE on Sony Sports
Network.
● The RuPay Prime Volleyball League powered by A23 is co-owned and exclusively marketed
by Baseline Ventures, a sports marketing firm.
● Tuhin Mishra, managing director and co-founder, Baseline Ventures.
Senior IPS officer Daljit Singh Chaudhary appointed chief of Sashastra Seema Bal
● Senior IPS officer Daljit Singh Chaudhary was appointed as the director general of
the Sashastra Seema Bal (SSB), a Personnel Ministry order stated.
● Chaudhary, a 1990 batch Indian Police Service (IPS) officer of Uttar Pradesh cadre, is
presently working as Special Director General of the Central Reserve Police Force (CRPF).
● The Appointments Committee of the Cabinet has approved his appointment as the DG, SSB
for a period up to November 30, 2025e. the date of his superannuation, the order stated.
● The SSB guards India’s frontiers with Nepal and Bhutan.
● The top post in the central armed police force was lying vacant following repatriation
of Rashmi Shukla to her cadre state Maharashtra earlier this month.
● Shukla is now Director General of Police (DGP), Maharashtra.
SC Collegium recommends Karnataka HC Chief Justice Prasanna B Varale’s elevation as apex court
.
judge
● The Supreme Court collegium headed by Chief Justice D Y Chandrachud recommended the
elevation of Karnataka High Court Chief Justice Prasanna B Varale as a top court judge.
In a meeting held, the collegium, also comprising Justices Sanjiv Khanna, B R Gavai, Surya
Kant and Aniruddha Bose, took into consideration the fact that he is among the senior-most
High Court judges and is the only HC chief justice from the Scheduled Caste.
● The collegium took note of the vacancy that arose on the retirement of Justice Sanjay Kishan
Kaul on December 25, 2023.
Arjun Munda panel elected in the AAI
● Union Minister Arjun Munda, with his entire panel of Sr. Vice-President (1), eight (8) Vice
Presidents and seven (7) Joint Secretaries, Secretary-General (1), and Treasurer (1) was re-
elected unopposed to the post of President of Archery Association of India for the
period 2024-2028 in the General Council meeting of the AAI held at DDA Yamuna Sports
Complex,
● Virendra Sachdeva, earlier the Treasurer of the Association, is the new Honorary Secretary
General while Dr Joris Paulose Ummacheril of Kerala has been elected as the new Hony.
● Thirty-five (35) member State Archery Associations affiliated took part in the election process.
● Justice Permod Kohli (Retd.), Former Chief Justice, Sikkim High Court, and Chairman of the
Arbitration Commission of the Indian Olympic Association conducted the proceedings.
PepsiCo India appoints Jagrut Kotecha as new CEO
● PepsiCo India announced a leadership-level change as the food and beverage maker’s India
team has appointed Jagrut Kotecha its chief executive officer (CEO). Kotecha is currently
serving as the chief commercial officer of PepsiCo Africa, Middle-East, and South Africa
(AMESA).
● The move came after incumbent CEO Ahmed El Sheikh was given responsibility for the
company’s Middle East branch after his seven-year-long stint with the India team.
● Eugene Willemsen, CEO, PepsiCo (Africa, Middle East & South Asia), stated India remains a
pivotal market for the company, playing a crucial role in our global strategy.
● Pepsico India Holdings revenue from the sale of products and services on a consolidated
basis was up 28.47 per cent to Rs 8,127.07 crore, for the financial year that ended on March
31, 2023.
● He joined Pepsico in 1994.
.
● Before joining Pepsico, Kotecha worked with Cadbury India sales team for two years.
Anil Kumar Lohati appointed as new TRAI chairman
• The government has appointed former chairman and chief executive officer of the Railway Board
chairman, Anil Kumar Lohati, as the new chairperson of the Telecom Regulatory Authority of
India (Trai) chairperson.
• The high-profile post of Trai chairman was vacant following the completion of a two-year term of
former chairman PD Vaghela in September last year.
• Meenakshi Gupta (Member) took over the additional charge in the interim.
• Former power secretary Sanjiv Sahai, former member of technology at the Department of
Telecommunications (DoT) A K Tiwari, and former secretary of the Ministry of Electronics and
Information Technology Ajay Prakash Sawhney were also in the race to take over as the next
regulator.
About Lahoti:
• Lahoti is an Indian Railway Service of Engineers 1984 batch officer and was appointed in the first
panel of Indian Railways Management Service for Level-17.
• During his more than 35 years of career in the Indian Railways, Lahoti worked in various
capacities across Central, Northern, North Central, Western and West Central Railways regions.
• He underwent training in Strategic Management and Leadership programs at Carnegie Mellon
University, Pittsburgh, USA; Bocconi School of Management, Milan, Italy; and the Indian School
of Business, Hyderabad.
• Starting from 2018, the position is accompanied by a consolidated monthly salary of Rs 4.50
lakh.
• The TRAI Act of 1997, which regulates appointments to the position, has been amended in the
Telecom Bill to enable the appointment of senior executives from the private sector for the role.
Adani Energy Solutions appoints Kunjal Mehta as CFO
• Adani Energy Solutions Limited approved during the meeting of the Board of Directors of the
Company held on January 29, 2024, approved that Mr. Rohit Soni, Chief Financial Officer (a Key
.
Managerial Personnel, categorized as Senior Management Personnel), to relinquish his position

as Chief Financial Officer of the Company, in view of transition to a new role, effective from
closure of the business hours on March 31, 2024.
• Mr. Kunjal Mehta, presently serving as CFO within Adani Portfolio of Companies, will assume the
role of Chief Financial Officer of the Company (a Key Managerial Personnel, categorized as
Senior Management Personnel), commencing from April 1, 2024.
• Mr. Rohit Soni was appointed as Chief Financial Officer ("CFO") of the Company in the month of
September 2021.
• Under the ongoing leadership development process across the Adani Group, Mr. Rohit Soni will
be assuming a new role within the Adani portfolio of companies effective from April 1, 2024.
• Mr. Kunjal Mehta is a qualified Chartered Accountant and Cost Accountant with over 24 years of
work experience.
• In his previous positions, he has worked with Adani Ports & SEZ and Essar Steel.
• His expertise lies in the domains of Finance Resource Mobilization, Working Capital
Management, Financial Planning & Analysis, Auditing & Budgetary Controls, Compliance and
Risk Management functions of Business.
Bhutan's liberal Tobgay becomes prime minister for second time

• Bhutans liberal politician Tshering Tobgay, leader of the Peoples Democratic Party (PDP),
officially began his second term as prime minister, following elections earlier this month.
• To mark his appointment formally, King Jigme Khesar Namgyel Wangchuck handed a scarf to
Tobgay, a statement posted on the king's official facebook page stated.
• Tobgay, 58, is country's fourth freely elected prime minister since democracy was established in
the Himalayan kingdom 15 years ago.
• A former bureaucrat and an advocate for Bhutans Buddhist culture, he was previously prime
minister from 2013 to 2018.
• He was also the leader of opposition in the parliament set up after the first free vote in 2008 until
2013.
• Bhutan is a country of fewer than 800,000 people, situated between China and India.
• It is known for its Gross National Happiness (GNH) index, an economic gauge that takes into
account factors such as recreation and emotional well-being that are ignored by gross domestic
product measures.
.
• But Tobgay faces the challenge of revamping the $3 billion economy following the COVID-19
pandemic and creating jobs to prevent young Bhutanese people from going abroad, mainly to
Australia, in pursuit of better opportunities.
SUDHIR SEKHRI TAKES OVER AS THE NEW CHAIRMAN OF AEPC

• Shri Sudhir Sekhri, an Apparel industry veteran, has taken over as the new Chairman of Apparel
Export Promotion Council (AEPC).
• Shri Sekhri has been into the business of Readymade Garment Manufacturing for more than four
decades and is currently Managing Partner of Trendsetter International.
• He stated that ‘Our target to reach 40 billion USD of RMG export by 2030 can be a reality and my
duty is to take every possible step to reach this target’, he added.
About Sudhir Sekhri:
• After a 5-year stint in the family manufacturing & export business of electric welding equipment,
he diversified into the manufacturing & export business of readymade garments.
• He has been an Executive Committee member of the Apparel Export Promotion Council (AEPC)
since 1990, Chairman (Export Promotion Committee) of AEPC for several years and Vice
Chairman, AEPC for the year 2022 & 2023.
• He has been an Executive Committee member of the Garment Exporters & Manufacturers
Association (GEMA) since its inception and is its current Senior Vice President.
• He has also been an Executive Committee member of Apparel Training and Design Center
(ATDC) since 2014 and an Executive Member of Apparel Made-Ups Home Furnishing Sector
Skill Council (AMHSSC) since 2023.
• He is also on the Board of the Federation of Indian Export Organizations (FIEO).
• Sudhir Sekhri is known for his philanthropy, benevolence and humanitarianism.
• He is one of the early donors to Dharamshila Cancer Foundation and Research Centre, an NGO
that started North India's first state-of-the-art comprehensive cancer care and research centre.
• He is an annual contributor to Vivekanand Kendra Prathisthan to sponsor Child’s Education
program.
• He regularly donates to several Institutions involved in social causes viz Sewa Bharti, Durbal
Divyang Kalyan Society, ISCKON, etc.
Bihar Chief Minister Nitish Kumar resigns; expected to form new government with BJP support
.
• Bihar Chief Minister Nitish Kumar submitted his resignation to Governor Rajendra Vishwanath
Arlekar, breaking away from the grand alliance less than 18 months after forming a new
government in the state with the support of Lalu Prasad Yadav's Rashtriya Janata Dal.
• The JD(U) president is expected to stake claim to form a new government with the Bharatiya
Janata Party's support.
• The BJP has the largest number of 17 MPs in Bihar, where the total number of Lok Sabha
members is 40.
• The JD(U), headed by Nitish Kumar, has 16, while another NDA ally LJP, now split up between
the uncle-nephew duo of Pashupati Kumar Paras and Chirag Paswan, has six.
• In the Bihar assembly of 243, the RJD has 79 MLAs; followed by the BJP's 78; the JD(U)'s 45'
the Congress's 19, the CPI (M-L)'s 12, two each of the CPI(M) and CPI, the Hindustani Awam
Morcha (Secular)'s four seats, and the AIMIM's one, plus one Independent legislator.
Justice Prasanna Bhalachandra Varale Sworn In, Elevating Dalit Representation to Three in Supreme
Court
● In exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the
President is pleased to appoint Shri Justice Prasarma Bhalachandra Varale, Chief Justice of the
Karnataka High Court, to be a Judge of the Supreme Court of India.
● He replaced Justice S K Kaul, who retired in Dec 2023.
● His elevation takes the number of Supreme Court judges back to its full strength of 34.
● He would become the third sitting judge from a Scheduled Caste community.
● The others are Justices B R Gavai and C T Ravikumar.
● Currently, Prasanna B Varale is the only High Court Chief Justice belonging to the Scheduled
Caste community and he claims to be born in a family “blessed by Dr B R Ambedkar".
About Prasanna B Varale :
● He has practiced law (specifically civil, criminal, labour, and administrative matters) for over two
decades, and previously served in the Bombay High Court.
● He took oath as the Chief Justice of the Karnataka High Court in October 2022.
InterGlobe appoints Aditya Pande as group CEO

• To strengthen its leadership team, InterGlobe Enterprises has announced the appointment of
Aditya Pande as its Group Chief Executive Officer, effective from March 1.
.
• A senior professional with diverse and multi-functional experience of over 25 years, Aditya will
rejoin InterGlobe from Udaan, B2B e-commerce company.
• In his previous stint with InterGlobe (IndiGo), Pande worked as chief financial officer from
September 2019 to February 2021.
• He joined Udaan in February 2021.
• His experience lies in working with the healthcare, manufacturing, airline, e-commerce, and
services industry.
• He is skilled in leading finance teams in strategy, corporate finance, FP&A, manufacturing
finance, general management, M&A, financial modeling, controllership functions, and stakeholder
management.
• He has held business strategy and finance roles in various companies, driving operations with a
focus on productivity & profitability.
• In addition to IndiGo, he worked at General Electric and Arthur Andersen.
Suryakumar Yadav named captain as ICC announces T20I Team of the Year for 2023
• The ICC announced the T20I Team of the Year for 2023.
• India's Suryakumar Yadav was named captain of the ICC T20I team.
• Four Indians have made the cut as the International Cricket Council (ICC) announced the Men's
T20I Team of the Year for the 2023 season.
• Top-ranked batter Suryakumar Yadav spearheaded the star-studded lineup revealed by the
global cricket administrative body in the T20 World Cup year.
• Premier batter Suryakumar recently captained the Indian team in the absence of skipper Rohit
Sharma and his former deputy Hardik Pandya.
• Under the leadership of Suryakumar, India played two T20I series against Australia and South
Africa after the One Day International (ODI) World Cup.
• Nicknamed SKY, the explosive batter retained the top spot in last year's ICC Men's T20I batting
rankings.
• Each year, the ICC recognises 11 outstanding individuals who earned plaudits for their
remarkable performances in the shortest format.
.
• Players who stood out throughout the 2023 season have been nominated in the ICC Men’s T20I
Team of the Year.
• ICC picked Suryakumar as the captain of the men's T20I team of the year after the star batter
capped off a stellar 2023 season in the shortest format.
• Surya kicked off the previous season with a score of seven against Sri Lanka before notching up
scores of 51 (36) and 112* (51) in the next two T20Is.
• The top-ranked batter showcased his consistency by regularly scoring in the 20s to 40s for India.
• He also smashed half-centuries against Australia (80 off 42 balls) and South Africa (56 from 36
balls).
• In the final T20I of the year at Johannesburg, India's stand-in skipper registered a stunning
century off 56 balls against South Africa.
Atul Mehra quit JM Financial Services, to join Axis Capital as MD & CEO
• Investment banker Atul Mehra has resigned from his position as joint managing director at JM
Financial Services after a 33-year tenure in the group, the company stated.
• He is set to join Axis Capital as managing director and chief executive, a position that has been
vacant since December 2018, when Dharmesh Mehta resigned to establish his investment bank,
stated people with knowledge of the matter.
• At Axis Capital, Mehra will be responsible for overseeing equity capital markets, business
operations, mergers and acquisitions, securities markets, research, institutional equities, loan
syndication and other related business activities, stated the people.
• They stated the role of interim managing director Salil Pitale, who has been in the position since
Mehta’s resignation in 2018, after Mehra takes charge, is not yet clear.
• Last month, JM Financial Services brought in Chirag Negandhi of Axis Capital as a senior
management executive.
• Negandhi was a joint managing director and co-CEO at Axis Capital, where he spent nearly 14
years.
• In the Indian equity capital market league table for 2023, JM Financial Services was ranked sixth,
up from 11th in 2022.
• Conversely, Axis Capital fell to the ninth position from eighth during this period.
.
Former Manchester City Chief Omar Berrada Named New Man United CEO
• Manchester United appointed Omar Berrada as its new chief executive officer, the club stated in
a statement.
• Berrada's start date will be confirmed in due course, while Patrick Stewart will continue as interim
CEO.
• Berrada, regarded as one of the most experienced executives in European football, currently
holds the position of Director of Football Operations at City Football Group, where he oversees
11 clubs across five continents.
• He previously held senior positions at Barcelona.
• United, who currently sits seventh in the Premier League table, bolstered its squad in the
summer transfer window, with new signings including Rasmus Hojlund from Atalanta, Mason
Mount from Chelsea and Andre Onana from Inter Milan.
• In addition, British billionaire Jim Ratcliffe acquired a minority stake last year, signaling a new
beginning in the club's turnaround plan.
CM Revanth Reddy Appoints Key Advisors, Including Vemu Narender Reddy, Md Ali Shabbir
• Chief Minister A. Revanth Reddy appointed his confidant Vemu Narender Reddy as adviser
(public affairs) to the Chief Minister.
• Revanth Reddy appointed veteran Congress leaders Md Ali Shabbir as government adviser,
welfare of Backward Classes, Scheduled Castes, Tribes and minorities communities, Dr Mallu
Ravi as special representative of Telangana state in national capital and Harkara Venugopal Rao
as adviser to government (protocol and public relations).
• The appointments came as a shocker to Shabbir Ali and Ravi who were among the Congress
leaders who had embraced Revanth Reddy in his early days in the party and had backed his
candidature for the PCC.
Zaka Ashraf resigns as PCB Chairman
• Zaka Ashraf, the chairman of the Pakistan Cricket Board (PCB), has stepped down.
• He announced his decision to resign after chairing a managing committee meeting in Lahore.
.
• Ashraf, who headed the PCB in 2011-13 period, had replaced Najam Sethi at the helm in July
after a change in the political coalition ruling the country.
• In November last year, he was given a three-month extension to keep heading the PCB's
Management Committee.
• Many reasons are being attributed to Ashraf's sudden exit, one of them being his educational
qualification. He apparently is not a graduate.
• Before stepping down, he listed out his achievements, including a visit by the Board of Control for
Cricket in India (BCCI) team.
• The PCB statement highlighted the visit of the Roger Binny-led BCCI side, which crossed the
border during the Asia Cup in August.
CURRENT AFFAIRS: SUMMITS AND CONFERENCES

The 19th NAM Summit Begins in Uganda’s Kampala
● The two-day 19th Non-Aligned Movement (NAM) Summit to begin in Uganda’s Kampala.
● External Affairs Minister, Dr. S. Jaishankar is leading the Indian delegation.
● Minister of State for External Affairs, Shri V. Muraleedharan will represent India at the G-77
Third South Summit.
● G-77 Third South Summit will be held in Kampala on 21-22 January.
● Uganda is chairing the Non-Aligned Movement on behalf of Africa for the period 2022 to 2025.
● The concept of NAM emerged in the backdrop of World War II.
● The leaders of Yugoslavia, Egypt, India, Ghana and Indonesia agreed on the principles at the
Bandung Conference in 1955.
● The first conference was held in Belgrade in 1961.
About Uganda
● Capital: Kampala
● Currency: Ugandan Shilling
● Prime minister: Robinah Nabbanja
● President: Yoweri Museveni
MOUS AND AGREEMENT

REC Limited signs MoU with Rail Vikas Nigam Limited, to Finance Multi-Modal Infrastructure Projects
up to Rs. 35,000 crores over next 5 Years
.
● REC Limited has entered into an MoU with Rail Vikas Nigam Limited (RVNL) to finance up to Rs.
35,000 Crores for Infrastructure Projects to be executed by RVNL over the next 5 years.
● These projects constitute multi-modal logistics hub projects, rail infrastructure projects, road, port,
and metro projects where RVNL has forayed into.
● Director (Finance), REC, Shri Ajoy Choudhury and Director (Operations), RVNL, Shri Rajesh Prasad
signed the MoU in the presence of Shri V.K Dewangan, CMD, REC; Shri Sanjeeb Kumar, Director
(Finance), RVNL; Smt. Anupam Ban, DPE, RVNL and other senior officials from REC and RVNL.
● REC Limited, a Maharatna CPSE established in 1969, under the Ministry of Power, provides long-
term loans and other finance products for the Power-Infrastructure sector comprising Generation,
Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery
Storage and Green Hydrogen.
REC Limited and Bank of Baroda join hands 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.
Ministry of Defence signs contracts worth Rs 802 Crores for procurement of military equipment
• Ministry of Defence inked two contracts for procurement of Qty-697 Bogie Open Military (BOM)
Wagons for 473 Cr with M/s Jupiter Wagons Limited and procurement of Qty-56 Mechanical
Minefield Marking Equipment (MMME) Mark II at 329 Cr with M/s BEML Ltd, under Buy (Indian-
IDDM) category in New Delhi.
• The BOM Wagons and MMME will be produced with equipment and sub-systems 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.
Reliance, Disney ink non-binding agreement for mega-merger
.
• Reliance Industries Ltd (RIL) and Walt Disney Co signed a non-binding term sheet in London to
move ahead with plans to create India’s largest media and entertainment business, said people
with knowledge of the matter.
• The 51:49 stock-and-cash merger in favour of the Mukesh Ambani-led group is expected to get
finalised to complete all commercial ratifications and regulatory approvals by February, even
though RIL is keen to wrap it up by January end.
• The plan, as of now, is to create a step-down subsidiary of RIL’s Viacom18, which will absorb
Star India via a stock swap, said the people cited above.
• Reliance is pitching to be the larger shareholder with at least 51% in the merged company with
Disney owning the residual 49%.
Coal India Ltd Enters into MoU with National Skill Development Corporation to set up Multi Skill
Development Institutes under each Subsidiary
• Coal India Limited (CIL) has entered into a MoU with National Skill Development Corporation
(NSDC) for "Setting up of Multi Skill Development Institutes (MSDIs)”.
• The MoU was signed in the presence of Ms. Rupinder Brar, Additional Secretary, Ministry of Coal,
Sh. Vinay Ranjan, Director (P&IR), Coal India Limited and Sh. Manoj Kumar, CMD, EdCIL (India)
Ltd. along with Directors (Personnel) from CIL’s subsidiaries and dignitaries from Ministry of Coal
and other Coal Companies.
• As agreed in the MoU, one MSDI will be set up in each subsidiary with CCL, BCCL, MCL, NCL &
SECL covered in the first phase, and the remaining subsidiaries in the second phase.
• The existing infrastructure available at CIL subsidiaries will be developed as MSDIs.
• The project will cover one-time capex for repurposing of existing infrastructure as MSDIs and
Recurring & Project Monitoring Unit (PMU) expenses per year.
Coal India Limited Partners with EdCIL for Educational Transformation in Coal Mining Districts of
Jharkhand
• Coal India Limited (CIL), a Mah aratna PSU is committed to sustainable and socially responsible
practices.
• Under its Corporate Social Responsibility (CSR), CIL actively engages in initiatives to uplift the
education sector and empower the residents of its mining command areas through it.
• As incorporation of ICT (Information and Communication Technology) based learning is being
increasingly adopted as the modern means of pedagogy, CIL has entered into a MoU with EdCIL
(India) Limited for "Digitizing Education in eleven districts of Jharkhand" at New Delhi.
.
• The project will be implemented in 11 districts of Jharkhand within a period of three years.
• The estimated cost of the project is Rs. 27.08 crores.
ArcelorMittal partners with IIT Madras to create Hyperloop facility in TN
• Steel giant ArcelorMittal has partnered with the Indian Institute of Technology, Madras to build
"Asia's first" Hyperloop test track facility.
• The companies, ArcelorMittal and ArcelorMittal Nippon Steel India (AM/NS), are providing
foundational steel materials as well as engineering, design, and project management expertise to
support the construction of Asia's first Hyperloop test track at the 163-acre Discovery campus of IIT
Madras, located at Thaiyur on the outskirts of Chennai.
• ArcelorMittal is collaborating with the IIT Madras's Hyperloop Technology teams -- Avishkar
Hyperloop, a student team, and TuTr Hyperloop, a startup incubated in IIT Madras, for the project.
Coal India partners with EdCIL for education initiative in Jharkhand

• State-owned CIL has entered into an initial pact with EdCIL (India) Ltd for an education initiative in
11 mining districts of Jharkhand.
• EdCIL (India) Ltd is a consultancy and project management firm.
• The initiative is in line with the New Education Policy (NEP) 2020.
• The project will be implemented in 11 districts of Jharkhand within a period of three years.
• The estimated cost of the project is Rs 27.08 crore.
signed between Indian Railways and CII to promote and facilitate green initiatives
• Indian Railways has signed an MoU with Confederation of Indian Industry (CII) to reduce energy
and water consumption lowering GHG emissions.
• IR and CII have renewed their MoU for third consecutive term.
• Indian Railways, as a major stakeholder of the transportation sector in India shared the
responsibility of environment protection.
• IR, itself has set “Net Zero Carbon Emission” target by the year 2030.
• CII has been actively partnering with IR since July 2016 to promote and facilitate green initiatives
over Indian Railways.
NHPC and Gujarat govt sign MoU for ₹4,000 crore Investment in Kuppa Hydro project
• NHPC has signed an MoU with Gujarat Power Corporation Limited, Government of Gujarat for
investment in the proposed 750 MW Kuppa Pumped Hydro Storage Project.
.
• As per the MoU, NHPC will invest an estimated Rs. 4000 crores in the proposed project, situated
at Chhota Udaipur, Gujarat.
• NHPC and the Government of Gujarat plan to develop and utilize pumped hydro storage projects
as an effective solution for energy storage.
• The MoU aims to contribute towards the national objective of clean and green energy, i.e.
attainment of 500 GW of renewable energy capacity by 2030 and a “Net Zero” target by 2070.
India, UAE Seal Four MOUs at Gujarat Summit
• At the Vibrant Gujarat Global Summit, India exchanged four MOUs with the UAE.
• Addressing the media at Mahatma Mandir in Gandhinagar, Secretary of the Ministry of External
Affairs Vinay Mohan Kwatra, the MoUs are related to Investment cooperation in innovative
healthcare, renewable energy, food parks and logistics cooperation.
• Totally 35 countries have participated in the Vibrant Gujarat Global Summit as partner countries.
• Mr Kwatra also told the media that India and the Czech Republic agreed to build a strategic
partnership in fields such as research and technology at the Summit.
NTPC Green Energy Ltd. signs MoUs with GSPC and GPPL during Vibrant Gujarat Global Summit
• NTPC Green Energy Ltd (NGEL) has entered into MoUs with Gujarat State Petroleum
Corporation Ltd. (GSPC) and Gujarat Pipavav Port Ltd. (GPPL) during the three-day Vibrant
Gujarat Global Summit 2024, being held in Gandhinagar.
• The MoU with Gujarat State Petroleum Corporation Ltd. aims for the blending of Green Hydrogen
in the gas networks of GSPC and the promotion of Green Hydrogen mobility by setting up Green
Hydrogen fuelling stations in Gujarat.
• The MoU was exchanged between CMD, NTPC, Shri Gurdeep Singh and MD, GSPC, Shri Milind
Torawane; in the presence of Chief Minister of Gujarat Shri
Bhupendrabhai Patel; Minister of Finance, Energy & Petrochemicals, Government of Gujarat,
Shri Kanubhai Desai; Member, NITI Aayog, Dr. V. K. Saraswat and other senior officials and
international delegates.
• The MoU with Gujarat Pipavav Port Ltd. aims to develop a green hydrogen ecosystem including
production of green ammonia for export and the domestic market, at the land provided by GPPL.
India Post Payments Bank enter into MoU with Hindustan Zinc to offer financial inclusion services to its
CSR beneficiaries
• India Post Payments Bank (IPPB) & and Hindustan Zinc Limited (HZL – a subsidiary of Vedanta
Group) join forces to pioneer inclusive financial solutions.
.
• The collaboration will ensure in creating a lasting impact on the lives of community beneficiaries
around Hindustan Zinc’s operational areas.
• The MoU between IPPB & HZL was signed by Shri Gursharan Rai Bansal – Chief Sales &
Marketing Officer, IPPB and Shri Arun Misra – CEO, of Hindustan Zinc Joining hands with
Hindustan Zinc Ltd.
About India Post Payments Bank
• India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of
Communication with 100% equity owned by Government of India.
• The IPPB was launched on September 1, 2018.
• The bank has been set up with the vision to build the most accessible, affordable and trusted bank
for the common man in India.
• The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked &
underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post
Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.
About Hindustan Zinc
• Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest
integrated Zinc producer and 5th largest Silver producer.
• The company governs about 80% of the growing Zinc market in India with its headquarters at
Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.
South Korean firm Simmtech signs MoU worth Rs1,250 crore for creating semiconductor ecosystem in
Gujarat
• Union Minister for Electronics and Information Technology Ashwini Vaishnav revealed this during
a seminar, part of ongoing Vibrant Gujarat Global Summit in Gandhinagar.
• The South Korean firm Simmtech has signed an MoU with the state government to set up its plan
close to Micron in Sanand near Ahmedabad city.
• Vaishnav stated that the company deals in manufacturing semiconductor substrates, the
supporting material upon which elements of a semiconductor device are fabricated.
• He stated that the South Korean firm has been allotted 30 acres of land and the work will start in
the next two-three months.
India Signs Agreement for Lithium Exploration & Mining Project in Argentina
● Ministry of Mines, Government of India has achieved a significant milestone with the signing of
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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 (CAMYE N 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 1.
● Cortadera-I, 2. Cortadera-VII, 3. Cortadera-VIII, 4. Cateo-2022-01810132 and 5.
● 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.
● Khanij Bidesh India Limited (KABIL), is a joint venture between NALCO, Hindustan Copper,
and Mineral Exploration.
IREDA, the Indian Renewable Energy Development Agency, has partnered with the Indian Overseas
Bank to co-lend for Renewable Energy Projects.
● The Indian Renewable Energy Development Agency Ltd. (IREDA) and the Indian Overseas
Bank (IOB) have signed a Memorandum of Understanding (MoU) to work together in co-
lending and loan syndication for various Renewable Energy projects across India.
● The collaboration will cover a wide range of projects in the sector.
● 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, Dr. R. C. Sharma and Chief Regional Manager, IOB, Shri Anil Kumar in the presence
of Chairman & Managing Director of IREDA, Shri Pradip Kumar Das; MD & CEO of IOB, Shri
Ajay Kumar Srivastava; and Director (Finance), IREDA, Dr. Bijay Kumar Mohanty.
● This collaboration builds upon IREDA’s successful partnerships with other prominent financial
institutions, including Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure
Finance Company Limited and Bank of Maharashtra.
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● These MoUs similarly focus on co-lending and loan syndication for a wide range of Renewable
Energy projects across the country.
India and Cuba have signed a Memorandum of Understanding for cooperation in sharing successful
digital solutions implemented for digital transformation at a population scale.
● An MoU has been signed between Ministry of Electronics and Information Technology of the
Republic Of India and the Ministry of Communications of the Republic of Cuba on Cooperation
in the field of Sharing Successful Digital Solutions Implemented at the Population Scale for
Digital Transformation
● The signatories were Shri S Krishnan, Secretary, MeitY from India’s side and E. Mr. Wilfredo
Gonzalez Vidal, First Deputy Minister of Communications, from Cuba’s side.
● The MoU intends to promote digital transformation (viz. INDIA STACK) through capacity-
building programs, exchange of best practices and other collaborative activities to mutually
benefit the digital ecosystems of both countries.
● India will collaborate with Cuba by building upon development partnership on digital
transformation leading to a smooth adoption of Digital Public Infrastructure in Cuba.
About Cuba
● Capital: Havana
● Currency: Cuban Peso
● Prime minister: Manuel Marrero Cruz
NGEL signs MoU with Government of Maharashtra for development of Green Hydrogen Projects
• NTPC Green Energy Limited (NGEL) has signed a Memorandum of Understanding (MoU) with the
Government of Maharashtra for development of Green Hydrogen and derivatives (Green Ammonia,
Green Methanol) of up to 1 million Ton capacity per annum, including Pumped Storage Projects of 2
GW and development of renewable energy projects with or without storage up to 5 GW in the state.
• The MoU has been signed as a part of the Government of Maharashtra’s Green Investment Plan for
the next five years.
• The agreement envisages a potential investment of approximately ₹ 80, 000 crores.
• The MoU was exchanged between Chief Executive Officer, NGEL, Shri Mohit Bhargava and Deputy
Secretary (Energy), Government of Maharashtra, Shri Narayan Karad in the presence of Chief
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Minister of Maharashtra Shri Eknath Shinde, Deputy Chief Minister of Maharashtra, Shri Devendra
Fadnavis and other senior officials.
• NTPC is in the path of building renewable energy capacity of 60 GW by 2032.
About NGEL:
• NGEL is a wholly-owned subsidiary of NTPC and aims to be the flag bearer of NTPCs Renewable
Energy journey with an operational capacity of over 3.4 GW and 26 GW in pipeline including 7 GW
under implementation.
Reliance Jio, OnePlus join hands to set up 5G innovation lab in India
• Telecom major Reliance Jio and Chinese smartphone company OnePlus have joined hands to set
up a 5G innovation lab in India.
• The alliance between OnePlus and Jio aims to provide OnePlus and Jio True 5G users differentiated
features and an unparalleled network experience.
• The lab will serve as a hub for testing and developing new technologies.
• Reliance Jio leads the India market in terms of 5G coverage.
Madhya Pradesh and Rajasthan states signed a Memorandum of Understanding (MoU) with the
Government of India regarding the Modified Parbati-Kalisindh-Chambal-ERCP (PKC-ERCP) Link
Project.
• The Government of India has achieved another milestone in the water management sector,
particularly in the interlinking of rivers (ILR) program And this is a significant moment for the people
of Rajasthan and Madhya Pradesh, as both states signed an MoU with the Ministry of Jal Shakti
(MoJS), Government of India (GoI) in New Delhi.
• The MoU is for the implementation of the “Modified PKC-ERCP” which integrates the original PKC
with the Eastern Rajasthan Canal Project of Rajasthan.
• This is the second project under the national perspective plan of the ILR program.
• The MoU was signed by Dr. Rajesh Kumar Rajora, ACS, WRD, Govt. of MP, Sh. Abhay Kumar,
ACS, WRD, Govt. of Rajasthan and Smt. Debashree Mukherjee, Secretary, DoWR,RD&GR, MoJS,
GoI on broad planning of the Parbati-Kalisindh-Chambal (PKC) link duly integrated with Eastern
Rajasthan Canal Project (ERCP) and preparation of its DPR.
• The Union Minister of Jal Shakti, Sh. Gajendra Singh Shekhawat, Sh. Mohan Yadav, Hon’ble Chief
Minister of Madhya Pradesh and Sh. Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan graced
the occasion.
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• Sh. Shriram Vedire, Chairman of the Task Force on Interlinking of Rivers and other officials of MoJS
and states of Madhya Pradesh and Rajasthan were present on the occasion.
• The Feasibility Report (FR) of Parbati-Kalisindh-Chambal (PKC) link project under National
Perspective Plan (NPP) was prepared and circulated to the concerned State Governments in
February-2004.
• In the year 2019, Rajasthan came up with the proposal of ERCP. With a view to utilize the water
resources optimally, the integration of the Parbati-Kalisindh-Chambal (PKC) link of NPP with Eastern
Rajasthan Canal Project (ERCP) was discussed in 11th and 12th meetings of the Task Force for
Interlinking of Rivers (TFILR) in year 2019.
Ministry of Rural Development and Lady Irwin College renews MoU
• Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM), Ministry of Rural
Development (MoRD), and Lady Irwin College, University of Delhi, have renewed a Memorandum of
Understanding (MoU).
• During the five-year term of MoU, MoRD will work with ROSHNI – Centre of Women Collectives led
Social Action (CWCSA), to strengthen interventions for better results of Food, Nutrition, Health and
WASH (FNHW) for rural communities.
• Director of Lady Irwin College is the Chairperson of ROSHNI-CWCSA.
• This initiative will enhance capacity building of community resource persons (CRP) for FNHW and
gender interventions.”
• ROSHNI-CWCSA is supported by UNICEF India technically and financially
ROSHNI assists DAY-NRLM to improve food, nutrition, health, and WASH (FNHW) outcomes for 9.96
crore Self Help Group (SHG) members and their households across the country.
REC Limited and National Investment and Infrastructure Fund Limited to fund renewable and
infrastructure projects together.
• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a
leading NBFC, has signed a Memorandum of Understanding (MoU) with the National Investment
and Infrastructure Fund Limited (NIIFL) to collaborate on a suite of funding solutions for Renewable
Energy Projects as well as large-scale infrastructure projects in India.
• The MoU was signed by Executive Director (Finance), REC, Shri Daljeet Singh Khatri and Executive
Director & Chief Strategy Officer, NIIFL, Shri Prasad Gadkari, in the presence of CMD, REC, Sh.
Vivek Kumar Dewangan and CEO and MD, NIIFL, Shri Rajiv Dhar.
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About REC Limited

• REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking
Finance Company (NBFC), and Infrastructure Financing Company (IFC).
SJVN inks pact to provide technical consultancy services to NHAI

• State-owned power producer SJVN has signed an agreement with NHAI to provide technical
consultancy services for highway projects.
• The primary focus of this MoU is to utilise the expertise of SJVN in Technical Consultancy Services.
• This consultancy service will be initially provided for a period of 24 months by SJVN to NHAI.
About SJVN
• SJVN, formerly known as Satluj Jal Vidyut Nigam, is an Indian public sector undertaking involved in
hydroelectric power generation and transmission.
• It was incorporated in 1988.
• It a joint venture between the Government of India and the Government of Himachal Pradesh.
The CSIR-Human Resource Development Centre has signed Memorandums of Understanding (MoUs)
with four Sector Skill Councils.
• The CSIR-Human Resource Development Centre (CSIR-HRDC), Ghaziabad (UP) signed a
collaborative Memorandum of Understanding (MoU) with M/s Agriculture Skill Council of India
(ASCI), Capital Goods & Strategic Skill Council (CGSSC), Hydrocarbon Sector Skill Council (HSSC)
and Life Sciences Sector Skill Development Council (LSSSDC).
• The MoU envisages to create an enabling environment for CSIR and Indian industry.
• CSIR launched a national-level unique Program “CSIR Integrated Skill Initiative” in 2016 to equip
young minds with the necessary technological skills through exposure to CSIR laboratories and
address the critical needs for the technical gap created by the enormous usage of advanced
technology.
• Beneficiaries from this initiative include school dropouts, farmers, ITI diploma holders, graduates and
doctorates.
• CSIR has so far trained over 1.50 lakh individuals, under this Initiative, through 4500+ skill-based
trainings, including special programs for rural citizens and women.
• Under this programme, Biological, Chemical, Engineering, Information and Physical Sciences of
broad scientific clusters of CSIR are covered.
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• CSIR-Human Resource Development Centre (HRDC), Ghaziabad (UP), the centralised training unit
of CSIR and the Nodal Office of Skill initiative, has been playing a significant role by periodically
reviewing, monitoring and evaluating the performance of the Initiative.

Pakistan conducts successful flight test of indigenously developed rocket system Fatah-II
• Pakistan has successfully conducted the flight test of the indigenously developed rocket system
known as Fatah-II.
• Fatah-II is a guided multi-launch rocket system developed by Pakistan.
• Fatah-II is capable of hitting targets with high precision up to a range of 400 kilometres.
About Pakistan:
• Currency: Rupee
NASA Reinitiates Spacecraft Mission to Study 'God of Chaos' Asteroid Apophis
● The National Aeronautics and Space Administration (NASA) has relaunched the OSIRIS-REx
spacecraft to intercept the 'God of Chaos' asteroid Apophis as it approaches Earth's orbit.
● The OSIRIS-REx spacecraft has returned from deep space after collecting samples from the
space rock Bennu.
● The spacecraft has been renamed OSIRIS-APEX (Origin, Spectral Interpretation, Resource
Identification, and Security–Apophis Explorer).
● OSIRIS-APEX is now tasked with studying the asteroid Apophis, which is expected to have a
close pass by Earth in 2029.
● Apophis is known as the "God of Chaos" and is anticipated to fly by Earth on April 13, 2029, at a
distance of about 20,000 miles.
India’s ISRO to use Elon Musk’s SpaceX Falcon-9 rocket to launch GSAT-20 satellite
• For the first time, the commercial arm of the Indian Space Research Organisation (ISRO) will
launch a communication satellite on a SpaceX rocket.
• Using SpaceX's services for the first time, ISRO will deploy its heavy communications satellite
GSAT-20 via the Falcon-9 rocket in mid-2024.
• This will be India's first partnership with a venture led by billionaire Elon Musk who also wants to
expand his other businesses in the country.
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• GSAT-20 (renamed as GSAT-N2) is a high throughput Ka-band satellite.

• Ka-band satellites deliver high-speed broadband internet connectivity and digital video and audio
transmission.
About ISRO :
Researchers develop ‘electronic soil’ that enhances crop growth by 50%

• Scientists have developed an electrically conductive "soil" named eSoil, leading to a 50% increase
in barley seedling growth in 15 days.
• This soilless cultivation method, known as hydroponics, uses a root system that is stimulated
electrically through a new cultivation substrate.
• The team developed an electrically conductive cultivation substrate, tailored to hydroponic
cultivation, that they call eSoil.
• The eSoil is made of cellulose.
• It is a biopolymer mixed with a conductive polymer called PEDOT.
Ammonia gas leak in Chennai's Ennore

• Ammonia gas leaked from a fertiliser manufacturing unit in Ennore, north Chennai.
• Residents experienced shortness of breath and nausea due to the gas leak.
• More than 50 people were kept under observation in hospitals as a result of the gas leak.
• The gas leak was plugged in by specialists within 20 minutes.
• Ammonia (NH3) is a pungent gas composed of nitrogen and hydrogen.
• It is a poisonous gas with a familiar noxious odour.
Israel Approves $3.2 Billion Grant to Intel for Construction of $25 Billion Chip Plant
• Israel's government agreed to give Intel Corp a $3.2 billion grant for a new $25 billion chip plant it
plans to build in southern Israel.
• The chip plant will be an expansion of Intel's existing Kiryat Gat site.
• The $3.2 billion grant constitutes 12.8% of the total investment in the new chip plant.
• Intel has committed to purchasing $16.6 billion (60 billion shekels) worth of goods and services
from Israeli suppliers over the next decade.
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• The new facility is expected to generate several thousand jobs in the region.
• The new plant is due to open in 2027 and operate through 2035.
About Israel :
• President : Isaac Herzog
• Prime Minister : Benjamin Netanyahu
• Capital : Jerusalem
• Currency : New shekel
ISRO's Vikram Sarabhai Space Centre Unveils 'FEAST' Analysis Software for Indian Academia and
Industries
• The Vikram Sarabhai Space Centre (VSSC) of the Indian space agency Indian Space Research
Organisation (ISRO) has developed an analysis software 'FEAST' for Indian academia and
industries.
• Purpose of FEAST Software : FEAST is designed for use in performing Finite Element Analysis
(FEA) of various structures, including rockets, aircraft, satellites, buildings, etc.
• Functionality of FEAST : The software predicts how a component or structure reacts to real-world
forces such as structural loads, thermal conditions, and other physical effects.
About ISRO :
AstroSat Identifies Rapid X-ray Bursts from Neutron Star with High Magnetic Field
• AstroSat, India’s first multi-wavelength space-based observatory, has detected bright sub-second
X-ray bursts from a new and unique neutron star with an ultrahigh magnetic field (magnetar).
• Magnetars are neutron stars having an ultrahigh magnetic field that are much stronger than the
terrestrial magnetic field.
• The field is about 1,000 times stronger than a normal neutron star and about a trillion times
stronger than the Earth’s.
• Apart from ultra-powerful magnetic fields, magnetars also release vast amounts of energy in the
form of flares, X-rays, and gamma-ray bursts.
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Reliance Jio and IIT-Bombay Collaborate to Develop 'BharatGPT' AI for India

• Reliance Jio Infocomm, an Indian telecom operator in India, is set to launch a groundbreaking
initiative in collaboration with the Indian Institute of Technology (IIT) Bombay — the 'Bharat GPT'
program.
• Announced by Akash Ambani, the chairman of Reliance Jio, this program aims to leverage the
power of large language models and generative artificial intelligence (GPT) to transform various
sectors in the country.
• The Bharat GPT program is part of Jio's broader vision, known as "Jio 2.0". Its main aim is to
create a comprehensive ecosystem of development.
Tata Motors introduces 1st pure Electric Vehicle architecture called 'acti.ev'
• Tata Motors introduced the first pure electric vehicle (EV) architecture called ‘acti.ev’, which will
underpin its future portfolio of EVs such as Punch, Sierra, Harrier and Curvv.
• Punch.ev will be the first product based on this pure electric architecture, which will spawn a slew
of vehicles with multiple body styles and sizes.
• The ‘acti.ev’ architecture will be different from the electrified modular architecture (EMA) that Tata
Motors will be sourcing from Jaguar Land Rover (JLR) for the development of ‘Avinya’ range of
cars.
• Tata Motors' EV arm signed a licensing pact with JLR in November 2022 for the electrified
modular architecture (EMA).
ISRO Conducts Successful Test of Fuel Cell for Potential Application in Space Missions
• The Indian Space Research Organisation (ISRO) has successfully demonstrated a fuel cell that
utilises hydrogen and oxygen to generate electricity, producing heat and water as byproducts.
• A fuel cell is a device that generates electricity from fuel and air through electrochemical reactions,
without combustion, thus avoiding pollutants associated with high flame temperatures
• The fuel cell, sent to space on the fourth stage of the PSLV on January 1, generated 180W of
power during a short-duration test.
• ISRO Chairperson S Somanath mentioned that the fuel cell, designed by the Vikram Sarabhai
Space Centre (VSSC), serves as a precursor to future power systems for space stations.
About ISRO :
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SpaceX's Falcon 9 Successfully Launches First Batch of Starlink Satellites Capable of Beaming Phone
Signals from Space
• Elon Musk’s SpaceX launched its first batch of Starlink satellites with direct-to-cell capability
aboard the Falcon 9 spacecraft.
• A total of 21 Starlink satellites were sent into low-Earth orbit from Space Launch Complex 4 East
(SLC-4E) at Vandenberg Space Force Base in California.
• The mission incorporated the deployment of the initial six Starlink satellites equipped with Direct-
to-Cell capabilities.
• They have advanced modems onboard, known as eNodeBs.
About SpaceX :
• Founded : March 14, 2002
• Headquarters : Hawthorne, California, United States
• CEO & Chairman : Elon Musk
• SpaceX, is an American spacecraft manufacturer, launch service provider and satellite
communications company.
IISc Bengaluru comes up with warm vaccine against current strains of SARS-CoV-2
• Researchers at the Indian Institute of Science (IISc) have created a COVID-19 vaccine that can
remain stable in high temperatures, and is reportedly capable of combating all existing strains of
SARS-CoV-2
• The vaccine, called RS2, a hybrid synthetic antigen, is made using two key parts of the SARS-
CoV-2’s spike protein – the S2 subunit and the Receptor Binding Domain (RBD).
• According to IISC, the vaccine is capable of preventing infection against all four current COVID
variants of concern, Alpha, Beta, Gamma and Delta, and their
existing subvariants.
First tests for Indian Space Station expected next year: ISRO chief
● ISRO plans to carry out the first tests of the proposed Bharatiya Space Station next year and
talks are on with the industry to manufacture, test and launch its first module by 2028, the
space agency’s chief S Somanath stated.
● Interacting with reporters on the sidelines of the India International Science Festival, he stated
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India’s first mission to Venus is also likely to be launched in 2028 and engineers are working
on bringing down costs on certain high-value components.
● Last year, Prime Minister Narendra Modi set ISRO a target to launch the Bharatiya Space
Station by 2035 and land an Indian astronaut on the moon by 2040.
About ISRO:
● Chairperson: Somanath
● Owner: Government of India
Japan aims for Lunar success with smart lander mission on January 20
● In a bid to overcome setbacks, Japanis set to attempt a soft landing on the moon’s surface
with the Smart Lander for Investigating Moon early on January 20.
● The country seeks to join the exclusive club of nations achieving a successful soft landingon
the moon.
● The United States, Russia (erstwhile USSR), China, and India have accomplished this feat,
leaving Japan eager to overcome its exclusion.
● Designed to land within 100 meters of its target, SLIM aims to revolutionise lunar exploration.
● JAXA Director Hiroshi Yamakawa envisions the mission enabling precise landings, marking a
new era in lunar exploration.
Historical Rivalry and Recent Challenges
● Japan, having launched its first satellite ahead of China in 1970, has faced challenges in
recent years.
● China’s notable achievements, including a soft landing on the moon’s far side in 2019 and a
Mars landing in 2021, have added pressure on
● Despite past lunar attempts, Japan’s space agency, JAXA, faced setbacks with a lunar lander
in 2022 and a communication failure with a craft in April 2023. Technical challenges, including
the failure of the H3 heavy-lift rocket and an explosion involving the Epsilon rocket, have also
impeded progress.
● Major Japanese corporations, including Toyota and Honda, are now collaborating
with JAXA on lunar projects.
● Success in lunar exploration could strengthen Japan’s position in the evolving “moon
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economy.” Corporate partnerships with entities such as Japan Airlines, Mitsui Sumitomo
Insurance, and Citizen.
Strategic Importance and Security Concerns
● Internationally, Japan aims to enhance its security presence in space.
● The recent addition of spy satellites to Japan’s network aligns with the regional race for space
● In the face of competition, reinforcing space-based surveillance and communication
capabilities is crucial for military purposes.
● As Japan sets its sights on the lunar landing, the mission will be live-streamed on JAXA’s
YouTube channel, providing transparency and engagement with the public. The expected
landing shortly after midnight on January 20 Tokyo time marks a significant moment in
Japan’s space exploration endeavours.
Japan becomes 5th country to land a spacecraft on the moon
● Japan became the 5th country in history to reach the moon when one of its spacecraft
successfully made a soft landing on the lunar surface.
● Japan follows the United States, the Soviet Union, China and India in reaching the moon.
● SLIM landed on the moon at about 12:20 a.m. Tokyo time.
● SLIM, which was aiming to hit a very small target, is a lightweight spacecraft about the size of
a passenger vehicle.
● It was using “pinpoint landing” technology that promises far greater control than any previous
moon landing.
● While most previous probes have used landing zones about 10 kilometers (six miles) wide,
SLIM was aiming at a target of just 100 meters (330 feet).
● A landing of such precision would be a world’s first, and would be crucial technology for a
sustainable, long-term and accurate space probe system, stated Hiroshi Yamakawa, president
of Japan Aerospace Exploration Agency, or JAXA.
About SLIM:
● SLIM, nicknamed “the Moon Sniper,” started its descent at midnight.
● The SLIM, equipped with a pad each on its five legs to cushion impact, was aiming to land
near the Shioli crater, near a region covered in volcanic rock.
● SLIM was launched on a Mitsubishi Heavy H2A rocket in September.
● It initially orbited Earth and entered lunar orbit on Dec. 25.
● SLIM was carrying two small autonomous probes — lunar excursion vehicles LEV-1 and LEV-
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2, which officials say were believed to have been released just before landing.
● LEV-1, equipped with an antenna and a camera, is tasked with recording SLIM’s landing.
● LEV-2, is a ball-shaped rover equipped with two cameras, developed by JAXA together with
Sony, toymaker Tomy and Doshisha University.
INSAT-3DS satellite sent to launch port in Sriharikota
• India is set to enhance its meteorological monitoring capabilities with the launch of INSAT-3DS, an
advanced weather satellite developed by the Indian Space Research Organisation (ISRO).
• Scheduled for a February liftoff aboard the GSLV-F14 rocket, this state-of-the-art satellite will play a
pivotal role in weather forecasting and disaster management.
• The satellite has been sent to the Satish Dhawan Space Centre to be integrated with the rocket for
a launch from Sriharikota.
About INSAT-3DS:
• INSAT-3DS is designed as a successor to the existing in-orbit satellites INSAT-3D and INSAT-3DR,
aiming to provide uninterrupted services and significantly improve the overall capabilities of the
INSAT system.
• INSAT stands for the Indian National Satellite System that provides various services, including
telecommunications, broadcasting, meteorology, and search and rescue operations.
• The INSAT-3DS satellite was recently flagged off to the Satish Dhawan Space Centre (SDSC)
SHAR in Sriharikota on January 25, following the successful completion of assembly, integration,
and testing at the U R Rao Satellite Centre in Bengaluru.
• This mission is a user-funded project in collaboration with the Ministry of Earth Science (MoES),
and it showcases the substantial contributions made by Indian industries in its development.
WHAT WILL INSAT-3DS CARRY TO SPACE?
• Built around ISRO's reliable I-2k bus platform, INSAT-3DS has a lift-off mass of 2,275 kg and is
equipped with cutting-edge payloads for enhanced meteorological observation.
• The satellite's sophisticated instruments include a 6-channel Imager and a 19-channel Sounder,
which are meteorological payloads designed to monitor land and ocean surfaces.
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• These tools will provide critical data for accurate weather forecasting and early warning systems for
natural disasters, thereby bolstering India's preparedness and response strategies.
• Additionally, INSAT-3DS carries communication payloads such as the Data Relay Transponder
(DRT) and the Satellite Aided Search and Rescue (SAS&R) transponder.
• The DRT will receive data from automatic Data Collection Platforms and Automatic Weather
Stations (AWS), enhancing the country's weather forecasting capabilities.
The SAS&R transponder is a vital component for global search and rescue operations, as it is designed
to relay distress signals and alert detections
Aditya L1 update: Isro successfully deploys magnetometer boom in halo orbit

• The Aditya-L1 spacecraft has successfully deployed its 6-meter-long magnetometer boom in
space at Lagrange Point-1.
• The deployment took place on January 11, 2024, while the satellite was stationed in a halo orbit
at the Lagrange point L-1, marking 132 days since the spacecraft's launch.
Magnetometer Boom:
• The magnetometer boom is a critical component of the Aditya-L1 mission, which aims to study
the Sun's chromosphere and corona, as well as the interplanetary magnetic field.
• The boom carries two advanced fluxgate magnetometer sensors that are essential for measuring
the low-intensity magnetic fields in space.
• These sensors are strategically placed at distances of 3 and 6 meters from the main body of the
spacecraft to minimise interference from the spacecraft's own magnetic field.
• The use of dual sensors allows for a more accurate estimation of this influence and helps cancel
out any magnetic effects originating from the spacecraft itself.
Other Highlights:
• Constructed from carbon fiber-reinforced polymer, the boom segments act as interfaces for
sensor mounting and contain the mechanism elements necessary for deployment.
• The boom's design includes an articulated mechanism with five segments connected by spring-
driven hinge mechanisms.
• This allows the boom to fold and deploy in an accordion-like fashion, a process controlled by a
patented Kevlar closed control loop mechanism.
• Once deployed, the hinges lock the segments into their operational configuration.
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• During the launch phase, the boom was held securely in place by two hold-downs, which
transferred the launch loads to the spacecraft body.
• To initiate deployment, a thermal cutter-based release system was activated upon command.
• Telemetry data confirmed the successful release of the hold-downs, the initial motion of the
boom, and the locking of all hinges.
• Impressively, the in-orbit deployment time was recorded at approximately 9 seconds, falling
within the predicted range of 8 to 12 seconds.
• All telemetry indications for hinge locking and hold-down release were reported to be within
nominal parameters, indicating a flawless deployment operation.
• This achievement marks a significant step forward for the Aditya-L1 mission, as the fully
deployed magnetometer boom will now enable scientists to gather precise measurements of the
interplanetary magnetic field, furthering our understanding of solar phenomena and their impact
on space weather.
• The success of this deployment demonstrates the advanced capabilities of India's space
technology and its contributions to solar physics research.
North Korea Conducts Test of Underwater Nuclear Weapon System
● North Korea has conducted a test of its underwater nuclear weapons system in a protest against
this week's joint military drills by South Korea, the United States and Japan.
● The test of the "Haeil-5-23" , a name North Korea has given to its nuclear-capable underwater
attack drones, was carried out by the defence ministry's think tank in the waters off its east coast.
● Haeil", which means tsunami, is the new Nuke drone system that was first reportedly tested in
March 2023.
● It was intended to make sneak attacks in enemy waters and destroy naval strike groups and
major operational ports by creating a large radioactive wave through an underwater explosion.
● In Sep 2023, North Korea launched its first operational “tactical nuclear attack
submarine”,Submarine No. 841 – named Hero Kim Kun Ok.
About North Korea :
● Capital : Pyongyang
● Currency : Korean People's won
.
Cameroon Takes Lead as 1st Nation to Introduce New Malaria Vaccine for Children
● Cameroon, a Central African Country became the first country to begin immunising children with
malaria vaccine as part of its national immunisation program.
● The country began receiving doses of RTS,S/AS01 (Mosquirix), a vaccine developed by GSK
that has been in the making for more than 30 years, in November.
● The vaccine was part of a pilot program in a handful of other African countries, but is now poised
for a broader rollout across that continent, which bears the world's biggest burden, especially its
children.
● The country's malaria vaccine program, with a four-dose schedule, targets all children who were
6 months or older on December 31, 2023.
● In Africa, there are about 250 million cases of the parasitic disease each year, including 6,00,000
deaths, mostly in young children.
About Cameroon :
● President : Paul Biya
● Prime Minister : Joseph Ngute
● Capital : Yaoundé
● Currency : Central African CFA franc (XAF)
Indian Immunologicals Limited launches 1st indigenously developed Hepatitis A vaccine, 'Havisure'
● Hyderabad-based Indian Immunologicals Ltd (IIL) a wholly owned subsidiary of National Dairy
Development Board (NDDB) and a leading biopharmaceutical company in India launched India’s
first indigenously developed Hepatitis A vaccine ‘Havisure’ in Hyderabad.
● It is a two-dose vaccine-first dose administered at above 12 months of age and the second at
least six months after the first dose.
● The vaccine is recommended for children as part of the routine immunisation as well as for
individuals at risk of exposure or travel to the regions with high hepatitis A prevalence.
● In addition to this people with occupational risk of infection and suffering from chronic liver
diseases also require Hepatitis A vaccination.
About Hepatitis A :
● It is an inflammation of the liver caused by the hepatitis A virus (HAV).
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● The virus is primarily spread when an uninfected (and unvaccinated) person ingests food or
water that is contaminated with the faeces of an infected person.
Types of Hepatitis :
● Hepatitis can be an acute (short-term) infection or a chronic (long-term) infection.
● Different causes, including viral (A, B, C, D, E), alcoholic, toxic, and autoimmune hepatitis.
Types of Viral Hepatitis :
● Common Type: Viral hepatitis caused by hepatitis viruses A, B, C, D, and E.
● Alcoholic hepatitis is caused by heavy alcohol use.
● Toxic hepatitis can be caused by certain poisons, chemicals, medicines, or supplements.
● Autoimmune hepatitis is a chronic type in which your body's immune system attacks your liver.
The cause is not known, but genetics and your environment may play a role.
Other Government Initiatives to tackle Hepatitis :
● National Viral Hepatitis Control Program (NVHCP)
➢ The National Viral Hepatitis Control Program has been launched by the Ministry of Health
and Family Welfare, Government of India on the occasion of World Hepatitis Day, 28th
July 2018.
➢ It is an integrated initiative for the prevention and control of viral hepatitis in India to
achieve Sustainable Development Goal (SDG) 3.3 which aims to end viral hepatitis by
2030.
➢ This is a comprehensive plan covering the entire gamut from Hepatitis A, B, C, D & E, and
the whole range from prevention, detection, and treatment to mapping treatment
outcomes.
● India’s Universal Immunization Programme (UIP):
➢ In this Programme Hepatitis B is included under India’s UIP which provides free of cost
vaccination.
● In Nov 2023, Indian Immunologicals Limited (IIL) launched the Mabella (Measles and Rubella)
vaccine for children, a significant achievement in exclusive partnership with Polyvac Institute,
Vietnam.
Iran successfully launches Sorayya satellite in orbit
.
● Iran has achieved a significant milestone in its space program with the successful launch and
operation of its domestically-developed satellite, Soraya.
● The Soraya, which was launched into orbit approximately 750 kilometres above Earth’s surface,
has transmitted its first signal back to Earth.
● The launch was part of Iran’s Revolutionary Guards’ space programme alongside Iran’s civilian
space programme.
● The U.S. intelligence community’s 2023 worldwide threat assessment stated that the
development of satellite launch vehicles “shortens the timeline” for Iran to develop an
intercontinental ballistic missile because it uses similar technology.
● The satellite is built by the elite military revolutionary guards.
About Soraya satellite :
● The Soraya satellite, weighing 47 kilograms and designed for research and telecommunication
purposes, has an expected lifespan of three years.
● It was launched using the Qaem-100, a three-stage solid-fuel launch vehicle developed by the
Aerospace Division of Iran’s Islamic Revolutionary Guard Corps (IRGC).
● The Soraya satellite was manufactured by the Iranian Space Research Center.
● In December,2023 Iran sent a capsule into orbit capable of carrying animals as it prepares for
human missions in the coming years.
About Iran :
NISAR Mission on track for early 2024 launch, says JPL official
• The NASA-ISRO Synthetic Aperture Radar (NISAR) mission, designed to observe natural
processes and changes in earth’s complex ecosystems, is on track for an “early 2024” launch, a
senior official at NASA’s Jet Propulsion Laboratory (JPL) stated.
• This groundbreaking collaboration between the American and Indian space agencies promises
to shed unprecedented light on our planet’s dynamic processes and the intricate ecosystems
that sustain us.
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• NISAR boasts a cutting-edge radar system that will peer through clouds and darkness, providing
a continuous global view of Earth’s land, ice, and ocean surfaces.
• Its dual-frequency radar technology will reveal details invisible to the naked eye, allowing
scientists to track subtle changes in Earth’s systems with remarkable precision. The mission’s
scope is vast and ambitious. NISAR will monitor a multitude of phenomena, including:
• Landmass movements: Detecting earthquakes, volcanic eruptions, and landslides before they strike.
• Melting ice sheets and glaciers: Understanding the impact of climate change on Earth’s cryosphere.
• Shifting ecosystems: Monitoring deforestation, agricultural practices, and changes in vegetation
cover.
• Natural disasters: Tracking hurricanes, floods, and other extreme weather events.
• Coastal erosion: Studying the dynamics of shorelines and predicting coastal hazards.
• NISAR is a testament to the power of international collaboration in advancing scientific
discovery.
• The joint efforts of NASA and ISRO have brought together expertise, resources, and
technologies to create a mission with the potential to transform our understanding of Earth.
AIIMS and IIT-Delhi collaborate to develop cost-free tracheoesophageal prosthesis, paving the way for
speech restoration in throat cancer patients
• In a noteworthy collaboration between the Department of Ear, Nose, and Throat (ENT) at Delhi-
AIIMS and IIT-Delhi, a notable milestone has been reached with the creation of a valve,
commonly referred to as a tracheoesophageal prosthesis.
• This cutting-edge device is designed to enhance speech restoration for individuals who have
undergone voice box removal following throat cancer.
• This development is particularly noteworthy for economically disadvantaged patients, as the
valve provides major relief by being available free of charge at AIIMS.
• In contrast, similar valves on the market are often sold at expensive rates, ranging between Rs
35,000 and Rs 40,000.
• The valve is currently in its phase one trial, with initial usage among 20 patients.
• The team at AIIMS is committed to making it the best globally, and further evaluations will focus
on its safety measures.
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• The tracheoesophageal prosthesis, which is essentially a medical device, plays a crucial role in
restoring the connection between the trachea and the esophagus.
• This reconnection is vital for fundamental functions such as breathing, swallowing, and speaking.
• Commonly used in cases where individuals have undergone a laryngectomy, the surgical
removal of the larynx (voice box), this procedure is typically necessary in advanced laryngeal
cancer cases.
• Following a laryngectomy, the natural connection between the trachea and the oesophagus is
disrupted, making innovations like the tracheoesophageal prosthesis essential for improving the
quality of life for affected individuals.
DEFENCE NEWS
Indian Navy's Elite Marine Commandos Effectively Rescue 21 Crew Members, Including 15 Indians,
from MV Lila Norfolk
• The Indian Navy's elite marine commandos successfully rescued 21 crew members, including 15
Indians, from the Liberian-flagged vessel MV Lila Norfolk.
• The merchant vessel MV Lila Norfolk sent a distress message on the United Kingdom Maritime
Trade Operations (UKMTO) portal, reporting a boarding by five unknown armed personnel.
• The rescue operation involved deploying a range of assets, including a warship (INS Chennai),
maritime patrol aircraft, helicopters, P-8I aircraft, and long-range aircraft, along with Predator
MQ9B drones.
About Indian Navy :
• Chief of Defence Staff : General Anil Chauhan
• Chief of the Naval Staff : Admiral R. Hari Kumar
Indian Navy Introduces New Design for Admirals' Epaulettes Inspired by Chhatrapati Shivaji Maharaj
• The Indian Navy unveiled a new design for Admirals' epaulettes, drawing inspiration from the
legacy of Chhatrapati Shivaji Maharaj.
• The unveiling of the epaulettes, a shoulder piece worn to show the rank of an officer, came three-
and-a-half weeks after Prime Minister Narendra Modi made an announcement on it.
• The force stated that the golden button reiterates "our resolve to do away with Ghulami ki
Maansikta (slave mentality)".
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• The octagon represents the eight cardinal directions, indicative of an all-round long-term vision.
About Indian Navy :
DRDO conducts successful flight-test of New GenerationAKASH missile

• Defence Research and Development Organisation (DRDO) conducted a successful flight-test of
the New Generation AKASH (AKASH-NG) missile from the Integrated Test Range (ITR),
Chandipur off the coast of Odisha.
• The flight-test was conducted against a high-speed unmanned aerial target at a very low altitude.
• During the flight test, the target was successfully intercepted by the weapon system and
destroyed.
• It has validated the functioning of the complete weapon system consisting of the missile with
indigenously developed Radio Frequency Seeker, Launcher, Multi-Function Radar and
Command, Control and communication system.
Indian Navy receives first UAV from Adani Defence and Aerospace, strengthening maritime surveillance
• The Navy received the first medium altitude long endurance (MALE) drone made in India by Adani
Defence & Aerospace (ADA) in collaboration with Israeli firm Elbit.
• Named Drishti 10 Starliner, the UAV was handed over by ADA at a flag-off ceremony led by the
chief of naval staff, Admiral R Hari Kumar, at the Adani Aerospace.
• The UAV is based on the Hermes 900 platform of Elbit and has been 70% indigenised by ADA
following a technology transfer from Adani Elbit Advanced Systems India Ltd, a joint venture
between Adani Group and Elbit.
India’s domestic air passenger traffic to touch 300 million by 2030: Civil Aviation Minister
● Addressing Wings India 2024 at Begumpet Airport in Hyderabad, he stated the domestic
passenger traffic, which was 60 million in 2014 grew to 145 million pre-Covid and it further
went up to 153 million in 2023.
● He stated despite the projected growth of 300 million by 2030, India will be one of the most
.
under penetrated markets across the top 20 markets in the world.

● The domestic passenger traffic in the last 10 years grew at a CAGR of 15.3 per cent while
international traffic grew at 6.1 per cent.
● India is the third-largest domestic civil aviation market and seventh-largest international civil
aviation market. If both are combined, India is the fifth-largest civil aviation market in the world.
● The minister stated that India has become the largest purchaser of aircraft in the world after
the United States and China.
● He expects that India’s fleet will go up from 713 to more than 2,000 in the next decade.
● He noted that the country, which had 400 aircraft in 2013-14, has grown its fleet to 713
Indian Navy foils second hijacking bid in Arabian Sea in 24 hours

• The Indian Navy stated that its offshore patrol vessel INS Sumitra rescued an Iranian-flagged
fishing vessel (FV) hijacked by armed pirates off the Somali coast, the second such action in the
last 24 hours in the Arabian Sea where the security situation has deteriorated significantly due to
the resurgence of piracy, and missile and drone attacks by Iran-backed Houthi rebels.
• FV Al Naeemi, the second Iranian-flagged vessel to be rescued by INS Sumitra, was carrying a
crew of 19 Pakistani nationals.
• The Indian warship had on January 28 responded to a distress call from FV Iman, intercepted it
and rescued the boat and its crew of 17 Iranians from Somali pirates.
• INS Sumitra is currently deployed along the east coast of Somalia and the Gulf of Aden for anti-
piracy operations.
• Last week, guided missile destroyer INS Visakhapatnam responded to a distress call by Marshall
Islands-flagged merchant vessel Marlin Luanda, which was struck by a missile in the Gulf of
Aden.
• Specialist firefighting crews embarked on the vessel and helped douse the fire on board.
• Challenges in the distant seas, including the Arabian Sea, have emerged as a new front in recent
weeks, with Red Sea tensions escalating and the resurgence of piracy in the Gulf of Aden and off
the Somali coast.
• The navy has stepped up surveillance in the Arabian Sea substantially and deployed task groups
consisting of around 10 warships in the face of rising threats.
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5th Ammunition Cum Torpedo Cum Missile (ACTCM) barge yard 129 (LSAM 19) launched at
Suryadipta Project Private Limited, thane
• The launch of ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 19 (Yard 129)’, 5th Barge of 11
x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Private Limited, Thane,
Maharashtra for Indian Navy, was undertaken at M/s Suryadipta Project Pvt Ltd (Launch site of M/s
SPPL).
• The launching Ceremony was presided over by Commodore V Pravin, AWPS(Mumbai,
Maharashtra).
• The contract for building 11 X ACTCM Barge was signed between the Ministry of Defence (MoD)
and M/s Suryadipta Projects Pvt Ltd, Thane on 05 Mar 2021.
• The availability of these Barges would provide impetus to operational commitments of IN by
facilitating Transportation,
• Embarkation and Disembarkation of articles/ ammunition to IN Ships both alongside jetties and at
outer harbours.
• These Barges are indigenously designed and built under relevant Naval Rules and Regulation of
Indian Register of Shipping.
• The model testing of the Barge during the design stage was undertaken at Naval Science and
Technological Laboratory, Visakhapatnam.
• These Barges are proud flag bearers of Make in India initiative of Government of India (GoI).
History :
• In 2021, The Indian Navy has signed a contract with Suryadipta Projects to construct 11
ammunition-cum-torpedo-cum-missile (ACTCM) barges with Suryadipta ProjectsPrivate Limited.

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Ministry of Defence Signs Rs 1070 Crore Contract with Mazagon Dock Shipbuilders Limited for 14 Fast
Patrol Vessels for Indian Coast Guard
• The Ministry of Defence (MoD) signed a contract with Mazagon Dock Shipbuilders Limited (MDL) to
acquire 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG).
• The value of the 14 Fast Patrol Vessels (FPVs) will be Rs 1,070 crore.
• These FPVs will be indigenously designed, developed and manufactured by MDL under the ‘Buy
(Indian-IDDM)’ acquisition category.
• These FPVs will be delivered in 63 months.
• Along with several high tech advanced features and equipment, these FPVs will be equipped with
multipurpose drones, wirelessly controlled remote water rescue craft lifebuoy and Artificial
intelligence capability enabling greater flexibility and operational edge to the ICG to face new age
multidimensional challenges.
• These modern FPVs will play a critical role in enhancing fisheries protection and monitoring, control
and surveillance, anti-smuggling operations, search and rescue operations including in shallow
waters, assistance to ship/crafts in distress, towing capabilities, assistance and monitoring during
marine pollution response operations, anti-piracy operations.
• The acquisition of these FPVs is aimed to boost ICG’s capability and reinforces the increased focus
of the government towards maritime security.
India, Saudi Arabia joint military exercise to begin from January 29-February 10
• The inaugural edition of Joint Military Exercise ‘SADA TANSEEQ’ between India and Saudi
Arabia will be held from January 29 to February 10 in Rajasthan, the Indian Army stated on
January 27.
• The exercise aims to enhance synergy, interoperability and jointmanship by learning and sharing
best practices between the Armies of both nations.
• Earlier in January, India and Saudi Arabia signed a bilateral agreement under which New Delhi
has been allocated a quota of 1,75,025 pilgrims for the annual Haj pilgrimage in 2024.
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India, France, and United Arab Emirate Collaborate in Joint Mega Air Exercise "Desert Knight" Over
Arabian Sea
● The Indian Air Force (IAF) conducted Exercise Desert Knight in collaboration with the French Air
and Space Force (FASF) and the United Arab Emirates (UAE) Air Force.
● The exercise occurred within the Indian Flight Information Regions (FIR) and involved IAF aircraft
operating from various bases in India.
● The exercise in Indian FIR was conducted over the Arabian Sea.
● Aircraft Involved : The French participation included Rafale fighter aircraft and a Multi-Role
Tanker Transport, while the UAE Air Force deployed the F-16 fighter jets.
● These aircraft operated from the Al Dhafra air base in the UAE.
● The IAF component comprised Su-30 MKI, MiG-29, and Jaguar fighter jets, alongside AWACS
(Airborne Early Warning and Control Aircraft), C-130-J transport planes, and air-to-air refueling
aircraft.
● Main focus of Exercise : To enhance synergy and interoperability among the three participating
Air Forces.
● The exercise provided an opportunity for the exchange of operational knowledge, experiences,
and best practices among the participants.
● Such exercises are indicative of the growing diplomatic and military interactions in the region,
apart from showcasing the prowess of the IAF.
About France :
● President : Emmanuel Macron
● Prime Minister : Gabriel Attal
● Capital : Paris
About UAE :
● President : Mohamed bin Zayed Al Nahyan
● Prime Minister : Mohammed bin Rashid Al Maktoum
● Capital : Abu Dhabi
● Currency : UAE dirham
2nd edition of the India-Egypt Joint Special Forces Exercise Exercise Cyclone II Commenced in Egypt
.
● The Indian Army contingent comprising 25 personnel reached Egypt to take part in the India-
Egypt Joint Special Forces Exercise CYCLONE.
● It is the 2nd edition of the Exercise Cyclone which will be conducted at Anshas, Egypt from 22nd
January to 1st February 2024.
● Cyclone is an annual exercise held alternatively in India & Egypt.
● Aim of the Exercise : To acquaint both the sides with each other’s operating procedures in the
backdrop of Special Operations in desert/ semi desert terrain under Chapter VII of United Nations
Charter.
● Participants : The Indian contingent is being represented by troops from the Parachute Regiment
(Special Forces) and an Egyptian contingent comprising 25 personnel is being represented by
Egyptian Commando Squadron and Egyptian Airborne Platoon.
About Exercise Cyclone II :
● The Exercise will involve planning and execution of special operations in sub conventional
domain and conducted in three phases.
● While the first phase will include Military Exhibitions and Tactical Interactions, the second phase
will focus on training on Improvised Explosive Device (IED), counter IED and Combat First Aid.
● The third and final phase will encompass Joint Tactical Exercise based on Fighting in Built-up
Area and Hostage Rescue Scenarios.
● The Exercise will provide an opportunity to both the contingents to strengthen their bond and
share best practices.
● It will also act as a platform to achieve shared security objectives and foster bilateral relations
between two friendly nations.
● The first edition of the exercise was conducted in January 2023 in Jodhpur, Rajasthan.
About Egypt :
● President : Abdel Fattah el-Sisi
● Capital : Cairo
● Currency : Egyptian pound
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11th edition of India-Kyrgyzstan Joint Special Forces Exercise ‘Khanjar’ commenced in Himachal
Pradesh
● The 11th edition of India-Kyrgyzstan Joint Special Forces Exercise Khanjar started at the Special
Forces Training School in Himachal Pradesh’s Bakloh.
● The exercise is being conducted from January 22 to February 3, 2024 (13-day exercise).
● Aim of the exercise : To exchange experiences and best practices in Counter Terrorism and
Special Forces Operations in Built-up Area and Mountainous Terrain under Chapter VII of United
Nations Charter.
● Participants : The Indian Army contingent comprising 20 personnel is being represented by
troops from The Parachute Regiment (Special Forces) and the Kyrgyzstan contingent comprising
20 personnel is represented by Scorpion Brigade.
About the Exercise Khanjar :
● Khanjar is an annual event conducted alternatively in India and Kyrgyzstan.
● The exercise will provide an opportunity for both sides to fortify defence ties while addressing
common concerns of international terrorism and extremism.
● The exercise will also accord opportunity to showcase capabilities of cutting edge indigenous
defence equipment besides achieving shared security objectives and foster bilateral relations
Note :
● The 1st edition of Exercise KHANJAR was held in 2011 in Nahan, Himachal Pradesh.
● The 10th edition of the India-Kyrgyz Special Forces Exercise Khanjar concluded in Bishkek,
Kyrgyzstan from 6th to 18th March, 2023
● In Oct 2023, External Affairs Minister S Jaishankar visited Bishkek to attend the 22nd Shanghai
Cooperation Organisation (SCO) Council of Heads of Government (CHG) to be held under the
chairmanship of Kyrgyzstan.
About Kyrgyzstan :
● President : Sadyr Japarov
● Capital : Bishkek
● Currency : Kyrgyzstani som
North Atlantic Treaty Organisation to conduct largest military exercises since the Cold War, involving
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90,000 troops
● Steadfast Defender 2024 is set to be the largest North Atlantic Treaty Organisation (NATO)
military exercise since the Cold War, involving around 90,000 troops.
About the Exercise :
● The exercises will extend until May and will include more than 50 ships, such as aircraft carriers
and destroyers, along with over 80 fighter jets, helicopters, and drones.
● The deployment encompasses at least 1,100 combat vehicles, including 133 tanks and 533
infantry fighting vehicles.
● Steadfast Defender 2024 will demonstrate NATO's ability to rapidly deploy forces from North
America and other parts of the alliance to strengthen the defense of Europe.
● Troops taking part in the exercise, which will include bringing personnel to Europe as well as
simulating exercises on the ground, will come from NATO countries and Sweden, which is
expected to join the alliance soon.
● During the second part of the Steadfast Defender exercise, special attention will be paid to the
deployment of NATO's quick reaction force to Poland on the eastern flank of the alliance.
● Notably, the last exercises of comparable size were Reforger in 1988 during the Cold War,
involving 125,000 participants, and Trident Juncture in 2018 with 50,000 participants.
About NATO :
● Headquarters : Brussels, Belgium
● Secretary General : Jens Stoltenberg
● Membership : 31 states (29 European and two North American)
India-Kyrgyzstan Joint Special Forces Exercise 'Khanjar' commences in Himachal Pradesh
• The 11th edition of the India-Kyrgyzstan Joint Special Forces Exercise 'Khanjar' commenced at
the Special Forces Training School in Bakloh, Himachal Pradesh.
• The exercise, scheduled from January 22 to February 3, involves joint training between the
special forces of India and Kyrgyzstan.
• According to an official release from the Ministry of Defence, the ongoing India-Kyrgyzstan Joint
Special Forces Exercise 'Khanjar' is providing a valuable opportunity for both nations to
.
strengthen defense ties while jointly addressing international concerns related to terrorism and
extremism.
• Additionally, the exercise serves as a platform to showcase the capabilities of cutting-edge
indigenous defense equipment.
• The Ministry emphasized that the exercise aims to achieve shared security objectives and foster
bilateral relations between India and Kyrgyzstan.
• The ongoing India-Kyrgyzstan Joint Special Forces Exercise 'Khanjar' involves a contingent of 20
personnel from the Indian Army's Parachute Regiment (Special Forces) and 20 personnel from
the Kyrgyzstan contingent represented by the Scorpion Brigade, as per the Ministry of Defence's
press release.
• This exercise, conducted under Chapter VII of the United Nations Charter, focuses on
exchanging experiences and best practices in Counter Terrorism and Special Forces operations.
• External Affairs Minister S. Jaishankar visited Bishkek for the 22nd SCO Council of Heads of
Government.
• He met Kyrgyzstan President Sadyr Zhaparov, discussing cooperation in various sectors and
conveying India's support for the Kyrgyz SCO Presidency.
• He discussed ways to strengthen India-Kyrgyz cooperation in trade, economy, development
projects, health, education, and exchanging views on Afghanistan, West Asia, and connectivity.
Indian Air Force Locates Debris of Missing An-32 Aircraft from 2016
● The Indian Air Force (IAF) announced that the debris of the An-32 aircraft, which went missing
over the Bay of Bengal in 2016 with 29 people onboard, has been found after 7 years.
● The missing aircraft carried 29 individuals, including 6 crew members, 11 Indian Air Force
personnel, two Indian Army soldiers, one each from the Indian Navy and Indian Coast Guard,
and 8 defense civilians working with the Naval Armament Depot.
● An Autonomous Underwater Vehicle (AUV), deployed by the National Institute of Ocean
Technology, located the missing aircraft on the sea bed approximately 310 kilometres from the
Chennai coast.
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● The search was conducted at a depth of 3,400 meters, employing various payloads such as
multi-beam SONAR (Sound Navigation and Ranging), synthetic aperture SONAR, and high-
resolution photography.
About IAF :
RANKING AND REPORTS

Global Unemployment Set to Reach 5.2% in 2024, ILO Reports
• The International Labour Organization (ILO), global unemployment rate is expected to inch up to
5.2 percent this year primarily because of a rise in joblessness in advanced economies.
• ILO's 2024 'World Employment and Social Outlook' report forecasts that the number of
unemployed people will rise by 2 million, lifting the global unemployment rate to 5.2 percent from
5.1 percent in 2023.
• ILO, a United Nations agency, said that after a short growth spurt as countries recovered from
the pandemic, aggregate labour productivity growth had quickly
returned to the low pace seen over the previous decade.
India bonds set to be included in the Bloomberg emerging market index
• Bloomberg Emerging Market (EM) Local Currency Index will include the Indian government’s
Fully Accessible Route (FAR) bonds.
• This will be done gradually beginning in September 2024 and lasting five months.
• Consequently, in September 2024, the Indian FAR bonds will be included with an initial weight of
20% of their whole market value in the EM Local Currency indices.
• Throughout the five months period that will end in January 2025, the weight of FAR bonds will
increase monthly in increments of 20% of their full market value.
• In January 2025, they will be weighted at their full market value (100%) in the indices.
• After India FAR bonds are fully incorporated into the Bloomberg Emerging Market 10% Country
Capped Index, their weight will be totally capped at 10%.
Delhi discoms, UP's NPCL top performance ratings of power distribution companies
.
• Delhi's BSES Rajdhani Power Ltd, BSES Yamuna Power Ltd, and Tata Power Delhi Distribution
Company and Noida Power Company Ltd have topped the ratings of the power distribution
companies in the country in FY23.
• Power minister RK Singh, launched the 3rd edition of consumer service ratings of discoms, covering
performance of discoms for FY 23.
• As per the ratings, NPCL, BRPL, BYPL and TPDDL have achieved A+ (highest) ranking among all
the 62 rated discoms in the country.
• Andhra Pradesh and Maharashtra's power distribution companies were rated among the next best
with an 'A' rating.
• The Minister also launched Powerthon 2024, which will enable budding startups and entrepreneurs
to have concepts and ideas for solving key problems of power DISCOMs to participate in an
incubation programme.
• Union Minister for Power and New & Renewable Energy remarked that the power sector of the
country has come a long way, in rural areas up from 12.5 hours per day in 2015-16 to ~21 hours.
• Similarly, hours of supply in urban areas improved to 23.8 hours per day from 20 hours in 2015-16.
• The DISCOMs were evaluated on four criteria specifying the minimum standards and expectations
that consumers have, such as reliability, timely and accurate metering and billing, connection and
other services, and swift grievance redressal.
Mukesh Ambani re-enters elite $100 billion club as Reliance shares rally
• Asia's richest billionaire Mukesh Ambani joined the exclusive club of tycoons having net worth of at
least $100 billion after shares of Reliance Industries (RIL) ended at fresh all-time high levels.
• The total net worth of the Chairman and Managing Director of RIL was estimated at $105.1 billion,
shows data from the F orbes Real-Time Billionaires List.
• In the global rich list, Ambani is now at the No.11 spot.
• The Forbes list has only 12 billionaires in the $100 billion club.
• Ambani had earlier entered into the $100 billion elite club in 2021 to drop out of the list later on.
• Gautam Adani, in the meantime, is at No.16 on the list of the world's richest billionaires.
• Elon Musk remains on top of the list with a net worth of #240.9 billion, followed by Bernard Arnault,
Jeff Bezos, Larry Ellison, and Mark Zuckerberg.
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CCI approves acquisition of control/stake in Reliance Capital Limited by IndusInd International Holdings
Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP
● Fair trade regulator Competition Commission of India (CCI) has cleared the proposed stake
acquisition in Reliance Capital by IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and
Aasia Enterprises.
● Reliance Capital Ltd (RCL) is an RBI-registered non-banking, non-deposit-taking systemically
important company (NBFC-CIC-ND-SI).
● It is engaged in the financial service sector.
● The combination relates to the acquisition of a controlling stake in Reliance Capital Ltd by
IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and Aasia Enterprises.
● In July,2023 Hinduja group-owned IndusInd International Holdings (IIHL), the promoter of
IndusInd Bank, announced a USD 1.5-billion capital-raising plan to fund the proposed acquisition
of Reliance Capital and increase its stake in the lender.
About CCI :
● Founded : 14 October 2003
● Chairperson : Ravneet Kaur
● The Competition Commission of India (CCI) is the chief national competition regulator in India.
● It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002 to promote competition and prevent activities that have an appreciable
adverse effect on competition in India.
ARCIL Acquires Loans Worth ₹1,100 Crore from RBL and Bandhan Bank
• Avenue Capital-backed Asset Reconstruction Company of India (Arcil) has acquired nearly ₹1,100
crore in small-ticket loans from RBL Bank and Bandhan Bank in two separate transactions.
• RBL Bank Transaction : RBL Bank sold small business loans amounting to ₹360 crore to ARCIL in
an all-cash deal at auction, resulting in less than 1% recovery.
• Bandhan Bank Transaction : Bandhan Bank sold a ₹719-crore home loan portfolio for ₹289.6 crore
at a Swiss auction, equating to a 40% recovery for the bank.
• Both transactions closed in the last week of December.
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Power Grid Acquires SPVs For Key Renewable Energy Transmission Projects
● POWERGRID has successfully acquired four Special Purpose Vehicles for Inter- state
Transmission System Projects which were bid out through Tariff Based Competitive Bidding
process.
● The acquired SPVS- Vataman Transmission Ltd., Koppal II Gadag II Transmission Ltd.,
Bikaner III Neemrana Transmission Ltd. & Neemrana Il Barielly Transmission Ltd. shall
facilitate integration of Renewable Energy Zones, immediate power evacuation &
establishment of new ISTS transmission infrastructure.
● Vataman Transmission Ltd. shall implement the Transmission System comprising
establishment of a new 765/400kV Switching Station at Vataman, Ahmedabad; 3 nos. of
765kV D/C transmission lines (including a LILO line) traversing in the state of Gujarat as well
as extension works at Navsari & Halvad Substations in the state of Gujarat.
Foxconn ties up with HCL for local semicon assembly
● Taiwan’s Foxconn, also known as Hon Hai Precision Industry, has joined forces with
India’s HCL Group to establish an Outsourced Assembly and Testing (OSAT) unit for
semiconductor chips.
● Foxconn, through its subsidiary Foxconn Hon Hai Technology India Mega Development
Private Limited, is set to invest $37.2 million, securing a substantial 40% stake in the joint
venture, as revealed in a regulatory filing to the Taiwanese stock exchanges.
● The collaboration aligning with the Indian government’s ‘Make in India’ and ‘Atmanirbhar
Bharat’ vision was confirmed.
● The partnership intends to contribute to building a resilient supply chain ecosystem for
the domestic semiconductor industry.
● Foxconn, a global leader in electronics manufacturing and assembler of iPhones, aims to
deploy its ‘Build-Operate-Localize’ (BOL) model to support local communities in India
Betavolt Introduces World’s First Maintenance-Free Battery Capable of 50 Years of Power Generation
● In China, a startup named Betavolt has unveiled a revolutionary battery, asserting its
capability to produce electricity for 50 years without requiring charging or maintenance.
● According to The Independent, this innovation is a nuclear battery that has successfully
integrated 63 isotopes into a module smaller than a coin.
● Betavolt claims that it is the world’s first battery to achieve the miniaturization of atomic
energy, challenging traditional notions associated with nuclear technology.
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● The battery’s technology operates by transforming the energy generated through the decay of
isotopes into electrical power.
● The startup has commenced preliminary testing and aims to scale up production of the battery
for widespread use in commercial devices like smartphones and devices.
● Utilizing a layered design, the battery is engineered to mitigate the risk of catching fire or
exploding under abrupt force, as asserted by Betavolt.
● The company also states that the battery demonstrates resilience in operating within a
temperature range spanning from –60 degrees Celsius to 120 degrees Celsius.
● The battery’s dimensions are 15 x 15 x 5 millimeters, constructed from thin layers of nuclear
isotopes and diamond semiconductors.
● Presently, the nuclear battery produces 100 microwatts of power at 3 volts.
● The objective is to achieve a power output of 1 watt by the year 2025.
Airbus and Tata’s Joint Venture: Paving the skies with cutting-edge pilot training in Gurugram
● In adherence to its ‘Skill India’ commitment, Airbus has formed a 50:50 joint venture with Tata-
owned Air India, marking a significant stride in launching a world-class pilot training center
in Gurugram, Haryana.
● The Tata Airbus Training Centre is geared to provide A320 and A350 flight training for
approximately 5,000 new pilots over the span of the next 10 years.
● Covering a vast 3,300 sq.mt., the center is set to feature 10 Full Flight Simulators
(FFS), dedicated flight training classrooms, as well as briefing and debriefing rooms, forming a
comprehensive Airbus Flight Training Device setup.
● With a slated operational kickoff in early 2025, the training center’s initial phase will see the
installation of four A320 FFS.
● Courses offered at the Tata Airbus Training Centre will receive approval from both
the Directorate General of Civil Aviation (DGCA) and the European Union Aviation Safety
Agency (EASA).
● Simultaneously, Airbus has entered a partnership with GMR Aero Technic to provide Aircraft
Maintenance Engineering training courses at GMR’s facility in Hyderabad.
Japan’s Sony terminates $10 billion merger with India’s Zee
.
• Japan’s Sony Group stated it has sent a termination notice to Zee Entertainment to call off a $10
billion merger of their Indian operations, following an impasse over who will lead the combined
entity.
• The deal, announced more than two years ago, was perceived as crucial for the survival of the
companies in a highly competitive market, given the impending merger between Disney’s Indian
businesses and the media assets of billionaire Mukesh Ambani’s Reliance Industries.
• It cited unmet conditions of the merger agreement as the reason for the termination.
Hyundai India acquires General Motor's Talegaon plant, to invest ₹6,000 crore in Maharashtra
● Hyundai Motor India Ltd (HMIL) has acquired General Motors India's Talegaon plant in
Maharashtra and will invest Rs 6000 crore in the state.
● The company did not disclose the amount it paid the American firm for the plant.
● HMIL, the second-largest carmaker in India after Maruti Suzuki, had previously signed a term
sheet with General Motors India for the potential acquisition of the plant.
● The Indian unit of the Korean carmaker announced the deal in March 2023.
● With the acquisition, Hyundai's production capacity is expected to surge to one million from more
than 800,000 currently.
● The plant, which has an annual production capacity of 13,0000 units, is scheduled to resume
manufacturing in 2025.
● HMIL plans to expand the capacity to achieve its strategic goal in the market.
● HMIL has already enhanced its production capacity (at its Sriperumbudur plant in Tamil Nadu)
from 750,000 units to 820,000 units in the first half of this year.
● In Jan 2024, Hyundai signed a non-binding agreement with the Tamil Nadu government to invest
₹6,180 crore on various initiatives, including establishing a hydrogen resource centre
About Hyundai Motor India Ltd :
● Founded : 6 May 1996
● Headquarters : Gurugram, Haryana, India
● MD & CEO : Un Soo Kim
● Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of the Hyundai Motor
Company.
● It is the third largest automobile manufacturer in India.
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CURRENT AFFAIRS: RANKING AND INDEX

ASER 2023: 86.8% of youth in the age group 14-18 are enrolled in an educational institution
● The NGO Pratham’s Annual Status of Education Report (ASER) titled ASER 2023 ‘Beyond
Basics’ was released.
● According to the ASER 2023, nearly 43% of children in the 14-18 age group cannot read
sentences in English, while among their rural counterparts, 25% struggle to read a Class 2
level text in their respective regional language.
● The 2023 survey focused on the 14-18 year-old children group in rural India.
● It assessed specifically children's reading and math skills.
● It also captures information about their access to digital technology.
● This survey was carried out among 34,745 young respondents in 28 rural districts in 26 states.
● The survey has four broad buckets to measure — activity, aspiration, awareness in general,
and ability.
● About one in four children in the 14-18 age group still cannot read a Std II-level text fluently in
their regional language.
● 8% of Children in the 14-18 year age group are enrolled in an educational institution,
● Around 57% of children can read sentences in English and more than 73% can also tell their
meanings. Boys are better than girls in both arithmetic and English reading.
● Out of the total surveyed children, 95% of boys and 90% of girls could use a smartphone.
● Girls are less enrolled in the science stream (28.1%) as compared with boys (36.3%).
SPORTS NEWS
Australian batter David Warner announces retirement from One Day International cricket
• Australian batter David Warner has announced his retirement from One Day Internationals (ODIs).
• The 2-time ODI World Cup Winner had previously announced that he would be ending his Test
career after Australia's upcoming Test against Pakistan in Sydney.
• However, the opener has said that he will keep himself available for selection in the Champions
Trophy in 2025.
• Warner is Australia's sixth-highest run scorer in the ODI format and is only second to former
captain Ricky Ponting's tally for most Centuries for Australia in ODIs.
In Men's Chess, Dommaraju Gukesh secures spot at a prestigious Candidates tournament
.
• In Men's Chess, Dommaraju Gukesh has secured his spot at the prestigious Candidates
tournament, which will take place in Toronto from April 2 to 25, 2024.
• Gukesh became the third Indian to make the Candidates tournament, joining R Praggnanandhaa
and Vidit Gujrathi.
• This is the first time in history that three Indians are playing the Candidates.
• The winner gets the chance to take on China’s Ding Liren in the next World Chess Championship.
• In Women's Candidates, Koneru Humpy and Rameshbabu Vaishali will represent the country.
Union Sports Minister Anurag Thakur inaugurates the Beach Games held at Ghoghala Beach in UTs of
Diu
• Beach Games was inaugurated by Union Sports Minister Anurag Singh Thakur at Ghoghla Beach
in the Diu.
• The beach games, which started on January 4, will be played till January 11.
• Due to this festival, beach games will also be promoted in other beach states and union territories
of the country.
• Organizing this festival will establish new dimensions and will also promote culture and tourism in
the Union Territory.
• More than twelve hundred players are participating in these competitions from States and Union
Territories.
Tata Steel Chess tournament 2024 to begin at Wijk aan Zee in Netherlands
• Tata Steel Chess tournament 2024 will begin at Wijk aan Zee in the Netherlands.
• First Round of the tournament will start at 8:30 p.m.
• It will be available on chess.com/TV and chess24's Twitch and YouTube channels.
• Some of the strongest players in the world are gathering in the tournament also called the
"Wimbledon of Chess".
• Viswanathan Anand was the record winner for a long time until he was replaced by Magnus
Carlsen.
India wins its first Gold medal at Zagreb Open 2024 Wrestling Tournament in Croatia
• Reigning Asian champion Aman Sehrawat won the Gold medal in Men’s 57kg at the Zagreb Open
2024 Wrestling Tournament in Croatia.
• He defeated China’s Zou Wanhao via technical superiority in the 57kg final, to win India’s first
medal in this edition of the Ranking Series.
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• Meanwhile, another Indian wrestler Yash Tushir was defeated by USA’s Quincy by 15-4 in the
round of 16 of the men’s 74kg category.
• Nonetheless, the competition will feature Freestyle wrestlers Vicky and Sumit competing in the
men's 97kg and 125kg weight classes, respectively.
India on top of medals table in Asian Shooting Championship in Jakarta with 07 Gold, 06 Silver, and 06
Bronze medals
• Media_SAIIn Women's shooting, Rhythm Sangwan bagged the Bronze medal in the 25-meter
Pistol event at the Asian Shooting Championship in Jakarta, Indonesia.
• With this medal, Rhythm confirmed the 16th Paris Olympic quota for the Indian shooting
contingent.
• Also, this is the sixth Paris quota in the pistol events for India and the second in women's 25m
Pistol.
• Rhythm ended the tournament with an impressive performance collecting a total of five medals, 1
gold, 2 silver, and 2 bronze medals.
Indian Shooter Yogesh Singh Wins Gold in Men’s 25m Centre Fire Pistol at Asia Olympic Qualifiers
● Indian shooters continued with winning gold in the Asia Olympic Qualifiers with Yogesh
Singh winning the top prize in individual as well as team event of the men’s 25m centre fire
pistol competition in Jakarta, Indonesia.
● Yogesh claimed the individual gold medal after shooting 573, finishing ahead of silver winner
Muad Al Balushi of Oman (570) and Indonesia’s Anang Yulianto (567).
● The other two Indian participants in the event, Pankaj Yadav (567) and Akshay Jain (564),
ended fourth and sixth.
● The Indian trio aggregated 1704 to bag the team gold ahead of shooters from Oman and
Indonesia.
● In the women's event, the Indian trio of Shreyasi, Manisha Keer and Bhavya Tripathi,
however, won the silver medal in the women’s trap team event with a total of 328, finishing
behind China and ahead of Kazakhstan.
Argentine superstar Lionel Messi once again bags The Best FIFA Men’s Player Award
● Argentine superstar Lionel Messi has once again bagged The Best FIFA Men’s Player.
● The announcement was made at the Best FIFA Football Awards ceremony in London.
● Messi came out on top in the voting leaving behind the other finalists, Erling Haaland and
.
Kylian Mbappe.
● This is the 3rd time in the last 4 years that Messi has got the award.
● Spain and Barcelona striker Aitana Bonmati was bestowed with the Best FIFA Women’s
Player Award.
● Manchester City coach Pep Guardiola won the Best Men’s Manager award while England
coach Sarina Wiegman claimed the award for the Best Woman Coach for a record fourth time.
● Manchester City stopper Ederson won the Best Men’s Goalkeeper while Mary Earps, the
Manchester United and England No. 1, won the Women’s Goalkeeper award in the ceremony
in London.
Rameshbabu Praggnanandhaa surpasses Viswanathan Anand to become India’s number-one Chess
player
● India Chess Wizard Rameshbabu Praggnanandhaa defeated World Chess Champion Ding
Liren in the Tata Steel Masters in Wijk aan Zee, in the Netherlands.
● As a result of this victory, Praggnanandhaa became only the second Indian after
Vishwanathan Anand to defeat a reigning champion.
● He also overtook Anand to become India’s new number one Chess player in terms of live
ratings.
Tamil Nadu has won the gold medal in rhythmic yoga at the Khelo India Youth Games.
● Tamilnadu won gold in rhythmic yoga followed by West Bengal and Maharashtra.
● In the women’s section, West Bengal won the gold followed by Maharashtra and Tamilnadu.
● The four-day Mallar Kambu competition will be held in Tiruchirappalli
● In the Khelo India Youth Games, in the Squash single girls category round 16, Pooja Arthi,
Deepika and Shameena Riaz from Tamilnadu have moved to the next round.
● Yashi Jain and Chhavi Sharan from Rajasthan, Khushboo and Unnati Tripathi from Uttar
Pradesh and Nirupama Dubey from Maharashtra have also moved to the next round.
● Tavneet Singh Mundra from Madhya Pradesh, Ansh Tripathy, Karan Yadav and Aryan Pratap
Singh from Uttar Pradesh, Sandesh, Meyyappan and Arihant from Tamilnadu, Avalokit Singh
from Rajasthan have moved to the next round after round robin in Squash Boys Category.
Raiza Dhillon wins silver in the women’s skeet final at the Asia Olympic Qualification shotgun
tournament.
● Indian Shooter Raiza Dhillon has won silver in the women’s skeet final at the ongoing Asia
Olympic Qualification shotgun tournament in Kuwait.
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● With this win, Raiza secured Paris 2024 Olympic quota in shooting.
● While Maheshwari Chauhan got Bronze and Ganemat Sekhon finished at 4th.
● The trio also won the team gold medal for India.
● Dhillon was on top of the table with six out of six targets.
● The Indian continued to lead the final with 14 hits.
With 127 medals, Maharashtra leads the Khelo India Games medal tally followed by Haryana.
• In the Khelo India games, Maharashtra ranks first in the medal tally with a total of 127 medals
including 44 gold, 39 silver, and 44 bronze medals followed by Haryana scoring 94 medals including
33 gold, 19 silver, and 42 bronze medals.
• Tamil Nadu stood third with a total of 82 medals including 29 gold, 19 silver, and 34 bronze medals.
• In the Football semi-finals boys Meghalaya beat Jharkhand 5-3 and in another semi-finals, Punjab
beat Odisha 1-0
• In the Kho Kho semi-finals girls, Odisha beat Delhi 27 -18 and Maharashtra beat Gujarat 27 -16.
• In Boys Kho Kho, Maharashtra beat Karnataka 29 -23 and Delhi beat Gujarat 43-28.
• In Shooting, - Skeet boys all the medal winners were from Punjab. Gurfateh Singh Sandhu, Zorawar
Singh Bedi, and Harazeez Singh Alwa from Punjab won the gold, silver, and bronze medals
respectively.
• In Shooting Skeet Girls, Devyani Rathore and Yashaswi Rathore both from Rajasthan won gold and
silver medals respectively. Venkat Lakshmi Lekhu from Tripura won the bronze medal.
ICC lifts suspension of Sri Lanka Cricket after two-months

• The International Cricket Council (ICC) has lifted the suspension of Sri Lanka Cricket with immediate
effect.
• Sri Lanka Cricket has been reinstated as a member of the International Cricket Council after a two-
month suspension.
• Sri Lanka Cricket was suspended for violation of responsibilities as an ICC Member, in particular, the
requirement to manage its affairs autonomously and ensure that there is no government interference
in the governance, regulation, and/or administration of cricket in Sri Lanka.
Divyansh Singh Panwar from India clinches gold medal in men's air rifle event at the ISSF World Cup
held in Cairo
.
• In air rifle shooting, Indian Olympian Divyasnsh Singh Panwar had struck gold in the men's event
with a world record score in the final while Sonam Uttam Maskar, competing in her first International
Shooting Sport Federation (ISSF) World Cup, bagged silver in the women's 10-metre event in Cairo.
• The 21-year-old shot 253.7 bettering Chinese Sheng Lihao's 253.3, set at the Asian Games in
Hangzhou last year.
• India is now firmly on the top of the table in the season-opening World Cup stage with two gold and
three silver medals in their kitty after three days of competition.
• This was Divyansh's fifth overall World Cup stage gold and second individual gold after his last effort
came in Putian in 2019.
Rohan Bopanna has become the World No. 1 Doubles Player after his Australian Open Victory
• Indian Tennis star Rohan Bopanna for the first time climbed to World Number One position in the
latest ATP Doubles Rankings released.
• Rohan Bopanna won his career’s first Men’s Doubles Grand Slam at the Australian Open to jump
two places in the ATP Rankings.
• Bopanna’s Australian partner Matthew Ebden is the new World Number Two.
• 43-year old Bopanna is the oldest World Number One in Men’s Tennis.
• He is also the fourth Indian tennis player after Leander Paes, Mahesh Bhupathi and Sania Mirza to
reach the top of the tennis rankings.
• All four are also the only Indian Grand Slam winners.
Rohan Bopanna, the oldest Grand Slam winner clinched the Australia Open 2024:
• India's tennis star Rohan Bopanna and his Australian partner Matthew Ebden clinched the grand
slam title at the Australian Open 2024 after the duo defeated Italy's Simone Bolelli, and Andrea
Vavassori in the men's doubles final at Melbourne Park.
• The 43-year-old Rohan Bopanna, who recently became World No. 1 in the ATP men's doubles
rankings is now the oldest grand slam winner.
• The victory in the Australian Open marks the initial significant triumph for the duo, who
experienced defeat in the US Open final last year.
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• Following the rankings update, Rohan Bopanna will ascend to the world number one spot, while
Matthew Ebden, despite participating in three additional tournaments within the ranking period,
will hold the number two position.
About Rohan Bopanna
1. Rohan Bopanna was born in Coorg district Karnataka in March 1980 and developed an early
interest in tennis.
2. He carried the game to the United States, where is attended his college and slowly made his
name in the world of professional tennis championships.
3. Rohan Bopanna is renowned for his success in doubles tennis.
4. He has secured victories in Grand Slam events, including winning the mixed doubles title at the
2017 French Open with his partner Gabriela Dabrowski
5. Recipient of the Arjuna Award, Rohan Bopanna has been a pivotal constituent of India's Davis
Cup squad since his inaugural appearance in 2002.
6. Furthermore, he clinched victory in the 2006 Asian Hopman Cup, a qualifying competition for the
2007 Hopman Cup, alongside Sania Mirza.
7. Rohan Bopanna has secured considerable success on the ATP Tour.
8. He has won numerous titles in doubles events, showcasing his skill and consistency as a
doubles specialist on the professional circuit.
9. The grand slam winner is actively involved in promoting and developing tennis in India.
10. He has established the Rohan Bopanna Tennis Academy to nurture young talent and provide
them with opportunities to excel in the sport, contributing to the growth of tennis in the country.
Aryna Sabalenka crushes Zheng Qinwen to defend Australian Open title

• Aryna Sabalenka crushes Zheng Qinwen 6-3, 6-2 to defend Australian Open title.
• She became the first woman to do so in more than a decade.
• The 25-year-old Belarusian defending champion and world number two Aryna Sabalenka
defeated Chinese 12th seed Zheng Qinwen 6-3, 6-2 to win the Australian Open women's singles
title in Melbourne.
• Sabalenka took just 33 minutes to race through a 6-3 win in the first set at Melbourne Park.
• This is Sabalenka's second Grand Slam title while Zheng was gunning for a first.
• Sabalenka became the first woman to defend the Australian Open title since 2013.
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Virat Kohli wins ICC ODI Player of the Year award for 4th time
• Indian batting star Virat Kohli bagged the ICC ODI Player of the Year award for the fourth time,
following his record-breaking performance in the World Cup 2023.
• Kohli had previously won the award in 2012, 2017, and 2018 and also stands amongst the four
nominees for the ICC Cricketer of the Year 2023 award.
• Notably, Kohli has become the first-ever cricketer to clinch this award four times, surpassing AB de
Villiers' tally of three awards.
• Virat Kohli built on his comeback in 2022 with a spectacular 2023, where he won the Player of the
Tournament performance at the ICC Men’s Cricket World Cup 2023.
Nikita Kumari of Rajasthan wins the Khelo India Youth Games gold in discus throw.
• In the Khelo India youth games, Nikita Kumari of Rajasthan won the gold in the discus throw event.
• She was followed by Riddhi from Haryana winning the silver while Bhakti Gawade from Maharashtra
won the bronze.
• In the triple jump match Paveena Rajesh from Tamil Nadu won the gold followed by Pamela Var
shini.G. from Tamil Nadu winning silver and P.V.Abirami from Kerala taking the bronze medal.
• In the volleyball girls' event, West Bengal defeated Kerala 3-0.
• In the hammer throw boys' event,Omkar Prasad Nand from Odisha took the first place followed by
Yashar Kurbar by Karnataka and the third place was taken by Nikhil Yadav, Haryana.
• In the 800m girls athletics, M.An Silin and Aksilin from Tamil Nadu won the gold and silver medals
while Priyanka Olkar from Karnataka won the bronze.
• In Mallakhamb events, on the whole Maharashtra won the gold medal with 209.25 points followed by
Tamilnadu at a score of 207.35 points and Madhya Pradesh stood third with 205.30 points.
Tata remains IPL title sponsor in record-breaking US$300m deal

• Tata Group has won IPL sponsorship rights for 5 years for $300 million.
• Tata Group has won the title sponsorship of the Indian Premier League (IPL) for 2024-28.
• IPL has become the world’s richest T20 tournament with the brand value of $8.4 billion.
• Tata Group has been the title sponsor of both the men’s IPL and the Women’s Premier League.
• The Indian Premier League (IPL) is a men's Twenty20 cricket league. It is annually held in India.
• The league is contested by ten city-based franchise teams. The BCCI founded the league in 2007.
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Maharashtra gymnast Aaryan Davande has won the gold medal in boys' artistic all-round category at
Khelo India Youth Games held in Chennai.
• In the Khelo India Youth Games 2023, defending champions Maharashtra opened their gold medal
account when gymnast Aaryan Davande clinched the Boys Artistic All-Round crown at the SDAT
Aquatics complex in Chennai.
• Davande accumulated a total of 73 points to beat Uttar Pradesh’s Pranav Mishra. Harshit of UP
clinched the bronze in the event.
• Girls team from Tamilnadu won the gold medal, Rajasthan bagged silver and Maharashtra got
Bronze in Cycling team sprint event.
• In the 500-metre trial girls category, J. Srimathi won gold, Vimla from Rajasthan bagged silver and
R. Tamilarasi from Tamilnadu got the bronze medal.
• In the Boys cycling event, Aashirwad Saxena from Telangana won the gold, Vedant Jadhav from
Maharashtra bagged the silver and Gumoor Poonia from Haryana got the bronze medal.
• Kerala won the gold, Maharashtra bagged silver and Tamilnadu got the bronze medal in the team
sprint cycling event.
BCCI announces that Virat Kohli will miss the first two Tests against England due to personal reasons.
• The Board of Control for Cricket in India (BCCI) has announced that Indian batting maestro Virat
Kohli has opted to withdraw from the first two Tests against England, citing personal reasons
• BCCI assured that Kohli's replacement will be announced shortly.
• India is set to play a five-match Test series, the first of which will be held in Hyderabad on January
25.
• The second match of the series will be played on February 2 in Visakhapatnam.
• The series will conclude with the fifth and final test to be held in Dharamshala on March 11.
About BCCI
• President: Roger Binny
• Headquarters: Mumbai
• Founded: December 1928
Khelo India games: In the under-18 women's hockey match, Madhya Pradesh defeats Chhatisgarh 1-0.
• In Khelo India games, women's hockey under 18 category,Madhya Pradesh won against
Chhatisgarh 1-0, Tamilnadu lost to Mizoram 0-7, Haryana won Jharkhand by scoring four goals
against three Odisha scored a two-goal win against Punjab.
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• Other games like Cycling, Judo, Boxing, Squash, Fencing, Gymnastics, and Yogasana are being
held in various places across Chennai.
• Under 18 men's hockey, Punjab will face Tamil Nadu, Orissa is pitted against Madhya Pradesh,
Jharkhand against Maharashtra, and Haryana will face Chandigarh.
• Gadka games will be played at Madurai
Man Singh of India wins the gold medal in the 2024 Asian Marathon Championships in Hong Kong.
• India’s Man Singh claimed the gold medal at the Asian Marathon Championships 2024 with a
personal best timing of two hours 14 minutes and 19 seconds in Hong Kong.
• The 34-year-old Indian marathon runner comfortably beat runner-up Huang Yongzheng of China
with a time difference of 65 seconds in the men’s event.
• Kyrgyzstan’s Tiapkin Ilya came third in 2:18:18.
• Man Singh’s previous personal best was 2:16:58, clocked at Mumbai Marathon 2023.
• Man Singh was part of the Indian contingent at the Asian Games 2023 and finished eighth with a
timing of 2:16:59 in the marathon event.
• In the women’s event, India’s Ashvini Jadhav finished eighth in 2:56:42 and Jyoti Gawate finished
11th in 3:06:20.
• The entry standard for the women’s marathon for the Paris 2024 Olympics is 2:26:50.
In rhythmic gymnastics, Sanyukta Kale wins gold.
• In the rhythmic gymnastics individual event of the Khelo India Youth games, Sanyukta Kale from
Maharashtra won the gold, Muskan Rana from Jammu and Kashmir won the silver and Life Adlakha
won the bronze medals.
• Raja Babu Yadav, Gymnastics coach from Uttar Pradesh told Akashwani that Indian gymnastics
players are ready to compete in international games.
• Pranav Mishra who won the silver medal said that it was a momentous occasion for him.
• In the women artistic individual gymnastics, Nishika Agarwal from Telangana won the gold, Soumili
Karar from West Bengal won the silver and Sara Rawool won the bronze medals.
OBITUARIES
Brazil's 4-time FIFA World Cup champion Mario Zagallo passed away
• Mario Zagallo, who won two World Cups as a player, one as a coach and another as an assistant
coach for Brazil, has passed away at the age of 92.
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• Zagallo began his career as a striker with Rio's America and later also played for Flamengo and
Botafogo, one of the few Brazilian clubs which rivalled Pele's Santos in the 1960s.
• He holds the record for World Cup titles in general with four titles in total.
• He also holds the record for World Cup finals with six participations.
• In 1992, Zagallo received the FIFA Order of Merit, the highest honour awarded by FIFA, for his
contributions to football
'India's oldest' sloth bear in captivity passed away in Bhopal zoo

• Bablu, India's oldest sloth bear, has passed away at the age of 36 in Bhopal Zoo.
• A 36-year-old male sloth bear named Bablu died due to multi-organ failure at the Van Vihar
National Park in Bhopal.
• In India, Bablu was the oldest bear in captivity.
• Bablu was rescued from a 'madaari' (street performer) in Rajasthan and brought to Van Vihar
National Park at the age of 19 in 2006.
About Van Vihar National Park :
• Van Vihar National Park is a national park in Bhopal.
• It was declared a national park in 1979.
• Located in Bhopal, Madhya Pradesh
Urdu poet Munawwar Rana passes away

● Noted Urdu poet Munawwar Rana passed away at the Sanjay Gandhi PostGraduate Institute
of Medical Sciences in Lucknow.
● He was Born on November 26, 1952, he left a mark on Indian literature and his work,
“Shahdaba”, earned him the prestigious Sahitya Akademi Award in 2014 but he returned it
due to political reasons.
● During the anti-CAA (Citizenship Amendment Act), his daughter and he supported the
protesters. He was also in the news during the farmers’ agitation for purportedly controversial
remarks.
● Munawwar Rana suffered infection in the lungs and throat in 2017 and was also receiving
treatment regularly due to kidney problems for which he had to undergo dialysis.
Rallying-Spanish rider Falcon dies after Dakar Rally crash
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● Spanish motorcycle rider Carles Falcon has died more than a week after crashing in the Dakar
Rally in Saudi Arabia, his team stated.
● Falcon, 45, had been in an induced coma since he was flown to hospital with severe injuries
from a fall during the second stage on Jan 7.
● Race director David Castera told reporters at the time that the rider, who was competing in the
endurance event for the second time, had lacked a pulse but was resuscitated by the first
doctor to arrive on the scene.
● Falcon, from Tarragona, was competing in the unassisted bikers category.
● The gruelling event, being held entirely in Saudi Arabia for the fifth time, has claimed many
lives since the first Paris-Dakar rally was held in
● Falcon was the 33rd competitor to die, but first since
● Last year’s only fatality was a 69-year-old Italian spectator, Livio Sassinotti, who was hit by a
truck while taking photographs behind a sand dune.
Veteran classical singer Swarayogini Dr Prabha Atre dies at 91
● Veteran classical singer Swarayogini Dr. Prabha Atre, a representative of the Kirana
Gharana, passed away at the age of 91 in Pune.
● Her demise, attributed to a cardiac arrest, marks a significant loss in the music world.
● Atre, a recipient of all three Padma awards, was not only an acclaimed classical vocalist but
also excelled as an academician, researcher, composer, and author, holding a doctorate in
music.
● Prabha Atre, honored with the Padma Vibhushan in 2022, Padma Shri in 1990, and Padma
Bhushan in 2002, leaves behind a legacy that extends beyond her contributions to classical
music.
● The loss is deeply felt, considering her multifaceted persona and unparalleled achievements in
both music and academia.
Hertha Berlin president Bernstein dies aged 43
● Hertha Berlin president Kay Bernstein, a former ultra fan who surprisingly took over the
presidency in 2022, has died at the age of 43, the club stated in a statement.
● Bernstein was a longtime ultra supporter and his presidential election win — a first
for Bundesliga clubs — was hailed across Germany as a win for fans against the
commercialisation of the sport.
Former Olympic pole vaulter, world champ Shawn Barber dies at 29
.
● Barber, a world champion pole vaulter, Olympian and three-time NCAA champ during his time
at Akron, died at his home in Kingwood, Texas, from medical complications. Barber was 29.
● Barber, a dual citizen of the United States and Canada, competed for Canada at the 2016
Summer Olympics in Rio de Janeiro, finishing
Rana Talwar, first Asian to head a global bank, passes away at 76
· Rana Talwar, the first person from Asia to head a global bank (Standard Chartered) passed away at the
age of 76 after being unwell for some time.
· Talwar was a board member at DLF, having joined the realty major in 2006.
About Rana Talwar:
(1.) He began his career with Citibank India in 1969, swiftly ascending through the ranks to lead its retail
businesses in Asia-Pacific, Middle East, Europe, and North America.
(2.) Then, in the summer of 1997, the St Stephens alumnus joined Standard Chartered, assuming the
position of CEO after some months, becoming the first Asian to head an international bank.
(3.) There, he was instrumental in major acquisitions, including the Trade Finance business of UBS,
Grindlays Bank in India and the Middle East from ANZ, and the Credit Card business from Chase
Manhattan in Hong Kong.
(4.) After moving on from Standard Chartered in 2002, the veteran banker founded Sabre Capital, a
private equity firm. Interestingly, ‘Sabre’ means a sword, which translates to ‘Talwar’ in Hindi.
Dr Nitya Anand, man who discovered India's first oral contraceptive pill 'Saheli', dies at 99
• Dr Nitya Anand, who discovered India’s first oral contraceptive pill ‘Saheli’, passed away after a
prolonged illness at SGPGIMS Lucknow. He was 99.
• Anand was also the former director of the Central Drug Research Institute (CDRI) from 1974 to
1984.
• He was with CDRI since its inception in 1951.
• He published over 400 research papers and over 130 patents and supervised 100 PhD students.
• He was the brain behind the discovery of Centchroman’, popularly known as ‘Saheli.’
• It was the world’s first and only non-steroidal, non-hormonal, once-a-week oral contraceptive pill.
.
• It was launched by then Prime Minister Rajiv Gandhi in 1986.

• In 2016, Saheli was incorporated in the National Family Programme of India.
• Anand is a Padma Shri recipient who is survived by his daughter Dr. Sonia Nityanand, who
serves as vice-chancellor of King George's Medical University (KGMU), and sons Neeraj
Nityanand and Dr. Naveen Nitya Anand
Italy's All-Time Leading Goal Scorer and World Cup Winner Luigi Riva Passed Away
● Luigi “Gigi” Riva, Italy’s leading all-time national team goalscorer, passed away at the age of 79.
About Luigi Riva :
● Riva, whose physical presence and powerful shooting earned him the nickname Rombo di Tuono
(Roar of Thunder), scored 35 goals in 42 appearances for the national team.
● At international level, Riva won the 1968 UEFA European Championship and was runner-up at
the 1970 FIFA World Cup with the Italy national team; he also took part at the 1974 FIFA World
Cup. With 35 goals in 42 appearances (in all official competitions) between 1965 and 1974, he is
Italy's all-time leading goalscorer..
● He was runner-up to Rivera for the Ballon d’Or trophy awarded to Europe’s best player in 1969.
● Riva played almost his entire club career with Cagliari and was Serie A top scorer when the
Sardinian team won the Italian league title for the only time in their history in 1970.
● He was honorary president of the club at the time of his death.
● He was later part of the technical staff for the Italian national team when the Azzurri won their
fourth World Cup in 2006.
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Important Monthly Current Affairs Capsule – February 2024

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2. NATIONAL NEWS 08
4. STATE NEWS 40
5. BUSINESS NEWS 52
14. SPORTS NEWS 154
15. OBITUARIES 163
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IMPORTANT DAYS
Indian Coast Guard Day 2024: 01st February
• The ICG Day or Indian Coast Guard Day is celebrated on 01st February every year.
• The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life
operations at sea.
• Despite being relatively small, it has a wide range of task capabilities for both surface and air
operations.
• The Indian Coast Guard was initially established on 1 February 1977 due to an emergency.
World Wetlands Day 2024: 2nd February
• World Wetlands Day is celebrated on 2nd February every year.
• Aims to raise global awareness about the vital role of wetlands for people and the planet.
• On this day, The Convention on Wetlands was adopted in 1971.
• The day is celebrated to mark the date of the adoption of the Convention on Wetlands on
February 2, 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea.
• World Wetlands Day was first celebrated in 1997.
World Cancer Day 2024: 4th February
• World Cancer Day is celebrated on 4th of February every year.
• It is celebrated annually as a global uniting initiative led by the Union for International Cancer
Control (UICC).
• World Cancer Day originated in 2000 at the first World Summit Against Cancer, which was held in
Paris.
• The Day was founded by the Union for International Cancer Control (UICC) to support the goals of
the World Cancer Declaration, written in 2008.
International Development Week 2024: 4th to 10th February
• International Development Week is celebrated every year in the first full week of February (4th to
10th February).
• The aim of International Development Week (IDW) is to draw attention to international
development and shine a spotlight on the important contributions that Canadians are making
through partnerships around the world.
• International Development Week is a national event promoted by the Canadian International
Development Agency (CIDA).
National Day Of Sri Lanka 2024: 4th February
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• The National Day Of Sri Lanka is celebrated on 4th February every year.
• Sri Lanka’s Independence Day is celebrated on the 4th of February to commemorate its internal
political independence from British rule on that day in 1948.
• Every year, February 4 is celebrated as National Day in Sri Lanka.
• It existed as a dominion within the British Empire, and its first Prime Minister was Don Stephen
Senanayake.
Safer Internet Day 2024: 6th February
• Safer Internet Day 2024 is observed on the 6th of February 2024.
• The inaugural Safer Internet Day was observed globally in 2003, and since then, it has been
observed annually.
• On this day, numerous organizations and stakeholders from various nations can demonstrate
their support for a safer online environment.
• In 2004 the EU SafeBorders project launched it, and in 2005 the Insafe network of European
Safer Internet Centers (SICs) adopted it.
International Day Against Female Genital Mutilation: 6th February
• International Day Against Female Genital Mutilation 2024 is observed on the 6th February 2024.
• The Joint Programme on Female Genital Mutilation/Cutting was initiated by UNFPA and UNICEF
in 2007 to accelerate the abandonment of the practice.
• In 2008, WHO and 9 other United Nations partners released a declaration titled "Eliminating
Female Genital Mutilation: An Interagency Statement" regarding the abolition of FGM.
National Deworming Day: 10th February
• National Deworming Day 2024 is observed on the 10th of February 2024.
• Worms can create long-term health issues in Children and interfere with their health, education,
and overall well-being, even if their effects might not be visible immediately.
• Without knowing, children can carry worms for a long time and the only visible symptoms might be
their hindered physical and mental health.
• National Deworming Day was launched first on 10th February 2015.
World Pulses Day: 10th February
• World Pulses Day 2024 is observed on the 10th of February 2024.
• Building on the success and momentum of the I.Y.P., and recognizing the potential of pulses to
further achieve the 2030 Agenda for Sustainable Development, Burkina Faso, a landlocked West
African nation, proposed the global observance of World Pulses Day.
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• On December 20, 2018, the General Assembly of the United Nations proclaimed February 10 as
World Pulses Day through resolution (A/RES/73/251), and the day has been celebrated as a global
event since 2019 and supported by many member nations.
World Day of the Sick 2024: 11th February
• World Day of the Sick is a Catholic Church awareness day, or observance, on February 11, aimed
at praying and sharing, sacrificing one’s suffering for the welfare of the church, and urging
everyone to see the face of Christ in his or her ailing brother or sister.
• On February 11, 1993, the first World Day of the Sick was observed.
International Day of Women and Girls in Science: 11th February
• International Day of Women and Girls in Science 2024 is observed on 11th February.
• The Commission on the Status of Women adopted a report on March 14, 2011, with the goal of
encouraging girls and women to pursue careers in science, technology, engineering, and math.
National Productivity Day: 12th February
• National Productivity Day 2024 is observed on the 12th of February 2024.
• National Productivity Day is commemorated to promote India's productivity culture.
• On February 12, 1958, the National Productivity Council of India was Registered under the
Societies Registration Act XXI, 1860.
• To mark the council's establishment, its members decided to observe National Productivity Day
every year on the same day.
International Epilepsy Day: 12th February
• International Epilepsy Day 2024 is observed on the 12th of February 2024.
• International Epilepsy Day is the brainchild of the International Bureau for Epilepsy and the
International League Against Epilepsy.
• The two organizations have put together various events on the day since their inception.
Abraham Lincoln’s Birthday 2024: 12th February
• Abraham Lincoln's birthday is celebrated every year on February 12th to honour the 16th president
of the United States.
• Abraham Lincoln, who led the nation during the Civil War and advocated for the abolition of
slavery, remains a crucial figure in American history.
• The history of Lincoln's Birthday in 2024 dates back to February 12, 1809, when Abraham Lincoln
was born in Hardin County, Kentucky.
World Radio Day 2024: 13th February
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• World Radio Day is celebrated on 13 February, a date proclaimed by UNESCO to celebrate radio
broadcasts, improve international cooperation among radio broadcasters and encourage decision-
makers to create and provide access to information through radio, including community radios.
• World Radio Day was first proposed by Spain in September 2010.
• With backing from broadcasting associations worldwide, it was unanimously accepted by the
UNESCO Member States in November 2011.
Sarojini Naidu’s Birth Anniversary 2024: 13th February
• Sarojini Naidu’s birth anniversary, which falls on 13 February, is observed as National Women’s
Day across the country.
• Sarojini Naidu’s birthday is celebrated as National Women’s Day in India. She actively worked for
the empowerment of women. She spoke about women’s rights and fought for them. She urged
women to take part in the freedom struggle.
• National Women’s Day is observed on 13 February to celebrate the social, cultural, political, and
economic achievements of women.
Arunachal Pradesh Foundation Day: 20th February

● Arunachal Pradesh Foundation Day 2024 is observed on the 20th of February 2024.
World Day of Social Justice 2024: 20th February
● The United Nations (UN) World Day of Social Justice is annually observed on February 20 to
encourage people to look at how social justice affects poverty eradication.
● 20th February was declared the annual World Day of Social Justice by the United Nations on
November 26, 2007.
● The International Labour Organization (ILO) is the first specialized agency of the United Nations
formed on October 29, 1919.
● ILO is also credited with proposing the observance of February 20th as World Day of Social Justice
adopting the ILO Declaration on Social Justice for a Fair Globalisation at the International Labour
Conference on June 10, 2008.
● The guiding principles behind this declaration are the Philadelphia Declaration of 1944 and the
Declaration on Fundamental Principles and Rights at Work of 1998.
● The contemporary vision of the ILO’s mandate in the era of globalization and the free-market
economy is guided by the Declaration of 2008.
International Mother Language Day 2024: February 21
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● Every year February 21 is celebrated as International Mother Language Day 2024 all over the world.
● It is a worldwide annual observance to bring awareness among people about linguistic and cultural
diversities.
● UNESCO declared February 21st as International Mother Language Day in the year 1999 and has
been witnessed all throughout the world since 2000.
World Thinking Day 2024: 22nd February

● World Thinking Day 2024 is observed on the 22nd of February 2024.
● In 1999, during the Dubai Conference, the name of Thinking Day was changed to ‘World
Thinking Day.’
World Scout Day 2024: 22nd February
● Each year on February 22nd, we honour Robert Baden-birth Powell's anniversary by celebrating
World Scout Day.
● Baden-Powell maintained a testing centre on Brownsea Island, Poole, Dorset, in 1907.
● In 1908, ‘Scouting for Boys’ was published by Baden Powell for the first time.
Central Excise Day 2024: February 24
● Every year February 24 is celebrated as the central Excise Day all over the world.
● The day is being celebrated to honour the service of the Central Board of Excise and Customs
(CBEC) to the country.
● The Central Excise Department was one of the oldest departments in India which was
established in the year 1855, under the British Raj.
● “The Central Excise Act” or “The Central Excise and Salt Act” was regulated in the year 1944, in
which year for the first time Central Excise Day was celebrated but later in the year 1996 these
acts got some changes.
World NGO Day: 27th February
● World NGO Day 2024 is observed on the 27th of February 2024.
● World NGO Day was originally founded in 2009 by Marcis Liors Skadmanis, a social
entrepreneur.
● However, it was observed for the first time on February 27, 2014.
● The holiday was officially declared back in 2010 by the 12 member countries of the Baltic Sea
NGO Forum, recognized as a partner of the Council of the Baltic Sea States.
National Science Day 2024: February 28
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● Every year, National Science Day is celebrated on February 28 all over India.
● It is celebrated every year to mark the discovery of the “Raman effect”.
● The Raman effect was discovered by the Indian scientist Sir C.V. Raman.
● On this day, Sir C.V. Raman got the Nobel prize for his discovery.
● Sukumar Chandra Sirkar (1898-1983) invented science day.
NATIONAL NEWS
India nominates ‘Maratha Military Landscapes’ for 2024-25 UNESCO World Heritage List
• The Ministry of Culture announced that India is nominating the 'Maratha Military Landscape' for
inclusion in the UNESCO World Heritage List for the 2024-25 cycle, with a total of 12
components included in this nomination.
• Suvarnadurg Fort is a part of the historic 'Maratha Military Landscape'.
• 'Maratha Military Landscapes' represents extraordinary fortification and military system
envisioned by the Maratha rulers, showcasing the vibrant history of India.
• Twelve components of this nomination are -- Salher fort, Shivneri fort, Lohgad, Khanderi fort,
Raigad, Rajgad, Pratapgad, Suvarnadurg, Panhala fort, Vijay durg, and Sindhudurg in
Maharashtra, and Gingee fort in Tamil Nadu.
Cabinet approves Signing and ratification of Bilateral Investment Treaty between India and the United
Arab Emirates
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval for
signing and ratification of the Bilateral Investment Treaty between the Government of the
Republic of India and the Government of the United Arab Emirates.
• The Treaty is expected to improve the confidence of the investors, especially large investors,
increasing Foreign Investments and Overseas Direct Investment (ODI) opportunities and this
may have a positive impact on employment generation.
Cabinet approves extension of Animal Husbandry Infrastructure Development Fund

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of
the Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under the
Infrastructure Development Fund (IDF) with an outlay of Rs.29,610.25 crore for another three
years up to 2025-26.
.
• The Government of India will provide 3% interest subvention for 8 years including two years of
the moratorium for loans up to 90% from the scheduled bank and National Cooperative
Development Corporation (NCDC), NABARD and NDDB.
Cabinet approves marketing margin for supply of Domestic gas to Fertilizer (Urea) for the Period
May 2009 – November 2015
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for
determination of Marketing Margin on supply of domestic gas to Fertilizer (Urea) Units for the
period from May 1, 2009 to November 17, 2015.
• This approval is a structural reform. Marketing Margin is charged by gas marketing company
from consumers over and above the cost of gas for taking on the additional risk and cost
associated with marketing of gas.
Cabinet approves Scheme of Sugar Subsidy for AAY Families under PDS
• The Union Cabinet chaired by Prime Minister Shri Narender Modi approved an extension of
scheme of sugar subsidy for Antyodya Anna Yojna (AAY) families distributed through the Public
Distribution Scheme (PDS) for two more years i.e. 31 March 2026.
• Under the Scheme, the Central Government gives subsidy of Rs.18.50 per kg per month of sugar
to AAY families of participating States.
• The approval is expected to extend benefits of more than Rs.1850 crore during period of 15th
Finance Commission (2020-21 to 2025-26).
Cabinet approves continuation of Scheme for Rebate of State and Central Taxes and Levies for
export of Apparel/Garments
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of
the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for the export of
Apparel/Garments and Made ups upto 31st March 2026.
• Continuation of the Scheme for proposed two (2) years will provide stable policy regime which is
essential for long term trade planning, more so in the textiles sector where orders can be placed
in advance for long term delivery.
Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi launches C-CARES, web
portal of CMPFO
• Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi launched a web portal
of CMPFO namely C- CARES developed and designed by the Centre for Development of
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Advanced Computing (C-DAC), an R&D organization under the Ministry of Electronics and
Information Technology on 31st January, 2024.
• This marks a significant leap in the digitization journey of CMPFO aiming to address the long-
standing issue of digitizing its records and work process.
• Coal Mines Provident Fund Organization (CMPFO) is an autonomous organization under the
aegis of the Ministry of Coal established in the year 1948 to administer Provident Fund and
Pension schemes to provide social security to the coal sector workers.
Union Minister of Coal, Mines and Parliamentary Affairs, Shri Pralhad Joshi inaugurated three CSR
initiatives of Coal India Limited
• Union Minister of Coal, Mines and Parliamentary Affairs, Shri Pralhad Joshi inaugurated three
initiatives being undertaken as Corporate Social Responsibility of Coal India Limited (CIL) in
collaboration with Educational Consultants Limited (EDCIL), National Skill Development
Corporation and TATA STRIVE on 31st January,2024.
• It marks a watershed step to fulfil Prime Minister Shri Narendra Modi’s vision of ‘Viksit Bharat’
and ‘Digital Bharat’.
Shri Dharmendra Pradhan launches MoE - AICTE Investor Network
• Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra
Pradhan launched ‘Ministry of Education - AICTE Investor Network’ in New Delhi.
• The MoE - AICTE Investor Network is a ground-breaking initiative jointly established by AICTE
and the Ministry of Education’s Innovation Cell (MIC) with a vision to foster innovation and
entrepreneurship in the education sector.
• The Interim Union Budget for the financial year 2024-25 was tabled in the Parliament by Finance
Minister Nirmala Sitharaman.
• This was the sixth budget presented by the current FM and the last one of Prime Minister
Narendra Modi-led government's second term.
• The budget focused on fiscal consolidation, infra, agri, green growth, and railways.
Prime Minister to inaugurate and lay foundation stones of various developmental initiatives in Guwahati
• Prime Minister Narendra Modi will inaugurate and lay the foundation stones of various
developmental initiatives worth 11,599 crore rupees in Assam.
• The Assam Chief Minister Dr. Himanta Biswa Sarma informed that the Prime Minister will reach
Guwahati for a two-day visit.
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• Mr. Sarma informed that the Prime Minister will inaugurate and lay the foundation stones of several
projects virtually from the public meeting at the Veterinary College Play Ground in Guwahati.
The Ministry of Coal has several projects that the Prime Minister will inaugurate for Mahanadi Coalfields
Limited.
• PM GatiShakti's National Master Plan for providing multi-model connectivity and reducing logistics
costs by enhancing efficiency, the Ministry of Coal has undertaken large-scale infrastructure
augmentation to further step up the efficient evacuation of coal.
• To augment the railway network in coal-producing areas, Joint Venture of CIL, IRCON and the
Government of Odisha have been formed as “Mahanadi Coal Rail Ltd”.
ASCI issues guidelines to ensure honest environmental claims in ads

• The Advertising Standards Council of India (ASCI) has finalised guidelines to prevent deceptive or
unsubstantiated environment-related claims by brands in advertising often referred to as
greenwashing.
• These guidelines which will come into effect from February 15, state that absolute claims such as
“environment friendly”, “eco-friendly”, “planet friendly” or “sustainable” must be substantiated with
robust data backed by credible accreditations.
About ASCI
• ASCI is working closely with the Department of Consumer Affairs on the issue of prevention of
greenwashing in ads.
• Manisha Kapoor, CEO and Secretary-General, ASCI.
PM Modi lays foundation stone for projects worth Rs 68,000 crore in Odisha
foundation stone for projects worth more than Rs 68,000 crore in Sambalpur, Odisha
• It aimed at boosting the energy sector involving natural gas, coal and power generation apart from
important projects of road, railway and higher education sector.
• Shri Modi also took a walkthrough of the IIM Sambalpur model and a photo exhibition showcased
on the occasion.
Shri Narendra Modi Unveils Projects Worth Rs 11,000 Cr In Assam
• The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for projects
worth Rs 11,000 crores in Guwahati, Assam.
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• The key focus areas in Guwahati include projects to boost sports & medical infrastructure and
connectivity.
• Providing world-class amenities to people visiting pilgrimage sites has been a key focus area of the
Prime Minister.
India’s UPI Formally Launched In France At Paris’ Iconic Eiffel Tower
• India formally launched the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris.
• Making the announcement, the Indian Embassy in France termed it as part of Prime Minister
Narendra Modi's vision of taking UPI, global.
• The UPI was formally launched at the Republic Day reception held in France.
• The UPI is India's mobile-based payment system developed by the National Payments Corporation
of India (NPIL) in 2016.
Indian Institute of Mass Communication declared as a deemed to be University
• The Indian Institute of Mass Communication, a leading institution for Journalism and Mass
Communication, has been declared by the Ministry of Education, on the advice of UGC, as a
deemed to be university under a distinct category.
• The declaration extends to IIMC New Delhi and its five regional campuses located in Jammu
(Jammu & Kashmir), Amravati (Maharashtra), Aizawl (Mizoram), Kottayam (Kerala), and
Dhenkanal (Odisha).
CMFRI to develop lab-grown fish meat for the first time in India
• An Indian Council of Agricultural Research (ICAR) institute has signed a first-of-its-kind agreement
in India with a start-up to develop lab-grown fish meat.
• The Kochi-based Central Marine Fisheries Research Institute (CMFRI) has entered into a
collaborative research agreement with Neat Meatt Biotech, a start-up working on cultivated meat.
• Israel is a frontrunner, followed by Singapore, the United States, and China.
Shri Nitin Gadkari inaugurates flyover built for Rs 300 crore at Uttar Pradesh
• Union Road Transport and Highways Minister Nitin Gadkari inaugurated the flyover built for 300
crore rupees in Lakhimpur Kheri district of Uttar Pradesh through video conferencing.
• The construction of ROB and flyover will bring more ease in traffic between Lakhimpur and
Sitapur districts.
• These projects will prove to be a milestone in the industrial development of Lakhimpur district
and the produce of local traders and farmers will be easily accessible to the markets.
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Retain defamation as offence in criminal law: Law Commission Report

• The 22nd Law Commission of India led by Justice Ritu Raj Awasthi has recommended that the
offence of criminal defamation should be retained in the new criminal laws.
• The first pre-independence law commission was established in 1834 by the British Government
in India.
• It was established by the Charter Act of 1833 and was chaired by Lord Macaulay.
• The first Law Commission of independent India was established in 1955 under the chairmanship
of the former Attorney General for India C. Setalvad.
• The 22nd Law Commission of India has submitted its Report No. 284 titled “Revisiting The Law
On Prevention of Damage to Public Property” to the Government of India.
Centre merges 4 Home Minister's medals into one as 'Kendriya Grihmantri Dakshata Padak'
• Union Ministry of Home Affairs (MHA) introduced a new medal, Kendriya Grihmantri Dakshata
Padak.
• Kendriya Grihmantri Dakshata Padak has been created after merging four existing medals –
Union Home Minister’s Special Operation Medal, Union Home Minister’s Medal for Excellence in
Investigation, Asadharan Aasuchana Kushalata Padak and Union Home Minister’s Awards for
Meritorious Service in Forensic Science.
Minister Rajeev Chandrasekhar Inaugurates Digital India FutureLABS at IIIT in New Delhi
• Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, and Jal
Shakti, Shri Rajeev Chandrasekhar launched the "Digital India FutureLABS” and delivered the
keynote address at the ‘Digital India FutureLABS Summit 2024,’ focused on ‘Catalyzing the Next-
generation Electronics System Design through Digital India FutureLABS.’
• The Summit also witnessed an announcement of 22 MoUs of C-DAC with Industry for
implementation in the futureLABS.
The first-ever BIMSTEC Aquatic Championship in New Delhi has been inaugurated by Union Minister
Anurag Thakur
• Sports Minister Anurag Thakur inaugurated the first-ever BIMSTEC Aquatic Championship in New
Delhi.
• The championship features the seven BIMSTEC member nations from South and Southeast Asia
competing in distinct aquatic events.
• The sports meet serves as a platform for shared prosperity, fairness, and mutual respect for the
BIMSTEC nations.
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• The BIMSTEC consists of India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand.
Union Minister G Kishan Reddy has laid the foundation stone for the country's first digital National
Museum of Epigraphy in Hyderabad.
• Union Culture Minister, G Kishan Reddy laid the foundation stone for the country's first digital
National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
• The Archaeological Survey of India is establishing the museum and about one lakh ancient
inscriptions of various languages and periods of time will be placed in it.
• Union Finance Minister Nirmala Sitaraman announced last year, the establishment of the Bharat
Shared Repository of Inscriptions (BharatSHRI) with the digitisation of one lakh ancient
inscriptions.
Prime Minister inaugurates projects worth over Rs 1330 crores in Goa.
• The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for development
projects worth over Rs 1330 crores in Viksit Bharat, Viksit Goa 2047 program in Goa.
• Shri Modi also took a walkthrough of the exhibition showcased on the occasion. The development
projects include a boost to infrastructure in the education, sports, water treatment, waste
management and tourism sectors.
• The Prime Minister also distributed appointment orders to 1930 new Government recruits across
various departments under Rozgar Mela and also handed over sanction letters to beneficiaries of
various welfare schemes.
Indian Prime Minister has inaugurated India Energy Week in 2024.
• The Prime Minister, Shri Narendra Modi inaugurated India Energy Week 2024 in Goa.
• India Energy Week 2024 is India’s largest and only all-encompassing energy exhibition and
conference, bringing together the entire energy value chain to catalyze India's energy transition
goals.
• The Prime Minister also held a roundtable with Global oil & gas CEOs and experts.
• India Energy Week 2024 is taking place at a significant period when India’s GDP rate crossed 7.5
per cent in the first six months of the financial year, the Prime Minister said that the growth rate is
higher than the global growth estimate making India the fastest growing economy in the world.
Union Minister Nitin Gadkari approves ₹2,248.94 crore for the construction of the Lada-Sarli section of
NH-913 in Arunachal Pradesh.
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• Union Minister of Road Transport & Highways, Shri Nitin Gadkari has approved a fund of Rs.
2,248.94 crores for the construction of the Lada-Sarli section of NH-913 (Frontier Highway) in
Arunachal Pradesh on EPC mode, spanning 105.59 km across Packages 1, 2, 3, & 6.
• This vital project, dedicated to providing a swift communication network for security forces, is
poised to stimulate economic activities, fostering reverse migration towards vibrant border areas.
Indian Prime Minister Narendra Modi inaugurated the Commonwealth Attorneys and Solicitors General
Conference (CLEA) in New Delhi.
• Prime Minister Shri Narendra Modi inaugurated the Commonwealth Legal Education Association
(CLEA) - Commonwealth Attorneys and Solicitors General Conference in New Delhi.
• The theme of this conference is Cross-Border Challenges in Justice Delivery.
• During the conference, important issues of law and justice will be deliberated.
• Some of these issues are judicial transition and the ethical dimensions of legal practice, executive
accountability and revisiting modern-day legal education.
Uttarakhand Cabinet clears Uniform Civil Code bill, to be tabled in Assembly
• The government-appointed panel to draft the Uniform Civil Code (UCC) handed over an important
document to Uttarakhand Chief Minister Pushkar Singh Dhami.
• The draft will be examined, studied, and discussed before presenting it in the Assembly.
• The five-member committee was headed by retired Supreme Court judge Ranjana Prakash Desai.
Shri Pashupati Kumar Paras launches 'SUFALAM', a ground-breaking launch for food processing
entrepreneurs.
• Union Minister of Food Processing Shri Pashupati Kumar Paras emphasised the pivotal role of
startups in the food processing sector.
• Inaugurating "SUFALAM: Start-Up Forum for Aspiring Leaders and Mentors Startup Conclave
2024" he highlighted the significance of events like SUFALAM, emphasizing their potential to
enhance networking, facilitate knowledge sharing, and enable startups to leverage various
government schemes.
Shri Nitin Gadkari inaugurated and laid foundation stones for 30 National Highway projects worth Rs
4,755 crore in Haridwar, Uttarakhand.
• Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated and laid
foundation stones of 30 National Highway projects worth Rs 4,755 crore in Haridwar, Uttarakhand
in the presence of Chief Minister Shri Pushkar Singh Dhami, MP Shri Ramesh Pokhriyal Nishank,
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former Chief Minister and MP Shri Tirath Singh Rawat, Rajya Sabha MP Smt. Dr. Kalpana Saini,
MP Shri Naresh Bansal, Uttarakhand ministers and MP-MLAs, officials and other dignitaries.
• The projects inaugurated include the widening of a 2-lane paved shoulder from Lameri to
Karnaprayag in Rudraprayag and Chamoli and Dudhdhari elevated flyover in Haridwar.
• These projects will not only ease transportation but will also provide better connectivity from
Rishikesh to the India-China border.
Shri Nitin Gadkari has sanctioned Rs. 1742.11 crore for the construction of a 4-lane section on NH-6 in
the Aizawl and Kolasib districts of Mizoram.
• Union Minister of Road Transport & Highways, Shri Nitin Gadkari sanctioned Rs. 1742.11 crore for
the construction of the 4-lane N. Kawnpui (N.Mualvum) – Sairang section on NH-6, situated along
the Silchar –Valrengte – Sairang road in the Aizawl and Kolasib districts in Mizoram
• Shri Gadkari said this 24.41 km project will be executed under the Engineering, Procurement, and
Construction (EPC) mode as part of National Highway
(Original) – North East (NH(O)-NE).
Shri Pashupati Kumar Paras launches 'SUFALAM', a ground-breaking launch for food processing
entrepreneurs.
• Union Minister of Food Processing Shri Pashupati Kumar Paras emphasised the pivotal role of
startups in the food processing sector.
• Inaugurating "SUFALAM: Start-Up Forum for Aspiring Leaders and Mentors Startup Conclave
2024" he highlighted the significance of events like SUFALAM, emphasizing their potential to
enhance networking, facilitate knowledge sharing, and enable startups to leverage various
government schemes.
UPI services from India have been introduced in Sri Lanka and Mauritius:
• India's Unified Payment Interface (UPI) services have been rolled out in Sri Lanka and Mauritius.
• Prime Minister Narendra Modi, President of Sri Lanka Ranil Wickremesinghe and Prime Minister of
Mauritius Pravind Jugnauth witnessed the launch of UPI services in the island nations.
• The RuPay card services were also launched in Mauritius.
• Sri Lankan Prime Minister Ranil Wickremasinghe informed, for thousands of years, payments have
taken place between India and Sri Lanka.
Ahmedabad's development projects will be inaugurated and laid out by the Home Minister
• Union Home Minister Amit Shah will inaugurate and lay the foundation of various developmental
projects of Ahmedabad Municipal Corporation worth over 1,500 crore in Ahmedabad.
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• The developmental works include projects of water distribution, housing, urban health centers and
urban infrastructure.
Nirmala Sitharaman presents 'White paper' on Indian economy in Lok Sabha
• Finance Minister Nirmala Sitharaman tabled a White Paper in Parliament.
• The paper called the tenure of Manmohan Singh, the Prime Minister during UPA regime (2004-
14), as a “lost decade”.
• It said that Manmohan Singh’s tenure failed to capitalise on the strong foundational economy.
• The paper reiterated that the Amrit Kaal (25 years period) and next destination is making India a
developed nation by 2047.
• According to the white paper, the average annual inflation rate between 2004 and 2014 was
around 8.2%.
Microsoft plans to train more than 2 million individuals in India with generative AI skills by the year 2025:
• Chairman and CEO of Microsoft Satya Nadella has announced that the company will train over 2
million people in India in generative Artificial Intelligence skills by 2025.
• At an event organised by the company in Mumbai, Mr Nadella talked about the cooperation
between the United States and India on AI.
• The Indian-origin Microsoft chief said that AI can help boost GDP growth in the country.
Shri Dharmendra Pradhan has launched the EdCIL Vidyanjali Scholarship Programme in New Delhi.
• Minister of Education, Skill Development, and Entrepreneurship Dharmendra Pradhan launched
the EdCIL Vidyanjali Scholarship Programme in New Delhi.
• Addressing the event, Mr. Pradhan, as envisioned in the New Education Policy 2020, the
Vidyanjali Scholarship Program symbolises a whole-of-society approach to empowerment through
access and educational opportunities.
The 2024 theme for National Science Day, unveiled by Union Minister Dr. Jitendra Singh, is "Indigenous
Technologies for Viksit Bharat."
• Union Minister of Science and Technology Dr Jitendra Singh today released the theme for the
"National Science Day 2024", titled "Indigenous Technologies for Viksit Bharat" in New Delhi.
• The theme reflects a strategic focus on promoting public appreciation for Science, Technology and
Innovation and the accomplishments of Indian scientists to address challenges through home-
grown technologies for overall well-being.
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• The National Science Day is celebrated every year on 28 February to commemorate the discovery
of the ‘Raman Effect’.
Government allocates Rs 455 crore for green hydrogen pilot projects in the steel sector
• The government has allocated Rs 455 crore of Central Financial Assistance till the financial year
2029-30 (FY30) for the usage of green hydrogen in the steel industry sector.
• The Ministry of New and Renewable Energy released scheme guidelines for implementations of
pilot projects for the use of green hydrogen in the sector under the National Green Hydrogen
Mission.
IRMA, NCDEX launch centre in Gujarat to promote commodity derivatives market

• The National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management
Anand (IRMA) launched a centre of excellence in Anand, Gujarat, for the growth of the commodity
derivatives market.
• A national workshop on strategizing the establishment of Cooperative Economic Zones (CEZs) in
India was jointly organized by IRMA, NCDEX- Investor Protection Fund Trust (IPFT) and the World
Cooperation Economic Forum (WCopEF).
PMFBY framework is being governed by Union Minister Arun Munda's launch of LMS, Krishi Rakshak
Portal, helpline, and SARTHI initiative.
• Union Agriculture and Farmers Welfare Minister Arjun Munda launched LMS, Krishi Rakshak
Portal and helpline and SARTHI initiative under Prime Minister Fasal Bima Yojana, PMFBY in New
Delhi.
• Through these initiatives insured farmers will benefit and their risk will be also reduced.
• The Krishi Rakshak Portal and Helpline is an integrated grievance redressal mechanism having a
digital portal and a call centre that has been developed to enable farmers to lodge their grievances,
concerns and queries.
The government has approved 64 applicants who have committed investments worth over 6,700 crore
rupees under the PLI Scheme for White Goods.
• The government has approved a committed investment of 6 thousand 766 crore rupees to the 64
Applicants under the Production Linked Incentive Scheme (PLI) for White Goods containing Air
Conditioners and LED lights.
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• The Ministry of Commerce and Industry has informed us that all those companies who opted for
the Gestation Period 2021-22 have been commissioned. It added they have achieved 234% of
their total threshold investment.
• The Department for Promotion of Industry and Internal Trade is currently implementing the PLI
Scheme for White Goods as one of the PLI Schemes out of the 14 PLI Schemes of the
A proposal to provide free cashless treatment to all road crash victims has been finalized by the Ministry
of Road Transport.
• The Ministry of Road Transport has finalized a proposal to provide free cashless treatment to all
victims of road crashes.
• Under this scheme, road crash victims will receive medical care at Ayushman Bharat-empanelled
hospitals across the country.
• The upper limit for the treatment will be Rs 1.5 lakh, covering up to 10 days of hospitalization.
• The cost of the treatment will be borne by insurance companies.
• This initiative aims to ensure timely medical assistance to road crash victims within the first 60
minutes, also known as the 'golden hour'.
India, Turkey, and Qatar were named Guests of Honor at the 2024 World Governments Summit in
Dubai.
• India, Türkiye, and Qatar have been declared the guests of honour at the 2024 World
Governments Summit which is set to take place in Dubai from February 12-14.
• The summit, themed 'Shaping Future Governments,' will see the participation of over 25
government and state heads worldwide.
• The delegations from Türkiye, India, and Qatar will be led by their respective leaders: President
Recep Tayyip Erdogan, Prime Minister Narendra Modi, and Prime Minister and Foreign Minister
Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani.
About Turkey
• Capital: Ankara
• Currency: Turkish lira
About Qatar
• Capital: Doha
• Currency: Qatari Riyal
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“Doubling of Motumari - Vishnupuram” and "Rail Over Rail at Motumari: Approval is given by the
Cabinet Committee on Economic Affairs.
• The Cabinet Committee of Economic Affairs approved “Doubling of Motumari - Vishnupuram” and
"Rail Over Rail at Motumari ”.
• Both projects have been approved at an estimated cost of nearly 1,740 crore rupees.
• The Projects falling in the States of Telangana and Andhra Pradesh are likely to boost the
socioeconomic development of the region.
UNION MINISTER DHARMENDRA PRADHAN INAUGURATES THE NEW DELHI WORLD BOOK
FAIR
• Union Minister of Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan
inaugurated the New Delhi World Book Fair at Bharat Mandapam, New Delhi.
• Inaugurating the 52nd edition of the New Delhi World Book Fair Shri Pradhan highlighted that this
year's theme of the fair ‘Multilingual India: A Living Tradition’ is celebrating India’s linguistic
diversity and global literary traditions.
• Shri Dharmendra Pradhan launched the app of the National Digital Libraries for All, announced in
the Budget 2023-34.
India set to transition to hyperlocal extreme weather forecasting

• The Union Ministry of Agriculture & Farmers Welfare, Government of India, has initiated the
weather information network and data system (WINDS) to generate long-term, hyper-local weather
data.
• WINDS Portal is a promising step forward by the Department of Agriculture & Farmers Welfare
launched in July 2023.
• In India, the Indian Meteorology Department (IMD) is the principal government agency in all
matters relating to meteorology.
A new portal has been launched by the Union Minister for the Animal Husbandry Infrastructure
Development Fund.
● Union Minister of Fisheries, Animal Husbandry and Dairying Shri Parshottam Rupala launched a
renewed portal of the Animal Husbandry Infrastructure Development Fund (AHIDF) and also
released its Radio Jingle at a function in New Delhi.
● The AHIDF is a Credit Guarantee Scheme to support the livestock sector's Micro, Small and
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Medium Enterprises without the need of collateral.

● The government has approved the continuation of AHIDF with an outlay of around 30 thousand
crore rupees for another three years up to 2025-26.
The PM-SVANidhi increased street vendors' yearly income by Rs 23,000:
● According to a study, the first tranche of 10,000 provided under the PM-SVANidhi has increased the
annual income of Rs. 23,460 street vendors.
● This study was carried out by the Centre for Analytical Finance of the Indian School of Business
(ISB).
● PM SVANidhi was launched in 2020 to help street vendors resume their livelihoods impacted by the
Covid-19 lockdown.
● PM-SVANidhi portal shows that 60.65 lakh first-term loans, 16.95 lakh second-term loans and 2.43
lakh third-term loans have been disbursed.
● PM SVANidhi was launched in 2020 to help street vendors resume their livelihood impacted by the
Covid-19 lockdown, by offering them affordable working capital loans.
● To begin with, a beneficiary can avail `10,000 and, upon its repayment, `20,000.
● On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the
bank accounts of beneficiaries through Direct Benefit Transfer every quarter.
● Implementation agency: Small Industries Development Bank of India (SIDBI).
● It is a Central Sector Scheme i.e., fully funded by the Ministry of Housing and Urban Affairs.
NITI Aayog launches GROW initiative to transform India's wastelands through agroforestry
● Greening and Restoration of Wasteland with Agroforestry (GROW) report and portal was launched
by Prof Ramesh Chand, Member, NITI Aayog at NITI Aayog.
● 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.
● The GROW initiative aligns with national commitments, aiming to restore 26 million hectares of
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degraded land by 2030 and create an additional carbon sink of 2.5 to 3 billion tonnes of carbon
dioxide equivalent.
Unemployment rate drops to 6.5% in Oct-Dec 2023: NSO
● India recorded a decline in the unemployment rate in urban areas, dropping from 7.2% to 6.5%
between October–December 2022 and October–December 2023 for individuals aged 15 years and
above, the latest Periodic Labour Force Survey (PLFS) by the National Sample Survey Office
(NSSO) shows.
● Considering the importance of the availability of labour force data at more frequent time intervals, the
National Sample Survey Office (NSSO) launched the Periodic Labour Force Survey (PLFS) in April
2017.
● The objective of PLFS is primarily twofold to estimate the key employment and unemployment
indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in
the short time interval of three months for the urban areas only in the ‘Current Weekly Status’
(CWS).
● The present Quarterly Bulletin is the twenty-first in the series for the quarter October –December
2023.
● Labour Force Participation Rate (LFPR) in urban areas increased from 48.2% in October –
December 2022 to 49.9% in October – December 2023 for persons aged 15 years in above.
● While for male LFPR increased from 73.3% to 74.1% during this period, for females, LFPR
increased from 22.3% to 25.0% during this period.
● Worker Population Ratio (WPR) in urban areas increased from 44.7% in October – December 2022
to 46.6% in October – December 2023 for persons of age 15 years in above. For male, it increased
from 68.6% to 69.8% during this period and for females, it increased from 20.2% to 22.9% during
this period.
● Unemployment Rate (UR) in urban areas decreased from 7.2% in October – December 2022 to
6.5% in October – December 2023 for persons of age 15 years in above.
Ministry of Information and Broadcasting is organising a two-day regional Community Radio Sammelan
at Anna University in Chennai
● The Ministry of Information and Broadcasting is organising a regional Community Radio Sammelan
(South) at Anna University Chennai celebrating 20 years of Community Radio in India.
● All the 117 Community Radio Stations of southern States/UT’s will be participating in the event.
● The journey of Community Radio in India, started in the year 2002, when the Government of India
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approved a Policy for the grant of licenses for setting up of Community Radio Stations.
● As a result, the first Community Radio Station was inaugurated by Bharat Ratna Shri. L.K Advani on
1st February 2004.
In Rewari, Haryana, Prime Minister Modi lays the groundwork for a number of development projects
valued at over nine hundred crore.
● Prime Minister Narendra Modi laid the foundation stone of several developmental projects worth
more than nine thousand seven hundred crore rupees at Rewari in Haryana.
● These projects are related to urban transport, health, rail, and tourism sectors.
● In line with the Prime Minister's vision to strengthen public health infrastructure across the country,
the foundation stone of All India Institute of Medical Sciences (AIIMS), Rewari, Haryana, was laid
● Another project is the Gurugram Metro Rail project, which will be built at a cost of around five
thousand 450 crore rupees.
The Prime Minister will introduce numerous development initiatives and discuss the "Viksit Bharat Viksit
Rajasthan" program.
● Prime Minister Narendra Modi inaugurated and laid the foundation stone of multiple development
projects worth over Rs 17,000 crore in Rajasthan under the ‘Viksit Bharat Viksit Rajasthan’
programme via video conferencing.
● These projects cater to a number of important sectors including Roads, Railways, Solar Energy,
Power Transmission, Drinking water, and Petroleum & Natural Gas.
The Indian government has strengthened the agriculture sector by increasing the Food Corporation of
India's authorized capital from Rs 10,000 crore to Rs 21,000 crore.
● In a landmark decision aimed at bolstering the agricultural sector and ensuring the welfare of
farmers nationwide, the Government of India (GoI) has announced an increase in the authorized
capital of the Food Corporation of India (FCI) from Rs 10,000 Crore to Rs 21,000 Crore.
● This strategic move shows the government's steadfast commitment to supporting farmers and
fortifying India's agrarian economy.
● The increase in authorized capital is a significant step towards enhancing the operational capabilities
of FCI in fulfilling its mandate effectively.
India's gas demand to rise 6% in 2024: IEA
● India's natural gas demand is expected to rise by 6 per cent in 2024 with a rise in consumption in
fertiliser units, power generation and industrial sectors, according to the International Energy Agency
(IEA).
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● India's natural gas demand had risen to 64 billion cubic meters in 2023.
● India to increase its LNG imports in 2024 by 7 per cent, fuelled by demand from the power and
fertiliser sectors, as the country plans to stop importing urea by 2025.
About IEA
● The International Energy Agency is a Paris-based autonomous intergovernmental organisation,
established in 1974.
● The 31 member countries and 13 association countries of the IEA represent 75% of global energy
demand.
● Headquarters: Paris, France
The Prime Minister will essentially open the fourth round of the Khelo India University Games.
● Prime Minister Shri Narendra Modi will virtually inaugurate the 4th edition of Khelo India University
Games - 2023, Ashtalakshmi at Sarusajai Sports Complex in Guwahati, Assam.
● A total of 16 sporting disciplines are being held in Guwahati of the total 20 sporting disciplines
and the remaining 4 disciplines in other North Eastern states.
● The event is being organised at 18 venues in 7 cities during 11 days duration where around 4500
athletes are participating in 20 sporting disciplines.
● Over 215 universities are participating in this mega university event.
● The Khelo India University Games - 2023, Ashtalakshmi will conclude on 29th February, 2024.
Initiatives totalling Rs. 254 crores will be launched at Pandu Port in Guwahati by Shri Sarbananda
Sonowal.
● In a significant push towards revitalizing the Inland Water Transport (IWT) sector and bolstering
connectivity in the North Eastern Region, Union Minister of Ports, Shipping, and Waterways, Shri
Sarbananda Sonowal will inaugurate pivotal projects of more than Rs. 254 crore at Pandu Port,
Guwahati.
● Shri Sonowal will inaugurate Passenger-cum-Cargo Terminal at Bogibeel worth Rs. 46.60 crore,
Inland Water Transport Terminal at Sonamura worth Rs. 6.91 crore, upgraded Terminal at Karimganj
and Badarpur worth Rs. 6.40 crore.
● During the event he will also announce six Jetties at various locations on River Brahmaputra worth
Rs. 8.45 crore, 19 passenger vessels for National Waterway-2 and National Waterway-16 worth Rs.
25 crore, and an Extension of Jetty, Integrated Office and Bank Protection worth Rs. 30 crore.
The ninth iteration of the RAISINA Dialogue will be launched in Delhi by Prime Minister
● Prime Minister Narendra Modi will inaugurate the 9th edition of Raisina Dialogue in Delhi.
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● Prime Minister of Greece, Kyriakos Mitsotakis, will join the inaugural session as the Chief Guest, and
deliver the keynote address.
● The three-day Raisina Dialogue will witness the participation of representatives from over 100
countries including Ministers, former Heads of State and Heads of Government, Military
Commanders, Captains of Industry, Technology Leaders, Academics, Journalists, and Scholars on
Strategic Affairs.
● The Raisina Dialogue is India’s flagship conference on geopolitics and geo-economics.
● It is committed to addressing the most challenging issues facing the international community.
● The theme of this edition is "Chaturanga: Conflict, Contest, Cooperate, Create”.
India donates one million US dollars to the Poverty and Hunger Alleviation Fund.
● India has contributed 1 million US Dollars to the Poverty and Hunger Alleviation Fund established by
India, Brazil, and South Africa, IBSA.
● The fund is aimed at alleviating poverty and hunger. India’s Permanent Representative to the UN,
Ambassador Ruchira Kamboj handed over the cheque to the Director of the UN Office for South-
South Cooperation (UNOSSC) Dima Al-Khatib.
● The IBSA Facility for Poverty and Hunger Alleviation (IBSA Fund) was established jointly by
grouping in March 2004 and it became operational in 2006.
● The purpose of the fund is to identify replicable and scalable projects that can be disseminated to
developing countries on a demand-driven basis.
Indian Prime Minister inaugurates and places the cornerstone for many development projects in Jammu
& Kashmir valued at over Rs 32,000 crore.
● The Prime Minister, Shri Narendra Modi inaugurated, dedicated to the nation and laid the foundation
stone of multiple development projects worth over Rs 32,000 crores in Jammu.
● The projects relate to several sectors including health, education, rail, road, aviation, petroleum, and
civic infrastructure among others.
● The Prime Minister also distributed appointment orders to about 1500 new Government recruits of
Jammu and Kashmir.
Centre constitutes a Committee to draft guidelines to address pesky, unsolicited commercial calls
issues
● The Central government has set up a committee to formulate guidelines to address the issue of
pesky, promotional or unsolicited commercial calls received by consumers.
● The Department of Consumer Affairs (DoCA) has constituted a committee in this regard.
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Prime Minister inaugurates and lays the foundation stone of projects worth over 13,000 crore at Tarabh,
Mesana.
● Prime Minister Narendra Modi inaugurated and laid the foundation stone of projects worth over 13
thousand crore at Tarabh in Mesana.
● These include the launch of Bharat Net Phase-II - Gujarat Fibre Grid Network Limited, which will
provide high-speed internet to more than 8000 gram panchayats.
● During the program, the Prime Minister laid the foundation stone of several important projects
including multiple road projects in Gandhinagar, Ahmedabad, Banaskantha, and Mahesana; the
Runway of Air Force Station, Deesa, Gujarat Biotechnology Research (GBRC)’s new building at
GIFT city among others.
The WHO's Global Initiative on Digital Health was launched by Union Minister Mansukh Mandaviya.
● Union Minister of Health and Family Welfare Dr Mansukh Mandaviya virtually addressed the public
launch event of the World Health Organization’s Global Initiative on Digital Health (GIDH).
● The GIDH is a WHO-managed network which was unanimously adopted by all G20 countries,
invited countries and international organizations.
● It was collectively launched as a key deliverable of India’s G20 Presidency during the Health
Ministers’ Meeting in Gandhinagar last year.
Women's Safety Scheme should be extended until 2025–2026, according to the Union Government
● The Union Government has approved the proposal of the Ministry of Home Affairs of the
continuation of the implementation of the Umbrella Scheme on ‘Safety of Women’ at a total cost of
around one thousand 180 crore rupees during the period from 2021-22 to 2025-26.
● The decision was taken at a Union Cabinet meeting chaired by Prime Minister Narendra Modi.
● Information and Broadcasting Minister Anurag Singh Thakur said 24-hour emergency helpline
service 112 will be scaled up under it.
● He also informed that for scientific and timely investigation, six cyber forensic science laboratories
are being set up at Pune, Chandigarh, Kolkata, Delhi, Kamrup, and Bhopal.
In Gujarat, Prime Minister Modi will unveil many development initiatives valued at 55,500 crore rupees.
● Prime Minister Narendra Modi will inaugurate and lay the foundation stone of multiple development
projects worth 55,500 crore rupees in Gujarat.
● During his day-long visit to Gujarat, PM will attend programs at Ahmedabad, Mahesana, and Navsari
and will launch several projects related to road, rail, energy, health, internet connectivity, urban
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development, water supply, and tourism sectors.

● The PM will participate in the Golden Jubilee celebration of the Gujarat Cooperative Milk Marketing
Federation popularly known as Amul at Narendra Modi Stadium in Ahmedabad.
18 National Highway Projects totalling Rs 7,290 crore are inaugurated and the foundation stone is laid
by Shri Nitin Gadkari at Belagavi, Karnataka.
● In a significant stride towards advancing modern road connectivity in Karnataka, Union Minister for
Road Transport and Highways Shri Nitin Gadkari inaugurated and laid the foundation stone for 18
National Highway Projects with a total investment of ₹7,290 crore.
● The ceremony took place in the presence of Karnataka PWD Minister Shri Satish Jarkiholi Ji,
Members of Parliament, MLCs, MLAs, and Senior Officials in Belagavi, Karnataka.
● These transformative road initiatives are poised to integrate the region into a world-class network,
fostering economic growth and generating employment.
The Global Textile Expo-Bharat Tex 2024 will be opened by Prime Minister
● Prime Minister Narendra Modi will inaugurate Global Textile Expo-Bharat Tex 2024 on 26th February
in New Delhi.
● Ministry of Textiles, Secretary, Rachna Shah said that the four long day long Bharat Tex will be
spread over a 22 lakh square feet exhibition area across Bharat Mandapam and Yashobhoomi.
● Being organised by a consortium of 11 Textile Export Promotion Councils and supported by the
Ministry of Textiles.
● 46 Memorandum of Understandings (MOUs) will be signed during the event including international
partnerships.
Prime Minister sanctions INR 492 crore Puri-Konark new rail line in Odisha
● Prime Minister Narendra Modi has sanctioned a new railway line project to connect the holy city of
Puri with Konark.
● The Union Minister said that Rs 492 crore has been sanctioned for the construction of this 32-km-
long railway line to connect Puri Jagannath temple and the Sun Temple of Konark.
● Shri Vaishnaw also released five Commemorative Postage Stamps on Legendary Poets of Odisha
and the Cultural Heritage of Western Odisha through video conferencing from Bhubaneswar.
● He also inaugurated 42 branch post offices in seven districts of western Odisha.
In Varanasi, the Prime Minister sets the groundwork for several development projects totalling over Rs
13,000 crores for the nation.
● Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for multiple
.
development projects worth more than Rs 13,000 crores in Varanasi.

● The Prime Minister also visited Banas Kashi Sankul, a milk processing unit of Banaskantha District
Cooperative Milk Producers Union Ltd built at UPSIDA Agro Park, Karkhiyaon, Varanasi and
interacted with cow beneficiaries.
The first-mile connectivity projects of South Eastern Coalfields Limited in Chhattisgarh will be
inaugurated by Prime Minister Shri Narendra Modi.
● Prime Minister Shri Narendra Modi is scheduled to inaugurate three key First Mile Connectivity
Projects of South Eastern Coalfields Limited (SECL), a Coal India Subsidiary under the Ministry of
Coal, in Chhattisgarh.
● These projects, valued at over Rs 600 crore, mark a significant step towards faster, eco-friendly, and
efficient mechanized coal evacuation.
● The Dipka OCP Coal Handling Plant, located in SECL's Dipka Area, stands out as a key project
constructed at a cost exceeding Rs. 211 Crore.
● With an annual coal handling capacity of 25 MT, the project features an above ground bunker
capacity of 20,000 tons and a 2.1 km long conveyor belt, facilitating the rapid loading of 4,500 –
8,500 tons of coal per hour.
Gujarat's "Sudarshan Setu," the nation's longest cable-stayed bridge, was opened by Prime Minister
Modi.
● Prime Minister Narendra Modi inaugurated India’s longest cable-stayed bridge, Sudarshan Setu,
in Gujarat’s Devbhumi Dwarka district.
● On the second day of his Gujarat visit, PM Modi cut the ceremonial ribbon and dedicated the
4.77-km-long Sudarshan Setu, also known as Signature Bridge, to the nation.
● Constructed at Rs 978 crore, it connects Okha town in the Devbhumi Dwarka district with Bet
Dwarka island in the Gulf of Kutch.
The Defence Security Corps commemorates its 77th Raising Day.
● The Defence Security Corps (DSC) is celebrating its 77th Raising Day on 25th February.
● The Corps was raised on this day in 1947 as ‘Defence Department Constabulary’.
● DSC troops have been providing security to various sensitive defence and civil installations
across the length and breadth of the Country since 1947.
In Chhattisgarh, Prime Minister Modi unveils many development initiatives valued at over Rs 35000
crore.
● Prime Minister Narendra Modi virtually dedicated, inaugurated and laid the foundation stone of 10
.
projects worth about Rs 34,400 crore in Chhattisgarh.

● The prime minister officially opened the Lara Super Thermal Power Project Stage-I by the
National Thermal Power Corporation (NTPC) and laid the foundation stone for Stage-II in
Raigarh district.
● The first stage of the project cost Rs 15,800 crore, while the second stage involves an investment
of Rs 15,530 crore.
● Half of the power generated from both stages will go to Chhattisgarh, benefiting other states like
Gujarat, Madhya Pradesh, Maharashtra, Goa, Daman and Diu, and Dadra and Nagar Haveli.
● In efforts to promote renewable energy, the Prime Minister also inaugurated a solar PV project in
Rajnandgaon costing Rs 900 crore, and a 50MW solar power plant in Bhilai, enhancing the use
of solar energy for trains.
● Additionally, the Prime Minister inaugurated three 'First Mile Connectivity (FMC)' projects by
South Eastern Coalfields Limited (SECL), costing over Rs 600 crore collectively.
Union Minister V. Muraleedharan attends the Rio de Janeiro G20 Foreign Ministers' Meeting.
● Minister of State for External Affairs V. Muraleedharan participated in the G20 Foreign Ministers’
Meeting (FMM) held under the Brazilian G20 Presidency in Rio de Janeiro.
● At Session I, the Minister of State expressed India’s steadfast support to Brazil’s G20 Presidency
and noted that four developing countries - Indonesia, India, Brazil and South Africa - are holding
the G20 Presidency in a row.
● Recalling the inclusion of the African Union (AU) in the G20 last year, he welcomed the AU to its
first G20 FMM as a permanent G20 Member.
● At the Session-II, Mr. Muraleedharan noted that the global order has undergone dramatic
changes since the creation of the present multilateral governance architecture in the 20th
century.
● The Minister of State also participated in the India-Brazil-South Africa (IBSA) Foreign Ministers’
Meeting.
● IBSA Ministers emphasized the importance of IBSA solidarity and convergence, and agreed on
the need to boost functional cooperation in areas of shared interest.
The 23rd Inter-CPSU Cricket Tournament for Power Sector PSUs is hosted by NHPC.
● NHPC has successfully hosted the 23rd Inter Central Public Sector Unit T-20 Cricket tournament
under the aegis of the Power Sports Control Board (PSCB) in Gurugram.
● The final match of the tournament was played between POWERGRID and NTPC.
.
● In an exciting final, NTPC defeated POWERGRID by three runs and emerged victorious as
champions of the 23rd Inter CPSU Cricket tournament 2024.
● The Bhakra Beas Management Board (BBMB) team finished as Second Runner-up.
● A total of 14 teams including teams from the Ministry of Power, NHPC, THDC, NEEPCO, BEE,
DVC, CEA, NTPC, Grid Controller of India, Powergrid, PFC, SJVNL, BBMB and REC had
participated in the tournament.
ESIC extends medical benefits to superannuated insured persons with relaxed norms
● The Employees’ State Insurance Corporation (ESIC) decided to extend medical benefits to
superannuated insured persons with relaxed norms.
● The decision was taken at the 193rd meeting of ESIC under the chairmanship of Union Minister
Bhupender Yadav.
● The ESIC approved a proposal to provide medical benefits to the insured superannuating
workers who went out of the ESI Scheme coverage due to exceeding the wage ceiling, if the
worker was under insurable employment for at least 5 years before superannuation/ voluntary
retirement.
India and Bangladesh collaborate for transboundary tiger conservation in Sunderbans
● A cross-border initiative, focused on harmonious coexistence with tigers in the Sunderbans,
seeks to preserve biodiversity in both India and Bangladesh.
● The people-centric engagement took place at Joymoni, Bagerhat District, Bangladesh on
February 4 to 8 , under the Integrated Tiger Habitat Conservation Program supported by IUCN
(International Union for Conservation of Nature) and Germany’s KfW Development Bank.
● The WTI partnered with the Lokamata Rani Rashmoni Mission, Joynagar (West Bengal), and
WildTeam, Bangladesh, on the initiative.
Global meet urges India to augment pulses production to meet nutritional needs
● The Global Pulses Conference, an annual meeting of pulses producers, processors and traders,
suggested that India augment the production of pulses to meet the nutritional requirements.
● The two-day conference is jointly organised by the National Agricultural Cooperative Marketing
Federation of India Ltd. (NAFED) and the Global Pulse Confederation (GPC) in New Delhi.
● Last decade pulses production had grown by 60% from 171 lakh tonnes in 2014 to 270 lakh tonnes
in 2024.
● Global Pulse Confederation (GPC) membership includes 24 national associations and over 500
private sector members.
.
● It is based in Dubai and licensed by the Dubai Multi Commodity Centre (DMCC).
● India is the largest producer (25% of global production), consumer (27% of world consumption) and
importer (14%) of pulses in the world.
India hikes windfall tax on petroleum crude, diesel
● The Indian government has increased the windfall tax on the sale of domestic crude oil marginally
from ₹3,200 to ₹3,300 per tonne and has also reintroduced a ₹1.5 per litre special additional excise
duty (SAED) on the export of diesel.
● The revised rates shall come into force on the 16th day of February 2024.
● Earlier this month, the government had hiked windfall tax on domestically produced crude oil to
₹3,200 per tonne from ₹1,700 per tonne.
Prime Minister Modi unveils around 2,000 railway development projects worth more than Rs 41,000
crore.
● The Prime Minister, Shri Narendra Modi laid the foundation stone and inaugurated and dedicated to
the Nation around 2000 railway infrastructure projects worth more than Rs. 41,000 crores via video
conferencing.
● Lakhs of people connected with the Viksit Bharat Viksit Railways event from 500 railway stations and
1500 other venues.
● The railways budget has increased manifold in the last ten years and a record two lakh 50 thousand
crore rupees were allocated this year, which were only 45 thousand crore rupees in the year 2014.
● Prime Minister Narendra Modi laid the foundation stone and dedicated around two thousand railway
infrastructure projects worth more than 41 thousand crore rupees to the nation through video
conferencing.
● During the programme, Mr. Modi laid the foundation stone for redevelopment of 553 railway stations
under the Amrit Bharat Station Scheme. These stations, spread across 27 States and Union
Territories, will be redeveloped at a cost of over 19 thousand crore rupees.
● The Prime Minister also inaugurated redeveloped Gomti Nagar station in Uttar Pradesh.
Shri Nitin Gadkari sanctioned Rs 438.34 crores for the building of a two-lane road for Giridih on National
Highway-114 in Jharkhand.
● Union Minister for Road Transport and Highways, Shri Nitin Gadkari in a post said in Jharkhand,
approval has been given for the construction of 2-lane bypass road with paved shoulders around
Giridih town on National Highway- 114 at a cost of Rs 438.34 crore.
.
● Shri Gadkari said the proposed Giridih Bypass will reduce the travel time from Ranchi to Deoghar.
India's weightage climbs to record high on MSCI Global Standard index
● Index provider MSCI raised India's weightage in its Global Standard (Emerging Markets) index to a
historic high of 18.2% following its February review, and the changes will come into effect after
market close on Feb. 29.
● India's weightage in the index has nearly doubled since November 2020.
● India has the second-highest weightage in the MSCI Global Standard index, after China.
● There is potential for India to surpass a 20% weight in the MSCI Global Standard index by early
2024.
● Since January 2021, India's weight in the MSCI Standard Index has more than doubled from 8.9% to
18.2%, whereas China's weight has declined from 40.1% to 25.4% during the same period.
Government branches out: One highly beneficial neem tree for 10 Indians
● The central government plans to increase the number of highly beneficial neem trees in the country
from the existing one tree for every 50 Indians to one tree for every 10 Indians to meet the rising
demand from different sectors for neem oil.
● Presently, India has 18-20 million neem trees in the country, of which 40-45 per cent are in Uttar
Pradesh, followed by Maharashtra, Rajasthan, and Tamil Nadu, among others.
CCPA releases draft guidelines for the prevention of greenwashing
● The Central Consumer Protection Authority has released draft guidelines on the prevention and
regulation of greenwashing for public consultation.
● The Central Consumer Protection Authority has released draft guidelines on the prevention and
regulation of greenwashing for public consultation.
● The draft guidelines state that all green claims must be backed by “verifiable” evidence and full
disclosures regarding claims should be made either directly or through QR code or web links The
draft guidelines state that all green claims must be backed by “verifiable” evidence and full
disclosures regarding claims should be made either directly or through QR code or web links.
Prime Minister dedicates many development projects at Thoothukudi, Tamil Nadu, totalling over Rs
17,300 crores and places the foundation stone for them.
● The Prime Minister, Shri Narendra Modi laid the foundation stone and dedicated to the nation
multiple development projects worth more than Rs 17,300 crores in Thoothukudi, Tamil Nadu.
● The Prime Minister laid the foundation stone of Outer Harbor Container Terminal at
V.O.Chidambaranar Port.
.
● The Prime Minister also launched India's first indigenous green hydrogen fuel cell inland waterway
vessel under the Harit Nauka initiative.
● He dedicated tourist facilities in 75 lighthouses across 10 States/UTs.
● He also dedicated rail projects for doubling of Vanchi Maniyachchi - Nagercoil rail line including the
Vanchi Maniyachchi - Tirunelveli section and Melappalayam - Aralvaymoli section.
● The Prime Minister dedicated four road projects in Tamil Nadu, developed at a total cost of about Rs
4,586 Crore.
Shri Narendra Modi to inaugurate two Coal India first-mile connectivity projects worth Rs 1,400 crores
● Prime Minister, Shri Narendra Modi will inaugurate two significant First Mile Connectivity Projects
(FMC) of Northern Coalfields Limited (NCL), a subsidiary of Coal India Limited (CIL) under the
Ministry of Coal, virtually.
● These projects, valued at Rs 1393.69 Crore and spearheaded by Northern Coalfields Limited,
represent a notable step towards faster, efficient mechanized Coal evacuation contributing to the
reduction of carbon emission.
● The Jayant OCP CHP-SILO boasts a capacity of 15 Million Tonnes Per Annum (MTPA) and has
been developed with an investment of Rs. 723.50 Crore.
● Similarly, the Dudhichua OCP CHP-SILO, with a capacity of 10 Million Tonnes Per Annum (MTPA),
has been constructed with an investment of Rs. 670.19 Crore.
CCS approves ₹19,000 cr deal for 200 BrahMos missiles for Navy
● The Cabinet Committee on Security (CCS) has given its nod for acquiring over 200 BrahMos
Extended Range (ER) supersonic cruise missiles for deployment on Indian Navy warships.
● The deal worth ₹19,000 crore was cleared by CCS.
● The Cabinet Committee on Security (CCS) is headed by the Prime Minister.
● The move comes after the Indian Navy successfully tested the supersonic cruise missile, which has
an extended range of 400 to 500 km, from a Rajput class frigate in the Bay of Bengal on November
1.
● All the three variants of extended versions of BrahMos, a joint venture between India and Russia,
have been successfully test launched from land, air, ship and submarines successfully since last
October.
● In January 2022, India sealed a USD 375 million deal with the Philippines for supplying three
batteries of the missile.
New portal for PSBs to check borrower background
.
● The Central Economic Intelligence Bureau (CEIB) has launched an “Automated Search Portal” to
help public sector banks (PSBs) with antecedent verification of prospective borrowers and non-
performing assets (NPAs).
● The portal, which has been developed by the Bureau in collaboration with the State Bank of India
(SBI), will help PSBs obtain mandatory intelligence clearance from CEIB in a prompt manner, which
in turn will facilitate timely disbursement of funds.
● As per the “Framework for timely detection, reporting, investigation etc. relating to large value bank
frauds” (May 13, 2015 and November 6, 2019) issued by the Department of Financial Services,
Ministry of Finance, PSBs seek report from the Bureau before sanction of loan exceeding ₹50 crore
and above in case of new borrowers and if the existing borrower’s accounts turn NPA.
Golden Jubilee Celebration Of The Gujarat Cooperative Milk Marketing Federation In The Esteemed
Presence Of PM Shri Narendra Modi And CM Shri Bhupendra Patel
● The Prime Minister, Shri Narendra Modi participated in the Golden Jubilee celebration of the Gujarat
Cooperative Milk Marketing Federation (GCMMF) at Narendra Modi Stadium in Motera, Ahmedabad.
● The Prime Minister took a walkthrough of the exhibition showcased on the occasion and also
unveiled the Golden Jubilee Coffee Table Book.
● The Indian dairy sector is growing by 6 percent per year as compared to the global average of 2
percent.
● The co-operative, which began operations in 1973-74, saw its revenues touch Rs 72,000 crore in
FY23.
● It has its sights set on becoming a Rs 1 trillion company by FY25-26, and currently exports to more
than 50 countries.
● At present, Amul (GCMMF) is the world's eighth-biggest dairy sector company. Currently, the
GCMMF has 18 member unions with more than 3.6 million farmers across 18,600 villages in
Gujarat.
INTERNATIONAL NEWS
India-Singapore committed to strengthening cooperation in the field of Personnel Management and
Public Administration
• India-Singapore committed themselves to strengthening cooperation in the field of Personnel
Management and Public Administration.
• The bilateral meeting discussed the contours of collaboration for 2024.
.
• The areas of collaboration envisage sharing of good governance practices, exchange of

information in the field of Personnel Management and Public Administration, cooperation
between the two countries on using technology in governance and timely convening of the Joint
Working Group meetings.
4th India and Portugal Foreign Office Consultations held in New Delhi
• The fourth Foreign Office Consultations between India and Portugal was held in New Delhi, with
a focus on political relations, deepening of trade and investment, cooperation in defence, science
and technology, and energy.
• External Affairs Ministry said both sides stressed on early implementation of the pilot project on
the Recruitment of Indian Citizens to work in the Portuguese Republic, as well as the holding of
the first India - Portugal Consular Dialogue.
• The two sides also exchanged views on global and regional issues including Gaza and Ukraine
and agreed to continue the existing close cooperation in multilateral fora, including at the UN
India and Oman review defence cooperation during the 12th Joint Military Cooperation Committee
meeting in Muscat
• Defence Secretary Giridhar Aramane co-chaired the 12th Joint Military Cooperation Committee
meeting with the Secretary-General, Ministry of Defence, Oman Dr. Mohammed Bin Naseer Bin
Ali Al Zaabi in Muscat.
• During the meeting, both sides reviewed and appreciated the robust defence cooperation
between India and Oman.
• The meeting delved into many new areas of cooperation in the fields of training, Joint exercise,
Information sharing, Oceanography, and Ship Building that would build mutual trust and
interoperability between militaries of both nations.
China overtook Japan as the world's biggest vehicle exporter 2023
• China's global dominance in electric cars helped it overtake Japan as the world's biggest vehicle
exporter last year, official data confirmed.
• Japanese giants such as Toyota and Nissan have been much more cautious than their Chinese
counterparts like BYD on electric vehicles (EVs), banking instead on hybrid models.
• Figures released by the Japan Automobile Manufacturers Association showed shipments of cars,
trucks and buses rising 16 percent to 4.42 million last year.
EU Leaders Agree to $54 Billion Ukraine Aid Package as Hungary’s Orban Backs Down
.
• All 27 EU leaders have agreed on a $54bn aid package for Ukraine after Hungary stopped
blocking the deal.
• Ukrainian President Volodymyr Zelensky welcomed the new funding, saying it would strengthen
the country's economic and financial stability.
• Ukraine's economic ministry stated it expects the first tranche in March.
• There had been fears Hungary's PM would again block the package as he did at a European
summit in December.
India, and Greece agree to soon firm up migration & mobility pact; boost anti-terror cooperation
● India and Greece will soon sign a mobility and migration partnership agreement to ease skilled
migration between the two countries and aim to double bilateral trade by 2030, stated Prime
Minister Narendra Modi.
● The Indian PM and his Greek counterpart, Kyriakos Mitsotakis, in their bilateral meeting in New
Delhi, discussed strengthening of cooperation in multiple areas, including defence, security,
education, start-ups, shipping, trade, investment, agriculture and tourism.
● Modi stated that the visit of the Greek PM to India after 16 years was a historic occasion.
● India-Greece bilateral trade in 2022-23 was about $2 billion, with India’s exports at $785.72
million and imports at $1.16 billion, per government data.
About Greece:
● Prime Minister: Kyriakos Mitsotakis
● Capital: Athens
Philippines Makes History as First Asian Nation to Ratify International Labour Organisation Convention
Addressing Workplace Violence and Harassment
● The Philippines has made history by becoming the first Asian country to ratify the Violence and
Harassment Convention 2019 (No. 190) announced by the International Labour Organisation
(ILO).
● Instrument of Ratification Deposited: The Philippines deposited the instrument of ratification with
ILO Deputy Director-General Celeste Drake, indicating its formal commitment to implementing
the provisions of Convention No. 190.
● Comprehensive Approach to Address Workplace Violence and Harassment: Convention No. 190
addresses workplace violence and harassment comprehensively, marking a significant step
towards ensuring safe and respectful work environments globally.
.
● First International Labour Standard: Convention No. 190 is the first international labor standard
specifically designed to address violence and harassment in the world of work comprehensively,
according to the ILO.
About International Labour Organisation :
● Headquarters : Geneva, Switzerland
● Director General : Gilbert Houngbo
● The ILO is a United Nations agency whose mandate is to advance social and economic justice
by setting international labour standards.
● It became the first specialised agency of the United Nations (UN) in the year 1946.
● The organization got the Nobel Peace Prize in 1969, for its efforts to improve peace amongst the
classes, and for promoting justice and fair work for the workers.
● The ILO is the only tripartite U.N. agency.
About Philippines :
● President : Bongbong Marcos
● Capital : Manila
● Currency : Philippine peso
Malta Joins International Solar Alliance as 119th Member Country
● Malta has become the 119th country to join the International Solar Alliance (ISA).
● Christopher Cutajar, Permanent Secretary of the Maltese Ministry of Foreign Affairs, signed the
ISA Framework Agreement.
Note :
● In December 2023, Romania became the 118th signatory country to join ISA.
● The platform seeks to develop and deploy cost-effective and transformative energy solutions
powered by the sun to help member countries develop low-carbon development trajectories.
● It has a special focus on making an impact in countries classified as Least Developed
Countries (LDCs) and Small Island Developing States (SIDS).
About ISA :
● Headquarters : Gurugram, Haryana
● Director-General : Ajay Mathur
● Member Countries : 97
● International Solar Alliance (ISA) was co-founded by India and France.
● India and France jointly launched the International Solar Alliance (ISA) on 30 November 2015
.
at COP21 in Paris, France.

● Its main objective is to reduce the use of conventional energy by using solar energy
efficiently.
About Malta :
● President : George Vella
● Prime Minister : Robert Abela
● Capital : Valletta
● Currency : Euro
Dubai Launches 5-Year Multiple Entry Visa for Indian Tourists to Boost Travel and Economic Relations
● In a bid to promote economic collaborations and encourage tourism and business ties, Dubai has
introduced a five-year multiple-entry visa for Indian tourists.
● The introduction of the multiple-entry visa aims to strengthen the relationship between Dubai and
India, making Dubai a more accessible and appealing destination for Indian nationals.
● According to the Dubai Department of Economy and Tourism (DET), the visa issued within 2 to 5
working days, allows a 90-day stay, extendable once for a similar period, with a total stay not
exceeding 180 days in a year.
● According to DET, Dubai experienced a surge in tourism from India, welcoming 2.46 million
overnight visitors in 2023.
● India, with a remarkable 34% year-on-year growth, maintains its position as the leading source
market for Dubai.
World Health Organization Unveils Global Initiative on Digital Health (GIDH)
● The World Health Organization (WHO) introduced the Global Initiative on Digital Health (GIDH),
aimed at fostering collaboration and sharing digital health knowledge and products among
countries.
● Priority Area During India's G20 Presidency: The initiative was identified as one of the three
priority areas during India's G20 presidency in 2023.
● Components of GIDH: The GIDH comprises four main components: country needs tracker,
country resource portal, transformation toolbox, and knowledge exchange.
● Objective of GIDH: The initiative aims to democratize digital health technologies, particularly
benefiting countries in the Global South, by facilitating knowledge sharing and collaboration.
● Launch Event: The Global Initiative on Digital Health (GIDH) was launched jointly by the WHO
and the Government of India during the G20 Health Ministerial Meeting held in Gandhinagar,
.
India, on August 19, 2023.

About WHO :
● Director General : Tedros Adhanom Ghebreyesus
NABARD Proposes Setting Up Meat and Egg Processing Units in Gujarat
● In the State Focus Paper for the financial year 2024-25, the National Bank for Agriculture and
Rural Development (NABARD) has recommended establishing meat and egg processing units in
Gujarat to produce value-added products like chicken samosa, patties, and momos.
● The focus paper was formally unveiled at Gandhinagar, Gujarat.
● Meat Production in Gujarat: The paper indicates that Gujarat's total meat production has
remained stagnant at 0.35 lakh kilograms for the last two years (2021-22 and 2022-23).
● Egg Production in Gujarat: Egg production in Gujarat witnessed a marginal decline of 3.6% in
2022-23.
About NABARD :
About Gujarat
● Capital: Gandhinagar
● Chief minister: Bhupendrabhai Patel
● Governor: Acharya Devvrat
● NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda
● Wildlife Sanctuary: Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary,
Gaga Wildlife Sanctuary
.
STATE NEWS
Government of Karnataka announces a digital detox initiative to bring in a responsible gaming
environment
• The Government of Karnataka, in collaboration with the All India Game Developers Forum
(AIGDF) will launch a digital detox initiative, with special emphasis on gaming and social media.
• Announcing this at the valedictory function of GAFX2024, Minister for Rural Development and
Panchayat Raj and ITBT, Priyank Kharge, informed.
• Through this initiative, both online and offline Digital Detox Centers will be set up across the state
of Karnataka offering personalised guidance where trained professionals will provide counselling
and support to individuals seeking to navigate their relationship with technology, stated an official
release.
About Karnataka :
• Governor: Thawar Chand Gehlot
• Chief minister: Siddaramaiah
• Capital: Bengaluru
• National Park : Bandipur NP, Kudremukh NP, Bannerghata NPRajiv Gandhi NP
• Wildlife Sanctuaries : B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird
Sanctuary, Bhadra Wildlife Sanctuary
• Tiger Reserve : Nagarhole Tiger Reserve, Bhadra Tiger Reserve
• Festival : Hampi, Mahamastakabhisheka (Shravanabelagola)
• Dance : Yakshagana, Dollu Kunitha Bolak-aat (Bolak Dance)
Khelo India concludes, Tamil Nadu announces new sports scheme ‘Kalaignar Sports Kit’
• Tamil Nadu Youth Welfare and Sports Development Minister Udhayanidhi Stalin announced that a
new scheme ‘Kalaignar Sports Kit’ will be introduced to foster sports talent at the village level.
• He was speaking at the valedictory function of Khelo India Youth Games 2023.
• The initiative, dedicated to commemorating the birth centenary of Kalaignar Karunanidhi, will
provide sporting kits to 12,000 village panchayats in the state.
About Tamil Nadu:
• Chief minister: M K Stalin
.
• National Park : Mudumalai National Park, Guidy National Park, Mukurthi National Park, Indira
Gandhi National Park.
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Vedanthangal Bird Sanctuary, Karikili Bird
Sanctuary, Anamalai Tiger Reserve
Uttarakhand Police Introduce Self-Balancing E-Scooters for Enhanced Smart Patrols
• Abhinav Kumar, Director General of Police, Uttarakhand, launched four cutting-edge self-balancing
electric scooters for patrol in Haridwar.
• Safety Measures: The initiative aims to enhance the safety of tourists and local citizens in
Haridwar, with police utilizing self-balancing scooters for patrols.
• Donation by Utkarsh Small Finance Bank: The eco-friendly electric scooters were donated by
Utkarsh Small Finance Bank for efficient and sustainable policing.
About Uttarakhand:
• Capital: Dehradun
• Chief Minister: Pushkar Singh Dhami
• Governor: Gurmit Singh
• National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji
Uttar Pradesh to Achieve Milestone as First Indian State with 21 Airports, Reflecting Rapid Aviation
Growth
• Uttar Pradesh is on the verge of becoming the first state in India to boast 21 airports, highlighting
the rapid development of the aviation sector within the state.
• Over the past 9 years, Uttar Pradesh has witnessed significant expansion in its aviation
infrastructure.
• From having only 6 airports in 2014, Uttar Pradesh's airport count has now reached 10, with the
recent inauguration of the Ayodhya airport.
About UP :
.

Sikkim Achieves Milestone as First Northeastern State to Revert to Old Pension System for
Government Employees
• Sikkim Chief Minister Prem Singh Tamang has announced the restoration of the Old Pension
System (OPS) for state government employees appointed on or after April 1, 2006.
• Sikkim becomes the first state in the Northeast region to implement the restoration of the Old
Pension System, marking a significant milestone.
• The announcement was made during the State Level Temporary Employees’ Convention held at
Public Ground Rangpo, ahead of the state assembly elections.
About Sikkim :
• Governor : Lakshman Acharya
• Chief Minister : Prem Singh Tamang
• Capital : Gangtok
• National Park : Khangchendzonga National Park (KNP)
• Wildlife Sanctuaries : Barsey Rhododendron Sanctuary, Fambonglho Wildlife Sanctuary
Telangana State Wildlife Board Approves Tadoba-Kawal Conservation Reserve

• The Telangana State Board for Wildlife has approved the establishment of the Tadoba-Kawal
conservation reserve.
• The Forest Department's proposal to declare the corridor area between Tadoba-Andhari Tiger
Reserve and Kawal Tiger Reserve as a conservation reserve has been approved by the
Telangana State Board for Wildlife.
• Now, the proposal will be sent to the Ministry of Environment, Forests and Climate Change.
About Telangana:
• Chief minister: K. Chandrashekar Rao
Uttarakhand Assembly passes UCC Bill; becomes India's 1st state to implement Uniform Civil Code
• The Uttarakhand state Assembly passed the Uniform Civil Code (UCC) Bill, marking it as the first
state in India post-independence to adopt a UCC.
.
• Committee and Report Submission : The report on the UCC was submitted to the Chief Minister by
Ranjana Desai, a retired judge of the Supreme Court and chairperson of the Committee.
About Uttarakhand :
• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• National Park : Corbett National Park, Rajaji national Park, Gangotri National Park, Nanda Devi
National Park
• Wildlife Sanctuary : Kedarnath Wildlife Sanctuary, Govind WildLife Sanctuary, Binsar WildLife
Sanctuary
Tamil Nadu Micro, Small, and Medium Enterprises Minister TM Anbarasan Launches 'Smart Card'
Initiative for Startups
• Tamil Nadu (TN) Micro, Small, and Medium Enterprises (MSME) Minister TM Anbarasan launched
the 'Smart Card' initiative for startups.
• Discounted Products and Services : The Smart Card offers a wide selection of products and
services at discounted rates, specifically tailored to meet the needs of startups in their early
stages.
• Categories of Products and Services : The products and services are broadly classified into 6
different categories: Legal & Compliance, Marketing/Business Consulting, Finance & Insurance,
HR & Smart Workspace, Software, and IT/ITES.
About Tamil Nadu :
Sanctuary
.
Chhattisgarh BJP Government to Introduce Mahatari Vandan Yojana, a Monthly Cash Assistance
Scheme - Mahatari Vandan Yojana for Married Women
• The Bharatiya Janata Party (BJP) government in Chhattisgarh will roll out the Mahatari Vandan
Yojana - a monthly cash assistance scheme for married women - from March 1.
• Aim : To eliminate discrimination against women and improve their health and nutrition levels,
while also promoting women empowerment and economic self-reliance.
• Benefit Amount: Eligible beneficiaries will receive ₹12,000 per year, transferred to their bank
accounts in monthly instalments of ₹1,000 under the scheme.
About Chhattisgarh :
• Governor : Biswabhusan Harichandan
• Chief Minister : Vishnu Deo Sai
• National Park : Indravati (Kutru) National Park, Kanger Valley National Park
• Wildlife Sanctuary : Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary
Bihar State Disaster Management Authority Introduces Device Named After CM to Alert Farmers and
Public on Various Natural Disasters
• Bihar State Disaster Management Authority has launched a device named after the Chief Minister
(CM) to alert farmers and common people about natural disasters like lightning, floods, heatwaves,
and cold waves.
• The initiative, termed "Novel Initiative Technological Intervention for Safety of Human Lives
(NITISH)," is a collaborative effort between the disaster management authority and the Indian
Institute of Technology (IIT), Patna.
• Description of Device: The NITISH device is pendant-shaped and provides voice message alerts
for lightning, floods, heatwaves, and cold waves. It is synchronized with the Bihar meteorological
service center.
About Bihar :
• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna
Maharashtra Government to Launch 'Chief Minister Vayoshree Yojana'
• The Maharashtra Government has decided to introduce the 'Mukhyamantri Vayoshri Yojana' aimed
at benefiting around 15 lakh senior citizens with physical or mental disabilities.
.
• Eligibility and Benefits: Citizens above 65 years of age suffering from disabilities will be screened,
and eligible individuals will receive Rs 3,000 under the scheme.
• Implementation and Cost: The scheme, costing approximately Rs 480 crore, will be implemented
across all districts of Maharashtra.
About Maharashtra
• Governor: Ramesh Bais
• Capital: Mumbai
Sanctuary
Assam Designates 'Kaji Nemu' Lemon as Official 'State Fruit' to Promote Local Agriculture
● The Assam government declared ‘Kaji Nemu’ (Citrus Lemon) as the state fruit.
● “The 'Kaji Nemu' has been approved as the state fruit of Assam during the Cabinet meeting
underscoring the fruit’s cultural, traditional, and nutritional significance to the state and its people.
● Kaji Nemu has a Geographical Indication (GI) label and is well-known for its distinct scent and
medicinal properties.
What is Geographical Indication?
● Geographical indication (GI) is a sign used on products that have a specific geographical origin
and possess qualities or a reputation that is due to that origin, as explained by the World
Intellectual Property Organization (WIPO).
About Assam :
● Governor : Gulab Chand Kataria
● Chief Minister : Himanta Biswa Sarma
● Capital: Guwahati
● National Park: Kaziranga National Park, Manas National Park, Nameri National Park
● Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary
Assam Cabinet Passes Assam Healing (Prevention of Evil) Practices Bill, 2024
.
● The Assam Healing (Prevention of Evil) Practices Bill, 2024, has been passed by the Assam
cabinet.
● It has banned magical healing practices in the name of treatment.
● The bill prohibits the use of magical healing practices under the guise of medical treatment.
● This includes treatments for conditions such as deafness, dumbness, blindness, physical
deformities, and autism.
Arunachal Pradesh Attains 100% Saturation in 'Har Ghar Jal' Scheme, Emerges as 1st State in
Northeast India under Jal Jeevan Mission
● Arunachal Pradesh has achieved 100% saturation in 'Har Ghar Jal' scheme under the Centre's
Jal Jeevan Mission (JJM).
● Arunachal Pradesh has become the first in the northeast and 10th in the country to achieve a
cent per cent saturation under the central government sponsored scheme.
● The Central government allocated Rs 396,541.22 lakh, and the State government contributed Rs
45,551.18 lakh to ensure clean and safe piped water to every household in Arunachal Pradesh.
About JJM :
● Prime Minister Shri Narendra Modi had announced the ‘Jal Jeevan Mission - Har Ghar Jal’ on
15th August, 2019.
● The mission aims at improving the ‘quality of life’ and enhanced ‘ease of living’ in rural areas by
making a provision of assured tap water supply to every rural household in the country by 2024.
About Arunachal Pradesh :
● Governor : Kaiwalya Trivikram Parnaik
● Chief Minister : Pema Khandu
● Capital : Itanagar
● National Park : Mouling National Park, Namdapha National Park
● Wildlife Sanctuaries : Dibang Wildlife Sanctuary, Sessa Orchid Wildlife Sanctuary
Haryana Chief Minister Khattar Initiates 'Van Mitra' Scheme to Promote Engagement in Tree Planting
● Haryana Chief Minister Shri Manohar Lal Khattar launched the ‘Van Mitra’ scheme and its portal
to encourage community participation in tree planting activities in non-forest areas.
● Objective : To directly involve the local public in increasing forest areas across the state,
ensuring an increase in the survival rate of afforestation, and promoting tree planting in non-
forest areas.
Eligibility Criteria :
.
● Individuals from families with an annual income below Rs 1.80 lakh are eligible to register as 'Van
Mitras'.
● Each Van Mitra can plant a maximum of 1,000 saplings and will receive incentives based on the
maintenance of the planted trees.
● Any individual aged between 18 and 60 years can enroll as a Van Mitra.
About Haryana :
● Governor : Bandaru Dattatreya
● Chief Minister : Manohar Lal Khattar
● Capital : Chandigarh
● National Park : Kalesar National Park, Sultanpur National Park
● Wildlife Sanctuary : Chhilchhila Wildlife Sanctuary, Bir Shikargah Wildlife Sanctuary, Nahar
Wildlife Sanctuary
Odisha Government Introduces 'Swayam' Scheme, Offering Interest-Free Loans to Youth
● Odisha Agriculture Minister Shri Ranendra Pratap Swain announced the implementation of the
'Swayam' scheme during a recent cabinet meeting.
● Aim of the Scheme : To promote self-employment among youth in Odisha by offering interest-
free loans of up to Rs 1 lakh to eligible individuals in both rural and urban areas.
● Beneficiaries : The scheme targets 1 lakh eligible rural and urban youth aged between 18-35
years.
● Loan Conditions : Rural unemployed youth aged 18-35 years, without outstanding loans for the
same purpose from any central or state government-supported schemes, are eligible for interest-
free bank loans of up to Rs 1 lakh.
● A special category of individuals aged 18-40 years also qualifies for the scheme.
● The state cabinet also approved the umbrella scheme Mukhyamantri Maschyajibi Kalyan Yojana
(MMKY), which will be implemented during the 2023-24 fiscal year.
About Odisha :
● Governor : Ganeshi Lal
● Chief Minister : Naveen Patnaik
● Capital : Bhubaneswar
Burhanpur, Central India's 'Banana City,' Prepares for Annual Banana Festival
● The banana city of central India, Burhanpur in Madhya Pradesh (MP), is all set to organise its
.
annual Banana Festival.

● The two-day Banana festival is being organised in collaboration with district administration and its
various departments under the one-district one-product programme (ODOP).
● The festival is serving as a platform to showcase Burhanpur's agricultural prowess, inviting
companies, experts, and scientists from across the nation to explore investment opportunities in
the region.
About MP :
● Governor: Mangubhai C. Patel
● Chief Minister: Mohan Yadav
● Capital: Bhopal
● National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park
● Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary
Karnataka to Integrate Multiple Agricultural Schemes into New Initiative to Enhance Sustainability and
Profitability for Farmers
● Karnataka plans to consolidate various agri schemes to launch a new one to help farmers make
agriculture sustainable and lucrative.
● Various schemes related to the agricultural sector will be consolidated and a new scheme called
Karnataka Raitha Samruddhi Yojane will be started this year.
● An Agriculture Development Authority will be created under the chairmanship of Chief Minister to
facilitate effective implementation of policies related to agriculture and allied activities.
● The Authority will also work towards achieving better coordination between the Department of
Agriculture, Horticulture, Sericulture, Fisheries, Cooperation, and Animal Husbandry.
● Due to the prevailing drought in the State, the agriculture sector has been impacted and has
shown a negative growth of 1.8 per cent in the current year.
● Water Bodies Creation : About 5,000 water bodies will be created over five years to promote
sustainable agriculture in drought-affected and rainfed areas of the State.
● Revival of Krishi Bhagya Yojane : Krishi Bhagya Yojane which had become extremely popular
during the earlier tenure of our Government has been reintroduced and grants of ₹200 crore
were provided during 2023-24.
● Food Processing Directorate : A separate Food Processing Directorate will be constituted under
the Agriculture Department which will focus on avoiding wastage of agricultural produce and help
farmers in earning a reasonable price for their crops.
.
● Food Parks Establishment : Further, to promote processing, value addition and export of
agricultural and horticultural produce, food parks will be established near airports under public-
private partnership.
● In the current year, food parks will be established at Sogane in Shivamogga district, Ittangihala in
Vijayapura District and Pujenahalli village in Bengaluru rural district.
● Commercial Floriculture Market : Also to promote sales and exports of floriculture crops, a well-
equipped commercial floriculture market of international standards will be set up in Bengaluru city
under PPP mode.
About Karnataka :
● Governor : Thawar Chand Gehlot
● Chief Minister : Siddaramaiah
● Capital : Bangalore
Union Education Minister inaugurates 211 PM SHRI schools in Chhattisgarh
● Union Minister of Education and Skill Development & Entrepreneurship, Dharmendra Pradhan,
along with Chief Minister of Chhattisgarh, Vishnu Deo Sai, inaugurated 211 PM SHRI schools in
Raipur.
About PM SHRI:
● The PM SHRI School is a centrally sponsored scheme initiated by the Government of India.
● The Cabinet has approved a newly central sponsored scheme called PM SHRI on 7 September,
2022.
● Its objective is to establish over 14,500 PM SHRI Schools, overseen by the Central Government,
State/UT Governments, local bodies, as well as Kendriya Vidyalaya Sangathan
(KVS) and Navodaya Vidyalaya Samiti (NVS).
About Chhattisgarh:
● Governor: Biswabhusan Harichandan
● Chief Minister: Vishnu Deo Sai
● Capital: Raipur
● National Park: Indravati National Park, Kanger valley, Guru Ghasi das (sanjay) National Park
● Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary,
Badalkholsanctuary, Bhairamgarh Wildlife Sanctuary, Bhoramdeo Wildlife Sanctuary, Gomarda
Wildlife Sanctuary, The Pamed Wildlife Sanctuary,Sitanadi Wildlife Sanctuary, TamorPingla
Wildlife Sanctuary
.
Medaram Jatara, India's Largest Tribal Festival Begins In Telangana

● Sammakka Saralamma Jathara, also known as Medaram Jathara, is a tribal festival dedicated to
honouring the goddesses celebrated in the southern state of Telangana.
● Telangana Minister for Panchayat Raj & Rural Development (including Rural Water Supply),
Women & Child Welfare, Dansari Anasuya Seethakka, inaugurated the tribal dance
performances in Medaram village.
● “Samakka Saralamma Jatara” is expected to witness a record turnout of around 15 million tribals
from across the country including Karnataka, Andhra Pradesh, Chhattisgarh, Jharkhand, Madhya
Pradesh, Maharashtra, Bihar and West Bengal.
About Telangana:
● Governor: Tamilisai Soundararajan
● Chief Minister: Revanth Reddy
● Capital: Hyderabad
● National Park: Kasu Brahmananda Reddy National Park, Mahavir Harina Vanasthali National
Park, Mrugavani National Park
● Wildlife Sanctuaries: Kinnerasani Wildlife Sanctuary, Eturnagaram Wildlife Sanctuary, Kawal
Tiger Reserve, Manjira wildlife sanctuary, Pocharam Wildlife Sanctuary, Pranahita wildlife
sanctuary
Banking Business in Uttar Pradesh increased to Rs 27 Lakh Crore
● During a recent meeting of the State Level Bankers Committee, Chief Minister Yogi Adityanath
urged banks to not hesitate in providing loans to those in need.
● The government will offer training to beneficiaries of its schemes and ensure that banks receive
all necessary security and assistance.
● Adityanath expressed satisfaction with the credit deposit ratio (CD ratio) of banks in the state,
which currently stands at 58.59%.
● However, he set a target of increasing it to 65% in the next financial year.
● The Chief Minister highlighted the growth of the banking sector in the state, with banking
business worth Rs 12.80 lakh crore in 2016-17, which has now risen to Rs 26.80 lakh crore.
● The Chief Minister highlighted the growth and strength of the banking sector in Uttar Pradesh,
citing that in 2016-17, banks provided loans amounting to Rs 1.37 lakh crore in the state.
● This figure increased to over Rs 3 lakh crore in 2022-23, and by December 2023, banks had
already given loans amounting to Rs 2.98 lakh crore.
.

● Governor: Anandiben Patel
● Chief Minister: Yogi Adityanath
● Capital: Lucknow
● National Park: Dudhwa National Park (Lakhimpur-Kheri District)
Madhya Pradesh Launches 'Bagless School' Initiative to Alleviate Student Stress
● The Madhya Pradesh (MP) government has announced 'bag less school' day once a week for
students in classes 1 to 12, starting from the upcoming academic session in 2024-25.
● This decision applies to all government and private schools operating in the state.
● The state government, aiming to alleviate the burden on students, has issued a notice outlining
the maximum permissible weight of school bags for different classes.
Uttarakhand Chief Minister Pushkar Singh Dhami Unveils 'Himalayan Basket' Initiative
● Uttarakhand Chief Minister (CM) Shri Pushkar Singh Dhami inaugurated the 'Himalayan Basket'
initiative, introduced by local entrepreneurs Sumit and Sneha Thapliyal.
● Objective: The initiative, initiated in 2018, aims to enhance local employment opportunities by
utilizing the abundant agricultural resources of the region.
● Focus Areas: The project concentrates on procuring milk, turmeric, and mint from local farmers to
manufacture and export high-demand products such as 'Churpi' (a hard cheese) and ghee.
About Uttarakhand :
● Governor : Gurmit Singh
● Chief Minister : Pushkar Singh Dham
Haryana Chief Minister Manohar Lal Khattar Initiates 'Savera' Initiative for Early Detection of Rising
Breast Cancer Cases in Women
● Haryana Chief Minister Shri Manohar Lal, inaugurated the 'Savera' program initiated by the
Medanta Foundation in collaboration with the Health Department in Gurugram, aimed at early
detection and prevention of breast cancer, a growing concern among women.
● This groundbreaking initiative marks the first of its kind in the country, focusing on detecting
breast cancer in its early stages among women.
● In its initial phase, the program will be launched at the Civil Hospital in Sector-10 of Gurugram,
the Polyclinic in Sector-31, and the Primary Health Center in Wazirabad.
About Haryana :
● Governor : Bandaru Dattatreya
.
● Chief Minister : Manohar Lal Khattar

● National Park : Kalesar National Park
● Wildlife Sanctuary : Bhindawas Wildlife & Bird Sanctuary, Chhilchhila Wildlife Sanctuary
BUSINESS NEWS
Index of Eight Core Industries increases by 3.8 per cent (provisional) in Dec 2023 as compared to Dec
2022
• The combined Index of Eight Core Industries (ICI) increased by 3.8 per cent (provisional) in
December 2023 as compared to the Index of December 2022.
• The production of Coal, Natural Gas, Steel, Fertilizers, Refinery Products, Cement and Electricity
recorded positive growth in December 2023.
• The details of annual and monthly indices and growth rates are provided in Annex I and Annex II
respectively.
• The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of
Industrial Production (IIP).
• The final growth rate of Index of Eight Core Industries for September 2023 is revised to 9.4 cent.
Fiscal deficit in 2024-25 is estimated to be 5.1 percent of GDP
• Fiscal deficit in 2024-25 is estimated to be 5.1 percent of GDP.
• This is in adherence to the path of fiscal consolidation to reduce the fiscal deficit below 4.5
percent by 2025-26.
• States will be encouraged to take up comprehensive development of iconic tourist centres,
branding and marketing them at a global scale.
• ‘Direct Benefit Transfer’ of 34 lakh crore rupees into PM-Jan Dhan accounts has led to the
savings of 2.7 lakh crore rupees for the Government.
• The PM-SVANidhi scheme has provided credit assistance to 78 lakh street vendors.
Indian sugar mills body second estimate pegs output at 33 million tonnes, down 10%
• India’s sugar production (including the quantity diverted for ethanol) is estimated to decline 10 per
cent to 33.05 million tonnes (mt) in the current season that began from October 1, 2023 from 36.62
mt in the previous season.
• It is mainly due to a likely drop in output in Maharashtra and Karnataka, according to industry body
Indian Sugar Mills’ Association (ISMA).
.
• Releasing the second advance estimates of sugar production for the 2023-24 season, ISMA said
the gross production in Maharashtra is estimated to fall to 9.99 mt from 11.85 mt and in Karnataka
to 4.97 mt from 6.58 mt.
• However, mills in Uttar Pradesh are likely to produce 11.99 mt (11.89 mt).
Haldia Petrochemicals Ltd. becomes BSI Certified 1st ISO 27001:2022 Petrochemical Company in India
• Haldia Petrochemicals Ltd (HPL), a leading petrochemicals company in India, announced its
achievement of becoming the first ISO 27001:2022 certified petrochemical organisation in the
industry by BSI (British Standards Institution), a renowned certification body.
• This milestone showcases HPL's commitment to maintaining a robust and secure information
security governance structure throughout its digital transformation journey.
• ISO 27001:2022 is the standard of the ISMS (Information Security Management System) program
to protect the information asset of the organization.
• British Standards Institution (BSI) is the world's first Standards Body and founding member of ISO
from the United Kingdom.
The Coal Ministry has achieved a production of 99.73 million tonnes in January 2024.
• The Ministry of Coal has achieved a significant upswing in overall coal production during January
2024, reaching 99.73 Million tonnes (MT).
• This surpasses the figures of 90.42 MT of the corresponding month during the previous year,
representing an increase of 10.30 %.
• The production of Coal India Limited (CIL) has risen to 78.41 MT in January 2024 marking a
growth of 9.09 % as compared to 71.88 MT in January 2023.
In December 2023, the coal sector grew by 10.6% among eight core industries, which was impressive.
• The coal sector has showcased highest growth of 10.6 % (provisional) among the eight core
industries for December 2023 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12)
released by the Ministry of Commerce & Industries.
• The index of the coal industry has reached 204.0 points during Dec’23 as compared to 184.4
points during the same period of last year and its cumulative index has increased by 12.5% during
April to December, 2023-24 over the corresponding period of previous year.
HPCL’s Rs 73,000-crore Rajasthan refinery likely to start operations by January 2025
.
• Public sector refiner and fuel retailer Hindustan Petroleum Corporation (HPCL) plans to start
commercial production of fuels at India’s newest refinery in Rajasthan’s Barmer city by January
2025.
• The refinery-cum-petrochemicals complex, being built at a cost of nearly Rs 73,000 crore, will
have a crude processing capacity of 9 million tonnes per annum (mtpa) and is expected to cater to
the rapidly rising fuel demand in the northern parts of India.
• The refinery has achieved 76 per cent mechanical completion and the first refined products are
likely to start flowing from the facility by December 2024 or January 2025.
Tata Group becomes first Indian conglomerate to cross Rs 30 lakh cr market cap
• Tata Group achieved a historic milestone as its combined market capitalization surpassed Rs 30
lakh crore on February 6, making it the first Indian business house to reach this valuation.
• The overall valuation of Tata Group now stands at Rs 30.6 lakh crore, making it the most valued
conglomerate in the country, surpassing Reliance Group and Adani Group in market cap rankings.
EPFO fixes 3-year high 8.25% interest rate on employees' provident fund for 2023-24:
• The interest rate on Employees Provident Fund (EPF) deposits has been increased to 8.25% for
2023-24 by the retirement fund body EPFO, which is the highest level in three years.
• On 10 February, the decision was taken during a meeting of the EPFO's apex decision-making
body, the Central Board of Trustees (CBT).
• EPFO in March 2023 marginally increased the interest rate on EPF to 8.15% for the financial year
2022-23 from 8.10% in 2021-22.
About EPFO
• EPFO is a statutory body that was established under the Employees’ Provident Fund and
Miscellaneous Provisions Act, 1952.
• The organization works under the aegis of the Ministry of Labour and Employment.
• It is one of the world’s largest social security organizations.
• It helps the central board of trustees in the administration of the Provident Fund Scheme, Pension
Scheme and Insurance scheme for the organized sector workers.
India's wholesale prices index numbers for January 2024:

● The annual rate of inflation based on the All India Wholesale Price Index (WPI) number is0.27%
(Provisional) for January 2024(over January, 2023).
● The Positive rate of inflation in January 2024 is primarily due to an increase in prices of food
.
articles, machinery & equipment, other manufacturing, minerals, other transport equipment etc.
● The month-over-month change in the WPI index for the month of January, 2024 stood at -0.33 %
as compared to December, 2023.
National Coal Index Shows Decline of 4.75% in December, 2023
● The National Coal Index (Provisional) has shown a significant decline of 4.75 % in December 2023
at 155.44 points compared to December 2022, where it was at 163.19 points.
● This notable decrease indicates sufficient availability of coal in the market to meet the growing
demands.
● The National Coal Index (NCI) is a price index that combines coal prices from all sales channels, viz.
Notified Prices, Auction Prices, and Import Prices.
India's goods exports increased 3.12% in January 2024 to USD 36.92 billion from USD 35.80 billion in
January 2023.
● India’s overall exports (Merchandise and Services combined) in January 2024* are estimated to be
USD 69.72 Billion, exhibiting a positive growth of 9.28 per cent over January 2023.
● Overall imports in January 2024* are estimated to be USD 70.46 Billion, exhibiting a positive growth
of 4.15 per cent over January 2023.
● India’s overall exports (Merchandise and Services combined) in April-January 2023-24* are
estimated to be USD 638.37 Billion, exhibiting a negative growth of (-) 0.19 per cent over April-
January 2022-23.
The Expert Committee on the Implementation of Indian Accounting Standards has been reconstituted,
as announced by IRDAI.
● The Insurance Regulatory and Development Authority of India (IRDAI) announced the reconstitution
of the Expert Committee on the implementation of the Indian Accounting Standards.
● The 13-member committee, which will be headed by the Member (Finance and Investment) F&I of
IRDAI, will also include the Chairman of the Accounting Standards Board of ICAI, the President of
the Institute of Actuaries of India, the CGM & HOD of IRDAI’s Actuarial Department, among others.
● The committee will also address the requirements of guidance notes, APS, and Education Material
from respective professional institutes.
APEDA boosts agricultural exports from USD 0.6 billion in FY1987-88 to USD 26.7 billion in FY 2022–
23.
● The Agricultural and Processed Food Products Export Development Authority (APEDA) has
propelled India's agricultural exports from 0.6 billion US dollars in fiscal year 1987-88 to 26.7 billion
.
US dollars in the fiscal year 2022-23.

● With APEDA's interventions, India's agricultural export growth has surged, showcasing the
Compound Annual Growth Rate (CAGR) of 12 percent.
● Top markets for Basmati rice include Iran, Iraq, Saudi Arabia, the USA, and the UAE, reaffirming its
enduring global demand.
About APEDA
● The Agricultural and Processed Food Products Export Development Authority is an Indian Apex-
Export Trade Promotion Active government body. APEDA is the premier body of the export
promotion of fresh vegetables and fruits.
● Founded: 13 February 1986
● Headquarters: New Delhi
Tesla will start making new EV model in the second half of 2025
● Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas
factory in the second half of 2025.
● The project has been codenamed ‘Redwood’ and will enter production in the second half of 2025.
● The models, codenamed project ‘Redwood,’ will include an entry-level $25,000 car, allowing Tesla to
compete with cheaper gasoline-powered cars and a growing number of inexpensive EVs, such as
those made by China's BYD, which recently surpassed the former as the world's largest EV
manufacturer.
India’s exports rise 3.12% in Jan despite Red Sea crisis, global slowdown
● Despite the global slowdown and the Red Sea situation, exports have increased. India's goods
exports have increased to $36.92 billion, a 3.12% year-over-year increase.
● Several industries, including electronics, medicines, and engineering items, have supported the
export of goods.
● In January 2024, imports increased by 2.99 percent to $54.41 billion.
● The January 2024 trade deficit of $17.49 billion was greater than the January 2023 deficit of $17.03
billion.
● The ministry also informed that India's share in global exports has increased to 10.35 per cent (USD
261.09 billion) in 2022 from 8 per cent (USD 194.96 billion) in 2014.
● During the April-January 2023-24 period, India’s top export destinations were Australia, Singapore,
United Kingdom, China, UAE, Netherlands, and Saudi Arabia.
● Among the import destinations, Russia stood at the top with a 44.76% share in India’s import basket,
.
followed by Switzerland, China, Korea, Singapore, UAE, etc.

India emerges as the top buyer of Venezuelan crude oil in December 2023, January 2024
● After a gap of over three years, India emerged as the top buyer of Venezuelan crude for two
consecutive months of December 2023 and January 2024, as per shipping fixtures and ship tracking
data.
● Indian refiners stopped oil imports from the Latin American country in 2020 after the United States
(US) imposed sanctions on Caracas.
● Crude oil dispatches from Venezuela to India in December were almost 191,600 barrels per day
(bpd), while in January, the loadings rose to over 254,000 bpd — nearly half of the Latin American
nation’s total oil exports of almost 557,000 bpd for the month.
● India — specifically private sector refiners RIL and Nayara Energy (NEL) — was a regular buyer of
Venezuelan crude prior to the imposition of US sanctions in 2019.
Rs 1 lakh limit per individual for withdrawal of old tax demands

● The government has begun getting rid of old outstanding small income tax demands after setting a
ceiling of Rs 1 lakh per taxpayer.
● Taxpayers can check the status of the demands by logging on to the income tax portal online.
● The scheme will be implemented by the Bengaluru-based Directorate of Income Tax (Systems) at
the Centralised Processing Centre (CPC), preferably within two months.
● It will be limited to Rs 1,00,000 per assessee.
BSNL floats Rs 65,000-crore phase-3 tender for BharatNet
● BSNL, the state-owned telecommunications company, has initiated a tender process amounting to
approximately Rs 65,000 crore for the implementation of the phase-III BharatNet project.
● This endeavour is part of the broader Rs 1.4 trillion revamped BharatNet project, aimed at enhancing
connectivity in rural areas by both upgrading existing infrastructure and connecting additional gram
panchayats.
● BSNL is the sole project management agency for the BharatNet project.
● This initiative seeks to upgrade existing 164,000 gram panchayats and connect approximately
47,000 new gram panchayats under a new model.
● The BharatNet phase-III project adopts a three-level architecture: internet leased line bandwidth,
middle-mile connectivity, and last-mile connectivity.
● It aims to involve village-level entrepreneurs or Udyamis in providing last-mile connectivity to
.
households on a revenue-sharing basis.

● The Union Cabinet approved the third package of Rs 1.39 trillion for BharatNet in August, totalling
the allocation to over Rs 2 trillion.
● Previous allocations were made in 2017 and 2021.
Air India Ltd & Tata Advanced Systems Limited to invest Rs 2,300 crore in Karnataka
● Tata Group companies Air India and Tata Advanced Systems Limited (TASL) plan to invest Rs
2,300 crore in Karnataka in multiple projects which will employ about 1,650 people.
● Air India plans to establish an airframe Maintenance, Repair and Overhaul (MRO) facility at
Bengaluru International Airport with an investment plan of Rs 1,300 Crore which is likely to employ
1,200 people.
● This will be the first-of-its-kind facility in India and will open doors for a full-scale MRO.
● TASL is planning to set up three projects with a total investment of Rs 1,030 crore -- Passenger to
Freighter Aircraft Conversion facility (Rs 420 crore), a gun manufacturing facility (Rs 310 crore) and
Aerospace and Defence Research and Development in Karnataka (Rs 300 crore).
As of December 2023, the nation's mineral production has increased by 5.1%.
● Mineral Production in the Country has grown by 5.1 percent in December 2023 as compared to the
level in December 2022.
● As per the Ministry of Mines, the cumulative growth of Mineral Production from April to December,
2023-24 is 8.5 per cent higher than the corresponding period of last year.
● Minerals that have projected positive growth during December, 2023 include Magnesite, Lignite,
Limestone, Coal, Natural Gas, Zinc, Manganese, Lead, Copper and Bauxite.
Indraprastha Gas to set up 19 CBG plants in multi-states
● Indraprastha Gas Ltd (IGL) plans to set up 19 plants to produce compressed biogas (CBG) that
would feed into its city gas distribution network.
● IGL signed preliminary agreements with two technology partners for setting up compressed
biogas plants in Delhi, Haryana, Rajasthan, and Uttar Pradesh.
● This partnership aims to produce 0.45 million metric standard cubic meters per day of biogas
from waste, equivalent to approximately 5% of IGL's daily gas requirements.
India’s Oilfield Capex to Shrink by One-Fifth by 2030: IEA
● India's annual capital spending on developing oil fields will fall next year, shrinking by about a
fifth by 2030 in the absence of major discoveries, which will lead to a drop in domestic oil
production and expand dependence on imports, according to the International Energy Agency
.
(IEA).
● Capital expenditure on developing oil projects is estimated to drop below $3.5 billion in 2030 from
around $4.3 billion in 2024.
BANKING AND ECONOMY

RBI 'ban' on Paytm Payments Bank
• The Reserve Bank of India has instructed Paytm Payments Bank Ltd. (PPBL or the bank) to cease
onboarding new clients immediately, in accordance with its authority under section 35A of the
Banking Regulation Act, 1949.
• After February 29, 2024, no more deposits, credit transactions, top-ups, or withdrawals will be
permitted in any customer accounts, prepaid cards, wallets, FASTags, NCMC cards, etc,, as per
the RBI circular post from August 2023.
• The RBI has ordered the payments bank subsidiary of Paytm to halt the acceptance of fresh
deposits in its accounts and popular wallets from March onwards.
State Bank of India Reports 35% Decline in Q3 Net Profit Due to Pension Provision
• State Bank of India (SBI) reported a drop in net profit for the first time in 12 quarters, with its third
quarter (Q3FY24) standalone net profit declining 35.5 percent year-on-year (yoy) to ₹9,164 crore
as it absorbed one-time provisions relating to increase in pension liabilities and dearness relief
neutralisation.
• India’s largest bank had reported a net profit of ₹14,205 crore.
• Reasons for Profit Decline: The decline in profit was attributed to absorbing one-time provisions,
including ₹5,400 crore for correcting anomalies in pension liabilities dating back to 2002 and
₹1,700 crore for dearness relief neutralization for pre-2002 retirees.
About SBI :
• CFO : Kameshwar Rao Kodavanti
RBI Issues Directive for Overhauling Internal Compliance Monitoring
• The Reserve Bank of India (RBI) issued a crucial directive (RBI/2023-24/117) on January 31, 2024
with an aim to bring about a significant transformation in the internal compliance monitoring
function across various financial institutions.
.
• Automation Necessity : The RBI observed the varying degrees of automation in Supervised
Entities (SEs) and highlighted the necessity for comprehensive and integrated technological
solutions to enhance the efficiency of compliance monitoring.
About RBI :
Reserve Bank of India Imposes Rs 5 Lakh Penalty on Bajaj Housing Finance for Breaching Regulations
• The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 lakh on Bajaj Housing Finance for
non-compliance with certain regulatory provisions.
• Regulatory Provisions: The penalty was levied due to the company's contravention of specific
provisions outlined in the 'Non-Banking Financial Company - Housing Finance Company (Reserve
Bank) Directions, 2021'.
RBI Reports 97.50% Return of ₹2,000 Banknotes in Circulation by January 31, 2024
• The Reserve Bank of India (RBI) announced that 97.50% of the ₹2,000 banknotes in circulation as
of May 19, 2023, have been returned as of January 31, 2024.
• The total value of ₹2,000 banknotes in circulation, which was ₹3.56 lakh crore at the close of
business on May 19, 2023, when the withdrawal of ₹2,000 banknotes was announced, has
declined to ₹8,897 crore at the close of business on January 31, 2024.
National Bank for Agriculture and Rural Development Forecasts 16% Increase in West Bengal's Priority
Sector Lending Potential to ₹3.15 Lakh Crore for FY25
• The National Bank for Agriculture and Rural Development (NABARD) projected a robust double-
digit growth in priority sector lending potential of ₹3.15 lakh crore in West Bengal for 2024-25.
• NABARD's Chief General Manager Usha Ramesh unveiled the West Bengal state focus paper
alongside bankers, State Chief Secretary B P Gopalika, and other officials.
• The paper projects a priority sector lending potential of ₹3.15 lakh crore in West Bengal in 2024-
25, marking a 16 per cent increase from the previous fiscal year's figure of ₹2.70 lakh crore.
About NABARD :
• Chairman : Shri. Shaji K V
.
• It was established on the recommendations of the B. Sivaraman Committee (by Act 61, 1981 of
• NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
• It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
Government Pegs FY'25 Disinvestment Target At Rs 50,000 Crore

• The government pegged the disinvestment target for 2024-25 fiscal at Rs 50,000 crore in the
interim budget for 2024-25, up from Rs 30,000 crore in the revised estimate for the current
financial year.
• During the current fiscal (2023-24), the revised estimates of disinvestment mop-up has been
pegged at Rs 30,000 crore, lower than Rs 51,000 crore budgeted at the time of the presentation of
the Budget last year.
• As per the Interim Budget 2024-25 document tabled in the Lok Sabha, the government is not
expected to receive any money from the monetisation of public assets in the current fiscal.
Pension Fund Regulatory and Development Authority Invites Bids for PFRDA-TRACE RFP in
Technology Architecture Project
• The Pension Fund Regulatory and Development Authority (PFRDA) has initiated a tendering
process, inviting bids from prospective bidders to participate in the PFRDA-TRACE RFP as part
of the Technology Architecture (TARCH) project.
• Purpose of PFRDA-TRACE: PFRDA-TRACE will function as a comprehensive tool facilitating
various functions including submitting regulatory and supervisory compliance reports by
intermediaries, sharing reports and data with PFRDA, and monitoring functions.
About PFRDA :
• Chairman : Deepak Mohanty
• PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
• It operates under the jurisdiction of the Ministry of Finance in the Government of India.
RBI's digital payments index jumps to 418.77 in September from 395.57 in March
.
• Digital payments across the country registered a growth of 10.94 per cent in a year through March
2023, as per RBI's index that measures the adoption of online transactions.
• The Reserve Bank of India’s (RBI) Digital Payments Index, a measure of the extent of digitisation
of payments across the country, increased to 418.77 in September 2023 from 395.57 in March
2023.
• The RBI-DPI has been constructed with March 2018 as the base period, that is, the DPI score for
March 2018 is set at 100.
AU Small Finance Bank names former RBI Deputy Guv HR Khan as part-time chairman
• AU Small Finance Bank (SFB) has announced the appointment of Reserve Bank of India's
former Deputy Governor Harun Rasid Khan as part-time chairman.
• Raj Vikash Verma has completed his tenure on 29 January, 2024 and will cease to be a part-time
chairman and independent director of the bank with immediate effect.
• Harun Rasid Khan, Independent Director (Non-Executive) shall assume the position of Part-Time
Chairman of the Bank w.e.f. January 30, 2024 till completion of his 1st tenure as Independent
Director of the Bank i.e. December 27, 2024.
RBI-backed TReDS logs quick growth after slow takeoff

• Reserve Bank of India-backed invoice discounting platform TReDS (Trade Receivables
Electronic Discounting System) has reported a jump in invoices financed by lenders in 2023.
• The electronic platform facilitates easy access to credit for small businesses that are vendors to
large corporations.
• TReDS was launched by the RBI in 2018.
• While it was slow to scale initially, traction has started picking up, with banks and non-banking
lenders participating in the ecosystem.
Bank of Baroda Limited Appoints Shri Sanjay Vinayak Mudaliar, as Executive Director
• The Appointments Committee of the Cabinet (ACC) has approved the Department of Financial
Services (DFS) proposal to post Sanjay Vinayak Mudaliar as Executive Director at Bank of
Baroda.
• Mudaliar is currently the Executive Director at Indian Overseas Bank.
.
• Mudaliar will serve his new post from the day he assumes charge for the remainder of his term,
i.e. up to December 31, 2025, or until further orders, whichever is earlier.
RBI to make available an additional ₹5,000 cr to Standalone Primary Dealers under Standing Liquidity
Facility
• In view of the liquidity deficit in the banking system, the Reserve Bank of India (RBI) has decided
to make available an additional aggregate amount of ₹5,000 crore to Standalone Primary
Dealers (SPDs) under the Standing Liquidity Facility at the prevailing repo rate starting from
January 31, 2024.
• The incremental limit for individual SPDs is being conveyed to them separately.
• The repo rate (the interest rate at which banks draw liquidity from the RBI to overcome short-term
liquidity mismatches) is at 6.50 per cent.
• The banking system has been facing a liquidity deficit since September 2024, with the deficit
standing at about ₹2.68 lakh crore as of January 29, 2024.
NABARD projects priority sector credit target of Rs 3.97 lakh cr for Karnataka in 2024-25
• The National Bank for Agriculture and Rural Development (Nabard) has pegged a credit potential
of ₹2.80 lakh crore for the priority sector for the financial year 2024-25, showing a whopping
growth of 51 per cent over the last year’s projections.
• This includes a credit potential of ₹1.33 lakh crore for agriculture.
• Of the total estimates, crop loans constituted 29 per cent, MSME (46 per cent) and Agri ancillary
activities (7 per cent.)
SBI to Down-sell 50% of ₹11,000 Crore Loan to Adani's Ganga Expressway Project
• More than a year after disbursing loans to Adani Group's Ganga Expressway project, State Bank
of India (SBI) is in the process of downselling half of the nearly ₹11,000-crore loan exposure to the
longest tolled road-project in the country.
• Talks with Financial Institutions : The lender is in talks with financial institutions, such as the
National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank
(PNB) and some power finance companies, to downsell half of its exposure.
About SBI :
.

Asian Development Bank Raises Rs 1,250 Crore in Largest-Ever Local Currency Green Bond Issue
• The Asian Development Bank (ADB) has raised Rs 1,250 crore (approximately
USD 150 million) through its largest local currency green bond issuance to date.
• Bond Structure: The issue is structured as a 4-year currency-linked bond, with a one-time
repayment at maturity and carrying a fixed interest rate of 6.72% per year.
• Denomination and Settlement: While the bond is denominated in Indian rupees, it is settled in
United States dollars.
About ADB :
ESAF Small Finance Bank Collaborates with Edelweiss Tokio for Bancassurance Services
• ESAF Small Finance Bank announced a significant bancassurance partnership with Edelweiss
Tokio Life Insurance to enhance financial solutions for customers.
• Alignment of Organizational Values : The collaboration underscores the commitment of both
organizations to prioritize customer needs and foster growth and
innovation in the financial sector.
• Diversification Strategy: The partnership reflects ESAF Small Finance Bank's strategic move to
diversify its offerings and extend financial security to a broader section of the unbanked and
underbanked population.
About ESAF Small Finance Bank :
• Established : 10 March 2017
• Headquarters : Thrissur, Kerala
• MD & CEO : Kadambelil Paul Thomas
About Edelweiss Tokio Life Insurance :
• MD & CEO : Sumit Rai
.
• Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Group of India, and Tokio
Marine Holdings of Japan
Indian Overseas Bank Achieves Rs 1 Lakh Crore Market Cap, Becomes Fifth PSU Bank to Do So
• Indian Overseas Bank (IOB), a state-owned bank, achieved a market capitalization exceeding Rs 1
lakh crore for the first time.
• This milestone comes after a remarkable 100% surge in the stock price over the last six months.
• Fifth PSU Bank to Cross Rs 1 Lakh Crore: IOB joins the ranks of State Bank of India (SBI), Bank of
Baroda, Punjab National Bank (PNB), and Union Bank of India as the fifth public sector lender to
surpass the Rs 1 lakh crore market capitalization mark.
• of the previous fiscal year, where the bank recorded a net profit of Rs 555 crore.
About IOB :
• Established : 10 February 1937
• Headquarters : Chennai, Tamil Nadu, India
• MD & CEO : Ajay Kumar Srivastava
RBI Revokes Registration of Three Non-Banking Financial Companies (NBFCs)

• The Reserve Bank of India (RBI), in the exercise of powers conferred on it under Section 45-IA (6)
of the Reserve Bank of India Act, 1934, has cancelled the
• Among the 9 NBFCs, S.M.I.L.E. Microfinance, JFC Impex Pvt Ltd, Cauvery Tradefin Pvt Ltd, and
Ginni Tradefin Ltd, surrendered their licence after exiting from business.
• JG Trading & Investment Pvt Ltd, SK Finserve Pvt Ltd, Microfirm Capital Pvt Ltd, Bohra & Co Pvt
Ltd, and Mahyco Grow Finance Pvt Ltd surrendered their licence as they ceased to be legal
entities after amalgamation/ merger/dissolution/ voluntary strike-off, etc.
About RBI :
RBI Allows Indian Banks in GIFT-IFSC to Trade on Bullion Exchange and Obtain Special Category
Client Status
.
• Indian banks operating in the Gujarat International Finance Tec-City International Financial
Services Centre (GIFT-IFSC) have been granted permission by the Reserve Bank of India (RBI)
for bullion exchange trading and special category customer status.
• The permission, granted on 9th February 2024, enables branches of Indian banks in GIFT-IFSC to
function as Trading Members (TM) or Trading and Clearing Members (TCM) of the International
Bullion Exchange IFSC Ltd.
bout GIFT IFSC :
• GIFT International Financial Services Centre (GIFT IFSC) is a financial centre and special
economic zone in Gujarat International Finance Tech-City (GIFT City).
• GIFT IFSC was established in April 2015 as a financial centre.
• GIFT IFSC is regulated by the International Financial Services Center Authority, the exclusive
independent regulator for the sector.
CCAvenue Expands Payment Offerings, Partners with IDFC First Bank to Provide EMI Solutions
• Infibeam Avenues Limited, a listed fintech company, announced a strategic alliance between its
flagship payment brand, CCAvenue, and IDFC First Bank.
• Aim : To provide extensive credit card EMI solutions, further enhancing the payment experience
for millions of Bank’s customers nationwide.
• With this collaboration, CCAvenue will offer easy payment services, complementing the existing
BNPL (Buy Now, Pay Later) facilities already offered to merchants.
About IDFC FIRST Bank :
• CEO: V. Vaidyanathan
institution.
• It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free credit
cards with dynamic and low annual percentage rates.
EPFO Sets 8.25% Interest Rate for Employees' Provident Fund for 2023-24
.
• The Employees Provident Fund Organization (EPFO) has raised the interest rate on EPF deposits
to 8.25% for the financial year 2023-24, marking the highest level in three years.
• The decision to increase the interest rate was made during a meeting of the EPFO's apex
decision-making body, the Central Board of Trustees (CBT), held on 10th February, 2024.
RBI Accelerates Central Bank Digital Currency (CBDC) Development with Enhanced Features
• The Reserve Bank of India (RBI) is intensifying its efforts to launch its Central Bank Digital
Currency (CBDC) and is introducing new features to enhance its functionality.
• As part of the CBDC pilot program, the RBI is introducing programmability and offline functionality
to the digital currency, aiming to improve its usability and versatility.
• The CBDC Retail (CBDC-R) pilot currently facilitates Person to Person (P2P) and Person to
Merchant (P2M) transactions using Digital Rupee wallets provided by selected banks.
bout CBDC :
• CBDC, also known as Digital Rupee or e₹, represents a digital form of physical currency issued by
the RBI.
• The RBI creates tokens and distributes them to selected banks, referred to as Token Service
Providers (TSPs), which further distribute the tokens to interested parties and customers.
• Digital Rupee tokens will function similarly to physical cash, enabling users to conduct transactions
seamlessly without the need for paper currency.
RBI to Strengthen Oversight of Aadhaar Enabled Payment System, Framework to be Released Soon
• The Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized the central bank is
vigilant to enhance the security of Aadhaar Enabled Payment System (AePS) transactions.
• The RBI proposes to streamline the onboarding process for AePS touchpoint operators, including
mandatory due diligence, to be followed by banks.
• Aadhaar Enabled Payment System (AePS), operated by NPCI, enables customers to perform
digital payment transactions in assisted mode.
Karnataka Bank Unveils 'Bharat Ka Karnataka Bank' Campaign to Commemorate Centennial

Anniversary
• Karnataka Bank has launched its centenary campaign, ‘Bharat Ka Karnataka Bank’, to mark its
100 years of service in banking.
.
• The campaign is jointly executed by Havas Media India and Havas Worldwide India and
underscores Karnataka Bank’s ability to adapt to the changing times while staying true to its core
values.
• To strengthen Karnataka Bank’s brand awareness, fostering a deeper connection with customers
while also inviting new patrons to be a part of its storied legacy.
• Headquarters : Mangaluru, Karnataka.
• Managing Director (MD) and Chief Executive Officer (CEO) : Srikrishnan H
• Tagline : Your Family Bank Across India
• Karnataka Bank is a Scheduled Commercial Bank.
HDFC Bank and ICICI Bank Make Strategic Investments in Residential Mortgage-Backed Securities
Firm RDCL
• Two of India's biggest lenders HDFC Bank and ICICI Bank have invested in a company called
RMBS Development Company Limited to promote the residential mortgage-backed securities
market.
• The two lenders have acquired a 7% stake each in a newly formed company, they informed in
separate regulatory filings on February 2.
• Formation of RDCL : RMBS Development Company (RDCL) will have 10 banks and financial
institutions as its shareholders, the lenders informed exchanges. However, they have not named
other shareholders of the proposed company.
About HDFC Bank :
About ICICI Bank :
• Headquarters : Mumbai , Maharashtra, India
• MD & CEO : Sandeep Bakhshi
Reserve Bank of India Raises Annual Remuneration Limit for Non-Executive Directors in Private Sector
.
Banks by ₹10 Lakh to ₹30 Lakh

• In a bid to enable banks to sufficiently attract qualified competent individuals on their Boards, 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 ceiling has been raised only in respect of remuneration of Non-Executive Directors (NEDs),
other than the Chair of the Board.
About RBI :
2 Additional Russian Banks Designated as Foreign Portfolio Investors

• Two additional Russian banks, Tinkoff Bank and CentroCredit Bank, have registered as foreign
portfolio investors (FPIs), bringing the total number of FPI registrations from Russia to 10.
• Profile of Registered Banks : Tinkoff Bank: Second largest credit card provider in Russia and the
world's largest digital bank in terms of customer base.
• CentroCredit Bank: Universal Bank is registered as a category II FPI.
Paytm Establishes Advisory Committee Led by Former SEBI Chairman M Damodaran
• The owner of fintech firm Paytm, One 97 Communications Limited, announced the formation of an
advisory committee chaired by former Securities and Exchange Board of India (SEBI) chairman M
Damodaran.
• The committee will work closely with the Board of Directors to further strengthen compliance and
regulatory matters.
• The committee includes M.M. Chitale, former president of the Institute of Chartered Accountants of
India (ICAI) and a former governing Council Member of the Banking Codes and Standards Board
of India nominated by RBI.
• R. Ramachandran is also part of the Group Advisory Committee.
About Paytm :
• Founder & CEO : Vijay Shekhar Sharma
.
RBI keeps policy interest rates unchanged; FY 2024-25 inflation pegged at 4.5%, GDP growth at 7%
• On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary
Policy Committee (MPC) at its meeting (February 8, 2024) decided to:
• Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
• Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 percent and the
marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
IRDAI Clears Axis Bank's ₹1,612 Crore Investment in Max Life Insurance, Awaits CCI Approval
• Max Financial Services has received approval from the Insurance Regulatory and Development
Authority of India (IRDAI) for a capital infusion of Rs 1,612 crore by Axis Bank into the company's
material subsidiary, Max Life Insurance.
• Equity Shares Issuance: Max Life will issue approximately 14,25,79,161 equity shares to Axis
Bank as part of the deal, representing the aggregate investment amount mentioned.
About Max Life Insurance Company Limited :
• Founded : 2001
• MD & CEO : Mr Prashant Tripathy
• It is a 80:20 joint venture between Max Financial Services and Axis Bank.
• The company is a subsidiary of the publicly-listed Max Financial Services.
SBI Mutual Fund Introduces SBI Energy Opportunities Fund

• SBI Mutual Fund announced the launch of the SBI Energy Opportunities Fund.
• The scheme opened for public subscription on February 06, 2024, and will close on February 20,
2024.
• The scheme re-opens for continuous sale and repurchase within five business days from the date
of allotment.
• Minimum Investment: Investors can participate in the scheme with a minimum investment of ₹5000
per plan/option and in multiples of Re 1.
• There is no upper limit for investment.
About SBI Mutual Fund :
• Founded : 29 June 1987
.

• MD & CEO : Mr. Shamsher Singh
Federal Bank Introduces RuPay-Backed NCMC Wallet Debit Cards

• Federal Bank launched National Common Mobility Card (NCMC) integrated debit cards.
• NCMC is a feature introduced on RuPay Contactless Debit Card which allows cardholders to make
payments across NCMC-enabled terminals at metro stations, buses, etc in an offline mode, just by
tapping the card on the card reader.
• Digitization of Payments: The initiative aims to streamline travel experiences by digitizing
payments, offering convenience to cardholders
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
• Tagline : Your Perfect Banking Partner
Bank of Maharashtra (BoM) Leads PSU Banks in Q3 with Highest Deposit Mobilization Growth
• Bank of Maharashtra (BoM) has recorded the highest growth rate in terms of deposit mobilisation
among public sector lenders at a time when most lenders are facing difficulty in achieving double-
digit growth.
• Out of 12 public sector banks, only BoM and State Bank of India (SBI) could log a double-digit
growth in deposits in the third quarter ended December 2023.
• The Pune-based lender BoM reported a 17.89 per cent growth in deposits followed by SBI at 12.84
per cent during the quarter, according to published quarterly numbers of the public sector banks
(PSBs).
Juspay, Zoho, and Decentro Receive RBI Approval for Payment Aggregator Business
• Fintech startups Juspay and Decentro have secured the final license to operate as payment
aggregators, joining the ranks of established players like Razorpay, Cashfree, and Zomato.
• Diverse Offerings: Juspay previously functioned as a payment gateway specializing in e-commerce
transactions, while Decentro focuses on enabling e-commerce and consumer-facing businesses to
provide financial services like lending and KYC verification.
.
Tata Group Achieves Milestone as the First Indian Conglomerate to Surpass Rs 30 Lakh Crore Market
Capitalization
• Tata Group has achieved a significant milestone by surpassing a combined market capitalization of
Rs 30 lakh crore, becoming the first Indian conglomerate to achieve this valuation.
• With an overall valuation of Rs 30.6 lakh crore, Tata Group now holds the title of the most valued
conglomerate in India, surpassing competitors like Reliance Group and Adani Group in market
capitalization rankings.
HDFC Bank Introduces Four SME Credit Cards Catering to Entrepreneurs and Freelancers
• India's largest private sector bank, HDFC Bank, launched 4 new small and medium enterprises
(SME)-focused credit cards to cater to the specific needs of entrepreneurs, freelancers, and
professionals.
• 55 Days Interest-Free Credit Period : The main highlight of the cards is that they will provide 55
days of interest-free credit, the highest number of days offered by any bank.
• Variants : The four variants include BizFirst, BizGrow, BizPower, and BizBlack, each designed to
cater to different business requirements.
State Bank of India Releases Electoral Bonds Valued at Rs 16,518 Crore Across 30 Tranches
• The State Bank of India (SBI) has issued Electoral Bonds totalling Rs 16,518 crore in 30 tranches
since the inception of the scheme in 2018.
• Objective of Electoral Bond Scheme : To ensure clean tax-paid money is coming into the system of
political funding through proper banking channels.
• Launch and Nature of Scheme : The Electoral Bond Scheme was introduced by the Union
government in 2018.
• It functions as a bearer instrument, similar to a promissory note, purchasable by Indian citizens or
companies incorporated in India.
About SBI :
• CFO : Kameshwar Rao Kodavan
.
Reserve Bank of India imposes Rs 8.80 lakh fine on Power Finance Corporation for norm violation
• The Reserve Bank of India (RBI) has imposed a fine of Rs 8.80 lakh on Power Finance
Corporation Limited for violating norms pertaining to the 'Liquidity Risk Management Framework
for Non-Banking Financial Companies and Core Investment Companies'.
• During the statutory inspection conducted by the RBI, it was discovered that Power Finance
Corporation had failed to maintain the mandated Liquidity Coverage Ratio (LCR) of 60 percent as
of March 31, 2022.
About RBI :
About Power Finance Corporation Limited :
• Headquarters : New Delhi, India
• Chairman & Managing Director : Parminder Chopra
• Power Finance Corporation Ltd. is an Indian central public sector undertaking under the ownership
of the Ministry of Power, Government of India.
Yes Bank Partners with LeRemitt to Facilitate Seamless Cross-Border Transactions for Micro, Small
and Medium Enterprises
• Fintech startup LeRemitt and Yes Bank have partnered to introduce a cross-border platform that
enables micro, small and medium enterprises (MSMEs) to conduct international transactions in key
currencies, including US dollars and euros.
• In addition to multi-currency support, the platform offers transparency, efficiency, and cost benefits
for small businesses involved in global trade, making it more accessible for MSMEs.
About LeRemitt :
• Founded : 2022
• Co-founder and CEO : Sheetal Jain
• LeRemitt serves as a cross-border remittance platform, assisting MSMEs in sending and receiving
payments, besides offering various other services.
About Yes Bank :
.

• MD & CEO : Prashant Kumar
• Tagline : Experience our expertise
Life Insurance Corporation Unveils New Insurance-Cum-Savings Plan: LIC Index Plus Policy
• Life Insurance Corporation of India (LIC) announced the launch of its new unit-linked life insurance
product, LIC Index Plus.
• LIC’s Index fund is a unit-linked, non-participating, individual life insurance plan.
• Minimum age at entry: 90 days (completed).
• Maximum age at entry: 50 or 60 years (nearer birthday) depending on the basic Sum Assured.
About LIC:
• Established: 1st September 1956
• Headquarters: Mumbai, India
• Chairperson : Siddharth Mohanty
Government Allocates Rs 9,000 Crore to Exim Bank Amid Rising NPAs from Loans Extended to
Foreign Countries
• Loans extended through Exim Bank of India to certain countries, particularly African nations, have
been classified as "doubtful debt" in the financial year 2023-24.
• The Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to Exim Bank after invoking
Government of India (GoI) guarantees on these loans.
• This indicates the involvement of the Indian government in backing these loans.
• Non-Performing Assets (NPAs): Some decade-plus old loans extended to African countries have
turned into NPAs, leading to the invocation of government guarantees by Exim Bank.
About Ministry of External Affairs :
• Cabinet Minister : Subrahmanyam Jaishankar
• Minister of State : V. Muraleedharan, Rajkumar Ranjan Singh, Meenakshi Lekhi
About Exim Bank :
• Managing Director : Harsha Bangari
Finance Ministry Introduces 'Direct Listing of Indian Companies' Equity Shares on International
.
Exchanges Scheme' through Amendment to Foreign Exchange Management Rules
• The Finance Ministry amended the Foreign Exchange Management (Non-debt Instruments) Rules,
2019, to introduce the 'Direct Listing of Equity Shares of Companies Incorporated in India on
International Exchanges Scheme'.
• Investor Approval: Investors from countries such as China will require government approval to
participate in the direct listing of equity by Indian entities on international stock exchanges.
• Initial Jurisdiction and Exchanges: The scheme starts with GIFT IFSC as the permissible
jurisdiction and NSE International Exchange India International Exchange as the international
exchanges.
India Extends Unified Payments Interface Services to Sri Lanka and Mauritius
● India introduced its Unified Payments Interface (UPI) services in Sri Lanka and Mauritius during a
virtual event.
● The virtual ceremony was attended by Prime Minister Narendra Modi, Mauritian Prime Minister
Pravind Jugnauth, and Sri Lanka's President Ranil Wickremesinghe.
● Purpose of the Launch : The launch enables the availability of UPI settlement services for Indian
nationals travelling to Sri Lanka and Mauritius, as well as for Mauritian nationals travelling to
India.
● Expansion of UPI Services Worldwide : With the introduction of UPI payments in Sri Lanka and
Mauritius, UPI payments are now accepted in several countries, including France, the United
Arab Emirates (UAE), Singapore, Bhutan, and Nepal.
What is UPI?
● Unified Payments Interface, commonly referred as UPI, is an Indian instant payment system
developed by the National Payments Corporation of India (NPCI) in 2016.
● The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M)
transactions.
Note :
● France is the first European country to accept UPI payments.
About NPCI :
.

Reserve Bank of India Sets Sovereign Gold Bond's Next Tranche Issue Price at Rs 6,263 per Gram
● The Reserve Bank of India (RBI) announced that the issue price of the next tranche of Sovereign
Gold Bond has been fixed at Rs 6,263 per gram.
● The Government of India in consultation with the Reserve Bank of India has decided to allow a
discount of ₹50 per gram from the issue price to those investors who apply online and the
payment is made through digital mode.
● For such investors the issue price of Gold Bond will be ₹6,213 per gram of gold.
What is a Sovereign Gold Bond?
● SGBs are government securities denominated in grams of gold.
● The SGB Scheme was first launched by the Government of India (GOI) on October 30, 2015.
● They are substitutes for holding physical gold.
● Investors have to pay the issue price, and the bonds will be redeemed upon maturity.
● The bond is issued by the Reserve Bank on behalf of the Government of India (GOI).
● The bonds are issued in denominations of one gram of gold and in multiples thereof.
● The minimum investment in the bond shall be one gram, with a maximum subscription limit of 4
kg for individuals, 4 kg for HUFs, and 20 kg for trusts and similar entities notified by the
government from time to time per fiscal year.
● Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks,
Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India (SHCIL),
and the authorised stock exchanges either directly or through their agents.
● These securities are eligible to be used as collateral for loans from banks, financial Institutions,
and Non-Banking Financial Companies (NBFCs).
Punjab & Sind Bank Partners with Warehousing Development Regulatory Authority to Provide Low-
Interest Loans for Farmers
● In a move to support farmers and traders with low-interest rate loans, the Warehousing
Development Regulatory Authority (WDRA) and Punjab & Sind Bank (PSB) have signed a
Memorandum of Understanding (MoU).
● Primary objective of the MoU : To raise awareness about funding against electronic Negotiable
Warehouse Receipts (e-NWRs).
What is Electronic Negotiable Warehouse Receipt (eNWR)?
● eNWR is a digital warehousing receipt issued by registered warehouses regulated and governed
.
by a statutory body -the Warehousing Development and Regulatory Authority (WDRA) of India.
● The eNWR can be used by farmers to finance and trade in settlements without physically
exchanging goods.
● eNWR can be used as a three-in-one instrument (finance, trading, and settlement).
About WDRA :
● Chairman : T K Manoj Kumar
About Punjab & Sind Bank :
● MD & CEO : Swarup Kumar Saha
Government of India and Asian Development Bank Ink $200 Million Loan Deal to Address Flood and
Erosion Threats Along Brahmaputra River
● The Government of India (GoI) and the Asian Development Bank (ADB) have finalised a $200
million loan agreement.
● Purpose of the loan agreement : To strengthen flood and riverbank erosion risk management on
or beside the 650 km long region of the Brahmaputra River in Assam.
● Project Details : The loan agreement pertains to the Climate Resilient Brahmaputra Integrated
Flood and Riverbank Erosion Risk Management Project in Assam.
● Project Basis and Progress : The project draws upon the achievements and experiences gained
from the Assam Integrated Flood and Riverbank Erosion Risk Management Investment
Programme, laying a foundation for further advancements in the region
● Previous Programme : The Assam Integrated Flood and Riverbank Erosion Risk Management
Investment Programme, funded by ADB and implemented from 2010 to 2020, serves as a
precursor to the current initiative.
About ADB :
and 19 non-regional members (countries outside the region).
.
RBI Directs Visa and Mastercard to Cease Business Payments via Commercial Cards
● The Reserve Bank of India (RBI) has instructed major international payment players Visa and
Mastercard to halt card-based commercial transactions conducted by both small and large
businesses.
● Reason for Action: The directive from RBI arises from concerns related to compliance with Know
Your Customer (KYC) regulations.
● This action comes in the wake of recent regulatory measures taken by RBI against Paytm
Payments Bank.
● Role of BPSPs: Business Payment Solution Providers (BPSPs) are regulated and licensed by the
RBI under the PA-PG (Payment Aggregators - Payment Gateways) guidelines.
● Current Payment Methods for Businesses : Currently, fintech companies like Cred, Paytm and
Nobroker allow rent and tuition fee payments through commercial, credit and debit cards.
● It should be noted that companies mostly make their business payments through net
banking/NEFT or RTGS for large transfers which are now 24x7.
● Fintech players like Enkash and Paymate allow process payments made through commercial
cards for business needs like paying vendors and suppliers.
About RBI :
About Mastercard :
● Founded : 1966
● Headquarters : New York, U.S
Indian Overseas Bank Marks 88th Foundation Day with Opening of 88 New Branches and Introduction
of New Rupay and CASA Variants
● The Indian Overseas Bank (IOB) has launched new products on the occasion of the Bank’s 88th
Foundation Day, celebrated on February 10, 2024 in Chennai, Tamil Nadu (TN).
● Credit Card Variants: IOB launched three new credit card variants: RuPay Classic, RuPay
Platinum, and RuPay Select, offering various reward points and benefits.
● The premium variant, RuPay Select, includes personal accident coverage of up to ₹10 lakhs.
● Green Deposit Scheme: IOB has introduced the Green Deposit Scheme under Retail Term
.
Deposits (less than ₹2 crore) to promote Green Finance EcoSystem India. The tenor of the
deposit shall be 999 days with an interest rate of 6.85 per cent, 5 bps higher than the regular
term deposit. w.e.f February 10, 2024.
● Senior citizens (aged 60 years and above) will get an additional interest rate of 0.50 per cent and
super senior citizens (aged 80 years and above) will get an additional interest rate of 0.75 per
cent above the card rates.
About IOB :
● Headquarters : Chennai, Tamil Nadu, India
● MD & CEO : Ajay Kumar Srivastava
● Tagline : Good people to grow with
SIDBI Introduces 'Prabhaav' - An Impact Study of the Fund of Funds for Startups
● The Small Industries Development Bank of India (SIDBI) has unveiled the report of the impact
assessment of the Fund of Funds for Startups (FFS), a key component of the startups namely
Prabhaav.
● Shri S. Ramann, Chairman & Managing Director, SIDBI along with Shri S P Singh, Chief General
Manager (CGM) Venture Finance, presented the report to Dr Vivek Joshi, Secretary, Dept. of
Financial Services, Ministry of Finance, GoI, Shri Rajesh Kumar Singh, IAS, Secretary, DPIIT
and Shri Sanjiv, IRS, Joint Secretary, Department for Promotion of Industry and Internal Trade
(DPIIT), Ministry of Commerce & Industry.
● As of November 30, 129 Alternative Investment Funds (AIFs) have been sanctioned out of FFS
across different segments.
● The scheme has already catalyzed investments to the tune of ~4x of the amount drawn with
₹17,534 crore invested in 938 unique startups.
● While FFS largely focuses on early-stage funding in young companies, as many as 18 of its
startups have already become unicorns.
About FFS :
● FFS is a flagship programme of DPIIT (Department for Promotion of Industry and Internal Trade)
and a key component of the Startup India Action Plan launched in 2016.
● It is managed by the Small Industries Development Bank of India (SIDBI).
● It has facilitated investments in startups, particularly in emerging sectors, and has promoted
diversity and inclusiveness, supporting startups beyond Tier 1 cities and women-led startups.
.

● The SIDBI was established under the Act of the Parliament in 1988.
Finance Standing Committee Advocates 'Open Architecture' for Insurance Agents
● The Standing Committee on Finance, chaired by BJP MP Jayant Sinha, has proposed the
adoption of an 'open architecture' concept for insurance agents to enhance the outreach of
insurance products and strengthen distribution infrastructure in the country.
● Open Architecture Definition: Open architecture allows insurance agents to offer services from
multiple insurance companies, aiming to expand the availability of insurance products and bolster
distribution nationwide.
● Current Limitations: Presently, the Insurance Act 1938 limits agents to working with only one life,
one non-life, and one health insurance company.
● Urging for a rationalization of the 18% GST rate on insurance, particularly for health and term
insurance.
Reserve Bank of India and Nepal Rastra Bank Sign Terms of Reference for Integration of Unified
Payments Interface and National Payments Interface for Cross-Border Remittances
● The Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) signed and exchanged Terms of
Reference (ToR) to integrate fast payment systems of India and Nepal through the Unified
Payments Interface (UPI) of India and National Payments Interface (NPI) of Nepal, respectively.
● Aim of the integration : To facilitate cross-border remittances between India and Nepal by
enabling users of the two systems to make instant, low-cost fund transfers.
What is meant by Terms of reference (TOR)?
● Terms of reference (TOR) define the purpose and structures of a project, committee, meeting,
negotiation, or any similar collection of people who have agreed to work together to accomplish a
shared goal.
● Terms of reference show how the object in question will be defined, developed, and verified.
Forensic Audit by National Credit Guarantee Trustee Company on Bandhan Bank Investigates the
.
Practice of Evergreening Loans

● The National Credit Guarantee Trustee Company (NCGTC) has initiated a forensic audit at
Bandhan Bank due to concerns about the evergreening of loans and fictitious loan accounts
within certain portfolios covered under credit guarantee schemes.
● Loan Amount Covered: The audit encompasses ₹23,300 crore of loans that were extended under
credit guarantee schemes.
● Credit Guarantee Schemes Covered : ₹2,500 crore of loans insured by the government's
Emergency Credit Line Guarantee Scheme (ECLGS).
● ₹20,800 crore covered by the Credit Guarantee Fund for Micro Units (CGMFU).
About NCGTC :
● National Credit Guarantee Trustee Company Ltd (NCGTC) was set up by the Department of
Financial Services, Ministry of Finance, Government of India.
● It was set up as a common trustee company to operate and manage various credit guarantee
trust funds.
● It was incorporated on March 28, 2014 with a paid-up capital of ₹10 crore.
Mirae Asset Mutual Fund Introduces India's Inaugural Multi-Factor ETF Based on Nifty Smallcap250
Index
● Mirae Asset Mutual Fund announces India’s first Multi factor-based Exchange Traded Fund
(ETF) on the Nifty Smallcap250 Index, ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100
ETF’, an open-ended scheme replicating/tracking Nifty Smallcap 250 Momentum Quality 100
Total Return Index, and the ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of
Fund’, an open-ended fund of fund scheme investing in units of Mirae Asset Nifty Smallcap 250
Momentum Quality 100 ETF.
● Aim : To provide investors with sector-agnostic exposure within the smallcap category by
leveraging a combination of factors.
● NFO Dates : The New Fund Offer (NFO) for the Mirae Asset Nifty Smallcap 250 Momentum
Quality 100 ETF will open for subscription on February 12, 2024, and close on February 21,
2024.
● Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund will open for
subscription on February 15, 2024, and close on February 28, 2024.
● Type of Schemes: Both are open-ended schemes benchmarking the Nifty Smallcap 250
Momentum Quality 100 Total Return Index.
.
● Fund Managers: The schemes will be managed by Ekta Gala and Vishal Singh.
● Minimum Investment : The minimum initial investment during NFO in both the schemes will be
₹5,000.
● Further investments can be made in multiples of Re 1 thereafter.
About Mirae Asset Investment Managers (India) Pvt. Ltd :
● Chairman & Independent Director : Yogesh Chadha
● CEO : Swarup Anand Mohanty
● Mirae Asset Mutual Fund is one of India’s fastest-growing fund houses.
● Mirae Asset Investment Managers (India) Pvt. Ltd. is the Asset Management Company (“AMC")
of Mirae Asset Mutual Fund.
Indian Highways Management Company Limited excludes Paytm Payments Bank from the list of
authorized banks for issuing FASTags
● Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI,
has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments
Bank for hassle-free travel.
● The 32 authorised banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC
Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among
others.
● India has over 8 crore FASTag users and Paytm Payments Bank (PPBL) has around 30 per cent
market share.
What is FASTag?
● FASTag is an electronic toll collection system in India operated by the National Highways
Authority of India (NHAI).
● It employs Radio Frequency Identification (RFID) technology for allowing toll payments directly
from the linked bank accounts.
● A FASTag is valid for 5 years, and can be recharged as required.
About IHMCL :
● Indian Highways Management Company Limited. (IHMCL), a company promoted by NHAI is
implementing the National Electronic Toll Collection Program (NETC) in the country under the
brand name “FASTag” which was launched in April 2016.
.
Supreme Court Orders Immediate Halt to State Bank of India's Electoral Bond Issuance
● The Supreme Court directed the State Bank of India (SBI) to stop issuing electoral bonds
immediately.
What are Electoral bonds?
● Electoral bonds are interest-free bearer bonds or money instruments that can be purchased by
companies and individuals in India from authorised branches of the State Bank of India (SBI).
● The bonds are similar to bank notes that are payable to the bearer on demand and are free of
interest.
● Purchase and denominations : These bonds are sold in multiples of Rs 1,000, Rs 10,000, Rs 1
lakh, Rs 10 lakh, and Rs 1 crore.
● Usage period : EBs have a life of only 15 days during which it can be used for making donations
to political parties.
● Tax exemptions: Donations made through electoral bonds are considered tax-exempt under
Section 80 GG and Section 80 GGB of the Income Tax Act.
● Eligibility for political parties: Only political parties registered under Section 29A of the
Representation of the People Act, 1951, and those securing at least 1% of votes polled in the last
general election to the House of the People or the Legislative Assembly of the State are eligible
to receive electoral bonds.
Rupee Co-operative Bank Limited Excluded from Second Schedule of the Reserve Bank of India Act,
1934
● The Reserve Bank of India (RBI) has officially excluded "Rupee Co-operative Bank Limited" from
the Second Schedule of the Reserve Bank of India Act, 1934.
● This exclusion was communicated by the RBI through an official notification issued for the
purpose.
● Scheduled banks are those financial institutions that are listed under Schedule II of the Reserve
Bank of India Act, 1934.
Electoral Bonds Amass a Total of ₹16,518 Crore Across 30 Tranches
● With the latest tranche last month, 30 tranches of electoral bonds issued so far have collected
over ₹16,518 crore.
● Introduction and Purpose : The scheme, introduced in 2018, aims “to ensure clean tax-paid
money is coming into the system of political funding through proper banking channels.”
● No Additional Charges : As per clause 10 of the Electoral Bond Scheme (Gazette Notification
.
dated 02.01.2018), no commission, brokerage or any other charges for the issue of a bond shall
be payable by the buyer against the purchase of the bond.
● The total value of Electoral Bonds purchased (Phase-I to Phase –XXX) from the State Bank of
India is about ₹16,518 crores.
● Eligibility to Purchase : These bonds may be purchased by a person who is a citizen of India or
incorporated or established in India.
● Purchase Options : An individual can buy electoral bonds singly or jointly with others.
● Eligibility to Receive : Only the Political Parties registered under Section 29A of the
Representation of the People Act, 1951 (43 of 1951) and which secured not less than 1% of the
votes polled in the last General Election to the House of the People or the Legislative Assembly
of the State, shall be eligible to receive the Electoral Bonds.
● Encashment Process : These will be encashed by an eligible Political Party only through a Bank
account with the Authorized Bank.
● Availability and Validity : The bonds under the scheme shall be available for purchase for 10 days
each in January, April, July and October, as may be specified by the Central Government.
LIC Introduces 'Amritbaal': A Traditional Savings Life Insurance Plan Tailored for Children
● The Life Insurance Corporation of India (LIC) has launched “Amritbaal”, an insurance plan for
children.
● The new “non-linked, non-participating, individual, savings, life insurance” plan is specifically
designed to have an adequate corpus to meet the higher education and other needs of a child.
● The minimum sum assured (SA) for this policy is ₹2 lakh and there is no maximum SA (subject to
underwriting decision).
● This policy will facilitate the accumulation of corpus through guaranteed additions at the rate of
₹80 per thousand basic sum assured at the end of each policy year from the inception till the end
of the policy term, provided the policy is in force.
● Age at entry/ exit : The minimum and maximum age at entry are 30 days (completed) to 13 years
(last birthday), respectively.
● The minimum and maximum age at maturity are 18 years (last birthday) and 25 years (last
birthday), respectively.
● The minimum policy term for limited premium payment is 10 years and for single premium
payment is 5 years.
● The maximum policy term for both limited and single premium payment is 25 years.
.
● Mode of instalment : It can be monthly, quarterly, half-yearly or yearly where the minimum
instalment amount can be ₹5,000, ₹15,000, ₹25,000 or ₹50,000, respectively.
SBI Introduces Digital Enrollment for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan
Mantri Suraksha Bima Yojana Schemes for Customers
● State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan
Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana
(PMSBY) schemes for its customers.
About Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) :
● Duration: It is a one-year life insurance scheme renewable from year to year.
● Coverage: Provides coverage for death due to any reason.
● Administered by: Either LIC or any other life insurance company in partnership with banks/Post
offices.
● Eligibility: Individuals aged between 18-50 years holding a savings bank or a post office account
are eligible to enrol.
● Sum Assured: Offers a life cover of Rs. 2 Lakhs against a premium of Rs. 436/- per annum.
About Pradhan Mantri Suraksha Bima Yojana (PMSBY) :
● Duration: Similar to PMJJBY, it is a one-year accidental insurance scheme renewable annually.
● Coverage: Provides coverage for death or disability due to an accident.
● Administered by: Public Sector General Insurance Companies (PSGICs) or any other general
insurance company in partnership with banks/Post offices.
● Eligibility: Individuals aged between 18-70 years holding a savings bank or a post office account
are eligible to enrol.
● Sum Assured: Offers an accidental death cum disability cover of Rs. 2 lakhs (Rs. 1 lakh in case
of partial disability) against a premium of Rs. 20/- per annum.
About SBI :
IRDAI Suggests Implementation of a 30-Day 'Free Look' Period for Policies Starting from Receipt Date
● The insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has
proposed to extend the free look period for the policies from the current 15 days to 30 days now.
.
● This proposal is included in the draft of IRDAI (Protection of Policyholders' Interests and Allied
Matters of Insurers) Regulations, 2024.
● Definition of Free Look Period: The 'free look' period refers to the duration within which a
policyholder can cancel the policy without incurring surrender charges.
About IRDAI :
Federal Bank Introduces Stellar Savings Account for Customer Base
● Federal Bank has launched its latest banking product, the Stellar Savings Account, to
revolutionize the banking sector by offering exceptional benefits and innovative features.
● Objective: The introduction of the Stellar Savings Account aims to enhance customer experience,
promote financial wellness, and encourage eco-friendly banking practices.
● Headquarters : Aluva, Kochi, Kerala
● CEO: Shyam Srinivasan
● Tagline : Your Perfect Banking Partner
Electoral Bond Sales: Mumbai Reigns with Over ₹4000 Crore, While Delhi Takes the Lead in
Encashment
● Mumbai emerged as the city with the largest share of electoral bond sales since the inception of
the donation scheme in 2018.
● However, most of the bonds were encashed in Delhi during the period.
● According to data compiled by Election Watchdog, Association for Democratic Reforms (ADR),
Mumbai contributed about 24% of the now-scrapped bonds worth ₹16,518 crore sold across
cities in India until January 2024, with 5,426 bonds worth ₹4,009.4 crore.
● Following Mumbai, Hyderabad ( ₹3,554 cr), Kolkata ( ₹3,333 cr), New Delhi ( ₹2,324 cr), and
Chennai ( ₹1,524 cr) were the top cities in terms of bond sales.
● These five cities together accounted for over ₹14,744 crore, close to 90 percent worth of 28,030
.
bonds sold across 18 cities.

● The court directed the State Bank of India (SBI), the sole issuer of bonds, to provide details such
as names of bond buyers, dates of purchase, and amounts donated to the Election Commission
(EC) by March 6, 2024.
● The EC is required to publish this information on its website by March 13, 2024.
Insurance Regulatory and Development Authority of India Publishes Exposure Draft for Bima Sugam
Insurance E-Marketplace
● The Insurance Regulatory and Development Authority (IRDAI) has introduced an exposure draft
proposal for an insurance electronic marketplace named Bima Sugam.
● This platform aims to serve as a central hub for all insurance-related activities, catering to
customers, insurers, intermediaries, and insurance agents alike.
● Bima Sugam will be a one-stop solution for all insurance stakeholders including customers,
insurers, intermediaries or insurance intermediaries and insurance agents to promote
transparency, efficiency, collaboration across the entire insurance value chain and technological
innovation in the insurance sector.
● Vision for "Insurance for all by 2047": Bima Sugam contributes to the vision of achieving
"Insurance for all by 2047" in India.
● Bima Trinity is made up of three components:
➢ Bima Sugam: A digital portal that integrates distributors and insurers into a single platform
➢ Bima Vistaar: An all-in-one insurance product that offers comprehensive insurance coverage at
affordable prices
➢ Bima Vahak: A women-led field distribution force
Paymart Collaborates with 5 Indian Banks to Introduce Innovative Virtual Cash Withdrawal Service,
Eliminating Need for Cards and Hardware
● Paymart, a fintech startup, has collaborated with 5 prominent Indian banks, namely IDBI Bank,
Indian Bank, Jammu & Kashmir Bank, and Karur Vysya Bank, to introduce a novel virtual,
cardless, and hardware-less cash withdrawal service.
● Current Availability: Presently, the virtual ATM service is accessible in select locations across
Chandigarh, Delhi, Hyderabad, Chennai, and Mumbai, as mentioned by Amit Narang, the
Founder & CEO of Paymart India Pvt Ltd.
● Transaction Limits : A user can withdraw a minimum amount of Rs 100 and a maximum amount
of Rs 2,000 per transaction, using this facility.
.
● The maximum limit has been set at Rs 10,000 per month for withdrawing through virtual ATMs.
BOBCARD and NPCI Introduce India's Second Corporate Credit Card on the RuPay Network
● BOBCARD (formerly known as BOB Financial Solutions), a wholly-owned subsidiary of Bank of
Baroda, and National Payments Corporation of India (NPCI) has announced the launch of
Corporate Credit Card on RuPay Network.
● With this, BOBCARD has become the second credit card issuer in the ecosystem to have a
Corporate Credit Card on RuPay.
● A corporate credit card on the RuPay network is a financial instrument designed specifically for
corporate clients, offering benefits and features tailored to meet the needs of businesses.
Note :
● In December 2023, IndusInd Bank launched ‘IndusInd Bank eSvarna’, India’s first Corporate
Credit Card on RuPay network to facilitate transactions at merchant outlets and allows users the
flexibility to make UPI payments by linking the card with UPI-enabled apps.
HDFC Bank Leads Profit Race, Outpaces State Bank of India in Current Fiscal Year
● HDFC Bank emerged as the most profitable company in the ongoing financial year, surpassing
State Bank of India (SBI) and Indian Oil Corporation (IOC) with a net profit of Rs 44,300 crore
during the initial nine months of the fiscal year.
● SBI reported a robust profit of Rs 40,378 crore, securing the second position in the profit
rankings, while Indian Oil Corporation (IOC) was third with a net profit of Rs 34,781 crore during
the same period.
● TCS and ONGC were among the top five companies in terms of net profit.
Investor Education and Protection Fund Authority Collaborates with DBS Bank to Promote Investment
Awareness and Combat Fraudulent Schemes
● A Memorandum of Understanding (MoU) was signed between the Investor Education and
Protection Fund Authority (IEPFA) under the aegis of the Ministry of Corporate Affairs (MCA),
and DBS Bank, a prominent financial institution with a strong presence in Asia and Southeast
Asia in New Delhi.
● According to the MoU, DBS Bank aims to support IEPFA's investor awareness activities by
disseminating safety messages via its various digital platforms.
● During the ceremony, Smt. Anita Shah Akella, Joint Secretary, MCA, and CEO of the IEPFA,
underscored the objectives behind the signing of the MoU and emphasised the proactive
approach adopted by the IEPFA to engage with users through various channels, aiming to
.
enhance responsiveness regarding the authority's mandate through its awareness initiatives.
● The MoU, formalising collaboration between the IEPF Authority and DBS Bank, was carried
under the leadership of Lt. Col. Tushar Anand, General Manager of the IEPF Authority, and Shri
Rajiv Bagga, Executive Director, and India Head of Government Business at DBS Bank.
● Previously, IEPFA has also signed MoUs with the Bank of Baroda and ICICI Bank for similar
activities.
About IEPFA :
● The IEPFA was set up on September 7, 2016, under the aegis of the Ministry of Corporate
Affairs, Government of India, for administering the Investor Education and Protection Fund for
making refunds of shares, unclaimed dividends, and matured deposits/debentures, among other
things, to investors.
IREDA Partners with Punjab National Bank to Co-Finance Renewable Energy Projects
● Indian Renewable Energy Development Agency Limited. (IREDA) and Punjab National Bank
(PNB) has signed a Memorandum of Understanding (MoU) aimed at advancing renewable
energy initiatives across the nation.
● The MoU was signed at IREDA's registered office in New Delhi.
● Aim : To facilitate joint efforts in co-lending and loan syndication for a diverse range of renewable
energy projects across the nation.
● Signatories : Dr. R. C. Sharma, General Manager of IREDA, and Shri Rajeeva, Chief General
Manager of PNB, signed the MoU.
● Key Provisions of the MoU : The MoU includes provisions for joint lending, loan syndication,
underwriting, management of Trust and Retention Account (TRA) for IREDA borrowers, and
working towards competitive terms of sanction, including pricing on IREDA borrowings.
● Previous Partnerships : This collaboration strengthens IREDA's successful partnerships with
other prominent financial institutions, including Bank of Baroda, Union Bank of India, Bank of
India, India Infrastructure Finance Company Limited, Bank of Maharashtra, and Indian Overseas
Bank.
Unauthorised Business Payment Solution Providers Operations Limited to a Single Card Network
● The Reserve Bank of India (RBI) has disclosed that only one card network has unauthorized
Business Payment Solution Providers (BPSP) operations.
● The RBI has refrained from explicitly naming the card network involved in these unauthorized
operations.
.
● BPSP Operations Overview : Under the BPSP arrangement, an intermediary receives payments
from corporates via commercial cards and subsequently transfers the funds to receivers who do
not accept cards, utilizing IMPS, RTGS, or NEFT.
● Lack of Authorization : Such payment systems are required to obtain authorization under Section
4 of the Payment and Settlement Systems (PSS) Act, 2007, which the identified card network
has not secured.
Insolvency and Bankruptcy Board of India Expert Panel Advocates Specialized Insolvency Mediation in
Insolvency and Bankruptcy Code
● An expert panel convened by the Insolvency and Bankruptcy Board of India (IBBI) has
recommended specialized insolvency mediation within the framework of the Insolvency and
Bankruptcy Code (IBC).
● The panel proposed the gradual introduction of voluntary mediation as an additional dispute
resolution method under the IBC.
● Currently, the Insolvency and Bankruptcy Code (IBC) lacks legal provisions pertaining to
mediation.
● Expert Committee Head and Report Submission : TK Viswanathan, a former Law Secretary,
chaired the expert committee appointed by the IBBI.
● The committee submitted its report to IBBI Chairman Ravi Mital at the Insolvency and Bankruptcy
Board of India (IBBI) office in Delhi on January 31.
● Definition of Mediation : Mediation is described as the involvement of an impartial third party to
facilitate the settlement of disputes between two or more parties.
● Inclusion of Voluntary Mediation Mechanism : The expert committee suggested incorporating a
"voluntary" mediation mechanism into the Insolvency and Bankruptcy Code, aligning with the
provisions of the Mediation Act, 2023.
About IBBI :
● Chairman : Ravi Mittal
● IBBI is the regulator for overseeing insolvency proceedings and entities like Insolvency
Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
● It was established on 1 October 2016 and given statutory powers through the Insolvency and
Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016.
Banks Seek Alternatives to Current Account Deposits Due to Government's Cash Management Strain
.
● All scheduled commercial banks witnessed a decrease in current account deposits, which
dropped from 10.43 percent of total deposits in 2022 to 10.13 percent in 2023.
● This information is sourced from the Reserve Bank of India's (RBI) report on the development
and trend of Indian banking.
● Implementation of JIT Concept : The Center has adopted the just-in-time (JIT) concept for the
release of money for all payments, including those funded centrally.
Kotak Life Unveils Digital-First Campaign for Guaranteed Wealth Builder Plans
● Kotak Mahindra Life Insurance Company (Kotak Life) unveiled its digital-centric campaign for the
Guaranteed Wealth Builder Plans (GWBP) by Kotak Life.
● The campaign showcases a range of reliable investment options provided by Kotak Life.
● Its goal is to tackle consumers' primary concerns regarding investments, specifically addressing
uncertainties surrounding returns and emphasizing the importance of investing in tax-efficient
instruments.
● The campaign features Bollywood actor Rajkummar Rao.
India's Foreign Direct Investment (FDI) Surges by 25.7% to Reach $2.1 Billion in January 2024
● India’s outward foreign direct investment (FDI) commitments rose by 25.7% on a year-on-year
(Y-o-Y) basis to $2.09 billion in January 2024, compared to over $1.66 billion in January 2023.
● However, there was a sequential decline from $2.5 billion in December 2023, as reported by the
Reserve Bank of India (RBI).
● Components of Outbound FDI: Outbound FDI commitments include equity, loans, and
guarantees.
● Equity Commitments: Equity commitments rose to $760.9 million in January 2024 from $597.4
million in January 2023, but were lower than the $834.7 million recorded in December 2023.
● Debt Commitments: Debt commitments increased to $306.2 million in January 2024 from $215.6
million a year ago, but decreased significantly from $687.9 million in December 2023.
● Guarantees: Guarantees for overseas units increased to $1.02 billion in January 2024 from
$854.1 million in January 2023.
● They also saw a slight increase from $988.4 million in December 2023, according to RBI data.
What is Foreign Direct Investment (FDI)?
● Foreign Direct Investment meaning is a type of investment in which a company or individual from
one country invests in a company or asset in another country.
.
● The purpose of FDI is to gain long-term involvement in the foreign market, generate profits,
access new markets, and transfer technology and expertise.
● This includes the purchase of shares, bonds, or other securities; the establishment of a new
business; or the acquisition of an existing business.
● The importance of FDIs in the stock market is not only to bring money with them but also skills,
technology and knowledge.
What are the Types of FDI?
● Horizontal FDI: This occurs when a company invests in another country to produce the same
products or services that it produces in its home country.
● For example, a U.S. car manufacturer might build a new factory in China to produce cars for the
Chinese market.
● Vertical FDI: When a company invests in another country to acquire a supplier or distributor for
its products or services.
● For example, a U.S. clothing company might acquire a textile mill in India to produce the fabric
for its clothes.
● Conglomerate FDI: It occurs when a company invests in another country to produce products or
services that are unrelated to its core business.
● For example, a U.S. telecommunications company might invest in a hotel chain in Europe.
IRDAI Grants Policybazaar In-Principle Approval to Upgrade License, Expand into Reinsurance Sales
● PB Fintech announced that insurance regulator Insurance Regulatory and Development Authority
(IRDAI) has granted in-principle approval to its wholly owned subsidiary Policybazaar Insurance
Brokers (Policybazaar) to upgrade its license from a direct insurance broker (Life and General) to
a composite insurance broker.
● This approval is expected to pave the way for Policybazaar to sell reinsurance products besides
being a pure play platform focused on insurance buying.
● PB Fintech reported its first-ever net profit of ₹37.2 crore for the quarter ending December 31,
2023.
● For the nine months ending December 31, 2023, PB Fintech's net profit stood at ₹4.2 crore.
● PB Fintech’s revenue from operations grew 43 per cent to ₹871 crore in the third quarter ended
December 31, 2023.
About IRDAI :
.

Bandhan Bank granted official authority to collect state revenues on behalf of the West Bengal
government
● Private lender Bandhan Bank has been authorised by the West Bengal government to collect tax
and non-tax receipts on its behalf.
● The mandate will enable the bank to collect revenues through the Government Receipt Portal
System (GRIPS).
● GRIPS is an online internet-based platform for making various tax and non-tax payments to the
West Bengal government.
● Founded : 2015
● MD & CEO : Chandra Shekhar Ghosh
PayPal Registers With India’s Financial Intelligence Unit
● US-based online payment gateway PayPal has officially registered its operations with the
Financial Intelligence Unit of India, six years after a legal battle between both entities.
● PTI reported that the company has completed the formal procedure of being designated as a
reporting entity under the Prevention of Money Laundering Act (PMLA) recently and has
submitted the requisite documents to the Financial Intelligence Unit (FIU).
● PayPal has also appointed a principal officer to communicate with the FIU, as required by the
anti-money laundering law.
● In December 2020, the federal anti-money laundering agency levied a penalty of INR 96 Lakh
against the global online payments giant, alleging non-compliance with the PMLA by failing to
register as a reporting entity.
● Earlier, PayPal refused to register itself as a reporting entity under the provisions of the PMLA,
arguing that it only operated in India as an Online Payment Gateway Service Provider (OPGSP)
or a payment intermediary, and therefore, does not come under the definition of a payment
system operator under the PMLA provisions.
.
● The Delhi High Court has set aside a penalty of INR 96 Lakh imposed on online payment major
PayPal by the finance ministry’s Financial Intelligence Unit-India for allegedly violating India’s
anti-money laundering law.
About PayPal:
● Headquarters: California, US
● Founders: Peter Thiel, Max Levchin, Ken Howery, Luke Nosek, Yu Pan
● Founded: December 1998
● President: Dan Schulman
● CEO: Alex Chriss
India Inc raised 15% more via corporate bond issuances in 9M FY24 vis-a-vis year ago period
● In what could be considered as a sign of investment demand gathering steam, India Inc raised
₹80,000 crore more via corporate bond issuances in the first nine months (9M) of FY24 vis-a-vis
a year ago.
● Corporate bond issuances during 2023-24 (from April 1 up to November-end 2023) were 15 per
cent higher year-on-year (yoy) at ₹6.1-lakh crore compared with ₹5.3-lakh crore a year ago, per
RBI data.
● Easing long term yields and relative stability in the bond market amidst a healthy economic
outlook has prompted issuers to raise funds for investments through debt issuances, per an
article “State of the Economy” in RBI’s latest monthly bulletin.
● RBI Governor Shaktikanta Das, in his February 8th bi-monthly monetary policy statement,
observed that investment cycle is gaining steam, aided by sustained thrust on government
capex (capital expenditure); increasing capacity utilisation; rising flow of resources to the
commercial sector; and policy support from schemes such as production linked incentive (PLI).
Corporate Bond:
● A corporate bond is debt issued by a company in order for it to raise capital.
● An investor who buys a corporate bond is effectively lending money to the company in return for
a series of interest payments, but these bonds may also actively trade on the secondary market.
● Corporate bonds are typically seen as somewhat riskier than U.S. government bonds, so they
usually have higher interest rates to compensate for this additional risk.
● The highest quality (and safest, lower yielding) bonds are commonly referred to as "Triple-A"
bonds, while the least creditworthy are termed "junk".
SEBI slaps ₹3-lakh fine on Kotak Alternate Investment Fund
.
● Market regulator SEBI has levied a penalty of ₹3 lakhs on Kotak Alternate Investment Fund and
its trustees for extending the tenure of its close-ended venture capital fund Kotak SEAF India
beyond the prescribed tenure.
● The corpus of VCF was ₹698 crore and had invested ₹577 crore in 18 portfolio companies.
● Per the first closing of the fund in March 2005, the tenure of the fund was for nine years and
extendable by one year.
● It was supposed to end on March 30, 2015 with a one-year extension.
● However, the fund took three extensions of seven years and it finally closed on March 30, 2022
with a super majority of 75 per cent from investors.
● SEBI ruled that after the maturity of the fund, as per the Private Placement Memorandum, the
trustees have no control over the fund.
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30
January 1992 through the SEBI Act, 1992
● SEBI is the regulatory body for securities and commodity markets in India under the
ownership of the Ministry of Finance, Government of India.
GDP growth to moderate to 6.0% in Q3 FY2024, led by agriculture and industry: ICRA
● India’s real GDP growth likely slowed to 6% in the third quarter of this fiscal year, from 7.6% in
Q2, rating firm ICRA stated, citing the uneven monsoon, slowing government capex and flagging
momentum in some indicators, including industrial activity.
● The National Statistical Office, which has estimated GDP growth for 2023-24 at
● 7.3%, will release its national income estimates for Q3 at the end of this month.
● ICRA also expects the economy’s Gross Value Added (GVA) to ease to 6%, from 7.4% in Q2,
with the expansion in agriculture GVA pegged at a mere 0.5% and industrial GVA growth seen
easing to 8.8%, from 13.2% in the preceding quarter.
About ICRA:
● The full form of ICRA is Investment Information and Credit Rating Agency.
● It was founded as an independent & competent investing information and credit score company
by leading banks, financial institutions and financial institutions in 1991.
● The Investment Information and Credit Rating Agency (ICRA) has its headquarters in Gurugram,
.
Haryana.
RBI Levies Monetary Penalty on Hanamasagar Urban Co-operative Bank Ltd., Karnataka
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹50,000 on Hanamasagar
Urban Co-operative Bank Limited., Karnataka.
● Reason : Penalty imposed for non-compliance with RBI directions regarding monitoring and
reporting mechanisms for frauds, as well as reporting of frauds on XBRL-FMR submission.
● Legal Basis for Penalty :RBI's action is based on the powers conferred under the provisions of
section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
Other Penalties :
● Transport Co-operative Bank Limited., Indore, Madhya Pradesh, faced a monetary penalty of
₹1.00 lakh for non-compliance with RBI's directions on loans and advances to directors, relatives,
and firms/concerns in which they are interested, as well as on investments by cooperative banks.
● Janseva Co-operative Bank Limited, Nashik, Maharashtra, received a penalty of ₹50,000 for
similar non-compliance.
● G P Parsik Sahakari Bank Ltd, Thane, faced a penalty of ₹26.60 lakh for non-compliance with
RBI's directions on customer protection regarding unauthorized electronic banking transactions
and Basic Savings Bank Deposit Account (BSBD Account).
About RBI :
Paytm Teams Up with Axis Bank for Merchant Payment Settlement Amid Reserve Bank of India's
Actions on Payments Banks
● Paytm has partnered with Axis Bank for the settlement of merchant payments.
● The company issued a release stating that One97 Communications has shifted its nodal account
to Axis Bank via an escrow account that it has opened with it.
● The shift of nodal accounts to Axis Bank will ensure seamless merchant settlements as before.
● According to One97 Communications, the parent company of Paytm, Paytm QR, Soundbox and
card machines will continue to operate seamlessly for all their merchant partners.
● The RBI extended the deadline for Paytm Payments Bank Ltd (PPBL) to stop accepting fresh
deposits and do credit transactions to March 15 from February 29.
● Nodal accounts or nodal bank accounts are special internal bank accounts that are mandated by
.
the RBI for businesses that are intermediaries, connecting customers to sellers.
● An escrow account is a temporary pass through account held by a third party during the process
of a transaction between two parties.
About Paytm :
● Founded : August 2010
● Founder & CEO : Vijay Shekhar Sharma
About Axis Bank :
India contributes $1 million to IBSA Fund for poverty and hunger alleviation
● India announced to contribute $1 million to the Poverty and Hunger Alleviation Fund established
by India, Brazil, and South Africa (IBSA).
● The fund is aimed at alleviating poverty and hunger.
● India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj handed over the
cheque to the Director of the UN Office for South-South Cooperation (UNOSSC) Dima Al-Khatib.
● The IBSA countries - India, Brazil and South Africa - each contribute one million dollars annually
to the Fund in a spirit of partnership and support for demand-driven, transformational projects in
developing countries.
● The IBSA Facility for Poverty and Hunger Alleviation (IBSA Fund) was established jointly by
grouping in March 2004 and it became operational in 2006.
● The purpose of the fund is to identify replicable and scalable projects that can be disseminated to
developing countries on a demand-driven basis.
Pension Fund Regulatory and Development Authority Announces Amendments to Trustee Bank (TB)
and Central Recordkeeping Agency (CRA) Regulations to Prioritise Subscriber Protection, Reduce
Compliance Costs, and Improve Business Ease
● The Pension Fund Regulatory and Development Authority (PFRDA) has notified the Trustee
Bank (TB) (Amendment) Regulations, 2023 and the Central Recordkeeping Agency (CRA)
(Amendment) Regulations, 2023.
● The amendments to Trustee Bank (TB) Regulations simplify and strengthen the provisions
.
related to the implementation of fraud prevention and mitigation policy, compensation to the
subscriber, invitation of application for new registration and surrender of certificate of registration.
● Amendments to CRA Regulations simplify and strengthen the provisions related to the
governance of CRA in line with the Companies Act, 2013, and enhanced disclosure of
information by CRA.
What is meant by Trustee Bank?
● Trustee Bank as an intermediary provides day to day banking of the funds and banking facilities
in accordance with the provisions of the guidelines and directions issued by PFRDA.
● The service levels of Trustee banks are monitored by NPS Trust.
About PFRDA :
Japan Pledges ¥232.209 Billion Official Development Assistance Loan for 9 Projects Across Various
Sectors in India
● The Japanese government has committed an Official Development Assistance (ODA) loan of
232.209 billion yen (about Rs 12,800 crore) for 9 projects across various sectors in India.
● The exchange of notes formalizing the loan commitment took place between Mr. Vikas Sheel,
Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India,
and Mr. Suzuki Hiroshi, Ambassador of Japan to India.
● The ODA loan assistance has been committed to:
● The North East Road Network Connectivity Improvement Project (Phase 3) (Tranche II): Dhubri-
Phulbari bridge (JPY 34.54 billion)
● The North East Road Network Connectivity Improvement Project (Phase 7): NH 127B (Phulbari-
Goeragre section) (JPY 15.56 billion)
● The Project for Promoting Start-up and Innovation in Telangana (JPY 23.7 billion)
● The Project for the Construction of Chennai Peripheral Ring Road (Phase 2) (JPY 49.85 billion)
.
● The Project for Promoting Sustainable Horticulture in Haryana (Tranche I) (JPY 16.21 billion)
● The Project for Climate Change Response and ecosystem Services Enhancement in Rajasthan
(JPY 26.13 billion)
● The Project for the Establishment of the Medical College Hospital at Nagaland Institute of
Medical Sciences and Research, Kohima (JPY 10 billion)
● The Project for the Improvement of Urban Water Supply System in Uttarakhand (JPY 16.21
billion)
● The Dedicated Freight Corridor Project (Phase 1) (Tranche V) (JPY 40 billion)
Note :
● India and Japan have had a long and fruitful history of bilateral development cooperation since
1958.
About Japan :
● Capital: Tokyo
● Currency: Japanese yen
About JICA :
● Established : October 1, 2003
● Headquarters : Tokyo, Japan
● President : Akihiko Tanaka
Alternative Investment Fund Commitments Exceed Rs 10 Trillion for the First Time, Driven by
Increasing Demand from High Net Worth Individuals
● Investment commitments received by Alternative Investment Funds (AIFs) have exceeded Rs 10
trillion for the first time, showcasing a significant increase in demand from investors seeking
higher returns compared to traditional investment options.
● Growth Trends: As of December 2023, the investment commitments reached Rs 10.84 trillion,
marking a quarter-on-quarter (Q-o-Q) increase of 13.6% and a year-on-year (Y-o-Y) increase of
over 40%.
What is meant by AIF?
● Alternative Investment Fund (AIF) is a special investment category that differs from conventional
investment instruments.
● It is a privately pooled fund.
● Generally, institutions and HNIs invest in AIFs as substantial investments are required.
.
● These investment vehicles adhere to the SEBI (Alternative Investment Funds) Regulations, 2012.
● AIFs can be formed as a company, Limited Liability Partnership (LLP), trust, etc.
● Resident Indians, Non-Resident Indians (NRIs), and foreign nationals can invest in these funds.
● AIFs come with a minimum lock-in period of 3 years.
● The number of investors in every scheme is restricted to 1000, except angel funds, where the
number of investors goes up to 49.
PhonePe Introduces Indus Appstore to Compete with Google Play Store in India
● Walmart-backed Indian fintech PhonePe launched its app store for Android called Indus
Appstore, becoming the first Indian rival to Google’s Play Store.
● PhonePe has informed us that no app listing fees will be charged for one year, until 1 April 2025,
for developers.
● Indus App Store allows Indian consumers to download over 2 lakh mobile apps and games,
across 45 categories.
● Users will be able to discover these apps conveniently in 12 Indian languages, thereby catering
to 95% of Indians’ language preferences.
About Phonepe :
● Founded : 2015
● Headquarters : Bangalore, Karnataka
● CEO : Sameer Nigam
RBI Report: Local Taxes and Fees Contribute 1.1% to Panchayats' Total Revenue
● According to a report by the Reserve Bank of India (RBI), Local taxes and fees contribute only
1.1% to Panchayats' total revenue.
● Non-Tax Revenue Composition: Non-tax revenue, primarily from Panchayati Raj programs and
interest earnings, makes up 3.3% of the total revenue receipts.
● States with Higher Non-Tax Revenue: States like Tamil Nadu, Himachal Pradesh, Maharashtra,
and Telangana reported higher non-tax revenue compared to others, as per the RBI report.
● Limited Own Revenue: Own revenues of Panchayats, generated through local taxes, fees, and
charges, constitute only 1.1% of their total revenue
● Ratio of Revenue Receipts: The ratio of Panchayats' revenue receipts to states' revenues varies,
ranging from 0.1% in Andhra Pradesh to 2.5% in Uttar Pradesh.
● Utilization of eGramSwaraj Platform: Over 2.5 lakh Panchayati Raj Institutions (PRIs) utilize the
.
eGramSwaraj platform for accounting purposes as of September 2023.

About eGramSwaraj Platform:
● Introduced : 2020
● eGramSwaraj serves as a simplified, work-based accounting application for PRIs, addressing
various aspects of Panchayat operations including planning, accounting, budgeting, and online
payments through the eGramSwaraj-PFMS interface.
Pension Fund Regulatory and Development Authority Announces Revisions to National Pension
System Trust (NPST) and Pension Fund Regulations to Enhance Governance
● The Pension Fund Regulatory and Development Authority (PFRDA) has notified the National
Pension System Trust (Second Amendment) Regulations 2023 and Pension Fund (Amendment)
Regulations 2023 .
● The amendments to NPS Trust Regulations aim to simplify various provisions related to the
appointment of Trustees, their terms and conditions, conducting Board meetings, and the
appointment of the CEO of NPS Trust.
● Amendments to Pension Fund Regulations aim to simplify governance provisions aligning with
the Companies Act, 2013, and enhance disclosure requirements by Pension Funds.
● The above amendments are in line with the Union Budget 2023-24 announcement to review
regulations to reduce the cost of compliance and enhance the ease of doing business.
HDFC Bank Successfully Raises $300 Million through Inaugural Sustainable Finance Bond Issue
● Largest private sector lender HDFC Bank has raised $300 million in its maiden sustainable
finance bond issue.
● The country's biggest private lender by market capitalisation priced its three-year sustainability
bond at a yield of 5.196%.
● This is 95 basis points (bps) over the 3-year U.S. Treasury yield, sharply lower than the initial
guidance of a 125-bps spread.
● The money raised is part of the $750 million bond-raise that will be listed on the GIFT City.
About HDFC Bank :
● Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
● MD & CEO : Sashidhar Jagdishan
● Tagline : We Understand Your World
State Bank of India Funds Appeals to Reserve Bank of India for Increase in Industry's Overseas
.
Investment Limit
● SBI Funds Management, India's largest fund house with assets under management (AUM) of
₹8.51-lakh crore, has approached the Reserve Bank of India (RBI) to increase the overseas
investment limit due to growing investor interest and India's comfortable forex position.
● Current Limit: According to current RBI rules, domestic mutual funds can invest up to $7 billion in
overseas stocks, with an additional $1 billion allowed in exchange-traded funds.
● Limit Set in 2007-08: The current investment limit for the industry was established in 2007-08 and
has not been revised despite significant economic growth and a substantial increase in investor
appetite over the years.
● Forex Reserve Growth: When the $7 billion limit was set, India's forex reserves were around
$300 billion.
● However, the forex reserves have more than doubled since then, reaching $600 billion.
Reserve Bank of India Directs National Payments Corporation of India to Assess Potential Third-Party
Application Provider Status for Paytm Parent Company; Unveils Supplementary Measures
● The Reserve Bank of India (RBI) has asked the National Payment Council of India (NPCI) to
examine the request of One97 Communications’ (OCL), which owns Paytm, to become a Third-
Party Application Provider (TPAP) for continued Unified Payments Interface operation of the
Paytm application.
● Importance of TPAP Approval : A TPAP approval is mandatory to provide UPI-based payment
transactions to customers.
● Currently, all UPI transactions on the Paytm app are being routed through Paytm Payments Bank
(PPBL), an associate company of OCL, which is registered as TPAP.
● RBI Directive on PPBL Operations : As the RBI has asked the PPBL to shut its operations by
March 15, 2024, there will be no TPAP registration for the Paytm app to be able to provide UPI
payment services.
● Definition and Role of TPAP : A Third-Party Application Provider is an entity that provides the UPI
compliant app(s) to the end-user customers to facilitate UPI-based payment transactions.
● These applications could be mobile wallets, merchant apps, or any other platform that utilises
UPI for payments.
● Current NPCI-Approved TPAPs : Currently, there are 22 NPCI-approved 3rd party Unified
Payments Interface (UPI) apps that can be used to send and receive money from other UPI
users by using UPI IDs.
.
Reserve Bank of India Permits Authorized Fintech Entities to Issue Prepaid Wallets and Cards for
Public Transport Systems
● The Reserve Bank of India (RBI) has allowed banks and non-banks to issue prepaid payment
instruments (PPIs) specifically for public transit services, including metro, buses, rail, waterways,
tolls, and parking.
● Amendment of Guidelines: The regulator has amended the guidelines for PPIs for mass transit
systems (MTS), stating that such PPIs can be issued without the need for a "know your
customer" (KYC) verification of the holder.
● Scope of Usage: These PPIs, known as PPI-MTS, can be used across various modes of public
transport immediately, including metro, buses, rail, waterways, tolls, and parking.
● Account Limitations: While these PPI accounts may be reloadable, the outstanding amount
cannot exceed ₹3,000 at any given time.
● Additionally, no cash withdrawal, refund, or funds transfer will be permitted.
● Validity and Regulation: The amended guidelines specify that these PPIs will have perpetual
validity.
● Definition of PPIs: PPIs are instruments that facilitate various transactions such as purchases of
goods and services, financial services, and remittance facilities against the stored value in them.
RBI Issues 2024 Master Direction on Filing Supervisory Returns
● The Reserve Bank of India (RBI) has consolidated all relevant instructions regarding Supervisory
Returns into a single Master Direction.
● Objective : To create a unified reference for all Supervisory Returns and to streamline the
timelines for their filing.
● Legal Authority:The issuance of this Master Direction is in exercise of powers conferred under
various sections of the Banking Regulation Act, 1949, as well as other relevant banking and
financial regulations.
● Legal Basis:This action is taken under sub section (2) of section 27 and section 35A of the
Banking Regulation Act, 1949, among other legal provisions.
● Applicability : These Directions shall apply to the following entities:
➢ All Commercial Banks excluding Regional Rural Banks. Commercial Banks include Public Sector
Banks (PSBs), Private Sector Banks (PVBs), Small Finance Banks (SFBs), Payment Banks
(PBs), Local Area Banks (LABs) and Foreign Banks (FBs).
➢ All Primary (Urban) Co-operative Banks.
.
➢ Select All India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NABFID).
➢ All Non-Banking Financial Companies [excluding Housing Finance Companies (HFCs)] and all
Asset Reconstruction Companies (ARCs).
Timelines for filing of Returns :
Periodicity Reference Date Timeline for Return

Submission
Weekly Friday of the week On or before Wednesday

of the following week
Fortnightly 15th and Last day (28th/ 29th/ 30th/ Within 7 days from the
31st) of the respective month Reference Date
Monthly Last day (28th/ 29th/ 30th/ 31st) of a Within 15 days from the
respective month Reference Date
Quarterly Last day of the Calendar Quarter Within 21 days from the
(i.e., March 31st, June 30th, Reference Date
September 30th, and December
31st)
Half yearly March 31st, and September 30th Within 21 days from the
Reference Date
Yearly March 31st Within 21 days from the

Reference Date
Note:
1) All audited returns, wherever applicable, shall be filed within 5 working days
from the date of signing of the Auditor’s report in terms of section 134 of the
Companies Act, 2013 (solo/ group level as per applicability of the return), as
applicable.
2) All ad-hoc returns/ data must be submitted within the timelines as indicated
in the communication issued by the RBI.
.
Pension Fund Regulatory and Development Authority Introduces Amendments to Retirement Adviser
(RA) Regulations to Enhance Good Governance and Simplify Compliance
● The Pension Fund Regulatory and Development Authority (PFRDA) has issued amendments to
the Retirement Adviser (RA) Regulations, 2023.
● Aim : To simplify eligibility criteria and registration processes, streamline timelines, and eliminate
the requirement of security deposits to promote Ease of Doing Business.
Key Amendments:
● Expansion of Eligibility: Non-individual applicants regulated by other financial regulators are now
eligible to apply.
● Removal of Security Deposit: The necessity of submitting security deposits has been eliminated.
● Timely Disposal: Applications are to be processed and disposed of within 30 days of submission.
● These amendments are in accordance with the directives outlined in the Union Budget 2023-24
to review regulations, reduce compliance costs, and enhance the Ease of Doing Business
environment.
RBI Levies Penalties Totaling Nearly Rs 3 Crore on SBI, Canara Bank, and City Union Bank
● The Reserve Bank of India (RBI) has imposed penalties totalling nearly Rs 3 crore on State Bank
of India (SBI), Canara Bank, City Union Bank (CUB), and Ocean Capital Market Limited for
various violations of regulatory norms.
● In each case, the RBI stated that the penalties are based on the deficiencies in regulatory
compliance and are not intended to pronounce upon the validity of any transaction or agreement
entered into by the entities with their customers.
Penalty Amounts:
● SBI: Penalty of Rs 2 crore.
● City Union Bank: Penalty of Rs 66 lakh.
● Canara Bank: Penalty of Rs 32.30 lakh.
● Ocean Capital Market Ltd: Penalty of Rs 16 lakh.
RBI Promotes Financial Literacy for Securing Individuals' Financial Future
.
● The Reserve Bank of India (RBI) has been propagating financial literacy in various forms,
recognizing its crucial role in securing individuals' financial future.
● By promoting financial literacy, RBI aims to empower people with knowledge of basic financial
concepts and enable them to make well-informed decisions, understand the importance of
saving and investing, and navigate the digital financial landscape with confidence.
● Eligibility Criteria:The competition is open to all postgraduate students (excluding doctoral and
postdoctoral students) currently enrolled in recognized educational institutions.
● Submission Requirements:Participants are required to submit an ideation paper on the subject
‘Money Matters for Young Adults: Rethinking Outreach Strategies’.
● The RBI's Public Awareness Campaign 'RBI Kehta Hai' plays a significant role in educating the
public about banking facilities and services. It focuses on informing individuals about their rights
and responsibilities among other relevant topics.
AWARDS AND HONOUR

Names of ‘Indira’ and ‘Nargis’ Dropped From National Film Awards
● The ‘Indira Gandhi Award for Best Debut Film of a Director’ and the ‘Nargis Dutt Award for Best
Feature Film on National Integration’, which are part of the National Film Awards, have been
renamed on the recommendation of the Committee for Rationalisation of Film Awards.
● The committee recommended that the ‘Indira Gandhi Award for Best Debut Film of a Director’ be
renamed as ‘Best Debut Film of a Director’, and the award money be increased to Rs 3 lakh.
● The committee recommended that it be clubbed with ‘Best Film on Social Issues and Best Film on
Environment Conservation/Preservation’.
● The award amount has been increased to Rs 2 lakh each to the director and producer.
● The Dadasaheb Phalke Award has increased from Rs 10 lakh to Rs 15 lakh.
69th Hyundai Filmfare Awards 2024 with Gujarat Tourism
● The 69th Hyundai Filmfare Awards 2024 was held in Gujarat in partnership with Gujarat Tourism.
● The awards honour the art of movie-making, acting, dialogue writing and music.
● It is the biggest award show in the Hindi film industry.
List Of Winners
● Best Film (Popular)- 12th Fail
● Best Film (Critics)- Joram
● Best Director- Vidhu Vinod Chopra (12th Fail)
.
● Best Actor In A Leading Role- Ranbir Kapoor (Animal)

● Best Actor (Critics)- Vikrant Massey (12th Fail)
● Best Actor In A Leading Role (Female)- Alia Bhatt (Rocky Aur Rani Kii Prem Kahaani)
● Best Actress Critics- Shefali Shah (Three Of Us), Rani Mukerji (Mrs Chaterjee Vs Norway)
● Best Actor In A Supporting Role (Male)- Vicky Kaushal (Dunki)
● Best Actress In A Supporting Role- Shabana Azmi (Rocky Aur Rani Kii Prem Kahaani)
About the Filmfare awards
● The Filmfare Awards are annual awards that honour artistic and technical excellence in the Hindi-
language film industry of India.
● The Filmfare ceremony is one of the most famous film events in India.
● The Filmfare Awards, introduced in 1954, has been a symbol of excellence in the film domain.
● The film "Black" (2005) holds the record for winning the maximum number of Filmfare awards in a
single year, securing 11 awards across various categories.
At the IIT Madras CSR Summit, REC was given the "Innovative Technology Development Award" for
their 2 MW rooftop solar plant.
● REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a
leading NBFC, has been honoured with the 'Innovative Technology Development Award' at the
'Building India 2047: Technology for Better Tomorrow', an IIT Madras Corporate Social
Responsibility Summit.
● The award has been conferred in recognition of REC's CSR initiative of installation of 2 MW rooftop
solar plant at IIT Madras.
● REC Limited has been recognized for its CSR activities with several prestigious awards, including
the Global CSR Leadership Awards in 2023 and the PSE Excellence Award for CSR in 2023.
Shankar Mahadevan and Zakir Hussain Bag Best Global Music Album Grammy Awards for 'This
Moment'
• Prominent Indian musicians Shankar Mahadevan and Zakir Hussain's fusion band Shakti bagged
the prestigious Grammy award.
• They clinched the award in the Best Global Music Album category for their latest album This
Moment.
.
• Meanwhile, Zakir Hussain also bagged the Grammy in the Best Global Music Performance
category for his contribution to Pashto alongside Bela Fleck and Edgar Meyer, featuring Rakesh
Chaurasia.
• The 66th Annual Grammy Awards 2024 are being held at Crypto.com Arena in Los Angeles
REC was awarded the Best Corporate Green Bond at The Asset Triple A Awards for Sustainable
Finance 2024.
leading NBFC, has been bestowed with the prestigious Best Green Bond - Corporate Award at
The Asset Triple A Awards for Sustainable Finance 2024.
• REC received the award for issuance of $750 million USD Green Bonds in April 2023 which was
also the first USD Green Bond issuance from India post India’s assumption of G20 Presidency
and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer.
Prof Aditi Sen De becomes the first woman scientist to win the G D Birla Award.
● Prof Aditi Sen De becomes the first woman scientist to win the G D Birla Award.
● In a ground-breaking moment for Indian science, Prof. Aditi Sen De has been awarded the
prestigious G. D. Birla Award for Scientific Research for the year 2023.
● The award, established in 1991, recognises exceptional scientific research conducted by Indian
scientists below the age of 50.
● The G. D. Birla Award, carrying a cash prize of Rs 5 lakhs, is a testament to Prof. Aditi Sen De's
exceptional contributions to the scientific community.
Shashi Tharoor conferred France’s highest civilian honour

● Shashi Tharoor has been given France’s highest civilian honour.
● The highest civilian honour bestowed by France, the Chevalier de la Legion d'Honneur France, was
given to Shashi Tharoor.
● He was awarded the honour in August 2022, but a formal conferring took place on 20 February
2024.
● He is the current Chairman of the Standing Committee on Chemicals and Fertilizers.
● He was awarded by the World Economic Forum as "Global Leader of Tomorrow".
Indira Gandhi, Nargis Dutt's names dropped from National Film Awards categories
● The Ministry of Information & Broadcasting (I&B) has dropped the names of former Prime
.
Minister Indira Gandhi and late actor Nargis Dutt from the National Film Awards.
● The ‘Indira Gandhi Award for Best Debut Film of a director’ will now be simply called ‘Best Debut
Film of a Director’.
● Indira’s name became associated with the award during the 28th National Film Awards in 1980.
● Moreover, the ‘Nargis Dutt Award for Best Feature Film on National Integration’ has become the
‘Best Feature Film Promoting National, Social and Environmental Values’.
● The awards were first presented in 1954 by the Government of India with an aim “to honour films
made across India, on a national scale, to encourage the furthering of Indian art and culture”.

Jay Shah Reappointed as Chairman of the Asian Cricket Council for 3rd Consecutive Year by the Board
of Control for Cricket in India
• The Board of Control for Cricket in India (BCCI) secretary Jay Shah was appointed as president
of the Asian Cricket Council (ACC) for a third consecutive term.
• His extension for another year was unanimously approved at the ACC Annual General Meeting
(AGM) in Bali, as he was in the midst of the second year of his second two-year term as the ACC
Chief.
About ACC :
• Headquarters : Colombo, Sri Lanka.
• Asian Cricket Council is a cricket organisation that currently consists of 25 member associations.
• It is subordinate to the International Cricket Council.
Sultan Ibrahim Officially Assumes Role as Malaysia's 17th King

• Sultan Ibrahim Iskandar, a billionaire from the southern state of Johor, was appointed Malaysia's
17th king.
• He succeeded Al-Sultan Abdullah Sultan Ahmad Shah, who would return to lead his home state
of Pahang at the end of his five-year tenure as king.
• In the presence of other royal families, PM Anwar Ibrahim, and cabinet members, Ibrahim
Iskandar took the oath of office at the National Palace in Kuala Lumpur and signed the document
of the proclamation of office in a ceremony.
About Malaysia :
.
• Prime Minister : Anwar Ibrahim

• Capital : Kuala Lumpur
• Currency : Malaysian ringgit
Bollywood actor Ranveer Singh becomes the brand ambassador and investor of boAt
• Leading audio wearable brand boAt has roped in actor Ranveer Singh as the brand ambassador,
and he has also invested an undisclosed amount in the company, becoming a key stakeholder in
the company.
Kavita Sahai becomes 1st woman Lt General to command Lucknow's Army medical college
• Lieutenant General Kavita Sahai became the first woman to be appointed as the Commandant of
Army Medical Corps Centre and College in Lucknow.
• Lieutenant General Sahai is an alumnus of Armed Forces Medical College in Pune and was
commissioned in the Army Medical Corps in 1986.
• She completed her Doctor of Medicine in Pathology in 1994 and completed her Diplomate of
National Board in Pathology in 1997 from AFMC in Pune.
Justice P S Dinesh Kumar Sworn in as Chief Justice of Karnataka High Court
• Justice P.S. Dinesh Kumar was appointed Chief Justice (CJ) of the Karnataka High Court (HC).
• He holds the position as an acting Chief Justice following the elevation of Justice P.B. Varale to the
Supreme Court.
• Justice Kumar's tenure is short-lived as he is set to retire on February 24, 2024
• The notification issued in this regard stated that, in the exercise of the power conferred by clause
(1) of Article 217 of the Constitution of India.
• The Supreme Court Collegium had recommended his name to the government on January 19.
Pawan Kumar Takes Charge as Chief Adviser (Cost) at Ministry of Finance's Department of
Expenditure
• Shri Pawan Kumar, ICoAS (Indian Cost Accounts Service), has assumed the role of Chief Adviser
(Cost) following approval from the Appointments Committee of the Cabinet (ACC).
• He has been appointed to the position of Chief Adviser (Cost) at Level-17, which is an apex level
position within the Department of Expenditure, Ministry of Finance.
.
JMM's Champai Soren takes oath as Jharkhand CM
• Champai Soren, a senior leader of the Jharkhand Mukti Morcha (JMM), took oath as the seventh
chief minister of Jharkhand, succeeding party chairperson Hemant Soren, who was arrested by the
Enforcement Directorate (ED).
• This was after Jharkhand governor CP Radhakrishnan, in a late-night development, invited the
loyalist of JMM leader Hemant Soren to Raj Bhavan to form the government.
• Champai Soren has also been asked to demonstrate his majority in a floor test, to be held within
the next 10 days.
About Jharkhand:
• Governor: C. P. Radhakrishnan
• Chief minister: Champai Soren
• Capital: Ranchi
• National Park : Betla National Park, Palamu Tiger Reserve
• Wildlife Sanctuaries: Udhwa Wildlife Sanctuary, Parasnath Wildlife Sanctuary, Palkot Wildlife
Sanctuary, Dalma Wildlife Sanctuary, Gautam Budha Wildlife Sanctuary, Mahuadanr Wildlife
Sanctuary
VICE ADMIRAL LOCHAN SINGH PATHANIA ASSUMES CHARGE

AS CHIEF HYDROGRAPHER TO THE GOVT. OF INDIA
• Vice Admiral Lochan Singh Pathania assumed charge as the Chief Hydrographer to the Govt. of
India on 01 Feb 24.
• Commissioned in the Executive branch of the Indian Navy in 1990, he is a Hydrography Specialist.
• The Flag Officer has commanded IN Ships Darshak and Sandhayak.
• During his career spanning more than three decades he carried out hydrographic surveys across
the entire stretch of the country and in IOR including challenging task of data collection for IMBL
arbitration and for the production of new chart in Sundarbans delta.
Government appoints Members of the 16th Finance Commission
.
• The government has appointed four members of the Sixteenth Finance Commission, with the
approval of the President of India.
• Former Secretary Ajay Narayan Jha, former Special Secretary, Expenditure Annie George
Mathew, Executive Director, Artha Global Dr Niranjan Rajadhyaksha have been appointed as
full-time members.
• Group Chief Economic Advisor of State Bank of India, Dr. Soumya Kanti Ghosh has been
appointed as part-time member.
Union Sports Ministry issues strict warning to suspended WFI president Sanjay Singh
• The Union Sports Ministry has issued a strict warning to the suspended Wrestling Federation of
India (WFI) president Sanjay Singh, over the committee's claims regarding the recognition from
the government as well as absolutely baseless and mischievous claims of holding competitions.
• Sanjay had previously stated that the WFI will conduct the Senior National Wrestling
Championship 2023 at Pune, Maharashtra from January 29 to 31.
IRS Officer Narendra Kumar Yadav Named Brand Ambassador for Fit India Movement
• Indian Revenue Service (IRS) officer Narendra Kumar Yadav, Additional Director of Goods and
Service Tax (GST), has been appointed as the new brand ambassador of The Fit India movement,
a flagship initiative by the Government of India.
• He is one of the youngest Indian Revenue Service (IRS) officers.
• He became the first civil servant to be chosen as the brand ambassador of the Fit India Movement.
About FIT India Movement :
• FIT India Movement was launched on 29th August 2019 by Prime Minister Narendra Modi.
• The main aim of the mission is to bring about behavioural changes and move towards a more
physically active lifestyle.
• Its main aim is to spread awareness about fitness through focused campaigns.
National Payments Corporation of India Names Ajay Kumar Choudhary as Non-Executive Chairman of
Board
• The National Payments Corporation of India (NPCI) announced the appointment of Ajay Kumar
Choudhary as non-executive chairman of the Board and independent director for 3 years starting
February 8, 2024.
• Choudhary has replaced Biswamohan Mahapatra, who was appointed non-executive chairman in
2018.
About NPCI :
.
• Founded : 2008
• Headquarters : Mumbai, Maharashtra.
• Managing Director (MD) and Chief Executive Officer (CEO) : Dilip Asbe
• NPCI is an umbrella organisation handling retail payments and settlement systems in India.
Apurva Chandra Assumes Role as Health Secretary, Sanjay Jaju Takes Over as Information and
Broadcasting Secretary
• Information and Broadcasting Secretary Apurva Chandra has been appointed as the Secretary,
Department of Health & Family Welfare.
• Meanwhile, senior bureaucrat Sanjay Jaju has been appointed as the new Information and
Broadcasting Secretary, in place of Apurva Chandra.
• Sukhbir Singh Sandhu, a retired 1988-batch IAS officer from the Uttarakhand cadre, has been
appointed as the Secretary to the anti-corruption ombudsman Lokpal on a contract basis for one
year.
• Ashish Kumar Bhutani, a 1992-batch IAS officer from the Assam-Meghalaya cadre, is now the
Secretary of the Ministry of Cooperation.
Olzhas Bektenov Assumes Role as Kazakhstan's Prime Minister

• Kazakh President Kassym-Jomart Tokayev signed a decree appointing Olzhas Bektenov as the
new Prime Minister (PM) of Kazakhstan.
• Olzhas Bektenov, aged 43, succeeded Alikhan Smailov as the PM of Kazakhstan.
• Olzhas Bektenov is the youngest Prime Minister (PM) in the history of Kazakhstan.
About Kazakhstan :
• Capital : Astana
• Currency : Tenge
Tata Digital Names Naveen Tahilyani as CEO & MD after Pratik Pal Resigns
• Naveen Tahilyani has been appointed as the new Chief Executive Officer (CEO) and Managing
Director (MD) of Tata Sons' subsidiary Tata Digital.
• On February 19,2024 he assumed the new position.
• He will succeed Pratik Pal, who was instrumental in the launch of the company's super app, Tata
Neu.
.
Yemen Names Ahmed Awad bin Mubarak as New Prime Minister

• Yemen's Presidential Leadership Council appointed its foreign minister Ahmed Awad bin Mubarak
as the country's new prime minister.
• He replaced Maeen Abdulmalik Saeed, who was Yemen’s premier since 2018.
• Outgoing PM Maeen Abdulmalik Saeed will take on the role of an advisor to the Chairman of the
Presidential Leadership Council
• Ahmed Awad bin Mubarak has served as the former Yemeni ambassador to the United States
(US).
About Yemen :
• Capital : Sanaa
• Currency : Yemeni rial
LIC Mutual Fund Asset Management Appoints Ravi Kumar Jha as MD & CEO
• LIC Mutual Fund Asset Management announced the appointment of Ravi Kumar Jha as its
Management Director (MD) and Chief Executive Officer (CEO) .
• Jha, with a distinguished career and prior association with LIC, comes with a track record of over
30 years in handling diverse positions and he was serving as Executive Director - Corporate
Strategy till December 2023.
• His previous roles include Executive Director Corporate Strategy – LIC Mutual Fund Asset
Management and various positions at LIC of India.
Asian Development Bank Names Mio Oka as Country Director for India
• The Asian Development Bank (ADB) has appointed Mio Oka as its new Country Director for India,
succeeding Takeo Konishi, who has been promoted to the position of ADB Director General for
South Asia at the Manila headquarters.
• Responsibilities of the Country Director : Mio Oka will be responsible for steering ADB operations
in India and nurturing relationships with the government and other development partners in the
country.
• Oka will lead the implementation of ADB's country partnership strategy for India spanning from
2023 to 2027.
Vivek Kumar Gupta Assumes Role as Managing Director of National High-Speed Rail Corporation
Limited
.
• Vivek Kumar Gupta, an officer of the Indian Railway Service of Engineers (IRSE) 1988 batch,
assumed the position of Managing Director at the National High-Speed Rail Corporation Ltd
(NHSRCL) .
• He succeeds Shri Rajendra Prasad who has served as MD of NHSRCL since July 2022.
• Gupta, with an illustrious career, has held various senior positions in both the Central and Western
Railways. His responsibilities included serving as Chief Administrative Officer (Construction), Chief
Track Engineer, Chief Bridge Engineer, and Divisional Railway Manager (DRM).
About NHSRCL :
• Headquarters : Delhi
• It was incorporated to manage the High-Speed Rail Corridor in India.
• It is a wholly-owned subsidiary of the Indian Railways, Ministry of Railways, Government of India.
Ranjeet Kumar Agarwal was Elected as President and Charanjot Singh Nanda as Vice President of the
Institute of Chartered Accountants of India
● The chartered accountants' apex body Council of the Institute of Chartered Accountants of India
(ICAI) announced that Ranjeet Kumar Agarwal and Charanjot Singh Nanda have been elected as
President and Vice President of the institute, respectively.
● Both have been elected by the institute's central council for the 2024-25 term.
About ICAI :
● The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of
Parliament under the Chartered Accountants Act, 1949 for the regulation and development of the
profession of Chartered Accountancy in India.
● The Institute, functions under the administrative supervision of the Ministry of Corporate Affairs,
● With over 8.5 lakh students and around 4 lakh members, ICAI is the largest professional
accountancy body in the world, with a strong tradition of service to the nation.
● The affairs of the ICAI are managed by a Council by the provisions of the Chartered Accountants
Act, 1949 and the Chartered Accountants Regulations, 1988.
● The Council consists of 40 members of whom 32 are elected by the Chartered Accountants and
.
the remaining 8 are nominated by the Central Government generally representing the
Comptroller and Auditor General of India, Ministry of Corporate Affairs, Ministry of Finance,
Securities and Exchange Board of India and other stakeholders.
Mr. Sanjay Kumar Jain Takes Charge as Chairman and Managing Director of Indian Railway Catering
and Tourism Corporation Limited
● Mr. Sanjay Kumar Jain, an Indian Railway Traffic Services (IRTS) Officer of the 1990 batch has
taken over the charge of Chairman & Managing Director of Indian Railway Catering and Tourism
Corporation Ltd (IRCTC).
About IRCTC :
● Founded : 27 September 1999
● IRCTC is an Indian public sector undertaking that provides ticketing, catering, and tourism
services for the state-owned Indian Railways.
● It was established by the Government of India and operated under the administrative control of
the Ministry of Railways.
Virendra Bansal Assumes Role as Managing Director & Chief Executive Officer of SBI Capital Markets
● Virendra Bansal has been appointed as the new Managing Director and chief Executive Officer of
SBI Capital Markets (SBICAPS), the wholly-owned subsidiary and investment banking arm of
State Bank of India (SBI).
● He replaces Rajay Kumar Sinha, who has been appointed as the Whole Time Member (Finance
and Investment) of the Insurance Regulatory and Development Authority of India (IRDAI) for 3
years in January 2024.
● Prior to his appointment as SBICAPS’ chief, Bansal was the Country Head for SBI’s US
Operations, which includes its offices in New York, Chicago, Los Angeles, Sao Paulo and
Washington DC.
About SBI Capital Markets :
● SBI Capital Markets (SBICAPS) is a wholly-owned investment banking subsidiary of State Bank
of India (SBI)
Ex Finnish Prime Minister Alexander Stubb Becomes Finland's 13th President
● Former Prime Minister of Finland Alexander Stubb became the 13th President of Finland.
.
● Stubb received 51.7% of the vote while his Green Party rival, former Foreign Minister Pekka
Haavisto, received 48.4%.
● On 1 March 2024 Mr Stubb will officially assume office, replacing Sauli Niinisto.
Note :
● This is the first election after Finland joined the North Atlantic Treaty Organization (NATO)
military alliance.
● In April 2023, Finland officially became the 31st member of the Washington-led alliance.
● The head of Finland is in charge of foreign and security affairs and is the commander-in-chief of
the country's armed forces.
About Finland :
● Prime Minister : Petteri Orpo
● Capital : Helsinki
● Currency : Euro
SBM Bank India appoints veteran banker Ashish Vijayakar as Managing Director & Chief Executive
Officer
● SBM Bank India announced the appointment of Ashish Vijayakar as the Managing Director &
Chief Executive Officer (MD & CEO) of the Bank for 3 years.
● This appointment has been made as per the approval accorded by the Reserve Bank of India
(RBI).
● He Succeeds Sidharth Rath, who resigned from the post of MD & CEO of SBM Bank India in
November 2023.
About SBM Bank India :
● Chairman : Sattar Hajee Abdoula
● SBM Bank India is the first bank to receive a universal banking licence from the Reserve Bank of
India to set up and operate as a scheduled commercial bank under the wholly-owned subsidiary
(WOS) mode offering banking services in India.
Pradeep Kumar Sinha Appointed as Non-Executive Part-time Chairman of ICICI Bank
● Pradeep Kumar Sinha is set to assume the role of Non-Executive Part-time Chairman of ICICI
Bank following the conclusion of G. C. Chaturvedi's term.
.
● Sinha's appointment will take effect from July 1, 2024, or upon approval from the Reserve Bank
of India (RBI), whichever occurs later, ensuring a smooth transition in leadership.
● He will serve in this capacity until February 16, 2029, filling the vacancy created by the retirement
of Mr. Chaturvedi, highlighting the long-term commitment to leadership stability.
About ICICI Bank :
Government appoints new chairman for Bank of India, Indian Overseas and UCO Bank
● The Appointments Committee of the Cabinet (ACC) has made several key appointments. These
appointments have been announced by the Department of Personnel & Training in accordance
with the decisions made by the ACC.
Appointment of M R Kumar as Chairman of Bank of India (BOI):

● The Appointments Committee of the Cabinet (ACC) has appointed M R Kumar, former LIC
Chairman, as the part-time non-official Director and non-executive Chairman of Bank of India
(BOI).
● M R Kumar has been appointed as the Chairman of BOI for a term of three years.
Appointment of Srinivasan Sridhar as Chairman of Indian Overseas Bank (IOB):

● The ACC has appointed Srinivasan Sridhar as the part-time non-official Director and non-
executive Chairman on the Board of Indian Overseas Bank (IOB).
● Sridhar has been appointed for a term of three years, with the condition that he resigns from the
Board of Bank of Baroda.
Appointment of Aravamudan Krishna Kumar as Chairman of UCO Bank:

● The ACC has appointed Aravamudan Krishna Kumar as the part-time non-official Director and
non-executive Chairman on the Board of UCO Bank.
● Kumar has been appointed for a term of three years, subject to his resignation from the Board of
Suraksha Asset Reconstruction Limited, as per the order issued by the Department of Personnel
& Training.
Lieutenant General Upendra Dwivedi Assumes Role as Vice Chief of Army Staff, Succeeding
.
Lieutenant General MV Suchindra Kumar

● Lieutenant General Upendra Dwivedi has assumed the appointment of the Vice Chief of the
Army Staff.
● On assumption of appointment, Lieutenant General Upendra Dwivedi laid wreath at the National
War Memorial and was accorded Guard of Honour at the South Block Lawns.
● He took over as the Vice Chief of the Army Staff from Lieutenant General MV Suchindra Kumar,
who now has been appointed as the General Officer Commanding-in-Chief, Northern Command.
● Prior to taking over as the Vice Chief of the Army Staff, Lieutenant General Upendra Dwivedi was
appointed General Officer Commanding-in-Chief, Northern Command from 2022-2024 in an
extremely challenging operational environment.
India-born Economist Geeta Batra Appointed as World Bank's Global Environment Facility’s First
Female Director
● Geeta Batra, a distinguished economist born in India (New Delhi), has been appointed as the
Director of the Independent Evaluation Office of the World Bank's Global Environment Facility
(GEF).
● She is the first woman from a developing country to hold this position.
● Her nomination for the role received unanimous approval during the 66th GEF Council Meeting in
Washington on February 9, 2024.
● Batra currently serves as the Chief Evaluator & Deputy Director for Evaluation at the GEF's
Independent Evaluation Office, affiliated with the World Bank.
About GEF :
● The GEF has been a significant player in the environmental sector since the Rio Earth Summit in
1992, providing substantial grants and co-financing for projects addressing global environmental
concerns.
● It is a multilateral environmental fund that provides grants and blended finance for projects
related to biodiversity, climate change, international waters, land degradation, persistent organic
pollutants (POPs), mercury, sustainable forest management, food security, and sustainable cities
in developing countries.
Maryam Nawaz Makes History as the First Female Chief Minister of a Pakistani Province
● Maryam Nawaz, a senior leader of the Pakistan Muslim League-Nawaz (PML-N) party and
daughter of three-time former Prime Minister of Pakistan Nawaz Sharif, became the first woman
Chief Minister of Punjab province.
.
● She won the chief ministerial elections amidst a walkout by lawmakers of former prime minister
Imran Khan's party-backed Sunni Ittehad Council (SIC).
● Maryam Nawaz defeated Rana Aftab of the PTI-backed SIC to win the chief ministerial elections
for the politically crucial Punjab province, home to 120 million people.
● She won after receiving 220 votes in the 371-member Punjab Assembly.
About Punjab :
● Governor : Banwarilal Purohit
● National Park : Abohar National Park, Mahendra Zoological Park, Jhajjar Bachauli National Park
Judge Nawaf Salam of Lebanon Elected President of the International Court of Justice for 3-Year Term
● Judge Nawaf Salam (Lebanon) was elected President of the International Court of Justice by his
peers, for a term of 3 years.
● Before joining the Court, President Salam was Ambassador and Permanent Representative of
Lebanon to the United Nations in New York from July 2007 to December 2017.
About ICJ :
● The International Court of Justice (ICJ) is the principal judicial organ of the United Nations.
● It was established by the United Nations Charter in June 1945 and began its activities in April
1946.
● The Court is composed of 15 judges elected for a nine-year term by the General Assembly and
the Security Council of the United Nation.
● The seat of the Court is at the Peace Palace in The Hague (Netherlands).
● The Court has a twofold role: first, to settle, in accordance with international law, legal disputes
submitted to it by States; and, second, to give advisory opinions on legal questions referred to it
by duly authorised United Nations organs and agencies of the system.
President Murmu appoints former SC judge Justice AM Khanwilkar as Chairperson of Lokpal
● Former Supreme Court judge A M Khanwilkar was appointed as the chairperson of the anti-
corruption ombudsman Lokpal nearly 2 years after the post fell vacant.
● The Lokpal has been working without its regular chief after Justice Pinaki Chandra Ghose
completed his term on May 27, 2022.
● Justice Pradip Kumar Mohanty, a judicial member of the Lokpal, is currently the acting
chairperson.
About Lokpal :
.
● The Lokpal was established under the Lokpal and Lokayuktas Act of 2013.
● Its primary task is to inquire and investigate allegations of corruption against public functionaries
covered under the Lokpal Act.
● According to a notification from Rashtrapati Bhawan, several appointments have been made to
the Lokpal:
● Judicial Members: Justice Lingappa Narayana Swamy, Justice Sanjay Yadav, and Justice Ritu
Raj Awasthi.
● Non-Judicial Members: Sushil Chandra, Pankaj Kumar, and Ajay Tirkey.
● While Sushil Chandra is a former chief election commissioner, Awasthi is currently the
chairperson of the law commission.
● Appointment Process : The chairperson and members of the Lokpal are appointed by the
President after obtaining the recommendations of a Selection Committee having the prime
minister as its chairperson.
● Composition of Lokpal : Apart from a chairperson, the Lokpal can have 8 members -4 judicial and
4 non-judicial.
MOUS AND AGREEMENT

NTPC and Oil India Limited’s Numaligarh Refinery Limited to build strategic partnership in Green
Chemicals and Green Projects
• NTPC Limited, India’s largest integrated power utility, has signed a non-binding MoU with
Numaligarh Refinery Limited (NRL), for partnership opportunities in the proposed bamboo-based
Bio-Refinery at NTPC Bongaigaon and other green projects.
• NRL is a subsidiary of Oil India Limited, which is engaged in the business of refining and
marketing of petroleum products.
• Through this MoU, the two Central Public Sector Enterprises intend to enhance their footprint in
green chemicals and foray into sustainable solutions to advance the efforts towards achieving the
nation’s Net-Zero targets and be partners in the development of the North Eastern Region.
NHAI Collaborates with Geological Survey of India for Geotechnical Consultancy Services to Build
Robust National Highway Network
• National Highways network, NHAI has signed a Memorandum of Understanding (MoU) with the
Geological Survey of India (GSI) to provide services to NHAI for site specific geotechnical
.
consultancy and assist in vetting of Detailed Project Reports (DPR) from geotechnical point of
view.
• The MoU was signed in presence of NHAI Chairman Shri Santosh Kumar Yadav and Dr. Saibal
Ghosh, Deputy Director General, Geological Survey of India along with other senior officials from
NHAI and GSI.
• In addition, GSI will also undertake detailed analysis of DPRs prepared by NHAI consultants.
Wistron Signs MoU With Karnataka Government For Laptop Making Unit
• The government of Karnataka and Wistron (ICT Service Management Solutions) signed a
memorandum of understanding (MoU) to set up a laptop manufacturing plant.
• Under the MoU, the Taiwan-based company would invest ₹1,500 crore which is likely to create
around 3,000 employment opportunities.
• The global company known for technology service-providing products has planned to commence
works related to setting up the plant in July 2024 and to start manufacturing laptops by January
2026.
GRSE & Rolls-Royce ink pact for production of marine engines to power ships
• As a part of the ‘Make in India’ initiative, Kolkata-based PSU Garden Reach Shipbuilders and
Engineers (GRSE) and UK’s Rolls-Royce have signed a ‘frame and individual licence’ agreement
for the production of the MTU IMO Tier II compliant Series 4000 marine engines to power
government ships.
• As part of the agreement, the engines will be manufactured at the Diesel Engine Plant of GRSE in
Ranchi.
• The move will help the state-owned shipyard in making fast patrol vessels, interceptor boats and
fast attack craft projects of the Indian Navy and the Indian Coast Guard.
Philippines and Vietnam agree to expand cooperation in the South China Sea
• The Philippines and Vietnam signed agreements to prevent incidents in the South China Sea and
broaden cooperation between their coast guards in a growing alliance that will likely be frowned
upon by China, which claims virtually the entire waters.
• The agreement focuses on enhancing information sharing and training exchanges between the
Vietnamese and Philippine militaries forged.
About Philippines
• Capital: Manila
.
• Official languages: Filipino, English

• Currency: Philippine peso
About Vietnam
• Capital: Hanoi
• Currency: Vietnamese dong
• Prime minister: Pham Minh Chinh
• President: Vo Van Thuong
Karnataka Government Announces 'Digital Detox' Initiative To Encourage Mindful Use Of Social Media
• The Karnataka government announced to launch a 'Digital Detox' initiative in partnership with the
All India Game Developers Forum (AIGDF).
• The initiative aims to raise awareness about the dangers of spending excessive time in the digital
world.
• Digital Detox initiative encourages people to cut back on using digital devices like smartphones,
computers, tablets, and social media platforms through structured programs or campaigns.
Shri Ajay Bhatt secures key defence agreement during visit to Riyadh.
• Minister of State for Defence, Ajay Bhatt, is currently on a five-day visit to Riyadh from February
4th for the World Defence Show 2024.
• The visit has yielded a significant milestone with the signing of a Memorandum of Understanding
between Munitions India Limited and a local partner, underscoring the deepening collaboration
between India and Saudi Arabia in the field of defence.
A MoU has been signed by IREDA and IIT Bhubaneswar regarding Clean Energy Innovation.
• Indian Renewable Energy Development Agency Ltd. (IREDA) has taken a significant step towards
fostering innovation and research in the renewable energy sector, by signing a Memorandum of
Understanding (MoU) with the Indian Institute of Technology Bhubaneswar.
• The MoU, inked at the 100 Cube Start-up Conclave held at IIT Bhubaneswar, aims to support
collaborative efforts in innovation and research initiatives, technology transfer, and nurturing the
start-up ecosystem.
A Joint Venture Agreement has been signed between ONGC and NTPC Green Energy Limited to
concentrate on offshore wind energy projects.
• ONGC and NTPC Green Energy Limited (NGEL) have signed a Joint Venture Agreement (JVA) to
focus on offshore wind energy projects.
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• The agreement signed at India Energy Week in Goa, was witnessed by Minister of Petroleum and
Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri.
• This collaboration aims to lead renewable energy initiatives, both domestically and internationally.
About ONGC
• Headquarters: Vasant Kunj, New Delhi
• Founded: 14 August 1956
The Warehousing Development Regulatory Authority and Punjab & Sind Bank have signed an MOU to
provide farmers with loans at low-interest rates
• To facilitate farmers and traders in providing low-interest rate loans, the Warehousing
Development Regulatory Authority (WDRA) signed a Memorandum of Understanding (MoU) with
the Punjab & Sind Bank (PSB).
• MoU was exchanged by Shri T.K. Manoj Kumar, Chairperson, WDRA, Sh. Swarup Kumar Saha,
MD&CEO, PSB in the head office of PSB.
• Its second goal is to increase lethality at the terminal impact point.
C-DOT and IIT-K Collaborate on Optical Network Prototype
• C-DOT, the premier Telecom R&D centre of the Department of Telecommunications (DoT),
Government of India and Indian Institute of Technology, Kharagpur (IIT-K) signed an agreement
for ‘Developing Prototypes for 10-Gigabit-capable symmetric Passive Optical Network (i.e., XGS-
PON) Optical Line Terminal (OLT) and Optical Network Unit (ONU).
• The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of
Department of Telecommunications, Government of India.
AFMS and IIT Roorkee are working together to promote research that can enhance combat medical
support and patient care for serving personnel.
● A Memorandum of Understanding was signed between Armed Forces Medical Services and
Indian Institute of Technology Roorkee.
● The MoU was signed by Director General (Org & Pers) Lt Gen SK Singh on behalf of Director
General Armed Forces Medical Services and Director IIT Roorkee Prof Kamal Kishore Pant.
● The MoU aims towards promoting collaborative biomedical research, to aid in improving the
combat medical support and patient care of serving personnel.
● Under this MoU, Armed Forces Medical Services will be able to utilize the expertise of IIT
Roorkee in various fields like, the development of novel medical devices, robotics,
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nanotechnology, artificial intelligence and machine learning.

A contract worth Rs. 1,752 crore has been signed by MoD for 463 Stabilized Remote Control Guns for
the Indian Navy and Indian Coast Guard by Aatmanirbharta's team.
● The Ministry of Defence has signed a contract with Advanced Weapon Equipment India Ltd.
(AWEIL), Kanpur for the manufacturing & supply of a total of 463 indigenously manufactured
12.7 mm Stabilised Remote Control Guns (SRCG) for the Indian Navy & Indian Coast Guard at a
total cost of Rs. 1752.13 crores, with Indigenous Content (IC) of more than 85%.
● This acquisition will provide a further boost to the vision of "Aatmanirbharta in Defence".
● This contract will also open up a large avenue in defence manufacturing for over 125 Indian
Vendors and DPSUs for over a period of 5 years.
An agreement was signed between the Ministry of DoNER, North Eastern Council, and IIM Shillong to
continue operating the Dr. APJ Abdul Kalam Centre for Policy Research and Analysis.
● An MoU was signed between the NEC Shillong, IIM Shillong and the MDoNER for continuing the
operation of Dr. APJ Abdul Kalam Centre for Policy Research and Analysis deepening
engagement with IIM Shillong at the NEC Secretariat, Shillong and MDoNER joining through
weblink.
● Dr. APJ Abdul Kalam Centre for Policy Research and Analysis was created by a tripartite
agreement between IIM Shillong and the Ministry of Development of Northeastern Region
(MDoNER) and Northeastern Council signed on 15th October 2016.
● It aimed to emerge as a state-of-the-art centre to assist the states of North East India and the
implementing agencies to plan and executive the projects properly, promote innovations and
function as a repository of best practices in the region.
CIAL ties up with BPCL to set up green hydrogen plant at airport
● In a strategic move to strengthen its green energy initiatives, Cochin International Airport Ltd (CIAL)
has tied up with BPCL to set up a green hydrogen plant in the airport premises.
● The collaborative effort, combining technological prowess and infrastructure, will result in the world’s
first green hydrogen plant and fuelling station located within an airport setting.
● Green hydrogen, produced from water using renewable energy sources, is recognised as a future
fuel and aligns with zero-carbon energy strategies.G. Krishnakumar, CMD, BPCL.
TRIFED & ITC Sign MoU for Empowering Tribal Farmers in B2B Meet
● Union Minister for Tribal Affairs; Agriculture and Farmer Welfare, Shri Arjun Munda, presided over as
the Chief Guest at the Business-to-Business (B2B) Meet organized by the Ministry of Tribal Affairs
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as part of the ongoing Aadi Mahotsav, in New Delhi.

● During the event, a significant milestone was achieved with the signing of an MoU between the
Tribal Co-operative Marketing Development Federation of India (TRIFED) and corporate
powerhouse ITC, establishing a collaborative framework under the Pradhan Mantri Janjatiya Vikas
Mission (PMJVM) scheme.
● This initiative aims to leverage the strengths of both entities to empower tribal farmers and suppliers,
particularly in states where turmeric cultivation is prevalent, promising to uplift rural economies and
improve livelihoods.
India and Colombia signed a Memorandum of Understanding regarding the sharing of India's open-
sourced DPIs.
● India and Colombia signed a Memorandum of Understanding (MoU) on Cooperation in the field of
Sharing Successful Digital Solutions Implemented at Population Scale for Digital Transformation.
● It was signed between the Ministry of Electronics and Information Technology (MeitY) and the
Information Technologies and Communications of Colombia.
● The MoU intends to promote digital transformation (viz INDIA STACK) through capacity-building
programs, the exchange of best practices, the exchange of public officials and experts, the
development of pilot or demo solutions and the facilitation of private sector contacts to mutually
benefit the digital ecosystems of both countries.
About Colombia
● Capital: Bogotá
● Currency: Colombian Peso
● President: Gustavo Petro
NITI Aayog and the Government of Andhra Pradesh Promote Discussion on the Development of Inland
Fisheries at National Workshop in Visakhapatnam
● NITI Aayog in partnership with the Government of Andhra Pradesh, successfully organised a two-
day National Workshop on “Harnessing Potential of Fisheries in Inland States” in Visakhapatnam,
Andhra Pradesh.
● It is a collaborative effort aimed at maximising the potential of fisheries in India's inland states.
Uttar Pradesh government to collaborate with IITR for enhanced disaster management
● To enhance disaster management, the UP government will collaborate with IIT Roorkee.
● The MoU will be signed between both as part of a strategic move aimed at strengthening disaster
preparedness and mitigation efforts over the next five years.
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● To reduce the loss of life and take people to safe places before the disaster, an MoU will be signed
between the Relief Commissioner's Office and IIT Roorkee.
Union Minister Shri Parshottam Rupala will be present when the Department of Fisheries signs a
Memorandum of Understanding with Open Network for Digital Commerce.
● To strengthen the direct access to consumers or markets for fishermen and unlock the potential of
digital commerce in the field of Indian Fisheries, the Department of Fisheries (GoI) will be signing a
Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC).
● The MoU will be signed in the presence of Union Minister of Fisheries, Animal Husbandry and
Dairying, Shri Parshottam Rupala and Minister of State for Fisheries, Animal Husbandry and
Dairying, Dr. L Murugan at Krishi Bhawan, New Delhi.
Mahindra Finance partners with IBM to build a Super App for financial inclusion
● Mahindra & Mahindra Financial Services Limited and IBM announced their partnership to create a
“Super App” aiming to provide customers with a single digital financial services platform.
● The “super app” will enable the customers to access the different services of Mahindra Group’s
NBFC arm and have 24/7 digital access to them.
● IBM Consulting will support “human-centred design methodology” to elevate the super app
experience for its consumers, tracking actions of their lending journey.
● Raul Rebello, MD & CEO-Designate of Mahindra Finance.
Union Minister Shri Parshottam Rupala witnessed the Department of Fisheries and Open Network for
Digital Commerce sign a MOU in New Delhi.
● The Department of Fisheries signed a Memorandum of Understanding (MoU) with Open Network for
Digital Commerce (ONDC) in the presence of Union Minister of Fisheries, Animal Husbandry and
Dairying Shri Parshottam Rupala, Minister of State Dr. L Murugan, Secretary (Fisheries) Dr
Abhilaksh Likhi, Joint Secretary (Inland Fisheries), Shri Sagar Mehra, MD, ONDC Shri. T. Koshy and
other esteemed dignitaries at New Delhi.
● Shri Parshottam Rupala also released a booklet “From Catch to Commerce, Increasing Market
Access through Digital Transformation”.
● ONDC is a unique platform of e-marketing that will play a significant role in the fisheries sector by
connecting fishermen, fish farmers, FFPOs, self-help groups and other fishermen cooperatives in a
structured manner.
Agreement between the Indian Air Force and the Aeronautical Development Agency
● The Aeronautical Development Agency (ADA) has signed an MoU with the Indian Air Force (IAF) for
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the integration of futuristic Weapons and Sensors for LCA Tejas aircraft.
● The MoU was signed by Shri Prabhulla Chandran VK, Technology Director (Avionics and Weapon
Systems) of ADA and Air Vice Marshal KN Santosh VSM, Commandant, Software Development
Institute (SDI) of IAF.
● Aeronautical Development Agency (ADA) is a premier organization under the aegis of the
Department of Defence R&D with mandate to Design and Develop Tejas-LCA and its Variants.
To establish the largest green hydrogen manufacturing facility in India, NTPC Green Energy and
Andhra Pradesh Industrial Infrastructure Corporation signed a land lease deal.
● Power sector PSU and India’s largest integrated power company NTPC Limited has signed a Land
Lease Agreement to realize its green energy and green hydrogen objectives, thus also contributing
to the Government of India’s efforts towards energy transition.
● The agreement, signed between NTPC Green Energy Limited (NGEL) and Andhra Pradesh
Industrial Infrastructure Corporation (APIIC), is for the development of an “Integrated Green
Hydrogen Hub”.
● The hub will come up on 1,200 acres of land near Pudimadaka village of Atchutapuram Mandal in
Visakhapatnam, Andhra Pradesh.
● The Ministry of New and Renewable Energy is implementing the National Green Hydrogen Mission,
approved by the Union Cabinet, with an outlay of ₹ 19,744 crores.
● The overarching objective of the Mission is to make India the Global Hub for production, usage and
export of Green Hydrogen and its derivatives.
About NTPC
● NTPC is India’s largest Power Utility into the core business of power generation, with a total installed
capacity of 74 GW (including joint ventures and subsidiaries). As part of increasing its renewable
energy portfolio, a fully owned subsidiary “NTPC Green Energy Limited '' (NGEL) has been formed,
which will take up Renewable Energy Parks and Projects including business in the area of Green
Hydrogen, Energy Storage Technologies, and Round-the-Clock renewable energy power.
● NTPC Group has ambitious plans to attain 60 GW of renewable energy capacity by the year 2032.
● Currently, it has 3.4 GW of installed RE capacity and 22-plus GW under pipeline.
● NTPC is committed to supporting Andhra Pradesh’s and India’s decarbonisation goals.
Collaboration in the field of Archives is agreed upon between Oman and India.
● India and Oman have mutually agreed to cooperate in the field of Archives. A delegation of the
National Archives of India (NAI), visited the National Records and Archives Authority (NRAA) of
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Oman on February 21-22, aimed at exploring the areas of bilateral cooperation in the archival field.
● According to the Ministry of Culture, both countries have agreed on the need for formalising the
institution-to-institution cooperation.
● In this regard, the draft of an Executive Programme of Cooperation (EPC) has been finalised, which
would now be submitted for approval by the competent authorities of both parties and formally
signed in the near future.
The government of Goa and Power Finance Corporation come together to pioneer a subnational
Blended Finance Facility for Climate Action
● Power Finance Corporation (PFC), leading NBFC, power sector PSU and the largest renewable
energy financier in India, has signed a Memorandum of Understanding (MoU) to support the climate
ambitions of the state of Goa.
● The support extended would be under the Blended Finance Facility being set up by Government of
Goa in partnership with The World Bank.
● The Government of Goa is setting up the sub-national Blended Finance Facility in partnership with
the World Bank, aiming to foster low-carbon, climate-resilient development.
The National Industrial Corridor Development Program and IIT Delhi have signed a Memorandum of
Understanding to work together on evaluating location optimality utilizing the PM GatiShakti Portal.
● National Industrial Corridor Development Corporation Limited (NICDC) under the Department for
Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of
India and the Foundation for Innovation and Technology Transfer at the Indian Institute of
Technology, Delhi (FITT-IITD) signed a Memorandum of Understanding (MOU) at Vanijya Bhawan,
New Delhi with an objective to evaluate optimality of locations for development of Greenfield
Industrial Smart Cities in India leveraging the principles and framework of PM GatiShakti.
● Led by Shri Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and
Internal Trade (DPIIT), the collaboration marks an important move towards using advanced
technology and research to strengthen India's industrial infrastructure.
● This will also help both organisations leverage each other’s strengths in their respective domains.
The Ministry of Ayush inked an MoU with RIS.
● The Ministry of Ayush and Research and Information System for Developing Countries, (RIS) New
Delhi signed a Memorandum of Understanding (MoU) at New Delhi.
● This MoU will bring forth the overview of Ayush Service sector and will serve the continuation of
academic cooperation and collaboration with RIS (a Policy Research autonomous institute of the
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Ministry of External Affairs).

● Secretary Vaidya Rajesh Kotecha signed the MoU on behalf of the Ministry of Ayush, whereas
Director General Prof Sachin Chaturvedi was the signatory on behalf of RIS.
● Also the academic cooperation between Ministry of Ayush and RIS includes the continuance of the
Forum on Indian Traditional Medicine (FITM).
RANKING AND INDEX

Bangladesh Drops to 10th Most Corrupt Nation in Transparency International's 2023 Index
• Bangladesh has slipped by two positions in the Corruption Perceptions Index (CPI) 2023 of
Berlin-based Transparency International (TI) to become the 10th most corrupt country in the
world.
• In the last decade, this is the worst performance of Bangladesh.
• This was revealed by the executive director of Transparency International Bangladesh (TIB), at a
press conference in Dhaka.
• The findings placed Denmark on top of the list as the least corrupt country with a score of 90 out
of 100.
• Finland is in second place with 87 and New Zealand is third with a score of 85.
• Meanwhile, Somalia topped the list of corrupt countries with the lowest score of 11.
WHO Survey Determines Increased Cancer Burden Over Next 25 Years
• World Health Organization (WHO)’s cancer agency, the International Agency for Research on
Cancer (IARC), released the latest estimates of the global burden of cancer.
• WHO also published survey results from 115 countries, showing a majority of countries do not
adequately finance priority cancer and palliative care services, as part of universal health coverage
(UHC).
• The IARC estimates, based on the best sources of data available in countries in 2022, highlight the
growing burden of cancer.
India has been ranked at the 38th position out of 139 countries in the Logistics Performance Index
Report 2023: World Bank.
• According to the World Bank's 'Logistics Performance Index Report (2023): Connecting to
Compete 2023', India ranks 38 out of 139 countries.
• India’s rank has improved by six places from 44 in 2018 and sixteen places from 54 in 2014.
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• An Inter-Ministerial dedicated team comprising of Stakeholder Ministries/Departments has been

formed.
• These stakeholder Ministries/Departments focus on targeted action plans with interventions
needed to improve logistics performance across all six LPI parameters i.e. Customs, Infrastructure,
Ease of arranging shipments, Quality of logistics services, Tracking and Tracing, and Timeliness.
India is set to be the fastest-growing source of oil demand in the world through 2030, according to IEA
• India will become the largest source of global oil demand growth between now and 2030, while
growth in developed economies and China initially slows and then subsequently goes into reverse
in our outlook, the latest report ‘Indian Oil Market Outlook to 2030’ released at the second edition
of India Energy Week 2024 in Goa by International Energy Agency (IEA).
• It further added that India’s role in global oil markets is expected to expand substantially over the
remainder of the decade, fuelled by strong growth in its economy, population and demographics.
Mukesh Ambani Highest Placed Indian, No.2 Globally In Brand Guardianship Index 2024
• Mukesh Ambani has secured the top position among Indians and second globally in the Brand
Guardianship Index 2024.
• Mukesh Ambani with a score of 80.3 is ahead of Microsoft’s Satya Nadella, Sundar Pichai of
Google, Apple's Tim Cook, and Tesla's Elon Musk.
• Huateng Ma of China-based Tencent with a BGI score of 81.6 has secured the top position in the
ranking.
RIL tops the list of most valuable Indian companies
● With a market cap of Rs 15.6 trillion, Reliance Industries (RIL) topped the chart of the most valuable
Indian companies in 2023, for the third year in a row, closely followed by Tata Consultancy Services
(TCS).
● IT firm TCS came in second with a market cap of Rs 12.4 trillion, while HDFC Bank was third in the
pecking order with a market cap of Rs 11.3 trillion.
● The combined value of the top 10 companies remained unchanged from the year-ago period at `73.3
trillion, which is equal to 28% of India’s GDP, according to a report by Burgundy Private, Axis Bank’s
private banking business, and Hurun India.
● The list, a compilation of the 500 most valuable private companies in India, saw ICICI Bank in fourth
position with a market cap of `6.47 trillion, followed by Infosys (`5.71 trillion) in fifth.
● Others in the top 10 are Bharti Airtel, ITC, Larsen & Toubro, HCL Tech and Kotak Mahindra Bank.
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ISB tops Indian B-schools, ranks 31st globally in FT MBA Ranking

● The Indian School of Business (ISB) has outperformed its peers to become the top-ranked Indian
business school and 31st globally in the Financial Times (FT) Global MBA Ranking 2024.
● At the Asia level, the ranking of the school has gone up to number 5, up from the 6th spot last year.
● Second rank in India has been achieved by the Indian Institute of Management (IIM) Ahmedabad,
which is at the 41st rank globally, followed by IIM Bangalore at 47, the IIM Calcutta at 67, and IIM
Lucknow at 85, and the Xavier School of Management at the 99th rank.
● The University of Pennsylvania (Wharton), Insead, and Columbia Business School have been
named as the top three business schools globally.
● ISB is also ranked best in India in alumni network and career services; and ranked 8 and 19 globally
on these parameters, respectively.
India slips in world's most powerful passports ranking, France tops list
● India has slipped to the 85th spot on the Henley Passport Index.
● India had gone up to 80th position in January when the rankings for 2024 were unveiled.
● The Henley Passport Index is updated monthly.
● Six countries still jointly hold the top position in the 2024 Henley Passport Index, offering their
citizens visa-free access to a record-breaking number of destinations.
● The most powerful passports in the world now allow citizens of France, Germany, Italy, Spain,
Japan, and Singapore to travel 194 out of 227 destinations worldwide without requiring a visa.
● Four EU members have joined them at the top: Germany, Italy, Spain, and France.
● Pakistan remains at 106th position like 2023, while Bangladesh has slipped from 101st to 102nd.
● Henley Passport Index was launched in 2006. The index covers 199 passports and 227 travel
destinations.
● It is based on the data collected from the International Air Transport Association (IATA).
● The Index's scoring system was developed to give users a nuanced, practical, and reliable overview
of the power of their passport.
● Each passport is scored on the total number of destinations the holder can access visa-free.
IFFCO ranked first among top 300 cooperatives globally
● IFFCO, one of the leading fertiliser players in the country, has been ranked first among top 300
cooperatives in the world.
● Indian Farmers Fertiliser Cooperative Ltd (IFFCO) has again been ranked as top cooperative among
top 300 cooperatives in the world, sustaining its position from last year.
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● The ranking is based on the ratio of turnover over Gross Domestic Product (GDP) per capita.
● It relates to the turnover of the enterprise to the wealth of the country according to the 2023 edition
of the 12th Annual World Cooperative Monitor (WCM) report published by International Cooperative
Alliance (ICA).
● IFFCO has also improved its ranking to 72nd in overall turnover ranking from 97th position in last
financial year.
● The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative
and Social Enterprises (EURICSE) launched the 2021 edition of the World Cooperative Monitor
during an international webinar on January 25, 2024.
● The World Cooperative Monitor is a project designed to collect robust economic, organisational, and
social data about cooperatives worldwide
About ICA
● The International Cooperative Alliance (ICA) is the voice for cooperatives. worldwide.
● The International Cooperative Alliance is a non-profit international association established in 1895 to
advance the cooperative social enterprise model.
CURRENT AFFAIRS: SUMMITS AND CONFERENCE

The National Conference on APAAR: One Nation One Student ID Card was opened by Education
Minister Dharmendra Pradhan.
● The National Conference on APAAR: One Nation One Student ID Card was inaugurated in New
Delhi.
● It was inaugurated by Education Minister Dharmendra Pradhan.
● The Automated Permanent Academic Account Registry (APAAR) will be an ambitious and global
document for students in India.
● Till now 25 crore APAAR IDs have been created.
About Automated Permanent Academic Account Registry
● The Automated Permanent Academic Account Registry (APAAR) is a transformative initiative
introduced in alignment with the National Education Policy (NEP) of 2020 and the National Credit
and Qualifications Framework (NCrF).
● The aim of the APAAR is to provide a unified and accessible educational experience for students
across India by providing each student with a unique and permanent 12-digit ID, consolidating their
academic achievements in one place.
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India wins 9th Gov Tech award at World Government Summit in Dubai
● At the World Government Summit 2024, India secured the prestigious 9th GovTech Prize for
endeavours in Artificial Intelligence (AI)-powered government services.
● India won the award under the category of 'AI-Powered Government Services'.
● The award has been presented to recognize the ‘iRASTE’ project of the Ministry for Road Transport
& Highways.
● This initiative is a collaborative effort of the government, industry, and academia.
● Its main aim is to reduce 50% of road accidents anticipated in urban areas.
DEFENCE NEWS
Indian Navy Collaborates with Seychelles Defence Forces and Sri Lanka Navy to Counter Hijacking of
Sri Lankan Fishing Vessel
• In a coordinated multilateral response to the hijacking of a Sri Lankan fishing vessel, the Indian
Navy in collaboration with Seychelles Defence Forces and Sri Lanka Navy successfully
intercepted and rescued the hijacked vessel.
• A hijacking incident was reported onboard the Sri Lankan flagged multi-day fishing trawler
LORENZO PUTHA 04 about 955 nm east of Mogadishu, Somalia. Three pirates had boarded
and hijacked the fishing trawler on 27 Jan 24.
Indian Navy Commissions First Survey Vessel Large Ship, INS Sandhayak in Visakhapatnam
• Indian Naval Ship (INS) Sandhayak (Yard 3025), the first Survey Vessel Large (SVL) ship, was
commissioned into the Indian Navy in the presence of Raksha Mantri Shri Rajnath Singh at an
impressive ceremony held at the Naval Dockyard, Visakhapatnam.
• Primary Role: The primary role of INS Sandhayak is to conduct comprehensive hydrographic
surveys of ports, harbours, navigational channels/routes, coastal areas, and deep seas to ensure
safe marine navigation.
• Secondary Role: Additionally, the ship is capable of undertaking various naval operations as part of
its secondary role.
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Indian Air Force to Hold Vayu Shakti 2024 Mega Exercise at Pokharan Range, Jaisalmer
• The Indian Air Force (IAF) will conduct the Vayu Shakti 2024 mega exercise at the Pokharan
Range in Jaisalmer, Rajasthan.
• The last edition of exercise Vayu Shakti took place on 16 February 2019, indicating its periodic
occurrence.
• Participation: More than 100 aircraft and helicopters will participate in this exercise.
• Several indigenous manufactured and designed aircraft and helicopters like Tejas, Prachand,
and Dhruv will take part in the exercise.
Indian Navy Designates 2024 as 'Year of Naval Civilians

• The Indian Navy has designated the year 2024 as the 'Year of Naval Civilians'.
• It has been declared to improve the administration, efficiency, and welfare of Naval civilians by
addressing all aspects of civilian human resource management in a time-bound manner.
• Key focus areas towards maximizing administrative efficiency, digital initiatives, general and
specific training programs, and welfare activities have been identified for implementation in 2024.
DRDO Achieves Success in Flight Trials of High-Speed Expendable Aerial Target 'ABHYAS' at
Integrated Test Range, Chandipur
• Defence Research & Development Organisation (DRDO) conducted four successful flight trials of
the High-speed Expendable Aerial Target (HEAT) - ABHYAS from the Integrated Test Range in
Chandipur, Odisha, between January 30 to February 02, 2024.
• Mission Objectives: Each trial was conducted with different mission objectives, highlighting the
versatility and adaptability of ABHYAS in various scenarios.
• The configuration used was revised and robust, featuring a single booster designed by the
Advanced Systems Laboratory in Hyderabad, aimed at providing reduced launch acceleration.
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Ministry of Defence Achieves Remarkable Milestone Surpassing ₹1 Lakh Crore in Orders on

Government e-Marketplace Portal
● The Ministry of Defence (MoD) has made an astounding accomplishment by surpassing the ₹1
Lakh Crore mark in terms of total order value transacted through the Government e-Marketplace
(GeM) portal, also known as Gross Merchandise Value (GMV).
● Transactions worth approximately ₹45,800 Crore have been awarded by the MoD in the current
financial year alone.
● First Central Government Entity: The Ministry of Defence is the first central government entity to
achieve this staggering figure, showcasing its strong commitment to optimizing public spending in
the Defence sector.
Milan 2024: War exercise including 50 Navies kicks off in Vizag

● Indian Navy’s largest-ever multilateral naval exercise, Milan 2024, has commenced in Vizag with
an impressive lineup of warships from Indian and foreign navies participating in the Harbour
Phase.
● From February 19 to 23, the Harbour Phase includes an international city parade on RK Beach, a
maritime seminar, a tech expo, Milan village, subject matter expert exchange, Milan of young
officers, and various sporting events.
● During the Sea Phase from February 24 to 27, participating navies will conduct advanced air
defence, anti-submarine, and anti-surface warfare drills.
● The exercises will include gunnery shoots on aerial and surface targets, manoeuvres, and
underway replenishment.
● For the first time, Vizagites will have the opportunity to see the indigenously built aircraft carrier
INS Vikrant, anchored off the coast of Vizag.
● This event marks the first time both the aircraft carriers - INS Vikrant and INS Vikramaditya - will
.
be present in the city.

India Launches Extensive 9-Day Naval Exercise in Visakhapatnam, With Around 50 Participating
Navies, Amid Heightened Global Security Concerns in the Red Sea Region
● India kick-started a 9-day mega naval exercise in Visakhapatnam with participation of around 50
navies that came amid the fractious geopolitical environment including growing global concerns
over deteriorating security situation in the Red Sea.
● Navies from the United States (US), Japan, Australia, France, Bangladesh, South Korea,
Vietnam, Indonesia and Malaysia, among others, are participating in the 12th edition of the
'Milan' exercise that is aiming to bolster maritime cooperation among like-minded nations.
● Commencement : The exercise commenced with the arrival of 15 warships and one maritime
patrol aircraft from friendly foreign countries.
● Indian Navy Participation : From the Indian Navy, nearly 20 ships including aircraft carriers
Vikrant and Vikramaditya and nearly 50 aircraft including MiG 29K, Light Combat Aircraft Tejas
and P-8I long-range maritime reconnaissance and anti-submarine warfare aircraft are
participating in the exercise.
● Phases: The exercise includes a harbour phase from February 19 to 23, followed by a sea phase
featuring various complex drills and manoeuvres from February 24 to 27.
● Milan is a biennial multinational naval exercise which started in 1995 with the participation of
Indonesia, Singapore, Sri Lanka and Thailand in consonance with India's 'Look East' policy.
● The exercise flourished under the aegis of Andaman and Nicobar Command till its 10th edition.
● The previous edition of the exercise took place in 2022 in Visakhapatnam.
Multinational military exercise ‘Shanti Prayas IV’ kicks off in Nepal
● Multinational military exercise – ‘Shanti Prayas IV’ – kicked off in Nepal at the Army headquarters
here with the participation of 19 countries, including India, Bangladesh and Pakistan to enhance
the interoperability and peacekeeping skills of the forces.
● The multinational military exercise is taking place at the Birendra Peace Operation Training
Centre in the Kabhre district, 50 km east of Kathmandu.
● Objective: To enhance interoperability and peacekeeping skills among the participating forces.
● Prime Minister Pushpa Kamal Dahal “Prachanda” inaugurated the two-week-long military drill.
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About Nepal :
● President : Ram Chandra Poudel
● Prime Minister : Pushpa Kamal Dahal
● Capital : Kathmandu
● Currency : Nepalese rupee
India's Largest Defence Equipment Exhibition, Defence Expo, Organized Near Pune at Moshi
● India's largest defence equipment exhibition, Defence Expo, is being organized by the Industries
Department of the Maharashtra government at the International Exhibition and Convention
Center at Moshi near Pune.
● Duration and Aim: The exhibition is scheduled for 3 days and is aimed at promoting the
manufacturing of the latest weapons required for the defence forces under the Atmanirbhar
Bharat Yojana.
● Participating Companies: More than 1,200 small companies producing arms and other materials
related to the defence sector will showcase their capabilities at the Expo.
5th edition of the India-Japan joint exercise 'Dharma Guardian' kicks off in Rajasthan
● The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and
the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan.
● The Exercise is scheduled to be conducted from 25th February to 9th March 2024.
● Exercise 'DHARMA GUARDIAN’ is an annual exercise and conducted alternatively in India and
Japan.
Participating Forces :
● The contingent of both sides comprises 40 personnel each.
● The Japanese contingent is being represented by troops from the 34th Infantry Regiment and the
Indian Army contingent is being represented by a Battalion from the Rajputana Rifles.
● Aim : To foster Military Cooperation and enhance combined capabilities to execute joint
operations in semi-urban environments under Chapter VII of the United Nations Charter.
Note :
● The 4th edition of joint military exercise, “EX DHARMA GUARDIAN”, between India and Japan is
being conducted at Camp Imazu in Shiga province, Japan from 17 February to 02 March 2023.
● The 1st edition of the Dharma Guardian exercise was held in 2018 at Counterinsurgency Warfare
School, Vairengte (Mizoram), India from 01 November to 14 November 2018.
Defence Secretary Collaborates in Co-Chairing High-Level India-Germany Defence Committee Meeting
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in Berlin
● Defence Secretary Shri Giridhar Aramane co-chaired the India-Germany High Defence
Committee (HDC) meeting in Berlin with the State Secretary, German Ministry of Defence Mr
Benedikt Zimmer.
● Agenda : Discussions focused on bilateral security and defence issues, aiming to develop
defence cooperation as a key aspect of the Strategic Partnership between India and Germany.
CURRENT AFFAIRS: PERSON IN NEWS
Jacintha Kalyan – India’s first female pitch curator
● Jacintha Kalyan creates history as she becomes India’s first female curator and is all set for an
exciting WPL season ahead.
● The upcoming 2nd edition of the Women’s Premier League tournament is all set to create some
history as Jacintha Kalyan is all set to become the first female curator to prepare the pitches
during the upcoming edition of the WPL that will commence on 23rd February 2023 and conclude
on 17th March 2024.
● The first half of the tournament will be played at the Chinnaswamy Stadium in Bangalore and the
2nd half of the tournament, including the eliminator, and the final will be played at the Arun Jaitley
Stadium in Delhi.
● Jacintha Kalyan, the first female curator in India will prepare the pitches for the Bangalore leg of
the tournament.

Indian Institute of Mass Communication Designated as Deemed University
• The Ministry of Education, on the recommendation of the University Grants Commission (UGC),
has declared the Indian Institute of Mass Communication (IIMC), a leading institution for
Journalism and Mass Communication, as a deemed university under a distinct category.
• Coverage of Declaration: The declaration extends to IIMC New Delhi and its five regional
campuses located in Jammu (Jammu & Kashmir), Amravati (Maharashtra), Aizawl (Mizoram),
Kottayam (Kerala), and Dhenkanal (Odisha).
• Authorization to Offer Degrees: With this new status, IIMC is now authorized to offer degrees,
including doctoral degrees, enhancing its academic offerings.
About IIMC :
.
• Founded on August 17, 1965, under the Ministry of Information and Broadcasting, Government of
India.
• IIMC is one of the leading institutions in the country for journalism and mass communication
training.
Taiwan's first lunar mission set to launch in 2024

• Taiwan is set to launch its first lunar mission in 2024, marking a significant milestone in the
country's space exploration efforts.
• National Central University's Announcement: On 29 January, Taiwan's National Central
University revealed details about this groundbreaking lunar mission, underscoring the
collaboration between academia and the space sector.
• Deep Space Radiation Probe (DSRP): Developed by faculty and students of Taiwan's National
Central University, the DSRP is a crucial component of the mission.
About Taiwan :
• President : Tsai Ing-wen
• Capital : Taipei
• Currency : New Taiwan dollar
ISRO to Send India’s female robot Astronaut 'Vyommitra' to Space Ahead of Gaganyaan Mission
• The woman robot astronaut, named "Vyommitra," is scheduled to fly into space ahead of the Indian
Space Research Organisation’s (ISRO's) "Gaganyaan" mission, which aims to be India’s first
human manned space flight carrying Indian astronauts.
• The uncrewed "Vyommitra" mission is planned for the third quarter of the current year, while the
manned "Gaganyaan" mission is scheduled for launch in 2025.
• Meaning of Vyommitra : The name "Vyommitra" is derived from the Sanskrit words "Vyoma"
(meaning Space) and "Mitra" (meaning Friend).
NASA's PACE Mission Launches from Cape Canaveral Aboard SpaceX Falcon 9 Rocket
• Plankton, Aerosol, Cloud, Ocean Ecosystem (PACE) is a NASA mission that took off from Cape
Canaveral Space Force Station in Florida on a SpaceX Falcon 9 rocket.
• The satellite will spend at least three years studying the oceans from 420 miles (676 kilometres)
up, as well as the atmosphere.
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• SpaceX conducted the PACE satellite launch as part of a $948 million mission, with the Falcon
rocket taking a southward trajectory over the Atlantic Ocean to achieve a rare polar orbit.
About NASA :
IIT-Madras Partners with Munitions India for Development of India’s First Indigenous 155mm Smart
Ammunition
• Indian Institute of Technology Madras (IIT Madras) has partnered with Munitions India Limited, a
Defence Public Sector Enterprise, to develop India’s first indigenously-designed 155 Smart
Ammunition to achieve indigenisation in the defence sector.
• To increase the accuracy of the 155 mm shell within a Circular Error Probable (CEP) of 10 m.
• At present, ammunition developed in India has a CEP of 500 m. Another goal is to increase the
lethality at the terminal impact point.
About Munitions India Limited :
• Headquarters : Pune, Maharashtra
• Chairman & Managing Director : Ravi Kant
India's first private launchpad readies for lift-off
• Satish Dhawan Space Centre in Sriharikota - a place that marked the majority of golden moments
in the Indian space sector — another history is set to be made.
• Preparations are in the final stages by the Chennai headquartered space-tech startup Agnikul
Cosmos for the maiden launch of India’s first-ever private launchpad and the second rocket launch
by a private sector player.
• Its launch vehicle Agnibaan will take off from Sriha-rikota during the current financial year itself.
National Aeronautics and Space Administration completes 1st phase of ambitious lunar nuclear reactor
project
• The National Aeronautics and Space Administration (NASA) completes the first phase of its
ambitious plan to deploy a nuclear fission reactor on the Moon.
• To establish a small nuclear reactor capable of generating electricity for future lunar missions and
settlements.
.
• Support for Lunar Missions: The nuclear reactor is expected to be a vital component in supporting
NASA's long-term plans for sustained human presence on the Moon, spanning at least 10 years.
Google Renames Its Artificial Intelligence Chatbot to Gemini in a Bid to Compete with ChatGPT
● Google has renamed its chatbot Bard to Gemini, presenting it as an advanced Artificial
Intelligence (AI) tool accessible to users worldwide.
● The tech giant has made the Gemini Pro 1.0 model available for users in over 230 countries and
territories, offering engagement in more than 40 languages.
● Gemini Advanced has been incorporated into the newly launched Google One AI Premium Plan,
priced at $19.99 per month, with a two-month complimentary trial period.
● Google has introduced a dedicated mobile application for Gemini and Gemini Advanced to
enhance the user experience on mobile devices.
About Google :
● Founded : September 4, 1998
● Headquarters : California, United States
● CEO : Sundar Pichai
C-DOT and Indian Institute of Technology Roorkee Collaborate to Develop 140GHz Fully Integrated
Transmitter & Receiver Module for 6G and Future Networks
● C-DOT (Centre for Development of Telematics), the leading Telecom R&D Centre of the
Department of Telecommunications (DoT), Government of India, has partnered with the Indian
Institute of Technology, Roorkee (IIT-R) to embark on a groundbreaking initiative.
● The collaboration aims to develop a cutting-edge 140GHz Fully Integrated Transmitter &
Receiver Module, poised to redefine the landscape of 6th Generation (6G) and beyond.
● The agreement, signed under the Telecom Technology Development Fund (TTDF) scheme of
the Department of Telecommunications, Government of India, signifies a commitment to
advancing telecommunication products and solutions for affordable broadband and mobile
services in rural and remote areas.
About C-DOT :
● Established : 25 August 1984
● Headquarters : Delhi, India
Google Introduces Lumiere Artificial Intelligence for Generating 5-Second Videos
● Google has introduced its latest artificial intelligence (AI) model, Lumiere, a multimodal video
.
generation tool capable of producing realistic 5-second-long videos.

● Lumiere is a text-to-video diffusion model designed for synthesising videos that portray realistic,
diverse and coherent motion.
● The model facilitates content creation tasks and video editing applications such as image-to-
video, video in painting, and stylized video generation.
● Lumiere model uses a Space-Time u-Net (STUNet) architecture to generate videos.
The Healthy Indian Project Becomes Part of WHO's Vaccine Safety Net
● The Healthy Indian Project (THIP) has been included as a member of the World Health
Organization's (WHO) Vaccine Safety Net (VSN).
● Purpose of VSN: The Vaccine Safety Net (VSN) was established by WHO to serve as a global
network of websites providing trustworthy and verified vaccine safety information.
● Network Size: Currently, the VSN comprises 110 websites from 45 countries, offering vaccine
safety information in 43 languages.
● Role of GACVS: The Global Advisory Committee on Vaccine Safety (GACVS), established by
WHO in 1999, plays a key role in the project.
● It responds promptly, efficiently, and with scientific rigor to vaccine safety issues of global
significance.
● Criteria for Good Information Practices: GACVS has developed three categories of criteria for
good information practices, including credibility, content, and accessibility/design, which websites
providing vaccine safety information should adhere to.
NASA Launches Extensive Air Pollution Monitoring Flights Across Asia Using DC-8 Flying Laboratory
● In a bid to enhance the forecasting and management of air pollution, the National Aeronautics
and Space Administration (NASA) has initiated an extensive series of flights across Asia using its
DC-8 flying laboratory.
● Aircraft and Operations : Flights are conducted using NASA's DC-8 flying laboratory, which can
last up to 8 hours and sometimes occur at altitudes as low as 15 meters above the ground.
● A smaller NASA Gulfstream jet capable of creating 3D maps of pollutants is also utilized for the
mission.
About NASA :
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Pixxel to launch six home-built hyper-spectral satellites from June 2024

● Bengaluru-based space start-up Pixxel plans to launch a series of small, home-built satellites -
Fireflies from June that could have a finer look at the Earth with its five-metre resolution hyper-
spectral imagery.
● Pixxel launched its satellite manufacturing unit -- Mega Pixxel in Bengaluru where it can
assemble, integrate and test 40 satellites weighing 100 kilograms every year as the nascent
company aims to take a leap in the space sector.
● Pixxel also plans to launch six heavier satellites, Honeybees next year to complete its
constellation of 24 satellites with an ability to revisit any location on Earth within a 24-hour cycle.
About Pixxel :
● Founded : February 2019
● Headquarters : Bengaluru, Karnataka, India
● Founder and CEO : Awais Ahmed
Samsung Reclaims Leading Position in Smartphone Market for 1st Time Since 2017
● India’s smartphone shipments remained flat in 2023 at 152 million units and Samsung took the
top spot, for the first time since 2017, with an 18% share, though lesser than what it had in 2022
at 19.4%.
● Apple became the largest smartphone brand by revenue in India in 2023 for the first time ever,
surpassing Korea’s Samsung in a market valued at around $40 billion.
● The iPhone maker’s revenue share stood at 23% last year, despite capturing just around 6.5%
market share by volume - its highest ever - as compared to Samsung which had 18% volume
share and 21% revenue share, followed by Vivo with 13% revenue share.
● Samsung led the market in volume terms with 18% market share, followed by Vivo with 17%.
Xiaomi dropped to third place, but captured the top spot in Q4 2023, on account of affordable 5G
handsets and offline expansion. Realme and Oppo completed the top 5 with 12% and 10% share
respectively.
About Apple :
● Founded : April 1, 1976
● Headquarters : Los Altos, California, United States
● Chief Executive Officer : Tim Cook.
NASA's Cassini Probe Uncovers Extensive Subsurface Ocean on Saturn's Moon Mimas
● As per the data from the National Aeronautics and Space Administration’s (NASA's) Cassini
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spacecraft unveils a significant discovery - a vast ocean exists beneath the icy surface of
Saturn's moon Mimas.
● Cassini-Huygens was a joint NASA/European Space Agency (ESA)/Italian Space Agency (ASI)
space mission to Saturn.
● The Cassini-Huygens mission commenced its journey on October 15, 1997.
IIT Jammu Professor Creates Sound-Based Anti-Drone System Costing Rs. 4 Lakhs
● In Jammu and Kashmir, a professor in the Electrical Engineering Department of IIT Jammu, Dr.
Karan Nathwani has developed an anti-drone system that works mainly on sound technology.
● The developed anti-drone system is both cost-effective and user-friendly, making it accessible for
security forces and other users.
● It is the first of its kind system that is developed based on an entirely new technology called
'sound-based detection'.
● It could easily detect drones, aircraft, multiple drones or birds flying up to 300 metres by their
sound.
ChatGPT maker OpenAI unveils ‘Sora’ that makes instant videos from written texts
● OpenAI, the creator of the ChatGPT, has unveiled a new generative artificial intelligence (GenAI)
model that can convert a text prompt into video.
● The model, called Sora, can generate videos up to a minute long while maintaining visual quality
and adherence to the user’s prompt.
● Sora is capable of creating “complex scenes with multiple characters, specific types of motion,
and accurate details of the subject and background.
● Sora in Japanese means sky, an imagery that evokes 'limitless creative potential'.
● Sora is an AI model developed by OpenAI - built on past research in DALL·E and GPT models
and can generate videos based on text instructions.
● DALL-E is a text-to-image model developed by OpenAI (introduced in January 2021) that creates
digital images from natural language descriptions.
About OpenAI :
● Headquarters : San Francisco, California, United States
● Chairman : Bret Taylor
● CEO : Sam Altman
.
India's 1st spy satellite made by domestic private player set for launch
● The first spy satellite in India to be made by a local private player is set to be launched in a
SpaceX rocket by April and will be used by the armed forces to get discreet information.
● Tata Advanced Systems Limited (TASL) built satellite is being shipped to Florida in preparation
for launch.
● Bengaluru will serve as the location of the ground control centre.
● It is under development and should be operational soon.
● In collaboration with the Latin American business Satellogic, the centre is being constructed.
● It will also be permitted to exchange the TASL satellite's pictures with friendly countries.
● Although the Indian Space Research Organization (ISRO) has satellites that can aid in the
sharing of the imagery, their use is restricted given the extensive coverage that is needed.
Japan to Introduce World's 1st Wooden Satellite in Efforts to Tackle Space Debris
● Japan and the United States (US) will launch the world’s first wooden satellite, the LingoSat
probe, into space to combat space debris
● It is constructed from magnolia wood, chosen for its stability and resistance to cracks,
demonstrating an innovative approach to satellite design.
● The project represents a collaboration between Japanese scientists and American counterparts,
emphasizing international cooperation in space exploration and environmental sustainability
efforts.
● Collaborators: Researchers from Kyoto University and Sumitomo Forestry have played pivotal
roles in the development and construction of the timber satellite, highlighting interdisciplinary
cooperation in scientific innovation.
About Japan :
● Capital: Tokyo
Successful completion of Human rating of CE20 Cryogenic engine for the Gaganyaan Programme
● ISRO has accomplished a major milestone in the human rating of its CE20 cryogenic engine that
powers the cryogenic stage of the human-rated LVM3 launch vehicle for Gaganyaan missions,
with the completion of the final round of ground qualification tests on February 13, 2024.
● The final test was the seventh of a series of vacuum ignition tests carried out at the High Altitude
Test Facility at ISRO Propulsion Complex, Mahendragiri, to simulate the flight conditions.
.
● The ground qualification tests for the human rating of the CE20 engine involved life
demonstration tests, endurance tests, and performance assessment under nominal operating
conditions as well as off-nominal conditions w.r.t thrust, mixture ratio, and propellant tank
pressure.
● All the ground qualification tests of the CE20 engine for the Gaganyaan programme have been
successfully completed.
About ISRO:
● Chairperson: Somanath
● Owner: Government of India
ISRO Collaborates with Sahyadri Farms to Develop Research and Innovative Grape Cultivation
Practices
● The Indian Space Research Organisation (ISRO) and Sahyadri Farms are poised to transform
agriculture through advanced satellite technology and data analytics.
● This partnership promises to transform traditional farming practices, enhance crop health
monitoring, predict weather patterns and optimise resource management.
● This initiative aligns with the Pradhan Mantri Fasal Bima Yojana, a crop insurance scheme aimed
at providing financial support to farmers.
Google Unveils Gemma: A New Line of Open AI Models Inspired by Gemini
● Google has introduced Gemma, a family of open AI models aimed at empowering individuals and
businesses to develop their own Artificial Intelligence (AI) software responsibly.
● Development Collaboration: Gemma models are developed by Google DeepMind in collaboration
with various teams within Google, leveraging cutting-edge technology similar to the acclaimed
Gemini models.
● Model Variants: Gemma models are available in two sizes: Gemma 2B and Gemma 7B, with
parameters ranging from 2 billion to 7 billion. Each size comes with pre-trained and instruction-
tuned variants.
About Google :
.

Reliance's 'Hanooman': Artificial Intelligence Model Supported by Mukesh Ambani, ChatGPT, to Debut
in March
● In a significant step towards the development of indigenous artificial intelligence (AI) in India, the
BharatGPT group, backed by Mukesh Ambani’s Reliance Industries and top engineering schools
in the country, aims to launch its first ChatGPT-style service in March 2024 named "Hanooman".
● The AI model is being developed in collaboration with 8 Indian Institutes of Technology (IIT) and
is backed by Reliance Jio Infocomm and the central government.
● Usage Across Domains: Hanooman is designed to operate in 11 regional languages across four
key domains: education, financial services, healthcare, and governance, reflecting its potential
impact on various sectors.
Meta Collaborates with Misinformation Combat Alliance to Launch WhatsApp Fact-Checking Helpline
Against Artificial Intelligence-Generated Deepfakes
● Tech giant Meta has joined hands with the Misinformation Combat Alliance (MCA) in a cross-
industry alliance announced towards launching a fact-checking helpline on messaging platform
WhatsApp to combat the menace of artificial intelligence (AI)-generated deepfakes.
● Helpline Functionality : The helpline, expected to be available for public use next month, will
allow users to flag deepfakes by alerting a dedicated WhatsApp chatbot.
● Multilingual Support : The chatbot will offer multilingual support in English as well as Hindi,
Tamil, and Telugu.
● Global Initiative : A group of 20 leading tech companies across the globe including Microsoft,
Meta, Google, Amazon and IBM signed an agreement to tackle AI-generated misinformation
ahead of the 2024 elections.
● Government Involvement : In November,2023 Union Minister of Electronics and Information
Technology Ashwini Vaishnaw stressed watermarking and labelling of content as an approach to
tackle deepfakes, after holding two rounds of discussions with intermediaries on the issue of
deepfakes and misinformation.
● Four-Pillar Approach : The programme will follow a four-pillar approach-detection, prevention,
reporting and driving awareness to stop the spread of deep fakes.
About Meta :
● Founded : January 4, 2004
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● Chairman & CEO : Mark Zuckerberg

Odysseus Achieves Historic Milestone as 1st United States Spacecraft to Land on the Moon Since 1972
● After a gap of 52 years since the last successful Apollo mission, a U.S.-made spacecraft named
Odysseus has successfully landed on the Moon.
● This event also signifies the arrival of private space companies on the lunar surface.
● Odysseus, a spacecraft built by Intuitive Machines, a 10-year-old company based in Houston,
used a Falcon 9 rocket by SpaceX to take off from Earth on February 15.
● The spacecraft carried 6 NASA payloads to the Moon.
● Location of Moon Landing: The lander module of Odysseus, known as Nova-C, became the
second spacecraft to land in the Moon's south pole region, following Chandrayaan-3's landing
last year.
● Frequency of Moon Landings: Odysseus's landing marks the 3rd moon-landing event within a
year, following Chandrayaan-3 and Japan's SLIM (Smart Lander for Investigating Moon).
IIT Guwahati Establishes India's Largest Drone Pilot Training Organization
● Indian Institute of Technology (IIT) Guwahati has launched the largest Remote Pilot Training
Organization (RPTO) in India in collaboration with EduRade, with the aim of promoting the
advancement of drone technology.
● Infrastructure and Capacity: The Pilot Training Organisation spans across 18 acres and has the
capability to fly 9 medium-class drones simultaneously.
● Training Courses : The RPTO will initially introduce a DGCA-Certified Medium Class Drone Pilot
Training Course which is tailored to enhance the skills of youth in the North East and other
regions of India.
Amazon Web Services Collaborates with T-Hub and Minfy to Launch India's First Space Tech
Accelerator Program
● Amazon Web Services (AWS) India announced its launch of an accelerator programme for space
startups called AWS Space Accelerator: India.
● It is a technical, business, and mentorship opportunity designed to foster startups focused on
space technology, and accelerate their development, with support from T-Hub, and Minfy.
● Partnerships and MOU: This initiative follows a Memorandum of Understanding (MoU) signed
between AWS, ISRO, and IN-SPACe in September the previous year.
● Duration and Support: The 14-week accelerator program will offer dedicated business resources,
expertise, and guidance on technology and business capabilities. Startups will leverage AWS to
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build, grow, and scale their missions.

● Eligibility and Benefits: The program is open to both early-stage and mature startups based in
India that support the space sector. Qualifying startups can receive benefits such as up to
US$100,000 in AWS credits, guidance from experts at ISRO, IN-SPACe, and AWS, and support
from T-Hub and Minfy, an AWS Premier Partner.
● Registration Deadline: Interested startups must register by March 17th, 2024, to participate in the
program.
ISRO Retires Cartosat-2, High-Resolution Imaging Satellite After 17 Years of Service, Focused on
Urban Planning
● Cartosat-2, the Indian Space Research Organisation’s (ISRO) second-generation high-resolution
imaging satellite, has been deorbited after serving for 17 years.
● Launch Details:Launched on January 10, 2007, the satellite weighed 680 kg and operated in a
sun-synchronous polar orbit at an altitude of 635 km.
● Orbit Characteristics: Cartosat-2 performed 14.78 orbits around Earth in a day, contributing to its
extensive data collection capabilities.
● Imaging Capabilities: Equipped with over 12,000 coupled charged devices, the satellite utilised
"panchromatic and multi-spectral cameras' ' to generate high-resolution images.
● NTPC is India’s largest integrated power utility with a total installed capacity, including JVs and
subsidiaries, of approximately 74 GW.
● NTPC Group has ambitious plans to attain 60 GW of renewable energy capacity by the year
2032.
● Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under pipeline.
Coal India and BHEL join forces for ammonium nitrate plant in Odisha
● Two of the country’s top Maharatna CPSE entities Coal India Limited (CIL) and Bharat Heavy
Electricals Limited (BHEL)formally signed a joint venture agreement (JVA) in Delhi for setting up an
ammonium nitrate plant through surface coal gasification (SCG) technology route.
● The plant to come up in the Lakhanpur area of Mahanadi Coalfields Limited, Odisha is planned to
produce 2000 tons of ammonium nitrate per day initially.
● The annual production is slated at 6.60 Lakh tons which requires 1.3 million tonnes (mts) of coal.
● BHEL would bring to the table indigenously developed pressurized fluidized bed gasification (PFBG)
technology for this purpose.
Agreement between the Textiles Committee, the Government e-Marketplace, and the Standing
.
Conference of Public Enterprises to promote repurposed goods manufactured from textile waste and
scrap was inked at Bharat Tex 2024.
● A tripartite Memorandum of Understanding (MoU) was signed by the Textiles Committee, under the
Ministry of Textiles, Government e Marketplace (GeM), Ministry of Commerce and Industry, and
Standing Conference of Public Enterprises (SCOPE), Department of Public Enterprises, for the
promotion of upcycled products made from textiles waste and scrap, at the ongoing Bharat Tex 2024
- India’s premier global textile event being held at the Bharat Mandapam, Pragati Maidan, New
Delhi.
● By the means of these MoUs, GeM will work with stakeholders in the upcycling ecosystem,
especially under-served seller groups, to provide them direct market linkages in public procurement,
sans intermediaries, through #Vocalforlocal GeM Outlet Stores.

CCI approves the acquisition of additional shares of API Holdings Limited by Naspers Ventures B.V.
• The Competition Commission of India (CCI) has approved the proposed acquisition of additional
shares of API Holdings Limited by Naspers Ventures B.V.
• The Naspers Ventures B.V. (Acquirer), is an indirect, wholly-owned subsidiary of Prosus N.V.
(Prosus), which is in-turn, a direct subsidiary of Naspers Ltd. (Naspers).
• The Acquirer is an investment holding company and its principal activity is to make investments
by providing direct and indirect equity and debt funding.
Insurance Regulatory and Development Authority of India Approves Bandhan Financial's Acquisition of
Aegon Life
• Bandhan Financial Holdings, the holding company of Bandhan Bank, is set to take control of
Aegon Life Insurance.
• The Insurance Regulatory & Development Authority (IRDAI) has granted final approval for the
acquisition, which was received earlier.
• Completion of Regulatory Approvals: With Irdai's approval, all regulatory requirements for the
proposed acquisition are now fulfilled.
• Bandhan Bank had previously obtained approval from the Reserve Bank of India (RBI) four weeks
ago.
HDFC Bank Group Granted RBI Approval to Purchase 9.5% Stake in 6 Banks
.
• India's biggest private sector bank, HDFC Bank, received the Reserve Bank of India (RBI)
approval to acquire aggregate holding of about 9.5% of the paid-up share capital or voting rights in
six banks.
• The six banks in which HDFC Bank has received approval to acquire stakes include Axis Bank,
Suryoday Small Finance Bank, ICICI Bank, Bandhan Bank, YES Bank, and IndusInd Bank.
• HDFC Bank submitted applications to the RBI, as a promoter/sponsor of the Group, on December
18, 2023, seeking approval for the stake acquisitions.
LIC Increases its Stake in SBI cards to 5.02%

● Life Insurance Corporation of India’s (LIC) shareholding in SBI Cards and Payments Services
crossed 5% with the insurer, as an investment function, acquiring 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 4.99% to 5.02% (47,410,710 to 47,711,794 equity shares)
following the open market purchase.
About LIC:
● Chairman : Siddhartha Mohanty
About SBI Cards and Payments Services Limited :
● MD & CEO : Abhijit Chakravorty
● It is a Joint Venture between State Bank of India (SBI) and GE Capital.
● SBI Cards and Payment Services is a non-deposit accepting systemically important NBFC,
registered with the Reserve Bank of India (RBI), and engaged in issuing credit cards to
consumers in India.
Adani Power and Dickey Alternative Investment Trust Receive Approval from the Competition
Commission of India for Acquisition of Coastal Energen
● The Competition Commission of India (CCI) accepted Adani Power Limited and Dickey
Alternative Investment Trust's bid to purchase a 100% stake in Coastal Energen Private Limited.
● Adani Power Limited (APL), part of the diversified Adani Group, is India's largest private-sector
thermal power generator.
.
● DAIT is a SEBI-registered Alternative Investment Fund (AIF).

● Adani Power Limited is India's largest private thermal power producer, with 15,250 MW of
installed capacity. Its nine power plants are located in the states of Maharashtra, Karnataka,
Gujarat, Chhattisgarh, Rajasthan, Madhya Pradesh, and Jharkhand.
About CCI :
● Established : 2003 (functional in May 2009)
● Chairman : Ravneet Kaur
● The CCI is the chief national competition regulator in India.
Competition Commission of India (CCI) Greenlights Minda Corporation Limited's Acquisition of

Approximately 8.79% Equity Share Capital in Pricol Limited
● The Competition Commission of India (CCI) has approved the acquisition of up to 8.79%
(approx.) of the equity share capital of Pricol Limited (Pricol/Target) by Minda Corporation Limited
(Minda/Acquirer).
● Minda Corporation Limited (Minda), the acquirer, is involved in manufacturing auto-components
parts catering to Original Equipment Manufacturers (OEMs) and Tier-1 companies across various
segments in India.
● Pricol Limited (Pricol/Target), the company being acquired, is engaged in manufacturing
automobile components for OEMs, Tier-1 suppliers, and replacement markets both in India and
globally.
About CCI :
● Established : 2003 (functional in May 2009)
.
HDFC Bank Receives RBI Approval to Sell 90% Stake in HDFC Credila to Private Equity Consortium
● Private sector lender HDFC Bank has received approval from the Reserve Bank of India (RBI) for
the divestment of a stake in HDFC Credila, the education loan subsidiary arm of HDFC Bank.
● HDFC Bank will sell a 90% stake in HDFC Credila to a consortium of private equity firms,
including BPEA EQT and ChrysCapital group.
● HDFC Bank will retain a 9.99% stake in HDFC Credila, which provides education loans to
students pursuing higher education in India and overseas.
Carlyle Group Offloads 1.3% Stake in Yes Bank for Rs 1,057 Crore through Open Market Sale
● Global investment firm The Carlyle Group pared a 1.3% stake in private sector lender Yes Bank
for Rs 1,057 crore through an open market transaction.
● The US-based Group through its affiliate CA Basque Investments offloaded 39 crore shares of
private sector lender Yes Bank on BSE.
● According to the bulk deal data available with BSE, CA Basque Investments sold 39 crore shares
amounting to a 1.35 per cent stake in Yes Bank.
● The shares were disposed of at an average price of Rs 27.10 apiece, taking the deal value to Rs
1,056.90 crore.
About Yes Bank :
● MD & CEO : Prashant Kumar
● Tagline : Experience our expertise
SPORTS NEWS
The fourth edition of the Khelo India Winter Games has commenced in Leh, Ladakh.
• The fourth Khelo India Winter Games started at Leh in Ladakh.
• This edition of the Games is being hosted jointly by the Union Territories of Ladakh and Jammu
and Kashmir in two parts.
• The first part of this edition is being hosted by the Ladakh at Leh. Six hundred athletes from 15
States and Union Territories are participating in the two sporting events namely Ice Hockey and Ice
Speed Skating games in this first part of the Khelo India Winter Games.
Satwiksairaj Rankireddy-Chirag Shetty became the first Indian duo to reach the number one spot in
.
BWF Rankings
• India's Satwiksairaj Rankireddy and Chirag Shetty created history as they defeated world
champions Aaron Chia and Soh Wooi Yik of Malaysia to win the country's first-ever gold medal in
men's doubles at the Indonesia Open.
• The victory came just a month after Satwiksairaj Rankireddy and Chirag Shetty won the gold
medal at the Badminton Asia Championships.
• Their latest accomplishment came on Sunday when they defeated the reigning world champions
with a score of 21-17, 21-18, making history as the first Indians ever to secure a Super 1000 title.
Abhinav Bindra selected as torchbearer for the 2024 Paris Olympics
• Abhinav Bindra has been selected as torchbearer for the 2024 Paris Olympics.
• Abhinav Bindra will be part of the Olympic torch relay to be held from April 16 to July 26.
• He is a member of the Athletes Commission of the International Olympic Committee (IOC).
• Abhinav Bindra is the first Indian to win a gold medal at the Olympic Games at the individual level.
The Ministry of Sports has suspended the Paralympic Committee of India due to the delay in conducting
elections.
• The Sports Ministry has suspended the Paralympic Committee of India (PCI) with immediate effect
for failing to conduct elections on time and non-compliance with guidelines.
• In its suspension order, the Sports Ministry yesterday pointed out that the term of Executive
Committee of PCI ended on the 31st of January.
• Whereas the last elections of PCI were held in September 2019, due to an order passed by the
Delhi High Court staying the notification of election dated 03.09.2019, and the returning officer was
also restrained from declaring the result of the elections.
Karnataka has secured the top spot in the medal tally for Short Track Ice Skating at the Khelo India
Winter Games.
• Karnataka has topped in the medal tally in the Short track Ice Skating with 4 gold medals in the
ongoing Fourth edition of the Khelo India Winter Games 2024 at Leh.
• Telangana is in second place with 2 golds and 3 silver medals and Maharashtra is in third in the
medal tally with one Gold, 7 Silver, and 5 Bronze medals.
2026 FIFA World Cup final to be played in New Jersey
• The 2026 World Cup final will be played at MetLife Stadium in New Jersey, U.S., on July 19.
.
• FIFA announced a Miami television studio, allocating the opener of the 39-day tournament spread
across three North American nations to Mexico City’s Estadio Azteca on June 11 and the finale to
the home of the NFL's New York Jets and Giants.
• Seventy-eight of 104 matches of the first World Cup held in three nations will be played in the U.S.,
with 13 games each in Mexico and Canada.
India leads the tally at the BIMSTEC aquatic championship with 18 medals on day one, including 7 gold,
9 silver, and 2 bronze.
• The first-ever edition of BIMSTEC aquatic championship is taking place at New Delhi.
• India is leading the tally with 18 medals on day one including 7 Gold, 9 Silver and 2 Bronze.
• Meanwhile, Thailand with 14 medal occupying the second spot and Sri Lanka is in third spot with 4
medals.
Sumit Nagal, an Indian tennis player, climbs 23 positions to make it into the top 100 of the ATP singles
rankings.
• In Tennis, India's Sumit Nagal jumped 23 ranks to enter the top 100 in the ATP singles rankings
for the first time in his career.
• The title win at the Chennai Open challenger event pushed Nagal to the 98th spot in the latest
singles rankings.
• Last month in the Australian Open, Nagal defeated then world no.27 Alexander Bublik of
Kazakhstan, becoming the first Indian to beat a seeded player at a Grand Slam in 35 years.
Khelo India athletes emerged as outperformers in the Li Ning Sri Lanka International Badminton
Challenge 2024
• In the Li Ning Sri Lanka International Badminton Challenge 2024, Khelo India athletes have
emerged as outperformers.
• Isha Rani Baruah won a Gold medal in the women's singles category, Rakshitha Sree S won a
Silver medal in the women's singles category, and Rithvik Sanjeevi S also won a Silver medal in
the men's singles category.
• The Sri Lanka Badminton Association conducted the Li Ning International Badminton Challenge
2024 at Galle between the 5th to 11th of this month.
Nagaland to co-host wrestling as a part of Khelo India University Games
• Nagaland will be co-hosting wrestling as part of the Khelo India University Games scheduled to be
held from 22nd to 26th February in Kohima.
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• Assam is the main host of the fourth edition of the Khelo India University Games.
• Other North Eastern states are also co-hosting various disciplines.
• About 240 athletes from universities across the country will participate in the wrestling.
• About 74 officials from the Sports Authority of India, All India University, and the National Sports
Federation will officiate and provide technical support.
The 2024 Badminton Asia Team Championships are set to begin in Shah Alam, Malaysia
• The Badminton Asia Team Championships 2024 began in Shah Alam, Malaysia.
• This biennial event will conclude on the 18th of this month.
• India's first match is scheduled against Hong Kong in the men's team event.
• The winners of this championship will be considered as the Asian qualifier for Thomas and Uber
Cups - the badminton world men's and women's team championships, scheduled to take place in
Chengdu, People's Republic of China from the 28th of April to the 5th of May this year.
India was awarded the 9th GovTech Prize for its AI-enabled government services at the World
Government Summit 2024.
• India has secured the prestigious 9th GovTech Prize for its pioneering endeavours in Artificial
Intelligence (AI)-powered government services, at the World Government Summit 2024.
• The annual award is instituted by the government of the UAE and is presented to government
entities, central or local, worldwide, to recognize creative and innovative solutions.
• India won under the category of 'AI-Powered Government Services'.
• The accolade recognises the remarkable efforts of the Ministry for Road Transport & Highways,
Government of India, for its transformative project known as iRASTE.
Arunachal Pradesh is the location where the Tawangchu Tides International Kayaking Championship-
2024 will be held
• The three-day Tawangchu Tides International Kayaking Championship-2024 kick started in
Tawang District, Arunachal Pradesh.
• District Deputy Commissioner inaugurated the championship at Dongshengmang in Bongleng
village near Indo Bhutan border.
• A total of 51 Kayakers from different countries including Britain, Russia and Australia and different
states of the country are participating in it.
• The event is being organized by an organization called “SWYTCH”.
The Mission Olympic Cell has granted approval to Judokas and Shooters for Global Competitions
.
• Mission Olympic Cell (MOC), Ministry of Youth Affairs and Sports, has approved Judokas
Himanshi Tokas, Shraddha Chopade and Asmita Dey for participation in multiple competitions.
• Junior Asian Championship Gold medallist Himanshi Tokas and Junior Oceania Championship
Gold medallist Shraddha Chopade will be heading to France Grand Slam, Azerbaijan Grand Slam,
Uzbekistan Grand Slam and Austria Grand Prix.
• The MOC has also approved shooter Elavenil Valarivan’s proposal to participate in the upcoming
International Shooting Sport Federation World Cup in Spain.
The logo, anthem, mascot, jersey, and torch for the 2023 Khelo India University Games are all unveiled
by the Assam Chief Minister
• Assam Chief Minister Dr Himanta Biswa Sarma ceremonially launched the Logo, Anthem, Mascot,
Jersey and Torch of Khelo India University Games - 2023, Ashtalakshmi in Guwahati in the
presence of Nisith Pramanik, Union MoS for Youth Affairs & Sports and Home Affairs.
• Assam had successfully conducted the National Games and SAARC Games and assured of
providing the best facilities and service to all the participating members in this sporting event.
At the Strandja Memorial tournament in Bulgaria, boxers Amit Panghal and Sachin Siwach were
awarded gold medals.
• In Boxing, World Championship medallist Amit Panghal and Sachin Siwach won a gold each, while
Nikhat Zareen and three other Indians signed off with silver medals at the 75th Strandja Memorial
tournament in Bulgaria.
About Bulgaria
• Capital: Sofia
• President: Rumen Radev
• Prime minister: Nikolay Denkov
• Currency: Bulgarian Lev
India clinched the SAFF U-19 Women's Championship by defeating Bangladesh in the final in Dhaka.
• India has won the South Asian Football Federation's (SAFF) U-19 Women's Championship beating
defending champion Bangladesh in the final of the four-nation tournament in Dhaka, Bangladesh.
• The winner of the match was decided by a toss after a lengthy penalty shootout.
• All eleven players from each side converted their penalties in the shootout after the contest ended
1-1 at full time.
.
• Sibani Devi gave India the lead in the eighth minute but Bangladesh striker Sagorika scored the
equalizer in the last minutes of the game to take it to penalties.
The Centre provided athletic scholarships to athletes under the Khelo India scholarship programme in
2023-24 for a total of over Rs 30 crore.
• The Centre has awarded over 30 crore rupees to athletes under the Khelo India scholarship
scheme during the 2023-24 financial year.
• The Youth Affairs and Sports Ministry said in a release that the Sports Authority of India has
granted a total annual scholarship of over six lakh 28 thousand rupees to almost three thousand
athletes under the Khelo India scholarship scheme.
• The Ministry said this amount was spent on training, coaching, diet, medical insurance, kits and
out-of-pocket allowance for the athletes.
The 15th CEC Ice Hockey Cup Championship is clinched by the Drass Warriors:
• In Ladakh, in a thrilling showdown at Khree Sultan Choo Ice Hockey Rink, Kargil, the Drass
Warriors clinched victory in the 15th CEC Ice Hockey Cup Championship.
• Displaying exceptional skill, they secured a resounding win of 7 goals against
United Chiktan, with Wasim Bilal earning the prestigious titles of Man of the Series and Man of the
Match.
• The tournament, organized by the District Youth Service and Sports Department, drew 31 men's
teams and 4 women's teams from across Kargil.
Malaysia's Shah Alam will host the Badminton Asia Team Championships in 2024.
● The Badminton Asia Team Championships 2024 began in Shah Alam, Malaysia.
● This biennial event will conclude on the 18th of this month.
● India's first match is scheduled for against Hong Kong in the men's team event.
● The winners of this championship will be considered as the Asian qualifier for Thomas and Uber
Cups - the badminton world men's and women's team championships, scheduled to take place in
Chengdu, People's Republic of China from the 28th of April to the 5th of May this year.
In the Pro Kabaddi League, Patna Pirates secured a playoff spot by defeating Telugu Titans.
● In the Pro Kabaddi League, three-time champions Patna Pirates defeated Telugu Titans 38-36 at
Netaji Indoor Stadium in Kolkata.
The 77th National Football Championship of Santosh Trophy, 2024, will have its final rounds held in
Arunachal Pradesh.
● Arunachal Pradesh is set to host the final rounds of 77th edition of National Football
.
Championship of Santosh Trophy, 2024.

● The championship is scheduled from February 21-March 9 at Golden Jubilee Outdoor Stadium,
Yupia, Itanagar.
The president of the International Chess Federation (FIDE) and the minister of sports passed the torch
for the 45th Chess Olympiad.
● Sports Minister Anurag Singh Thakur along with International Chess Federation FIDE president
Arkady Dvorkovich handed off Torch Relay for the 45th Chess Olympiad at Major Dhyan Chand
National Stadium in New Delhi.
● The 44th Chess Olympiad was hosted in Chennai, India and the 45th edition will be hosted by
Hungary in Budapest.
● India hosted Chess Olympiad with a great passion and all States participated in the Torch Relay
in the country.
● India not only hosted the 44th Chess Olympiad but hosted it with a style.
Ravichandran Ashwin becomes the second Indian player to reach the 500th Test wicket milestone.
● Indian off-spinner Ravichandran Ashwin claimed his 500th Test wicket in the first innings of the third
Test match against England at the Niranjan Shah Stadium in Rajkot. The 37-year-old achieved this
monumental feat in his 98th Test Match.
● Ashwin dismissed Zak Crawley in the final session of the second day to join Anil Kumble as the
second Indian, and fifth overall, to take 500 wickets in Test history.
Sumit Nagal wins Chennai Open ATP Challenger title; breaks into world’s top 100 for the first time
● India's Sumit Nagal won the Chennai Open ATP Challenger title win over top seed Luca Nardi of
Italy at the SDAT Tennis Stadium in Chennai.
● He became the first Indian to win a men's singles event at the Chennai Open ATP level event.
● Additionally, Nagal received 100 ATP points and US$18230 (equivalent to Rs 15.13 lakh), taking him
into the top 100 ranking in the world.
● Luca Nardi got 10730 US dollars, i.e. Rs 8.90 lakh, and 60 ATP points.
● This is Nagal's fifth career ATP Challenger singles title and his second title on Indian soil, more than
six years after winning the Bengaluru Open Challenger in 2017.
● In the doubles title, the Indian pair Ramkumar Ramanathan and Saketh Myneni won by defeating
Niki Kalianda Poonacha/Ritvik Chaudhary Bollipalli on 10 February.
● The Chennai Open ATP Challenger was hosted in collaboration with the Government of Tamil Nadu
and the Sports Development Authority of Tamil Nadu.
.
Australia clinch U19 Men’s Cricket World Cup crown with emphatic win over India
● Australia beat India by 79 runs to win their fourth ICC U19 World Cup.
● The Australian team posted a target of 253 runs in 50 overs.
● However, India fell short, managing to score only 174 runs in their innings.
● The 2024 ICC Under-19 Men's Cricket World Cup was an international limited-overs cricket
tournament organized by the International Cricket Council (ICC), that was held in South Africa from
19 January to 11 February 2024.
● It was the fifteenth edition of the Under-19 Cricket World Cup.
● The tournament was originally scheduled to be held in Sri Lanka, but its hosting was pulled in
November 2023 after Sri Lanka Cricket was suspended by the ICC.
● The Man of the match was awarded to Mahli Beardman who took 3 wickets for 15 runs in the final
match.
ISSF World Cup 2024 Cairo shooting: Divyansh Singh Panwar wins gold medal with world record score
● India’s Divyansh Singh Panwar won the gold medal in the men’s 10m air rifle shooting event at the
ISSF World Cup 2024 in Cairo.
● India finished their campaign at the top of the table with six medals.
● India’s six medals at the first ISSF World Cup of the year included two gold, three silver and one
bronze.
● Great Britain finished second on the medal table with two gold and one silver while Germany was
third with two gold and three bronze medals.
India set two national records, one silver, and three gold in the Asian Indoor Athletics Championships.
● India has concluded the Asian Indoor Athletics Championships in Tehran with three gold, one silver
and two national records.
● Tajinder Singh Toor breaking the nineteen-year-old national record and clinching gold with a throw of
19.7 metres in men's shotput.
● Harmilan Bains secured gold in the women's 1500 metres and Ankita Dhyani clinched silver in the
women's 3000 metres event.
● A total of 13 Indian athletes six women and seven men competed at the eleventh edition of the Asian
Indoor Athletics Championships 2024 held in Irani's Tehran from February 17 to 19.
The 77th National Football Championship Final Rounds for the Santosh Trophy will be placed in
Arunachal Pradesh in 2023–2024.
● Arunachal Pradesh is hosting the Final Rounds of the 77th National Football Championships for the
.
Santosh Trophy 2023-24 at Golden Jubilee Outdoor Stadium in Yupia.

● For the first time since its inception in 1941, the Santosh Trophy will be held in Arunachal Pradesh.
● The opening match of the 77th National Football Championships for the Santosh Trophy 2023-24
will be played between host Arunachal Pradesh and five-time champion Goa at the Golden Jubilee
Outdoor Stadium in Yupia.
Gold in the Junior Women's Team Sprint Event at the Asian Track Cycling Championship makes history
for India:
● In the Asian Track Cycling Championship, India created history by clinching Gold in the Junior
Women's Team Sprint Event at the Indira Gandhi Indoor Stadium in Delhi.
● The women's junior team, comprising Sarita Kumari, Niya Sebastian, Zaina Mohammed Ali Pirkhan,
and Sabina Kumari outpaced South Korea with an impressive timing of 53.383 seconds to win the
gold.
● In the men's junior team event, India's Narayan Mahto, Syed Khalid Baghi, and Mayanglambam
Wattaba Meitei won the silver medal
Khelo India Games: Jain University tops the standings in all categories of swimming events with 7 Gold,
6 Silver, and 3 Bronze.
● In the Khelo India Games, Jain University of Karnataka topped the list in all categories of Swimming
events with 7 Gold, 6 Silver and 3 Bronze followed by the University of Kerala with 5 Gold, 1 silver
and 2 bronze medals and Adamas University placed in the third with 6 medals played at the Dr.
Zakir Hussain Swimming Pool in Guwahati.
● Jasmeen Kaur of Punjab University won the Gold in the Women's 10-meter Air Rifle, Devanshi
Katara, University of Rajasthan bagged the Silver while Kajal Kumari of Manipal University won the
Bronze medal at the Khelo India University Games 2023 Ashtalakshmi at Kahilipara Shooting
Range, Guwahati.
India bags 14 medals, including nine Golds at Archery Asia Cup 2024 in Baghdad, Iraq
● India finished the Archery Asia Cup 2024 with 14 medals, including nine golds, four silvers and one
bronze in Baghdad, Iraq.
● In the women’s individual recurve category, three-time Olympian Deepika Kumari won the gold
medal by defeating compatriot Simranjeet Kaur 6-2.
● Meanwhile, in an all-Indian final, Dhiraj Bommadevara beat Tarundeep Rai 7-3 to win the men’s
recurve archery title.
Abhay Singh, an Indian squash player, wins the Goodfellow Classic in Toronto.
.
● Indian Squash player Abhay Singh clinched the Goodfellow Classic PSA Challenger Tour Title in
Toronto, Canada.
● In the finals, he defeated Elliott Morris Devred of Wales by 3-0.
● With this win, the Asian Games Gold medalist has won his eighth PSA World Tour title.
The University of Calicut won the Khelo India University Games Men's Football Title 2-1 against the
University of Kerala.
● The University of Calicut lifted the championship trophy of Men’s Football at the Khelo India
University Games 2023 defeating the University of Kerala by 2:1.
● The final match was held at Rajiv Gandhi Stadium, Mulapui in Aizawl.
● In all, 8 Universities have participated in the competition which includes 3 teams from Kerala, 2
teams from Punjab, 2 teams from West Bengal and 1 team from Maharashtra.
● The Mizoram Edition of the Khelo India University Games 2023 began on February 19th.
'Trailblazing Pioneer': Jay Shah Hails Jacintha Kalyan on Becoming India's First Female Pitch Curator
● Jacintha Kalyan has become the trailblazing pioneer as the first female cricket pitch curator in our
nation.
● The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, extended warm praise to
Jacintha Kalyan for her groundbreaking achievement as the first female pitch curator in Indian
cricket history.
● Kalyan is currently overseeing the pitch preparations for the Women's Premier League (WPL) in
Bengaluru, marking a significant milestone for gender inclusivity in the sport.
● Kalyan, hailing from an agricultural background, has been associated with the Karnataka State
Cricket Association (KSCA) for over three decades.
OBITUARIES
Veteran Odia Actor & National Award Winner, Sadhu Meher, Passed Away
• Renowned actor and director Sadhu Meher, who left an indelible mark on both Hindi and Odia
film industries, passed away in Mumbai at the age of 84.
• Meher hailing from Manamunda in Odisha's Boudh district.
• He initiated his career in 1969 with notable Hindi films such as "Bhuvan Shome", "Ankur", and
"Mrigayaa", later transitioning his focus to Odia cinema.
.
• In the Hindi film industry, Sadhu Meher made his debut in Mrinal Sen's "Bhuvan Shome" (1969),
portraying the character of a junior railway official.
• The movie received national acclaim, securing awards for Best Film, Best Director, and Best
Actor the following year.
Marathon World Record Holder Kelvin Kiptum Killed in Road Accident

• Kelvin Kiptum, the current marathon world record holder, and his coach Gervais Hakizimana died
in a road accident.
• Kelvin Kiptum was born on December 2, 1999, in Chepsamo, Chepkorio, Kenya.
Former Chilean President Sebastián Piñera Dies in Helicopter Accident
• Sebastián Piñera, the two-time former President of Chile who faced social upheaval followed by a
pandemic in his second term, died in a helicopter accident at the age of 74.
• Sebastián Piñera was born on 1st December 1949 in Santiago, Chile.
• He became Chile's first conservative president to be democratically elected since 1958.
About Chile :
• President : Gabriel Boric
• Capital : Santiago
• Currency : Chilean peso
Renowned litterateur and Padma Shri awardee Usha Kiran Khan passed away
● Renowned litterateur and Padma Shri awardee Usha Kiran Khan passed away at the age of 78 in
Patna, Bihar.
● Usha Kiran Khan was born at Laheriasarai in Darbhanga district of Bihar in October 1945.
● In 2011, Usha won a Sahitya Akademi Award for the Maithili novel Bhamati: Ek Avismaraniya
Premkatha.
● In 2012, she was awarded a Kusumanjali Sahitya Samman by the Indian Council for Cultural
Relations for her novel Sirjanhaar.
● Khan was awarded the Padma Shri in 2015 for her service in the field of literature and education.
Note :
● The Indian Constitution's 8th Schedule saw the addition of the Maithili language through the 92nd
Amendment Act of 2003, which was enforced in 2004.
Ex-Indian Test Cricketer Dattajirao Gaekwad Passed Away
.
● India's oldest Test cricketer and former captain, Dattajirao Gaekwad, passed away at the age of
95 due to age-related issues.
● After the death of Deepak Shodhan in 2016, he became the oldest living Indian Test cricketer.
Renowned Actor Kavita Chaudhary, Famous for Portraying 'Lalitaji' and in the Serial 'Udaan,' Passed
Away
● Actor Kavita Chaudhary, the canny, kind Lalitaji from 1980s ad for Surf detergent and star of the
popular Doordarshan serial “Udaan”, passed away at the age of 67.
Eminent jurist & Senior Supreme Court Lawyer Fali Nariman passed away
● Renowned constitutional jurist and senior Supreme Court advocate Fali S Nariman passed away
at the age of 95 in New Delhi.
● Fali Nariman Born in 1929 in Rangoon, British Burma, British India (present day Yangon,
Myanmar).
● He also participated in cases like the TMA Pai case, addressing the extent of minority rights
under Article 30.
● Nariman was a significant public voice in the country. Recently, he raised criticism against the
judgement leading to the abrogation of Article 370.
● In 2022, Nariman in his book, ‘You Must Know Your Constitution’, wrote, “The life of a written
Constitution—like the life of the law—is not logic (or draftsmanship), but experience
● He received the Padma Bhushan in January 1991 and in 2007 he was awarded the Padma
Vibhushan.
Opposition Leader, Anti-Corruption Activist and Political Prisoner Alexey Navalny Passed Away
● A Russian opposition leader, lawyer, anti-corruption activist, and political prisoner Alexey Navalny
died in prison.
Former Maharashtra Chief Minister, Manohar Joshi Passed away
● Former Maharashtra Chief Minister Manohar Joshi passed away at the age of 86 in Mumbai.
● Joshi was born on 2 December 1937 in Raigad district in Maharashtra.
● He was the first chief minister from undivided Shiv Sena and held the post during 1995-1999.
Iconic Radio Broadcaster Known for His Melodious Voice, Ameen Sayani Passed Away
● Ameen Sayani, radio's most recognised voice for millions of Indians who tuned into Binaca
Geetmala every week, has passed away at the age of 91.
● Ameen Sayani was born on 21 December 1932 in Bombay, Bombay Presidency, British India
.
(now Mumbai, Maharashtra, India).
Renowned Filmmaker Kumar Shahani Passed Away

● Renowned filmmaker Kumar Shahani passed away in Kolkata at the age of 83.
● Shahani was born on December 7, 1940, in Larkana, Sindh (now in Pakistan).
● He was a celebrated Indian film director and screenwriter, known for his contributions to parallel
cinema.
● His notable works include "Maya Darpan" (1972), "Tarang" (1984) (which won a National Film
Award), "Khayal Gatha" (1989), and "Kasba" (1990).
Andreas Brehme, Scorer of Germany's 1990 World Cup Winning Goal, Passed Away
● Andreas Brehme, who scored from the penalty spot to seal victory for West Germany against
Argentina in the 1990 World Cup final, passed away at the age of 63.
● Andreas Brehme was born in Hamburg, West Germany.
● He won the Bundesliga title in 1998 and German Cup in 1996 during his time at the club, with
whom he also had a spell as manager from 2000-02.
● He played 86 times for his country, scoring 8 goals, the most famous of which, an 85th-minute
penalty against Argentina at the Olympic Stadium in Rome, brought West Germany their third
World Cup title.
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Important Monthly Current Affairs Capsule – March 2024
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3. CABINET APPROVALS 73
4. NATIONAL NEWS 78
6. STATE NEWS 107
7. BUSINESS NEWS 118
15. BOOKS AND AUTHORS 205
16. SPORTS NEWS 205
17. OBITUARIES 213
.
IMPORTANT DAYS
Zero Discrimination Day: 1st March
• Zero Discrimination Day 2024 is celebrated on March 1st, 2024.
• The theme for Zero Discrimination Day 2024 is “To protect everyone's health, protect everyone's
rights.”
• Zero Discrimination Day was first celebrated and observed on March 1st, 2014.
• Zero Discrimination Day was launched by UNAIDS.
World Civil Defence Day: 1st March
• World Civil Defence Day 2024 is observed on the 1st of March 2024
• In 1958, the International Association of Geneva Zones became the International Civil Defence
Organization (ICDO) and was given a new status as a non-governmental organization with
objectives such as establishing a liaison between national civil defence organizations, undertaking
and promoting studies and research on population protection matters, and facilitating the exchange
of experience and the coordination of efforts in the area of disaster prevention, preparedness, and
intervention.
Self Injury Awareness Day: 1st March
• Self Injury Awareness Day 2024 is observed on the 1st of March 2024
• The Self-Injury Awareness Day (SIAD) is a global event that is conducted every year on March 1st.
• The history and origin of Self Injury Awareness Day are not known properly but the day was
celebrated more than 20 years on 1st March.
Employee Appreciation Day: 1st March
• Employee Appreciation Day 2024 is observed every year on the 1st Friday of March, so, for this
year it is observed on March 1st, 2024.
• Employee Appreciation Day 2024 is an annual event that focuses attention on employees in all
industries.
• Employee Appreciation Day is an unofficial holiday observed on the first Friday of March.
World Wildlife Day: 3rd March
• World Wildlife Day 2024 is celebrated on March 3rd, 2024.
• The 2024 theme, “Connecting People and Planet: Exploring Digital Innovation in Wildlife
Conservation”.
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• It commemorates the day of the signature of the Convention on International Trade in endangered
species of wild fauna and flora. World Wildlife Day 2024 is a great opportunity to celebrate many
beautiful and various flora and fauna species.
• The United Nations General Assembly (UNGA) declared March 3, at its 68th session, the day of
the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and
Flora(CITES).
World Hearing Day 2024: 3rd March

• World Hearing Day is announced to be celebrated on March 3rd, 2024.
• It is observed to raise public awareness about how to avoid deafness and hearing impairment, as
well as to support ear and hearing care around the world.
• In 1870 Hearing educators eliminated sign language and agreed to embrace oral teaching at the
Second International Congress on Deaf Education in Milan, Italy.
• The World Health Organisation (WHO) created a holiday to raise awareness to avoid deafness in
2007 and the holiday was renamed from International Ear Care Day to World Hearing Day in 2016.
National Safety Day: 4th March
• National Safety Day 2024 is celebrated on March 4th, 2024.
• To create awareness about the importance of all guidelines like safety, workplace safety, and the
safety of human health and the environment the National Safety Day 2024 is celebrated every year
on 4th March.
• In 1965, a decision was taken to set up national and state-level Safety Councils by the Ministry of
Labour and Employment and the Standing Labour Committee’s session approved this in February
1966.
World Sustainable Energy Days 2024: 5 - 8th March
• World Sustainable Energy Day 2024 is observed on 5 - 8th March across the world.
• It hosts events centred on sustainable energy production and use, which cover energy efficiency
and renewable energy sources for buildings, industry, and transport.
• In her 2020 State of the Union address, President of the European Commission Ursula von den
Leyen proposed the emissions reduction target be set at 55%, alongside a revision of the EU’s
climate and energy legislation.
International Women’s Day: 8th March
• International Women’s Day 2024 is celebrated on 8th March 2024.
.
• The International Women’s Day 2024 theme is “Invest in women: Accelerate progress”
• In 1869, Susan B. Anthony and Elizabeth Cady Stanton started the National Women’s Suffrage
Association to fight for women's rights.
CISF Raising Day: March 10
• CISF Raising Day is celebrated on 10th March 2024.
• The Central Industrial Security Force (CISF) is one of the Central Armed Police Forces in India.
• CISF is a unique organization in the paramilitary forces of India, which works to provide security
cover to over 300 industrial units, government infrastructure projects, and facilities and
establishments located all over India.
• CISF was formed on March 10, 1969, under the CISF Act of the Parliament of India.
National No Smoking Day: 13th March
• National No Smoking Day 2024 is observed on 13th March 2024 (the Second Wednesday of
March)
• The National No Smoking Day 2024 theme is, "Protecting children from tobacco industry
interference".
• The first National No Smoking Day was in 1984, and it now takes place on the second Wednesday
of March to encourage people all over the world to quit smoking.
• According to the researchers, this effort has proven very effective, and was observed that at least
one in ten people gave up smoking on National No Smoking Day.
International Day of Action of Rivers 2024: March 14
• International Day of Action of Rivers 2024 is an international event celebrated on March 14th,
2024.
• The International Day Of Action For Rivers 2024 theme is 'Water for All', which demands that the
rivers be declared a national asset.
• The International Day of Action Against Dams and For Rivers, Water and Life was adopted by the
participants of the First International Meeting of People Affected by Dams in March 1997 in
Curitiba, Brazil, according to internationalrivers.org.
PI Day 2024: March 14th 2024

• PI Day 2024 is observed on March 14th, 2024.
• It is an international event observed all over the world on the 14th of March every year. It is a day
to celebrate the mathematical constant pi (π) and to eat lots of pie.
.
• Pi Day 2024 celebrates the mathematical constant π (3.14).

• An American Physicist Larry Shaw organized the first Pi Day in 1988 at the San Francisco
Exploratorium.
World Kidney Day: March 14
● World Kidney Day is observed on the second Thursday of March, every year.
● This year it falls on March 14.
● World Kidney Day aims to create awareness about the importance of healthy kidneys and how one
can maintain kidney health and prevent kidney-related diseases.
● The theme for the 2024 campaign is 'Kidney Health For All.'
World Sleep Day 2024: March 15
● On 15th March 2024, World Sleep Day 2024 is observed all over the world.
● World Sleep Day is an annual event, intended to be a celebration of sleep and a call to action on
important issues related to sleep, including medicine, education, social aspects, and driving.
● World Sleep Day was founded by the World Sleep Day Committee of the World Sleep Day Society in
2008.
● The first World Sleep Day was held on 14 March 2008.
World Consumer Rights Day 2024: March 15

● World Consumer Rights Day 2024 is observed all over the world on March 15th, 2024.
● It is a global event that aims to raise awareness about consumer rights and needs.
● World Consumer Rights Day was inspired by President John F Kennedy, who sent a special
message to the US Congress on 15th March 1962, in which he formally addressed the issue of
consumer rights.
National Vaccination Day: March 16
● On 16th March 2024, National Vaccination Day is observed all over India.
● It is a national event celebrated annually since 1995 on the 16th of March every year.
● National Vaccination Day is celebrated every year in the country on March 16 as on the same day
the first dose of Oral Polio Vaccine was given in India in 1995.
Ordnance Factories Day 2024: March 18
● Ordnance Factories Day 2024 is observed on the 18th of March 2024.
● The East India Company of England, to increase their economic interest and political hold,
considered manufacturing military hardware as a vital element.
.
● The British authorities in 1775 established a Board of Ordnance in Fort William, Kolkata, which
marks the official beginning of the Army Ordnance in India.
● They further set up a gunpowder factory in 1787 at Ishapore, which started production in 1791.
International Day of Happiness: March 20
● International Day of Happiness 2024 is observed on the 20th of March 2024.
● Back in 2011, the idea was introduced to the United Nations by the advisor Jayme Illien. Illien also
founded the United Nations New Economic Paradigm project and ‘happytalism’, which aim to
change the way nations approach economic growth by focusing on ‘happytalism’ over capitalism.
● The General Assembly of the United Nations agreed with the proposal and officially founded the
International Day of Happiness in July 2012, with the occasion first being observed in 2013.
World Oral Health Day 2024: March 20
● World Oral Health Day 2024 is observed on the 20th of March 2024.
● WOHD was first declared and originally celebrated on September 12, 2007, however, the campaign
came into action in 2013.
World Sparrow Day: March 20
● World Sparrow Day is observed on 20th March.
● World Sparrow Day was first observed in 2010, marking the beginning of a campaign to save these
chirpy little birds.
● The Nature Forever Society was founded by an Indian conservationist Mohammad Dilawar who
started his work helping house sparrows in Nashik.
● For his efforts, he was named ‘Heroes of Environment’ for 2008 by Time Magazine.
World Poetry Day: March 21
● World Poetry Day 2024 is celebrated all over the world on the 21st of March 2024.
● The earliest poetry is believed to have surfaced with the “Epic of Gilgamesh” sometime during 2000
B.C., but it is likely that poetry existed even before the spread of literacy.
● The day was proposed and adopted by UNESCO in 1999, on the occasion of its 30th General
Conference held in Paris to “give fresh recognition and impetus to national, regional and
international poetry movements.”
● On March 21st,2000 the first World Poetry Day was celebrated.
World Down Syndrome Day: March 21
● World Down Syndrome Day 2024 is celebrated all over the world on the 21st of March 2024.
● In 2005, the UN’s general assembly decided that in fulfilling the UN’s Sustainable Development Goal
.
no one should be left behind and persons with disabilities must also come forward to help the UN in
its targets of Agenda 2030.
● The convention was then opened for signatures on 30 March 2007.
World Forestry Day: March 21
● World Forest Day 2024 is celebrated all over the world on the 21st of March 2024.
● Previously, the 16th session of the Conference of the Food and Agriculture Organization (FAO)
voted for “World Forestry Day" in 1971.
● Then, from 2007 to 2012, the Center for International Forestry Research (CIFOR) held six Forest
Days.
World Water Day 2024: March 22

● World Water Day 2024 is celebrated all over the world on March 22nd, 2024.
● The day is used to advocate for the sustainable management of freshwater resources.
● The idea for this international day goes back to 1992, the year in which the United Nations
Conference on Environment and Development in Rio de Janeiro took place.
● That same year, the United Nations General Assembly adopted a resolution by which 22 March of
each year was declared World Day for Water, to be observed starting in 1993.
World Meteorological Day 2024: March 23
● World Meteorological Day is celebrated on March 23 every year all over the world and it is an annual
event.
● The day is celebrated as the establishment of the World Meteorological Organization (WMO), and it
concentrates on the behaviour of Earth’s atmosphere.
● In 1873, The First Weather Organization was formed and the International Meteorological
Association was formed to exchange information about weather across national borders.
● On March 23rd, 1953, The International Meteorological Organization became the World
Meteorological Organization, which it still is today.
● On March 23rd, 1961, The first World Meteorological Day was observed, on the anniversary of the
organization’s creation.
World Tuberculosis (TB) Day 2024: March 24
● World Tuberculosis Day, observed on 24 March each year all over the world, is designed to build
public awareness about the global epidemic of tuberculosis and efforts to eliminate the disease.
● World Tuberculosis (TB) Day continues with the theme “Yes! We can end TB”.
.
● On March 24, 1882, Dr. Robert Koch announced the discovery of Mycobacterium tuberculosis, the
bacteria that causes tuberculosis (TB).
International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2024:
March 25
● On March 25th, International Day of Remembrance of the Victims of Slavery and the Transatlantic
Slave Trade 2024 is celebrated all over the world.
● International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is a
United Nations international observance designated in 2007 to be marked on 25 March every year.
International Day of the Unborn Child 2024: March 25
● On March 25th, International Day of the Unborn Child 2024 is celebrated all over the world.
● International Day of the Unborn Child was established by Pope John Paul II to coincide with the
Feast of the Annunciation and is officially recognized in several predominantly Catholic countries.
● El Salvador was the first country to recognize a Day of the Right to Be Born, which was established
in 1993.
Purple Day of Epilepsy- March 26
● Purple Day of Epilepsy is a global awareness campaign for epilepsy held annually on March 26.
● The day is dedicated to educating people about epilepsy, a neurological condition that affects
millions worldwide.
● Cassidy Megan, a young Canadian girl diagnosed with epilepsy, started Purple Day in 2008 to raise
awareness about the condition.
● The first Purple Day was held on March 26th, 2008, and witnessed enthusiastic participation in
Canada.
● In 2009, Cassidy Megan and the Epilepsy Association of The Maritimes joined forces with The Anita
Kaufmann Foundation to launch Purple Day internationally.
World Theatre Day: March 27
● World Theatre Day is celebrated every year on March 27.
● In 1961, the International Theatre Institute (ITI) proposed that there should be a day every year to
celebrate the importance of theatre.
BANKING & FINANCE

RBI Grants Final Approval for Amazon Pay to Operate as Payment Aggregator
.
• Amazon Pay, the financial technology division of e-commerce giant Amazon, has secured the
esteemed payment aggregator (PA) license from the Reserve Bank of India (RBI), marking a
significant milestone in its operations.
• The regulatory approval permits the payments platform to function as a payment aggregator,
empowering it to facilitate e-commerce transactions through its application.
• The fintech firm joins a list of companies that the central bank has granted authorisation to operate
as payment aggregators (PA) in 2023.
Government Spending Realignment to Lower Debt-GDP Ratio to 73.4% by 2030-31: RBI Report
• A strategic realignment of government spending is expected to lead to a decline of the general
government debt-gross domestic product (GDP) ratio to 73.4% by 2030-31 from an estimated
81.6% in 2023-24, according to a report by the Reserve Bank of India which is in contrast to
advanced and emerging economies where the ratio is expected to go up.
• The general government debt to GDP ratio is 81.6% of GDP in 2023-24 (BE).
• This projection stands notably lower than the IMF's estimate of 78.2%.
RBI Extends Export Credit Interest Equalisation Scheme Until June 30, 2024
• Government of India (GoI) has allowed for the extension of the Interest Equalization Scheme for
Pre and Post-Shipment Rupee Export Credit ('Scheme') up to June 30, 2024.
• Under this extension, Manufacturers and Merchant Exporters dealing with specified 410 HS lines
will benefit from a 2 percent interest equalization rate, while MSME manufacturers exporting under
any HS line will receive a higher rate of 3 per cent.
IndusInd Bank Collaborates with Uttar Pradesh Government for Livestock Welfare Program
• IndusInd Bank and Bharat Financial Inclusion Limited (100% subsidiary of IndusInd Bank) have
signed a Memorandum of Understanding (MoU) with the State Government of Uttar Pradesh to
focus on livestock healthcare management and welfare in the Western Uttar Pradesh region
through their social initiative, Bharat Sanjeevani Program.
• Through this association, IndusInd Bank and Bharat Financial Inclusion Limited (100% subsidiary
of IndusInd Bank) will extend comprehensive operational support for the newly established Cow
Sanctuary in Muzaffarnagar and a doorstep tele-medicine and mobile veterinary service under the
CSR umbrella – Sattvam.
• Founded : April 1994
.

• MD & CEO : Sumant Kathpalia.
• Tagline : We Make You Feel Richer
Reserve Bank of India Issues Master Direction for Bharat Bill Payment System, 2024
• In exercise of the powers conferred under Section 18 read with Section 10(2) of the Payment and
Settlement Systems Act, 2007 (PSS Act), the Reserve Bank of India (RBI) has introduced a
revised regulatory framework for the Bharat Bill Payment Systems (BBPS), effective April 1, 2024.
• Applicability : NPCI Bharat Bill Pay Limited (NBBL - a wholly owned subsidiary of National
Payments Corporation of India); and
Finance Minister Nirmala Sitharaman Leads Review Meeting on National Bank for Financing
Infrastructure and Development (NaBFID) Performance in New Delhi
• Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chaired the meeting to
review the performance of the National Bank for Financing Infrastructure and Development
(NaBFID) in New Delhi.
• NaBFID started its operations with a small team of deputed officials from 12 institutions, both public
and private sector
About NaBFID :
• The Government of India (GoI) set up NaBFID in April 2021 as India’s fifth All India Financial
Institution in the country to support the development of long-term non-recourse infrastructure
financing in India.
• NaBFID is a specialised development finance institution in India which supports the country's
infrastructure sector by bridging the financing gap in the infrastructure sector, enabling credit flow
through innovative instruments such as longer tenor loans, blended finance, partial credit
enhancement, takeout financing, and facilitate crowding-in of infrastructure finance.
• The authorised share capital of the Institution is ₹ 1 lakh crore, and GOI has already infused an
initial capital of ₹ 20,000 crore along with a grant of ₹ 5,000 crore.
Jana Small Finance Bank Collaborates with Dvara Money for Digital Banking Services
• Jana Small Finance Bank (Jana SFB) entered into a partnership with Dvara Money (DM) to
combine DM's innovative Spark Money platform with the technological capabilities of Jana SFB.
• A significant element of this partnership is the Third-Party Application Providers (TPAP)
capabilities.
• TPAP will enable the integration of a full-stack UPI solution into the Spark Money platform.
.
• The solution will also enable UPI functionalities like Aadhar OTP-based onboarding and credit on
UPI to Dvara's existing offerings.
• Headquarters : Bangalore, Karnataka, India
• CEO : Ajay Kanwal
• Jana Small Finance Bank, a scheduled commercial bank, is the 4th largest Small Finance Bank in
India and was launched in March 2018.
RBI Enhances Framework for Fintech Sandbox, Extends Timelines for Specific Processes
• The Reserve Bank of India (RBI) has revised its 'Enabling Framework for Regulatory Sandbox',
extending the timelines for various stages of the sandbox process and permitting applicants to
establish in-principle partnerships before applying for the sandbox.
• Reasons for Updates: The revisions stem from insights gathered over the past four and a half
years from running four cohorts and feedback received from fintechs, banking partners, and other
stakeholders.
• Cohorts Focus: The Regulatory Sandbox (RS) operates through different cohorts, each
concentrating on areas such as financial inclusion, payments, lending, and digital Know Your
Customer (KYC).
About RBI :
State Bank of India Discusses Relaxation of Cash Reserve Ratio Requirement with Reserve Bank of
India to Encourage Green Deposits
• The State Bank of India (SBI) has requested the Reserve Bank of India (RBI) for a lower cash
reserve ratio (CRR) on green deposits raised from customers.
• CRR Definition: Cash Reserve Ratio (CRR) is the percentage of cash that banks are required to
maintain with the Reserve Bank of India (RBI) against their total deposits.
• Current CRR Requirement: Currently, banks must maintain a CRR of 4.5% on their total deposits,
with no special treatment for green deposits.
.
• SBI's Proposals: SBI has proposed two options: reducing CRR on green deposits and integrating
this relaxation into the overall policy for all banks.
About SBI :
Goldman Sachs Issues Double Downgrades for SBI and ICICI Bank
• The global investment banking firm, Goldman Sachs, has downgraded State Bank of India (SBI)
and ICICI Bank, signalling the end of the "Goldilocks period" for banks.
• Earnings Estimate Cut: The report highlights a 5% to 2% reduction in earnings estimates across
the coverage universe for FY25E/26E, with the aggregate Profit After Tax (PAT) falling below
consensus by 2%/1% for FY25/26.
• Challenging Outlook: Goldman Sachs notes a challenging near-term outlook for the financial
sector, indicating the conclusion of the Goldilocks period characterized by strong growth and
visible profitability.
Financial Intelligence Unit-India imposes a penalty of Rs. 5,49,00,000 on Paytm Payments Bank Limited
regarding violations of its obligations under PMLA
• The Financial Intelligence Unit-India (FIU-IND), in furtherance of the powers conferred upon the
Director FIU-IND under Section 13(2)(d) of the Prevention of Money Laundering Act (PMLA), 2002,
has imposed a monetary penalty of Rs. 5,49,00,000 on Paytm Payments Bank Limited regarding
the violations of its obligations under the PMLA read with the Prevention of Money Laundering
(Maintenance of Records) Rules, 2005 (PML Rules) issued thereunder and applicable guidelines
and advisories issued by the Director FIU-IND.
• The action comes just a month after the Reserve Bank of India (RBI) barred it from accepting
deposits, credit transactions or top-ups,
About FIU-IND :
• Founded : November 18, 2004
• Headquarters : New Delhi
.
• Financial Intelligence Unit-India (FIU-IND) is an organisation under the Department of Revenue,

Government of India which collects financial intelligence about offences under the Prevention of
Money Laundering Act, 2002.
Off-Peak UPI Transactions in February Decline, Amounting to 18.28 Trillion
• After starting 2024 on a strong note, the Unified Payments Interface (UPI) saw transactions dip
slightly in February but remain above December 2023 levels.
• Transactions worth ₹18.28-lakh crore were processed during February, nearly 1% lower than the
peak of ₹18.41 lakh crore in January 2024.
• The value of transactions was 48% higher year-on-year, as per data by the National Payments
Corporation of India (NPCI).
• The number of transactions on the UPI network decreased by 0.8% in February, totalling 1,210
crore transactions compared to 1,220 crore transactions in January.
About UPI :
mobile application.
State Bank of India Achieves Landmark of 500 Million Customers

• The State Bank of India (SBI), India's largest public sector lender, announced that it has crossed
the significant milestone of having over 50 crore customers, marking a monumental achievement
for the bank.
• Social Media Announcement: SBI made the announcement via its social media channels,
highlighting the milestone and the significance it holds for the bank.
• Chairman's Acknowledgment: Upon reaching this milestone, Dinesh Khara, the
Chairman of SBI, expressed gratitude to the bank's customers for their trust and support.
• Market Valuation: In addition to the customer milestone, SBI surpassed IT giant Infosys to become
the 5th most valued firm in the country by market valuation.
Government Establishes Panel Led by T V Somanathan to Conclude Uniform Know Your Customer
Standards
.
• The government of India has formed an expert committee headed by Finance Secretary T V
Somanathan to make its recommendations to bring out uniform Know Your Customer (KYC)
norms.
• The committee comprises members from various ministries and regulatory bodies, reflecting a
collaborative effort to address KYC standardization.
• The formation of the committee follows discussions at the Finance Stability and Development
Council (FSDC) meeting on February 21, highlighting the imperative to simplify and digitize the
KYC process in the financial sector.
Major Financial Institutions Mandated to Disclose Climate Change Risk Management Frameworks by
Fiscal Year 2026
• Banks and large finance companies are mandated to disclose their governance, strategy, and risk
management structures to address climate change risks by Fiscal Year 2026 (FY26).
• Draft Disclosure Framework: The central bank has released a draft disclosure framework titled
"Disclosure Framework on Climate-related Financial Risks, 2024."
• Applicability: The framework applies to various financial institutions, including scheduled
commercial banks, urban cooperative banks, financial institutions, non-banking financial
companies, and foreign banks operating in India.
Reserve Bank of India Reports Increase to 60.3% in Share of Term Deposits Among Banks' Total
Deposits in December 2023
• According to the Reserve Bank of India’s (RBI) quarterly data, the share of term deposits in
scheduled commercial banks (SCBs) total deposits increased to 60.3% in December 2023 from
57.2% in March 2023.
• Rising return on term deposits (TDs) is driving the compositional shift in deposits of SCBs.
• The term deposit is a contract between the bank and the customer for a definite term and it cannot
be paid prematurely at the bank's option-.
• Term deposit can be paid prematurely at the request of the customer.
Vadodara Municipal Corporation Launches First Certified Green Municipal Bond in India and Asia,
Focused on Sustainable Water Infrastructure
• The Vadodara Municipal Corporation (VMC) issued Asia’s first certified Green Municipal Bond for
sustainable water infrastructure worth Rs 100 crore, aimed at fostering sustainable urban
.
development, aligned with the Paris Agreement, to enhance liquid wastewater management
infrastructure.
• Funding Source: Raised Rs 100 crore through the Certified Green Municipal Bond for Sustainable
Water Infrastructure.
•
Insurance Regulatory and Development Authority to Introduce Collateral Requirements for Reinsurance
Transactions with Cross-Border Reinsurers
• The Insurance Regulatory and Development Authority of India (IRDAI) intends to introduce
collaterals for reinsurance transactions with Cross Border Reinsurers (CBRs).
• Applicability and Timeline:The proposed guidelines outlined in an exposure draft will apply to all
reinsurance placements with CBRs by cedants or insurers from India, for reinsurance programs
from the financial year 2025-26 onwards.
• Need for Protection:IRDAI has observed an increase in premiums collected by CBRs from the
Indian reinsurance market and recognizes the importance of protecting the interests of Indian
reinsurers.
About IRDAI :
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries
in India.
RBI Mandates Standardized Format for Reporting Director, Managing Director, or Chief Executive
Officer Appointments/Reappointments in Asset Reconstruction Companies
• The Reserve Bank of India (RBI) has introduced a standardized format for Asset Reconstruction
Companies (ARCs) to provide information regarding candidates for director, Managing Director
(MD), or Chief Executive Officer (CEO) roles.
• As per section 3(6) of the Securitization and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002 (SARFAESI Act) and the guidelines attached to the circular dated
.
October 11, 2022, Asset Reconstruction Companies (ARCs) are required to obtain prior approval
of the RBI for the appointment or re-appointment of any director, MD or CEO.
Reserve Bank of India Announces National Electronic Funds Transfer Achieves New Record of 4.10
Crore Daily Transactions
• The National Electronic Funds Transfer (NEFT) has recorded its highest ever single-day
transactions with the payment system processing 4.10 crore transactions on that day.
• Growth Trends : Over the past decade (2014-23), NEFT and RTGS (Real Time Gross Settlement)
systems have experienced significant growth:
• NEFT: 700% increase in volume and 670% increase in value.
• RTGS: 200% increase in volume and 104% increase in value.
• 24/7 Operations: NEFT has been operational 24/7, 365 days a year since December 16, 2019,
while RTGS followed suit from December 14, 2020.
RBI Governor Shaktikanta Das Declares India's Share of Global Digital Payments Volume at 46%
• During the Digital Payments Awareness Week on March 4, 2024, the Reserve Bank of India (RBI)
Governor Shaktikanta Das revealed that digital transactions in India have experienced a
remarkable 90-fold increase over 12 years.
• Retail Digital Payments Statistics: Retail digital payments in India surged from 162 crore
transactions in the financial year 2012-13 to over 14,726 crore transactions in 2023-24 (till
February 2024).
• India's Global Share in Digital Transactions: India accounts for nearly 46% of the world's digital
transactions, based on 2022 data.
About RBI :
Reserve Bank of India Set to Introduce Interoperable Internet Banking Payment System in 2024
• The Reserve Bank of India (RBI) is working to allow interoperability for internet banking
transactions which is expected to be operational in 2024 and will facilitate quicker settlement of
funds for merchants.
.
• The move is aimed at addressing delays in the actual receipt of payments by merchants and is a
part of the regulator’s payment vision 2025.
• The RBI has approved implementing such a system for NPCI Bharat BillPay Limited (NBBL).
• The new system will facilitate quicker settlement of funds for merchants.
IIFL Finance Limited Faces Action under Section 45L(1)(b) of the Reserve Bank of India Act, 1934
• The Reserve Bank of India (RBI) invoked its authority under Section 45L(1)(b) of the Reserve Bank
of India Act, 1934, directing IIFL Finance Limited to immediately cease sanctioning or disbursing
gold loans, as well as from any activities involving the assignment, securitization, or sale of its
existing gold loan assets.
• Continued Servicing of Existing Portfolio: Despite the directive, IIFL Finance Ltd. is permitted to
continue servicing its existing gold loan portfolio through regular collection and recovery
procedures.
• Growth in Gold Loan Assets: The gold loan asset under management of IIFL Finance Ltd. has
demonstrated significant growth, increasing by 35% year-on-year to reach ₹24,692 crore.
Tata-Owned Air India Secures Favorable Three-Year Loan by Refinancing Short-Term Loans with State
Bank of India and Bank of Baroda
• Tata Group-owned Air India has refinanced its short-term loans with the State Bank of India (SBI)
and Bank of Baroda (BoB) to secure a three-year loan at an attractive rate.
• Purpose of the Loan: The newly secured Rs 19,000 crore loan will be utilized to finance Air India's
working capital requirements and to upgrade its aircraft fleet, emphasizing the strategic investment
in the airline's operations.
About SBI :
About BoB :
.
Flipkart Partners with Axis Bank to Introduce UPI Handle, Aiming to Compete with Third-Party Apps
• E-commerce platform Flipkart has ventured into the digital payments sector by launching its own
unified payments interface (UPI) handle, @fkaxis, in collaboration with Axis Bank.
• Alongside the UPI handle, Flipkart introduced the initiative 'India’s Most Rewarding UPI,' aimed at
providing unique and rewarding UPI experiences for users.
• Availability and Registration: Currently accessible to Android users through the Flipkart app, the
UPI handle allows users to register for a new UPI ID for seamless fund transfers and in-app
payments.
About Flipkart :
• Founded : 2007
• Headquarters : Bangalore, Karnataka
• CEO : Kalyan Krishnamurthy
About Axis Bank :
• Established : 3 December 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi
National Bank for Agriculture and Rural Development Initiates Pilot Programme for District-Level
Technology Exhibitions
• The National Bank for Agriculture and Rural Development (NABARD) has launched a pilot
programme under which technology exhibitions will be organised in the districts.
• Primary objective of the ODOE programme : To create a market for rural and grassroots
innovations, fostering economic growth and sustainability in rural areas.
• One-District One-Exhibition (ODOE): To start with, the NABARD has organised 3 ODOEs in
Bhadradri Kothagudem, Mahabubnagar and Nizambad districts in Telangana on February 15, 16
and 17, 2024.
About NABARD :
.
• It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Reserve Bank of India Prohibits JM Financial from Offering Financing Secured by Shares and
Debentures
• Under Section 45L(1)(b) of the Reserve Bank of India Act, 1934, the Reserve Bank of India has
directed regulated entity JM Financial Products Limited. (JMFPL) to cease and desist, with
immediate effect, from doing any form of financing against shares and debentures, including
sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against
subscription to debentures as the entity has been found violating regulatory guidelines.
• The action taken by the RBI is based on information provided by the Securities & Exchange Board
of India (SEBI), the market regulator, indicating that JMFPL has contravened regulatory norms.
About JMFPL :
• JMFPL is a subsidiary of JM Financial with assets under management (AUM) of Rs 7,197 crore.
• The company is focused on offering a broad suite of loan products, which are customised to suit
the needs of corporates, institutions, SMEs and individuals.
• JM Financial holds a 99.71% equity stake in JMFPL.
Paytm's Unified Payment Interface Transactions Decline by 7.6% in February 2024 - National Payments
Corporation of India Data
• The National Payments Corporation of India (NPCI) data reveals a decline in Paytm's Unified
Payments Interface (UPI) transactions, dropping to approximately 1.33 billion transactions in
February 2024 from 1.44 billion transactions in January 2024, marking a 7.6% decrease.
• Market Share Reduction: Paytm's share of UPI payments decreased to less than 11% in February,
down from around 11.8% in the previous month.
• This reflects a broader decline in Paytm's market share, which was at 12.8% in August, 2023.
About Paytm :
.

Submission of Statement on Centralised Information Management System Required for Money Transfer
Service Scheme
• All Authorised Persons who are Indian Agents under the Money Transfer Service Scheme (MTSS)
were required to submit a quarterly statement (within 15 days from the close of the quarter to
which it relates) on the quantum of remittances received through MTSS using the eXtensible
Business Reporting Language (XBRL) platform.
• With the launch of the Reserve Bank’s next-generation data warehouse viz., the Centralised
Information Management System (CIMS), it has been decided that the reporting of the aforesaid
statement will be done on CIMS portal (URL: https://sankalan.rbi.org.in/) with effect from the
quarter ending March 2024.
Reserve Bank of India's Ombudsman Schemes See a 68% Surge in Complaints to Over 7 Trillion in
2022-23
• According to the Annual Report of Ombudsman Schemes released by the Reserve Bank of India
(RBI) Customer complaints with the Reserve Bank Ombudsman were up by 68% in 2022-23.
• First Stand-Alone Report: The Annual Report of the Ombudsman Scheme 2022-23 is noteworthy
as it marks the first stand-alone report under the Reserve Bank Integrated Ombudsman Scheme
(RB-IOS), 2021.
• This report elaborates on the activities of the 22 Offices of the RBI Ombudsman (ORBIOs), the
Centralised Receipt and Processing Centre (CRPC), and the Contact Centre throughout the year.
L&T Finance, L&T Infra Credit, and 5 Other Non-Banking Financial Companies Voluntarily Surrender
Registration Certificates to the Reserve Bank of India
• L&T Finance, L&T Infra Credit, and 5 other non-banking financial companies (NBFCs) have
surrendered their certificates of registration (CoR) to the Reserve Bank of India (RBI).
• Following this, the RBI cancelled its Certificate of Registration (CoR) as it ceased to be a legal
entity after amalgamation, merger, dissolution or voluntary strike-off
• List of Companies: The 7 NBFCs involved in this action are:
1. L&T Finance Limited, Kolkata, West Bengal
2. L&T Infra Credit Limited, Mumbai, Maharashtra (the youngest NBFC among them, registered
in June 2022)
.
3. Marudhar Food & Credit Limited, Kolkata, West Bengal (the oldest NBFC among them,
registered in November 2003)
4. Creative Intra Limited, Ludhiana, Punjab
5. Jinvani Trading & Investment Company Private Limited, Bangalore, Karnataka
6. Manjushree Fincap Private Limited, Bangalore, Karnataka
7. Shruti Financial Services Private Limited, Bangalore, Karnataka
•
L&T Finance Secures $125 Million Financing Agreement with Japan International Cooperation Agency
(JICA)
• Non-banking financial company (NBFC) L&T Finance Holdings Limited (LTFH) had signed a
financing pact with Japan International Cooperation Agency (JICA) for $125 million to support
financing in rural and peri-urban areas [located between the outer limits of urban and rural
environment] in India, particularly women borrowers.
• In November 2023, L&T Finance sourced a $125 million loan from the Asian Development Bank
(ADB), and as part of the co-financing agreement, an additional $125 million loan is now being
raised from JICA.
• At least 40% of the proceeds will be allocated for women borrowers, while the rest will be allocated
to support farmers, the Ministry of Micro, Small and Medium Enterprises (MSMEs), as well as
loans to purchase new two-wheeler vehicles including electric two-wheelers.
About JICA :
• Established : October 1, 2003
• Headquarters: Tokyo, Japan
• President: Akihiko Tanaka
• The Japan International Cooperation Agency is a governmental agency that delivers the bulk of
Official Development Assistance for the government of Japan.
Securities and Exchange Board of India’s T+0 Settlement Plan to Begin on Optional Basis by March 28,
Says Chairperson Madhabi Puri Buch
• The Securities and Exchange Board of India (SEBI) plans to implement a T+0 (same day)
settlement cycle for the cash segment from March 28 on an optional basis, while instantaneous
settlement will be effective from March 2025.
.
• T+0 would mean settlements in the same day and instant settlement would ensure trades are
settled immediately.
• Current Settlement Cycle: Presently, the Indian market operates on a T+1 (trade-plus-one-day)
settlement cycle, whereas most global markets settle trades on a T+2 basis.
IndusInd Bank Introduces India's First Contactless Payment Wearable 'Indus PayWear
• IndusInd Bank announced the launch of its contactless payments wearables, 'Indus PayWear,'
India's first All-in-One tokenizable wearables for both debit and credit cards exclusively on
Mastercard, with the offering to be extended to other card networks shortly.
• Aim : To revolutionise the payment experience by enabling users to tokenize their IndusInd Bank
credit or debit cards onto a chip-enabled wearable device.
• This feature enhances convenience and security by eliminating the need for physical cards or
payment apps.
• MD & CEO : Sumant Kathpalia.
• Tagline : We Make You Feel Richer
Securities and Exchange Board of India Implements Third Settlement Scheme for Illiquid Stock Option
Case
• The Capital markets regulator Securities Exchange Board of India (SEBI) introduced a third
settlement scheme for entities involved in reversal trades in the stock options segment on BSE in
2014 and 2015.
• The scheme will commence on March 11 2024 and end on May 10, 2024 (with both days
inclusive).
• After the expiry of the scheme period, actions as per the relevant provisions of securities laws will
be continued against the entities which do not avail this opportunity for settlement.
• Aim :To expedite the conclusion of proceedings, enabling entities to avoid further delays and the
associated legal processes or expenses.
About SEBI :
.

SEBI Releases Guidelines for Small and Medium REITs to Govern Fractional Ownership of Real Estate
• The Securities and Exchange Board of India (SEBI) has issued regulations to amend the REIT
Regulations 2014, establishing guidelines for the creation of Small and Medium Real Estate
Investment Trusts, or SM REITs.
• Aim :To regulate the fractional ownership industry and safeguard investor interests, incorporating
both commercial and residential properties within the new framework.
• Fundraising Threshold : Under the new framework, SM REITs can raise funds starting from ₹50
crore by issuing units to a minimum of 200 investors.
• Utilization of Funds : The funds will be utilised for acquiring and managing real estate assets and
generating income for investors.
About SEBI :
World Bank Commits $3 Billion to Egypt Following Agreement with International Monetary Fund
• Egypt is set to receive a $3 billion loan from the World Bank following an initial agreement with the
International Monetary Fund (IMF) to expand the IMF's loan arrangement, part of a larger $20
billion package from various international partners.
• Composition of $20 Billion Package:The $20 billion package includes approximately $11 billion
from international partners such as the World Bank, European Union, Japan, and the United
Kingdom (UK).
• Additionally, it incorporates the $8 billion IMF package agreed upon last week.
.
• Climate Finance Allocation Discussions:Ongoing discussions involve allocating $1 to 1.2 billion for
climate finance through the IMF's Resilience and Sustainability Facility.
About World Bank :
• Headquarters : Washington, D.C., United States
• President : Ajay Banga
About IMF :
• Managing Director : Kristalina Georgieva
• Membership : 190 countries (189 UN countries and Kosovo)
About Egypt :
• President : Abdel Fattah el-Sisi
• Prime Minister : Moustafa Madbouly
• Capital : Cairo
• Currency : Egyptian pound
Bajaj Allianz General Introduces 'Insurance Samjho,' an AI-powered bot Powered by GenAI
• Leading private general insurer Bajaj Allianz General Insurance launched "Insurance Samjho", a
Gen AI-powered bot designed to simplify insurance complexities for customers.
• Aim : To address the dissatisfaction of policyholders during claim settlement arising due to lack of
understanding, intricate details and fine print of the insurance policy.
• Functionality: "Insurance Samjho" offers a user-friendly interface with intuitive AI capabilities to
break down complex insurance terms into simple, conversational language.
• Virtual Assistant: The bot serves as a virtual assistant, allowing customers to ask questions about
their coverage, exclusions, procedures, or seek clarity on specific medical conditions.
About bajaj allianz general insurance :
• Founded : 2000
• Headquarters : Pune, Maharashtra
• MD & CEO : Tapan Singhel
Pension Fund Regulatory and Development Authority Chairperson Deepak Mohanty Unveils Mobile
App to Promote Financial Inclusion and Enhance NPS Engagement
.
• Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Deepak Mohanty has
launched a user-friendly web application developed by Zerodha Broking Limited, designed to
simplify access to the National Pension System (NPS) for subscribers.
• This new initiative is part of a broader strategy to increase the NPS's reach and streamline its
management.
• The application aims to provide a seamless experience for users, allowing them to easily manage
their NPS accounts.
About Zerodha Broking Limited :
• Founders: Nithin Kamath, Nikhil Kamath
• Zerodha Broking Limited is an Indian financial services company.
About PFRDA :
RBL Bank Introduces GO Savings Account with Zero Balance Requirement

• RBL Bank unveils the GO Savings Account, featuring a zero balance requirement, to encourage
savings and enhance banking accessibility.
• Interest Rates: The account offers attractive interest rates of up to 7.5% per annum.
• Premium Debit Card: Users benefit from a premium debit card.
• Vouchers: Subscribers receive vouchers worth ₹1,500 for premier brands, enhancing the value
proposition.
• Insurance Cover: The account includes comprehensive cyber insurance, accident insurance, and
travel insurance, providing coverage up to ₹1 crore.
About RBL Bank :
• Established : August 1943
• MD & CEO : R. Subramania kumar
• Tagline : Apno Ka Bank
.
Reserve Bank of India Prohibits Exclusive Agreements between Banks and Card Networks, Grants
Customers Freedom to Select Networks
• The Reserve Bank of India (RBI) has barred exclusive agreements between banks and card
networks and has allowed customers to choose the network at the time of issue under Section 18
read with Section 10(2) of the Payment and Settlement Systems Act, 2007.
• Customer Choice : At present, the card issued to a customer is decided by the card issuer
(bank/non-bank) and is linked to the arrangements that the card issuers have with card networks in
terms of their bilateral agreements.
About RBI :
30 banks enlist on Reserve Bank of India's UDGAM portal for unclaimed deposits
• The Reserve Bank of India (RBI) informed that 30 banks are facilitating people to search their
unclaimed deposits/accounts through Unclaimed Deposits-Gateway to Access inforMation
(UDGAM) portal, and the remaining banks are in the process of getting on-boarded.
• UDGAM is an online portal developed by RBI.
• It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in
one place in a centralised manner.
National Payments Corporation of India Calls Meeting with Third-Party App Players to Address Market
Share Stability on Unified Payments Interface
• The National Payments Corporation of India (NPCI) is actively exploring strategies to stabilise
market share dynamics on the Unified Payments Interface (UPI).
• NPCI has organised a meeting with third-party application players to discuss and address the
challenges associated with market share dynamics on UPI.
• 30% Cap Implementation: NPCI has proposed a 30% cap by volume for third-party payment
applications in the UPI market.
• Initially planned for implementation on January 1, 2023, the move has been postponed, and the
new deadline is set for December 31, 2024.
About NPCI :
• Founded : 2008
.

• The NPCI is an umbrella organisation for operating retail payments and settlement systems in
India.
provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Reserve Bank of India's Gold Reserves surged by 8.7 Trillion to Reach 812.3 Trillion in January 2024
• The Reserve Bank of India (RBI) increased its gold reserves in January after a two-month hiatus.
• RBI's gold acquisition in January amounted to 8.7 metric tons, marking the highest monthly
purchase in a year and a half.
• As of January's end, RBI's gold reserves reached an unprecedented level of 812.3 metric tons.
• In 2023, RBI's net gold purchases were substantially lower at 16.2 metric tons compared to
previous years, where annual net purchases averaged 47 metric tons from 2018 to 2022.
Infibeam Avenues gains over 9% on RBI's authorization for Payment Aggregator Licence
• Infibeam Avenues Ltd shares surged more than 9% in trade after the company announced that it
received the final authorisation for operating as an Online Payment Aggregator by the Reserve Bank of
India (RBI).
• Infibeam Avenues received this final authorisation from the RBI for operating as a payment aggregator
(PA) for its payment gateway brand, CCAvenue, on March 4.
• The in-principle approval for this authorization was granted in October 2022.
• The company informed that the Reserve Bank of India had introduced the payment aggregator
framework in March 2020, as per which, it is mandatory for payment gateways to secure an aggregator
license to acquire merchants as well as deliver cutting-edge digital payment acceptance solutions.
RBI, Bank Indonesia sign MoU to promote the use of local currencies for cross-border transactions
• The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of
Understanding (MoU) in Mumbai for establishing a framework to promote the use of local
currencies viz. the Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border
transactions.
• The MoU was signed by the Governor of the Reserve Bank of India Mr. Shaktikanta Das and the
Governor of Bank Indonesia Mr. Perry Warjiyo.
.
• This collaboration marks a key milestone in strengthening bilateral cooperation between RBI and
BI.
About Bank Indonesia:
• Bank Indonesia is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of
Java, which had been created in 1828 to serve the financial needs of the Dutch East Indies.
• Subsidiaries: Museum Bank Indonesia, Indonesische Overzeese Bank
• Founder: People's Consultative Assembly
• Headquarters: Central Jakarta, Indonesia
• Founded: 1 July 1953
• Currency: Indonesian rupiah
• Governor: Perry Warjiyo
About RBI :
• Established: 1 April 1935
• Governor: Shaktikanta Das
Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24
• Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising
its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 percent.
• This projection is underpinned by India's strong government expenditure, robust domestic
consumption, and its potential to capitalise on global trade shifts, particularly in the wake of
companies diversifying away from China.
• The upgraded forecast solidifies India's position as the fastest-growing economy among major G20
nations.
RBI tightens rules for credit and debit cards linked to business accounts
• The Reserve Bank of India (RBI) has tightened norms for credit and debit cards used for business
accounts.
• The banking regulator has told business card issuers to put in place an effective mechanism to
monitor the end use of funds.
• The central bank stated that card issuers shall not share card data (including transaction data) of
the cardholders with the outsourcing partners unless the sharing of such data is essential to
discharge the functions assigned to the latter.
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Centre Maintains Unchanged Interest Rates for Small Savings Schemes in April-June 2024 Quarter
• The Finance Ministry has announced that the interest rates for small savings schemes for the
upcoming quarter of April-June 2024 will remain the same as the rates applicable in the previous
quarter (January-March 2024).
Interest rates for various small savings schemes :
Small savings schemes Interest rates for April-June 2024
Savings deposits 4
1 year time deposits 6.9
2 year time deposits 7
5 year recurring deposits 6.7
Monthly income account scheme 7.4
National savings certificate 7.7
Senior citizen savings scheme 8.2
Public provident fund scheme 7.1
Kisan Vikas Patra 7.5
• About Ministry of Finance :

NPCI Partners with Nepal's Fonepay for Cross-Border Merchant Payments
• NPCI International Payments (NIPL), the international arm of the National Payments Corporation of
India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-
border Unified Payments Interface (UPI) transactions between India and Nepal.
• Aim : To facilitate QR-code-based person-to-merchant (P2M) UPI transactions between individuals
and merchants across the borders of India and Nepal.
.
About NPCI :
• Founded : 2008
• The NPCI is an umbrella organisation for operating retail payments and settlement systems in
India.
• It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under
the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Star Health’s total number of claims settled exceeds 1 crore mark
• Star Health, headquartered in Chennai, Tamil Nadu has achieved a significant milestone in the
insurance industry by becoming the first standalone health insurance company to settle over 1
crore claims since its establishment in 2006.
• Claim Disbursement: Over the years, Star Health has disbursed claim payments totalling more
than ₹44,000 crore, encompassing both cashless and reimbursement claims across the nation.
• Hospital Network: With a robust network comprising over 14,200 empanelled hospitals, Star Health
has efficiently settled more than 70% of customer claims, ensuring widespread coverage and
accessibility.
Cabinet Greenlights Extra Instalment of Dearness Allowance and Dearness Relief for Central
Government Employees and Pensioners
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release of an
additional instalment of Dearness Allowance (DA) to Central Government employees and
Dearness Relief (DR) to pensioners w.e.f.Jan 2024 representing an increase of 4% over the
existing rate of 46% of the Basic Pay/Pension, to compensate against the price rise.
• Following this hike, the dearness allowance (DA) and dearness relief (DR) will go up from 46% to
50%.
Small Industries Development Bank of India Secures $24.5 Million from Green Climate Fund for
'Avaana' Fund
• Development bank, Small Industries Development Bank of India (SIDBI) has received $24.5 million
from the Green Climate Fund (GCF) for its maiden first anchored project, Avaana Sustainability
Fund (ASF)' valued at $120 million.
.
• GCF approved SIDBI's project and committed the investment during its 38th board meeting in
Rwanda on March 5, 2024.
• The primary aim of the ASF project is to invest in early-stage companies harnessing technology-
led innovation to spur climate solutions and sustainability in India.
• Headquarters : Lucknow, Uttar Pradesh, India
• Chairman & MD : Sivasubramanian Ramann
• The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and
• It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).
Financial Experts Forecast Mandatory Listing for 6 Non-Banking Financial Companies in the Coming
Year 2025
• Tata Sons’ initial public offer (IPO) has been in focus for the past week.
• There are five other companies who also have to launch their offers in slightly-over one year.
• These include companies like Bajaj Housing Finance and five other shadow banks including
Piramal Capital and Housing Finance, Tata Capital Financial Services, HDB Financial Services,
and Aditya Birla Finance that must list in a year on account of being featured in Reserve Bank of
India’s list of ‘upper-layer’ non-banking financial companies.
Bank of Baroda Introduces Special Offers for Female Account Holders

• On the occasion of International Women’s Day (March 08, 2024), Bank of Baroda has announced
attractive offers and benefits for its women account holders on the opening of either a bob Mahila
Shakti Savings Account or a Bob Women Power Current Account – accounts designed specifically
for women.
• This offer is applicable for accounts opened till June 30, 2024 and loan facilities availed till
December 31, 2024.
• Aim : To empower women financially by providing them with tailored financial products and
attractive benefits.
About BoB :
• Founded : 20 July 1908
.
• MD and CEO : Debadatta Chand.

Following the Reserve Bank of India, JM Financial Faces Regulatory Scrutiny from the Securities and
Exchange Board of India
• The Market regulator Securities and Exchange Board of India (SEBI) barred JM Financial, a
registered merchant banker, from acting as a lead manager for any new public issue of debt
securities.
• The order comes after the Reserve Bank of India (RBI) halted JM Financial Products, a subsidiary
of JM Financial, from extending loans against shares and debentures, including sanction and
disbursal of loans against initial public offering (IPO) and non-convertible debentures (NCDs).
• The SEBI stated that JM Financial may continue to act as a lead manager for public issue of debt
securities for a period of 60 days from the date of this Order.
About SEBI :
World Bank Approves Program to Enhance Rural Connectivity in Assam, Benefiting 1.8 Million Amid
Extreme Weather Conditions
• The World Bank’s Board of Executive Directors has approved the Assam Resilient Rural Bridges
Program, aimed at enhancing connectivity for over 1.8 million people residing in rural areas of
Assam, India, particularly during extreme weather conditions.
• The $452 million Assam Resilient Rural Bridges Program aims to strengthen the resilience and
management of roads and bridges to help people living in 1,739 villages gain round-the-year
access to wholesale markets, schools, hospitals, and places of work.
About World Bank :
.
• President : Ajay Banga
Reserve Bank of India's Gold Imports Exempted from Customs Duty and Agricultural Cess by Central
Government
● The Indian government has announced that gold imported by the Reserve Bank of India (RBI)
will be exempted from import duty and Agriculture Infrastructure Development Cess (AIDC).
● This exemption aims to facilitate the import of gold by the RBI for various purposes without
incurring additional taxes.
● Import Duty and AIDC: Typically, the import of gold attracts a 15% import duty, which includes a
5% AIDC.
● Tax Adjustment in January: In January, the government raised the import duty on gold and silver
findings and coins of precious metals from 11% to 15%.
● This adjustment was made to eliminate tax advantages associated with importing gold and silver
in finding form rather than in bars.
● Gold Import Scenario in India: India is the world's second-largest consumer of gold after China,
heavily relying on imports to meet domestic demand.
What is the Agriculture Infrastructure and Development Cess (AIDC)?

● AIDC is a tax imposed by the government on the commercial production of agricultural produce
to provide financial support for the development of agricultural infrastructure in India.
● It was proposed in the Budget 2021-22 as a means to generate funds specifically for the
development of agricultural infrastructure.
● Objective : To provide financial support for the development of agricultural infrastructure in India.
● The funds collected through this cess will be utilised for the creation and maintenance of
agricultural infrastructure such as cold storage facilities, warehouses, and market yards.
What is a Cess?
● Cess is a form of tax charged/levied over and above the base tax liability of a taxpayer.
● A cess is usually imposed additionally when the state or the central government looks to raise
funds for specific purposes.
● Cess is not a permanent source of revenue for the government, and it is discontinued when the
purpose of levying it is fulfilled.
.
About RBI :
Reserve Bank of India Directs Federal Bank and South Indian Bank to Halt Issuance of New Co-
Branded Credit Cards
● Following the directions by the Reserve Bank of India (RBI), private sector lenders Federal Bank
and South Indian Bank stopped issuing co-branded credit cards to new customers on account of
regulatory deficiencies.
● Both banks are taking steps to ensure compliance with the RBI's directives.
● South Indian Bank stated that it will refrain from onboarding new customers for its co-branded
credit cards until full compliance is achieved with the RBI's Master Direction on Credit Card and
Debit Card issuance.
● Headquarters : Aluva, Kochi, Kerala, India
● MD & CEO : Shyam Srinivasan
● Tagline : Your Perfect Banking Partner
About South Indian Bank :
● Founded : 1929
● Headquarters : Thrissur, Kerala, India
● MD & CEO : P R Seshadri
● Tagline : Experience Next-Generation Banking
Small Industries Development Bank of India and Pharmaceutical & Medical Devices Bureau of India ink
Memorandum of Understanding to provide credit support to Jan Aushadhi Kendras
● The Small Industries Development Bank of India (SIDBI) has signed a memorandum of
understanding (MoU) with the Pharmaceutical & Medical Devices Bureau of India (PMBI) to
provide term loan and working capital credit to Jan Aushadhi Kendras (JAKs) being set up by
aspiring entrepreneurs.
● JAKs are administered by PMBI, Department of Pharmaceuticals, Ministry of Health & Family
Welfare and Chemicals & Fertilizers and they provide generic medicines to citizens at affordable
prices under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP).
● There are more than 10000 operational JAK stores and the Hon'ble Prime Minister has
.
announced an ambitious plan to open an additional 15000 new JAK stores over the next 2 years.
Reserve Bank of India Levies Monetary Penalties on Bandhan Bank, Bank of India, and Indostar Capital
Finance for Regulatory Breaches
● The Reserve Bank of India (RBI) has imposed monetary penalties on 2 banks, Bank of India
(BoI), Bandhan Bank, and 1 non-banking finance company, Indostar Capital Finance Limited for
non-compliance with various regulatory norms.
● Bank of India has been penalized Rs 1.4 crore for non-compliance with RBI directions concerning
'interest rate on deposits', 'customer service in banks', 'interest rate on advances', and
contravention of provisions of Credit Information Companies Rules, 2006.
● Reasons for Bank of India Penalty: The penalty was imposed after statutory inspections
conducted by the RBI regarding the bank's financial position as of March 31, 2021, and March
31, 2022.
● Bank of India also failed to benchmark interest on certain floating rate retail loans and loans to
MSMEs to an external benchmark rate, and inaccurately reported data on large borrowers to
CRILC (Central Repository of Information on Large Credits).
● RBI has also imposed a penalty of Rs 29.55 lakh on private sector lender Bandhan Bank for non-
compliance with certain directions.
● Meanwhile, the RBI also said a penalty of Rs 13.60 lakh has been imposed on Indostar Capital
Finance Ltd for non-compliance with the 'Monitoring of Frauds in NBFCs (Reserve Bank)
Directions, 2016' and with certain provisions of KYC directions.
Bank of Baroda Introduces Green Term Deposit Scheme Offering 7.15% Interest Rate
● Bank of Baroda (BoB), one of India’s leading public sector banks, has announced the launch of
the Bob Earth Green Term Deposit Scheme with an aim to raise deposits that will be used to
finance eligible environment-friendly projects and sectors, fostering India’s transition to a green
.
and sustainable economy.

Key Points about Bob Earth Green Term Deposit Scheme :
➢ The Bob Earth Green Term Deposits offer depositors the opportunity to earn attractive interest
rates on a range of tenors and participate in India’s transition to a green and sustainable
economy.
➢ The bank offers interest rates up to 7.15% p.a. Eligible investors include the general public,
resident Indians, NRIs, and high-net-worth individuals (HNIs) for the BOB Earth Green Term
Deposit scheme.
● The scheme offers customers the dual benefits of stable financial returns and contribution
to a greener planet.
➢ Tenors Amount
● ₹5,000 to Below ₹2 Crore
➢ Interest Rate
● 1 year i.e. 12 months 6.75
● 1.5 years i.e. 18 Months 6.75
● 777 days 7.15
● 1111 days 6.40
● 1717 days 6.40
● 2201 days 6.40
➢ Under the bob Earth Green Term Deposit Scheme, the Bank of Baroda has introduced some
innovative tenures that act as a reminder of the planet’s Climate & Sustainability goals, such as a
tenure of 1.5 years – signifying the aim to limit global temperature rise to 1.5 degrees Celsius
above pre-industrial levels and Tenure 1717 days – doubly emphasizing the United Nations’ 17
Sustainable Development Goals
About BoB :
● Headquarters : Vadodara, Gujarat, India
● MD and CEO : Debadatta Chand.
● Tagline : India's International Bank
One97 Communications, Parent Company of Paytm, to Partner with 4 Banks for Unified Payments
Interface Integration
.
● The country's largest lender State Bank of India (SBI) has partnered with One97
Communications Limited (OCL), which runs Paytm brand and app, for its consumer Unified
Payment Interface (UPI) payments.
● Paytm's UPI was powered by Paytm Payments Bank Limited (PPBL) and since the RBI's action
on the latter, the mobile payments company has been forced to seek bank partnerships to
become a third-party application provider (TPAP), much like its larger competitors PhonePe and
Google Pay.
● Paytm had partnered with Axis Bank, Yes Bank and HDFC Bank for TPAP partnerships earlier.
● The transition is expected to be seamless and gradual, with the "@paytm" handle being retained.
● For most large UPI players, the regulatory body National Payments Corporation of India (NPCI)
insists that they should have at least 3 bank partners.
● The bank partners in UPI are payment service providers (PSP), which connect the TPAP to the
banking network.
What are Payment Service Providers (PSPs)?
● A payment service provider (PSP) is a third-party company that allows businesses to accept
electronic payments, such as credit cards and debit card payments.
● PSPs act as intermediaries between those who make payments, i.e. consumers, and those who
accept them, i.e. retailers.
Securities and Exchange Board of India Enhances Qualified Stockbrokers Framework to Enhance
Investor Confidence
● The Securities and Exchange Board of India (SEBI) has announced the expansion of the
Qualified Stockbroker (QSB) framework to include more brokers under enhanced obligations.
● This move aims to strengthen investor trust in the securities market.
● The decision will also help in strengthening the compliance culture among stockbrokers.
● New Parameters: The revised QSB framework includes new parameters for designating a
stockbroker as QSB:
➢ Compliance score of the stockbroker.
➢ Grievance redressal score of the stockbroker.
➢ Proprietary trading volumes of the stockbroker.
● Earlier Parameters: The QSB framework previously included the following parameters:
➢ Total number of active clients.
.
➢ Available total assets of clients.

➢ Trading volumes (excluding proprietary trading).
➢ End-of-day margin obligations (excluding proprietary obligations).
● Total Parameters: With the revision, the QSB framework now consists of 7 parameters for
designating a stockbroker as QSB.
SEBI Grants Approval for Beta Version Launch of T+0 Settlement from March 28
● The Capital markets regulator Securities and Exchange Board of India (SEBI) has approved the
launch of the beta version of the T+0 settlement on an optional basis from March 28, 2024.
● On March 15,2024 after a meeting with its Board, SEBI announced the new and optional
settlement cycle.
Definition of T+0 Settlement :
● T+0 settlement means that the funds and securities for a transaction will be settled on the day
the trade was entered into.
● Beta Version Details : The beta version of the T+0 settlement will be launched for a limited set of
25 scrips and a limited set of brokers.
● Relaxations for Foreign Portfolio Investors (FPIs):SEBI also approved various relaxations for
FPIs to improve ease of doing business.
● Notably, FPIs holding not more than 50% of their India equity assets under management (AUM)
in the corporate group, excluding holding in the parent company with no identified promoter, are
eligible for certain relaxations.
India's Forex Reserves Grow by $10.47 Billion, Reaching $636.095 Billion

● According to the Reserve Bank of India (RBI), India's foreign exchange reserves surged by
$10.47 billion to reach $636.095 billion for the week ended March 8,2024.
● In the preceding reporting week, the overall reserves had grown by $6.55 billion to $625.626
billion.
● Special Drawing Rights (SDRs) rose by $31 million to $18.211 billion.
● India's reserve position with the International Monetary Fund (IMF) increased by $19 million to
$4.817 billion.
What are Foreign exchange reserves?
● Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other
reserve assets such as gold held by a central bank or other monetary authority that are primarily
.
available to balance payments of the country, influence the foreign exchange rate of its currency,
and to maintain confidence in financial markets.
● It is generally held in reserve currencies, usually the US Dollar and to a lesser degree the Euro,
Japanese Yen, and Pound Sterling.
Reserve Bank of India Purchases 8.7 Tonnes of Gold in January 2024, Marking Highest Acquisition in
Nearly 2 Years
● The Reserve Bank of India (RBI) bought 8.7 tonnes of gold in January 2024, making it the largest
purchase by the central bank since July 2022.
● According to the World Gold Council data, the RBI’s gold holding has climbed to 812.3 tonne in
January, from 803.58 tonne in December 2023.
● Purpose of Gold Purchase: The central bank is diversifying its forex reserves and hedging
against foreign currency risks by adding gold to its reserves.
● History of RBI's Gold Purchases: RBI began buying gold in 2018 to bolster its reserves.
● Notably, during the global financial crisis in 2009, it purchased 200 tonnes of gold.
● Gold Purchase in Current Financial Year: In the first 10 months of the current financial year, the
RBI has added nearly 17.7 tonnes of gold to its reserves.
● International Gold Purchases : Turkey, China and Kazakhstan also bought a significant volume of
yellow metal in January.
About World Gold Council (WGC) :
● Headquarters : London, United Kingdom
● The World Gold Council is the market development organisation for the gold industry.
● It works across all parts of the industry, from gold mining to investment, to stimulate and sustain
demand for gold.
● It was established to promote the use of and demand for gold through marketing, research, and
lobbying.
● WGC was the creator of the first gold exchange-traded fund.
Government of India and Asian Development Bank Ink $181 Million Loan Deal to Enhance Livability and
Mobility in Ahmedabad
● The Government of India (GoI) and the Asian Development Bank (ADB) signed a $181 million
.
loan to build quality infrastructure and services toward improving urban livability and mobility in
the peri-urban areas of Ahmedabad city in Gujarat.
● Aim : To make peri-urban areas of Ahmedabad livable, environmentally sustainable, and efficient
with robust physical and social infrastructure, a vibrant economy, and a distinct identity as a
preferred investment destination.
Key Highlights :
● Infrastructure Development: The project involves the construction of various infrastructure
components, including:
➢ 166 km of water distribution network
➢ 126 km of climate-resilient stormwater drainage
➢ 300 km of sewerage systems
➢ 4 sewage treatment plants
➢ Improvement of 10 junctions along Sardar Patel Ring Road.
● Beneficiaries: The project aims to benefit the urban poor, women, and migrant workers by
providing improved urban services and governance.
About ADB :
Arya.ag and Shivalik Bank Collaborate to Provide Rs 200 Crore in Commodity Financing for Farmers
● Grain commerce platform Arya.ag has partnered with Shivalik Small Finance Bank to assist
farmers, agro-processors, and micro-enterprises financially.
● Through this partnership, Arya.ag acts as a business correspondent for the bank to facilitate over
₹200 crore in warehouse receipt financing in the current financial year.
● Managing Director and CEO of Shivalik Small Finance Bank : Anshul Swami,
● Co-founder of Arya.ag : Anand Chandra
.
Numerous Asset Reconstruction Companies Close to Meeting Reserve Bank of India's Revised Net
Owned Fund Requirement
● Most of the asset reconstruction companies (ARCs), barring two or three, will be able to meet the
minimum net owned fund (NOF) norm of ₹200 crore by the March-end 2024 deadline.
● Many ARCs are within striking distance of the minimum NOF target of ₹200 crore, having
reached ₹175-180 crore by December-end 2023 due to improvement in recovery rate from
security receipts (SRs).
● Currently, there are 27 ARCs in India.
● For ARCs that existed as of October 11, 2022 (when the minimum NOF prescription was ₹100
crore), a glide path has been prescribed for achieving the minimum NOF target of ₹200 crore by
March-end 2024 and ₹300 crore by March-end 2026.
● Out of the 29 ARCs that existed when RBI revised upwards the minimum NOF norm in October
2022, 2 ARCs – Lone Star India Asset Reconstruction Private Limited and Arcion Revitalisation
Pvt Ltd have surrendered their licences.
What is meant by Asset Reconstruction Company?
● An Asset Reconstruction Company is a specialised financial institution that buys NPAs or bad
assets from banks and financial institutions so that the latter can clean up their balance sheets.
Stress Test Reveals Higher Risks for Large Mutual Funds, Especially in Small/Mid-Cap Sectors
● The market regulator, the Securities and Exchange Board of India (SEBI), mandated a stress test
on mid- and small-cap mutual fund schemes.
● The test revealed that some larger fund houses may face higher risks compared to their smaller
counterparts.
● Large fund houses, including HDFC MF and SBI MF, with assets of ₹28,597 crore and ₹25,534
crore, will take 42 and 60 days to sell 50 per cent of their assets in the event of heavy
redemption.
● On the other hand, smaller players like Edelweiss MF will take only 3 days to offload half of their
small-cap portfolio.
● Time to Liquidate Assets : According to Association of Mutual Funds in India (AMFI) data, it
would take between 60 and 3 days to liquidate 50% of a small-cap portfolio and 30 to 2 days to
offload 25% during heavy redemption.
.
● Mid-cap funds could liquidate 50% and 25% of their investments within a maximum of 34 and 17
days, respectively.
● Largest Fund House in Small-Cap Space:The largest fund house in the small-cap space, Nippon
India Mutual Fund, with an asset under management of ₹46,030 crore, has revealed that it can
sell 50% and 25% of its assets in 27 and 13 days, respectively.
Reserve Bank of India Renews Committee of Advisors for Abhyudaya Cooperative Bank
● Former Chief General Manager of the State Bank of India (SBI), Devendra Kumar has been
appointed to the 'Committee of Advisors' of Abhyudaya Cooperative Bank by the RBI following
the resignation of Mahendra Chhajed.
● Mahendra Chhajed resigned from the Committee effective from March 4, 2024, citing personal
reasons.
● The “Committee of Advisors” will now comprise of following members:
(i) Shri Devendra Kumar (former Chief General Manager, SBI);
(ii) Shri Venkatesh Hegde (former General Manager, SBI);
(iii) Shri Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).
About Abhyudaya Cooperative Bank :

● Abhyudaya Cooperative Bank started operations in 1964 and was granted 'scheduled bank
status' by the RBI in September 1988.
● It was registered as a Multi-State Co-op Bank by the Central Registrar, New Delhi, on January
11, 2007.
● The bank’s operations are primarily in three states: Maharashtra, Gujarat, and Karnataka.
January 2024 Sees 2% Increase in Outstanding Cards; HDFC Bank Surpasses 2 Crore Cards-in-Force
Milestone
● Cards-in-force increased steadily by 1.63 per cent in January 2024, inching close to the
milestone of 10 crore outstanding credit cards in India.
● The total number of credit cards stood at 9.95 crore as of the end of January 2024, aided by
HDFC Bank crossing 2 crore cards during the month.
● The number of credit cards rose by nearly 16 lakhs during the month, slower than 19 lakh
additions in December 2023.
.
● According to data from the Reserve Bank of India, banks such as American Express, Standard
Chartered, Union Bank and Bank of Maharashtra saw a slight decline in their cards during the
month.
● Among the top four issuers, HDFC Bank maintained its leadership position, adding 2.3 lakh cards
during the month to a total of 2.01 crore cards at the end of January.
● State Bank of India was a close second with 1.9 crore cards, followed by ICICI Bank which saw
the highest increase in cards on the back of 3.1 lakh additions.
Securities and Exchange Board of India Requires Index Providers to Register Within Regulatory
Framework
● The regulatory framework laid out for index providers by the Securities and Exchange Board of
India (SEBI) has come into effect, and this is aimed at strengthening transparency and
accountability in the administration of benchmark indices.
● Financial and Experience Criteria: Index providers must have a minimum net worth of Rs 25
crore and at least 5 years of experience in index administration.
● Oversight Committee Requirement: Index providers are mandated to establish an oversight
committee responsible for reviewing the existing index design and methodology to ensure
alignment with the index's nomenclature and description.
● Linkage to Financial Products : Moreover, several indices are linked to financial products such as
exchange-traded derivatives, index funds, exchange-traded funds (ETFs), and market-linked
debentures.
● Ownership and Management of Benchmarks: Currently, benchmark indices in India are owned
and managed by entities of the Bombay Stock Exchange (BSE) and the National Stock
Exchange (NSE).
Max India’s subsidiary Collaborates with Indian Institute of Technology Delhi for senior citizen care
● Max India Limited's wholly owned subsidiary, Antara Assisted Care Services Limited, has entered
into a Memorandum of Understanding (MoU) with the Indian Institute of Technology Delhi (IIT
Delhi) to develop offerings tailored specifically for the senior demographic.
● Collaborative Activities : The collaboration entails knowledge exchange, research consultancy,
Entrepreneurial Development Programs (EDPs), and the sharing of laboratory resources.
.
DFS Secretary Reveals Insurance Sector Attracted Rs 54,000 Crore FDI Over 9 Years
● Financial Services Secretary Vivek Joshi revealed that the insurance sector received
approximately Rs 54,000 crore in foreign direct investment (FDI) over the past 9 years due to
further liberalization of overseas capital flow norms by the government.
● Changes in FDI Limits: The permissible FDI limit in the insurance sector increased from 26% in
2014 to 49% in 2015 and then to 74% in 2021.
● The FDI limit for insurance intermediaries was raised to 100% in 2019.
● Insurance Penetration and Density: Insurance penetration increased from 3.9% in 2013-14 to 4%
in 2022-23, while insurance density rose from USD 52 to USD 92 during the same period.
● Insurance penetration is measured as the percentage of insurance premium to Gross domestic
product (GDP), while insurance density is calculated as the ratio of premium to population (per
capita premium).
What Is a Foreign Direct Investment (FDI)?
● Foreign direct investment (FDI) is an ownership stake in a foreign company or project made by
an investor, company, or government from another country.
National Bank for Agriculture and Rural Development to Introduce ₹1000 Crore Blended Fund for
Agricultural Startups
● The National Bank for Agriculture and Rural Development (NABARD) will launch a ₹1,000-crore
fund to bolster technology-driven agri-startups and rural enterprises.
● The fund will back startups facing challenges in scaling up their operations due to limited access
to equity and debt instruments and will seek to foster new linkages in the rural ecosystem, both
forward and backwards.
About NABARD :
● It was established on the recommendations of the B. Sivaraman Committee (by Act 61, 1981 of
.
5 Public Sector Undertakings Banks to reduce Government Shareholding to Comply with SEBI’s
Minimum Public Shareholding Norms: Department of Financial Services Secretary
● 5 public sector lenders, including Bank of Maharashtra, Indian Overseas Bank (IOB), and UCO
Bank, intend to decrease government stake to less than 75% to adhere to the Securities and
Exchange Board of India’s (SEBI) Minimum Public Shareholding (MPS) norms.
● Out of the 12 public sector banks (PSBs), 4 met the MPS norms as of March 31, 2023.
● Compliance Progress: During the current financial year, 3 more PSBs have achieved the
minimum 25% public float.
● The remaining 5 PSBs have devised action plans to meet MPS requirements.
● Government Holding Levels: Currently, government holding in Delhi-based Punjab & Sind Bank
is 98.25 per cent.
● It is followed by Chennai-based Indian Overseas Bank at 96.38 per cent, UCO Bank 95.39 per
cent, Central Bank of India 93.08 per cent, Bank of Maharashtra at 86.46 per cent.
● SEBI’s MPS Norms: SEBI mandates that all listed companies maintain a minimum public
shareholding of 25%.
Reserve Bank of India Cautions Public Against Using Public Charging Ports Due to Juice Jacking Risks
● The Reserve Bank of India (RBI) has issued a cautionary message to mobile phone users
advising them against charging their devices using public ports.
● The warning comes amidst growing concerns over the security risks posed by juice jacking, a
cyberattack where hackers tamper with public USB charging ports to steal data from connected
devices.
What is Juice jacking?
● The term “juice jacking” was first coined in 2011 by investigative journalist Brian Krebs.
● Juice jacking is a form of cyberattack where hackers tamper with public USB charging ports,
infecting them with malware or making hardware changes that allow them to steal data from
devices connected to them.
● This type of attack has been a growing concern, with incidents reported in various public spaces
such as airports, hotels, and shopping centres.
● RBI emphasised the importance of protecting personal and financial data while using mobile
devices.
.
Norway's Government Pension Fund Global, the World's Largest Sovereign Fund, Increases
Investments in India to $22 Billion in Calendar Year 2023
● Norway’s Government Pension Fund Global, the world’s largest sovereign wealth fund with a
portfolio value over $1.4 trillion, raised its India bets last year amid a surge in Indian equities.
● Foreign Portfolio Investors (FPIs):The increase in India's weight coincided with net purchases by
foreign portfolio investors (FPIs) amounting to over $20 billion.
● India's benchmark index Nifty 50 rose by 20.1% in CY23.
● Comparison with China:India has the second-largest weight in GPFG's emerging market portfolio
after China, whose weight reduced by 70 bps to 3.1%.
● The India weight in the fund’s equity portfolio rose from 1.6% at the end of CY21 to 2.2% by
CY23, indicating a significant increase over two years.
Top 10 Holdings of the Pension Fund among NSE firms :
1. ICICI Bank (₹7,331 crore)
2. Infosys (₹7,144 crore)
3. Axis Bank (₹6,416 crore)
4. Varun Beverages (₹3,976 crore)
5. M&M (₹3,184 crore).
6. Sun Pharmaceuticals Industries (₹3,180 crore)
7. Cipla (₹2,916 crore)
8. IndusInd bank (2,451 crore)
9. Grasim Industries (2,203 crore)
10. Hero Motocorp (2,106 crore)
● The top 10 investments amount to a market value of ₹40,911 crore.
● Emerging markets accounted for 10.2 per cent of the fund’s equity investments, lower than the
10.9 per cent at the end of CY22.
● The fund’s equity portfolio returned 21.3 per cent in 2023. The fund was invested in 8,859
companies at the end of 2023, down from 9,228 a year earlier.
● Technology stocks were the best performers in 2023 with a return of 51.9 percent.
● The fund’s top holdings include Microsoft ($33 billion), Apple ($31.3 billion), Alphabet ($18.1
billion), Amazon ($16.4 billion) and NVIDIA ($13.5 billion).
What is meant by a sovereign wealth fund?
.
● A Sovereign Wealth Fund (SWF) is a substantial pool of money owned and managed by a
government entity.
● It is usually funded by revenues generated from natural resources such as oil, gas, minerals, or
foreign exchange reserves.
● It acts as a savings account for the nation.
● It aims to preserve and grow wealth for future generations.
About the Government Pension Fund of Norway :
● The Government Pension Fund of Norway comprises two entirely separate sovereign wealth
funds owned by the government of Norway.
● It, also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the
Norwegian petroleum sector.
Securities and Exchange Board of India Proposes Introduction of Audio-Visual Disclosures for Public
Issue Documents
● The Securities and Exchange Board of India (SEBI) proposed the inclusion of audio-visual (AV)
representations in companies' offer documents for public issues.
● Aim : To facilitate investors in better comprehending the essential aspects of an offer.
● Introduction of AV Format: SEBI proposes that companies seeking listing on the main board
should provide disclosures from their Draft Red Herring Prospectus (DRHP) and Red Herring
Prospectus (RHP) in an Audio-Visual (AV) format.
● Bilingual Presentation: The AV presentations on public issues will be bilingual, available in
English and Hindi, to ensure accessibility to the public.
● Duration and Content: Each bilingual AV version is suggested to have a maximum duration of 8
minutes, evenly distributing the total duration among material disclosures.
● Timeline for Publication: The AV presentations must be published by the issuer or lead manager
within 5 working days during both the submission and resubmission stages of the Draft Red
Herring Prospectus (DRHP).
Banks' Issuance of Certificate of Deposit Surges 25% to Reach ₹7.89 Lakh Crore in FY24 Till March 8,
2024
● As per the RBI data, Fund mobilisation by Banks through Certificate of Deposit (CD) issuances
surged 25% year-on-year (y-o-y) to ₹7.89-lakh crore during the financial year so far (up to March
.
8, 2024).
● This comes in the backdrop of deposit growth lagging credit growth.
● Banks had mopped up ₹6.33-lakh crore via CD issuances a year ago.
What is a Certificate of Deposit (CD)?
● CD is a negotiable, unsecured money market instrument issued by a bank as a usance
promissory note against funds deposited at the bank for a maturity period of up to 1 year.
● They are issued in minimum denomination of ₹5 lakh and multiples of ₹5 lakh thereafter.
Reserve Bank of India Penalizes Tamilnad Mercantile Bank and DCB with Almost ₹2 Crore in Fines for
Breaching Lending Rate Regulations
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.3 crore on Tamilnad
Mercantile Bank Limited (TMBL) for non-compliance with certain directions issued by RBI on
‘Interest Rate on Advances’ and ‘Central Repository of Information on Large Credits (CRILC) -
Revision in Reporting’.
● Also, RBI imposed a monetary penalty of ₹63.6 lakh on DCB Bank Limited for non-compliance
with certain directions issued by RBI on ‘Interest Rate on Advances’.
● This penalty has been imposed in the exercise of powers vested in RBI conferred under the
provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Banking Regulation Act, 1949.
Government Considering Amendments to SARFAESI and DRT Legislation to Legally Recognize E-

Notices
● To speed up the debt recovery process, the Ministry of Finance (MoF) has set up a panel to
suggest amendments to the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest (SARFAESI) and Debt Recovery Tribunals (DRTs) Acts,
including a provision for granting legal sanctity to e-notices to debtors.
● The committee headed by an Additional Secretary held several meetings, and discussions are in
the advanced stage in this regard.
● Aim : To make the debt recovery process less tedious and more effective.
Background on DRTs Act & SARFAESI Act:
● The Debt Recovery Tribunals (DRTs) Act was enacted in 1993 to provide a legal framework for
the expeditious adjudication and recovery of debts due to banks and financial institutions.
● The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
.
(SARFAESI) Act 2002 was enacted to address these shortcomings and provide a more robust
framework for debt recovery.
Securities and Exchange Board of India Eases Regulations for Certain Offshore Funds
● Capital market regulator Securities and Exchange Board of India (SEBI) has exempted offshore
funds from naming their investors under certain circumstances.
● Criteria for Exemption:Offshore funds with more than 50% of their assets invested in a group of
companies are eligible for the exemption.
● In 2023, SEBI asked offshore funds with 50% of their assets in a single group of companies and
with more than 250 billion rupees ($3 billion) in Indian equity markets to disclose their investors.
● However, the SEBI stated that such offshore funds will still need to make required disclosures
within 10 days if they hold more than 3% of the company.
What are Offshore funds?
● Offshore funds are mutual funds that invest across overseas markets – multinational and
international corporations.
● Hence, they are also commonly referred to as international funds or foreign funds.
● Additionally, they may invest in fixed-income assets of a nation or region.
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
RBI organises Annual Conference of the RBI Ombudsmen

● The Reserve Bank of India (RBI) organised the Annual Conference of the RBI Ombudsmen, in
Mumbai, Maharashtra.
● The theme of the conference was “Protecting the Consumers – Building Robust Systems and
Procedures”.
● Shri Shaktikanta Das, Governor of RBI, inaugurated the conference.
What is the Banking Ombudsman Scheme?
.
● The Banking Ombudsman Scheme provides a swift and cost-effective platform for bank
customers to address grievances related to specific services offered by banks.
● It was established under Section 35 A of the Banking Regulation Act, 1949, by the Reserve Bank
of India (RBI) in 1995.
● The current version of the scheme is the Banking Ombudsman Scheme 2006, which
incorporates amendments made up to July 1, 2017.
Who is a Banking Ombudsman?
● The Banking Ombudsman is appointed by the Reserve Bank of India (RBI).
● Their primary role is to address customer complaints regarding deficiencies in certain banking
services.
● The Banking Ombudsman Scheme 2006, amended up to July 1, 2017, outlines the grounds for
complaints.
● Complaints covered under the scheme are specified in Clause 8.
● The scheme aims to provide a mechanism for the resolution of disputes between banks and their
customers.
About RBI :
Finance Ministry Introduces ₹90 Coin to Commemorate 90 Years of Reserve Bank of India
● The Finance Ministry announced the release of a unique ₹90 denomination coin to mark the 90th
anniversary of the Reserve Bank of India (RBI).
● Crafted with 99.99% silver purity, the coin weighs approximately 40 grams and has a diameter of
44mm.
● It features 200 serrations along the edge, symbolizing the historical significance and
achievements of the RBI over nine decades.
● Obverse Side:The obverse side of the coin showcases the iconic RBI logo at the center, with the
inscription “RBI@90” below, representing the institution's enduring legacy and contribution to
India's financial stability.
● Reverse Side:The reverse side of the coin displays the Lion Capital of Ashoka Pillar, symbolizing
India's rich heritage and democratic values.
.
● The national motto “Satyamev Jayate” (Truth Alone Triumphs) is inscribed in Devanagari script
below the Ashoka Pillar.
States and Union Territories Raise ₹50,206 Crores through Auction of State Government Securities
● The weighted average cut-off at the biggest weekly auction of State Government Securities
(SGS) so far in FY24 rose 7 basis points (bps) due to the huge supply of paper.
● 16 States and 1 Union Territory (UT) cumulatively mopped up ₹50,206 crore via auction of SGS.
● The amount raised surpassed the planned borrowing of ₹27,810 crore as per the Indicative
Calendar of Market borrowings.
● The weighted average cut-off of SGS rose to 7.45% on March 19, 2024, from 7.38% the previous
week.
What is Government Security (G-Sec)?
● Government Securities (G-Secs) are financial instruments that can be bought and sold, issued by
either the Central Government or State Governments.
● They serve as official acknowledgments of the government's debt obligations.
● G-Secs come in two main types: short-term, known as treasury bills, with original maturities of
less than one year, and long-term, referred to as Government bonds or dated securities, with
original maturities of one year or more.
● While both types of G-Secs are issued by the Central Government in India, only bonds or dated
securities, known as State Development Loans (SDLs), are issued by State Governments.
● G-Secs are considered extremely safe investments because they carry minimal risk of default,
earning them the reputation of being risk-free gilt-edged instruments.
Citibank Set to Introduce Digital Payments Product "Spring" in India in Q2

● Citibank plans to launch its digital payments acceptance product ‘Spring by Citi’ in India in the
second quarter of this year (April-June).
● Currently available in about 24 countries, Spring by Citi processes business-to-business and
direct-to-customer payments, and integrates with payment methods across geographies.
● Citibank manages significant portions of electronic payment flows (4.3%), trade flows (8%), and
.
Swift payments (25%) in India.

● The proposed launch comes over a year after Citi exited retail banking in India by selling its
business to Axis Bank.
● It now focuses on large local companies, multinationals, financial institutions, and emerging and
mid-sized firms.
● Spring was developed by Citi's Treasury and Trade Solutions business, a segment that
comprises payments, working-capital solutions, and liquidity management.
Reserve Bank of India Establishes Omnibus Framework for Recognizing Self-Regulatory Organizations
for Regulated Entities
● The Reserve Bank of India (RBI) has finalised the Omnibus Framework for recognising Self-
Regulatory Organisations (SRO) for its Regulated Entities (REs).
● Separate SROs for Each Sector:Each sector of the regulated entities (RE) including fintechs will
have a separate SRO and with the finalisation of the framework the RBI will receive applications
from various entities seeking to get SRO status.
● Contents of Omnibus Framework :The omnibus framework contains broad parameters viz.,
objectives, responsibilities, eligibility criteria, governance standards, application process and
other basic conditions for grant of recognition, which will be common for any SRO proposed to be
recognized by the Reserve Bank.
● A draft framework titled 'Draft Omnibus Framework for Recognizing Self-Regulatory
Organizations for its Regulated Entities' was released for public comments on December 21,
2023.
What is an SRO?
● An SRO is a non-governmental organisation that sets and enforces rules and standards relating
to the conduct of entities in the industry (members) with the aim of protecting the customer and
promoting ethics, equality, and professionalism.
● These typically collaborate with all stakeholders in framing rules and regulations.
What are the functions of an SRO?
● The recognised SRO will serve as a two-way communication channel between its members and
the RBI.
● It will work towards establishing minimum benchmarks and standards and help instil professional
and healthy market behaviour among its members.
.
● These will impart training to the staff of its members and others and will conduct awareness
programmes.
● It will establish a uniform grievance redressal and dispute management framework across its
members.
Income Tax Department Levies Rs 103.63 Crore Penalty on Tata Chemicals

● The Income Tax Department has imposed a penalty of Rs 103.63 crore on Tata Chemicals for
violation related to disallowance of interest.
● The penalty has been imposed under Section 270A of the Income Tax Act for disallowance of
interest under section 36(1)(iii) of the Act.
● Based on the merits of the matter, prevailing law and the advice of the counsel, Tata Chemicals
said it is planning to appeal against this order before the National Faceless Appeal Centre
(appellate authorities).
About Income Tax Department :
● The Income Tax Department is a government agency undertaking direct tax collection of the
government of India.
● It functions under the Department of Revenue of the Ministry of Finance.
● It is headed by the apex body Central Board of Direct Taxes (CBDT).
SEBI Orders Association of Mutual Funds in India to Halt Investments in Mutual Funds' Overseas
Schemes Starting from April 1,2024
● Capital market regulator Securities and Exchange Board of India (SEBI) has directed the
Association of Mutual Funds to stop inflows into overseas exchange-traded funds (ETF) from
April 1, 2024 as it is approaching the overall limit of $1 billion set by the Reserve Bank of India
(RBI).
● In January 2022, SEBI stopped mutual fund houses from taking fresh subscriptions in schemes
investing in overseas stocks.
● After the recent fall in the overseas market, it eased with the strict overall industry cap of $7
billion.
● SEBI has also directed mutual funds to value the utilisation of overseas investment limits based
on the cost of acquisition and not as per current market valuation of the investment.
● Current Scenario : Presently, there are 77 mutual fund schemes in India that invest overseas.
.
International Monetary Fund to Disburse $1.1 Billion from Bailout Fund to Pakistan
● Pakistan and the International Monetary Fund (IMF) reached a preliminary agreement for the
release of $1.1 billion from a $3 billion bailout following days long talks in Islamabad.
● Under the deal, Pakistan will receive the final tranche from the bailout that was approved by the
IMF in July to save the nation from defaulting on its debt repayments.
● The announcement came after talks between the IMF and the new government of Prime Minister
Shehbaz Sharif concluded in Islamabad.
What is the meaning of bailout?
● Bailout is a general term for extending financial support to a company or a country facing a
potential bankruptcy threat.
● It can take the form of loans, cash, bonds, or stock purchases.
● A bailout may or may not require reimbursement and is often accompanied by greater
government oversight and regulations.
About IMF :
Merchant Discount Rate Continues to Stifle Growth of RuPay Credit Cards

● Despite efforts from the government and the Reserve Bank of India (RBI), the adoption of Unified
Payments Interface (UPI)-linked RuPay credit cards among merchants remains low.
What is Merchant Discount Rate (MDR):
● The MDR is a fee charged by banks for processing transactions.
● The fee is usually a percentage of the total transaction amount and is used to cover the costs
associated with processing payments.
● The MDR is typically between 1% and 3%.
● MDR charges are expressed as a percentage of the transaction amount.
Fintech Loan Volume Surges by 46% in Third Quarter (Q3): Report

● Fintech Association for Consumer Empowerment (FACE), an industry body for digital lenders,
stated that in the 9th edition of its FACETS report that its member companies disbursed loans
.
amounting to ₹33,922 crore in the third quarter of financial year 2024, which is a 46 per cent
year-on-year (Y-o-Y) increase from Q3 FY23.
● Loan Volume Growth: The number of loans disbursed in Q2 FY24 increased by 12% year-on-
year, reaching approximately 2.5 crore loans, compared to 17.5 million loans in Q2 FY23.
● NBFC Exposure and Profitability: Companies with non-banking financial companies (NBFCs)
reported that 76% of assets under management were on-balance exposure.
● Around 80% of the companies, based on data from 28 members, were profitable.
Reserve Bank of India Initiates Special Audit for IIFL Finance and JM Financial Products Beginning
April 12,2024
● The Reserve Bank of India (RBI) will commence a special audit of IIFL Finance Limited and JM
Financial Products Ltd (JMFPL) from April 12, 2024, to further investigate their regulatory
breaches.
● Tendering Process for Audit Firms:The regulator has initiated an e-tender to seek interest from
audit firms to conduct a special audit of these two non-banking finance companies.
● Audit firms empanelled by Securities and Exchange Board of India (SEBI) for forensic audits can
participate in the tendering process.
● Awarding of Work:The selected audit firms will be awarded work on April 12, 2024, to commence
the special audit process.
What is meant by eTender?
● Electronic tender, or eTender, is the process of sending and receiving bid tenders using online
procurement platforms.
● eTendering makes a huge difference to the procurement process as it offers improved visibility,
compliance and decision-making across source-to-pay (S2P) operations.
Reserve Bank of India and Bank Branches Open for Government Transactions on March 30th and 31st
● The Reserve Bank of India (RBI) has announced that its offices dealing with government
business and designated branches of agency banks conducting government banking business
will remain open during normal working hours on March 30, 2024 (Saturday) and March 31, 2024
(Sunday).
● Electronic transactions will be facilitated until the specified time on both March 30th and March
31st.
.
● Special Measures for Annual Closing: These arrangements are part of special measures for the
annual closing of government accounts for the financial year 2023-24.
● The aim is to ensure smooth transactions for central and state governments and provide greater
convenience to taxpayers.
● NEFT and RTGS Transactions: Transactions through the National Electronic Funds Transfer
(NEFT) and Real-Time Gross Settlement (RTGS) System will be operational until 2400 hours on
March 31, 2024.Reporting of Government Transactions: For reporting Central and State
government transactions to the Reserve Bank of India (RBI), including uploading of GST (goods
& service tax), TIN2.0 (taxpayer identification number), ICEGATE (Indian Customs EDI
Gateway), and e-receipts luggage files, the reporting window for March 31, 2024, will be
extended until 1200 hours noon on April 1, 2024.
Insurance Regulatory & Development Authority of India Introduces norms to enhance governance
● The Insurance Regulatory & Development Authority of India (IRDAI) has introduced a set of new
regulations to enhance the regulatory framework for the insurance industry.
● In its meeting on March 19, 2024, IRDAI approved 8 principle-based consolidated regulations.
Key Highlights :
Focus Areas of the Regulations:
➢ Safeguarding policyholders' interests
➢ Responsibilities towards rural and social sectors
➢ Electronic insurance marketplace
➢ Foreign reinsurance branches
➢ Aspects of registration, actuarial, finance, investment, and corporate governance.
About IRDAI :
RBI Data Shows India's Forex Reserves Reach Record High of $642.292 Billion
.
● As per the latest data released by the Reserve Bank of India (RBI), India's foreign exchange
reserves rose for the fourth straight week to hit an all-time high of USD 642.292 billion in the
week ending on March 15, 2024.
● During the week, the foreign exchange reserves surged by USD 6.396 billion, contributing to the
overall rise.
● During the week, the foreign exchange reserves surged by USD 6.396 billion, following a rise of
USD 10.470 billion in the previous week.
● India's foreign currency assets (FCA), the largest component of forex reserves, increased by
USD 6.034 billion to USD 568.386 billion.
● Gold reserves also saw an uptick, rising by USD 425 million to USD 51.140 billion.
What are Forex reserves?
● Forex reserves, or foreign exchange reserves (FX reserves), are assets that are held by a
nation’s central bank or monetary authority.
● It is generally held in reserve currencies, usually the US Dollar and, to a lesser degree, the Euro,
Japanese Yen, and Pound Sterling.
Mutual Funds Impose Restrictions on Small-Cap Funds

● Fund houses operating sizable smallcap funds have announced a fresh set of curbs to manage
liquidity risk and address concerns raised by regulators.
● Franklin Templeton Mutual Fund (MF), managing nearly Rs 12,000 crore in its Franklin India
Smaller Companies Fund, has limited one-time investments to Rs 200,000 per month.
● For systematic investment plan (SIP) investors, the maximum monthly investment allowed is Rs
50,000.
● Restrictions by 4 Other Fund Houses: Apart from Franklin Templeton and Nippon India, SBI,
ICICI Prudential, Kotak, and Tata have also restricted flows into their smallcap funds.
● SEBI’s Instructions to Mutual Funds ; The SEBI has instructed MFs to address two fronts:
informing investors of the risks involved (through the disclosure of stress test outcomes) and
mitigating any identified risks.
Financial Year 2024 Expected to Witness Public Sector Banks' Dividend Payout Surpassing Rs 15,000
Crores
● Public sector banks (PSBs) are anticipated to pay a dividend exceeding Rs 15,000 crores for the
.
financial year ending March 2024, driven by improved profitability.

● Financial Performance: In the first three quarters of the current financial year, all 12 PSBs
collectively earned a total profit of Rs 98,000 crore, which is only Rs 7,000 crore less than the
entire fiscal year 2022-23.
● Record Profits: PSBs recorded their highest-ever aggregate net profit of Rs 1.05 lakh crore
during the fiscal year 2022-23, compared to Rs 66,539.98 crore in 2021-22.
● Government Dividend: The government received a dividend of Rs 13,804 crore from PSBs for
FY23, marking a significant increase of 58 per cent from the previous fiscal year.
● Regulatory Changes: The Reserve Bank of India (RBI) proposed draft guidelines in January to
allow banks with a net non-performing assets (NPAs) ratio of less than 6 per cent to declare
dividends.
● Implementation Timeline: The RBI's proposed guidelines are expected to come into effect from
the financial year 2024-25 onwards.
What are Public sector banks?
● PSBs are banks in which the government of a country owns a majority stake.
● In India, PSBs refer to nationalized banks, which are banks that were previously owned by
private individuals or entities and were subsequently nationalized by the government.
NPCI Subsidiary, Banks, and Fintechs Engage in Discussions for Collaborative Net Banking Strategies
● NPCI Bharat Bill Pay (NBBL), along with banks and fintech firms, are in discussions to implement
banking interoperability following approval from the Reserve Bank of India (RBI) for the project.
● NBBL is expected to commence work on establishing the necessary infrastructure for
interoperable transactions in April.
● Stakeholders Involved: Discussions are underway with major participants in the net banking
ecosystem, including leading banks like HDFC Bank, SBI, and ICICI Bank.
● RBI Approval: On March 4, the RBI approved the implementation of an interoperable payment
system for internet banking transactions by NBBL, a subsidiary of NPCI.
● RBI's Vision: The RBI aims to centralize all payment rails under a single payment system by
2025.
Exim Bank Grants $23 Million Line of Credit to Guyana for Aircraft Acquisition
.
● The Export-Import Bank of India (Exim Bank) strategically targets the defence market of South
America by extending a Line of Credit (LOC) of $23.37 million (about Rs 194 crore) to Guyana,
South America.
● Aim : To facilitate the procurement of two Dornier 228 aircraft from Hindustan Aeronautics Ltd
(HAL), a Navratna defence PSU, by Guyana.
● An agreement for the LOC was signed between Guyana's senior minister responsible for finance,
Ashni K Singh, and Exim Bank's deputy general manager, Sanjay Lamba, in the presence of
High Commissioner of India to Guyana, Amit Telang.
● Over the years, Guyana alone has received eleven LOCs of value aggregating $143.04 million
from the Exim Bank for capacity enhancement in sectors of defence, and others like the
construction of a cricket stadium in Georgetown, for East Bank-East Coast Road linkage project,
upgradation of three primary health centres, and installation of solar home lighting systems.
● With the addition of this LOC, Exim Bank has a total of 292 LOCs in place, covering 62 countries
across Africa, Asia, Latin America, CIS, and Oceania.
● The bank has credit commitments of approximately $2.72 billion available for financing exports
from India.
What is a line of credit?
● A line of credit (LOC) is a form of unsecured personal loan that allows people and organisations
to borrow money when they need it, pay it back, and borrow more without having to qualify for
another loan.
● An evergreen loan is a term often used to describe a line of credit.
About Export-Import Bank of India (Exim Bank) :
● Chairman & Managing Director : Ms. Harsha Bangari
● The Exim Bank is a specialized financial institution in India that was established in 1982.
● The bank's primary function is to finance, facilitate and promote India's international trade.
● It is owned by the Government of India and operates as a statutory corporation.
● Its operations are governed by the Export-Import Bank of India Act, 1981.
Bank of Japan Implements First Interest Rate Hike in 17 Years

● Japan's central bank has made a significant policy shift by raising its benchmark interest rate for
the first time in 17 years.
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● The central bank's move marks the end of a longstanding policy of negative interest rates aimed
at stimulating the economy.
● Rate Adjustment Details: The short-term interest rate has been increased to a range of 0 to 0.1
per cent from its previous level of minus 0.1 per cent.
● Historic Rate Hike: This rate hike is the first of its kind since February 2007, highlighting the rarity
and significance of the event.
About Bank of Japan :
● Headquarters : Chūō, Tokyo, Japan
● Governor : Kazuo Ueda
Private Banks Expand ATM Network While PSU Banks Decrease

● In the 12 months ending January 2024, public sector banks (PSUs) reduced their Automated
teller machine (ATM) network by 1,343 machines to 1,36,173 ATMs.
● In contrast, private banks expanded their ATM network by adding 3,502 ATMs, bringing their total
to 79,225 machines.
● This highlights the diverging strategies between PSU and private banks regarding ATM
deployment and network expansion.
● HDFC Bank has announced ambitious plans to add 1,500 branches during the financial year
2025.
● Reduction in Offsite ATMs by PSBs:PSBs have primarily reduced their offsite ATM deployment,
which decreased to 93,381 from 96,243 a year ago and 87,160 two years ago.
● Bandhan Bank's High ATM Transaction Rate:Bandhan Bank boasts the highest average
transactions per ATM, with 5,269 transactions.
● PSB and Private Bank ATM Distribution:Among PSU banks, Punjab National Bank leads in ATM
distribution, with 30 ATMs per one lakh debit cardholders.
● Bank of Baroda has the lowest number of ATMs per cardholder among PSU banks, standing at
11.
Motilal Oswal Predicts 24% Decline in Paytm Revenue

● Motilal Oswal Financial Services Limited estimates that Paytm's revenue for the financial year
2025 (FY25) could decline by 24% due to the regulatory restrictions imposed by the Reserve
Bank of India (RBI).
.
● The contribution profit of Paytm is expected to decline by 30% for FY25, indicating a substantial
impact on the company's profitability.
● Despite the decline in revenue and profit, the company's contribution margin is projected to
sustain at 51%, suggesting a relatively stable operational efficiency.
About Motilal Oswal Financial Services Limited :
● Founded : 1987
Insurance Regulatory and Development Authority of India Abandons Proposal to Relax Insurance
Surrender Fees
● The Insurance Regulatory and Development Authority of India (IRDAI) decided to keep most
existing surrender charges intact in the revised product regulations, providing relief to life
insurance company investors.
● Policyholders cancelling their policies will receive less compared to what was initially proposed
under the draft exposure norms aimed at curbing mis-selling in December 2023.
● Responsibility of Boards: Under the new norms, boards of insurance companies are tasked with
ensuring fair pricing in insurance products, highlighting the importance of governance and
oversight in the industry.
● Surrender Charges Status Quo: The revised product regulations largely maintain the status quo
on surrender charges, providing stability in this aspect of insurance policies.
● Revision of Special Surrender Charges: A revision of special surrender charges has been
introduced, benefiting policyholders by 10-15%, enhancing consumer protection in the insurance
sector.
● Objective of Draft Norms: The draft norms aimed to cap maximum surrender charges to
discourage premature policy exits, thereby curbing mis-selling practices and ensuring
policyholder interests are safeguarded.
State Bank of India and Axis Bank Innovate Mobile Apps to Expand Unified Payment Interface Market
Share
● Leading banks, such as State Bank of India (SBI) and Axis Bank are looking to increase their
Unified Payment Interface (UPI) market share by making innovations in their mobile application
that can be used by both customers and non-customers.
.
● Armed with third-party application provider licenses, these banks are aggressively entering the
UPI space, which is currently dominated by PhonePe, Google Pay, and Paytm.
● Revamped YONO 2.0 Platform: SBI is set to launch an upgraded YONO 2.0 platform accessible
to both customers and non-customers.
● National Payments Corporation of India(NPCI) data reveals that UPI transaction volumes
exceeded 12 billion, with a transaction value surpassing Rs 18 trillion in December.
● Other Banks Target Non-Customers: Besides SBI, YES Bank, Axis Bank, and ICICI Bank are
also targeting non-customers through their mobile applications, indicating a widespread trend in
the banking sector.
About UPI :
● Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
● It is developed by the National Payments Corporation of India (NPCI).
● It was introduced in April 2016.
Reserve Bank of India Holds 3 variable rate repo Auctions Amid Overnight Rates Surpassing marginal
standing facility Rate
● The Reserve Bank of India (RBI) conducted 3 variable rate repo (VRR) auctions to ease the
liquidity tightness in the banking system.
● As per the latest data by the RBI, The liquidity deficit in the system widened to ₹1.38 trillion.
● Consequently, weighted average money market rates rose above the marginal standing facility
(MSF) rate.
Details of VRR auctions:
● First 14-day VRR auction:
➢ Bids received: Rs 1.05 trillion against the notified amount of Rs 25,000 crore.
➢ Allotted funds: Rs 25,004 crore.
➢ Weighted average rate: 6.73 percent.
● Second 4-day VRR auction:
➢ Bids received: Rs 1.32 trillion against the notified amount of Rs 50,000 crore.
● Third 4-day VRR auction:
.
➢ Bids received: Rs 40,700 crore against the notified amount of Rs 50,000 crore.
HDFC Bank and TD Bank Group Collaborate to Enhance Banking Services for Indian Students in
Canada
● HDFC Bank and TD Bank Group have announced an expanded pact to support Indian students
planning to study in Canada.
● With this agreement, TD and HDFC Bank have announced a new referral programme where
HDFC Bank will refer students planning to study in Canada to TD’s International Student GIC
Program, which enables students to comply with the Government of Canada’s Student Direct
Stream (SDS) study permit pathway.
● Purpose of TD International Student GIC Program: To facilitate the opening of accounts digitally
for students and help them meet their study visa and living expense requirements in Canada.
About HDFC Bank :
Life Insurance Corporation of India Named World's Strongest Insurance Brand by Brand Finance
Insurance Report
● According to the Brand Finance Insurance 100 2024 report, Life Insurance Corporation of India
(LIC) is recognized as the world's strongest insurance brand, with a steady brand value of $9.8
billion, a brand strength index score of 88.3, and an associated AAA brand strength rating.
● Top Insurance Brands : Cathay Life Insurance is the second strongest brand, with a 9% increase
in brand value to $4.9 billion, followed by NRMA Insurance, which saw an 82% rise in brand
value to $1.3 billion.
● Meanwhile, Chinese insurance brands maintain dominance in the global rankings of most
valuable insurance brands, with Ping An leading with a 4% increase in brand value to $33.6
billion followed by China Life Insurance and CPIC retaining their 3rd and 5th positions,
respectively.
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● Allianz from Germany and AXA from France are holding on to their 2nd and 4th positions in the
top 5 rankings.
● Financial Performance of LIC: LIC achieved the highest first-year premium collection of Rs
39,090 crore in the financial year 2023, while SBI Life Insurance and HDFC Life Insurance led
the private sector with new business premium collections of Rs 15,197 crore and Rs 10,970
crore, respectively.
● Employee Benefits : The government also approved a 17% wage revision for LIC employees,
effective from August 2022, benefiting over 110,000 employees.
About LIC :
India's Forex Reserves Increase by $32.9 Billion on Balance of Payments Basis from April to December
2023
● India’s foreign exchange reserves increased by $32.9 billion during April-December 2023, on a
balance of payments basis (excluding valuation effects), as against a depletion of $14.7 billion
during the year-earlier period, data released by the Reserve Bank of India (RBI) showed.
● Nominal Increase in Forex Reserves: On a nominal basis, which includes valuation effects,
India's foreign exchange reserves saw a substantial increase of $44.0 billion during April to
December 2023.
● This contrasts with a decrease of $44.6 billion observed during the same period in the previous
year.
● Valuation Gain: The valuation gain amounted to $11.1 billion during April to December 2023.
What is balance of payments (BoP)?
● The Balance of Payments (BoP) is a systematic account that tracks all economic dealings
between a country's residents and the rest of the world over a defined period, typically annually.
● It operates on the principle of the Double Entry System and is structured into two sides: the
Credit side and the Debit side.
● The balance of payment is divided into three types:
➢ Current account
➢ Capital account
.
➢ Finance account
Tata Capital Raises $200 Million via Foreign Term Loans

● Tata Capital Limited, the flagship financial services company of the Rs 31-lakh crore Tata Group,
has raised $200 million through a three- year loan from Singapore's DBS Bank and Taiwan's
CTBC Bank.
● Tata Capital has the flexibility to price the loan at 120 basis points above the one month, three
months, or six months Secured Overnight Financing Rate (SOFR), aligning with market
movements.
● ECB Programme: The funds raised are part of Tata Capital's $750-million external commercial
borrowing (ECB) programme, in compliance with guidelines set by the Reserve Bank of India
(RBI).
● Financial Performance: Tata Capital reported a net profit of Rs 1,023 crore in the quarter ended
December 2023, marking a significant increase of 78% compared to the same period the
previous year.
● Credit Ratings:In Feb 2024, the Tata Capital Ltd obtained a first-time long-term issuer credit
rating of 'BBB-' from global rating agencies Standard and Poor's (S&P) and Fitch Ratings, which
is equivalent to India's sovereign rating.
About Tata Capital Limited :
● Founded : 2007
● MD & CEO : Rajiv Sabharwal
Insurance Regulatory and Development Authority of India Approves Creation of Bima Sugam: Online
Insurance Marketplace for Streamlined Policy Processes
● The Insurance Regulatory and Development Authority of India (IRDAI) has approved the
establishment of Bima Sugam, an online insurance marketplace, aimed at simplifying the process
of buying, selling, and servicing insurance policies, as well as settling claims.
● Single Interface for Insurance: Bima Sugam will serve as a single interface for customers,
intermediaries, and agents, facilitating the buying and selling of insurance policies across
insurers in various categories such as life, health, and non-life.
● E-commerce Platform: Bima Sugam functions as an e-commerce platform where insurance
.
companies can offer their products, providing customers with a seamless end-to-end digital
journey.
● Paperless Policies: The platform eliminates paperwork by offering policies in electronic format,
allowing customers to access all their policies (life, health, and non-life insurance) in one
application or window.
IRDAI Decision to Maintain Surrender Value Norms Seen as Favorable for Life Insurers by Analysts
● The Insurance Regulatory and Development Authority of India (IRDAI) decision to retain the
existing surrender value norms, amid requests from life insurance companies, is deemed positive
for the companies.
● The norms will be effective on April 1, 2024.
● In the new norms, the guaranteed surrender value (GSV) under the revised regulations for other
than single premium products is 30 percent if the policy is surrendered in the second year, 35 per
cent in the third year, 50 per cent between four years and seven years, and 90 per cent during
the last two years.
● For single premium products, the GSV will be 75 per cent if surrendered within three years and
90 per cent if surrendered in the last two years of the policy tenure.
● An industry official noted that the regulation is broadly in line with the existing regulation on
surrender value, with policyholders getting a near 8-10 percent benefit in longer tenure (above
five years) non-participating (non-par) policies.
Reserve Bank of India Unveils Monetary Policy Committee Schedule for Fiscal Year 2025; Inaugural
Meeting Set for April 3-5
● The Reserve Bank of India (RBI) released its monetary policy committee (MPC) schedule for the
upcoming financial year 2024-25 (FY25)- starting from April 1, 2024.
● The RBI in its schedule highlighted that the first policy meeting for FY25 will be conducted from
April 3-5, 2024.
Meeting Dates: The MPC meetings for FY25 are scheduled as follows:
➢ April 3-5, 2024
➢ June 5-7, 2024
➢ August 6-8, 2024
➢ October 7-9, 2024
.
➢ December 4-6, 2024

➢ February 5-7, 2025
➢ Repo Rate Maintained: In its meeting held from 6-8 February 2024, the RBI decided to maintain
the repo rate at 6.5%.
Decrease in Short-Term Rates Amid High Demand for Variable Rate Repo Auctions
● The Reserve Bank of India (RBI) received bids worth Rs 1.52 trillion against a notified amount of
Rs 1 trillion at the overnight variable rate repo (VRR) auction.
● The RBI allotted Rs 1 trillion at a weighted average rate of 6.73 per cent.
● The liquidity deficit in the banking system widened to Rs 1.22 trillion.
● Weighted average money market rates fell to 6.66 per cent, indicating a decrease from the
previous rate of 6.77 per cent.
● The central bank had conducted 3 VRR auctions to ease liquidity tightness in the banking
system.
Housing Finance Companies Anticipate 12-14% Growth in Assets Under Management for FY24 and
FY25
● According to CareEdge Ratings, Housing finance companies’ Assets under management (AUM)
is seen growing 12-14% in FY24 and FY25 led by continued growth According to CareEdge
Ratings, Housing finance companies’ Assets under management (AUM) is seen growing 12-14%
in FY24 and FY25 led by continued growth momentum in housing loans coupled with an
expected revival in developer loans.
● Although the share of wholesale financing in HFCs' portfolios is expected to increase in the
medium term, it is likely to remain cautious, hovering within the range of 10-12%.
● Comparison with Banks: Housing loans provided by banks stood at ₹19.4 lakh crore, highlighting
the substantial presence of both HFCs and banks in the housing loan market.
● Improvement in Net NPA: The Net NPA to net worth ratio for HFCs improved from 16.6% to
11.7%, indicating enhanced asset quality and financial stability.
● Provision Cover Ratio: The Stage 3 provision cover ratio, estimated at 42% as of March 2023, is
projected to remain healthy, ranging between 44-46% in the near to medium term, suggesting
adequate provisioning against potential loan defaults.
What is an Assets under management (AUM)?
.
● Assets under management (AUM) represent the collective market worth of investments held or
overseen by a financial entity, including banks, mutual funds, and hedge funds, for its clientele.
● AUM calculation methods vary, typically considering the total capital under the firm's
management or assessing the funds belonging to individual clients.
● This figure is subject to daily fluctuations, mirroring the dynamic returns derived from stocks,
mutual funds, and alterations in the prices of fixed investments.
Securities and Exchange Board of India Queries Mutual Funds on Potential Mis-selling of Funds
● India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has further
tightened scrutiny on mutual funds by asking whether they mis-sold certain fund categories to
investors.
● The categories under the lens include small-cap funds, retirement funds, credit risk funds and
lock-in funds.
● The latest action by SEBI aims to proactively address any potential issues and maintain oversight
in the mutual fund industry.
● Retirement Fund Lock-in Period:A retirement fund typically has a lock-in period of 5 years or until
retirement, whichever comes earlier.
● Types of Lock-in Funds:Lock-in funds include fixed maturity plans, target maturity plans, and
ELSS (equity-linked savings scheme), where investors are bound for the duration of the scheme.
● Credit Risk Fund:Credit risk funds primarily invest 65% of their portfolio in risky company bonds
to potentially achieve higher returns.
● Liquidation Periods:Top small-cap funds would take 6-30 days to liquidate 25% of their portfolio
and 12-60 days to liquidate 50% under stress conditions.
● Market Performance:Investors in small caps experienced an 8.5% pullback in the Nifty Small Cap
250 index from its record high on 7 February to 26 March.
● The Nifty Midcap 150 also declined by 3.7% from its record high on 8 February, despite the
broader Nifty index falling by just 2.3% from its record high on 11 March.
Star Health and Allied Insurance Company Limited to Provide Dollar-Denominated Insurance for NRIs
from GIFT City, Gujarat
● Star Health and Allied Insurance Company Limited will offer dollar-denominated insurance from
Gujarat International Finance Tec-City (GIFT City) for Non-Resident Indians (NRIs).
.
● Star Health became the first health insurance company to receive registration to establish an
International Financial Services Centre (IFSC) international office in GIFT City.
● It plans to commence operations with a branch by the end of this month, facilitating access to
health insurance solutions in US dollars for the global Indian community.
About Star Health and Allied Insurance Company Limited :
● Founded : 2006
● MD & CEO : Anand Roy
Government Releases Updated List of Banks Authorized for Gold and Silver Imports in Fiscal Year
2025
● The government has updated the list of banks authorized to import gold and silver during the
fiscal year 2024-25.
● The authorization for importing gold and silver has been granted by the Reserve Bank of India
(RBI), which is the central banking institution in India.
● The authorization is effective from April 1, 2024, indicating the beginning of the fiscal year, and it
will be valid until March 31 of the following year, aligning with the fiscal year-end.
● Authorized Banks: A total of 11 banks, including prominent ones like HDFC Bank and ICICI
Bank, have been authorized to import both gold and silver during 2024-25.
● Special Authorization for Gold Import: 3 banks - Indian Overseas Bank (IOB), Punjab National
Bank (PNB), and Union Bank of India (UBI) - have been specifically authorized to import only
gold during the fiscal year.
LIC, GIC Re, New India Remain Designated Systemically Important Insurers (D-SIIs) for 2023-24,
Confirms IRDAI
● The public sector insurance companies – Life Insurance Corporation of India (LIC), General
Insurance Corporation of India (GIC Re) and the New India Assurance Company continue to be
identified as Domestic Systemically Important Insurers (D-SIIs) by the Insurance Regulatory and
Development Authority of India (IRDAI).
What are Domestic Systemically Important Insurers?
● D-Slls refer to insurers of such size, market importance and domestic and global
interconnectedness, whose distress or failure would cause a significant dislocation in the
.
domestic financial system.

● Besides the perception that D-Slls are too big or too important to fail, the perceived expectation
of government support may amplify risk-taking, reduce market discipline, create competitive
distortions and increase the possibility of distress in the future.
● These considerations require that D-Slls be subjected to additional regulatory measures to deal
with systemic risks and moral hazard issues.
RBI Offices to Temporarily Halt Exchange and Deposit Services for ₹2000 Banknotes on April 1
● The Reserve Bank of India (RBI) announced that the facility to exchange or deposit Rs 2,000
banknotes will not be available on April 1, 2024 due to operations associated with the annual
closing of accounts.
● The facility will resume April 2, 2024 at the 19 issue offices of the RBI.
● The 19 RBI offices depositing/exchanging the bank notes are in Ahmedabad, Bengaluru,
Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu,
Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
Commodity Participants Association of India Urges Prompt Clarification Regarding RBI's New
Regulation on Exchange-Traded Rupee Derivatives
● The Commodity Participants Association of India (CPAI) has requested timely clarification and
Frequently Asked Questions (FAQs) documents from the stock exchanges regarding the
Reserve Bank of India's (RBI) new rule for rupee derivatives, set to be effective from April 5,
2024.
● The RBI issued a circular on January 5, 2024 outlining that recognized stock exchanges may
offer forex derivative contracts involving the rupee to users for hedging contracted exposure.
About CPAI :
● The Commodity Participants Association of India was formed in 2006.
● It is a body comprising participants of all recognised commodities, currency & equity exchanges.
● It is the only registered All India Association of all the National Commodity Exchanges and
composed of Commodities Participants of the recognized Commodity Exchanges like MCX,
NCDEX, NMCE, ICEX etc.
NTPC Secures $200 Million Loan Agreement with Japan Bank for International Cooperation
.
● The state-run NTPC group has signed foreign currency loan agreements worth JPY 30 billion
(approximately $200 million) with the Japan Bank for International Cooperation (JBIC).
● Loan Allocation : The loan facility of around ₹1,650 crore extended by the Japanese
Government’s policy-based financial institution, is divided into two halves for NTPC and its clean
energy solutions arm NTPC Renewables Energy (NREL).
● Financing Structure : JBIC has provided 60 per cent of the facility amount and the balance of the
facility amount has been provided by other commercial banks under JBIC guarantee.
● Purpose of the Loan : The facility has been extended under JBIC’s initiative, Global action for
reconciling economic growth and Environment Preservation (GREEN), for projects that ensure
conservation of the global environment.
About Japan Bank for International Cooperation :
● Headquarters : Tokyo, Japan
● President & CEO : Tadashi Maeda
● JBIC, is a Japanese public financial institution and export credit agency that was created on
October 1, 1999, through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas
Economic Cooperation Fund (OECF).
Decline in Number of Currency Chests and Coin Depots Noted: CCs Drop to 2,838 from 3,812 in FY19,
Coin Depots at 2,293 from 3,519
● The number of currency chests (CCs) in the country stands at 2,838 in FY23 from 3,812 in FY19
while that of coin depots is at 2,293 (3,519).
● This follows the Reserve Bank of India (RBI) revamping its systems in FY19– as in getting bigger
storage units.
● The amount of cash in CCs was placed at a minimum of ~1,000 crore and was to be housed in a
1,500 sq ft strong room in hilly and inaccessible places.
● The strong room was to be at least 600 sq ft.
● State Bank of India's Dominance: In FY23, the State Bank of India accounted for the highest
share (53.14%) of currency chests in the country.
● QR Code-Based Coin Vending Machine (QCVM) : The QR code-based Coin Vending Machine
(QCVM) has been introduced in collaboration with 5 lenders: Axis Bank, Bank of Baroda, ICICI
Bank, State Bank of India, and Federal Bank.
● The QCVM is a cashless coin dispensation system which allows payment transactions through
.
UPI on scanning a QR code generated by the machine on the mobile phone of the customer.
● Unlike cash-based traditional coin vending machines, the QCVM eliminates the need for physical
tendering of banknotes.
What is a Currency Chest?
● Currency chests are established by select scheduled banks authorized by the Reserve Bank of
India (RBI) to stock money meant for banks and ATMs.
● The RBI holds monitoring authority over currency chests and conducts periodic inspections
through its representatives.
● New currency notes printed by the RBI are initially delivered to currency chests before
distribution to other banks.
● Currency chests serve as cash distribution centers and are responsible for distributing banknotes
and rupee coins to other bank branches within their operational area.
CABINET APPROVALS
A. The National One Health Mission for integrated disease control and pandemic preparation will be
led by the Director of the National Institute of One Health, Nagpur, who will be appointed at the
rank of scientist 'H' (pay level-15) by the Cabinet.
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of
creation of one post at the level of Scientist H (in the pay level 15) as Director of National Institute
of One Health, Nagpur who will also serve as the Mission Director for the multi-Ministerial and
multi-sectoral National One Health Mission for integrated disease control and pandemic
preparedness, by bringing human, animal, plant and environmental sectors together.
• The creation of one post of Director of the National Institute of One Health at the level of Scientist
'H' in the pay level 15 (Rs.1,82,000 - Rs.2,24,100) will have annual financial implications of approx.
Rs.35.59 lakhs.
B. Giant leap for India Semiconductor Mission: Cabinet approves three more semiconductor units
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the establishment of
three semiconductor units under ‘Development of Semiconductors and Display Manufacturing
Ecosystems in India.
• All three units will start construction within the next 100 days.
.
• The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in

India was notified on 21.12.2021 with a total outlay of Rs. 76,000 crore.
• In June, 2023, the Union Cabinet approved the proposal of Micron for setting up a semiconductor
unit in Sanand, Gujarat.
C. Cabinet approves PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in One Crore
households
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved PM-Surya Ghar:
Muft Bijli Yojana with a total outlay of Rs.75,021 crore for installing rooftop solar and providing free
electricity up to 300 units every month for One Crore households.
• The Prime Minister launched the scheme on 13th February, 2024.
D. Cabinet approves Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 on Phosphatic
and Potassic (P&K) fertilizers and Inclusion of 3 new Fertilizer grades under NBS scheme
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of the
Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season,
2024 (from 01.04.2024 to 30.09.2024) on Phosphatic and Potassic (P&K) fertilizers and inclusion
of 3 new fertilizer grades under NBS scheme.
• The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420
crore.
E. Cabinet approves royalty rates for mining of 12 critical and strategic minerals - Beryllium,
Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten,
and Vanadium
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment of the
Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 ('MMDR
Act') for specifying rate of royalty in respect of 12 critical and strategic minerals, viz., Beryllium,
Cadmium, Cobalt, Gallium, Indium, Rhenium, Selenium, Tantalum, Tellurium, Titanium, Tungsten
and Vanadium.
• This completes the exercise of the rationalisation of royalty rates for all 24 critical and strategic
minerals.
.
F. Cabinet approves establishment of International Big Cat Alliance (IBCA)

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the establishment of
the International Big Cat Alliance (IBCA) with headquarters in India with a one-time budgetary
support of Rs.150 crore for a period of five years from 2023-24 to 2027-28.
• Acknowledging India's leading role in conserving tigers, other big cats and many of its endangered
species, the Prime Minister of India during his speech on the occasion of Global Tiger Day, 2019
called for an Alliance of Global Leaders to curb poaching in Asia.
G. Cabinet Approves Minimum Support Price for Raw Jute for 2024-25 Season
• The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi,
has approved the Minimum Support Prices (MSP) for Raw Jute for 2024-25 season.
• The MSP of Raw Jute (TDN-3 equivalent to earlier TD-5 grade) has been fixed at Rs.5,335/- per
quintal for 2024-25 season.
• This would ensure a return of 64.8 percent over the all India weighted average cost of production.
• The announced MSP of raw jute for 2024-25 season is in line with the principle of fixing the MSP at
a level of at least 1.5 times all India weighted average cost of production as announced by the
Government in the Budget 2018-19.
H. Cabinet Approves Ambitious IndiaAI Mission to Strengthen the AI Innovation Ecosystem

• In furtherance to the vision of Making AI in India and Making AI Work for India, the Cabinet chaired
by the Prime Minister Shri Narendra Modi has approved the comprehensive national-level IndiaAI
mission with a budget outlay of Rs.10,371.92 crore.
• The IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through
strategic programs and partnerships across the public and private sectors.
I. Cabinet approves Uttar Poorva Transformative Industrialization Scheme, 2024

Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade for
Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a period of 10
years from the date of notification along with 8 years for committed liabilities at a total cost of
Rs.10,037 crore.
.
• The financial outlay of the proposed scheme is Rs.10,037 crore for the scheme period from the
date of notification for 10 years. (Additional 8 years for committed liabilities).
J. Cabinet approves additional instalment of Dearness Allowance and Dearness Relief to Central
Government employees and pensioners
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved to release an
additional instalment of Dearness Allowance (DA) to Central Government employees and
Dearness Relief (DR) to pensioners w.e.f. 1.1.2024 representing an increase of 4% over the
existing rate of 46% of the Basic Pay/Pension, to compensate against price rise.
• The combined impact on the exchequer on account of both Dearness Allowance and Dearness
Relief would be Rs.12,868.72 crore per annum
.
K. Cabinet approves introduction of the Readjustment of Representation of Scheduled Tribes in
Assembly Constituencies of the State of Goa Bill, 2024
Ministry of Law & Justice for the introduction of the Readjustment of Representation of Scheduled
Tribes in Assembly Constituencies of the State of Goa Bill, 2024 in Parliament.
• To ensure that the Constitutional rights of the Scheduled Tribes in the State of Goa are
safeguarded, it is imperative to enact a law to provide for enabling provisions empowering the
Election Commission to make amendments in the Delimitation of Parliamentary and Assembly
Constituencies Order, 2008 and readjust the seats in the Legislative Assembly of the State of Goa
for the Scheduled Tribes of the State.
L. Cabinet approves signing of an MoU between India and Bhutan on co-operation in the field of
Energy Efficiency and Energy Conservation Measures
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the signing of the
Memorandum of Understanding (MoU) between India and Bhutan on extending cooperation in the
field of Energy Efficiency and Energy Conservation Measures.
• The MoU was signed between the Bureau of Energy Efficiency, Ministry of Power, Government of
India and the Department of Energy, Ministry of Energy and Natural Resources, Royal Government
of Bhutan.
.
M. Cabinet approves signing of an Agreement between India and Bhutan in the area of Food Safety
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the signing of an
Agreement between Bhutan Food and Drug Authority (BFDA), Ministry of Health, the Royal
Government of Bhutan and the Food Safety and Standards Authority of India (FSSAI) regarding
cooperation in the areas of food safety.
• The signing of this Agreement between Bhutan Food and Drug Authority (BFDA), Ministry of
Health, Royal Government of Bhutan and Food Safety and Standards Authority of India (FSSAI),
Ministry of Health & Family Welfare, Government of India will facilitate the trade between two
neighboring countries.
N. Arab Emirates on cooperation for the empowerment and operation of the India-Middle East Europe
Economic Corridor
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi gave its Ex-post facto approval
to the Inter-Governmental Framework Agreement (IGFA) that was signed during the High-Level
visit between the Government of the Republic of India and the Government of the United Arab
Emirates on Cooperation for the empowerment and operation of the India-Middle East Europe
Economic Corridor (IMEC).
• The IGFA aims to enhance the bilateral relations and to further strengthen the relations between
the two countries in the Ports, Maritime and Logistics sectors.
• The IGFA includes areas of cooperation between the two countries to explore further potential of
future joint investment and collaboration in respect of the development of the IMEC.
• The Agreement contains a detailed framework for cooperation between the two countries.
O. Cabinet approves two corridors of Delhi Metro Phase-IV projects namely (i) Lajpat Nagar to Saket
G-Block and (ii) Inderlok to Indraprastha
• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved two new corridors of
Delhi Metro's Phase-IV project which are expected to further improve the Metro connectivity in the
national capital. The two corridors are;
a) Inderlok - Indraprastha 12.377 km
b) Lajpat Nagar - Saket G Block 8.385 km
.
• Total project cost of these two corridors of Delhi Metro's Phase - IV project is Rs.8,399 crore,
which will be sourced from the Government of India, Government of Delhi, and international
funding agencies.
P. Cabinet approves signing of Memorandum of Understanding (MoU) between India and Bhutan on
General Supply of Petroleum, Oil, Lubricants (POL) and related products from India to Bhutan
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval of
signing of Memorandum of Understanding between the Government of India and the Royal
Government of Bhutan on General Supply of Petroleum, Oil, Lubricants (POL) and related
products from India to Bhutan.
• It aims to benefit India and its citizens with improved economic and commercial linkages with
Bhutan irrespective of any gender, class or income bias, particularly in the area of hydrocarbon
sector.
NATIONAL NEWS
Prime Minister Modi unveils 35,700 crore rupee development projects in Jharkhand.
• Prime Minister Narendra Modi inaugurated and laid the foundation stone for multiple development
projects worth 35,700 crore rupees in Jharkhand from Sindri in Dhanbad district.
• These projects are related to fertiliser, rail, power, and coal sectors.
• Mr. Modi dedicated to the nation the Hindustan Urvarak & Rasayan Ltd's (HURL) Sindri fertiliser
plant, to attain self-sufficiency in the urea sector.
• The plant has been developed at a cost of over 8,900 crore rupees.
Two National Highway projects valued at Rs. 1750 crore are inaugurated at Mirzapur, Uttar Pradesh, by
Shri Nitin Gadkari.
• Union Minister of Road Transport & Highways, Shri Nitin Gadkari laid the foundation stone of 2
National Highway projects worth Rs 1750 crore in Mirzapur in the presence of state ministers and
MPs, MLAs and officials.
• Mirzapur district, situated under the shadow of Mother Vindhyavasini, is religiously and naturally
important.
• To develop this entire region, the foundation stone of 2 ambitious National Highway projects
costing more than Rs 1750 crore has been laid.
.
Shri Nitin Gadkari authorizes Rs 6728.33 crore to build 8 sections of National Highway-913 in Arunachal
Pradesh totaling 305.50 km.
• Union Minister for Road Transport and Highways, Shri Nitin Gadkari in a post said in Arunachal
Pradesh, an allocation of Rs. 6728.33 crore has been granted for constructing 8 stretches on NH-
913 (Frontier Highway) as Intermediate Lane Road, spanning 305.50 Km on EPC mode.
• This development aims to enhance connectivity to border areas, fostering socio-economic
progress.
• The Frontier Highway construction is anticipated to curb migration, encouraging reverse habitation
towards Arunachal Pradesh’s border regions.
Shri Nitin Gadkari authorizes Rs. 3549.48 crore for Madhya Pradesh's National Highways projects,
including their building and strengthening.
• Union Minister for Road Transport and Highways, Shri Nitin Gadkari has approved Rs. 3549.48
crore for the construction and strengthening of various National Highways projects in Madhya
Pradesh.
• An allocation of Rs. 776.19 crore has been approved for 4-laning of 41 km length section of
National Highway-146 B (Shahganj Bypass end to Badi Package-IV) in Sehore and Raisen districts
of Madhya Pradesh under Hybrid Annuity Mode.
• An allocation of Rs. 1238.59 crore has been approved for making 6-lane service road on both
sides of Ayodhya bypass from Asharam Tiraha on National Highway-46 to Ratnagiri Tiraha on
National Highway-146 in Bhopal, Madhya Pradesh under hybrid amputee mode.
Prime Minister will present and lay the groundwork for MoPSW projects in West Bengal valued at over
Rs. 900 crore.
• Prime Minister, Shri Narendra Modi will launch multiple transformative projects of the Ministry of
Ports, Shipping and Waterways at Arambagh, Hooghly in Kolkata.
• These initiatives, collectively valued at more than Rs. 900 crore, signify a significant milestone in
the government's commitment towards development across the region.
• Prime Minister will inaugurate two projects namely the Augmentation of Fire Fighting System with a
cost of Rs. 108 crore to comply with the stringent guidelines outlined in OISD-156 for handling
hazardous materials like Propane, Butane, POL, and LPG products.
PM KISAN benefits worth over Rs 3 lakh crore transferred to farmers so far
• One of the largest Direct Benefit Transfer programmes in the world, PM KISAN has crossed a new
milestone.
.
• With Prime Minister Shri Narendra Modi releasing the 16th instalment from Yavatmal in
Maharashtra the scheme has benefitted more than 11 crore eligible farmer families with Rs 3 lakh
crores disbursed till date.
• Of this, Rs 1.75 lakh Crores was transferred to eligible farmers during the COVID period alone,
when they needed direct cash benefits the most.
• Government of India launched an ambitious scheme for farmers’ welfare - the Pradhan Mantri
Kisan Samman Nidhi (PM-KISAN) on 2nd February 2019.
Union Minister Mansukh Mandaviya inaugurates Greenfield projects under the PLI Scheme for bulk
medications and medical devices.
• Union Minister for Chemicals and Fertilizers Dr Mansukh Mandaviya inaugurated the Greenfield
Projects under the Production Linked Incentive Scheme-PLI Scheme for Bulk Drugs and Medical
Devices at a function in New Delhi.
• Under it, a total of 51 plants were inaugurated out of which 22 are for bulk drugs and 39 are related
to the manufacturing of various kinds of medical devices.
• In these plants, the bulk drugs being produced include Levofloxacin, Ofloxacin, Telmistran, Vitamin
B6 and Diclofenac Sodium among others.
Prime Minister dedicated to the country and established the groundwork for several development
projects in Aurangabad, Bihar, valued at Rs 21,400 crores.
• The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone for
multiple development projects worth Rs 21,400 crores in Aurangabad, Bihar.
• The development projects include the sectors of road, railway and Namami Gange among others.
• The Prime Minister also took a walkthrough of the photo gallery.
Establishing the foundation for sustainable steel production, the Union Minister of Steel inaugurates
India's first green hydrogen plant in the stainless steel sector.
• Union Minister for Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia, today (4 March 2024)
virtually inaugurated India's 1st Green Hydrogen Plant in the Stainless Steel Sector located at
Jindal Stainless Limited, Hisar.
• The inauguration also witnessed the presence of the Secretary, Ministry of Steel Sh. Nagendra
Nath Sinha, Managing Director (Jindal Stainless Limited), Sh. Abhyuday Jindal, Founder, Hygenco
Sh. Amit Bansal, and other officials of the Ministry of Steel.
.
• One key initiative in this journey is the National Green Hydrogen Mission (NGHM), launched last
year with an outlay of around ₹20,000 crore with an aim to make India a Global Hub for production,
usage and export of Green Hydrogen and its derivatives. The Mission is also supporting pilot
projects in the steel sector with a budget of around ₹500 crore until FY 2029-30.
Prime Minister Modi unveils many development initiatives in Telangana valued at 56,000 crore rupees.
• Prime Minister Narendra Modi inaugurated, dedicated, and laid the foundation stone of over 30
development projects worth more than 56,000 crore rupees in Adilabad, Telangana.
• All these projects are related to sectors like Power, Oil and petroleum, rail and road sectors of
various states.
• The Prime Minister reached Telangana this morning on a 2-day visit.
• On the first leg of his visit to Telangana, Mr. Modi dedicated to the nation the 800 MW second unit
of NTPC’s Telangana Super Thermal Power Project in Peddapalli.
New Criminal Laws Replacing IPC, CrPC & Evidence Act To Come Into Force From July 1, 2024
• The three newly enacted criminal laws - Bharatiya Nyaya Sanhita 2023, Nagarik Suraksha Sanhita
2023 and Bharatiya Sakshya Adhiniyam 2023 - will come into effect from July 1.
• Bharatiya Nagarik Suraksha Sanhita, 2023, Bharatiya Nyaya Sanhit a, 2023 and Bharatiya
Sakshya Adhiniyam, 2023 will replace the Indian Penal Code of 1860, the Code of Criminal
Procedure of 1898 and the Indian Evidence Act of 1872.
Shri Anurag Singh Thakur announces setting up of Film Certification Facilitation Office in Chandigarh
• Union Minister of Information and Broadcasting Shri Anurag Singh Thakur announced the setting
up of a regional facilitation office of the Central Board of Film Certification (CBFC) in Chandigarh,
to promote ease of doing business for filmmakers of the region.
• CBFC centres to curb piracy.12 nodal officers across the country will receive complaints against
piracy and give instructions to remove pirated content on digital platforms.
• These changes, aimed at fostering efficiency, transparency, and inclusivity, signify a departure
from the rules established in 1983, addressing long-standing issues of corruption and
representation within the Central Board of Film Certification (CBFC).
Prime Minister Modi unveils many development initiatives in Telangana valued at 7,200 crore rupees.
• Prime Minister Narendra Modi laid the foundation stone and dedicated to the nation multiple
development projects worth over 7,200 crore rupees in Telangana from Sangareddy.
• These projects encompass sectors like road, rail, petroleum, aviation and natural gas.
.
• The Prime Minister inaugurated the Indian Oil Paradip-Hyderabad Product Pipeline which will carry
petroleum products in a cheaper and environmentally sustainable way.
• Telangana Governor Dr Tamilisai Soundararajan, and Union Minister, G Kishan Reddy were
present on the occasion among others.
Prime minister will introduce development initiatives in Odisha valued at around 19,600 million rupees.
• Prime Minister Narendra Modi will arrive at Bhubaneswar on a day-long visit to Odisha
• Mr Modi is scheduled to fly to Chandikhol in Jajpur district to inaugurate and lay the foundation
stone for multiple developmental projects worth 19,600 crore rupees.
• The projects relate to various sectors including oil and gas, railways, road, transport, national
highways and atomic energy.
• The Prime Minister is also scheduled to flag off a MEMU train on the Paradip-Haridaspur line
connecting Paradip to Keonjhar through Kendrapara.
Amit Shah launches umbrella body for urban co-op banks
• Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated the umbrella
organization for Urban Cooperative Banks (UCBs), the National Urban Cooperative Finance and
Development Corporation Limited (NUCFDC), in New Delhi.
• The umbrella organization will provide various facilities to small banks, facilitate dialogue between
banks and regulators, and work on improving communication.
• The NUCFDC has received a Certificate of Registration (CoR) from the RBI to operate as a Non-
Banking Finance Company (NBFC) and serve as the umbrella organisation for the urban
cooperative banking sector.
• The NUCFDC aims to raise capital, with plans to reach a capital base of Rs.300 crores.
Indian government allows derivatives trading in skimmed milk powder, apples, bamboo and 8 other
commodities
• The Indian government has permitted derivatives trading in 11 more commodities including
skimmed milk powder, cement, apple, bamboo and timber based on a recommendation from the
Securities and Exchange Board of India (SEBI), which supervises the trading.
• Finance Ministry added these commodities under the Securities Contracts (Regulation) Act, 1956,
taking the total number of commodities in which derivatives trading can be done to 104.
India's First Underwater Metro to Be Opened in Kolkata by Prime Minister:
.
• Prime Minister Narendra Modi will inaugurate India's first underwater metro rail service in Kolkata.
• The new metro line, called the Howrah Maidan-Esplanade section, will be the country's first
transportation tunnel beneath a major river.
• It passes beneath the River Hooghly, which separates Kolkata and Howrah cities on its east and
west banks.
• The Howrah metro station, part of this new line, will hold the distinction of being India's deepest
metro station.
PM inaugurates and places the cornerstone for many connectivity projects in Kolkata, West Bengal,
totalling Rs 15,400 crores.
• The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for multiple
connectivity projects worth Rs 15,400 crores in Kolkata.
• The development projects catering to the urban mobility sector include Metro Rail and Regional
Rapid Transit System (RRTS).
• The Prime Minister took an overview of all metro projects and took a metro ride on the Esplanade -
Howrah Maidan metro route, India's first Underwater Metro in Kolkata.
The 4-laning of National Highway -748A in Karnataka has been sanctioned by Shri Nitin Gadkari for a
sum of Rs. 2675.31 crore.
• Union Minister for Road Transport & Highways, Shri Nitin Gadkari in a post saidin Karnataka,a
substantial sum of Rs. 2675.31 crore has been sanctioned for the 4-Laning of the Belgaum-
Hungund-Raichur Section of National Highway-748A in Bagalkot &Belgavi districts, employing the
Hybrid Annuity Mode.
• This initiative spans a total length of 92.40 Km.
• An integral part of the Panaji-Hyderabad EC10 corridor.
Below 3% of India's population under èxtreme poverty': World Poverty Clock
• India has managed to bring down ‘extreme poverty’ below 3 per cent of its population, the latest
data on the World Poverty Clock showed.
• This could mean achieving significant milestones in the direction of the first of 17 Sustainable
Development Goals (SDG), as prescribed by the United Nations with a timeline of 2030.
• Extreme Poverty is now eliminated in India.
• The World Poverty Clock updates: shows India’s extreme poverty at less than 3 per cent.
Smt. Nirmala Sitharaman virtually launches seven infra projects worth ₹1,000 crores
.
• Finance Minister Nirmala Sitharaman virtually launched seven infrastructure projects worth over
₹1,000 crore.
• The inaugurated projects include unveiling the plaque for the construction of residential quarters of
Income Tax Department officers at Faridabad and Gurugram.
• She inaugurated the State Bank of India’s new local head office building and the Life Insurance
Corporation of India’s International Business Centre building.
The Government Launches Digital Intelligence Platform for Telecom Fraud
• Minister of Communications, Railway, and Electronics & Information Technology Mr Ashwini
Vaishnaw in the presence of Minister of State for Communications, Mr. Devusinh Chauhan
launched the Department of Telecommunications (DoT)’s ‘Digital Intelligence Platform (DIP)’ for
coordination among the stakeholders to curb misuse of telecom resources in cyber-crime and
financial frauds, and ‘Chakshu (चक्षु)’ facility on Sanchar Saathi portal (https://sancharsaathi.gov.in),
a pioneering initiative empowering citizens to proactively report suspected fraud communication.
Prime Minister watches core loading of first indigenous fast breeder reactor
• Prime Minister Narendra Modi witnessed the commencement of “core loading” at India’s first
indigenous Fast Breeder Reactor (500 MWe) at Kalpakkam.
• India has developed comprehensive capabilities spanning the entire spectrum of the nuclear fuel
cycle.
• The government had approved 2003, the creation of Bhar tiya Nabhikiya Vidyut Nigam Ltd.,
(BHAVINI) to construct and operate India’s most advanced nuclear reactor-Prototype Fast Breeder
Reactor (PFBR).
Prime Minister Modi unveils projects worth Rs.6,400 crores in Srinagar
• Prime Minister Narendra Modi unveiled various developmental projects worth more than 6400
crore rupees at Bakshi stadium in Srinagar in Jammu and Kashmir.
• During his day-long visit to the Kashmir valley, the Prime Minister participated in the ‘Viksit Bharat,
Viksit Jammu Kashmir’ programme.
• This is Mr Modi’s first visit to Kashmir post abrogation of Article 370 in August 2019.
• Earlier, the Prime Minister launched the 5,000 crore Rs worth programme - the ‘Holistic Agriculture
Development Programme’ - for boosting agri-economy in J&K.
Hardeep S. Puri launches and places the cornerstone for 177 development projects in Uttar Pradesh for
Rs 10.41 crores
.
• Shri Hardeep Singh Puri, Minister of Housing & Urban Affairs and Petroleum & Natural Gas,
virtually inaugurated and laid the foundation stone for 177 development projects in Sonbhadra
district of Uttar Pradesh.
• The projects worth Rs 10 crore 41 lakh are funded from Shri Puri’s MPLAD fund as part of the MP
Local Area Development Scheme.
Government notifies FDI norms for space; move may bring in $44 bn by 2033
• The government notified the amended FDI norms in the space sector, clearing the deck for 100 per
cent overseas investment in making components for satellites, 74 per cent in satellite
manufacturing and operations, and 49 per cent in launch vehicles.
• Anything beyond the limit will need government approval.
• The recent move comes against the backdrop of tepid foreign investment into the country’s space
sector over the last two years.
• Satellite Data Products refer to reception, generation or dissemination of earth observation/remote
sensing satellite data and data products including Application Interfaces (API).
Minister Hardeep S Puri inaugurates 201 CNG stations and India’s first Small Scale LNG Unit of GAIL
• Union Minister for Petroleum and Natural Gas Hardeep Singh Puri inaugurated India’s first Small
Scale LNG Unit of GAIL.
• This unit of Gas Authority of India Limited (GAIL) is situated at its Vijaipur LPG plant in Madhya
Pradesh.
• The CNG stations have been set up with an investment of Rs 500 crore and are spread across 52
geographical areas in 17 states.
Prime Minister to present first-ever National Creators Award:
• Prime Minister Shri Narendra Modi will present the first ever National Creators Award at Bharat
Mandapam, New Delhi.
• Prime Minister will also address the gathering on the occasion.
• The National Creators Award is an effort to recognize excellence and impact across domains,
including storytelling, social change advocacy, environmental sustainability, education, and
gaming, among others.
• The award is envisioned as a launchpad for using creativity to drive positive change.
Union Minister Ashwini Vaishnaw launches NITI Aayog’s – ‘NITI for States’ Platform
• Shri Ashwini Vaishnaw, Union Minister of Communications, Railways, and Electronics &
Information Technology, launched the 'NITI for States' platform, a comprehensive digital initiative
.
designed to empower states and union territories (UTs) in their pursuit of national development
goals.
• Shri Vaishnaw, also inaugurated the ‘NITI For States - Viksit Bharat Strategy Room’ at NITI Aayog
in the presence of Prof. Ramesh Chand, Dr V. K. Saraswat, & Dr. Arvind Virmani, Members of NITI
Aayog and Shri B.V.R. Subrahmanyam, CEO, NITI Aayog.
Crossing 900 Million Tons, Coal Production reaches an unprecedented milestone
• The coal production in India has reached an unprecedented milestone, crossing 900 million tons
(MT), setting the stage to approach the ambitious 1 billion ton (BT) target by March 31, 2024.
• Notably, during the current fiscal year i.e. 2023-24, India has achieved a remarkable feat by
surpassing last year's coal production of 893.19 MT, twenty-seven days in advance.
• Additionally, there is ample coal stock of around 85 MT available with coal companies, while
domestic coal-based thermal power plants maintain coal stocks of 43.28 MT as of March 5, 2024,
ensuring uninterrupted power supply across the country.
Ashwini Vaishnaw Launches India's Fastest And Indigenously Designed Router In Bengaluru
• Union Minister for Communication, Electronics, IT and Railways Ashwini Vaishnaw launched
India’s fastest and indigenously developed Multiprotocol Label Switching router in Bengaluru.
• This will bolster India’s digital infrastructure and support the demand for high-speed data
processing and transmission.
• An indigenous router of 2.4 Terabits Per Second speed, has been developed in India.
PM virtually inaugurates and lays the foundation of projects worth Rs 8,500 cr in Tripura
• Prime Minister Narendra Modi inaugurated and laid the foundation stone of about 12 projects worth
8,534 crore rupees for Tripura virtually during his visit to Itanagar in Arunachal Pradesh.
• The important projects, include the construction of the Agartala Western Bypass.
• PM Modi also launched projects, including tap connections for 1.46 lakh rural households and laid
stones for the Agartala Western Bypass and multiple road
projects.
• The Prime Minister also inaugurated the Land Port at the Integrated Check Post at Sabroom in
South Tripura constructed at a cost of about Rs 230 crore.
PM inaugurates, dedicates to the nation, and lays the foundation stone for multiple development
projects worth more than Rs 17,500 crores in Jorhat, Assam
.
foundation stone for multiple development projects worth more than Rs 17,500 crores in Jorhat,
Assam.
• The development projects encompass the sectors of health, oil and gas, rail, and housing.
• The Prime Minister laid the foundation stone for projects under the Prime Minister’s Development
Initiative for North Eastern Region (PM-DevINE) scheme including the Medical College & Hospital
at Sivasagar and a Hemato-Lymphoid center in Guwahati.
Government sanctions over Rs 1,532 crore for upgradation of National Highway projects in Gujarat
• Union Minister for Road Transport & Highways, Shri Nitin Gadkari approved has been given for
widening of the 12.4 km long Dhrol to Amaran section of National Highway-151-A in Morbi district
of Gujarat to 4-lane for Rs 625.58 crore.
• The approval has been given for the widening of the 12.4-kilometer Dhrol to the Amaran section of
the National Highway in the Morbi district of Gujarat.
• The government has sanctioned over 936 crore rupees for the construction of ten kilometers long
four-lane elevated corridor on the Kalimandir-Dimna Chowk-Baliguma section of the National
Highway in Jamshedpur, Jharkhand.
• The project will enhance safety and reduce congestion in the city of Jamshedpur.
Shri Nitin Gadkari sanctions Rs. 2093.92 crore for widening and strengthening various National
Highway projects in Jammu & Kashmir
• Union Minister for Road Transport & Highways, Shri Nitin Gadkari informed, in Jammu & Kashmir,
an allocation of Rs. 1404.94 crore has been approved for the Widening and Strengthening project
of the Rafiabad – Kupwara – Chowkibal – Tangdhar – Chamkot section of National Highway-701
• It aims to transform the 51 Km route into 2-lanes with Paved, Shoulder.
• An allocation of Rs. 126.58 crore has been approved for the development, Operation, and
Maintenance of a Ropeway from SDA Parking (Near Zabarwan Park) to Shankaracharya Temple.
Shri Nitin Gadkari approves Rs. 2281.10 crore for widening and strengthening of National Highways in
Tamil Nadu
• Union Minister for Road Transport & Highways, Shri Nitin Gadkari Informed, in Tamil Nadu, a
substantial allocation of Rs. 1376.10 crore has been approved for the widening of the existing 2-
Lane Paved Shoulder from Tiruvallur to the Tamil Nadu/Andhra Pradesh border section of National
Highway-716.
.
• This transformation to a 4-lane configuration with paved shoulders in Thiruvallur district spans
43.95 Km under Package-1.
Prime Minister Narendra Modi launches 112 National Highway projects for various states starting in
Gurugram, Haryana.
• Prime Minister Narendra Modi inaugurated and laid the foundation stone of 112 National Highway
projects spread across the country worth about one lakh crore in Gurugram, Haryana.
• The projects inaugurated include the Haryana section of the landmark Dwarka Expressway, three
packages of Lucknow Ring Road, the Anandapuram - Pendurthi - Anakapalli section of NH16 in
Andhra Pradesh, and the Kiratpur to Nerchowk section of NH-21 in Himachal Pradesh.
India is now the second-largest manufacturer of mobile phones worldwide.
• India now stands as the world’s second-largest producer of mobile phones at the end of the
decade 2014-2024.
• India Cellular and Electronics Association informed that the sector has transitioned from being 78
percent import-dependent in 2014 to 97 per cent self-sufficiency.
• Only three percent of the total mobile phones sold in India are now imported.
• India’s mobile phone production is nearing 20 lakh crore rupees in a decade of unprecedented
growth.
• India produced 2.45 billion units of mobile phones during these ten years, against a goal of 2.5
billion units.
Union Minister Piyush Goyal Extends RoDTEP Scheme to Additional Export Sectors
• Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and
Textiles, Shri Piyush Goyal announced the extension of the Remission of Duties and Taxes on
Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi.
• The Government of India has announced the extension of the RoDTEP Scheme support to
additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU) and
Special Economic Zones (SEZ) export units.
• This decision comes in recognition of the significant contribution these sectors make to India’s
Exports, constituting approximately 25% of our exports.
In Ahmedabad, Gujarat, the Prime Minister sets up the foundations for several developmental projects
valued at over Rs. 1,06,000 crores, dedicating them to the country.
.
• The Prime Minister, Shri Narendra Modi dedicated to the nation and laid the foundation stone of
various developmental projects worth over Rs 1,06,000 crores at Dedicated Freight Corridor’s
Operation Control Centre in Ahmedabad,
Gujarat.
• The development projects encompass multiple sectors including railway infrastructure, connectivity
and petrochemicals.
• He also flagged off 10 new Vande Bharat trains.
Government abolishes wireless operating licence, launches regulatory sandbox to ease trial permit
• The government has abolished wireless operating licence and launched a regulatory sandbox for
quick and online approval of product testing, Union Communications and IT Minister Ashwini
Vaishnaw
• 15 organisations including industry bodies ICEA, MAIT, and Nasscom should come together to
make it Asia’s biggest technology event to be held from October 15-19.
Centre notifies CAA rules, sets up application portal

• The government announced the long-pending implementation of the Citizenship Amendment Act
(CAA), approved by Parliament in 2019, notifying the rules under which the legislation will operate.
• The law aims to grant citizenship to migrants belonging to the Hindu, Sikh, Buddhist, Jain, Parsi
and Christian communities from Afghanistan, Bangladesh and Pakistan who had come to India on
or before December 31, 2014.
Prime Minister Modi has launched the PM-SURAJ National Portal.

• Prime Minister Narendra Modi launched the ‘Pradhan Mantri Samajik Utthan and Rozgar Adharit
Jankalyan’ (PM-SURAJ) national portal and approved credit assistance for one lakh entrepreneurs
from disadvantaged communities.
• The Prime Minister also distributed Ayushman health cards and PPE kits to sewer and septic tank
workers under the National Action for Mechanised Sanitation Ecosystem (NAMASTE).
Union Minister Piyush Goyal has announced the extension of the RoDTEP scheme to include additional
export sectors in New Delhi.
● Union Minister of Commerce and Industry Piyush Goyal announced the extension of the Remission
.
of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in
New Delhi.
● He also announced the extension of the RoDTEP Scheme support to additional export sectors like
Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones
(SEZ) export units.
● This decision comes in recognition of the significant contribution these sectors make to India’s
Exports, constituting approximately 25 percent of exports.
Shri Nitin Gadkari has sanctioned Rs. 972.80 crores for road widening and Rs. 384.56 crore under
CRIF in Rajasthan.
● Union Minister for Road Transport & Highways Nitin Gadkari announced that an outlay of Rs 972.80
crore has been sanctioned for widening and strengthening work of 31 major district roads and State
Highways in Rajasthan.
● Another Rs 384.56 crore has also been sanctioned for the construction work of seven rail
overbridges, underbridges, and flyovers in various districts under Setu Bandhan Yojana.
● Under the Central Road & Infrastructure Fund (CRIF) Scheme, the Ministry allocates funds to State
Governments and Union Territories (UTs) for the development and maintenance of State and
Roads.
The Indian government has approved an Electric Vehicle (EV) policy to promote the country as a
manufacturing destination for electric vehicles.
● The Union Government has approved a scheme to promote India as a manufacturing destination so
that e-vehicles (EV) with the latest technology can be manufactured in the country.
● The policy is designed to attract investments in the e-vehicle space by reputed global EV
manufacturers.
The policy entails the following: -
● Minimum Investment required: Rs 4150 Cr (∼USD 500 Mn)
● No limit on maximum Investment
● Timeline for manufacturing: 3 years for setting up manufacturing facilities in India, and to start
commercial production of e-vehicles, and reach 50% domestic value addition (DVA) within 5
years at the maximum.
● Domestic value addition (DVA) during manufacturing: A localization level of 25% by the 3rd year
.
and 50% by the 5th year will have to be achieved.

● The customs duty of 15% (as applicable to CKD units) would be applicable on vehicles of
minimum CIF value of USD 35,000 and above for a total period of 5 years subject to the
manufacturer setting up manufacturing facilities in India within 3 years.
Nitin Gadkari approves Rs. 421.15 crore for 4-lane Gauripur Bypass on NH-17 (New)/NH-31(Old) in
Dhubri district, Assam.
● Union Minister for Road Transport and Highways Shri Nitin Gadkar, in Assam, an allocation of Rs
421.15 Crore has been approved for the construction of a 4-lane Gauripur Bypass along NH-17
(New)/NH-31(Old), spanning from Dumardoha Pt-II to the Baladmara road in Dhubri district.
● This covering a total length of 9.61 kilometres, the project aims to alleviate congestion in Gauripur
town and mitigate risks associated with sharp bends on the current highway, thereby enhancing
safety.
Nitin Gadkari approves Rs 576.22 Cr for 4-laning of NH-373 segment in Karnataka's Hassan district.
● Union Minister for Road Transport and Highways Shri Nitin Gadkari in a post said in Karnataka, an
allocation of ₹576.22 Crore has been sanctioned for the 4-laning of the Yedegowdanahalli to
Arjunahalli segment of NH-373 in Hassan district, spanning 22.3 kilometres.
● This corridor serves as a vital link to renowned tourist destinations such as Chikamagaluru, Belur,
Halebeedu, and Shravanabelagola.
Prime Minister of India lays foundation stone for 2,880 MW Dibang Multipurpose Hydroelectric Project
of Arunachal Pradesh
● The Prime Minister of India Shri Narendra Modi laid the foundation stone of the 2,880 MW Dibang
Multipurpose Hydropower Project of NHPC Limited in Lower Dibang Valley district of Arunachal
Pradesh, at a Viksit Bharat Viksit Northeast Program in Itanagar, Arunachal Pradesh.
● To be built at a cost of more than Rs. 31,875 crores, the Dibang project will be the highest dam
structure in the country.
● The Dam is planned to be constructed with Roller Compacted Concrete (RCC) technique and it will
be the highest RCC Dam in the World.
● The Dibang Dam aims to place a peak of more than 5 lakh cubic metres of concrete in one month,
which will be the first in the world.
● The Dibang Project will provide 12% free power and an additional 1% free power for the Local Area
.
Development Fund for the development of the state of Arunachal Pradesh.

Union Health Ministry Launches Action Plan to Reduce Snakebite Deaths By Half By 2030
● Apurva Chandra, Union Health Secretary, launched a National Action Plan for Prevention and
Control of Snakebite Envenoming (NAP-SE) in India in Delhi.
● The action plan seeks to reduce snakebite deaths by half by 2030.
● NAPSE provides a broad framework for states to develop their own action plan for the management,
prevention and control of snakebites through the 'One Health' approach.
● A Snakebite Helpline No. 15400, a vital resource that provides immediate assistance, guidance, and
support to individuals and communities affected by snake bite incidents, will be piloted in five states
(Puducherry, Madhya Pradesh, Assam, Andhra Pradesh and Delhi).
● This initiative aims to ensure prompt access to medical care and information to the general public.
India will host ITU’s prestigious World Telecom Standardization Assembly Delhi 2024 (WTSA 2024)
from 15th - 24th October 2024.
● India will be hosting the World Telecommunication Standardization Assembly (WTSA 2024) from 15-
24 October 2024, preceded by the Global Standards Symposium (GSS 2024) on 14 October 2024
● The eighth edition of the IMC, co-hosted by the Department of Telecommunications (DoT) and
COAI, will be held from October 15 to 24.
● It will be held concurrently with the World Telecommunication Standardisation Assembly (WTSA
2024), preceded by the Global Standards Symposium (GSS 2024) on October 14, 2024, in New
Delhi.
● The International Telecommunication Union (ITU), a specialised United Nations agency for
information and communication technologies of which India is a part, conducts the WTSA every four
years to plan its standardization programme.
● Ashwini Vaishnaw also released new guidelines for Spectrum Regulatory Sandbox and Wireless
Test Zones.
India commits to increase support to Bhutan in its 13th Five-Year Plan

● India has agreed to increase its support to Bhutan in its upcoming 13th Five Year Plan and will also
extend an additional standby credit facility over and above the two existing ones, Foreign Secretary
Vinay Kwatra announced.
● In a bilateral meeting between visiting Bhutan King Jigme Khesar Namgyel Wangchuk and Prime
Minister Narendra Modi, the two also discussed shaping sustainable arrangements for the export of
.
agricultural commodities from Bhutan and for a short supply of critical commodities, such as
petroleum, fertilisers and coal, to the country.
About Bhutan
● Capital: Thimphu
● King: Jigme Khesar Namgyel Wangchuck
● Currencies: Bhutanese Ngultrum, Indian Rupee
Lok Sabha elections to begin from April 19; counting on June 4
● India's general elections will be held in seven phases from April 19 to June 1 with votes for the 543
Lok Sabha seats to be counted on June 4, Chief Election Commissioner Rajiv Kumar announced in
New Delhi.
● The first phase of the world’s biggest electoral exercise will see the maximum number of
constituencies go to the polls — 102 in 21 states including Tamil Nadu, Maharashtra, Uttar Pradesh,
Uttarakhand, Rajasthan, Madhya Pradesh, Assam, Arunachal Pradesh, Manipur and Meghalaya as
well as the Union territory of Jammu & Kashmir.
● The next phases will be on April 26 (89 Lok Sabha seats), May 7 (94) and May 13 (96). The
remaining elections will be on May 20 (49), May 25 (57) and June 1 (57).
IPEF: India to join US-led co-operative work programme on carbon market
● India has decided to join at least one of the four cooperative work programmes launched last week
under the ‘clean energy pillar’ of the US-led Indo-Pacific Economic Framework (IPEF) – the one on
facilitating and promoting carbon market activities.
● New Delhi is also considering two of the other co-operative work programme initiatives, one on clean
electricity and the other on the use of sustainable aviation fuel but will take a call on whether to join
or not after thorough analysis.
● The IPEF, an initiative led by US President Joe Biden, was launched in May 2022, bringing together
14 regional partners – Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea,
Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam.
NHAI raises more than ₹16,000 crore in its largest InvIT monetisation round
● The National Highways Infra Trust (NHIT), the infrastructure investment trust of the National
Highways Authority of India (NHAI), has raised more than ₹16,000 crore for 889 kilometres of
national highway through its ‘InvIT round 3’.
● This is the largest-ever monetisation by NHAI and one of the largest transactions in the history of
Indian roads.
.
● The letter of acceptance (LOA) was issued in February 2024.

● In the third round of monetisation, NHIT has raised unit capital of around ₹7,272 crore from marquee
domestic and international investors, and debt of around ₹9,000 crore from Indian lenders to fund
the acquisition of national highway stretches at a base concession fee of around ₹15,625 crore and
additional concessional fees of ₹75 crore.
Electronics And IT Secretary S. Krishnan Launches BhashaNet Portal In New Delhi

● Electronics and IT Secretary S. Krishnan launched the BhashaNet portal based on the concept of
Universal Acceptance (UA) in New Delhi.
● The launch of the BhashaNet portal represents a crucial step towards fostering digital inclusivity in
India and Universal Acceptance is a gateway to it.
● BhashaNet portal is such a step, it aims to make .in (dot in) a universally accepted domain.
● The BhashaNetportal was developed by the Centre for Development of Advanced Computing with
the support of the National Internet Exchange of India.
Centre decides to celebrate September 17 every year as 'Hyderabad Liberation Day'
● The Central Government has decided to commemorate the 75th anniversary of the Hyderabad State
Liberation Day on September 17 in a big manner this year.
● The Union Ministry of Culture will host the inaugural event, which will be presided over by the Union
Home Minister, in Hyderabad.
● Meanwhile, the Telangana Government recently decided to observe September 17 as Telangana
National Unity Day.
● While Maharashtra and Karnataka currently observe this day as Marathwada Liberation Day and
Hyderabad-Karnataka Liberation Day, respectively.
New TRAI regulations for SIM swap to curb fraudulent activities
● The Telecom Regulatory Authority of India (TRAI) has amended new regulations related to SIM
porting, also known as Mobile Number Portability (MNP), to reduce and prevent fraudulent SIM swap
activities.
● Under the new guideline, which will come into effect from July 1, users have to wait for seven days
to be eligible for porting from one network to another post-SIM swap or replacement of the mobile
number.
● This applies to users who have lost their original SIM card and applied for a replacement, where a
user has to wait for seven days before they become eligible for networking porting.
.
● However, if a user is upgrading the SIM card (from 3G to 4G/5G), there is no restriction when it
comes to porting, as the same is authorised by the user using a one-time password (OTP).
● MNP facility was launched in Haryana telecom circle in November 2010 on pilot basis. In January
2011, it was extended to the entire country.
Election Commission Launches Saksham App To Facilitate Easier Voting For Persons With Disabilities
And To Avail Facilities At Polling Stations
● The Election Commission has launched the Saksham App to facilitate easier voting for Persons with
Disabilities and to avail facilities at Polling Stations.
● The Election Commission has always focused on Accessible Voting every time as it has the motto of
no voter is left behind.
● The Election Commission has announced that voters above 85 years of age and Persons with
Disabilities with 40 percent benchmark disability can vote from home.
● Volunteers and wheelchairs will be available at every polling station.
● The Commission has launched the Saksham App to facilitate easier voting for Persons with
Disabilities and to avail facilities at Polling Stations.
Indira Gandhi National Centre For The Arts Releases Two Literary Works Aimed At Deepening The
Understanding Of India-Japan Cultural Connections
● Indira Gandhi National Centre for the Arts, IGNCA released two literary works aimed at deepening
the understanding of India-Japan cultural connections.
● The books namely Siddham Calligraphy of Sanskrit Hieronyms and Sanskrit Manuscripts from
Japan, Vol I were released by Member Secretary of IGNCA Sachchidanand Joshi, Advisor (Japan)
in Ministry of External Affairs Ashok Chawla and First Secretary at Japanese Embassy Takashi
Kobayashi among others in New Delhi.
DGCA Imposes Rs 80 Lakh Penalty On Air India For Violating FDTL Rules
● The Directorate General of Civil Aviation has imposed a financial penalty of eighty lakh rupees on Air
India Limited for violation of regulations about Flight Duty Time Limitations, FDTL and Fatigue
Management System, FMS of the flight crew.
● DGCA conducted a spot audit of Air India Limited in January this year to verify the regulatory
compliance by the operator in respect for FDTL and FMS regulations.
.
● During the audit, the evidence was collected and fleet-wise random reports were analyzed.
● The analysis of reports and evidence revealed that Air India Limited operated flights with both flight
crew aged above 60 years flying together in a few instances, which is a violation of Aircraft Rules.
Prime Minister has inaugurated Start-up Mahakumbh at Bharat Mandapam, New Delhi
● The Prime Minister, Shri Narendra Modi inaugurated the Start-up Mahakumbh at Bharat Mandapam,
New Delhi.
● The Prime Minister highlighted the importance of Start-up Mahakumbh and emphasized the
country’s roadmap of working to become a Viksit Bharat by 2047.
● India is the third largest startup ecosystem with 1.25 lakh startups involving 12 lakh youth who are
directly linked with them.
● This startup event aims at connecting startups with a spectrum of inventors including venture
capitalists, investors and potential corporate partners.
NIXI and MeitY to unveil BhashaNet portal at Universal Acceptance Day for Digital Inclusion across the
nation
● The Ministry of Electronics and Information Technology (MeitY) and National Internet Exchange of
India (NIXI) have announced the launch of the BhashaNet portal at the Universal Acceptance Day
event held on March 21, at the Dr. Ambedkar International Centre in New Delhi.
● The event was held with the active support of the Internet Corporation for Assigned Names and
Numbers (ICANN).
● The theme of the event was, BhashaNet: Impetus Towards Universal Acceptance.
About NIXI:
● Set up on 19th June 2003, the National Internet Exchange of India is a not-for-profit (Section 8)
company under the aegis of MeitY and is tasked to increase internet penetration and adoption in
India by facilitating the various infrastructure aspects to enable the internet ecosystem to be
managed and used by the masses.
India to join US-led co-operative work programme on carbon market

● India has decided to join at least one of the four cooperative work programmes launched last week
under the ‘clean energy pillar’ of the US-led Indo-Pacific Economic Framework (IPEF) – the one on
facilitating and promoting carbon market activities.
.
● India will join the cooperative working group on carbon markets through the Ministry of Power and
the Bureau of Energy Efficiency will be the nodal body.
● The IPEF, an initiative led by US President Joe Biden, was launched in May 2022, bringing together
14 regional partners – Australia, Brunei, Fiji, India, Indonesia, Japan, the Republic of Korea,
Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam.
About IPEF
● The IPEF was launched in 2022 with a dozen initial partners who together represent 40% of the
world GDP.
● The IPEF is NOT a Free Trade Agreement (FTA) but allows members to negotiate the parts they
want to.
● The IPEF aims to have a common set of rules and standards around four pillars: connectivity and
digital trade; resilient supply chains; clean energy; and corruption-free fair trade. Tariff cuts are not
on the agenda at all, but India has still decided to exclude itself from the trade pillar, while joining the
other three.
Government notifies bonus for Postal Life Insurance, Rural Postal Life Insurance schemes for FY25
● The Centre has approved a simple reversionary bonus for the Postal Life Insurance Scheme and
Rural Postal Life Insurance Scheme for fiscal year 2024-25.
● There is no change in the rate.
● According to a notification, under the Postal Life Insurance Scheme, the rate of bonus will be ₹76
per thousand of sum assured for whole life assurance (WLA).
● Similarly, for endowment assurance (EA) (including joint life and children policies), it will be ₹52 per
thousand of sum assured.
● Anticipated endowment assurance (AEA) will fetch ₹48 per thousand of sum assured.
● Postal Life Insurance (PLI), the oldest in the country, was introduced on February 01, 1884 as a
welfare scheme for the benefit of postal employees and later extended to the employees of
Telegraph Department in 1888.
About RPLI
● Rural Postal Life Insurance (RPLI) was introduced on March 24, 1995 for rural people on
recommendations of the Official Committee for Reforms in the Insurance Sector headed by ex-RBI
Governor RN Malhotra.
● The prime objective of the scheme is to provide insurance coverage to the rural public in general and
.
to benefit weaker sections and women workers of rural areas in particular and also to spread
insurance awareness among the rural population.
GRID-INDIA granted Miniratna Category-I status by power ministry
● Grid Controller of India Limited (GRID-INDIA) has been designated as a Miniratna Category-I central
public sector enterprise by the Ministry of Power, recognizing its integral role in the power sector.
● Comprising five Regional Load Despatch Centres (RLDCs) and the National Load Despatch Centre
(NLDC), GRID-INDIA shoulders the immense responsibility of managing the All India synchronous
grid, one of the world's largest and most intricate power systems.
● Miniratna Category-I status: - The CPSEs which have made a profit in the last three years
continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a
positive net worth are eligible to be considered for grant of Miniratna-I status.
● Miniratna Category-II status: - The CPSEs which have made a profit for the last three years
continuously and have a positive net worth are eligible to be considered for grant of Miniratna-II
status.
About GRID
● Grid Controller of India Limited (GRID-INDIA)was founded in March 2009 and is headquartered in
New Delhi.
● Mr. S.R. Narasimhan is the Chairman and Managing Director of the GRID-INDIA.
Centre likely to notify MGNREGS wage revision, calls it 'routine' exercise
● The Rural Development Ministry may notify revision in wage rates under the Mahatma Gandhi
National Rural Employment Guarantee Scheme and it has received a clearance from the Election
Commission as the poll code is in force.
● Though ministry officials refused to comment on the issue because of the model code of conduct
(MCC) being in place after the announcement of the Lok Sabha poll schedule, they said it is a
"routine" matter and that ministries approach the EC for clearances when the model code is in place.
● According to a source, the changes in rates are to be notified for the upcoming financial year starting
April 1.
● The Centre determines wages under the flagship scheme under sub-section (1) of section 6 of the
Mahatma Gandhi National Rural Employment Guarantee Act, 2005, which says the Central
Government may, by notification, specify the wage rate for its beneficiaries.
Government notifies PIB's Fact Check Unit under IT Rules 2021
.
● The government has notified the ‘Fact Check Unit’ (FCU) under the Press Information Bureau (PIB)
of the Ministry of Information and Broadcasting, as the fact check unit of the Centre.
● The Ministry of Electronics and Information Technology (MeitY) notified the PIB FCU under the
provisions of the sub-clause (v) of sub-rule (1) of rule 3 of the Information Technology (Intermediary
Guidelines and Digital Media Ethics Code) Rules, 2021.
● The Fact Check Unit under PIB was established in November 2019 with the stated objective of
acting as a deterrent to creators and disseminators of fake news and misinformation.
DGCA defers June 1 deadline for new rules on pilots’ rest, duty times
● India's aviation regulator has postponed the deadline for airlines to implement new rules on rest and
duty times for pilots without giving any reason or new target date.
● Announced in January, the rules increased flight crews’ weekly rest periods to 48 hours from 36 and
cut pilots’ night flight duty times to a maximum of 10 hours from 13.
● The Federation of Indian Airlines warned of the cancellation risk as the watchdog’s deadline left too
little time to hire and train the 25% more pilots required to satisfy the new rules.
● Recently Tata Group-owned Air India was fined 8 million rupees ($96,000) by the regulator for
breaching limits on flight duty times and fatigue management.
India's GAIL to commission its first green hydrogen project in April 2024
● India's state-run natural gas company, GAIL (India) Ltd, is preparing to commission the country's first
green hydrogen project.
● As reported by Reuters and confirmed by multiple sources within the company, this pioneering
initiative is slated to commence operations at GAIL's Vijaipur complex in Madhya Pradesh by April.
● The project comprises a 10-megawatt proton exchange membrane electrolyser imported from
Canada for the production of green hydrogen.
● The report added that once operational, the unit is expected to produce approximately 4.3 metric
tons of hydrogen per day, boasting a purity level of 99.999% by volume.
Centre to borrow ₹7.5 trillion in April-September FY25

● The Centre will borrow ₹7.5 trillion in the first half of the upcoming financial year.
● The borrowing for FY25 would be done by issuing dated government securities along with ₹12,000
crore of sovereign green bonds.
.
● In the interim budget for FY25, the government pegged its borrowing from the market at ₹14.13
trillion.
● Out of gross market borrowing of ₹14.13 lakh crore (trillion) projected for FY 2024-25 in the union
budget, ₹7.50 lakh crore (53.08%) is planned to be borrowed in the first half through dated
securities, including ₹12,000 crore through issuance of sovereign green bonds
● Based on market feedback and in line with global market practices, the government has introduced a
new dated security with a 15-year tenor.
● Through the 15-year security, the Centre will borrow ₹1.04 trillion in the first half of the next financial
year.
● The weekly borrowing through issuance of treasury bills in the first quarter of FY25 is expected to be
₹27,000 crore for the first seven auctions and ₹22,000 crore for the subsequent six.
● The Centre will issue 91-day treasury bills worth ₹1.44 trillion, 182-day T-bills worth ₹79,000 crore,
and 364-day T-bills worth ₹98,000 crore.
No tweaks to new online gaming taxation regime till SC decision
● The federal indirect tax body is unlikely to make any changes to the 28% goods and services tax
(GST) regime on online money gaming until the Supreme Court gives its final order on a bunch of
tax disputes for the period before its introduction last October.
● As per the decisions of the 51st GST Council meeting last August, ministers were to review the
implementation of the tax regime for the online gaming industry after six months of its
implementation.
Government relaxes export norms for dual-use telecom equipment, information security software
● The government notified a policy for general authorisation for the export of certain telecom and
information security-related items under a policy for dual-use products.
● In a notification, the Directorate General of Foreign Trade (DGFT) announced to grant one-time bulk
licences for these items under the Special chemicals, organisms, materials, equipment and
technologies (SCOMET) category.
● Last year, the SCOMET policy of drones for civilian use was simplified and liberalised for exports.
● The applicant exporter will have to submit an application for getting a one-time license through the
online SCOMET portal and attach the information in the prescribed format.
● The DGFT also notified a detailed procedure for this authorisation as per which export of
indigenous/imported SCOMET items will be allowed based on a one-time General Authorization
.
(GAET).
The government plans to borrow Rs 7.5 lakh cr from the market in H1FY25 including Rs 12,000 crore
via Sovereign Green Bonds
● The Finance Ministry plans to borrow Rs 7.50 lakh crore, 53 per cent of its overall FY25 target, in the
first half.
● The gross market borrowing of Rs 7.50 lakh crore shall be completed through 26 weekly auctions.
● In the ongoing financial year, the government plans to borrow a total of Rs 14.13 lakh crore.
● Further, the Centre has also introduced a new dated security of 15-year tenor.
● Of the total amount, Sovereign Green Bonds account for Rs 12,000 crore, which will be issued in
two tranches of Rs 6,000 crore each for a period of 10 years.
India achieves 16% decline in new TB cases, 18% reduction in mortality since 2015
● India’s efforts to ensure early tuberculosis detection and treatment initiation, along with a host of
community engagement efforts has resulted in a decline of 16% in TB incidence (new cases
emerging each year) and a 18% reduction in mortality due to TB, since 2015.
● The incidence rate in India had fallen from 237 per lakh population in 2015 to 199 per lakh
population in 2022, while the mortality rate had declined from 28 per lakh population in 2015 to 23
per lakh population in 2022, according to the India TB report 2024 released by the Union Health
Ministry on March 27, stating that the country has set 2025 as the target for eliminating the disease.
● Additionally, of all the TB cases notified in 2023, nearly 32% of notifications came from the private
healthcare sector which is an increase of 17% from the previous year.
● According to the data released in the report, while the overall notification of TB cases has improved
by over 50% in the last nine years on an annual basis, Uttar Pradesh saw the highest jump in
notifications (by 21% compared to the previous year) followed by Bihar (15%).
India releases second tranche of ₹500 crore to Bhutan

● India has released the second tranche of ₹500 crore to Bhutan for the development of infrastructure
related to the GyalSung Project.
● This comes less than a week after Prime Minister Narendra Modi concluded a fruitful two-day state
visit to Bhutan during which he assured Thimphu of New Delhi's firm support in its quest for
development and agreed to provide ₹10,000 crore to the Himalayan nation over the next five years.
.
Army Commanders’ Conference starts in hybrid mode for the first time
● Army Commanders' Conference, the first for the year 2024 will be organised in hybrid mode with
the conference in virtual mode scheduled on 28th March 2024 and thereafter physical mode in
New Delhi on 01st and 02nd April 2024.
● Shri Rajnath Singh, Hon’ble Raksha Mantri will also address and interact with senior military
leadership during the conference.
● The conference serves as a pivotal forum for apex leadership of the Indian Army to brainstorm
conceptual issues, review and assess the overall security situation.
● Starting on 28th March 2024, the conference will be chaired by the Chief of the Army Staff
(COAS), General Manoj Pande at New Delhi with Army Commanders' participating in virtual
mode from their respective Command Headquarters.
● The deliberation will be on critical agendas impacting the field army and veterans’ welfare. The
conference will also feature talks by distinguished Subject Matter Experts on the evolving
geopolitical landscape and ramifications for national security.
INTERNATIONAL NEWS
FATF Delists United Arab Emirates, Uganda, Barbados, and Gibraltar from Watchlist
• Financial Action Task Force’s (FATF) in its plenary meeting in February, 2024 removed the United
Arab Emirates (UAE) successfully from the watchdog’s grey list.
• Barbados, Gibraltar and Uganda will also be removed from the FATF's grey list.
• Grey List Additions: Kenya and Namibia have been added to the Financial Action Task Force
(FATF) greylist.
• The two African states are now under increased monitoring by the organisation for their inadequate
measures against money laundering and terrorism financing.
Mauritius Cabinet Approves Amendment to India-Mauritius Double Taxation Avoidance Agreement to

Comply with Base Erosion and Profit Shifting Minimum Standards
• The Mauritius Government has decided to amend the Double Taxation Avoidance Agreement
(DTAA) with India in order to go with Organisation for Economic Co-operation and Development
(OECD)’s proposal on Base Erosion and Profit Shifting.
.
• Objective of Amendment : To prevent tax avoidance or minimization through exploitative tactics,

thus creating more stringent norms for multinationals investing in India.
About Mauritius :
• President : Prithvirajsing Roopun
• Prime Minister : Pravind Jugnauth
• Capital : Port Louis
• Currency : Mauritian rupee
Sweden Becomes the 32nd Member State to Join NATO Alliance
• Sweden has officially become the 32nd member of NATO after it completed the accession process
in Washington.
• The handover of documents took place at a ceremony two years after Sweden applied to join the
military alliance following the full-scale war between Russia and Ukraine in
February 2022.
• Completion of Accession: The handover of documents marking Sweden's membership took place
at a formal ceremony, signifying the completion of the accession process.
About NATO :
• North Atlantic Treaty Organization (NATO) is a military alliance established by the North Atlantic
Treaty (also called the Washington Treaty) of April, 1949, by the United States, Canada, and
several Western European nations to provide collective security against the Soviet Union.
• Headquarters : Boulevard Leopold III in Brussels, Belgium.
• Secretary General : Jens Stoltenberg
• Membership : 32 states
Sweden officially joins NATO, ending decades of neutrality

• Sweden formally joined NATO as the 32nd member of the transatlantic military alliance, ending
decades of post-World War II neutrality and centuries of broader non-alignment with major powers
as security concerns in Europe have spiked following Russia’s 2022 invasion of Ukraine.
• President Joe Biden congratulated Sweden on its admission and stated it was a sign that Russian
President Vladimir Putin's intervention in Ukraine had united, rather than divided, the alliance.
About NATO:
.
• The North Atlantic Treaty Organization (NATO), also called the North Atlantic Alliance, is
an intergovernmental military alliance of 32 member states – 30 European and two North
American.
• Formation: 4 April 1949
• Headquarters: Brussels, Belgium
• Membership: 32 states
• Secretary General: Jens Stoltenberg
• Chair of the NATO Military Committee: Rob Bauer
About Sweden:
• Capital: Stockholm
• Official language: Swedish
• Continent: Europe
• Prime Minister: Ulf Hjalmar Kristersson
Panama becomes 97th member to ratify the International Solar Alliance
• Panama has officially ratified the International Solar Alliance (ISA), marking its entry as the 97th
member nation. The information was divulged by Randhir Jaiswal, spokesperson of the Ministry of
External Affairs.
• Panama's commitment to sustainable energy was underscored as Ambassador Yasiel
Burillo presented the Instrument of Ratification to Joint Secretary (Economic Diplomacy)
Abhishekifs during a meeting in New Delhi.
• This formal act solidifies Panama's pledge to collaborate within the framework of the ISA, joining
other nations in the pursuit of harnessing solar energy for a greener future.
About ISA:
• ISA was conceived as a joint effort by India and France.
• Currently, 116 countries are signatories to the ISA Framework Agreement.
• The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform
for increased deployment of solar energy technologies as a means for bringing energy access,
ensuring energy security, and driving energy transition in its member countries
• Notably, the sixth assembly of the International Solar Alliance was hosted at 'Bharat Mandapam,'
Pragati Maidan in the national capital on October 31.
• ISA Director General Ajay Mathur stated that the investment in solar is expected to be 380 billion
dollars this year, as last year witnessed an investment of 310 billion.
.
• He also stated that the ISA is supporting the growth of 9.5 GW of solar energy in projects across
the world.
About Panama:
• Capital: Panama City
• Currencies: Panamanian Balboa, United States Dollar
• Official language: Spanish
• President: Laurentino Cortizo
France inscribes the right to abortion in its constitution as the world marks International Women's Day
● France inscribed the guaranteed right to abortion in its constitution, a powerful message of
support for women’s rights on International Women’s Day (March 08, 2024).
● Justice Minister Eric Dupond-Moretti used a 19th-century printing press to seal the amendment in
France’s constitution at a special public ceremony. Applause filled the Place Vendome.
● In January 2024, France’s Parliament passed an amendment to provide constitutional validity to
the right to abortion.
● Abortion, although legal in France since 1975, has now been a “guaranteed freedom” for women.
About France :
● Capital : Paris
● Currency : CFP franc
Pokhara Set to be Designated as Nepal's Tourism Capital

● The government of Nepal officially declared Pokhara, located in the Gandaki province, as the
tourism capital of the country.
● The declaration, made during a ceremony at Barahighat near the picturesque Phewa Lake,
marks a significant step for the city and the country's tourism industry.
● Criteria for Designation:Pokhara was chosen as the tourism capital based on its fulfillment of
criteria across 20 different indicators.
● Memorandum Submission by Pokhara Tourism Council (PTC):The PTC submitted a
memorandum to the Prime Minister during the ceremony, outlining key areas for improvement.
● One major request was the immediate launch of international flights from the Pokhara Regional
.
International Airport.
About Pokhara :
● The Nepali word "Pokhari " means "pond".
● Pokhara is a metropolitan city in central Nepal, which serves as the capital of Gandaki Province.
● It is the second most populous city of Nepal after Kathmandu, with 599,504 inhabitants living in
120,594 households in 2021.
● It is the country's largest metropolitan city in terms of area.
About Nepal :
● President : Ram Chandra Poudel
● Prime Minister : Pushpa Kamal Dahal
● Capital : Kathmandu
● Currency : Nepalese rupee
Australia Commits $3 Billion to British Industry for Timely Construction of Nuclear-Powered Submarines
● Australia commits 4.6 billion Australian dollars (USD 3 billion) to British industry to aid in the
construction of nuclear-powered submarines, ensuring the timely delivery of its new fleet.
● The announcement follows the signing of a defence and security pact between Australia and the
UK, aimed at addressing challenges such as China's increased activity in the South China Sea
and South Pacific.
● Boosting Capacity in UK: The 10-year deal will enhance capacity at the Rolls-Royce factory in
Derby, UK, to manufacture the nuclear reactors required for the submarines to be built by BAE
Systems in Adelaide, Australia.
● Trilateral Security Partnership (AUKUS): Under the AUKUS agreement, Australia's ASC and UK-
based BAE Systems will collaborate to construct the SSN-AUKUS submarines for the Royal
Australian Navy.
About AUKUS :
● AUKUS is a trilateral security partnership between the United Kingdom (UK), the United States of
America (USA) and Australia agreed in 2021.
● This partnership is designed to create a stronger, more resilient trilateral submarine industrial
base, supporting submarine production and maintenance in all three countries.
About Australia :
● Prime Minister - Anthony Albanese
.
● Capital - Canberra
New Delhi Hosts 4th Shanghai Cooperation Organisation Startup Forum

● The 4th edition of the Shanghai Cooperation Organisation (SCO) Startup Forum was organized
in New Delhi.
● The initiative focused on broadening startup interactions among the SCO Member States,
fostering an environment conducive to innovation, promoting job creation, and inspiring young
talent to develop innovative solutions.
● The Shanghai Cooperation Organisation Startup Forum is a platform for the stakeholders from
the startup ecosystems from all SCO Member States to interact and collaborate.
● It aims to create multilateral cooperation and engagement for startups among the SCO Member
States.
● It will empower the local startup ecosystems in the Member States.
● Going forward, India will host the second meeting of the SWG in November 2024 and SCO
Startup Forum 5.0 in January 2025.
● The first Meeting of the SCO Special Working Group on Startups and Innovation (SWG),
permanently chaired by India, was organised on the theme ‘Growing from Roots’ in 2023.
About SCO :
● The Shanghai Cooperation Organization (SCO) is an intergovernmental organization founded in
Shanghai on 15 June 2001.
● The SCO currently comprises nine Member States (China, India, Kazakhstan, Kyrgyzstan,
Russia, Pakistan, Tajikistan and Uzbekistan, Iran).
STATE NEWS
Uttar Pradesh Becomes First State to Issue 5 Crore Ayushman Cards under Ayushman Bharat Pradhan
Mantri Jan Arogya Yojana
• Uttar Pradesh (UP) has emerged as the first State in the country to issue 5 crore Ayushman cards
under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
• Ayushman Card Distribution : The UP government has issued a total of 50,017,920 Ayushman
cards, benefiting 74,382,304 individuals across the state.
.
• Hospital Participation:The scheme encompasses 3,716 hospitals in Uttar Pradesh, ensuring a wide
network of healthcare facilities for beneficiaries.
• Health Claims and Settlement:A total of 3,481,252 health claims have been filed under Ayushman
Bharat in the state.
About AB-PMJAY :
• Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) - was launched in September
2018 with the aim of providing secondary and tertiary care services to the vulnerable population in
society.
• Insurance Coverage:The scheme offers medical coverage of Rs. 5 lakh per family per year for
secondary and tertiary care hospitalisation to poor and vulnerable families.
About UP :
• National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,
Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
Chapchar Kut Festival Celebrated with Traditional Zeal Across Mizoram

• Mizoram's biggest festival Chapchar Kut celebrated with traditional enthusiasm and joy across the
state.
• On the occasion, thousands of people gathered at the Assam Rifles Ground-Lammual in Aizawl.
• The festival showcased the traditional and cultural richness of the Mizo community through the
performance of songs and cultural dances.
• This festival is celebrated every year on the first Friday of the month of March.
About Mizoram :
• Governor : Kambhampati Hari Babu
• Chief Minister : Lalduhoma
• Capital : Aizawl
• National Park : Murlen National Park, Phawngpui National Park
• Wildlife Sanctuary : Khawnglung Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Thorangtlang
Wildlife Sanctuary
.
Himachal Pradesh Chief Minister Sukhvinder Sukhu Introduces Monthly Rs 1,500 Aid for Women Aged
18-60
• Himachal Pradesh (HP) Chief Minister (CM) Sukhvinder Sukhu announced a monthly aid of ₹1,500
for women aged 18 to 60 from the next financial year, fulfilling a Congress party 'guarantee'
promised before the state Assembly elections.
• The initiative is called the "Indira Gandhi Pyari Behna Sukh Samman Nidhi Yojna," and the state
government plans to allocate ₹800 crore annually for this scheme.
• The financial support aims to benefit over 5 lakh women in the specified age group.
• With this announcement, five out of the 10 poll promises made by the Congress party have been
fulfilled by the Himachal Pradesh government.
About HP :
• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
Delhi Finance Minister Atishi Announces Monthly Assistance Scheme of Rs 1000 for Women Aged 18
and Above in Delhi Budget
• Delhi Finance Minister Atishi announced the introduction of the 'Mukhyamantri Mahila Samman
Yojana,' which will provide a monthly assistance of ₹1,000 to women above the age of 18 starting
from the fiscal year 2024-25.
• The budget for the financial year 2024-25 in the Delhi Assembly was presented by Atishi, with an
outlay of ₹76,000 crore.
• Scope and Benefits: Over 50 lakh women are expected to benefit from this scheme, empowering
them to meet their needs independently without relying on others.
• The government has allocated ₹2,000 crore for the implementation of this initiative.
About Delhi :
• Wildlife Sanctuary : Asola Bhatti Wildlife Sanctuary
Cuttack's Rupa Tarakasi and Banglar Muslin Awarded Geographical Indication (GI) Tag
.
• Cuttack's renowned Rupa Tarakasi, also known as Silver Filigree, has been awarded the
Geographical Indication (GI) tag by the Geographical Indications Registry in Chennai, recognizing
its unique geographical origin and craftsmanship.
• The application for the GI tag was filed by the Odisha State Co-operative Handicrafts Corporation
Limited, with facilitation from the Department of Textile and Handicrafts, Government of Odisha,
underscoring the state's support for promoting local crafts.
• Filigree, traditionally associated with fine craftsmanship and intricate designs in classical jewellery,
holds a significant cultural and artisanal heritage in Cuttack.
About Odisha :
• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
Bengaluru’s First Driverless Metro Train, Aided by AI

• The Bengaluru Metro Rail Corporation Limited (BMRCL) is embarking on a significant milestone
with the introduction of driverless trains equipped with cutting-edge technology.
• As the first of its kind in Bengaluru, these trains represent a leap forward in urban
transportation infrastructure.
About Karnataka:
• Capital: Bengaluru (Executive Branch)
• Chief minister: Siddaramaiah
• Governor: Thawar Chand Gehlot
Kerala Leads Nation in Highest Passport Penetration Among Women
• In line with the visible shift in the migration pattern from Kerala of late, women from the southern
State hold the highest number of passports issued in the country till 2023, followed by
Maharashtra, Tamil Nadu, Punjab, and Gujarat.
• Overall Passport Holders: Kerala has the highest number of total passport holders in the country,
reaching 98.92 lakh, which includes both males and females.
• Male Passport Holders: Uttar Pradesh has the highest number of male passport holders, with a
count of 70.58 lakh.
About Kerala:
• Capital: Thiruvananthapuram
.
• Chief Minister: Pinarayi Vijayan

• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent
Valley National Park, Indira Gandhi National Park
Maharashtra Introduces 4th Women's Policy for Comprehensive Development

• The state of Maharashtra has introduced its 4th women's policy, aimed at fostering the holistic
development of women.
• Objectives of the Fourth Policy: The newly announced fourth policy aims to promote gender
equality and establish a society where women and other gender communities do not face struggles
for their identity and rights.
• Maharashtra has become the first state in India to introduce a women's policy, showcasing its
commitment to women's development and empowerment.
• Aditi Tatkare, the Women and Child Development Minister, unveiled the policy on the eve of
Women’s Day, coinciding with the golden jubilee year of the Women’s Economic Development
Corporation.
About Maharashtra :
• Governor: Ramesh Bais
• Capital: Mumbai
Sanctuary
Kerala Set to Introduce India's First Government-Owned OTT Platform, CSpace

• Kerala's Chief Minister Shri Pinarayi Vijayan launched a government-supported OTT platform
called CSpace at the Kairali Theatre.
• This marks India's first government-backed OTT platform.
• Aim : To offer a mix of informative and entertaining content tailored especially for the masses.
.
• Viewers can access the CSpace app for download from both the PlayStore and App Store starting
March 7, 2024.
About Kerala:
Uttarakhand Chief Minister Pushkar Singh Dhami Digitally Launches 122 Schemes Across 17
Departments Valued at ₹8275.51 Crore
• Uttarakhand Chief Minister Shri Pushkar Singh Dhami inaugurates and lays the foundation stone
for 122 schemes across 17 departments, totalling Rs 8275.51 crore, utilizing digital platforms for
the ceremony.
Scope of Projects:
• Inauguration: Projects worth Rs 1,048.15 crore across 11 departments are inaugurated during the
event.
• Foundation Stones Laid: Additionally, foundation stones are laid for schemes valued at Rs
7,227.36 crore across 15 departments.
Special Schemes:
• Prepaid Metre Scheme: The Chief Minister lays the foundation stone for the Energy Department's
prepaid metre scheme, valued at Rs 2027 crore.
About Uttarakhand :
• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• National Park : Corbett National Park, Rajaji national Park, Nanda Devi National Park
• Wildlife Sanctuary : Kedarnath Wildlife Sanctuary
The First Government Homeopathic College in Northern India to be Established in Kathua, Jammu and
Kashmir
.
• Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh,
announced the establishment of North India’s first Government Homeopathic College in the
Jasrota area of Kathua district, Jammu & Kashmir (J&K).
• The project is centrally funded at Rs 80 crore, signifying a significant investment in healthcare and
education infrastructure development in the region.
• Infrastructure: The college will cover an area of over 8 acres, with provisions for further expansion.
About J&K :
• Lieutenant Governor : Manoj Sinha
• Capital : Srinagar, Jammu
• National Park : Dachigam National Park, Kishtwar National Park, Kazinag National Park
Karnataka and Rajasthan States Pioneer the Country's First Exploration Licence for Critical and Deep-
Seated Minerals
• In a pioneering step towards enhancing the mining sector, Karnataka and Rajasthan have
commenced the auction of Exploration Licences (EL) for critical and deep-seated minerals.
• Auction Blocks: Karnataka offers one block featuring gold, copper, and lithium, while Rajasthan
opens bids for three blocks encompassing rare earth elements, rare metals, and potash minerals,
signaling a diversification of mineral resources.
• Legal Framework Amendment: This significant development follows the amendment of the Mines
and Minerals (Development and Regulation) Act, 1957, through the MMDR Amendment Act, 2023,
effective from August 17, 2023.
Kerala School Introduces Iris, India's First AI Humanoid Teacher Powered by Generative Technology
• A school in Thiruvananthapuram, Kerala has unveiled a groundbreaking innovation in education
with the introduction of India’s first Generative Artificial Intelligence(AI) teacher robot named ‘Iris’.
• Developed in collaboration with Makerlabs Edutech, Iris aims to transform traditional teaching
methods through personalised learning experiences for students.
• Iris has been deployed at KTCT Higher Secondary School, Thiruvananthapuram, marking a
significant advancement in educational technology within the region.
• Built under the Atal Tinkering Lab (ATL) project initiated by NITI Aayog, this AI teacher robot, Iris,
boasts a range of features aimed at revolutionising traditional teaching methods.
About Kerala:
.
Chief Minister Yogi Adityanath Launches 'Mukhyamantri Yuva Udyami Vikas Abhiyan Scheme' to
Support Young Entrepreneurs in Uttar Pradesh
• Chief Minister Shri Yogi Adityanath introduced the "Mukhyamantri Yuva Udyami Vikas Abhiyan
(MYUVA)" scheme in Uttar Pradesh (UP), with the objective of fostering entrepreneurship among
the state's youth.
• The scheme underscores the government's dedication to empowering young entrepreneurs and
cultivating an environment conducive to innovation and business development.
• Interest-Free Financing: Under the MYUVA scheme, interest-free financing is provided to assist
young individuals in launching their entrepreneurial ventures, with projects valued up to Rs 5 lakhs.
About UP :
Keyi Panyor Designated as Arunachal Pradesh's 26th District

• Keyi Panyor became the 26th district of Arunachal Pradesh by carving out the areas from Lower
Subansiri.
• The new district, which was demanded by the people of the Nyishi community for a long time, will
have its headquarters at Ter Gapin-Sam Sarth.
Kerala Declares Man-Animal Conflict as State-Specific Disaster

● Amid repeated deaths from animal attacks and rising anger over them, Kerala declared man-
animal conflict as a state-specific disaster, becoming the first state in the country to do so.
.
● At present, managing man-animal conflict is the responsibility of the forest department, which
acts as per the Wildlife Protection Act.
● Previous Declarations: In 2015, Odisha had declared snakebite a state-specific disaster.
● In 2020, Kerala declared Covid as a state-specific disaster.
About Kerala:
● Capital: Thiruvananthapuram
● Chief Minister: Pinarayi Vijayan
● Governor: Arif Mohammad Khan
● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park
Centre Grants Geographical Indication (GI) Tag to Traditional Majuli Masks in Assam
● The traditional Majuli masks in Assam were given a Geographical Indication (GI) tag by the
Centre.
● Majuli manuscript painting also got the GI label.
● Majuli, the largest river island in the world and the seat of Assam’s neo-Vaishnavite tradition has
been home to the art of mask-making since the 16th century.
What are Majuli masks?
● The handmade masks are traditionally used to depict characters in bhaonas, or theatrical
performances with devotional messages under the neo-Vaishnavite tradition, introduced by the
15th-16th century reformer saint Srimanta Sankardeva.
About GI Tag :
● A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
territory.
● A GI is a label that is applied to products that have a specific geographical origin and that have
● The tag is valid for 10 years after which it is renewed.
About Assam :
● Governor : Gulab Chand Kataria
● Chief Minister : Himanta Biswa Sarma
.
● Capital: Guwahati
● National Park: Kaziranga National Park, Manas National Park, Nameri National Park
● Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary
Ahmednagar Officially Renamed as 'Ahilyanagar' in Maharashtra

● The Maharashtra Cabinet formally approved the renaming of Ahmednagar district to
‘Ahilyanagar’ after the 18th century Maratha queen Ahilyabai Holkar.
● The decision to rename the district had already been announced by Chief Minister Eknath Shinde
in May last year on the 298th birth anniversary of Ahilyabai Holkar, who had established
Maheshwar (in Madhya Pradesh) as the seat of the Holkar dynasty.
● The renaming of Ahmednagar follows the Mahayuti government’s decision to rename
Aurangabad district as ‘Chhatrapati Sambhajinagar’ and Osmanabad as ‘Dharashiv’.
● Ahmednagar was founded in 1494 AD by Ahmad Nizam Shah, who later established an
independent Sultanate in Ahmednagar (the Nizam Shahi dynasty) after the break-up of the
Bahamani Sultanate into five successor states known collectively as the Deccani Sultanates.
● Meanwhile, the State Cabinet has also decided to rename 8 railway stations in Mumbai by
effecting a name change from their British-era ones.
● The station name changes are as follows: Curry Road to Lalbaug, Marine Lines to Mumbadevi,
Sandhurst Road to Dongri, Cotton Green to Kalachowki, Charni Road to Girgaon, Dockyard
Road to Mazgaon, King’s Circle to Tirthakar Parshivnath, Mumbai Central to Nana Jagannath
Shankarsheth.
About Maharashtra :
● Governor: Ramesh Bais
● Chief Minister: Eknath Shinde
● Capital: Mumbai
● National Park: Tadoba National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
● UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Rajasthan Government Initiates Free Seed Kits Program to Enhance Millets Production
.
● The Rajasthan government has taken the initiative to distribute free seeds of millet and coarse
grains to farmers to enhance millet production in the state.
● The government plans to provide free mini kits of various seeds to farmers, including maize,
pearl millet (bajra), mustard, moong, sorghum (jowar), and moth seeds.
● Targeted Farmers: The distribution is aimed at benefiting approximately 1.2 million farmers with
maize seeds, 800,000 farmers with pearl millet (bajra) seeds, 700,000 farmers with mustard
seeds, 400,000 farmers with moong seeds, and 100,000 farmers with sorghum (jowar) and moth
seeds.
● Rajasthan's Contribution to Millet Production: Rajasthan holds a significant share, accounting for
26% of the total millet production in the country.
● It is noted for its production of pearl millet and sorghum, with the state contributing 41% to the
country's bajra production.
● Rajasthan Millet Promotion Mission: The government initiated the Rajasthan Millet Promotion
Mission in the fiscal year 2022-23.
● PM Kisan Samman Nidhi: The PM Kisan Samman Nidhi has been increased from Rs 6,000 to Rs
8,000 per year per farmer, providing additional financial support to farmers.
● Minimum Support Price (MSP) for Wheat: The minimum support price for wheat has been
increased to Rs 2,400 per quintal, accompanied by an additional bonus of Rs 125 per quintal.
About Rajasthan :
● Governor : Kalraj Mishra
● Chief Minister : Bhajan Lal Sharma
● Capital : Jaipur
● National Park : Keoladeo National Park, Ranthambore National Park
● Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary
India's Largest Startup Gathering, 'Startup Mahakumbh,' to Commence in Delhi

● A 3-day startup event, named "Startup Mahakumbh," is scheduled to commence in Delhi.
● The event will showcase over 1,000 startups, more than 500 incubators, hundreds of investors,
and delegations from over 10 different countries.
● Aim of the event : To connect startups with a spectrum of investors, including venture capitalists,
investors, and potential corporate partners.
● Organizers: The event is organized by Associated Chambers of Commerce & Industry of India
.
(ASSOCHAM), NASSCOM, Bootstrap Incubation and Advisory Foundation, TiE, and Indian
Venture and Alternate Capital Association (IVCA).
● Support: It is supported by the Department for Promotion of Industry and Internal Trade (DPIIT),
Ministry of Commerce and Industry.
● State Participation: 23 states will participate in the event under the theme "Bharat Innovates,"
aiming to promote their startup ecosystem and policies.
About Delhi :
● Lt. Governor : Vinai Kumar Saxena
● Chief Minister : Arvind Kejriwal
Supreme Court Halts Assam's Attempt to Revoke Pobitora Wildlife Sanctuary Notification
● The Supreme Court froze the Assam government’s move to withdraw a nearly 26-year-old
notification constituting the Pobitora wildlife sanctuary, which hosts one of the largest rhino
populations in the country.
● The Assam Cabinet made the decision to withdraw the notification issued by the State Forest
Department in 1998, which constituted the Pobitora wildlife sanctuary.
● Reason for Withdrawal: The government's rationale for withdrawing the notification was the
absence of settlement of rights of marginalized communities residing in villages like
Thengabhanga, Murkata, and Mayong, who had been living in the area since before
Independence.
● Previous Supreme Court Action: In the previous year, the Supreme Court had issued notices to
the Ministry of Environment, Forest and Climate Change (MoEF) and the Assam government in
response to a plea challenging the declaration of an eco-sensitive zone around Pobitora Wildlife
Sanctuary.
BUSINESS NEWS
In February 2024, India's GST revenue climbed by 12.5% to 1.68 lakh billion rupees.
• A total of one lakh 68 thousand 337 crore rupees gross GST revenue has been collected during
February 2024.
• This marks a robust 12.5 percent increase compared to that in the same month last year.
• This growth was driven by a 13.9 per cent rise in GST from domestic transactions and an 8.5
percent increase in GST from the import of goods.
.
• GST revenue net of refunds for February this year is 1.51 lakh crore rupees which is a growth of
13.6 percent over that for the same period last year.
Production of coal increases to 74.76 MT in February 2024.
• The Ministry of Coal has recorded a surge in overall coal production during February 2024 as per
provisional data, attaining 96.60 Million Tonne (MT) of coal production in comparison to 86.38 MT
of the corresponding month in the previous year, representing an increase of 11.83 per cent.
• According to the Coal Ministry, The production of Coal India Limited (CIL) has risen to 74.76 MT in
February 2024 as compared to 68.78 MT in February 2023 with a growth of 8.69 per cent.
L&T commissions the first indigenously manufactured Hydrogen Electrolyser at Hazira
• Larsen & Toubro (L&T) commissioned its first indigenously manufactured electrolyser at the Green
Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat.
• This step marks L&T Electrolysers Limited's entrance into the domestic manufacturing of
electrolysers, aligning with the company's focus on enhancing sustainable energy solutions.
• The electrolyser, with a rated power capacity of 1 MW, expandable to 2 MW, is capable of
producing 200 Nm3/Hr of hydrogen.
Depositors can claim their unclaimed amount refunded from DEA Fund
• Customers or depositors can claim a refund of their unclaimed amounts from their banks.
• After paying the depositor with interest, banks can lodge a claim for a refund from the Depositor
Education and Awareness (DEA) Fund.
• The DEA Fund Scheme, 2014, was formulated by the RBI.
• The scheme came into effect on May 24, 2014, i.e., the date of notification of the scheme in the
Official Gazette of India.
India to transition to middle-income economy by FY36; hit $15 trillion mark by FY47
• The Indian economy will transit to an upper middle-income country by FY36, reaching the $15
trillion mark by FY47, India Ratings and Research (Ind-Ra).
• The rating agency noted that if the economy maintains a real GDP growth of 6.25%, it could
become an upper-middle-income country by FY36, with per capita income reaching $9,218 by
FY47.
• According to the rating agency, the size of the Indian economy is likely to reach $15 trillion by
2047, which is around half of the government’s projections. Finance Minister Nirmala Sitharaman
recently said that achieving a $30 trillion economy by 2047 is a “conservative” estimate.
.
Coal Sector Aims to Ramp up Renewable Energy Capacity to Over 9 GW by 2030

• The coal sector aims to ramp up renewable energy capacity to over 9 GW by the year 2030,
signalling a profound commitment to sustainability and environmental stewardship.
• In alignment with the Prime Minister's ‘Panchamrit’ announcement during COP-26 and to progress
towards the goal of net zero carbon emissions by 2070, Ministry of Coal has taken significant steps
for promoting renewables initiatives towards reducing carbon footprints.
Coal PSUs achieve over 106% of the capital expenditure target for 2023-24
• Coal PSUs under the administrative control of MoC have been at the forefront of doing CAPEX to
assist and contribute to transforming the Indian economy.
• Over the past few years Coal CPSE has been overachieving the CAPEX Target.
• In FY 21-22, Coal PSUs had achieved 104.86% of their target.
• Similar performance was repeated in FY 2022-23 where coal PSUs achieved around 109.24% of
its target.
• There has been consistent YoY growth in CAPEX by Coal PSUs over the last 3 years.
SJVN Green Energy to develop solar projects of over 1.3GW in Maharashtra
• SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under
the administrative control of the Ministry of Power, Government of India, has received Letters of
Award for the development of Solar Power Projects of capacity 1,352 MW in Maharashtra.
• The projects will be developed through SJVN Green Energy Limited (SGEL), a wholly owned
subsidiary of SJVN, in four districts of the state, namely, Nashik, Solapur, Ahmednagar, and Pune.
• Chairperson & Managing Director, SJVN, Smt. Geeta Kapur has informed that these solar projects
will be developed under Mukhya Mantri Saur Krushi Vahini Yojana 2.0, of the Government of
Maharashtra.
India's retail inflation eases to 5.09 per cent in February 2024
● India's retail inflation eased marginally to 5.09 per cent on an annual basis in February 2024 as
against 5.10 per cent in the previous month.
● The number has remained within the Reserve Bank of India's (RBI) tolerance band of 2-6 per cent.
● The rural inflation rate remained unchanged at 5.34 per cent, meanwhile, the urban inflation rate
declined to 4.78 per cent from 4.92 per cent in January.
● The data provided by the Ministry of Statistics and Programme Implementation (MoSPI) revealed,
India's industrial production grew 3.8 per cent in January 2024.
.
● In its February meeting, the RBI Monetary Policy Committee (MPC) left its inflation forecast for FY24
unchanged at 5.4 per cent.
NSE to reduce cash, and derivative transaction charges by 1 per cent

● The National Stock Exchange (NSE) announced that its board has approved a one per cent
reduction in overall transaction charges across cash equity and equity derivatives segments and
products with effect from April 1, 2024.
● The domestic stock exchange said the reduction is expected to have an overall impact of around
₹130 crore per annum on the company's revenue from transaction charges.
● The expected date of completion of the sale is March 31, 2024.
About NSE
● National Stock Exchange of India Limited is one of the leading stock exchanges in India, based in
Mumbai.
NHPC is set to develop a 200 MW solar power project in Khavda, located in the Kachchh district of
Gujarat.
● NHPC Limited, India’s premier hydropower company and a central public sector enterprise under the
Ministry of Power has won the bid to develop a 200 MW capacity Solar Power Project to be set up
in the 1,125 MW RE Park of Gujarat State Electricity Corporation Ltd. (GSECL) at Khavda in
Kachchh district of Gujarat.
● The project will generate about 473 million units of electricity in the first year of commissioning and
the cumulative energy generation from the project over 25 years would be about 10,850 million units.
● NHPC will develop the project on a build-own-and-operate basis at a tentative development cost of
Rs. 847 crores.
Accenture Launches Accenture LearnVantage to Help Clients and Their People Gain Essential Skills
and Achieve Greater Business Value in the AI Economy
● Accenture has launched Accenture LearnVantage, a technology learning and training services for its
clients.
● The company will invest $1 billion in Accenture LearnVantage over three years and has agreed to
acquire educational platform Udacity.
● Accenture LearnVantage will help clients re-skill and upskill in the areas of technology, data and AI
to fill gaps created by advances in technologies.
.
● Julie Sweet, chair and CEO, Accenture.
Net direct tax collections likely to surpass FY24 target of Rs 19.45 lakh crores
● Advance tax payments have bolstered net direct tax collections, which may now surpass the
upwardly revised target of Rs 19.45 lakh crores by the end of this fiscal.
● Net direct tax collections from April 1, 2023, to March 15, 2024, stood at Rs 18.95 lakh crore, up
14.05% year on year, buoyed by advance tax collections of Rs 9.10 lakh crore.
● So far, corporates have paid Rs 6.72 lakh crore in advance tax while individuals accounted for Rs
2.37 lakh crore.
Coal stocks to rise even in summers, inventory may hit 155mt by FY24-end
● Coal stocks across power plants in the country will be enough to meet the anticipated surge in power
demand in the upcoming summer, according to Amrit Lal Meena, secretary of the Union Ministry of
Coal.
● Total coal stocks may touch 155 million tonnes by the end of the fiscal, against 125mt last year.
● The peak power demand in the next fiscal year is expected to touch 260 GW, a new high, and way
above the 243 GW hit last year.
Government's dividend collection from CPSEs hits record Rs 61,149 crores

● The government's dividend mopup from non-financial central public sector enterprises (CPSEs) and
entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the
revised estimate for 2023-24, with almost a fortnight to go this fiscal.
● The Department of Investment and Public Asset Management (Dipam) has recorded total receipts of
Rs 75,886 crore, comprising both disinvestment proceeds and dividend collections.
● Disinvestment revenue for the financial year currently stands at Rs 14,737 crore.
● The 2023-24 Interim Budget projected dividend collections of Rs 50,000 crore, which surpassed the
initial target of Rs 43,000 crore.
Adani Group Plans To Invest ₹ 1.2 Lakh Crore In Portfolio Companies In FY25
● Adani Group plans to invest more than ₹ 1.2 lakh crore ($14 billion) across its portfolio companies
that range from ports to energy, airports, commodities, cement and media in the fiscal year starting
April 1, as it doubles down on its $100 billion investment guidance over the next seven-ten years to
grow businesses
● The projected capital expenditure or capex for 2024-25 (April 2024 to March 2025) fiscal is 40%
.
higher than what the portfolio is estimated to have incurred in FY24.

● According to analysts, the portfolio is estimated to have incurred a capex of around $10 billion in
FY24 that ends on March 31.
● The group had previously guided a $100 billion capex over the next 7-10 years.
About Adani Group
● Founder: Gautam Adani
● Headquarters: Ahmedabad
● Founded: 1988
Economists lower FY24 CAD forecasts on record services-trade surplus
● The near-13-year high services trade surplus in February 2024 has prompted economists to scale
down their projections of India’s current account deficit (CAD) for the current financial year.
● Many economists now expect CAD to come in at 0.8-0.9% of the GDP during the entire FY24, as
compared to their previous forecast of 1.1-1.2%.
● India’s overall trade deficit during February was meagre $2billion, lower than $4.2 billion in January.
About CAD
● Current account deficit (or surplus) calculates the difference between the money obtained and sent
from the country on the trade of goods and services as well as the movement of capital from
domestic production factors abroad.
GST compensation cess may end before the March 2026 deadline
● The Goods and Services Tax (GST) compensation cess levied on products such as automobiles,
liquor, cigarettes, aerated water and coal could end earlier than the March 31, 2026 deadline on the
back of robust GST collections every month
● States have been already given “the entire provisionally admissible compensation” amounting to
₹9.14 lakh crore for their revenue shortfalls in the transition period of five years ended June 2022,
but the cess has been continued to retire the loan of ₹2.69 lakh crore that was taken during the
Covid pandemic for this purpose.
● While launching the new indirect tax regime, the GST law assured states of a 14% increase in their
annual revenue for the five years from July 1, 2017 to June 30, 2022.
Net direct tax collections rise 20% at Rs 18.9 trillion till March 17
● The government seems to be within striking distance of meeting the revised estimates (RE) for direct
tax collection this financial year and it has to collect around Rs 55,000 crore in 14 days to meet the
.
projections for 2023-24.

● This is because the government collected Rs 18.9 trillion till March 17, representing a growth rate of
19.88 per cent year-on-year (Y-o-Y).
● Direct tax collection was boosted by a 22.3 per cent Y-o-Y increase in advance tax collection
(including refunds) till March 17 of FY24.
● Collection from advance taxes grew 22.31 per cent at Rs 9.11 trillion till March 17 this financial year
against Rs 7.45 trillion during the corresponding period of the previous financial year.
Net FDI in India down 38% in April 2023– January 2024

● Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-
year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation
of capital.
● According to the Reserve Bank of India’s data in the March 2024 bulletin, FDI in India was $25.53
billion and outflows were $10.11 billion in April 2023-January 2024.
● Around 80 per cent of the equity flows were received from Singapore, Mauritius, the US, the
Netherlands, Japan, and the United Arab Emirates.
● The TEPA aims to attract FDI of $100 billion in India from EFTA over the next 15 years and generate
one million direct employment opportunities.
Credit growth in FY25 may decline by up to 100 bps
● The credit growth is likely to slow down in the next financial year as banks look to go slow on retail
loans in response to the Reserve Bank of India’ (RBI) measures aimed at curbing the expansion of
retail credit.
● The credit growth is expected to decline by 100 basis points (bps) to 15% in FY25.
● The growth, excluding the merger impact of mortgage lender HDFC with HDFC Bank, is expected to
be around 16-16.5% in the current fiscal.
● Credit growth is expected to decline to 15% in the next financial year from 20.5%, which includes
merger impact of HDFC with HDFC Bank, in the current fiscal.
Gross Direct Tax Collection Registered Growth Of 18.74 % during Current Financial Year
● Gross Direct Tax collection has registered a growth of 18.74 percent during the current Financial
Year.
● According to the Finance Ministry, gross direct tax collection stands at over 22 lakh 27 thousand
.
crore rupees which is more than 18 lakh 75 thousand crore rupees reported in the corresponding
financial year 2022-23
● Refunds amounting to three lakh 36 thousand 808 crore rupees have also been issued in the
Financial Year 2023-24 which is 12.74 per cent higher in comparison to the refunds issued during
the same period in the preceding year.
The share of women investors in mutual funds grows to 21% in December 2023
● The shares of assets owned by women investors in mutual funds have increased 21 per cent as
of last December-end against 15 per cent in March 2017.
● According to the Association of Mutual Funds in India data, curated by CRISIL, share of MF
assets owned by women from beyond top-30 cities increased to 28 per cent from 17 per cent and
that of their folios was up to 18 per cent from 15 percent during the same period.
● The report ‘Mutual Growth’ has underscored the significant strides women have made in mutual
funds participation.
FMC India launches precision agriculture platform

● FMC India, an agricultural sciences company and arm of US-based FMC Corporation, has launched
a precision agriculture platform Arc farm intelligence in India.
● By combining real-time data and predictive modelling, Arc farm intelligence assists farmers in
monitoring field conditions and pest pressure.
● Arc farm intelligence, a one-stop solution for farmers, will support them in making informed decisions
based on real-time field insights for more effective and efficient crop care, thus providing them with
enhanced precision, productivity and profitability
● The Arc farm intelligence app will also provide farmers easy access to FMC India’s boom spray
service.
Capping of interest subsidy for exporters to continue in Q1 of new fiscal

● The Centre has notified an interest subsidy cap of ₹2.5 crore for individual export units in the first
quarter of the forthcoming fiscal 2024-25 under the popular interest equalisation scheme (IES) for
identified sectors and MSMEs.
● This is in continuation of its capping policy, introduced this fiscal, to ensure that more units can
benefit from the scheme.
.
● The DGFT issued a notification clarifying that a cap of ₹2.50 crore per IEC is imposed till June 30,
2024, for the quarter starting from April 1, 2024.
India's coal & lignite production surpasses 1-billion-tonne mark
● Coal and lignite production in India crossed 1 billion tonnes in 2023-24, as of March 22, in line with
the government's target for this financial year.
● The output was 6.7% higher year-on-year.
● India is the world's second-largest producer, after China, also surpassed FY23’s coal and lignite
production of 937.22 million tonnes (mt) — twenty-five days in advance.
● Surpassing the 1-billion-tonne mark in coal and lignite production reduces the dependence on
imports.
FPIs Inject Over 38,000 Crore Rupees In Equities In March 2024 So Far Amid Strong Domestic
Macroeconomic Outlook
● Foreign portfolio investors have shown a significant resurgence in their investment activity within the
Indian equity markets this month, injecting over 38,000 crore rupees, mainly driven by favourable
shifts in the global economic scenario and a strong domestic macroeconomic outlook.
● The investment came following a modest investment of 1,539 crore rupees in February, and a
massive outflow of 25,743 crore rupees in January.
● With this, foreign portfolio investors’ (FPIs) investment has turned positive to the tune of 13,893
crore rupees in equities so far in 2024 and 55,480 crore rupees in the debt market.
Direct selling industry grew 12% in 2022-23, crosses Rs 21,000 crore in turnover
● An annual survey report released by the Indian Direct Selling Association (IDSA) India’s direct
selling industry grew over 12% year-on-year in 2022-23, clocking an overall industry turnover of Rs
21,282 crore.
● The report noted that the sector grew 8.3% by CAGR in the four-year period between 2019-20 and
2022-23.
● According to the report, the total sales have increased by ₹2252 crore compared to the year 2021-22
which was partially impacted by the pandemic.
● India has improved its ranking by one step to climb to 11th place in 2022 on the global direct selling
map, up from 15th in 2019.
● Vivek Katoch, Chairperson, IDSA.
.
Amul to sell ‘fresh milk’ for the first time in the United States
● For the first time in its history of milk cooperatives in India, Amul’s brand of “fresh milk” will be sold in
the United States.
● The Gujarat Cooperative Milk Marketing Federation (GCMMF) --- the umbrella body of milk
cooperatives in Gujarat that markets and sells milk under the brand Amul --- has tied up with the
Michigan Milk Producers Association to sell “fresh milk” in the East Coast and Midwest markets of
the US.
● The GCMMF official said the dairy plant of the Michigan Milk Producers Association in Ohio was
strategically placed and Amul could access markets in Chicago, Dallas and other areas on the East
Coast of the US.
● GCMMF is India’s largest exporter of dairy products and has also been accorded a “trading house”
status.
Galaxy Health gets IRDAI approval to launch health insurance business

● Galaxy Health and Allied Insurance Company has secured approval from the IRDAI to commence its
health insurance business in the country.
● This decision came during the 125th meeting of the regulator, marking a significant entry into the
Indian insurance sector.
● With this approval, the count of stand-alone health insurers (SAHIs) in India will rise to seven, adding
to the existing six.
● Galaxy is the second stand-alone health insurer to receive the nod from the IRDAI in 2024.
● This is the sixth registration issued by the authority across various insurance segments within almost
a year.
● Notably, earlier this year, IRDAI granted Narayana Health in-principle approval to establish a health
insurance enterprise in the country.
● Galaxy Health Insurance will have an initial capital of over Rs 200 crore.
● The minimum equity capital requirement to set up a Life, General or Health Insurance Company is
INR 100 crore; b. In the case of a Reinsurance company, the requirement is a minimum of INR 200
crore.
Centre notifies 3-10% hike in MGNREGA wage rates for FY25 ahead of polls
● The new wage rates for unskilled manual workers under the Mahatma Gandhi National Rural
Employment Guarantee Act (MGNREGA), 2005 for the financial year 2024-2025 have been
.
introduced ahead of the Lok Sabha elections 2024.

● These new wage rates will become effective from the upcoming financial year that begins from
April 1, 2024.
● The state of Goa witnessed a maximum hike of 10.56 percent over the current wage rate taking
the wage to ₹356 per day for financial year 2024-2025 against ₹322 per day in the current fiscal
year.
● Meanwhile, Uttar Pradesh and Uttarakhand registered the lowest raise of 3.04 percent each from
existing ₹230 to ₹237 per day.
● The highest rate of NREGS wage is ₹374 per day has been allotted for Haryana, while the lowest
NREGS wage that is ₹234 per day has been fixed for Arunachal Pradesh and Nagaland.
● As per the notification, three other states including Karnataka, Andhra Pradesh and Telangana,
have registered over 10 percent hike in the NREGS wages for the financial year 2024-25.
● The new NREGS wage rate will be ₹349 per day in Karnataka which marks a 10.44 percent
increase than the previous rate of ₹316 per day.
● Considering Andhra Pradesh and Telangana, the new NREGS wage rates will be ₹300 per day,
which marks 10.29 increase from the previous rate which stood at ₹272 per day during the
current financial year.
● Under the NREGS, Madhya Pradesh and Chhattisgarh share the same wage rate, both these
states have seen a 10 percent surge in rates taking existing ₹221 to ₹243 per day.
● Additionally, other states that witnessed a hike of NREGS wage rates below 5 percent include
Haryana, Assam, Manipur, Arunachal Pradesh, Nagaland, Rajasthan, Kerala and Lakshadweep.
● Moreover, the wages witnessed an average increase of about 7 percent from the existing all-
India average wage rate which stood at ₹267.32 per day and is now ₹285.47 per day for the
Government to borrow ₹7.5-lakh crore in April-September (2024-2025)
● The government will borrow ₹7.5-lakh crore between April 1 and September 30, the Finance
Ministry stated.
● The interim Budget has set a target of ₹14.13-lakh crore of gross borrowing during FY25 to
bridge the deficit between expenditure and Income.
● This means 53 per cent of the yearly target is to be borrowed during the first half of the current
fiscal, which is lower than the previous years’ number of 60 per cent or more.
● According to the calendar, first half borrowing through dated securities will include ₹12,000 crore
.
through issuance of Sovereign Green Bonds (SGBs).

● The market borrowing will be spread over 3, 5, 7, 10, 15, 30, 40 and 50-year securities. The
share of borrowing (including SGBs) under different maturities will be: 3-year (4.80 per cent), 5-
year (9.6 per cent), 7-year (8.80 per cent), 10-year (25.60 per cent), 15-year (13.87 per cent), 30-
year (8.93 per cent), 40-year (19.47 per cent) and 50-year (8.93 per cent).
● While long-term borrowing (1 year-50 years) is made through dated securities, there is also
provision of Treasury Bills for short-term borrowing (91 days, 182 days and 364 days).
GST collection in FY 23 set to cross ₹20 lakh-crore

● Goods and Services Tax (GST) collection in the current financial year ending March 31 is
expected to surpass the ₹20 lakh crore mark with an annualised growth of approximately 12%,
two officials aware of the development stated, attributing the increase to heightened economic
activity and ease of compliance-driven by technology.
● Robust collections are also expected for GST cess in the 2023-24 period, with total revenue
under the component likely to be around ₹1.45 lakh crore, the officials added.
● This increases the probability that it could be rolled back sooner than the March 31, 2026
deadline set initially.
● The government extended the GST cess, which is levied on luxury items and so-called sin goods
such as automobiles, liquor, cigarettes, aerated water and coal, up to March 31, 2026 to retire
the ₹2.69 lakh crore debt taken to compensate states for their revenue shortfall during the
pandemic years.
April-February of FY24 fiscal deficit at 86.5% of the revised annual target
● The central government's fiscal deficit in the first 11 months of 2023-24 stood at ₹15 lakh crore,
86.5% of the revised target for this financial year, according to official data released.
● By February-end, the Centre had spent ₹37.47 lakh crore in this fiscal, 83.4% of the revised
expenditure target for the year.
● Experts stated the Centre would comfortably meet the downwardly revised fiscal deficit target for
the fiscal.
● The fiscal deficit in absolute terms was revised down to ₹ 17.35 lakh crore or 5.8% of gross
domestic product (GDP) from the earlier budget estimate of ₹17.87 lakh crore.
● The Centre spent ₹8.05 lakh crore of its revised capex target of ₹9.60 lakh crore by the end of
February, according to data from the Controller General of Accounts.
.
● This was 36.5% higher than the total capex for the corresponding period of the previous fiscal.
Reliance acquires 26% stake in Adani’s power project
● In the first collaboration between rival billionaires, Mukesh Ambani’s Reliance Industries has
picked up a 26 per cent stake in Gautam Adani’s Madhya Pradesh power project and signed a
pact to use the plants’ 500 MW of electricity for captive use.
● Reliance will pick up 5 crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of
Adani Power Ltd, of face value Rs 10 at par (Rs 50 crore) and will use 500 MW of generation
capacity for captive use, the two firms stated in separate stock exchange filings.
● Adani aspires to be the world’s largest renewable energy producer by 2030.
Core sector growth at a 3-month high of 6.7% in February 2024

● Output growth in eight core infrastructure sectors that include electricity, steel, cement and crude
oil, accelerated to a three-month high of 6.7% in February from 4.1% in the previous month,
official data released.
● Sequential improvement was recorded in six out of the eight sectors.
● During February, the growth rate in cement, coal, crude oil, electricity, natural gas and refinery
products was higher than in January 2024.
● Two sectors, fertilisers and steel, witnessed sequential deceleration.
● Three of the eight core industries displayed a double-digit expansion in February 2024, namely,
coal, cement and natural gas.
● These eight core sectors contribute 40.27% to the Index of Industrial Production (IIP).
Tata Motors will be the biggest loser when the FAME-II scheme expires on March 31
● The country’s largest electric vehicle (e-PV) maker, Tata Motors, was the biggest beneficiary of
the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME)
scheme.
● With the expiration of the scheme on March 31, it is set to be the biggest loser.
● Sources stated that the government did not extend the FAME-II scheme because the benefits of
the scheme were not widely spread.
● According to sources, the company has sold around 2,200 electric buses and 15,000 e-PVs (for
fleet services) under the scheme, for which it has got an average of ₹20,000 per kWh for each of
the buses and ₹10,000 on an average for the electric cars on a per kWh basis.
● Under the FAME scheme, the company gets incentives for three of its vehicles, including the Ace
.
EV (small commercial vehicle), EV Bus and XPres-T (fleet cars for aggregators like BluSmart and
Uber).
About FAME-II scheme:
● The FAME-II scheme was launched in 2019 with a budget outlay of ₹10,000 crore, targeting to
support 7,000 e-buses, five-lakh electric three-wheelers, 55,000 electric passenger cars, and 10-
lakh electric two-wheelers.

De Beers' Sachin Jain Named Chief Executive Officer of World Gold Council
• The World Gold Council has appointed Sachin Jain as its new Chief Executive Officer (CEO),
India, who will take up the role in March 2024.
• Jain will succeed Somasundaram PR, who will continue in his present job and duties till Jain joins
to facilitate a smooth transfer.
• Somasundaram will continue to work with the World Gold Council as an advisor on the
establishment of a self-regulatory organisation (SRO), which is a critical project for the Indian gold
sector.
About World Gold Council :
• Founded : 1987
• Headquarters: London, United Kingdom
• President : Kelvin Dushnisky
• CEO: David Tait
• The World Gold Council is the market development organisation for the gold industry.
Paytm Founder and CEO Vijay Shekhar Sharma steps down from Paytm Payments Bank board
• Vijay Shekhar Sharma, Chief Executive Officer (CEO) of Paytm and nominee of One97
Communications Ltd (OCL), has resigned from his positions as part-time non-executive chairman
and board member of Paytm Payments Bank Limited (PPBL).
• His resignation facilitated a transition in the structure and composition of the PPBL board.
About Paytm :
.
Indian-Origin Samir Shah Appointed as BBC's New Chairman

• Dr. Samir Shah, an India-born media executive, has been confirmed as the new BBC chairman
after his selection underwent scrutiny and was approved by King Charles III.
• Responsibilities as Chair: In his role, Shah will be tasked with upholding and protecting the
independence of the BBC's board and ensuring that its decisions are made in the public interest.
• Born in Aurangabad, India, Shah moved to England in 1960.
RBI Approves Appointment of S Ravindran as Part-Time Chairman of Tamilnad Mercantile Bank

• The Reserve Bank of India (RBI) has approved the appointment of S Ravindran as the part-time
chairman of Tuticorin-based Tamilnad Mercantile Bank (TMB).
• This appointment is effective from February 29, 2024, and extends till August 2, 2026.
• Prior to assuming charge as part-time chairman of the bank, he has to step down from
the directorships in Shriram Finance and Bandhan AMC
• The position of non-executive part-time chairman at TMB had been vacant since February 2, 2020,
following the departure of S. Annamalai.
• TMB had previously recommended B. Vijayadurai for the chairman role on August 20, 2022, but
the proposal was not approved by the RBI.
About Tamilnad Mercantile Bank :
• Founded : 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in
November 1962
• Headquarters : Thoothukudi, Tamil Nadu, India
• Tagline : Be a Step ahead of Life
Shehbaz Sharif was sworn in as the 24th Prime Minister of Pakistan
• Shehbaz Sharif, the president of Pakistan Muslim League-Nawaz (PML-N), was elected as the
24th Prime Minister of Pakistan by the National Assembly.
• The session of the National Assembly was chaired by Speaker Sardar Ayaz Sadiq.
• This marks Shehbaz Sharif's second term as Prime Minister, having previously served in the role
from April 2022 to August 2023.
• Consensus Candidate: Shehbaz Sharif, aged 72, was the consensus candidate of both the
Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP).
About Pakistan:
.
• Currency: Rupee
Lubrizol Appoints Bhavana Bindra as Managing Director for India, Middle East, and Africa
• Bhavana Bindra has been appointed as the Managing Director for India, Middle East & Africa
(IMEA) Region by Lubrizol, a major player in the speciality chemicals industry.
• She will be responsible for leading the company’s IMEA team to deliver regional growth for Lubrizol
and its customers based on a local-for-local approach.
About Lubrizol :
• Founded : 1928
• Headquarters : Wickliffe, Ohio, United States
• President & CEO : Rebecca Liebert
• The Lubrizol Corporation is an American provider of specialty chemicals for the transportation,
industrial and consumer markets.
Former Life Insurance Corporation Chief MR Kumar Appointed as Non-Executive Chairman of Bank of
India
• Bank of India (BoI) has announced the appointment of MR Kumar, former chairman of Life
Insurance Corporation (LIC), as its non-executive chairman.
• Alongside MR Kumar's appointment, Bank of India also announced the appointment of Rajiv
Mishra as an executive director.
• Additionally, he served as the chairman of the Council of Insurance Ombudsman.
• MR Kumar served as the chairman of LIC from 2019 to March 2023 before joining BoI.
About Bank of India :
• MD & CEO : Rajneesh Karnatak
• Tagline : Relationship Beyond Banking
Future Generali India Life Insurance Names Alok Rungta as Managing Director and Chief Executive
Officer
.
• Future Generali India Life Insurance announced the appointment of Alok Rungta to the position of
Managing Director (MD) & Chief Executive Officer (CEO) effective 1st April 2024 subject to receipt
of necessary regulatory approvals.
• He takes the reins from Bruce De Broize, who is the MD & CEO until 31st Mar 2024.
• Alok, currently serving as the Deputy CEO and Chief Financial Officer (CFO), brings a wealth of
experience and expertise to his new role.
• Before this, he held executive positions at prominent insurance companies in the Philippines, Hong
Kong and India, highlighting a dedicated career towards leadership.
About Future Generali India Life Insurance :
• Founded : 2007
• Future Generali India Life Insurance was established as a joint venture between Future Group
(74% owner) and Generali Group (26% owner).
Nayab Singh Saini Sworn in as Haryana Chief Minister from Bharatiya Janata Party; 5 Others Take
Oath as Ministers
• Nayab Singh Saini, the Haryana Bharatiya Janata Party (BJP) chief and a prominent Other
Backward Classes (OBC) leader, has been sworn in as the 11th Chief Minister of Haryana
following the resignation of Manohar Lal Khattar.
• The new cabinet includes 5 other Members of the Legislative Assembly (MLAs): Kanwar Pal
Gujjar, Jai Parkash Dalal, Moolchand Sharma, Banwari Lal, and Independent MLA Ranjit Singh.
• The oath-taking ceremony took place at the Raj Bhavan, where Haryana Governor Bandaru
Dattatreya administered the oath to Nayab Singh Saini and the other ministers.
Kishor Makwana Takes Office as Chairman of National Commission for Scheduled Castes
• Shri Kishor Makwana assumed the charge of Chairman of the National Commission for Scheduled
Castes (NCSC) in New Delhi .
• Shri Luv Kush Kumar also assumed the charge of Member of the National Commission for
Scheduled Castes (NCSC).
• Makwana served as a joint spokesperson of the Gujarat unit of the Bharatiya Janta Party (BJP).
Foreign Secretary Vinay Mohan Kwatra Granted 6-Month Extension
.
• The Appointments Committee of the Cabinet (ACC), led by Prime Minister Shri Narendra Modi,
has approved a 6-month extension in the service of Vinay Mohan Kwatra as Foreign Secretary.
• The extension is granted for a period of 6 months beyond April 30, 2024, until October 31, 2024, or
until further orders, whichever is earlier, in public interest, in terms of provisions of FR 56 (d)."
• This is his second extension.
Author & philanthropist Sudha Murty Nominated to Rajya Sabha by President Droupadi Murmu
• Sudha Murty,73, former chairperson of Infosys Foundation and philanthropist, has been nominated
to the Rajya Sabha by President Droupadi Murmu, becoming the 12th nominated member in the
Upper House of Parliament.
• Constitutional Provision: Article 80(3) of the Constitution stipulates that out of the 245 members in
the Rajya Sabha, 12 are nominated by the President based on the government's recommendation.
• Qualifications for Nomination: According to Article 80(3), nominated members should possess
special knowledge or practical experience in fields such as literature.
Ashwani Kumar was Unanimously Elected as the New President of the Federation of Indian Export
Organisations
• Mr. Ashwani Kumar, Partner at Victor Forgings, Jalandhar, has been unanimously elected as the
new President of the Federation of Indian Export Organisations (FIEO).
• He has replaced A Sakthivel.
• Mr Ashwani Kumar is a well known and popular business entrepreneur and exporter from
Jalandhar (Punjab), representing the engineering sector of exports.
• Previous Positions: Prior to his election as President, Mr. Kumar held several key positions in
various renowned organizations across the country. These include:
About FIEO :
• Director General & CEO : Dr. Ajay Sahai
• Federation of Indian Export Organisations (FIEO) is the apex trade promotion organisation in India
set up by the Ministry of Commerce, Government of India, and the private trade and industry
segment in 1965.
• The organisation is responsible for representing and assisting Indian entrepreneurs and exporters
in foreign markets.
.
Shri AS Rajeev appointed as Vigilance Commissioner in the Central Vigilance Commissioner

• Shri AS Rajeev has been appointed as Vigilance Commissioner in the Central Vigilance
Commission (CVC) by the Hon’ble President of India through a warrant dated 9th February 2024,
under the power vested under Section 4 (1) of the Central Vigilance Commission Act, 2003.
• Shri AS Rajeev took the oath as Vigilance Commissioner on 11th March 2024 before the Central
Vigilance Commissioner.
• Shri A S Rajeev is a career banker with over 38 years of experience in four banks, namely,
Syndicate Bank, Indian Bank, Vijaya Bank and Bank of Maharashtra.
Rajendra Prasad Goyal Takes on Additional Responsibility as Chairman and Managing Director of
NHPC
• Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post
of Chairman and Managing Director (CMD) of NHPC Limited, India’s premier hydropower company
and a Schedule ‘A’ Enterprise of Government of India (GoI).
• Goyal joined NHPC on 18th November 1988 as Finance Professional.
• Goyal is also a member of the Executive Board of Standing Conference of Public Enterprises
(SCOPE), New Delhi.
Reserve Bank of India Endorses BK Divakara's Appointment as Whole-Time Director at CSB Bank
• The Reserve Bank of India (RBI) has approved the appointment of BK Divakara as a Whole-Time
Director (Executive Director) of CSB Bank for 3 years.
• Divakara is an Associate Member of the Institute of Chartered Accountants of India, the Institute of
Company Secretaries of India and the Institute of Cost and Management Accounts of India.
About CSB Bank Limited :
• Headquarters : Thrissur, Kerala, India.
• CEO: Pralay Mondal.
SAP appoints Manish Prasad as President, MD for Indian Subcontinent
• Cloud software major SAP announced the appointment of Manish Prasad as President and
Managing Director for SAP Indian Subcontinent.
.
• In his new role, Manish takes over responsibilities from Kulmeet Bawa, who has moved on to
assume a global role for the SAP Business Technology Platform (SAP BTP). Manish brings over
26 years of leadership experience.
• He rejoined the software company in 2021 as the Head of Industries. Previously, he worked with
the company for two years as Head of Consulting and Services - Sales for India, until he stepped
down in 2019 to join Wipro for a third stint as the India Business Head.
ACKO General Insurance names Animesh Das as CEO
• Insurtech unicorn Acko has elevated its chief underwriting officer, Animesh Das, as the new Chief
Executive Officer (CEO) of its subsidiary entity--ACKO General Insurance—as Sanjeev Srinivasan
takes the board role.
• Varun Dua will continue as the CEO of Acko Technologies, the parent company of Acko General
Insurance.
• Srinivasan, the former MD and CEO at Bharti Axa General Insurance, joined the General Atlantic-
backed venture in 2021 as the managing director and CEO of the subsidiary unit.
Asif Ali Zardari of Pakistan Peoples' Party Elected as 14th President of Pakistan; 1st Civilian To Secure
2nd Term
• Asif Ali Zardari, the Co-chairperson of the Pakistan People's Party (PPP), has secured his second
term as Pakistan's 14th President, marking a significant milestone in the nation's history,
particularly in a context marked by past military interventions.
• Zardari's re-election makes him the first civilian president in Pakistan's history to be elected for a
second term, underscoring the evolution of democratic processes in the country.
• The President-elect is scheduled to take the oath of office at the President House, with Chief
Justice of Pakistan Justice Qazi Faez Isa presiding over the ceremony, symbolizing the
constitutional transfer of power.
About Pakistan :
• Prime Minister : Shehbaz Sharif
• Currency: Rupee
LTIMindtree appoints Vipul Chandra as chief financial officer
.
• LTI Mindtree's Chief Financial Officer, Vinit Teredesai, has announced his resignation from the
company effective April 24, 2024.
• The company made this announcement on March 7, citing Teredesai's desire to explore
professional opportunities outside the L&T Group as the reason for his resignation.
• The Board of Directors has appointed Vipul Chandra as the new CFO, effective April 25, 2024.
• Chandra is currently the Head of Treasury at Larsen & Toubro, the parent company.
• Teredesai is a finance professional with 29 years of experience in the technology and
manufacturing sectors.
Leo Puri Appointed as Adviser and Chairman of Apax Partners' India Division
● Private equity firm, Apax Partners LLP has appointed Leo Puri as an Advisor to Apax and
Chairman of Apax India.
● In the newly created role, Leo Puri will advise Apax on the long-term growth strategy of the firm in
the region.
● He will partner with Anurag Sud, head of Apax India, and the India investment team, to provide
mentorship, strategic advice on operational input, and in assessing new investment opportunities.
● Sud will continue to lead and manage day-to-day operations in India, with support from London-
based partner Rohan Haldea.
About Apax Partners LLP :
● Founded : 1972
● Headquarters : London, England
Anita Sudhir Pai and Neeta Mukerji Appointed as Independent Directors at Fino Payments Bank
● Fino Payments Bank has appointed Anita Sudhir Pai and Neeta Mukerji as Additional Directors in
the capacity of Independent Directors on its board.
● With these appointments, the bank's board now comprises 3 women directors.
● Deena Mehta is already serving as an Independent Director on the board.
● The addition of Anita Sudhir Pai and Neeta Mukerji ensures that one-third of the bank's board
consists of women directors, out of a total board strength of 8 members.
● Started operations ; 2017
.
● MD & CEO : Rishi Gupta

● Fino Payments Bank is a wholly-owned subsidiary of Fino Paytech Limited (FPL).
● It is currently the highest profit-generating payments bank.
Election Commissioner Arun Goel Steps Down before Lok Sabha Elections
● Election Commissioner Arun Goel resigned just days before the anticipated announcement of the
schedule for the 2024 Lok Sabha elections.
● President Droupadi Murmu officially accepted Mr Goel's resignation, effective immediately.
● The Election Commission of India, consisting of 3 members, already had a vacant position, and
now, only Chief Election Commissioner Rajiv Kumar remains on the poll panel.
● Arun Goel, a retired bureaucrat and a 1985-batch Indian Administrative Service (IAS) officer of
the Punjab cadre, joined the Election Commission in November 2022.
● Legislation Guiding Appointment : The Chief Election Commissioner and Other Election
Commissioners (Appointment, Conditions of Service and Term of Office) Act, 2023 will be used
to fill the current vacancies in the Election Commission according to its provisions.
● The Election Commission is a permanent and independent body.
● Article 324(2) says appointment of CEC and other ECs shall be subject to provisions of any law
made by the Parliament.
● Now, the Chief Election Commissioner and Other Election Commissioners (Appointment,
Conditions of Service and Term of Office) Act, 2023 guides the appointment of election
commissioners.
● They have tenure of 6 years, or up to the age of 65 years, whichever is earlier.
Former Bureaucrats Gyanesh Kumar and Sukhbir Singh Sandhu Named as Election Commissioners
● In exercise of powers conferred by section 4 of the Chief Election Commissioner and other
Election Commissioners (Appointment, Conditions of Service and Term of Office) Act, 2023 (Act
No. 49 of 2023), the President is pleased to appoint Shri Gyanesh Kumar, Indian Administrative
Service (IAS) (Retd.) and Dr. Sukhbir Singh Sandhu, IAS(Retd.) as Election Commissioners in
the Election Commission of India (ECI).
● The appointments were made to fill vacancies in the Election Commission following the
retirement of Anup Chandra Pandey on February 14 and the resignation of Arun Goel on March
8.
.
● The poll panel is headed by Chief Election Commissioner Rajiv Kumar.

● The Election Commission is expected to announce the schedule for the April- May Lok Sabha
polls on one of these days.
About Election Commission of India (ECI) :

● The ECI is a constitutional body. It was established by the Constitution of India to conduct and
regulate elections in the country.
● Article 324 of the Constitution provides that the power of superintendence, direction, and control
of elections to parliament, state legislatures, the office of the president of India, and the office of
vice-president of India shall be vested in the election commission.
LinkedIn's India Head Ashutosh Gupta Resigns from Position
● Ashutosh Gupta, Country Manager for India & APAC Head of Online Sales for LinkedIn
Marketing Solutions, has decided to leave the company at the end of April 2024 to take a career
break before taking on new roles.
● India is the second-largest market for LinkedIn after the United States, with around 120 million
members in the country.
Madhu Nair Named Chief Executive Officer of Union Asset Management Company
● Union Asset Management Company Private Limited has appointed Madhu Nair as the Chief
Executive Officer (CEO).
● He will replace G Pradeepkumar who tendered his resignation after 14 years of service.
Rashmi Govil Appointed as Indian Oil Corporation's Director of Human Resources

● Rashmi Govil has taken charge as Director (Human Resources) at Indian Oil Corporation Limited
(IndianOil).
● With this elevation, Indian Oil now has 2 women functional directors on its Board.
● Sukla Mistry, Director (Refineries), is another director on the board and has a total of 7 functional
directors.
About Indian Oil Corporation Limited :
.

● Chairman ; Shrikant Madhav Vaidya
● IOCL is an Indian oil and gas company under the ownership of the Ministry of Petroleum and
Natural Gas, Government of India (GoI).
B Sairam Assumes Role of the New Chairman and Managing Director of Northern Coalfields Limited
● B Sairam has been appointed as the new Chairman and Managing Director (CMD) of Northern
Coalfields Limited (NCL), the flagship subsidiary of Coal India Limited based in Singrauli.
● Before he was appointed as CMD of NCL, Sairam served as Director (Technical) at Central
Coalfields Limited in Ranchi.
About Northern Coalfields Limited (NCL) :
● Northern Coalfields Limited operates 10 highly mechanized mines in the Singrauli and
Sonebhadra Districts of Madhya Pradesh (MP) and Uttar Pradesh (UP), respectively.
● The company is targeting over 135 million tonnes of coal production and dispatch in the fiscal
year 2023-24.
Senior bureaucrat Rahul Singh appointed as the new Central Board of Secondary Education Chief
● A 1996-batch Indian Administrative Service (IAS) officer of the Bihar cadre, Rahul Singh has
been appointed chairperson of the Central Board of Secondary Education (CBSE), as part of a
senior-level bureaucratic reshuffle effected by the Centre.
● He will succeed Nidhi Chhibber, who has been named Advisor in the Niti Aayog.
● Currently, Rahul Singh is the Additional Secretary, Department of Personnel and Training
(DoPT).
Other Appointments :
● Nidhi Chhibber will be advisor, NITI Aayog in the rank and pay of Additional Secretary by
temporarily upgrading the post and extending her central deputation tenure by one year beyond
March 24, 2024
● A.P. Das Joshi, a 1994-batch IAS officer of the Assam-Meghalaya cadre, will replace Rahul
Singh as the Additional Secretary in the DoPT.
● Rajeev Kumar Mital, who was serving as Additional Secretary and Financial Advisor in the
Department of Atomic Energy, has been appointed as the Director General of the National
Mission for Clean Ganga under the Ministry of Jal Shakti.
.
● Gyanesh Bharti will assume the role of Additional Secretary in the Ministry of Women and Child
Development.
● Deepak Narain has been appointed as the Additional Secretary and Financial Advisor in the
Ministry of Information and Broadcasting.
About CBSE :
● Headquarters : New Delhi, Delhi, India
● The CBSE is a national level board of education in India for public and private schools, controlled
and managed by the Government of India (GoI).
Double Paralympics Gold Medalist Devendra Jhajharia Elected Unopposed as President of Paralympic
Committee of India
● Two-time Paralympics gold medallist Devendra Jhajharia was elected unopposed as the
Paralympic Committee of India (PCI) president, succeeding another celebrated para-athlete
Deepa Malik whose term ended on 31st January 2024.
● Jayawant Hammanawar, an international coach and referee from Goa, was elected unopposed
as the secretary general.
● R. Chandrashekhar and Satya Prakash Sangwan will be the two vice-presidents.
Former Bureaucrat Navneet Kumar Sehgal Named as the New Chairman of Prasar Bharati
● Breaking a four-year vacancy, the Indian government has appointed Navneet Kumar Sehgal, a
retired bureaucrat, as the new Chairman of Prasar Bharati, the country's public service
broadcaster.
● The Information & Broadcasting Ministry states that Sehgal’s term will last for 3 years or until he
reaches the age of 70, whichever comes earlier.
● The chairperson’s post has been vacant since A Surya Prakash reached the mandatory
retirement age of 70 in February 2020.
About Prasar Bharati :
● Prasar Bharati is India’s largest public broadcasting agency.
● It was established by the Prasar Bharati Act of 1990, which came into effect in 1997.
● Prasar Bharati oversees the operations of Doordarshan, the national television network, and All
.
India Radio, the national public radio broadcaster.
Government Names Sheyphali B Sharan as New Spokesperson Effective April 2024

● According to an order issued by the ministry of information and broadcasting, the government
has appointed a 1990-batch Indian Information Service (IIS) officer, Sheyphali B Sharan as its
new spokesperson.
● Sharan, will take charge as principal director general (PDG) of the Press Information Bureau
(PIB) after incumbent PDG Manish Desai’s tenure ends on 31 March, 2024.
Note :
● Sharan will be the 1st woman officer to head the PIB since the Modi government first came into
power in 2014.
● She is the 5th woman officer to head the PIB after Neelam Kapur, Deepak Sandhu, Shakuntala
Mahawal and N J Krishna.
Other Appointment :
● Maushami Chakraborty has been appointed director general of All India Radio (AIR), the public
news broadcaster.
● Chakraborty, a 1991-batch IIS officer, will take charge in April, replacing Vasudha Gupta.
Governor of Telangana and Lieutenant Governor of Puducherry, Tamilisai Soundararajan, Resigns to

Contest Lok Sabha Polls
● Telangana Governor and Puducherry Lieutenant-Governor Tamilisai Soundararajan resigned
from both posts.
● It has been learnt that the BJP Tamil Nadu leader Soundararajan is likely to contest in the
upcoming Lok Sabha elections.
● She is likely to contest the high-stakes polls from Chennai South constituency in Tamil Nadu.
About Appointment of Governors :
● Constitutional Provision: Article 153 of the Indian Constitution mandates the presence of a
Governor for each state in India.
Appointment Process:
● Article 155 stipulates that the President appoints the Governor of a State through a warrant under
his hand and seal.
● Under Article 156, the Governor holds office at the pleasure of the President, indicating no
.
security of tenure.
● Qualifications and Tenure:Article 157 specifies that only Indian citizens above 35 years of age
are eligible for appointment as Governor.
● Governors are appointed for a term of 5 years, subject to the pleasure of the President.
● Functions:Article 163 states that the Governor is normally aided and advised by the Council of
Ministers in the exercise of his functions, except in matters requiring his discretion.
● Article 164 outlines the process of appointing the Chief Minister and other Ministers, who hold
office at the pleasure of the Governor.
Lupin appoints Christoph Funke as Chief Technical Operations Officer

● Lupin, a global pharmaceutical company, has appointed Christoph Funke to the newly-created
position of Chief Technical Operations Officer.
● Based in Mumbai, he will oversee Lupin's Technical Operations function, which includes
integrating manufacturing, supply chain, and procurement activities.
About Lupin Limited :
● Founded : 1968
● CEO : Vinita D. Gupta
Kotak Mahindra Bank Names Jaideep Hansraj from Kotak Securities as Group President – One Kotak
● Kotak Mahindra Bank announced that the board of directors have approved the appointment of
Jaideep Hansraj, currently Managing Director (MD) of Kotak Securities Limited (KSL), a wholly-
owned subsidiary of the Bank, as Group President - One Kotak.
● The term 'One Kotak' refers to the bank's internal framework aimed at fostering inter-group
synergies and cross-selling opportunities.
● New Role for Jaideep Hansraj: In his new role, Jaideep Hansraj will serve as a Senior
Management Personnel of the bank, indicating a promotion within the organization.
● Shripal Shah, currently the Chief Operating Officer of KSL, will take over as the Managing
Director of KSL, with effect from April 1, 2024 or the date after the receipt of statutory/ regulatory
approvals as required.
Jharkhand Governor C.P. Radhakrishnan Assumes Additional Charge of Telangana and Puducherry
.
● The President of India Smt Droupadi Murmu has appointed C P Radhakrishnan, the current
Governor of Jharkhand, to discharge the duties of the Governor of Telangana and Lieutenant
Governor of Puducherry, in addition to his existing responsibilities, until further arrangements are
made.
● This decision follows the acceptance of the resignation of Dr Tamilisai Soundararajan from the
positions of Governor of Telangana and Lieutenant Governor of Puducherry.
● Radhakrishnan is the 3rd person from Tamil Nadu to occupy the post of governor in Telangana
for a consecutive term, the first one being ESL Narasimhan, who was followed by Tamilisai
Sounderarajan.
Apollo Hospitals appoints Dr. Madhu Sasidhar as President & Chief Executive Officer of the Hospital
Division
● Apollo Hospitals and Enterprises Limited. (AHEL) has re-designated its Chief Strategy Officer
Madhu Sasidhar as President and Chief Executive Officer (CEO) of its hospital division from April
1, 2024.
● This appointment is part of a planned transition that commenced in October 2023.
● Dr. Madhu Sasidhar's appointment comes as K. Hari Prasad, the outgoing President of Apollo
Hospitals, retires from his position on March 31, 2024, after a 27-year career at Apollo.
Responsibilities:
● In his new role, Dr. Madhu will oversee Apollo Hospitals' hospital business.
● He will focus on maintaining the delivery of the best clinical outcomes and enhancing the patient
care and experience, which are hallmarks of Apollo Hospitals.
● Prior to joining Apollo, Dr. Madhu had held various roles at Cleveland Clinic, including President
of Cleveland Clinic Tradition Hospital.
About Apollo Hospitals Enterprise Limited :
● Founder & Chairman : Prathap C. Reddy
Procter & Gamble India Appoints Kumar Venkatasubramanian as new Chief Executive Officer
● Packaged consumer goods maker Procter & Gamble India has appointed Kumar
.
Venkatasubramanian as the company's new chief executive officer, effective 1 May 2024.
● Venkatasubramanian will succeed LV Vaidyanathan, who is leaving the company to pursue other
interests after 28 years of service to P&G, the maker of Ariel, Tide, Whisper, Olay, and Gillette
brands.
About Procter & Gamble :
● Founded : October 31, 1837
● Headquarters : Cincinnati, Ohio, United States
Microsoft Appoints Mustafa Suleyman as Chief of Artificial Intelligence

● Mustafa Suleyman, a prominent figure in the Artificial Intelligence (AI) and technology sphere,
has been appointed to lead a new group at Microsoft, overseeing all consumer AI initiatives,
including the Copilot chatbot.
● The new unit will focus on advancing Copilot and other consumer AI products and research at
the company.
Union Minister Kiren Rijiju Assumes Additional Responsibility as Minister of Food Processing Industries
Following Pashupati Kumar Paras' Resignation from the Union Cabinet
● According to a Rashtrapati Bhavan notification, Union Minister Kiren Rijiju was given additional
charge of the Ministry of Food and Processing Industries following the resignation of Pashupati
Kumar Paras from the Union Council of Ministers.
● The President of India, upon the advice of the Prime Minister, has accepted the resignation of
Pashupati Kumar Paras from the Union Council of Ministers under clause (2) of Article 75 of the
Constitution.
● President Droupadi Murmu assigned Kiren Rijiju to the Ministry of Food Processing Industries, in
addition to his current portfolio at the Ministry of Earth Sciences.
SoftBank India Promotes Sarthak Misra to Partner Position

● SoftBank India has promoted Sarthak Misra, who previously served as an investment director, to
the position of partner.
● In his new role, Misra will continue to report to Sumer Juneja, who serves as the managing
partner for India & EMEA at SoftBank, overseeing the fund’s operations in India and Europe.
.
Meesho's CXO Harsh Chaudhary Resigns, Joins Flipkart

● E-commerce major Meesho’s CXO of monetisation, Harsh Chaudhary, has quit the firm to join
Flipkart.
● Chaudhary exited the firm after a stint of two years, where he led the advertising and financial
services verticals.
● At Flipkart, Chaudhary is the Vice-President (VP) of Customer where he will lead customer
growth including acquisition and retention of users.
● Chaudhary will also run Flipkart’s video commerce unit.
Indian Sugar & Bio-energy Manufacturers Association Appoints Deepak Ballani as New Director
General
● The Indian Sugar & Bio-energy Manufacturers Association (ISMA) has named Mr. Deepak
Ballani as its new Director General.
● Before joining ISMA, he served as the Director General of The All India Plastics Manufacturers
Association.
● In this role, he was responsible for policy advocacy, government relations management, and
foreign partner management.
About ISMA :
● Founded : 1932
Central Bank of India chief executive M V Rao elected as Chairman of Indian Banks’ Association
● During the IBA’s managing committee meeting, the Indian Banks’ Association (IBA) has elected
M V Rao, Managing Director (MD) and Chief Executive Officer (CEO) of the Central Bank of
India, as its new Chairman for the term 2023-24.
● Rao will replace Atul Goel, MD & CEO of Punjab National Bank
● Dinesh Kumar Khara, Chairman of State Bank of India (SBI), will continue as one of the three
Deputy Chairman of IBA.
● Meanwhile, Indian Bank Managing Director and Chief Executive SL Jain, and City Union Bank
Managing Director and Chief Executive N Kamakodi are elected as the other two deputy
chairmen of the lobby group.
.
● Madhav Nair, Country Head and CEO, Bank of Bahrain and Kuwait, would be Honorary
Secretary of the Association.
About IBA :
● The IBA, formed on (26 September 1946), is an unregistered, voluntary association of like-
minded banks and individuals in India, an representative body of Indian banks and financial
institutions based in Mumbai.
Naveen Jindal Assumes Presidency of the Indian Steel Association

● Naveen Jindal, Chairman of Jindal Steel and Power, has been unanimously elected as the
President of the Indian Steel Association (ISA) by the apex committee, which is the governing
body of the ISA.
● He succeeds Dilip Oommen, CEO of ArcelorMittal Nippon Steel India.
● Role and Responsibilities : As President of the ISA, Naveen Jindal will be responsible for shaping
the policies and strategies for the Indian steel industry.
About ISA :
● ISA serves as the apex body representing the interests of Indian steel producers.
● It plays a crucial role in promoting the growth and development of the steel industry in India and
addressing sector-related challenges.
Nandini Assumes Chairperson Role as New Office Bearers Announced for CII Southern Region 2024-
25
● R Nandini, Managing Director (MD), Chandra Textiles Private Limited, has taken over as the
Chairperson of CII Southern Region for the year 2024-25.
Other Appointment :
● Thomas John Muthoot, Chairman & Managing Director, Muthoot Fincorp Limited, has taken over
as the Deputy Chairman of CII Southern Region for 2024-25.
Nissan Motor India Appoints Saurabh Vatsa as Managing Director

● Nissan Motor India has elevated its Deputy Managing Director (DMD ) Saurabh Vatsa as
Managing Director from April 1, 2024 as the present incumbent Rakesh Srivastava retires on
March 31, 2024.
● Earlier, Mr. Vatsa was appointed as DMD on January 15, 2024.
.
● As Managing Director, Saurabh Vatsa will report to Frank Torres, who serves as the President of
Nissan India Operations and Region Divisional Vice President of Business Transformation
(AMIEO).
About Nissan Motor India :
● Founded : 2005
● Headquarters : Chennai, Tamil Nadu
● Nissan Motor India Pvt Ltd is the Indian subsidiary of Nissan Motor Company of Japan.
Financial Services Institutions Bureau Appoints Girija Subramanian and Bhupesh Sushil Rahul as
Chairman and Managing directors of New India Assurance and United India Insurance
● The Financial Services Institutions Bureau (FSIB), the head-hunting agency for public sector
banks and insurance firms, has selected Girija Subramanian as chairman and managing director
(CMD) of the New India Assurance Company and Bhupesh Sushil Rahul as CMD of United India
Insurance Company.
● The post of CMD at United India Insurance has been vacant since February 2024 following the
retirement of Satyajit Tripathy.
● Neerja Kapur's tenure as CMD of New India Assurance is scheduled to conclude in April 2024.
● Girija Subramanian is currently the CMD of the Agriculture Insurance Company of India, and B S
Rahul serves as the general manager at the same company.
About New India Assurance Company ;
● It is an Indian public sector insurance company owned by the Government of India and
administered by the Ministry of Finance.
About United India Insurance Company :
Simon Harris Poised to Become Ireland's Youngest Prime Minister

● Simon Harris, a prominent figure in Irish politics, has become the sole candidate in the race to
become Ireland’s next prime minister following the unexpected departure of Leo Varadkar.
● At 37 years old, Harris is set to become the youngest prime minister in Ireland’s history.
.
● Harris's candidacy comes at a crucial time for the governing Fine Gael party, which faces the
threat of defeat in the upcoming general elections, with Sinn Fein emerging as a strong
contender for government leadership.
Mariam Mammen Mathew Assumes the Chairmanship of Digital News Publishers Association; Puneet
Gupt Appointed Vice-Chairman
● Mariam Mammen Mathew, Chief Executive Officer (CEO), Manorama Online, has been
appointed chairperson of Digital News Publishers Association (DNPA) for two years from April 1,
2024.
● She would succeed Tanmay Maheshwari, Managing Director, Amar Ujala.
● Puneet Gupt, the Chief Operating Officer (COO) of Times Internet, has been appointed as the
new vice-chairman of DNPA.
● Puneet Jain, the CEO of Digital HT Media, continues in his role as the treasurer of DNPA.
About DNPA :
● DNPA, serving as an umbrella organisation for the digital arms of media companies, has been
proactive in ensuring equality and fairness for all news publishers.
● It represents 18 prominent media organisations, including Dainik Jagran, Dainik Bhaskar, The
Indian Express, and others.
About Manorama Online:
● Manorama Online is the digital arm of Malayala Manorama, one of India's largest and oldest
media houses.
● Malayala Manorama operates in various media formats including print, television, radio, and
digital properties.
Boeing Chief Executive Officer Dave Calhoun to Depart by End of 2024 Amid Safety Crisis
● Embattled aerospace giant Boeing Chief Executive officer (CEO) Dave Calhoun will step down at
the end of 2024.
● Additionally, board chairman Larry Kellner will leave after Boeing's annual meeting in May.
● Stan Deal, the president and CEO of Boeing Commercial Airplanes, has resigned with immediate
effect.
● Steve Mollenkopf, a Boeing director, will replace Larry Kellner as board chairman.
.
● Additionally, Stephanie Pope, Boeing's Chief Operating Officer, will take over Stan Deal's
position as CEO of Boeing Commercial Airplanes.
● Reasons for Changes: The leadership changes come amidst escalating customer frustration with
Calhoun and Deal, particularly following safety incidents such as a fuselage panel blowing out of
an airborne 737 Max in January 2024.
About Boeing :
● Headquarters : Arlington, Virginia, United States
Vinay Kumar Appointed as India's New Ambassador to Russia by Ministry of External Affairs
● Vinay Kumar, a seasoned diplomat who served as India’s envoy in hotspots such as Afghanistan
and Myanmar in recent years, was named as the new ambassador to Russia.
● He will replace Pavan Kapoor, appointed the new secretary (West) in the external affairs ministry,
in Russia.
IIT Alumnus Pavan Davuluri to Assume Leadership Role for Microsoft Windows and Surface
● Microsoft has made a strategic move by reuniting its Windows and Surface teams under a single
leadership, marking a return to a familiar structure within the company's Engineering and Devices
organization.
● This decision comes after a brief separation, during which the Windows team was temporarily
aligned with Microsoft's new AI division.
● Pavan Davuluri, an IIT Madras alumni, was appointed the new head of Microsoft Windows and
Surface, making him the latest Indian to take on a leadership role at a Big Tech company much
like Google's Sundar Pichai and Microsoft's Satya Nadella
● Mr Davuluri takes over from longtime product chief Panos Panay who left the department to join
Amazon last year.
● In his new role, Davuluri will lead a dedicated team that develops silicon systems for Microsoft's
Windows and Surface products.
● Davuluri, who previously oversaw Microsoft's hardware initiatives, will now take on the additional
responsibility of leading Windows engineering.
Senior IPS Officer Sadanand Vasant Date Appointed As Director General Of National Investigation
.
Agency
● 1990-batch Indian Police Service (IPS) officer Sadanand Vasant Date has been appointed as the
Director General of the National Investigation Agency (NIA).
● He is currently serving as Chief of Maharashtra Anti-Terrorism Squad (ATS).
● The Appointments Committee of the Cabinet (ACC) has approved the appointment of Date as
the Director General (DG) of the NIA for a tenure up to his superannuation on December 31,
2026.
● He will succeed Dinkar Gupta, who is due to superannuate on March 31, 2024.
● Rajeev Kumar Sharma, a 1990-batch IPS officer of the Rajasthan cadre, has been named DG of
BPR&D, serving until his superannuation on June 30, 2026, or until further orders.
● Sharma will succeed Balaji Srivastava, who completes his tenure at March end.
● Piyush Anand, a 1991-batch IPS officer of the Uttar Pradesh cadre and currently serving as
Special DG in the Central Industrial Security Force (CISF), has been appointed Director General
of the National Disaster Response Force (NDRF) for a period of 2 years.
● The ACC also appointed S Suresh, a 1995-batch IPS officer of Kerala cadre, as the Additional
Director General of the Special Protection Group (SPG)
About NIA :
● The National Investigation Agency (NIA) is a specialised counter-terrorism law enforcement
agency in India.
● The agency is empowered to deal with the investigation of terror related crimes across states
without special permission from the states under written proclamation from the Ministry of Home
Affairs.
● The agency came into existence with the enactment of the National Investigation Agency Act
2008 by the Parliament of India on 31 December 2008, which was passed after the deadly 26/11
terror attack in Mumbai.
Centre for Policy Research Chief Yamini Aiyar Resigns Amid Foreign Contribution Regulation Act
Investigation
● Two months after the Centre for Policy Research (CPR) received a final order cancelling its
licence under the Foreign Contribution Regulation Act (FCRA), the chief executive of the think-
tank, Yamini Aiyar, will step down from her current role “to devote more time to her research
.
interests”.
● The board also announced the appointment of Srinivas Chokkakula, CPR senior fellow and
Ministry of Jal Shakti Research Chair, as the president and Chief Executive.
● He will step into the role effective April 1, 2024.
About CPR :
● The CPR is one of the country’s premier public policy think-tanks, and has seen its fortunes
reversed since September 2022 when it was subjected to a survey by the Income Tax
Department.
● It is one of the national social science research institutes recognized by the Indian Council of
Social Science Research (ICSSR).
Nidhu Saxena Named Managing Director & Chief Executive Officer of Bank of Maharashtra
● The Ministry of Finance (MoF), appointed Nidhu Saxena as Managing Director and Chief
Executive Officer (MD & CEO) of Bank of Maharashtra (BoM) for 3 years.
● Saxena is currently Executive Director of Union Bank of India, he will be replacing AS Rajeev
upon his selection as Vigilance Commissioner in Central Vigilance Commission, for 3 years.
About BoM :
● Established : 16 September 1935
● Headquarters : Pune, Maharashtra
● Tagline : One Family One Bank
● Bank of Maharashtra is a public sector bank in India.
● The Government of India held 86.46% stake in the bank as of 30 September 2023.
Pankaj Dwivedi Assumes Position of Executive Director at Union Bank of India

● Pankaj Dwivedi has taken charge as an Executive Director (ED) at Union Bank of India (UBI).
● With his appointment, the total number of Executive Directors at UBI has increased to 4.
● Besides Pankaj Dwivedi, the other Executive Directors at UBI are Nitesh Ranjan,
Ramasubramanian S, and Sanjay Rudra.
● Before joining UBI, Dwivedi was General Manager in Punjab & Sind Bank (P&SB).
About Union Bank of India:
.
● Established: 1919
● CEO: A. Manimekhalai
● Tagline: Good People to Bank with
Opposition Leader Bassirou Diomaye Faye Named President-Elect in Senegal Election

● Bassirou Diomaye Faye, the opposition leader in Senegal, is set to become the next President of
the country.
● Faye will become Africa’s youngest elected president.
● It was the fourth democratic transfer of power in Senegal since it gained independence.
About Senegal :
● Senegal got independence from France in 1960.
● Senegal is the westernmost country in continental Africa. Its capital is Dakar.

Zurich Insurance to Acquire 70% Stake in Kotak Arm Immediately in Revised Agreement
• Zurich Insurance Group will buy a 70% stake in Kotak Mahindra Bank's general insurance arm by
paying 55.60 billion rupees (nearly $671 million) upfront instead of staggering the purchase as
planned last year.
• Revised Deal Terms:The original agreement, announced in November of the previous year,
outlined Zurich's acquisition of a 51% stake in the Kotak unit for 40.51 billion rupees.
About Zurich Insurance Group :
• Founded : 1872
• Headquarters : Zürich, Switzerland
• Chairman : Michel Liès
• CEO : Mario Greco
RBI Sanctions Amalgamation of Fincare Small Finance Bank Limited with AU Small Finance Bank
Limited
• The Reserve Bank of India (RBI) has sanctioned the Scheme of Amalgamation of Bangalore,
Karnataka-based Fincare Small Finance Bank Limited. (Transferor Bank) with Jaipur, Rajasthan
headquartered AU Small Finance Bank Ltd. (Transferee Bank).
.
• The Scheme has been sanctioned in exercise of the powers contained in sub-section (4) of Section
44A of the Banking Regulation Act, 1949.
• The effective date of the amalgamation shall be April 01, 2024.
Singapore Competition Authority Grants Conditional Approval for Air India-Vistara Merger
• The Competition and Consumer Commission of Singapore (CCCS) has granted conditional
approval for the proposed merger between Air India and Vistara.
• This approval was a crucial step in the merger process.
• Timing of Approval: The approval comes more than a year after the initial announcement of the
merger deal, highlighting the duration and complexity of the regulatory process involved in such
transactions.
• Deal Structure: Under the terms of the deal, Singapore Airlines will acquire a 25.1% stake in Air
India as part of the merger with Vistara.
About Vistara :
• Founded : 2013 (Commenced Operations : 9 January 2015)
• CEO : Vinod Kannan
• Vistara is a joint venture between Singapore Airlines and Tata Group and is set to merge with Air
India under this agreement.
Competition Commission of India (CCI) Greenlights Ring Plus Aqua Limited's Acquisition of 59.25%
Stake in Maini Precision Products Limited (MPPL)
• The Competition Commission of India (CCI) has approved the transaction inter alia envisaging the
acquisition of 59.25% shareholding in Maini Precision Products Limited (MPPL) by Ring Plus Aqua
Limited (RPAL).
• The proposed combination inter alia envisages the acquisition of 59.25% shareholding in MPPL by
RPAL, the acquisition of the entire shareholding of JK Files & Engineering Limited (JK Files) in JK
Talabot Limited (JKTL) by a wholly owned subsidiary of Raymond Limited (New Company), and
merger of RPAL, MPPL and the engineering business of JK Files into the New Company.
About CCI :
• Established : 14 October 2003
.
• Chairman : Ravneet Kaur

• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Commission of India Clears Merger of Financial Technology Firm, Garagepreneurs Internet
Private. Limited., with North East Small Finance Bank
● The Competition Commission of India (CCI) has approved the merger of a financial technology
company, Garagepreneurs Internet Private Limited (GIPL) with the North East Small Finance
Bank (NESFB).
● The proposed merger involves Garagepreneurs Internet Private Limited (GIPL), which includes
Quadrillion Finance Private Limited (QFPL) and Intergalactory Foundry Private Limited (IFPL),
merging with North East Small Finance Bank Limited (NESFB), which includes RGVN (North-
East) Microfinance Limited (RGVN).
● NESFB is a private sector small finance bank (SFB).
● It is headquartered in Guwahati, Assam and has branches in the North Eastern states (Arunachal
Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Sikkim), and West
Bengal.
About CCI :
● Established : 14 October 2003
● Headquarters : New Delhi
Japan’s SoftBank Group Cuts Stake in Paytm to 2.83% from 5.01%

● Japan's SoftBank Group has further reduced its stake in payments firm Paytm to 2.83% from
5.01%.
● The conglomerate, which held a 17.5% stake in Paytm in September 2022, has trimmed its
.
ownership for more than a year through multiple open market deals, with its most recent cut
being in January.
CCI Greenlights UltraTech Cement Limited's Acquisition of Kesoram Cement Business from Kesoram
Industries Limited
● The Competition Commission of India (CCI) has approved the acquisition of Kesoram Cement
Business from Kesoram Industries Limited by UltraTech Cement Limited.
● The proposed combination involves UltraTech Cement Limited acquiring the grey cement
business of Kesoram Industries Limited.
● This acquisition is facilitated through a composite scheme of arrangement dated November 30,
2023, under Sections 230 to 232 of the Companies Act, 2013 (Scheme), as well as an
Implementation Agreement dated November 30, 2023 (Proposed Combination).
Competition Commission of India Clears Shriram Ownership Trust's Acquisition of Stake in Shriram
Investment Holdings Private Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition of certain
shareholding of Shriram Investment Holdings Private Limited (SIHL) by Shriram Ownership Trust
(SOT).
● SOT intends to acquire a 9.44% stake from APRN Enterprises Private Limited (APRN) and a
20% stake from Piramal Enterprises Limited (PEL) in SIHL.
● This acquisition aims to increase SOT's and Shriram Capital Limited (SCPL) combined holding in
SIHL to 100%.
● SIHL is described as an unregistered core investment company with significant financial figures,
including a standalone asset size of Rs. 3,976 crore and a turnover of Rs. 1,881 crore as of
March 31, 2023.
About CCI :
.
6 Asset Reconstruction Companies Secure 55% of KSK Mahanadi Power's ₹29,330 Crore Debt
● Six asset reconstruction companies (ARCs), including Aditya Birla and Kotak Mahindra-backed
ARCs, have accumulated 55% of KSK Mahanadi Power's ₹29,330-crore debt from lenders in
separate transactions.
● Purpose of Acquisition: The ARCs acquired the debt with the expectation of potential demand for
thermal power companies, anticipating a significant upside.
● This acquisition occurred due to lenders' exit from the company after facing over a four-year
delay in its debt resolution process.
● Prudent ARC's Acquisition: In a recent deal, Prudent ARC acquired ₹156 crore of debt from
Punjab & Sind Bank (PSB) through an unchallenged Swiss auction, amounting to an all-cash
deal of ₹125 crore.
● Prudent ARC already holds ₹914 crore in admitted claims in KSK Mahanadi Power following
previous debt acquisitions.
● ARC Debt Holdings: Aditya Birla ARC holds the largest share of 33.38% in claims from KSK
Mahanadi Power among all ARCs involved.
● This is followed by ASREC (India) Ltd with 11.98%, Prudent ARC with 3.82%, Kotak Mahindra
Bank Phoenix ARC with 2.92%, Rare ARC with 2.10%, and Asset Reconstruction Company of
India (Arcil) with 0.98%.
What are ARCs?
● Asset Reconstruction Companies (ARCs) are specialized financial institutions dedicated to
managing Non-Performing Assets (NPAs) in the banking sector.
● Objective: To acquire and effectively manage distressed assets acquired from banks and
financial institutions.
● Legal Basis: ARCs operate under the legal framework provided by the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
About SARFAESI Act, 2002 :
● The SARFAESI Act,2002 is a crucial piece of legislation designed to empower banks and
financial institutions in India to effectively recover bad loans.
AWARDS AND HONOURS

OLA Electric Technologies Pvt. Ltd. receives the First PLI- Automotive Certificate from ICAT, Manesar.
.
• International Centre for Automotive Technology (ICAT), Manesar, one of the divisions of the
National Automotive Board (NAB)- under the Ministry of Heavy Industries (MHI), Govt. of India has
awarded its first PLI – Automotive Certificate to M/s. Ola Electric Technologies Pvt. Ltd. under the
Production Linked Incentive (PLI) Scheme of MHI for Automobiles and Auto Components.
• The certificate was handed over by Dr. Hanif Qureshi, Additional Secretary - MHI to Dr. S.J.
Dhinagar, Head of Engineering & Sr. VP- Ola Electric, in the presence of Shri Saurabh Dalela,
Director-ICAT & senior officials from MHI, ICAT and M/s. Ola Electric.
Yatin Bhaskar Duggal from Haryana Wins First Prize in National Youth Parliament Festival 2024
• Yatin Bhaskar Duggal from Haryana won the first prize in the National Youth Parliament Festival,
2024, while Vaishna Pitchai from Tamil Nadu won the second prize and Kanishka Sharma from
Rajasthan the third prize.
• Eighty-seven State-level winners assembled in New Delhi for the finals in the Youth Parliament.
• Lok Sabha Speaker Om Birla emphasized the importance of youth in India’s progress towards
becoming a ‘Viksit Bharat’ by 2047, highlighting their thinking capability, innovation, and work ethic.
He stressed India’s role in leading the world.
Oscars 2024: The complete list of winners at the 96th Academy Awards
• The 96th Academy Awards ceremony, which was presented by the Academy of Motion Picture
Arts and Sciences, took place on March 10, 2024, at the Dolby Theatre in Hollywood, Los Angeles.
• During the gala, the AMPAS presented Academy Awards in 23 categories honoring films released
in 2023.
• The following is a complete list of Oscar winners at the 96th Academy Awards
Category Winner
Best Actor CILLIAN MURPHY
(Oppenheimer)
Best Actress EMMA STONE (Poor

Things)
.
Best Director OPPENHEIMER

(Christopher Nolan)
Best Picture OPPENHEIMER

(Emma Thomas,
Charles Roven and
Christopher Nolan,
Producers)
Best Supporting Actor ROBERT DOWNEY

JR. (Oppenheimer)
Best Supporting Actress DA'VINE JOY

RANDOLPH
(The Holdovers)
Best Original Screenplay ANATOMY OF A FALL

(Screenplay - Justine
Triet and Arthur Harari)
Best Animated Short WAR IS OVER!

INSPIRED BY THE
MUSIC OF JOHN &
YOKO
(Dave Mullins and Brad
Booker)
Best Animated Feature THE BOY AND THE

HERON
(Hayao Miyazaki and
Toshio Suzuki)
.
Best Adapted Screenplay AMERICAN FICTION

(Written for the screen
by Cord Jefferson)
Best Documentary Short THE LAST REPAIR

SHOP
(Ben Proudfoot and
Kris Bowers)
Best Documentary 20 DAYS IN

Feature MARIUPOL
(Mstyslav Chernov,
Michelle Mizner and
Raney Aronson-Rath)
Best International THE ZONE OF

Feature INTEREST
(United Kingdom)
Best Original Song WHAT WAS I MADE

FOR?
(from Barbie; Music and
Lyric by Billie Eilish and
Finneas O'Connell)
Best Original Score OPPENHEIMER

(Ludwig Göransson)
Best Cinematography OPPENHEIMER

(Hoyte van Hoytema)
Best Sound THE ZONE OF
.
INTEREST
(Tarn Willers and
Johnnie Burn)
Best Makeup and Hair POOR THINGS

Styling (Nadia Stacey, Mark
Coulier and Josh
Weston)
Best Costume Design POOR THINGS

(Holly Waddington)
Best Visual Effects GODZILLA MINUS

ONE
(Takashi Yamazaki,
Kiyoko Shibuya, Masaki
Takahashi and Tatsuji
Nojima)
Best Film Editing OPPENHEIMER

(Jennifer Lame)
Best Production Design POOR THINGS

(Production Design:
James Price and Shona
Heath; Set Decoration:
Zsuzsa Mihalek)
Best Live Action Short THE WONDERFUL

STORY OF HENRY
SUGAR
(Wes Anderson and
.
Steven Rales)
India Bags 'Measles And Rubella Champion' Global Award For Extraordinary Efforts To Combat
measles and Rubella
• India has been bestowed with the prestigious measles and rubella champion award for its
exemplary efforts in combating these diseases.
• The award was received by Ambassador Sripriya Ranganathan on behalf of the Ministry of Health
and Family Welfare at the American Red Cross Headquarters in Washington.
• The Health Ministry in a statement said, this accolade celebrates the country’s unwavering
commitment to public health and its outstanding leadership in curbing the spread of these
infectious diseases among children.
The Ministry of Tourism held an award ceremony for the 'Design Challenge: Eco-Friendly Cutlery and
Crockery to Replace Single-Use Plastic'.
● The Ministry of Tourism hosted an award ceremony for the winners of the ‘Design Challenge: Eco-
Friendly Cutlery and Crockery to Substitute Single Use Plastic’ along with an exhibition of edible
crockery and cutlery, New Delhi which was chaired by D.G. (Tourism), Ms Manisha Saxena and
graced by the presence of Senior Economic Advisor Mr. Gyan Bhushan, renowned Chef Manjit
Singh Gill, Chef Gunjan Goela and others.
● The Ministry of Tourism, in coordination with the National Council for Hotel Management & Catering
Technology (NCHMCT) organized the ‘Design Challenge: Eco-Friendly Cutlery and Crockery to
Substitute Single Use Plastic’ on a pan India basis.
T M Krishna conferred the Sangita Kalanidhi Award
● Noted Carnatic vocalist and Magsaysay award winner T.M. Krishna has been selected for the
Sangita Kalanidhi award of the Music Academy for 2024.
● The news about the award was conveyed to Mr. Krishna by N. Murali, president, of Music Academy,
when he was performing, with his wife Sangeetha and students, at the memorial of St. Thyagaraja at
Thiruvaiyaru.
● The Sangita Kala Acharya awards will be presented to mridhangam player Parasala Ravi (V.
Raveendran Nair) and vocalist Geetha Raja.
● TTK Awards will go to Thiruvaiyyaru Brothers S. Narasimhan and S. Venkatesan, who are from a
musical lineage that stretches back to Tyagaraja. Another artiste who will get the award is violinist
.
H.K. Narasimhamurthy.
● The Musicologist Award will be given to Dr. Margaret Bastin.
● This year’s Nritya Kalanidhi Award will be presented to Dr. Neena Prasad.
Renowned Poet Prabha Varma Selected For Saraswati Samman For The Year 2023
● Renowned poet Prabha Varma has been selected for the Saraswati Samman for the year 2023 for
his work in the Malayalam language.
● He has been considered for this award for his Malayalam language poetry work, Roudra Sathwikam
and also for his contribution to literature during the period 2013 to 2022.
● Roudra Sathwikam is a poetic work of Prabha Varma in Malayalam language which was published in
2022.
PM Modi Becomes 1st Foreign Head To Be Bestowed With Bhutan’s Highest Civilian Award Order Of
The Druk Gyalpo
● King of Bhutan Jigme Khesar Namgyel Wangchuck conferred Bhutan’s highest civilian award, the
Order of the Druk Gyalpo, on Prime Minister Narendra Modi in Thimpu.
● Prime Minister Modi is the first foreign leader to be given this prestigious award.
● The citation of the Order states that the award recognises Prime Minister Modi’s accomplishments
and leadership, and his contributions to strengthen the bonds of friendship between India and
Bhutan.
● The King of Bhutan had announced the conferment of the award during Bhutan’s 114th National Day
celebrations in December 2021.
Professor Emeritus James Boyce Wins First Global Inequality Research Award
● The World Inequality Lab (WIL) and Sciences Po’s Center for Research on Social Inequalities
(CRIS) have joined forces for the first edition of the Global Inequality Research Award (or GiRA),
which aims to recognize every two years researchers from all disciplines who have made a
significant contribution to the understanding of global inequalities.
● First, the perspective of inequality research is being conducted in all corners of the world.
● Second, the perspective of inequality is a complex phenomenon that requires light from all angles to
be fully understood and ultimately mitigated.
● The 2024 GiRA Prize is jointly awarded to Bina Argawal and James K. Boyce for their
groundbreaking work in the field of social and environmental inequalities.
.
ISRO gets Aviation Week Laureates Award for historic Chandrayaan-3 mission
● The Aviation Week Laureates Award was presented to ISRO for its achievements in the historic
Chandrayaan-3 mission.
● Sripriya Ranganathan, Deputy Ambassador at the Indian Embassy in the US, received the award on
behalf of ISRO.
● The Aviation Week Laureates Award is known for recognizing exceptional achievements within the
aerospace industry.
● With a cost of a modest $75 million, this mission achieved a historic milestone by making a
successful landing at the lunar South Pole.
● Earlier, the Leif Erikson Lunar Prize was given to ISRO from the Husavik Museum for its unwavering
commitment and significant contribution to lunar exploration.
● In another accolade for the space agency, the International Astronomical Union (IAU) working group
for Planetary System Nomenclature has approved the name ‘Station Shiv Shakti’ for the landing site
of Chandrayaan-3’s lander.
About IAU
● The International Astronomical Union (IAU) was founded in 1919. It is the world’s largest
professional body for astronomers.
● In 1982, the United Nations, at its ‘Fourth Conference on the Standardization of Geographical
Names’ held in Geneva, recognised the authority of the IAU on assigning “extraterrestrial names” by
adopting a resolution.
● IAU membership spans 92 countries. Out of those countries, 85 are National Members.
IndiGo awarded ‘Airline of the year’ at Air Transport Awards 2024
● Budget airline IndiGo was named as the ‘Airline of the Year’ at the Air Transport Awards 2024 held
in Greece’s Athens.
● IndiGo recently became India’s first carrier to operate 2,000 daily flights and carry 100 million
passengers in a year.
● The 2024 Air Transport Awards was organised in partnership with Hermes – Air Transport
Organisation and ATN – Air Transport News to recognize the contributions made in the aviation
sector.
● The winners are voted for by both the readers of Air Transport News as well as a jury of international
aviation experts.
.
● Founded in 2005, IndiGo is the largest aviation company in India with respect to market share and
operates a fleet of over 350 aircraft.
● The airline is currently operating around 2000 daily flights and connecting over 85 domestic
destinations and more than 30 international destinations.
Michel Talagrand awarded the 2024 Abel Prize
● The Norwegian Academy of Science and Letters has decided to award the Abel Prize for 2024 to
Michel Talagrand of the French National Center for Scientific Research (CNRS), Paris, France.
● Michel Talagrand is awarded for his work in probability theory and stochastic processes.
● The Abel Prize was modelled after the Nobel Prizes — which do not include mathematics — and
was first awarded in 2003.
● The recipient wins a sum of 7.5 million Norwegian kroner (US$700,000).
About Norwegian Parliament
● The Norwegian Parliament established the prize in 2002.
● It is named after Norwegian mathematician Niels Henrik Abel.
● The Abel Prize is a prestigious award in mathematics that recognizes pioneering scientific
achievements in mathematics.
● It is awarded by the Norwegian Academy of Science and Letters on behalf of the Ministry of
Education of Norway.
CMD/RailTel Conferred with CMD Leadership Award at Governance Now PSU Conference & Awards
2024
● Sanjai Kumar, CMD/RailTel, has been conferred with CMD Leadership Award in the 10th Edition of
Governance Now PSU Conference and Awards.
● This is a prestigious award conferred by Governance Now, a publication of the SAB (Sri Adhikari
Brothers) Group, recognizing outstanding achievements of PSUs and its leaders across a large
spectrum.
● Kumar was conferred with the CMD Leadership Award for his outstanding leadership in
leadingRailTel team towards exceptional performance during the past year.
NLC India Ltd bags GEEF Global Environment Award 2024

● NLC India Ltd (NLCIL) has bagged the GEEF Global Environment Award 2024 in the mining
category during the Global Clean Energy Summit - 2024 held in New Delhi recently.
● According to an NLCIL press note, the summit centred around discussions on facilitating India’s
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transition to clean energy, emphasising affordability, sustainability, and energy Independence.

● NLCIL won the award for its efforts in sustainable development initiatives such as the concurrent
mine reclamation, extensive greenbelt development, implementation of air pollution control
measures to maintain ambient air quality in and around Neyveli, better water quality management
system, and also for its social welfare measures like providing clean water for domestic and irrigation
purposes etc.
Vijay Jain, Managing Director of Star Estate Bags Prestigious Times Power Icon 2024 Award
● In a glittering event honouring top industry leaders, Vijay Jain, Managing Director of Star Estate,
was adjudged the prestigious Times Power Icon 2024 Award.
● The award ceremony, held recently in Noida, was organized by The Times Group.
● The visionary leadership and outstanding achievements of Vijay Jain in the real estate sector
were acknowledged and celebrated on the occasion.
● The event was graced by industry leaders and celebrities, including Cine icon Ada Sharma, who
presented the award to Vijay Jain.
MOUS AND AGREEMENT

C-DOT and Qualcomm ink Memorandum of Understanding to further the Make in India and Atmanirbhar
Bharat initiatives.
• Centre for Development of Telematics (C-DOT), a public funded research institution focused on
telecom technology by the Government of India, at just concluded Mobile World Congress 2024 at
Barcelona in Spain, announced plans to collaborate with Qualcomm Technologies Inc, a subsidiary
of Qualcomm Incorporated, to establish a strategic partnership that will foster innovation in India
and support India based developers and start-ups working on innovative products and use cases.
MoSPI and ISRO Sign an MoU on Bhuvan-Powered Urban Frame Survey
• The NSSO (FOD) under the Ministry of Statistics and Programme Implementation (MoSPI) has
entered into a Memorandum of Understanding (MoU) with the National Remote Sensing Centre
(NRSC) under the Indian Space Research Organization (ISRO) to facilitate Urban Frame Survey
(UFS) in a digital mode using the state-of-the-art Geo ICT tools and techniques using Bhuvan
Platform.
• The MoU was signed by Shri Subash Chandra Malik, Additional Director General, NSSO, MoSPI
and Dr. Srinivasa Rao S, Deputy Director, BGWSA, NRSC in the presence of Dr. Prakash
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Chauhan, Director NRSC, Dr K Vinod Kumar, Associate Director, NRSC and Shri Raushan Kumar
Choudhary, Deputy Director General (UFS).
Government and other parties involved to peacefully settle all of the concerns about the indigenous
people of Tripura.
• A tripartite agreement was signed between the Centre, the State government of Tripura and the
Indigenous Progressive Regional Alliance, popularly known as Tipra Motha and other
stakeholders, in New Delhi.
• Union Home Minister Amit Shah, Tripura Chief Minister Manik Saha, Tipra Motha supremo Pradyot
Debbarma and other senior leaders attended the meeting.
• It was agreed to constitute a Joint Working Group to work out and implement the mutually agreed
points in a time-bound manner to ensure an honourable solution.
Coal India Limited Signs MoU with Indian Institute of Management (IIM) to boost PM’s mission Gati
Shakti
• Coal India Limited (CIL) has entered into a Memorandum of Understanding (MoU) with the Indian
Institute of Management (IIM) Mumbai and IIM Sambalpur.
• The partnership aims to align coal transportation infrastructure with the ambitious PM Gati Shakti
National Master Plan 2021, enhancing multimodal connectivity across the country.
• Under this initiative, a one-year PGP-Ex programme in “Logistics and Operations Excellence
through Digitisation” is to be conducted for the Executives of Coal India, serving in MCL and other
subsidiaries.
An MoU is signed by the MoD with BEML Limited, BEL, and MIDHANI for the development of advanced
fuelling and control systems for engines intended for heavy-duty uses domestically.
• The Ministry of Defence has signed a tripartite Memorandum of Understanding (MoU) with BEML
Limited, Bharat Electronics Limited (BEL) and Mishra Dhatu Nigam Limited (MIDHANI) for the
indigenous development of Advanced Fuelling and Control System for Engines for heavy duty
applications.
• The MoU was inked with Chairman & Managing Director, BEML Limited Shri Shantanu Roy; CMD,
MIDHANI Dr SK Jha; and CMD, BEL Shri Bhanu Prakash Srivastava, in the presence of Defence
Secretary Shri Giridhar Aramane in New Delhi on March 04, 2024.
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• This collaborative initiative will focus on leveraging indigenous capabilities to design, test, and
manufacture an Advanced Fuelling and Control System that offers enhanced efficiency,
performance, and reliability.
Gujarat Urja Vikas Nigam Limited (GUVNL) and NLC India Green Energy Limited (NIGEL) sign a power
purchase agreement for a 600 MW solar power project.
• NLC India Limited (NLCIL) has incorporated a wholly owned subsidiary NLC India Green Energy
Limited (NIGEL) to carry out future Renewable Energy Projects.
• The subsidiary will focus specifically on Renewable Energy projects and thus leveraging the
expertise to its benefits.
• The Power Purchase Agreement was signed by the Chief Executive Officer of NIGEL in the
presence of Chairman, NIGEL Director and CFO, NIGEL with GM (Renewables), GUNVL at
Vadodara.
• NLCIL has won 600 MW Solar Power Project tender in the GSECL Khavda Solar Park, floated by
GUVNL through competitive bidding process.
Ministry of Jal Shakti Signs Agreement with Indian Institute of Science, Bangalore for Establishment of
International Centre of Excellence for Dams (ICED)
• As part of the holistic effort of Government of India to equip national institutions of eminence to
develop capability and expertise at par with global institutions and empower 'Make in India' in dam
safety, Central Water Commission (CWC), Department of Water Resources, River Development &
Ganga Rejuvenation, Ministry of Jal Shakti has signed a Memorandum of Agreement (MoA) with
Indian Institute of Science (IISc) Bangalore for Establishment of an International Centre of
Excellence for Dams (ICED) under externally supported Dam Rehabilitation and Improvement
Project (DRIP) Phase II and III.
• This MoA will remain valid for ten years or till the duration of the DRIP Phase-II and III Scheme,
whichever is earlier, from the date of signing this MoA
India, and Indonesia's central banks sign agreement to promote use of local currencies for bilateral
transactions
• The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of
Understanding (MoU) for establishing a framework to promote the use of local currencies -- the
Indian Rupee (INR) and the Indonesian Rupiah (IDR) for cross-border transactions.
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• The MoU was signed by the Governor, of the Reserve Bank of India, Shaktikanta Das and the
Governor, of Bank Indonesia, Perry Warjiyo.
• The MoU on establishing a framework for cooperation in the area of cross-border transactions in
local currencies between India and Indonesia aims to promote the use of INR and IDR bilaterally.
CSIR-Indian Institute of Petroleum signs MoU with UCOST to deploy the Pine Needles-based fuel-
making technology in Champawat
• Shri Pushkar Singh Dhami, an MoU was signed between CSIR Indian Institute of Petroleum,
Dehradun and UCOST under the aegis of the "Adarsh Champawat" mission.
• Dr Harendra Singh Bisht, Director of the Indian Institute of Petroleum and Professor Durgesh Pant,
Director General of UCOST, signed the MoU documents and inaugurated a historic project on
deploying the technology of making fuel from Pine Needles in Champawat.
Centre inks MoU to support individuals with speech-hearing disabilities

• The Department of Empowerment of Persons with Disabilities (DEPwD) has signed a
Memorandum of Understanding (MoU) with SignAble Communications.
• The MoU signifies a significant step forward in improving support for individuals with speech and
hearing disabilities.
• The MoU aims to enhance communication and accessibility for visually and hearing-impaired
Divyangjan.
• Presently, various departmental organizations utilize different helpline numbers, making it crucial to
establish a centrally maintained, user-friendly Short Code Helpline Number.
• The National Level Helpline for Divyangjan, Short Code-14456, launched on Jan 8, 2024, at the
International Purple Fest, Goa.
Department of Empowerment of Persons with Disabilities signs MoU with Electronics Sector Skills
Council of India for Skilling of PwDs
• In a pivotal move towards enhancing the empowerment and skill development of Persons with
Disabilities (PwDs), the Department of Empowerment of Persons with Disabilities (DEPwD) has
inked a Memorandum of Understanding (MoU) with the Electronics Sector Skills Council of India
(ESSCI).
• The MoU, spearheaded by Shri Rajesh Aggarwal, was formalized to equip PwDs with the
necessary skills for various job roles within the electronics sector.
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• This landmark MoU signifies a collaborative effort to cultivate human resources through vocational
training aligned with industry demands.
NHAI signs MoU with HLL Life Care for incident management system
• To provide immediate assistance to accident victims and strengthen the Incident Management
System (IMS) on the National Highways, NHAI has signed a Memorandum of Understanding
(MoU) with HLL Lifecare Limited, a Public Sector Undertaking under the Ministry of Health &
Family Welfare (MoH&FW).
• The MoU was signed in the presence of NHAI Chairman, Shri Santosh Kumar Yadav, and Shri
Kuruvilla P.C., Associate Vice President & Business Head, HLL Lifecare Limited, along with other
senior officials from NHAI and HLL Lifecare Ltd.
• The MoU will help NHAI to strengthen its existing Incident Management System, which includes
Ambulances, Route Patrol Vans & Cranes, real-time tracking, and supportive supervision.
NPCI ties up with Nepal’s Fonepay for cross-border merchant payments
• NPCI International Payments (NIPL), the international arm of the National Payments Corporation of
India (NPCI) has agreed with Nepal-based payment network Fonepay Payment Service, for cross-
border UPI transactions between India and Nepal.
• The arrangement will facilitate QR-code-based, person-to-merchant (P2M) UPI transactions
between the two countries.
• In the first phase, Indian consumers will be able to make instant, secure and convenient UPI
payments across various business stores in Nepal to merchants on the Fonepay Network.
Coal India signs agreement with Australian firms to mine critical minerals
• Coal India Limited (CIL), the world's largest coal-producing company, has inked two Non-
Disclosure Agreements (NDAs) with entities in New South Wales (NSW), Australia, indicating
advanced discussions.
• Additionally, CIL is exploring mining opportunities for critical minerals on a global scale, with
Argentina among the key countries under consideration.
• The initiative aligns with India's goals set at COP28, emphasizing the reduction of carbon
emissions through the adoption of clean energy.
About CIL
• Coal India Limited is an Indian central public sector undertaking under the ownership of the
Ministry of Coal, Government of India.
• It is headquartered at Kolkata.
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• CEO: Pramod Agrawal

Defence Ministry signs ₹200 crore contract for anti-drone systems under iDEX initiative
• The Ministry of Defence has signed a ₹200 crore contract for anti-drone systems for the Indian
Army and Indian Air Force (IAF) with Big Bang Boom Solutions Private Limited (BBBS).
• This is the largest contract signed by the MoD under the Innovations for Defence Excellence
(iDEX) initiative, according to the company.
• The focus of the iDEX programme is to foster an ecosystem of innovation and technology
development in defence.
• It is our constant endeavour to engage with young innovators who can bring technologically
advanced solutions for modernising the Indian military.
India and Dominican Republic establish first bilateral institutional mechanism for trade and commerce
• The protocol for establishment of the Joint Economic and Trade Committee (JETCO) between
India and Dominican Republic was signed at the Ministry of Foreign Affairs (MIREX) of Dominican
Republic at Santo Domingo.
• The protocol was signed by H.E. Mr. Roberto Álvarez, Minister of Foreign Affairs of Dominican
Republic and Mr. Ramu Abbagani, Ambassador of India to the Dominican Republic on behalf of
the Department of Commerce.
• The Union Cabinet had approved the proposal for signing of the said protocol for establishment of
JETCO on January 24, 2024.
The Ministry of Heavy Industries has recently signed a memorandum of understanding (MOU) with the
Indian Institute of Technology, Roorkee.
• The Ministry of Heavy Industries (MHI) and the Indian Institute of Technology, Roorkee (IIT
Roorkee) signed a Memorandum of understanding (MoU) to work together to encourage
innovation and advance the automotive and electric vehicle (EV) sector.
• This MoU was signed in the presence of Dr Mahendra Nath Pandey, Minister of Heavy Industries,
Shri Pushkar Singh Dhami, Chief Minister of the State of Uttarakhand (through VC) and senior
officials of the Ministry of Heavy Industries and the State of Uttarakhand.
India and ADB sign $23 million loan deal to boost fintech
● The Government of India and the Asian Development Bank (ADB) signed a $23 million loan
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agreement to enhance access to quality fintech education, research, and innovation at the Gujarat
International Finance Tec-City (GIFT-City).
● The signatories to the loan agreement for Promoting Research and Innovation through Development
of Fintech Institute at GIFT-City Project were Ms Juhi Mukherjee, Joint Secretary, Department of
Economic Affairs, Ministry of Finance, for the Government of India, and Mr Rajesh Vasudevan,
Officer-in-Charge of ADB’s India Resident Mission, for ADB.
● GIFT City is an initiative of the Government of India and the State Government of Gujarat to foster
India’s financial services and fintech ecosystem.
● After signing the loan agreement, this project will establish an International Fintech Institute (IFI) to
strengthen fintech education, boost start-up success rates, and drive fintech research and
innovation.
India and Singapore have signed a Memorandum of Understanding to cooperate in the area of Law &
Dispute Resolution
● India and Singapore have signed a Memorandum of Understanding (MoU) on cooperation between
the two countries in the sphere of Law & Dispute Resolution.
● The Memorandum of Understanding was signed in a virtual meeting of the Minister of State for Law
and Justice (I/C), Government of India, Shri Arjun Ram Meghwal for the Indian side and the Minister
for Culture, Community and Youth and Second Minister for Law, Government of Singapore, Mr.
Edwin Tong for the Singapore side.
● The Memorandum of Understanding is on further cooperation between the two countries in the areas
of common interest such as international commercial dispute resolution; matters relating to the
promotion of robust alternative dispute resolution mechanisms in respective countries and the
establishment of a Joint Consultative Committee to oversee the implementation of the Memorandum
of Understanding.
A memorandum of understanding (MoU) has been signed between the Directorate General of Foreign
Trade (DGFT) and DHL.
● The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government
of India, has been actively engaging in boosting e-commerce exports from the country, leveraging its
‘District as Export Hub’ initiative.
● The goal is to promote and enable micro, small and medium enterprises (MSMEs) to explore the
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international markets through e-commerce channels.

● DGFT has been collaborating with various e-commerce platforms and other service providers to
handhold and do capacity building and training sessions in the identified districts under the districts
as export hubs initiative.
● DGFT partnered with the global logistics service provider, DHL, through the signing of a
Memorandum of Understanding (MoU) which will cover 76 districts in three phases, to conduct
capacity-building sessions, training, and workshops for making Indian MSMEs export-ready.
● DGFT has signed MoUs with Amazon India and Shiprocket covering 20 and 16 districts respectively.
The Department of Empowerment of Persons with Disabilities (DEPwD) and the Council of Architecture
have joined forces to improve accessibility for people with disabilities.
● The Department of Empowerment of Persons with Disabilities (DEPwD) is pleased to announce a
groundbreaking collaboration with the Council of Architecture (COA) aimed at promoting inclusivity
and accessibility for Persons with Disabilities (PwDs) in public spaces and buildings.
● The Memorandum of Understanding (MOU) signed between DEPwD and COA signifies a joint
commitment to conduct workshops, seminars, and training programs.
● As part of this partnership, COA and DEPwD recently concluded a certified Training of Master
Trainers on Universal Accessibility.
● The primary objective of this training program is to empower architects, academicians etc to serve
as access auditors in the built environment.
● The Training of Master Trainers on Universal Accessibility was conducted in two phases.
● Phase-I took place online in September 2023, while Phase-II concluded on March 11th and 12th,
2024.
RECPDCL and BHEL have joined hands to collaborate on developing utility-scale renewable energy
projects.
● REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC
Limited, has signed an MoU with Bharat Heavy Electrical Limited (BHEL), for joint development of
utility-scale Renewable Energy Projects across the country.
● The MoU thus aims to contribute to the clean energy targets of the nation, through a dedicated
Special Purpose Vehicle (SPV).
● The SPV will benefit from the core engineering expertise of BHEL and the infrastructure investment
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expertise of REC Limited.
MoRD, GoI signs MoU with Bharat Financial Inclusion Ltd to synergize livelihood intervention in the
livestock sector.
● The Ministry of Rural Development, Government of India has signed a Non-Financial Memorandum
of Understanding (MoU) with the Bharat Financial Inclusion Limited (BFIL) to support the livelihood
intervention of DAY-NRLM by syncing their activities in livestock and fisheries development.
● The MoU was signed by Additional Secretary, Ministry of Rural Development Shri Charanjit Singh
and Executive Vice Chairman Shri J Sridharan at New Delhi.
● As part of the MoU, in the initial phase a centralized Project Monitoring Unit (PMU) will be
established to support DAY-NRLM at the national level and State PMU in Maharashtra, Madhya
Pradesh, Jharkhand, Uttar Pradesh, Rajasthan, Tamil Nadu and Bihar will be developed.
Ministry of Rural Development signs a MoU with J-PAL South Asia to provide technical assistance in
the implementation of inclusive development under DAY NRLM
● The Ministry of Rural Development, Government of India signed an MoU with Abdul Latif Jameel
Poverty Action Lab (J-PAL), South Asia at IFMR. J-PAL, SA@ IFMR will act as a knowledge partner
on inclusive development to put rural poor women on the path to self-sufficiency.
● The MoU was signed by Additional Secretary, Ministry of Rural Development Shri Charanjit Singh
and Executive Director, J-PAL South Asia Ms. Shobhini Mukerji.
● The inclusive development strategy will adapt BRAC’s Graduation Approach, a comprehensive
livelihoods programme that randomised evaluations by researchers affiliated with J-PAL and
Innovations for Poverty Action have found to be effective in lifting vulnerable households out of
poverty.
MoD signs contract worth over Rs. 2,890 cr with HAL for Mid Life Upgrade of 25 Dornier Aircraft of
Indian Navy
● The Ministry of Defence signed a contract with Hindustan Aeronautics Limited (HAL) for Mid Life
Upgrade (MLU) of 25 Dornier Aircraft along with associated equipment for the Indian Navy at a cost
of Rs.2,890 cr.
● The MLU for Dornier Aircraft includes an upgrade to incorporate state-of-the art Avionics Systems
and Primary Role sensors.
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● The upgrade would significantly enhance the operational capability of the Dornier aircraft of the
Indian Navy to perform Primary Roles of Maritime Surveillance, Coastal Surveillance, Electronic
Intelligence and the development of Maritime Domain Awareness.
● In addition, this upgrade will also enable Indian Navy Dorniers to carry out Secondary Roles of
Search and Rescue, Medical/Casualty Evacuation and Communication Link.
Multi Commodity Exchange (MCX) and Jakarta Futures Exchange (JFX) ink an MoU for knowledge
sharing and regional development
● Multi Commodity Exchange and the Jakarta Futures Exchange, the largest commodity exchange in
Indonesia, have entered into a memorandum of understanding to enhance collaboration in key
areas, including knowledge sharing, research, education, training, awareness creation, and other
market development initiatives
About MCX
● Multi Commodity Exchange of India Ltd is a commodity exchange based in India.
● It was established in 2003 by the Government of India and is currently based in Mumbai.
● CEO: P.S. Reddy.
● Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic
exchange.
Reliance signs partnership with Sri Lanka-based beverage maker Elephant House
● Reliance Industries Ltd’s Reliance Consumer Products has partnered with Sri Lanka’s Elephant
House to make and sell beverages under the Elephant House brand in India.
● This will add to the portfolio of beverage brands under Reliance Consumer including Campa Cola,
Sosyo and Raskik.
● Elephant House is owned by Ceylon Cold Stores PLC, a subsidiary of John Keells Holdings, Sri
Lanka’s largest listed conglomerate.
NCW & Railway Protection Force Sign MoU In New Delhi To Prevent & Combat Human Trafficking
● The National Commission for Women (NCW) and the Railway Protection Force have signed an MoU
in New Delhi to prevent and combat human trafficking.
● Chairperson of NCW Rekha Sharma informed that Railway Protection Force personnel deployed at
Railway stations are playing a crucial role in the crime against women and children.
● 70 percent of cases of human trafficking are related to women and Girl children.
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● The Director General of the Railway Protection Force, RPF Manoj Yadava said, the overall objective
of this MoU is to provide a safe and secure travel experience to women.
NCC & NPCIL ink MoU to raise awareness on the peaceful use of nuclear power through various
programmes pan India
● National Cadet Corps (NCC) and Nuclear Power Corporation of India Limited (NPCIL) signed a
Memorandum of Understanding (MoU) in New Delhi to conduct various awareness programmes
throughout the country to enhance public perceptions on the peaceful use of nuclear power and
disseminate scientific & authentic information.
● The MoU was signed between DG NCC Lt Gen Gurbirpal Singh and Executive Director (Corporate
Communication & Corporate Planning), NPCIL Shri BVS Shekhar.
● The NPCIL will be providing resource persons in this initiative for field engagements with the NCC
during the camps and various activities by educating the cadets.
MoU signed between the Indian Council of Agricultural Research and Dhanuka Agritech Limited
● The Indian Council of Agricultural Research (ICAR) and Dhanuka Agritech Limited have signed a
Memorandum of Understanding (MoU).
● Deputy Director General (Agricultural Extension), ICAR Dr. U.S. Gautam and Chairman, Dhanuka
Agritech Limited Dr. R.G. Aggarwal signed this MoU on behalf of respective organizations.
● This MoU aims to promote natural farming in the changing environment.
● The objective of this agreement is to utilize the efficiency of both institutions to deliver new
technology to the farmers.
India And Bhutan Exchanged Several MoUs To Strengthen Partnership
● India and Bhutan exchanged several agreements of mutual interest to further strengthen their
partnership.
● The documents were exchanged between India and Bhutan in the presence of Prime Minister
Narendra Modi and Prime Minister of Bhutan Tshering Tobgay in Thimphu.
● Prime Minister Narendra Modi’s visit to Bhutan will boost bilateral relationship by focusing on
developmental partnership.
CBI, Europol Sign Working Arrangement To Establish Cooperative Relations
● The Central Bureau of Investigation (CBI) and European Union Agency for Law Enforcement
Cooperation (Europol) signed a Working Arrangement for establishing cooperative relations between
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the law enforcement authorities of these two organisations.

● The Working Arrangement was signed by CBI Director Praveen Sood and Executive Director of
Europol, Catherine De Bolle.
● The signing was concluded in a virtual event held simultaneously in New Delhi and the Hague in
presence of senior CBI and Europol officials
India, UK aim to sign free-trade agreement by July

● New Delhi and London are aiming at signing the free-trade agreement (FTA) by July, leading to
Indian exporters of labour-intensive products such as textiles, machinery, automobile parts, and
marine products getting greater market access.
● Signing a trade deal with the United Kingdom (UK) would be one of the main priorities of India’s
National Democratic Alliance-led government, which is now eyeing a third consecutive term.
CBI, Europol sign Working Arrangement for cooperative relations

● The Central Bureau of Investigation (CBI) and the European Union Agency for Law Enforcement
Cooperation (Europol) signed a Working Arrangement for establishing cooperative relations between
the law enforcement authorities of these two organisations.
● The Working Arrangement was signed by CBI Director Praveen Sood and Executive Director of
Europol, Catherine De Bolle.
● This arrangement promotes direct cooperation between both organizations to build on their
respective mandates, and strategies and to explore the potential for synergies.
About Europol
● Europol is the law enforcement agency of the European Union.
● It was established in 1998.
● It is based in The Hague, Netherlands.
Airtel Payments Bank joins Noise, and Mastercard to launch smartwatch
● Airtel Payments Bank collaborated with smartwatch brand Noise and global technology company
Mastercard to launch the new smartwatch to redefine and make contactless payments accessible to
a larger consumer base.
● Users can purchase the new smartwatch at Rs 2,999.
● Customers who have a savings account with Airtel Payments Bank can buy this watch from the
company's Thanks app.
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CAG signs MoU with IIT Delhi on Artificial Intelligence

● The Comptroller and Auditor General (CAG) of India signed a Memorandum of Understanding (MoU)
with Indian Institute of Technology (IIT) Delhi on Artificial Intelligence.
● The MoU was signed and exchanged between Additional Deputy CAG A. M. Bajaj and IIT Delhi
Director, Prof. Rangan Banerjee, in the presence of CAG Girish Chandra Murmu.
● The Government of India had unveiled the national strategy for AI in 2018.
● It aims to encourage innovation, skilling of the workforce, and promotion of responsible AI adoption.
Tejas Networks announces strategic partnership with Telecom Egypt

● Tejas Networks Ltd. announced that it signed a Memorandum of Understanding with Telecom Egypt
(TE), ITIDA (Information Technology Industry Development Agency), and National Telecom Institute
to replicate the Bharatnet (Rural Broadband Project) and NKN (National Knowledge Network)
projects in Egypt.
● The agreement aims to accelerate the vision of Digital Egypt, upskill Egyptian engineers and
technicians, establish local manufacturing and R&D facilities, and set up technical support services
in Egypt.
RPF and NCW signed MoU to combat human trafficking

● The National Commission for Women (NCW) and the Railway Protection Force came together to
announce a landmark Memorandum of Understanding (MoU) aimed at strengthening efforts to
combat human trafficking across India.
● The MOU was signed by NCW Joint Secretary A Asholi Chalai and RPF Inspector General
Sarvapriya Mayank.
● It underscores the commitment of both organizations to tackle the grave issue of human trafficking,
especially within the extensive network of Indian Railways.
● The initiative comes as a response to the alarming statistics revealing that 70% of trafficked victims
are women, highlighting the urgent need for concerted action to protect the most vulnerable in
society.
About NCW
● NCW, which established an Anti-Human Trafficking Cell on April 2, 2022, has already been working
with the Central Industrial Security Force (CISF) to combat the trafficking of women.
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● Rekha Sharma is the chairperson of the National Commission for Women. Its headquarters is
located in New Delhi.
MoU signed between Indian Council of Agricultural Research and Dhanuka Agritech Limited
● A Memorandum of Understanding (MoU) was signed between the Indian Council of Agricultural
Research (ICAR) and Dhanuka Agritech Limited.
● Dr. U.S. Gautam, Deputy Director General (Agricultural Extension), ICAR and Dr. R.G. Aggarwal,
Chairman, Dhanuka Agritech Limited signed this MoU for respective organizations.
● The objective of this agreement is to utilize the efficiency of both the institutions to deliver new
technology to the farmers.
● Dhanuka Agritech will provide training related to agricultural production to these small farmers by
associating with the central institutes, ATARIs and KVKs.
● This MoU aims to promote natural farming in the changing environment.
NCC, NPCIL ink deal to raise awareness on peaceful use of nuclear power
● The National Cadet Corps (NCC) joined hands with Nuclear Power Corporation of India Limited
(NPCIL) to conduct awareness programmes across the country to enhance public perceptions on
the peaceful use of nuclear power and disseminate scientific information.
● The memorandum of understanding between NCC and NPCIL, a public sector undertaking, also
facilitates a unique opportunity for cadets to visit various facilities of NPCIL, thereby giving a
"first-hand experience" on peaceful use of nuclear energy, its technical and technological
aspects.
● The MoU was signed in New Delhi in presence of Director General of the NCC, Lt Gen Gurbirpal
Singh and Executive Director (Corporate Communication & Corporate Planning), NPCIL, BVS
Shekhar, the defence ministry stated in a statement.

Union Minister Rajeev Chandrasekhar Unveils 'Investor Information and Analytics Platform' Established
by IIT Madras
• Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship Rajeev
Chandrasekhar inaugurated the ‘Investor Information and Analytics Platform’ developed by the
Indian Institute of Technology (IIT) Madras.
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• IIT Madras collaborated with YNOS Venture Engine, an incubatee startup of IIT Madras, in
developing the platform.
• The platform serves as a comprehensive resource for startups, providing access to venture
capitalists (VCs), investors networks, government schemes, and various components of the startup
ecosystem.
India Introduces 1st Septic Tank Cleaning Robot to Bolster Swachh Bharat Campaign
• India's first septic tank/manhole cleaning robot, offering an end-to-end solution to eliminate manual
scavenging, is strengthening the swachhata abhiyan in different corners of the country.
• The technology called Homosep Atom developed by the startup incubated in the
Department of Science and Technology (DST)-Technology Business Incubator (TBI) of IIT Madras,
solves manual cleaning methods and transforms it to robotic cleaning methods.
Google DeepMind Unveils Genie: AI Model Generates Interactive Video Games from Text or Image
Prompts
• Google DeepMind has unveiled Genie, a new Artificial Intelligence (AI) model capable of
generating interactive video games solely from a text or image prompt.
• Genie serves as a foundation world model trained on videos sourced from the Internet.
• The model can “generate an endless variety of playable (action-controllable) worlds from synthetic
images, photographs, and even sketches.”
About Google :
• Founded : September 4, 1998
• Headquarters : California, United States
Newly Identified Moons: Discovery of Three Previously Unseen Moons Orbiting Neptune and Uranus
• Astronomers have made a remarkable discovery in our solar system, identifying three previously
unknown moons.
• Two of these newly found moons are orbiting Neptune, while the other is encircling Uranus.
• Revelation by International Astronomical Union (IAU) : The International Astronomical Union’s
Minor Planet Center revealed the discovery, adding to humanity’s understanding of our cosmic
neighbourhood.
Prime Minister Narendra Modi Announces India's Own Space Station by 2035
.
• Prime Minister Shri Narendra Modi unveiled India's ambitious plans to launch its own space station
by 2035 during his visit to the Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram,
Kerala.
• Progress in Space Technology:PM Modi highlighted India's advancements in space
technology, emphasizing the significant increase in satellite launches over the past decade.
• Seed of Scientific Temperament:Addressing the audience at VSSC, PM Modi stated that India's
success in the space sector is fostering a scientific temperament among the country's youth.
About ISRO :
Prime Minister Shri Narendra Modi Unveils 4 Astronaut-Designates for Gaganyaan Mission
• Prime Minister Shri Narendra Modi announced the names of the 4 astronauts who are undergoing
training for the country's maiden human space flight mission, Gaganyaan.
• The 4 candidates, Group Captains Prasanth Balakrishnan Nair (47), Angad Pratap (41), Ajit
Krishnan (41), and Wing Commander Shubhanshu Shukla (38), are officers of the Indian Air Force
(IAF).
• These selected astronauts will follow in the footsteps of Rakesh Sharma, the first and only Indian
to have travelled to space in 1984 aboard a Russian spacecraft.
• Additionally, Indian-Americans Kalpana Chawla and Sunita Williams have also been to space on
NASA missions.
Indian Institute of Technology Madras and Translational Health Science and Technology Institute
Collaborate to Develop AI-Powered Model for Determining Foetal Age in Pregnant Indian Women,
Enhancing Pregnancy Care
• The Indian Institute of Technology (IIT) Madras and Translational Health Science and Technology
Institute (THSTI), Faridabad have collaborated to develop the first India-specific Artificial
Intelligence (AI) model named Garbhini-GA2 to determine the age of a foetus in a pregnant woman
in the second and third trimesters precisely.
• This model is notable for being the first late-trimester Gestational Age (GA) estimation model
validated with data from the Indian population, specifically the GARBH-Ini dataset.
.
• This study was conducted in partnership with Gurugram Civil Hospital, Gurugram, Safdarjung
Hospital, New Delhi, Christian Medical College Vellore and Pondicherry Institute of Medical
Sciences, Puducherry.
Google Partners with Election Commission of India (ECI) to Combat Dissemination of False Information
• Alphabet Inc-owned Google has joined hands with the Election Commission of India (ECI) to
prevent spread of false information, promote authorised content and label AI-generated data
during the upcoming general elections.
• Google has already started displaying labels for content created with YouTube generative AI
features, like Dream Screen.
• Strict Advertising Policies: Google has implemented strict policies and restrictions for election-
related advertising on its platforms.
• These measures include identity verification, certification, authorization by the ECI, and disclosure
of financiers.
About Google :
About ECI :
• Chief Election Commissioner of India : Rajiv Kumar
• The Election Commission of India (ECI) is a constitutional body, established by the Constitution of
India to conduct and regulate elections in the country.
• The Election Commission operates under the authority of Constitution per Article 324
• Article 324 of the Constitution provides that the power of superintendence, direction, and control of
elections to parliament, state legislatures, the office of the president of India, and the office of vice-
president of India shall be vested in the election commission.
India Successfully Conducts Test of Agni-V Ballistic Missile Featuring Multiple Warhead Technology as
part of Mission Divyastra
.
• India had successfully tested a new Agni-5 missile capable of carrying multiple warheads and
striking multiple targets.
• The significant aspect of this new missile is its integration with Multiple Independently Targetable
Re-entry Vehicle (MIRV) technology.
• MIRV Technology : MIRV (Multiple Independently Targetable Re-entry Vehicle) technology is the
capability that allows multiple warheads to be loaded on a single missile delivery system and
programmed to hit different targets, thus greatly enhancing the missile’s destructive potential.
Union Minister Jitendra Singh Inaugurates Indian National Space Promotion and Authorisation Centre
Technical Centre in Ahmedabad
• Union Minister Dr. Jitendra Singh inaugurated the IN-SPACe Technical Centre at the headquarters
of the Indian National Space Promotion and Authorisation Centre (IN-SPACe) in the Bopal area of
Ahmedabad.
• India's target is to take the space economy from 2% to 10% by 2030, which will be a five-fold
increase, and 15 per cent by 2047 as per the vision document.
• The IN-SPACe Technical Centre offers various facilities, including the Climate Simulation Test
Facility (CSTF), Thermal and Vacuum Environment Simulation Facility (TVAC), Vibration Test
Facility (VTF), Space Systems Assembly Integration Testing and Checkout Laboratory, RF and
Opto-Electronics Laboratory, and Clean Rooms for Assembly, Integration, and Testing (AIT)
activities.
Government Plans Collaboration with Indian Space Research Organisation to Bring Internet to 80
Remote Tribal Villages
• The Ministry of Tribal Affairs is planning to collaborate with the Indian Space Research
Organisation (ISRO) to deploy V-SAT stations on a pilot basis for around 80 tribal villages in
Jharkhand, Madhya Pradesh, Odisha, and Maharashtra to bring Internet services there.
• Enhanced Connectivity: These V-SAT stations will offer Wi-Fi capacity of up to 100 Mbps, which
can be further boosted by additional boosters, thereby improving connectivity and facilitating
access to essential services for tribal communities.
• V-SAT Technology: Very Small Aperture Terminal (VSAT) stations, which are less than three
meters tall, will be utilized.
About ISRO :
.

Vikram Sarabhai Space Centre, Indian Space Research Organisation Collaborate to Develop Multi-
Purpose App 'Sakhi' to Aid Gaganyaan Crew
● The Vikram Sarabhai Space Centre (VSSC), an Indian Space Research Organisation (ISRO)
facility in Thumba, Thiruvananthapuram, has developed a multi-purpose app called Space-borne
Assistant and Knowledge Hub for Crew Interaction (SAKHI).
● Purpose of SAKHI: To assist astronauts on the Gaganyaan space flight mission by providing vital
technical information, facilitating communication, and monitoring their health.
● Features of SAKHI: Monitors astronauts' health.
● Facilitates communication between crew members and with ground-based stations.
● Alerts astronauts about dietary schedules, hydration, and sleep patterns.
About ISRO :
National Aeronautics and Space Administration Plans to Transport 'Message in a Bottle' to Europa, One
of Jupiter's Moons in October 2024
● The National Aeronautics and Space Administration (NASA) plans to send a "message in a
bottle" to Europa, one of Jupiter's moons, as part of the Europa Clipper mission in October 2024
● Aim of Europa Clipper mission : To explore signs of life on Europa, with scientists predicting the
existence of a salty lake beneath its icy crust.
● The Europa Clipper spacecraft will carry a triangular metal plate with an engraving of US Poet
Laureate Ada Limón’s handwritten “In Praise of Mystery: A Poem for Europa,” along with a silicon
microchip stencilled with more than 2.6 million names submitted by the public.
● The metal plate will also feature etchings of 103 waveforms representing the sound wave
produced by saying the word "water" in 103 different languages, including Hindi, highlighting the
Indian connection to the mission.
● In 2023, NASA conducted a "Message in a Bottle" campaign, inviting the public to submit their
names to be included on the spacecraft.
.
About NASA :
European Union parliament adopts world's first rules to govern Artificial Intelligence
● The European Parliament has approved the world's first regulations governing artificial
intelligence (AI).
● Scope of Regulation: The regulation addresses specific risks associated with AI use, including
biometric authentication, facial recognition, and high-risk domains such as healthcare and deep
fakes.
● Definition of High-Risk Systems: The regulation defines high-risk systems as those with the
potential to cause harm to health, safety, fundamental rights, environment, democracy, and the
rule of law.
● Penalties for Violations: Violations of the AI Act could result in fines of up to 35 million euros ($38
million) or 7% of a company's global revenue.
AgniKul Cosmos postpones maiden rocket launch due to 'technical issue'
● Agnikul Cosmos, the Indian Institute of Technology (IIT)-Madras incubated startup, has
postponed its maiden rocket launch due to a 'technical issue'.
● The Chennai-headquartered company had initially scheduled the launch of the mission 'Agnibaan
SOrTeD' (Sub Orbital Technology Demonstrator) for March 22, 2024.
● The launch was planned to take place from its private launch pad located within the campus of
ISRO at Sriharikota in Andhra Pradesh, approximately 100 km from Chennai.
● The Agnibaan SOrTeD mission is described as an innovative, single-stage Sub-Orbital
Technology Demonstrator.
● Agnikul Cosmos Private Limited was incubated at the Indian Institute of Technology – Madras
(IIT-Madras).
● It builds dedicated, fully customizable & transportable launch vehicles for small satellites to Low
Earth Orbits (LEO) called Agnibaan.
● Note : Hyderabad-based Skyroot Aerospace, which became the first private space startup to
launch its maiden rocket Vikram-S in 2022, marking the entry of the private sector into India's
space ecosystem.
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ISRO Successfully Executes the second landing test of Pushpak in Karnataka

● The Indian Space Research Organization (ISRO) successfully conducted the second landing test
of its reusable launch vehicle (RLV), named Pushpak, at the Aeronautical Test Range (ATR) in
Challakere near Chitradurga, Karnataka.
● The vehicle's name has been inspired by the Ramayana's mythical 'Pushpak Viman' since this
modern-day aircraft stands as a symbol of innovation and prosperity.
● ISRO conducted the first landing experiment, RLV-LEX-01, with a scaled down version of the
RLV technology demonstrator (RLV-TD) 2023 on a Chinook Helicopter of the Indian Air Force.
● The scientists have designed the Pushpak RLV as an all-rocket and fully reusable single-stage-
to-orbit (SSTO) vehicle.
● RLV-TD (technology demonstrator) is one of the most challenging endeavours of the Indian
space agency towards developing essential technologies for a fully reusable launch vehicle to
enable low-cost access to space.
About ISRO :
Government Expected to Ease Export Regulations for Networking Equipment and Information Security
Software
● In line with the policy to promote exports of high-tech items, the government is set to liberalise
exports of two controlled items with dual-use capabilities – networking equipment and information
security software – for certified exporters shipping the items for civilian use following specified
standards.
● The identified items are part of the the SCOMET (Special Chemicals, Organisms, Materials,
Equipment, and Technologies) list of controlled products, which includes dual-use goods with the
potential for both civilian applications as well as weapons of mass destruction, whose exports are
either prohibited or permitted under authorised licencing.
● Export Facilitation for AEO Tier 2 Certificate Holders: Exporters holding AEO (Authorized
Economic Operator) tier 2 certificates will be permitted to export the identified products,
networking equipment, and information security software, without the need for case-by-case
.
permission from authorities.

● Reporting Requirement: Under the latest proposal, exporters must submit details of their exports
on a post-export basis every quarter to the SCOMET team.
● This reporting requirement aims to facilitate monitoring and compliance while streamlining the
export process.
BEML Conducts Successful Test of Indigenous 1500 HP Military Vehicle Engine at Mysore Plant
● Defence Secretary Shri Giridhar Aramane presided over the maiden test-firing of India’s first
indigenously-made 1500 Horsepower (HP) engine for Main Battle Tanks at BEML’s Engine
division in Mysore complex.
● The successful test-firing signifies a significant advancement in India's defence capabilities,
showcasing technological prowess and a commitment to self-reliance in defence technologies.
● Cutting-edge Features: The 1500 HP engine represents a paradigm shift in military propulsion
systems, boasting cutting-edge features such as high power-to-weight ratio and operability in
extreme conditions like high altitudes, sub-zero temperatures, and desert environments.
● Project Timeline: The project commenced in August 2020 and is expected to be completed by
mid-2025.
Discovery of Active Martian Volcano 'Noctis' Reveals Evidence of Recent Glacial Activity
● Scientists discovered a massive volcano on Mars, temporarily designated ‘Noctis volcano’, that
has been active until recent times, with the possible remains of a relict glacier at its base.
● Noctis Volcano is a newly-discovered volcano located just south of Mars’ equator, in Eastern
Noctis Labyrinthus, west of Valles Marineris, the planet’s vast canyon system.
● The volcano sits on the eastern edge of a broad regional topographic rise called Tharsis, home to
three other well-known giant volcanoes: Ascraeus Mons, Pavonis Mons, and Arsia Mons.
● The discovery was made using data from a suite of missions, including NASA’s Mariner 9, Viking
Orbiter 1 and 2, Mars Global Surveyor, Mars Odyssey, and Mars Reconnaissance Orbiter.
What is a Volcano?
● A volcano is described as an opening in the earth’s crust through which gases, molten rock
materials (lava), ash, steam, etc., are emitted outward during an eruption.
● Volcanic activity occurs in regions where the rock strata are relatively weak, representing an
endogenic geological process.
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Indian Space Research Organisation’s PSLV Orbital Experimental Module-3 (POEM-3) Achieves
Mission of Zero Orbital Debris
● The Indian Space Research Organisation (ISRO) announced that its PSLV Orbital Experimental
Module-3 (POEM-3) re-entered the Earth's atmosphere without leaving any debris in orbit.
● The PSLV-C58/XPoSat mission has practically left zero debris in orbit.
● PSLV-C58 Mission Accomplishment: The PSLV-C58 Mission was completed on January 1, 2024.
● Transformation into POEM-3: Following the primary mission of satellite deployment, the terminal
stage of PSLV was converted into a 3-axis stabilized platform known as POEM-3.
● De-orbiting Process: The stage was deliberately de-orbited from 650 km to 350 km to facilitate
early re-entry and minimize accidental break-up risks. Passivation was also performed to remove
residual propellants.
● Experimental Payloads: POEM-3 was configured with a total of 9 different experimental payloads
to conduct technology demonstrations and scientific experiments.
Gaia Telescope Unveils Two Ancient Star Streams Shaping Milky Way Over 12 Billion Years Ago
● The European Space Agency's (ESA) Gaia telescope has made a significant discovery, unveiling
two ancient streams of stars that contributed to the formation of the Milky Way galaxy over 12
billion years ago.
● Naming of Star Streams: Researchers named the discovered star streams "Shakti" and "Shiva,"
drawing inspiration from Hindu philosophy where these divine figures are believed to have united
to create the universe.
● Age and Composition: The stars comprising the Shakti and Shiva streams are estimated to be 12
to 13 billion years old, making them some of the oldest components of the Milky Way.
● Definition of Light Year:A light year is the distance light travels in a year, 5.9 trillion miles (9.5
trillion km).
● Stars, gas and dust extend from the galactic center in lengthy spiralling arms, with our sun
residing on one of those.
● Gaia's Mission : Gaia, launched in 2013, is assembling the largest and most precise three-
dimensional map of the Milky Way, measuring the positions, distances and motions of stars.
International Astronomical Union Working Group Approves 'Station Shiv Shakti' as Chandrayaan-3
.
Lander Landing Site Name

● The International Astronomical Union (IAU) working group for Planetary System Nomenclature
has approved the name 'Station Shiv Shakti' for the landing site of Chandrayaan-3's lander.
● The landing site is situated at the coordinates 69.373°S 32.319°E, positioned between the lunar
craters Manzinus C and Simpelius N.
● Naming by PM Narendra Modi: Prime Minister Narendra Modi named the moon landing site 'Shiv
Shakti' on August 26, 2023, soon after the landing of Chandrayaan-3's lander.
● He emphasized the significance of the name, relating it to resolutions for the welfare of humanity
and the strength to fulfill those resolutions, along with a sense of connection with India, from
Himalaya to Kanyakumari.
● IAU Background: The International Astronomical Union (IAU) was founded in 1919.
● It is the world’s largest professional body for astronomers.
About International Astronomical Union :
● Headquarters : Paris, France
● President : Debra Meloy Elmegreen
● The International Astronomical Union is a non-governmental organisation to advance astronomy
in all aspects, including promoting astronomical research, outreach, education, and development
through global cooperation.
RANKING AND REPORTS

India is 3rd largest digitalised country among G20 nations
• According to the State of India's Digital Economy Report, 2024, by the Indian Council for Research
on International Economic Relations (ICRIER), India is the third largest digitalised country in the
world, only behind the United States of America (USA) and China.
• However, at the level of individual users, India is ranked 12th in terms of digitalisation among the
G20 countries.
• The study is based on ‘CHIPS’ framework wherein it has scored countries on five pillars - connect,
harness, innovate, protect and sustain.
Adani Electricity Mumbai tops discoms rating chart, Torrent Power Surat 2 nd
.
• Adani Electricity Mumbai has topped the chart in the performance ranking of power distribution
companies for 2022-23.
• Torrent Power Surat and Torrent Power Ahmedabad were at second and third spots in the 12th
edition of Integrated Rating of Discoms released by Union Minister for Power and New &
Renewable Energy R K Singh.
• As many as 14 out of 55 distribution companies received the highest A+ rating.
• Utilities of Gujarat, Haryana, Karnataka, Madhya Pradesh and Andhra Pradesh were in the A+ / A
category, a power ministry release stated.
Indian bond markets eye smaller below $5 billion inflow from Bloomberg inclusion
• Indian government bond market participants informed they expect inflows of less than $5 billion
from the recent inclusion in the Bloomberg Index Services, which is unlikely to have any material
impact on bond yields.
• Bloomberg Index Services would include 34 Indian government bonds eligible for investment via
the country's fully accessible route (FAR), in its Emerging Market Local Currency Index (EMLC)
from Jan. 31, 2025.
• Indian benchmark bond yield has remained around 7.05% for the last few sessions, and is unlikely
to ease much in the near term.
New Delhi Ranked World’s Most Polluted Capital City For 4th Consecutive Year Since 2018
● New Delhi is ranked the world’s most polluted capital city for the fourth consecutive year since 2018.
● According to the Air Quality Report 2023 conducted by Swiss organisation IQAir, Delhi’s PM2.5
levels worsened from 89.1 micrograms per cubic metre in 2022 to 92.7 micrograms per cubic metre
in 2023.
● Bihar’s Begusarai has emerged as the world’s most polluted metropolitan area.
● With an average annual PM2.5 concentration of 54.4 micrograms per cubic metre, India had the
third worst air quality after Bangladesh and Pakistan.
● The report estimated that more than one billion people in India experience PM2.5 concentrations
exceeding the World Health Organisation’s recommended annual guideline level of 5 micrograms
per cubic metre.
EC Announces Para Archer & Arjuna Awardee Sheetal Devi As National PwD Icon
.
● The Election Commission has announced Para Archer and Arjuna Awardee, Sheetal Devi as its
National PwD Icon.
● Her name was announced at an Exhibition Cricket Match between the Indian Deaf Cricket
Association Team and the Delhi and District Cricket Association team held in Delhi.
● The match was organised by the Election Commission in association with the Board of Control for
Cricket in India to foster voter education and inclusivity.
● The event was graced by Chief Election Commissioner Rajiv Kumar and Election Commissioners
Gyanesh Kumar and Sukhbir Singh Sandhu
Indian Olympic Association Dissolves Ad-Hoc Committee For Wrestling

● The Indian Olympic Association, IOA dissolved the ad-hoc committee for wrestling. The committee
was formed in December last year after the sports ministry suspended the Wrestling Federation of
India
Finland ranked the world's happiest country for seventh year

● India was ranked 126th out of 143 nations in a global happiness index released which noted that
older age is associated with higher life satisfaction in the world's most populous country.
● Finland emerged as the happiest country in the world, topping the World Happiness Report 2024,
the seventh successive year that the country has occupied the top spot on the list.
● The other top 10 countries are Denmark, Iceland, Sweden, Israel, Netherlands, Norway,
Luxembourg, Switzerland and Australia.
● India is ranked 126th on the list, behind countries such as Libya, Iraq, Palestine and Niger,
according to the findings announced to mark the UN's International Day of Happiness.
Forced labour generates $236 billion illegal profits per year

● According to the International Labour Organization (ILO) forced labour in the private economy
generates $236 billion in illegal profits per year with the total amount of illegal profits from forced
labour rising by $64 billion or 37% since 2014.
● The report was titled ‘Profits and poverty: The economics of forced labour’.
● Forced labour generates illegal profits worth $36 billion per year.
● According to ILO, there were 27.6 million people engaged in forced labour on any given day in 2021.
.
The Hurun Research Institute has released the 13th edition of the 2024 Hurun Global Rich List.
● Among global billionaires of Hurun Global Rich List, Tesla CEO, Elon Musk, has re-emerged as the
richest man, boasting a fortune of $231 billion followed by Amazon founder Jeff Bezos, with a net
worth of $185 billion, Bernard Arnault ($175 billion), Mark Zuckerberg ($158 billion) and Larry
Willson ($140 billion).
● Hurun Global Rich List’s wealth calculations are a snapshot for the year ended January 15, 2024.
● It is the 13th edition of the ranking.
● Pop superstar Taylor Swift, 34, joined the billionaire club with wealth valued at $1.2 billion, earned
not through typical celebrity side hustles but through her music.
● Taylor Swift became the youngest self-made woman billionaire at 34.
● The global billionaires list witnessed as many as 94 new entrants from India. India's billionaire tally
touched 271 with their combined wealth at $1 trillion.
● India witnessed a “super strong year”, with the country adding the most new entrants to the
billionaire list, after the US (132).
● China added only 55 new faces.
● Mukesh Ambani (10th rank)i, chairman & managing director of Reliance Industries, is the only Indian
to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar
terms.
● Mumbai has pipped Beijing to become Asia's billionaire capital for the first time. New Delhi with 57
billionaires ranked 9th.
● New York has the highest concentration of billionaires (119), followed by London (97) Mumbai (92)
Beijing(91) Shanghai (87).
● India added the second-highest number of new billionaires (94) after the US (109) China ranked 3rd
with 55.
● With 271 billionaires, India is now the third-ranked country globally, surpassing Germany.
World wastes 19% of its food while 783 million face chronic hunger: UN
● The UN Environment Programme's Food Waste Index Report published, tracks the progress of
countries to halve food waste by 2030.
● The world wasted an estimated 19% of the food produced globally in 2022, or about 1.05 billion
metric tons, according to a new United Nations report.
● The U.N. stated the number of countries reporting for the index nearly doubled from the first
report in 2021.
.
● The 2021 report estimated that 17% of the food produced globally in 2019, or 931 million metric
tons (1.03 billion tons), was wasted, but authors warned against direct comparisons because of
the lack of sufficient data from many countries.
● The report is co-authored by UNEP and the Waste and Resources Action Programme (WRAP),
an international charity.
DEFENCE NEWS
Government Signs Rs 39,000-Crore Defence Acquisition Deals to Enhance Self-Reliance
• As part of ‘Aatmanirbharta in Defence’ and to further boost Make-in-India initiative, the Ministry of
Defence (MoD) signed 5 major capital acquisition contracts worth Rs 39,125.39 crore in New
Delhi.
• Aim of the deal : To strengthen indigenous capabilities, promote self-reliance, save foreign
exchange, and reduce dependency on foreign-origin equipment manufacturers in the future.
India-Malaysia Conduct Bilateral Maritime Exercise 'Samudra Laksamana’

• The Indian Navy and the Royal Malaysian Navy are participating in the 3rd edition of bilateral
exercise ‘Samudra Laksamana’ from 28 Feb - 02 Mar 24 at/ off Visakhapatnam.
• Aim : To strengthen bonds and enhance interoperability between the Indian and Royal Malaysian
Navy.
• Participants : Indian Naval Ship Kiltan and Royal Malaysian Ship KD Lekir are participating in the
exercise which has harbour professional interactions followed by the operational phase at sea.
• Minister of State : Ajay Bhatt
Defence Research & Development Organisation Achieves Successful Flight Test of Very Short Range
Air Defence System
.
• Defence Research & Development Organisation (DRDO) conducted two successful flight tests of
Very Short-Range Air Defence System (VSHORADS) missile from a ground based portable
launcher off the coast of Odisha from Integrated Test Range, Chandipur.
• These tests were carried out against high speed unmanned aerial targets under different
interception scenarios.
• During all the test flights, the targets were intercepted and destroyed by the missiles, meeting the
mission objectives.
Indian Navy to Commission New MH 60R Seahawk Multi-Role Helicopter at INS Garuda, Kochi
• The Indian Navy will commission the newly inducted MH 60R Seahawk (a maritime variant of the
Blackhawk helicopter) multi-role helicopter on 06 Mar 2024 at INS Garuda, Kochi marking a pivotal
moment in India’s Defence modernisation journey.
• The Seahawks squadron will be commissioned in the Indian Navy as INAS 334.
• The helicopters are a part of the 24-aircraft FMS contract signed with the United States (US)
government in Feb 2020.
• The Indian Navy is set to witness a significant surge in its maritime prowess with the induction of
the Seahawks.
• The helicopter is designed for anti-submarine warfare (ASW), anti-surface warfare (ASuW), search
and rescue (SAR), medical evacuation (MEDEVAC) and vertical replenishment (VERTREP).
About Indian Navy :
Indian Navy Boosts Operational Capability with Commissioning of INS Jatayu at Minicoy Island
(Lakshadweep)
• The Indian Navy will commission Naval Detachment Minicoy as INS Jatayu with Adm R Hari
Kumar, the Chief of the Naval Staff, presiding over the event.
.
• Strategic Significance: The commissioning signifies a crucial milestone in bolstering security

infrastructure in the strategically vital Lakshadweep Islands, highlighting the Navy's commitment to
enhancing regional security.
• Establishment History: Naval Detachment Minicoy was established in the early 1980s under the
operational command of the Naval Officer-in-Charge (Lakshadweep), aiming to bolster maritime
security in the region.
• Geopolitical Importance of Minicoy: Minicoy, being the southernmost island of Lakshadweep, holds
significant strategic value as it lies along the crucial Sea Lines of Communications (SLOCs), vital
for maritime trade and security.
About Indian Navy :
Defence Minister Rajnath Singh Unveils ADITI Scheme at DefConnect 2024 to Foster Innovations in
Critical and Strategic Defence Technologies
• Raksha Mantri Shri Rajnath Singh inaugurated the Acing Development of Innovative Technologies
with iDEX (ADITI) scheme during DefConnect 2024 in New Delhi.
• Objective of the Scheme: To promote innovations in critical and strategic defence technologies,
with a particular focus on supporting start-ups.
• Financial Assistance for Start-ups: Under the scheme, start-ups can receive a grant-in-aid of up to
Rs 25 crore to support their research, development, and innovation efforts in defence technology.
• Nurturing Youth Innovation: ADITI is designed to nurture the innovation of youth and propel the
country forward in the technology domain, particularly in the defence sector.
.
Saab Commences Construction of New Carl-Gustaf M4 Weapon Manufacturing Facility in Haryana

• Swedish defence company Saab has initiated construction on a new manufacturing facility in India
for its renowned Carl-Gustaf M4 weapons.
• The groundbreaking ceremony marked the formal commencement of the project.
• The facility is situated in the state of Haryana, specifically at MET City in Jhajjar.
• Haryana was chosen due to its robust industrial base, potential partnerships, and availability of
skilled labour.
Commencement Scheduled for 1st Edition of Naval Commanders’ Conference 2024

• The first edition of the Biannual Naval Commanders’ Conference 2024 was conducted from 05 to
08 March 2024.
• The conference serves as a crucial institutional platform for discussing significant maritime security
issues at the Military-Strategic level.
• The inaugural session of the conference took place onboard the aircraft carrier Indian Naval Ship
(INS) Vikramaditya, highlighting the symbolic significance of the event.
• Follow-on proceedings were conducted in New Delhi, in hybrid format, on 07 and 08 March 2024.
Joint Exercise "Sea Defenders-2024" Commences as US Coast Guard Ship Bertholf Visits Port Blair for
Collaboration with Indian Coast Guard
• Marking a significant step in bolstering bilateral cooperation between the Indian Coast Guard (ICG)
and the United States Coast Guard (USCG), the USCG Ship Bertholf reached Port Blair for a joint
exercise with the Indian Coast Guard (ICG).
• Codenamed “Sea Defenders-2024” the joint exercise is scheduled to take place on 09-10 Mar
2024 off the coast of Port Blair.
• The exercise will simulate scenarios relevant to maritime piracy and asymmetric threats, including
simulated drone attacks on commercial merchant traffic, joint maritime search and rescue
operations, major firefighting, marine pollution response, and counter-drug interdiction exercises.
China and Maldives Forge New Defence Agreements Amid Strained Relations between Malé and New
Delhi
• A defence cooperation agreement has been signed between China and the Maldives to foster
stronger bilateral ties.
.
• The Maldives is poised to receive free military aid from China following a diplomatic dispute with
India.
• The agreement between Beijing and Malé was signed by the Maldivian minister of defence
Mohamed Ghassan Maumoon and Major General Zhang Baoqun, the Chinese deputy director of
the office for international military cooperation.
About China :
• Capital : Beijing
About Maldives :
• President : Mohamed Muizzu
• Capital : Malé
• Currency : Maldivian rufiyaa
Indian Navy Inaugurates Indian Naval Ship Jatayu at Minicoy, MH-60R Helicopter Squadron at Kochi
• The Indian Navy commissioned Indian Naval Ship (INS) Jatayu, at Minicoy island in the
Lakshadweep Islands, its second base in Lakshadweep after INS Dweeprakshak in Kavaratti.
• The Navy has also commissioned its first MH-60R multi-role helicopter squadron INAS 334
‘Seahawks’ at Kochi, a major capability boost for its rotary fleet and its anti-submarine warfare
capabilities.
• New Delhi had signed an agreement with Washington to buy 24 of these choppers and 6 have
been delivered so far.
Indian Navy offers support to Liberian-flagged container vessel, MSC SKY II
• Indian Naval Ship (INS) Kolkata mission-deployed in the Gulf of Aden responded to a request from
MSC Sky II, a Liberian-flagged Container Vessel, which was reportedly attacked by a drone/
missile, at about 1900 h (IST), approximately 90 nm South East of Aden.
• INS Kolkata was promptly diverted to provide necessary assistance and reached the location of the
incident by 2230 hours (IST) the same day.
Instir, Flagship of First Training Squadron, Engages in Exercise Cutlass Express 2024 in Port Victoria,
.
Seychelles, February 26th - March 8th, 2024

● INSTIR, the lead ship of First Training Squadron 1TS participated in Exercise Cutlass Express
2024 held at Port Victoria, Seychelles from 26 Feb – 08 Mar 2024.
● The exercise was inaugurated by the President of Seychelles in attendance of dignitaries from
India, the United States of America (USA) and African countries.
● As part of Cutlass Express, Indian Navy actively engaged with participants from 16 friendly
foreign countries.
● During the sea phase, the ship's VBSS team boarded the Seychelles Coast Guard (SCG) ship
LE Vigilant and demonstrated the procedures of boarding operations.
● It is a premier multinational maritime exercise sponsored by the U.S. Africa Command
(AFRICOM) and led by U.S. Naval Forces Europe-Africa/U.S. Sixth Fleet.
● The Indian Navy has been participating in the exercise since 2019.
● Minister of State : Ajay Bhatt
China, Iran, and Russia Conduct Joint Drills Near Gulf of Oman to Ensure Regional Maritime Security
● China, Iran, and Russia initiated a joint naval exercise named "Security Belt-2024" near the Gulf
of Oman.
● Purpose of Exercise: The exercise aims to safeguard regional maritime security, explicitly stating
that it does not target any third country or current regional tensions.
● This marks the fourth joint naval exercise conducted by the three countries since 2019.
● The joint exercise kicked off after Chinese warships arrived in waters near Chabahar, Iran and
rendezvoused with participating Iranian and Russian naval vessels.
● Exercise Theme: The exercise revolves around the theme of "jointly building peace and security."
● It focuses on anti-piracy and search and rescue training courses and is organized into 3 phases:
harbour phase, sea phase, and summarize phase.
Participating Forces :
● China : 3 warships of the People's Liberation Army (PLA) Navy's 45th escort task force that just
wrapped up escort missions in the Gulf of Aden, namely the Type 052D guided missile destroyer
Urumqi, the Type 054A guided missile frigate Linyi and the Type 903A comprehensive
.
replenishment ship Dongpinghu

● Iran: Over 10 vessels, including the frigates Alborz and Jamaran
● Russia: The guided-missile cruiser Varyag and the large anti-submarine warfare ship Marshal
Shaposhnikov.
● Observer Nations: Envoys from the militaries of Azerbaijan, India, Kazakhstan, Oman, Pakistan,
and South Africa attended the exercise as observers.
About China:
● Currency: Renminbi
About Iran :
About Russia :
Prime Minister Shri Narendra Modi Observes 'Bharat Shakti' Tri-Services Firing and Manoeuvre
Exercise in Pokhran, Rajasthan
● Prime Minister Shri Narendra Modi, along with delegates from over 30 nations, witnessed the tri-
service exercise called 'Bharat Shakti' at the Pokhran field firing range in Jaisalmer, Rajasthan.
● Aim of the exercise : To demonstrate the calibrated tactical use of advanced technology in a tri-
services environment against perceived threats.
● It showcases indigenous weapon systems and platforms, aligning with India's Aatmanirbharata
(self-reliance) initiative.
● Platforms Demonstrated: Various indigenous weapon systems and platforms were showcased
during the exercise, including LCA Tejas, ALH Mk-IV, mobile anti-drone system, T90 tanks,
Dhanush, K9 Vajra, and Pinaka.
● Pokhran's Significance : Pokhran is a remote location in the Thar Desert of Rajasthan’s Jaisalmer
.
district.
● The Test Range in Pokhran hosted the detonation of India’s first nuclear device in 1974.
Indian Army Contingent Sets Off to Seychelles for Joint Military Drill 'Exercise Lamitiye – 2024
● Indian Army contingent departed for Seychelles to participate in the 10th edition of Joint Military
Exercise “LAMITIYE-2024” between the Indian Army and Seychelles Defence Forces (SDF).
● The Joint Exercise will be conducted in Seychelles from 18-27 March 2024.
● Aim of the Exercise : To enhance interoperability in Sub-conventional Operations in Semi-Urban
environments under Chapter VII of the United Nations Charter on Peacekeeping Operations.
About the Exercise LAMITIYE :
● ‘LAMITIYE’ meaning ‘Friendship’ in the Creole language is a biennial training event and has been
conducted in Seychelles since 2001.
● Participating Forces:45 personnel each from the GORKHA RIFLES of the Indian Army and the
Seychelles Defence Forces (SDF) will participate in the exercise.
● Objective:Enhance cooperation and interoperability between the Indian Army and Seychelles
Defence Forces during Peacekeeping Operations.
● The 10 days long Joint Exercise will include Field Training Exercise, combat discussions,
lectures & demonstrations, which culminates with two days of Validation Exercise.
India and United States to Conduct Bilateral Humanitarian Assistance and Disaster Relief Exercise
'Tiger Triumph - 24' on Eastern Seaboard
● In consonance with the established partnership between India and the United States (US), a
bilateral tri-service Humanitarian Assistance and Disaster Relief (HADR) Exercise between both
countries, Tiger Triumph – 24, is scheduled on the Eastern Seaboard from 18 to 31 March 2024.
● Aim : To develop interoperability for conducting HADR operations and refine Standard Operating
Procedures (SOPs) to enable rapid and smooth coordination between the forces of both
countries.
Participants:
● Indian Navy Ships with integral helicopters and landing crafts embarked, Indian Navy aircraft,
Indian Army personnel and vehicles, Indian Air Force aircraft and helicopters, and the Rapid
Action Medical Team (RAMT) will participate from the Indian side.
● The US will be represented by US Navy Ships with embarked troops of the US Marine Corps and
.
US Army.
Indian Navy's 3rd Station Commanders' Workshop Set to Take Place in New Delhi from March 18-20,
2024
● The 3rd edition of the Station Commanders' Workshop of the Indian Navy is scheduled from
March 18-20, 2024, in New Delhi.
● The workshop follows the successful conduct of two previous editions held at INS Hamla in
Mumbai (Southern Naval Command) and INS Circars (Eastern Naval Command).
● Objective: To facilitate brainstorming and exchange of ideas among naval leadership to enhance
the overall administration of naval stations nationwide.
● Participants: More than 100 Station Commanders, Unit Heads, and Commanding Officers from
various naval stations across India, including the island territories of Lakshadweep and Andaman
& Nicobar Islands, will participate.
● History : 2nd edition of Station Commanders Workshop, an assembly of all the Station
Commanders across the Navy who provide administrative and functional support to Operational
units, commenced at Visakhapatnam on 09 Oct 2023.
Indian Army Establishes Specialized Technology Unit 'STEAG' for Future Warfare
● The Indian Army has established the "Signals Technology Evaluation and Adaptation Group"
(STEAG) as a specialized technology unit focused on researching and evaluating next-
generation communication technologies for defence applications and future warfare.
● Focus Areas: STEAG's research and evaluation areas include Artificial Intelligence (AI), 5G and
6G networks, machine learning, and quantum technologies, emphasizing the importance of
staying abreast of technological advancements for future warfare.
● The move is in sync with the realisation in the Indian armed forces to equip themselves with next-
generation fighting capabilities.
● In addition to STEAG, the Army decided to operationalize command cyber operations and
support wings (CCOSW) for cyber warfare last year, highlighting the growing emphasis on cyber
capabilities.
● Scope and Mandate of STEAG: STEAG, under the Corps of Signals, will nurture and develop
tailored technologies across wired and wireless systems, including electronic exchanges, mobile
communications, Software Defined Radios (SDR), Electronic Warfare (EW) systems, 5G and 6G
.
networks, Quantum Technologies, Artificial Intelligence, and Machine Learning.

About Indian Army :
● Established : 26 January 1950
● Chief of Defence Staff : General Anil Chauhan
● Chief of the Army Staff : General Manoj Pande
Indian Army Launches Elite Technology Unit Signals Technology Evaluation and Adaptation Group to
Pioneer Future Communication Technologies
● The Indian Army has initiated the establishment of the Signals Technology Evaluation and
Adaptation Group (STEAG), a unit dedicated to researching and evaluating futuristic
communication technologies.
● Signals Technology Evaluation and Adaptation Group is a unit dedicated to researching and
evaluating futuristic communication technologies like 6G, Artificial Intelligence (AI), machine
learning and quantum computing for military applications.
● Objective: To nurture technologies across wired and wireless systems, covering a wide spectrum
of domains including electronic exchanges, mobile communications, software-defined radios,
electronic warfare systems and more.
About Indian Army :
Indian Navy Conducts Ongoing Maritime Security Operations (Operation Sankalp) from 14th December
2023 to 23rd March 2024
● Indian Navy has responded to the manifestation of Israel – Hamas conflict in the maritime domain
by re-orienting and significantly enhancing the scope of its ongoing maritime security operations
since mid-Dec 23.
● The navy undertook proactive actions during the hijacking of Malta Flagged Bulk Carrier MV
Ruen on 14 Dec 23.
● 23 Mar 2024, marks the completion of 100 days of the ongoing maritime security operations
under the aegis of ‘Op Sankalp’.
● During this time, the Indian Navy has responded to 18 incidents and has played a pivotal role as
the ‘First Responder’ and ‘Preferred Security Partner’ in the Indian Ocean Region.
.
About Indian Navy :

● Chief of the Naval Staff : Admiral R. Hari Kumar
United Kingdom Ministry of Defence Successfully Tests First Laser Weapon 'DragonFire
● The successful testing of the "DragonFire" laser weapon by the United Kingdom's (UK) Ministry
of Defence (MoD) represents a significant milestone in the country's military technology
development.
● Purpose and Functionality: "DragonFire" is a high-powered laser designed specifically to target
and neutralize drones.
● Purpose and Functionality: "DragonFire" is a high-powered laser designed specifically to target
and neutralize drones.
● It offers a potentially cost-effective alternative to traditional missile-based air defense systems.
● Dual Usage: The "DragonFire" laser weapon is intended for use by both the Army and the Royal
Navy, indicating its versatility and potential for enhancing air defense capabilities across various
branches of the military.
SUMMITS AND CONFERENCE

First-ever India pavilion inaugurated at Game Developers Conference in San Francisco
● The first-ever India pavilion has been inaugurated at the prestigious Game Developers Conference
in San Francisco, reflecting a new dimension of the bilateral relationship between India and the US.
● The inauguration also saw the launch of the 'India Gaming Market Report'.
● It was done in collaboration with the US-India Strategic and Partnership Forum and its member
WinZO.
● According to the report, India's gaming market is expected to grow from USD 3.1 billion in 2023 to
USD 6 billion in 2028.
.
BOOKS & AUTHORS

From A Car Shed To The Corner Room & Beyond authored by S Raman
● A book titled “From A Car Shed To The Corner Room & Beyond” is written by S Raman.
● S Raman, who retired as CMD of Canara Bank, and as a whole time Member of the board of
SEBI, rose to the top, having started his career as a clerk with SBI.
● Within two years, he was selected as a direct recruit officer in Bank of India and rose meteorically
to be an Executive Director in Union Bank and then as CMD of Canara.
● He hails from a middle-class Tamil family in Hyderabad.
SPORTS NEWS
India takes the top place in the standings of the ICC World Test Championship.
• The Indian Men's Cricket Team has reached on top in the World Test Championship (WTC)
standings, replacing New Zealand in the latest rankings issued.
• The International Cricket Council (ICC) updated their WTC points table, in which India moved to
the top of the points table, following Australia's victory over New Zealand in the Wellington Test.
• India is currently leading the five-match test series against England 3-1, and a win in the final
match of the series will further strengthen their position in the WTC points table.
Indian Grandmaster R Praggnanandhaa wins the Prague Masters Chess match against fellow
countryman Vidit Gujrathi.
• Indian Grandmaster R Praggnanandhaa defeated compatriot Vidit Gujrathi in the fifth round of
Prague Masters Chess in the Czech Republic.
• In the other match, D. Gukesh went down against the Czech Republic's David Navara.
• Praggnanandhaa shares the fourth spot with Navara and Gukesh with four rounds to play.
• In the Challengers section, Grandmaster R. Vaishali went down to Erwin L’Ami of Holland.
• The Prague Chess Festival is taking place from February 27 to March 7 at the Don Giovanni Hotel.
Indian shuttler B Sai Praneeth announces retirement from international badminton
• Indian shuttler B Sai Praneeth has announced his retirement from international badminton.
• The 31-year-old battled nagging injuries since the Olympic Games in Tokyo and decided to hang
his boots due to that.
• Praneeth confirmed the news on his social media accounts.
.
• In his 24-year-long career, he won a World Championships bronze medal and represented India at
the Tokyo 2020 Olympics.
• Following his retirement, Praneeth who has also won the 2017 Singapore Open, is set to begin a
new innings as the head coach of the Triangle Badminton Academy in the US.
Uzbek Abdusattorov is defeated by Indian Grandmaster R Praggnanandhaa in the Prague International

Chess Festival in 2024.
• Indian Grandmaster R Praggnanandhaa defeated Nodirbek Abdusattorov of Uzbekistan in the
sixth round of the Prague International Chess Festival 2024 Masters to retain the fourth spot in the
tournament.
• Abdusattorov remains as the sole leader despite the loss.
• India's Vidit Gujrathi went down against Germany's Vincent Keymer from a winning position.
• Gukesh D also lost his match against Mateusz Bartel of Poland.
• The Prague Chess Festival is taking place from February 27 to March 7 at Don Giovanni Hotel.
Max Verstappen wins season-opening Bahrain Grand Prix amid Red Bull turmoil
• Formula 1 champion Max Verstappen eased to victory in the season-opening Bahrain Grand Prix
despite the turmoil surrounding his Red Bull team principal Christian Horner.
• Verstappen started in pole position and was never seriously challenged on his way to a
commanding one-two win for Red Bull ahead of his teammate Sergio Perez.
• Carlos Sainz Jr. was third for Ferrari after fighting hard with teammate Charles Leclerc.
• The 2024 FIA Formula One World Championship is a motor racing championship for Formula One
cars and is the 75th running of the Formula One World Championship.
Indian Paralympic Committee's ban is immediately lifted by the Sports Ministry.

• The Sports Ministry has revoked the suspension of the Paralympic Committee of India (PCI) with
immediate effect.
• The Paralympic Committee of India that the main ground for suspension is being addressed and
PCI will be hosting the 2024 World Shooting Para Sport World Cup from 6th March to 15 March
2024 at New Delhi.
• The Ministry in February this year, had suspended the government recognition of PCI due to delay
in holding the election after the expiry of the term of the executive committee of PCI and non-
compliance with its guidelines.
.
Khelo India athletes now eligible for government jobs

• The Khelo India athletes will now be eligible for government jobs.
• In this regard, the Department of Personnel and Training and Sports Ministry have made
progressive revisions to the eligibility criteria for sportspersons seeking government jobs
• Union Sports Minister Anurag Singh Thakur, groundbreaking step now extends eligibility to medal
winners from Youth, University, Para and Winters Games of Khelo India Games to be eligible for
government jobs.
Union Minister of Petroleum and Natural Gas Hardeep S Puri inaugurates 5th ONGC Para Games
• The Minister Hardeep S Puri inaugurated the 5th ONGC Para Games being held in Thyagaraj
Stadium, New Delhi from 8-10 March 2024.
• Shri Pankaj Jain, Secretary, Ministry of Petroleum & Natural Gas (MoPNG) and senior officials
from Oil & Gas PSUs attended the event.
• Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, The
ONGC Para Games is a testament to the spirit of the participating athletes.
Satwiksairaj Rankireddy and Chirag Shetty win Doubles title at French Open badminton tournament in
Paris
• Indian pair Satwiksairaj Rankireddy and Chirag Shetty have clinched their second French Open
Men's doubles Badminton title.
• The Indian top seed registered a straight games victory over Yang Po-han and Lee Jhe-huei of
Taiwan in the final 21-11, 21-17.
• Satwik and Chirag had earlier won the title in 2022.
India is ranked first in all three formats and first in the ICC Test rankings.
• India crushed England in Dharamsala to win the five-match series 4-1, Rohit Sharma's side
claimed the top spot in the ICC Test rankings, overtaking Australia in the latest rankings released
by the world governing body for Cricket in Dubai.
• India, who are already heading the World Test Championship standings, are now at the summit of
the ICC rankings in all three formats of the game.
• Rohit's side will remain at the top of the chart, irrespective of the result of the second Test between
New Zealand and Australia currently underway in Christchurch.
Indian Athlete Gulveer Singh Shatters a 16-Year-Old National Record By Over 20 Seconds In The Ten
Event At San Juan Capistrano In California
● Indian Athlete Gulveer Singh shattered a 16-year-old national record by over 20 seconds by clocking
.
27.41.81 in The Ten event at San Juan Capistrano in California.

● The 25-year-old finished second in the men’s 10000m race.
● However, the Asian Games Bronze medallist failed to qualify for the Paris Olympic Games as he
missed the qualification time of 27:00.00 by over 41 seconds.
Six-Time Miami Open Champion Novak Djokovic Confirms Withdrawal From Miami Open Citing
Scheduling Issues
● Six-time Miami Open champion Novak Djokovic confirmed to pull out of the upcoming Tennis
Tournament.
● The top-ranked 36-year-old Serbian star apologised to his Miami fans on a social media platform,
citing the balance between his “private and professional schedule at this stage of his career.
● The shock came at the hands of Luca Nardi, a 20-year-old Italian ranked No. 123, who managed to
secure a victory with scores of 6-4, 3-6, 6-3 in the third round.
Matthew Wade retires from red-ball cricket to focus on shorter formats

● Australian wicketkeeper-batter Matthew Wade, will retire from first-class cricket after the upcoming
Sheffield Shield final but will remain available for selection in white-ball formats.
● Former Australian Test wicketkeeper Matthew Wade has called time on the red-ball game, but will
continue playing cricket’s shorter formats.
● The Sheffield Shield final between Tasmania and Western Australia, beginning here on March 21,
will be Wade's final red-ball match of a career that started in 2012.
● After that game, the left-handed batter will join Gujarat Titans for IPL 2024, though he will miss the
first couple of matches as the Shield final clashes with the league's schedule.
About Australia
● Capital: Canberra
● Currency: Australian Dollar
● Prime Minister: Anthony Albanese
Recently Retired Cricketers
● Saurabh Tiwary- India
● Varun Aaron- India
● Manoj Tiwary- India, and
● Faiz Fazal- India
RCB conquer Delhi Capitals by 8 wickets, clinch maiden title
.
● Royal Challengers Bangalore defeated Delhi Capitals by eight wickets in the Women's Premier
League 2024 final, in New Delhi.
● After bundling out Delhi for 113, RCB reached 115/2 in 19.2 overs.
● Richa Ghosh (17*) hit the match-winning four, wrapping up proceedings with Ellyse Perry (35*).
Lakshya Sen & P.V. Sindhu To Begin Campaign On Opening Day Of Swiss Open Tournament In Basel
● The 2024 edition of the Swiss Open Super 300 Badminton tournament will begin in Basel,
Switzerland.
● In the Men’s Singles category, India’s Lakshya Sen, seeded seventh, will start his campaign against
Leong Jun Hao of Malaysia in the round of 32, while Kidambi Srikant will face Wang Tzu-wei of
Taiwan.
● In Women’s Singles, fourth-seeded P V Sindhu is scheduled to face Germany’s Yvonne Li in the
round of 32.
● In Women’s doubles, the sixth-seeded duo of Ashwini Ponnappa and Tanisha Crasto will take on
Indonesia’s Meilysa Trias Puspitasari and Rachel Allessya Rose, while another Indian pair of Treesa
Jolly and Gayatri Gopichand, will lock horns with Annie Xu and Kerry Xu of the USA.
India’s sports industry revenues grew 11 per cent to cross ₹15,000 crore mark in 2023
● India’s sports industry clocked a growth of 11 per cent recording a total revenue of ₹15,766 crore in
2023 over 2022, as per a report released by GroupM ESP.
● The revenues include sponsorships, media spending and endorsement fees.
● Nearly 87 per cent of the sports industry’s revenues came from cricket amounting to ₹13,701 crore
in 2023, up 13 per cent.
● Sponsorship spending surged to ₹7,345 crore in 2023 up 24 per cent over 2022 primarily driven by a
significant increase in franchise fees indicating the robustness of India’s franchising ecosystem led
by IPL and WPL.
● But, overall media spending on sports was almost flat and stood at ₹7,494 crore in 2023 (down 1 per
cent over 2022).
Lakshya Sen jumps five places to reach world number 13 in latest BWF rankings
● India’s Lakshya Sen jumped five places to reach world number 13 in the latest BWF rankings,
following his impressive run at the All England Championships.
.
● The 22-year-old from Almora had reached the semifinals in Birmingham and his effort saw him
improve to world number 12 from the 15th spot a week back in the Olympic Games Qualification.
● HS Prannoy is at number 9 in the Paris race and Sen too is primed to cut.
● Among others, World Championships and Asian Games bronze medallist HS Prannoy was in ninth
position, followed by Kidambi Srikanth ( 27th) and Priyanshu Rajawat (32nd).
● In the women’s singles, two-time Olympic medallist PV Sindhu is in 11th position.
● The Indian men’s doubles pair of Satwiksairaj Rankireddy and Chirag Shetty was at the top position,
while Ashwini Ponnappa and Tanisha Crasto were ranked 20th. Compatriots Treesa Jolly and
Gayatri Gopichand slipped to 26th place.
India’s Sathiyan Gnanasekaran Clinches Men’s Singles Title At World Table Tennis Feeder Beirut
Tournament In Lebanon
● In Table Tennis, India’s Sathiyan Gnanasekaran has clinched the Men’s Singles title at the WTT
Feeder Beirut tournament in Lebanon.
● World Number 103 Sathiyan defeated compatriot and World Number 74 Manav Vikas Thakkar, 3-1
(6-11, 11-7, 11-7, 11-4) victory over compatriot Manav Vikas Thakkar in the final.
● Indian paddlers finished the tournament with two titles and three runner-ups.
Mary Kom was named Chef De Mission for the Paris Olympics
● Six-time women's boxing World Champion Mary Kom was appointed Chef de Mission of the Indian
contingent for the Paris Olympics, while veteran table tennis player and CWG champion Sharath
Kamal will be the country’s flag bearer at the Games.
● The 41-year-old table tennis player symbolises “the unity and spirit of our contingent as they
compete on the Olympic stage”, the Indian Olympic Association (IOA) said in a statement while
making the announcement.
FIFA Cancels Japan & North Korea World Cup Qualifier

● Soccer’s world governing body, FIFA, has cancelled a World Cup qualifier between Japan and North
Korea which was scheduled to be played on 26th March in Pyongyang.
● FIFA announced the decision on its website, saying it decided in the absence of an alternative
venue confirmed by North Korea and the lack of space in the calendar to postpone this game.
● The announcement followed a notification by the North that it could no longer host the match.
.
Badminton World Federation Announces Draws For Upcoming 2024 Thomas And Uber Cup
Tournaments In Chengdu, China
● The Badminton World Federation has announced the draws for the upcoming 2024 Thomas and
Uber Cup tournaments in Chengdu, China.
● Defending champion Indian men’s team has been clubbed with tournament’s most successful team,
Indonesia.
● India will also face Thailand and England in Group C.
● India made history by clinching the Thomas Cup in 2022 with an impressive victory over Indonesia in
Bangkok.
● Meanwhile, in the Uber Cup, the Indian women’s badminton team has been placed in Group A with
China, Canada and Singapore.
Maharashtra’s Naheed Divecha Won 2 Gold Medals In Indian Masters National Badminton
Championship 2024 In Panchkula
● Maharashtra’s Naheed Divecha has won two gold medals in the Indian Masters National Badminton
Championship 2024 in Panchkula.
● Divecha, a member of the Bombay Gymkhana and associated with Shuttle Craze Academy clinched
the Women’s 50 singles title by defeating Haryana’s Sunita Singh Panwar in straight sets.
● Later, the duo of Naheed Divecha and Kiran Mokade grabbed the Mixed Doubles 50 title with an
impressive win over the top-seeded Karnataka pair of Prabagaran Subbaiyan and Jayashree Raghu
in straight sets.
Figure Skating: Japan’s Kaori Sakamoto Wins 3rd Straight World Title
● Japan’s Kaori Sakamoto has become the first woman to win three straight titles at the Figure Skating
World Championships since 1968.
● The 2022 Olympic bronze medalist staged a nearly flawless routine featuring multiple triple jumps in
her free skate.
● 17-year-old American Isabeau Levito won Silver while Kim Chae-yeon of South Korea took bronze.
Sreeja Akula Wins Women’s Singles Title At WTT Feeder Beirut II 2024 Table Tennis Tournament
● In Table Tennis, India’s Sreeja Akula won the women’s singles title at the WTT Feeder Beirut II 2024
table tennis tournament at the Al Kawthar Secondary School in Lebanon.
● Akula, the world No. 47, beat Luxembourg’s Sarah De Nutte to win what was her second WTT
.
singles career title.

● For the mixed doubles crown, India’s Poymantee Baisya and Akash Pal beat Sathiyan
Gnanasekaran and Manika Batra, while in Men’s Doubles Final, Manush Shah and Manav Thakkar
won the event of the WTT Feeder Beirut- II tournament in Lebanon.
Satwik-Chirag clinches French Open 2024 title, beats Jhe Huei-Po Hsuan from Chinese Taipei
● Satwiksairaj Rankireddy and Chirag Shetty claimed their first title of the year at the French Open
after brushing aside their opponents from Chinese Taipei, Lee Jhe Huei-Yang Po Hsuan, in just 36
minutes in the French Open 2024.
● This is the first title the Indians have won in 2024 and their seventh world tour title.
About French Open
● The French Open is an annual badminton tournament held in France since 1909 and hosted by the
Fédération Française de Badminton (FFBad).
● BWF categorised the French Open as one of the five BWF World Tour Super 750 events per the
BWF events structure since 2018.
USA secures third straight Concacaf Nations League title with 2-0 victory over Mexico
● The United States clinched their third consecutive Concacaf Nations League title with a commanding
2-0 victory over Mexico in the final of the 2023-24 Concacaf Nations League Finals at AT&T Stadium
in Arlington, Texas, USA
● were the heroes for the USA, each finding the back of the net to secure the historic win against their
arch-rivals
IIT Madras to host the 6th Shaastra Rapid FIDE Rated Chess Tournament.
● An International Chess Federation (FIDE)-rated Rapid Chess Tournament will be hosted by IIT
Madras on March 30 and 31, 2024.
● The '6th Shaastra Rapid FIDE Rated Chess Tournament’ will witness the participation of six
Grandmasters, sixteen International Masters, three Women Grandmasters and a Women
International Master.
● The total prize fund of the tournament is ₹5,00,000 with the first prize being ₹65,000.
Sreejesh and Camila Caram were appointed as co-chairs in the FIH Athletes Committee
● Former Indian men’s hockey team captain and its goalkeeper goalkeepers PR
Sreejesh and Camila Caram of Chile have been appointed by the International Hockey
.
Federation (FIH) as co-chairs of the FIH Athletes Committee.

● President Dilip Tirkey of Hockey India welcomed the appointment of PR Sreejesh.
OBITUARIES
Creator of 'Dragon Ball' Series and Renowned Anime Artist, Akira Toriyama, Passed Away
• Akira Toriyama, the creator of the widely popular "Dragon Ball" comics and anime, has passed
away at the age of 68.
• Akira Toriyama, born on April 5, 1955, was a renowned Japanese manga artist and character
designer.
Ex-Navy Chief Admiral Who Fought for Peoples' Rights, Laxminarayan Ramdas passed away
● Former Navy Chief Admiral (retired) Laxminarayan Ramdas passed away at the age of 90.
● Ramdas was born on September 5, 1933 in Matunga, Mumbai.
● He served as the 13th Chief of Naval Staff (CNS) between December 1990 and September
1993.
Tribal Leader Lama Lobzang Passed Away

● Former member of the National Commission for Scheduled Castes and Scheduled Tribes and
Prominent Buddhist Monk of Ladakh popularly known as Lama Lobzang passed away in New
Delhi at the age of 94.
About National Commission for Scheduled Castes :
● Chairman : Kishor Makwana
● The National Commission for Scheduled Castes is an Indian constitutional body under the
jurisdiction of the Ministry of Social Justice and Empowerment, Government of India.
● Article 338 of the Indian constitution deals with the National Commission for Scheduled Castes.
● Article 338 A deals with the National Commission for Scheduled tribes.
Renowned Rabindra Sangeet Singer Sadi Mohammad Passed Away

● In Bangladesh, legendary Rabindra Sangeet singer and composer Sadi Mohammad passed
● In 2017, Mohammad was honoured with the Lifetime Achievement Award by Channel i.
.
● He received the Rabindra Award from the Bangla Academy in 2025.
Former Pakistan Test captain Saeed Ahmed passes away

● Saeed Ahmed, the former Pakistan Test captain and a dashing batsman of his time, passed
● His last Test match was during Pakistan's tour of Australia in 1972-73, played in Melbourne.
● Throughout his Test career, he played 41 matches, accumulating 2,991 runs, including five
centuries and 16 half-centuries.
● He was Pakistan's sixth Test captain and replaced Muhammad as skipper of the side during
England's tour of Pakistan in 1969.
Former Pakistan Cricket Board Chairman and Diplomat Shaharyar Khan, Born in Bhopal, Passed Away
● Shaharyar Khan, a career diplomat and former Pakistan Cricket Board (PCB) chairman who
played a big role in restoring cricket ties with India in the early 2000s passed away at the age of
89.
● Born in Bhopal, Shaharyar Khan was a career diplomat and a cousin of former Indian cricket
captain, Mansur Ali Khan Pataudi.
Chief of Ramakrishna Mission, Swami Smaranananda Maharaj, Passed Away

● Swami Smaranananda Maharaj, president of Ramakrishna Math and Ramakrishna Mission,
Passed away at the age of 95 in Kolkata.
● He was born in 1929 in Thanjavur in Tamil Nadu.
● He was elected as the 16th President of Ramakrishna Math and Ramakrishna Mission during a
meeting of the Math's Board of Trustees and the Mission's Governing Body on July 17, 2017.
Nobel Prize-Winning Behavioral Economist Daniel Kahneman, Pioneer in His Field Passed away
● Daniel Kahneman, an Israeli-American psychologist who broke ground in the field of behavioural
economics and upended the common assumption in economics that human beings are rational
decision-makers, died at the age of 90.
● Kahneman was born in Tel Aviv, Mandatory Palestine (now Israel), on March 5, 1934.
● He is also known for his work in behavioural economics, for which he was awarded the 2002
Nobel Memorial Prize in Economic Sciences (shared with Vernon L. Smith)
.
● In 2013, former US president Barack Obama awarded Kahneman with the Presidential Medal of
Freedom, the country’s highest civilian honour
● His latest book, “Noise”, focused on the unwanted variability, as opposed to bias, in judgments
that should be identical.
Nottingham Forest Legend Larry Lloyd, Twice European Cup Winner Passed away
● Larry Lloyd, twice a European Cup winner with Nottingham Forest, has passed away at the age
of 75.
● His career with local side Bristol Rovers before being signed by legendary Liverpool manager Bill
Shankly for £50,000 in 1969.
● He also won the First Division title and Uefa Cup with Liverpool, was a key player in the Forest
side which won the European Cup in 1979 and 1980 under manager Brian Clough.
● He won four England caps and later managed Wigan and Notts County after the end of a trophy-
laden career as a player.
.
Important Monthly Current Affairs Capsule – April 2024
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3. NATIONAL NEWS 77
5. STATE NEWS 103
6. BUSINESS NEWS 105
14. SPORTS NEWS 190
16. OBITUARIES 201
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IMPORTANT DAYS
World Autism Awareness Day 2024: April 2
• World Autism Awareness Day is celebrated annually on April 2nd.
• This day marks the 17th anniversary since its inception, which was recognized by the United
Nations to promote awareness and advocacy for the rights of people with autism.
• Autism, also known as autism spectrum disorder (ASD), is a developmental disorder that causes
difficulties in social communication and interaction. People on the autism spectrum experience the
world differently, which can affect how they communicate, behave, learn, and process sensory
information.
• Since the first observation of World Autism Awareness Day in 2008, various events and activities
have been marked worldwide.
International Day for Mine Awareness 2024: April 4

• International Day for Mine Awareness 2024 is observed all over the world on April 4th, 2024.
• The theme for International Day for Mine Awareness & Assistance in Mine Action 2024 is
'Protecting Lives, Building Peace.'
• The history of International Mine Awareness Day can be traced back to 1980 when the
International Committee of the Red Cross (ICRC) first proposed the idea of a day to raise
awareness about the dangers of landmines.
• The ICRC's proposal was endorsed by the United Nations General Assembly in 1982, and the first
International Mine Awareness Day was held on 4 April 1983.
National Maritime Day 2024: April 5
• Every year, National Maritime Day in India is celebrated on the 5th of April.
• It is a day celebrated to show gratitude to the men who spent many months in the sea, carrying out
the bulk of India’s trade and commerce at a global level.
• The 2024 World Maritime Day theme is "Navigating the future: safety first!"
• In 1964, on April 5, the first National Maritime Day was observed.
World Health Day 2024: April 7

• World Health Day 2024 is observed worldwide on 7th April.
• The theme for World Health Day 2024 is 'My health, my right’.
• On April 7, 1948 the constitution of the World Health Organisation came into being.
• The World Health Assembly (WHA) was formed to oversee the work for the WHO.
.
Ugadi 2024: Telugu New Year- April 9

• Ugadi or Yugadi is grandly celebrated as the first day of the year by the people of Telangana,
Andhra Pradesh, and Karnataka.
• Ugadi, also known as Telugu New Year, is celebrated on the first day of Chaitra.
• It is an important day in most Hindu calendars that are based on lunisolar calendars, and it is
also known as Vikram Samvat and Bhartiya Nava Varsha.
World Homeopathy Day 2024: April 10, 2024
• World Homeopathy Day 2024 is celebrated on the 10th of April every year.
• The day is celebrated to spread knowledge of homeopathy medicine in public health.
• The World Homeopathy Day tribute to the father and founder of the Homeopathy system in
medicine Dr.Christian Samuel Hahnemann.
• The day is observed on the occasion of the birth anniversary of German physician Dr Christian
Friedrich Samuel Hahnemann, the founder of homoeopathy.
• Born in Paris on April 10, 1755, Hahnemann was an acclaimed scientist, great scholar, and
linguist.
National Pet Day 2024: April 11

• Every year April 11th is celebrated as National Pet Day.
• It is a day to celebrate the joy that pets bring into our lives and to raise awareness about the
importance of animal welfare.
• The day was first launched in 2006 by Colleen Paige, an animal welfare campaigner.
National Safe Motherhood Day 2024: April 11

• Every year on April 11 India celebrates National Safe Motherhood Day.
• National Safe Motherhood Day (NSMD) is observed on the birth anniversary of Kasturba Gandhi.
• The National Safe Motherhood Day was first proposed by (WRAI) White Ribbon Alliance.
• In 2003, the Government of India declared 11 April as National Safe Motherhood Day, upon the
request of WRAI.
Jallianwala Bagh Massacre 2024: April 13

• Every year April 13th is observed as Jallianwala Bagh Massacre.
.
• Jallianwalla also called as Massacre of Amritsar incident on April 13, 1919, in which British troops
fired on a large crowd of unarmed Indians in an open space known as the Jallianwala Bagh
Massacre in the Punjab region of India.
• Jallianwala Bagh is a historic garden and memorial of national importance close to the Golden
Temple complex in Amritsar, Punjab, India, preserved in the memory of those wounded and killed
in the Jallianwala Bagh Massacre that took place on the site on the festival of Baisakhi Day, 13
April 1919.
World Haemophilia Day 2024: April 17

● World Haemophilia Day is celebrated on April 17th every year.
● This day is recognized worldwide to increase awareness of haemophilia and other inherited
bleeding disorders.
● The World Federation of Haemophilia established World Haemophilia Day in 1989.
● The date of April 17 was chosen to commemorate the birthday of the World Federation of
Haemophilia's founder, Frank Schnabel.
World Heritage Day 2024: April 18
● Every year, April 18th is celebrated as World Heritage Day or International Day for monuments
and sites.
● The International Council on Monuments and Sites 1982 suggested that April 18 should be
celebrated as World Heritage Day.
● The United Nations Educational, Scientific and Cultural Organization in its 22nd general
conference in 1983 approved the date.
National Civil Service Day 2024: April 21
● Every year April 21st is celebrated as National Civil Service Day.
● The National Civil Service Day is known as the spine of the administration of the country.
● After India became independent, the first batch of civil servants of the country was addressed by
Sardar Vallabh Bhai Patel.
● In 1947, Sardar Vallabh Bhai Patel announced that National Civil Service Day would be observed
every year to honour the contributions of the civil servants for the country.
● In Vigyan Bhavan, on April 21, 2006. The first National Civil Services Day was observed.
World Earth Day 2024: April 22
● The annual event of World Earth Day falls on April 22.
.
● The theme for World Earth Day 2024 is Planet vs Plastics.

● The origin of Earth Day can be traced back to 1970.
● The idea behind the event originated from Gaylord Nelson, a US senator, and Denis Hayes, a
Harvard student.
● In 1995 Nelson the man behind the Earth Day movement was awarded the Presidential Medal of
Freedom.
World Book and Copyright Day 2024: April 23
● Every year World Book and Copyright Day is celebrated on April 23 and it is also known as World
Book Day.
● The day is celebrated by the United Nations, Educational, Scientific, and Cultural Organizations, and
other related organisations across the world to honour authors, and books, and to promote the art of
reading etc.
● In 1995, this date was finalised by the United Nations, Educational, Scientific and Cultural
Organizations general conference, held in pairs, to pay tribute to and honour authors and books
worldwide.
● The idea to celebrate a day of books came originally from the Catalan Day of Books called Dia del
Llibere.
● Dia del Llibere is celebrated in Catalonia every year on April 23.
English Language Day 2024: April 23

● Every year April 23rd is celebrated as UN English Language Day.
● The day was chosen because it is considered William Shakespeare's birthday and the anniversary of
his death.
● The English Language Day is celebrated as a mark of respect and to celebrate the life and work of
English poet and writer William Shakespeare.
● He was born on 23rd April 1564 and died on 23rd April 1616.
NRL celebrated the 32nd Foundation Day
● Numaligarh Refinery Limited celebrated its 23rd Foundation Day on April 22.
● It was on this day that the company was established in 1993 in fulfilment of the commitment made in
the historic Assam Accord of 1985.
● NRL Day was celebrated with enthusiasm in all company locations where employees got together to
observe this special day.
.
National Panchayati Raj Day 2024: April 24

● In India, 24th April is designated as National Panchayati Raj Day.
● The day is held to remember the passing of the 73rd Amendment to the Constitution on June 17,
1992, and on April 24, 1993, the law went into force.
● In the early 1950s, the first National Development Council recommended the formation of a
democratic system of governance at the grassroots level.
World Malaria Day 2024: April 25
● World Malaria Day is observed on April 25 all over the world.
● World Malaria Day will reinforce the Global Fund Investment (GFI) using the themes of advancing
quality, building resilience, and ending malaria.
● World Malaria Day was established in May 2007 during the 60th session of the World Health
Assembly, which is the decision-making body of the WHO.
● Before the creation of World Malaria Day, Africa Malaria Day was observed on April 25 starting in
2001, after the signing of the Abuja Declaration by 44 malaria-endemic countries at the African
Summit on Malaria.
World Intellectual Property Day 2024: April 26

● Every year April 26 is celebrated as World Intellectual Property Day to learn about the role that
intellectual property rights play in encouraging innovation and creativity.
● Theme: “IP and the SDGs: Building Our Common Future with Innovation and Creativity.”
● In 1883, the Paris Convention for the Protection of Industrial Property was signed which further
established protection for intellectual properties.
● This was aimed to protect inventions, trademarks, and industrial designs.
● In 1970, the Convention establishing the World Intellectual Property Organization came to be known
as WIPO.
World Day for Safety and Health at Work 2024: April 28
● Every year, April 28th is celebrated as World Day for Safety and Health at Work all over the world.
● World Day for Safety and Health at Work Day is observed to promote the prevention of occupational
accidents and diseases globally.
● On April 29, 1971, the International Labour Organisation adopted the Occupational Safety and
Health Convention.
● In 2003, the International Labour Organisation announced that April 28 will be observed as World
.
Day for Safety and Health at Work.
International Dance Day 2024: April 29

● Every year April 29th is celebrated as International Dance Day also known as World Dance Day.
● International Dance Day or World Dance Day celebration for those who can see the value and
importance of dance.
● It was established by the Dance Committee of the International Theatre Institute (ITI), UNESCO's
main partner for the performing arts.
● The date was chosen to commemorate the birthday of Jean-Georges Noverre, a French dancer and
ballet master often credited as the creator of modern ballet.
● The first International Day of Dance was celebrated in 1982.
Ayushman Bharat Diwas 2024: April 30
● In India, Ayushman Bharat Diwas is observed on April 30.
● The Ayushman Bharat Diwas is observed to uplift the ideals of the Ayushman Bharat Yojana.
● The scheme of the Ayushman Bharat Diwas reflects the fulfilment of the objectives of the Indian
government that align with the Sustainable Development Goals under the United Nations.
● The scheme was announced by Prime Minister Narendra Modi in 2018.

● It has two main pillars:
● Ayushman Bharat Health and Wellness Centres (AB-HWCs): These centres aim to bring primary
healthcare services closer to people's homes, offering preventive, promotive, and curative care.
● Pradhan Mantri Jan Arogya Yojana (PM-JAY): This is a health insurance scheme that provides
cashless and affordable medical cover of up to Rs. 5 lakh per year to economically disadvantaged
families.
BANKING AND ECONOMY

Reserve Bank of India Delays Implementation of Rules on Exchange-Traded Forex Derivatives to May
3rd, 2024
• The Reserve Bank of India (RBI) has postponed the implementation of norms on exchange-traded
currency derivatives (ETCDs) linked to the Indian rupee until May 3, 2024, in response to investor
concerns.
• The norms were scheduled to take effect starting from April 05, 2024.
.
• Requirement for Underlying Exposure: Rupee-denominated currency contracts traded on the

National Stock Exchange (NSE) and the BSE now require underlying exposure.
• Though traders are not required to provide evidence of underlying exposure for positions up to
$100 million, they must confirm the existence of such exposure.
About RBI :
Zimbabwe Introduces New Gold-Backed Currency: ZiG
• Zimbabwe has launched a new gold-backed currency called ZiG, short for "Zimbabwe Gold", to
stabilize its economy.
• This introduction marks the latest attempt by Zimbabwe to bring stability to its economy, which has
faced significant challenges over the past 25 years.
• Market-Determined Exchange Rate : The central bank governor, John Mushayavanhu, announced
that the ZiG would be structured and set at a market-determined exchange rate, aiming to bring
transparency to currency valuation.
About Zimbabwe :
• President : Emmerson Mnangagwa
• Capital : Harare
Reserve Bank of India Permits Small Finance Banks to Utilize Approved Rupee Interest Derivative
Products
• The Reserve Bank of India (RBI) has announced its decision to permit Small Finance Banks
(SFBs) to utilize permissible rupee interest derivative products.
• As per the current establishment, the SFBs are permitted to use only Interest Rate Futures (IRFs)
for proprietary hedging.
• An interest rate derivative is a financial instrument with a value that is linked to the movements of
an interest rate or rates.
• These may include futures, options, or swaps contracts.
Reserve Bank of India Introduces Cash Deposit Facility through Unified Payments Interface
.
• The Reserve Bank of India (RBI) has proposed allowing cash deposit facility at Cash Deposit
Machines (CDMs) through Unified Payments Interface (UPI), which is currently accessible only
through the use of debit cards.
• This announcement came during the unveiling of the first monetary policy statement for the fiscal
year 2024-25.
• Reason for the Initiative: This initiative is driven by the widespread popularity and acceptance of
UPI, along with the observed benefits from the availability of UPI for card-less cash withdrawal at
automatic teller machines (ATMs).
Small Industries Development Bank of India Collaborates with Fintech Onion Life Private Limited for
Pilot Project Offering Micro Loans to Gig Workers Using KarmaLife Platform
• Small Industries Development Bank of India (SIDBI) has agreed with a fintech Onion Life Private
Limited to use the latter’s technology platform KarmaLife for a pilot to provide micro loans to gig
workers.
• This is expected to support the gig workers’ financial inclusion to formal institutional credit.
• KarmaLife will help gig workers access micro-loans through a mobile app and eliminate the hassle
of extensive paperwork or physical documentation.
About SIDBI :
• Chairman & MD : Sivasubramanian Ramann
Reserve Bank of India Permits Foreign Investors in International Financial Services Centre to Access
Sovereign Green Bonds
• The Reserve Bank of India (RBI) has decided to allow eligible foreign investors in the International
Financial Services Centre (IFSC) to invest in Sovereign Green Bonds (SGrBs), aiming to broaden
non-resident participation in these bonds.
.
• Presently, foreign portfolio investors (FPIs) registered with the Securities and Exchange Board of
India (SEBI) are permitted to invest in SGrBs through various routes available for investment in
government securities.
• Separate Scheme Notification: A separate scheme for investment and trading in SGrBs by eligible
foreign investors in IFSC will be notified in consultation with the Government and the IFSC
Authority.
Reserve Bank of India Permits Third-Party Apps for Unified Payments Interface Payments via Prepaid
Payment Instruments Wallets
• The Reserve Bank of India (RBI) has proposed allowing the linking of Prepaid Payment
Instruments (PPIs) through third-party Unified Payments Interface (UPI) applications, enhancing
flexibility for Prepaid Payment Instruments (PPI) wallet holders to make UPI payments.
• Current UPI Payment System:At present, UPI payments from bank accounts can be made only by
linking a bank account through the UPI application of the bank or using any third-party UPI
application.
Reserve Bank of India to Enhance Liquidity Coverage Ratio Framework for Improved Liquidity Risk
Management by Banks
• The Reserve Bank of India (RBI) is planning to make certain modifications to the Liquidity
Coverage Ratio (LCR) framework to facilitate better management of liquidity risk by banks.
• Objective of LCR Framework: Banks covered under the LCR framework are mandated to maintain
a reserve of high-quality liquid assets (HQLA) to cover their net outflows for a period of 30 days
under stressed conditions.
• LCR Requirement: Since January 1, 2019, banks are required to maintain an LCR of 100%,
ensuring they have sufficient liquid assets to meet their obligations.
Reserve Bank of India to Introduce Central Bank Digital Currency-Retail Accessible to Non-Bank
Payment Operators
• The Reserve Bank of India (RBI) has proposed allowing non-bank payment system operators
(PSOs) to offer CBDC (Central Bank Digital Currency) wallets in order to make CBDC-R (Retail)
more accessible to a broader segment of users.
.
• Enhanced Access and Choices: This is expected to enhance access and expand choices available
to users apart from testing the resiliency of the CBDC platform to handle multi-channel
transactions.
• Additional Functionalities Proposed : During the (Monetary Policy Committee) MPC meeting in
February 2024, RBI had proposed to enable additional functionalities of programmability and offline
capability in CBDC retail payments.
Reserve Bank of India Developing Mobile App for Retail Direct Portal to Enhance Retail Investors'
Access to Government Securities Market
• The Reserve Bank of India (RBI) announced that a mobile application of the Retail Direct portal is
being developed to improve further ease of access by retail investors to the government securities
market.
• The app will enable investors to buy and sell instruments/government securities (Government
Dated Securities, State Development Loans, Treasury Bills and Sovereign Gold Bonds,) on the go,
at their convenience.
• RBI Retail Direct Scheme, launched in November 2021, gives access to individual investors to
maintain gilt accounts with RBI and invest in government securities.
Reserve Bank of India Slaps Monetary Penalty on IDFC First Bank and LIC Housing Finance
• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on IDFC First
Bank Limited for non-compliance with certain directions issued by the central bank on ‘Loans and
Advances – Statutory and Other Restrictions’.
• This penalty has been imposed in the exercise of powers vested in RBI conferred under the
provisions of section 47 of the Banking Regulation Act, 1949.
• In Another regulatory action, RBI imposed a monetary penalty of Rs 49.70 lakh on LIC Housing
Finance Limited for non-compliance with certain provisions of Fair Practices Code.
• This penalty has been imposed in exercise of powers vested in RBI conferred under section 52A of
the National Housing Bank Act, 1987.
• CEO: V. Vaidyanathan
.
institution.
About LIC Housing Finance Ltd :
• Founded : 19 June 1989
• MD & CEO : Tribhuwan Adhikary
• LIC HFL is a subsidiary company of LIC.
Income Tax Department Issues Demands of Rs. 770 Crores to Indian Overseas Bank, Tamilnad
Mercantile Bank and Karur Vysya Bank
• The Income Tax (I-T) Department has slapped Tamilnad Mercantile Bank (TMB), Karur Vysya
Bank (KVB) and Indian Overseas Bank (IOB) with demand notices for ₹770 crores for the
assessment year 2022-23 on account of certain additions and disallowances.
• Indian Overseas Bank (IOB) received a demand notice of ₹620 crore due to certain additions and
disallowances, discovered on March 28, 2024.
• IOB is preparing to file an appeal before the Commissioner of Income Tax (Appeals), National
Faceless Appeal Centre (NFAC), within the stipulated time frame.
• There is a demand of ₹110 crore on IOB for certain additions and disallowances, with this
information received on March 30, 2024.
• Karur Vysya Bank (KVB) received a demand notice for ₹40 crore.
About the Income Tax Department :
• Chairman of Central Board of Direct Taxes : Nitin Gupta
• The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a
government agency undertaking direct tax collection of the government of India.
• It functions under the Department of Revenue of the Ministry of Finance.
• It is headed by the apex body Central Board of Direct Taxes (CBDT).
• The main responsibility of the Income Tax Department is to enforce various direct tax laws, most
important among these being the Income-tax Act, 1961, to collect revenue for the government of
India.
.
About TMB :
• Founded : 1921 as the Nadar Bank, but changed its name to Tamilnad Mercantile Bank in
November 1962
• Headquarters : Thoothukudi, Tamil Nadu, India
• Tagline : Be a step ahead of Life
About IOB :
• Tagline : Good people to grow with
About KVB :
• Founded : 1916
• Headquarters : Karur, Tamil Nadu
• MD & CEO : B. Ramesh Babu
• Tagline : Smart Way to Bank
36.91 Million New Demat Accounts Opened in Fiscal Year 2024

• Nearly 3.7 crore (36.91 million ) demat accounts were added in the fiscal year 2024, marking the
largest increase ever, averaging over 30 lakh accounts a month, driven by a rally in the market.
• The number of Demat accounts opened with two depositories the Central Depository Services
(CDSL) and the National Securities Depository (NSDL) jumped 11.9% year-on-year, to 15.14 crore
from 11.45 crore.
• At the same time, the benchmark Sensex and Nifty50 jumped 24.85 percent and 28.61% in FY24,
while the broader BSE Midcap and Smallcap indices jumped 63.4% and 60%.
• The number of Rs 1-trillion market capitalization stocks increased to 80 from 48 in the previous
fiscal year.
Canara Bank Introduces Range of New Products and Services to Improve Customer Experience and
Banking Efficiency
• Canara Bank, a Public Sector Bank has unveiled a series of new products and services aimed at
enhancing customer experience and streamlining banking operations.
.
• The bank is launching a healthcare-focused loan product Canara Heal, to meet the shortfall of
hospitalization expenditure while settling through Third Party Administrator (TPA) healthcare
insurance claims of self and/or dependents.
• A customized savings account for women -Canara Angel , with features like Cancer Care policy,
pre-approved personal loan Canara ReadyCash and online loan against term deposit product
Canara MyMoney.
About Canara Bank :
• Headquarters : Bengaluru, Karnataka, India
• MD & CEO : K. Satyanarayana Raju
• Tagline : Together We Can
State Bank of India and Standard Chartered Engage in Credit Default Swap Trade Under New Reserve
Bank of India Norms
• The Credit Default Swap (CDS) trade between the State Bank of India (SBI) and Standard
Chartered Bank India is significant as it marks the first transaction of its kind following the issuance
of fresh guidelines by the Reserve Bank of India (RBI) regarding CDS instruments.
• The CDS trade was valued at ₹25 crore, indicating a substantial financial commitment from both
parties involved.
• The trade involved a 1-year rupee CDS featuring REC.
• Credit default swaps are derivative instruments that provide a form of insurance against the risk of
default of the issuer of a bond.
About SBI :
SEBI Introduces SCORES 2.0 to Improve Investor Complaint Resolution System
• The Capital markets regulator Securities and Exchange Board of India (SEBI) launched the new
version of the SEBI Complaint Redress System (SCORES 2.0).
.
• The new version of SCORES strengthens the investor complaint redress mechanism in the
securities market by making the process more efficient through auto-routing, auto-escalation,
monitoring by the designated bodies and reduction of timelines.
• Features of SCORES : SCORES is an online system where investors in the securities market can
lodge their complaints through web URL and an app.
• It was launched in June 2011.
About SEBI :
• Chairman : Madhabi Puri Buch (the first woman to lead the SEBI)
PhonePe Users Gain Ability to Utilise UPI for Payments in Singapore
• PhonePe, a fintech firm, has collaborated with The Singapore Tourism Board (STB) to enable its
users to make payments through the Unified Payments Interface (UPI) in Singapore.
• The collaboration aims to enhance the payment experience for Indian visitors in Singapore by
leveraging UPI technology.
• Cross-border Transactions:The partnership builds upon the existing UPI linkage between India and
Singapore, enabling customers to make instant cross-border transactions directly from their
existing Indian bank accounts.
About Phonepe :
• Founded : 2015
• Founder & CEO : Sameer Nigam
Banks' Tier-1 Capital Raise Drops by nearly 50% to Rs 17,516 Crore in 2023-24
• With a strong capital adequacy base and higher interest rates, the activity of raising debt capital --
tier I and tier II bonds by banks declined sharply in Financial Year 2023-24.
• Banks raised about Rs 17, 516 crore through the additional tier I (AT1) bonds in Fy24, which was
49.8% less than the amount raised in Fy23.
.
• State Bank of India (SBI) raised Rs 8,101 crore through AT1 bonds in FY24.
• Other significant issuers of AT1 bonds included two public sector lenders, Punjab National Bank
(PNB) and Canara Bank.
Banks Expected to Experience Slight Downturn in Credit Growth to Approximately 14-15% in Fiscal
Year 2025
• Credit rating agencies expect banks’ credit growth to slow a mite to about 14-15% in Fiscal Year
2025 (FY25) against the estimated 16% in FY24 amid elevated lending rates and global
headwinds.
• Factors Influencing Credit Growth:Elevated lending rates and global headwinds are cited as
factors contributing to the expected slowdown in credit growth.
• The moderation in economic growth is also expected to impact credit growth rates.
Foreign Portfolio Investors (FPIs) Witness Surge in Net Investments in Debt Market, Reaching $14.58
Billion in FY 2024
• Foreign Portfolio Investors' (FPI) net investments in the debt market surged to $14.58 billion in FY
2024, marking the highest net inflow in the past 6 years.
• The surge in investments was fueled by bullish investor sentiment following announcements to
include Indian government securities in global indices.
• Over 70% of the inflows occurred in the last 5 months of the fiscal year, particularly after JP
Morgan Chase's announcement in September to add Indian government bonds to its benchmark
Global Bond Index Emerging Markets Index.
Non-Banking Financial Company Loan Sanctions Decline by Approximately ₹19,000 Crore in Q3
• The Reserve Bank of India’s (RBI) measures to curb bank finances in some segments of Non-
Banking Financial Companies (NBFCs) appear to have slowed down growth for finance
companies.
• Loans sanctioned by NBFCs fell from Rs 4.47 lakh crore in Q2 FY23 to Rs 4.28 lakh crore in Q3
FY24 - a decline of 4.2% quarter-on-quarter. Compared to the year-ago period, loans fell 5.8%.
• The decline was primarily attributed to long-term loans, which fell by 40% or Rs 10,365 crore to Rs
15,500 crore.
AU Small Finance Bank Completes First-Ever Merger Among Small Finance Banks by Acquiring
Fincare Small Finance Bank
.
• AU Small Finance Bank (AU SFB) finalised the acquisition of Fincare Small Finance Bank on April
1, 2024, marking the first merger among small finance banks.
• The merger aims to strengthen AU SFB's pan-India retail banking franchise by leveraging
complementary geographic footprints, diverse customer segments, expanded product offerings
and enhanced digital capabilities.
• Leadership Changes:Rajeev Yadav, former MD and CEO of Fincare SFB, assumes the role of
Deputy CEO at AU SFB and will lead all key asset businesses previously under Fincare SFB.
About AU Small Finance Bank :
• Headquarters : Jaipur, Rajasthan, India
• MD & CEO : Sanjay Agarwal
About Fincare Small Finance Bank :
• Headquarters : Bengaluru, Karnataka
• MD & CEO : Rajeev Yadav
Comprehensive Guidelines on Housing Finance: Master Circular

• The Master circular on Housing Finance is to consolidate the framework of rules/ regulations and
clarification on Housing Finance issued to banks by the Reserve Bank of India (RBI) from time to
time.
• Statutory Directive:A statutory directive issued by the Reserve Bank in the exercise of the powers
conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949.
• Applicability:The circular applies to all Scheduled Commercial Banks, excluding Regional Rural
Banks.
Comprehensive Guidelines on Housing Finance for Urban Co-operative Banks: Master Circular
• The role of primary (urban) co-operative banks (UCBs) in providing housing finance has been
reviewed from time to time.
• These banks, with their vast network, occupy a very strategic position in the financial system and
have an important role to play in providing credit to the housing sector.
• Lending Flexibility:UCBs, based on their commercial judgment and other prudential business
considerations, with the approval of their Board of Directors, are free to identify the eligible
.
borrowers, decide margins and grant housing loans depending upon the repaying capacity of
borrowers.
• Loan Limits:Tier-1 UCBs can extend individual housing loans up to a maximum of ₹60 lakh per
borrower, while UCBs categorized in Tier-2 to Tier-4 can extend loans up to ₹140 lakh per
borrower, subject to prudential exposure limits.
RBI Fines 64 Lenders a Total of ₹74 Crores on Amid Increased Supervision in FY24
• The Reserve Bank of India (RBI) imposed a monetary penalty on 64 banks and Nonbank financial
companies (NBFCs) during the financial year, for a cumulative amount of ₹74.1 crore.
• In comparison, 41 lenders had been fined for a total amount of ₹33.1 crore in FY23.
• The data excludes cooperative banks and regional rural banks.
• Monetary penalties: Out of the penalties, 35 regulatory actions were imposed on banks, including
16 PSU banks, 13 private banks, 4 foreign banks, and one small finance bank and payments bank
each.
In FY24, Annual Unified Payment Interface Transactions surpassed 100 Billion Mark for the First Time
• The Unified Payment Interface (UPI) transactions in India posted a record 57% rise in volume and
44% rise in value in Financial Year 2023-24, compared to the previous financial year.
• In March 2024 too, the transactions saw a 55% rise in volume to 13.44 billion and 40% in value to
Rs 19.78 trillion compared to March 2023.
• This was the first time that UPI transactions crossed 100 billion and closed at 131 billion in a
financial year, compared to 84 billion in 2022-23.
• The year also saw a record value touching Rs 199.89 trillion, compared to Rs 139.1 trillion.
About UPI :
mobile application.
After 3-Year break, RBI Reintroduces Multiple Price Auctions for Government Bonds
.
• The Reserve Bank of India (RBI) has shifted its methodology for conducting auctions of
government securities under the market borrowing program of the Government of India from
uniform pricing to multiple price auctions.
• This change comes after nearly 3 years, indicating a departure from the previous uniform pricing
method.
• Reasons for Change: The decision to switch methodologies is influenced by expectations of robust
demand for government bonds due to various factors, such as inclusion in JP Morgan’s Emerging
Market Bond Index and expectations of rate cuts.
About RBI :
Reserve Bank of India's Liberalised Remittance Scheme Witness 27% Surge in Outward Remittances
from April 2023 to January 2024
• Outward remittances under the Reserve Bank of India’s (RBI’s) Liberalised Remittance Scheme
(LRS) in the April-January period of financial year 2023-24 (FY24) increased 24 per cent year-on-
year to $27.42 billion.
• In January 2024, overseas remittances amounted to $2.62 billion, indicating a nearly 9% increase
from $2.40 billion in December 2023.
• In the April 2023-January 2024 period of FY24, the international travel segment rose to $14.95
billion, 30.67 per cent up from $11.44 billion in the year-ago period.
Reserve Bank of India Considers Establishing Digital India Trust Agency to Combat Illegal Lending
Apps
• As a part of its efforts to curb growing cyber fraud, the Reserve Bank of India (RBI) is considering
establishing a Digital India Trust Agency (DIGITA) to stop the mushrooming of illegal lending apps.
• Role and Responsibilities of DIGITA:DIGITA would be responsible for verifying digital lending apps
and maintaining a public register of verified apps.
• Apps lacking the 'verified' signature of DIGITA would be considered unauthorized for law
enforcement purposes.
.
• Objective of Verification Process:The verification process aims to enhance transparency and

accountability within the digital lending sector, which has witnessed a surge in fraudulent activities.
About RBI :
Kotak Mahindra Bank Leads in Equity Offerings Ranking

• Kotak Mahindra Bank (KMB) topped the league table of equity offerings, with the private lender
being the manager to 43 issues in FY24, a year when companies raised about ₹2.9 trillion through
a total of 400 issuances.
• KMB topped the table with ₹31,655 crore in value terms and a 10.89% market
share.
• Citibank came in 2nd with 18 IPOs with Rs 31,467 crore in value terms and a 10.82% market
share.
• BofA Securities holds the 3rd spot with 14 issues and a market share of 8.87%.
• JP Morgan with a 7.82% market share of the total IPOs came in fourth, with IIFL Finance (6.13%),
ICICI (6.09%), JM Financial (6.07%), Morgan Stanley (5.75%) and Goldman Sachs (5.34%) being
the others in the top 10.
Securities and Exchange Board of India Likely to Provide Clarity on Currency Derivatives
• The Securities and Exchange Board of India (SEBI) is expected to provide clarity on exchange-
traded currency derivatives (ETCD) following a central bank circular that caused panic due to
limitations on their use for hedging purposes.
• The Reserve Bank of India (RBI) issued a circular on 5 January, limiting exposure to $100 million
across all contracts involving the rupee, without any existing underlying exposure.
• Expected Clarificatory Circular:SEBI is examining representations from broker associations, and a
clarificatory circular from either SEBI or stock exchanges is anticipated as early as Monday.
About SEBI :
.

Competition Commission of India Greenlights Axis Bank's Acquisition of ₹1,612 Crore Stake in Max Life
Insurance
• The Competition Commission of India (CCI) has approved the transaction involving Axis Bank’s
additional 6% stake buy in Max Life Insurance, a private life insurer.
• The deal, valued at ₹1,612 crore, received an IRDAI nod in February 2024.
• Background of Capital Infusion : In August 2023, Axis Bank announced a capital infusion into Max
Life Insurance by issuing 14.25 crore equity shares.
• The purpose of the capital infusion was to support Max Life's future growth ambitions, enhance its
capital position, and improve solvency margins.
• This resulted in Axis Bank's direct stake in Max Life increasing to 16.22%, with the collective stake
of Axis Entities rising to 19.02%.
About CCI :
• Established : 14 October 2003
• Chairman : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Mutual Funds' Equity Purchases Reach Record High of Rs 45,120 Crore in March 2024
• Domestic mutual funds (MFs) injected a record Rs 45,120 crore into domestic stocks in March
2024 marking their highest-ever buying in a month.
• This surge in domestic fund inflows occurred amid a selloff in small-cap and mid-cap stocks, as
well as the execution of large block trades in blue-chip companies.
• The March 2024 deployment by domestic mutual funds was more than 3 times the buying seen in
the previous month.
.
• The previous record for monthly inflows from domestic MFs was set during the unprecedented
COVID-19 selloff in March 2020, when they invested nearly Rs 30,300 crore.
World Bank Revises India's Growth Forecast for FY25 to 6.6%; Estimates FY24 GDP Growth at 7.5%
• The World Bank has upgraded its economic growth forecast for India for the fiscal year 2024-25
(FY25) by 20 basis points to 6.6%.
• This revision is primarily attributed to upward revisions to investment growth in the country.
• Comparison with FY24 GDP Growth:The projected growth rate for FY25 is notably lower than the
estimate of 7.5% real GDP growth for the current financial year (FY24).
• Despite the moderate forecast for FY25, the World Bank anticipates growth to accelerate in
subsequent years due to the positive impacts of robust public investment.
About World Bank :
• President : Ajay Banga (14th President)
• The World Bank Group consists of 5 institutions ie
• International Bank for Reconstruction and Development (IBRD)
• International Development Association (IDA)
• International Finance Corporation (IFC)
• Multilateral Investment Guarantee Agency (MIGA)
• International Centre for Settlement of Investment Disputes (ICSID)
City Union Bank Achieves Total Business Milestone Exceeding ₹1 Lakh Crore in FY24
• City Union Bank (CUB) has achieved a milestone in FY24 as the old private sector bank’s total
business crossed the ₹1 lakh crore mark for the first time.
• This milestone was reached in the bank's 120th year of operations, highlighting its longstanding
presence in the banking sector.
• Growth Trajectory:The bank's total business crossed the ₹50,000 crore mark in FY17 and
achieved the second ₹50,000 crore in just 7 years, indicating a rapid growth trajectory.
• Financial Performance:As of March 31, 2023, the bank's total business stood at ₹96,369 crore,
marking an increase from ₹88,846 crore recorded a year ago.
.
• In the December 2023 quarter, the bank's total business stood at ₹96,744 crore, and it reported a
profit after tax of Rs. 253 crore.
About City Union Bank :
• Founded : 1904
• Headquarters : Kumbakonam, Tamil Nadu
• MD & CEO : N Kamakodi
• Tagline : Trust and Excellence since 1904
• City Union Bank is bigger than Tamilnad Mercantile Bank in terms of business size but smaller
than Karur Vysya Bank.
Reserve Bank of India directs banks to step up hassle-free loans to Self Help Groups
• The Reserve Bank of India (RBI) directed all banks to provide adequate incentives to their
branches in financing the Self Help Groups (SHGs) and establish linkages with them, making the
procedures simple and easy.
• Accordingly, the guidelines should be adhered to enable effective linkage of SHGs with the
banking sector.
• Loan-related Charges Waiver : The circular specifies that no loan-related and ad hoc service
charges or inspection charges should be levied on priority sector loans up to 25,000.
• In the case of eligible priority sector loans to SHGs/ JLGs, this limit will be applicable per member
and not to the group as a whole.
• Priority Sector Lending (PSL) Classification : The RBI has also pointed out that loans to SHGs are
allowed to be classified under Priority Sector Lending (PSL) under the respective categories such
as Agriculture, MSME etc.
Magma HDI General Insurance and Suryoday Small Finance Bank Partner to Provide Health Insurance
to Commercial Vehicle Loan Customers
• Suryoday Small Finance Bank, small finance banks in India and Magma HDI General Insurance
Company, a prominent player in India’s general insurance sector have entered into a corporate
agency agreement to offer health insurance to Suryoday Bank’s Commercial Vehicle Loan
customers.
.
• This strategic collaboration aims to bridge the health insurance accessibility gap by leveraging
Suryoday Bank’s extensive reach across urban and rural regions.
• With this tie-up, Suryoday Bank Commercial Vehicle Loan customers will gain access to
customised health insurance solutions, aligning with the Bank’s commitment to social
inclusiveness.
About Magma HDI General Insurance :
• MD & CEO : Rajive Kumaraswami
About Suryoday Small Finance Bank Ltd :
• MD & CEO : Baskar Babu Ramachandran
• Incorporated in 2008, it's a leading Small Finance Bank(SFB) in India.
• The company started offering SFB services in 2017.
Finance Ministry: Income Tax Slabs Unchanged from April 1, 2024

• The Ministry of Finance (MoF) has confirmed that there are no changes in the new income tax
regime for individuals for the current fiscal year.
• Individual taxpayers have the option to opt out of this regime at the time of filing their Income Tax
Returns (ITR).
• Introduction of Modified Tax Regime: A modified new income tax regime was introduced on April
1, 2023, for individuals, featuring significantly lower tax rates compared to the old regime.
• Exemptions and Deductions Limitations: Under the new regime, various exemptions and
deductions, except for standard deductions such as ₹50,000 from salary and ₹15,000 from family
pension, are not available.
Axis Bank Launches Digital Opening of US Dollar Fixed Deposits for NRIs at GIFT City
• Axis Bank announced the introduction of digital US dollar fixed deposit (FD) for Non-Resident
Indian (NRI) customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat.
• Axis Bank is the first bank to provide a digital journey for GIFT City Deposits, enhancing
convenience for NRI customers.
.
• NRI customers of the bank can now open US dollar fixed deposits at GIFT City through 'Open by
Axis Bank'; the mobile banking application of the lender.
• The US Dollar fixed deposit also offers a wide range of investment tenures from 7 days up to 10
years.
About Axis Bank :
Mudra Loans Reach Record High, Exceeding ₹5 lakh-crore Mark in FY24

• According to the latest Government data, Small business loans under the Pradhan Mantri Mudra
Yojana (PMMY) witnessed record growth in disbursals in FY24 and also crossed the milestone of
₹5 lakh crore.
• Loans sanctioned in the last financial year were higher at ₹5.28 lakh crore.
• The total disbursals stood at ₹5.20 lakh in the year ended March 2024, as against ₹4.40 lakh
crore in the previous financial year.
• Nearly 70% of the beneficiaries of these loans are women.
Reserve Bank of India Declines 2 Additional Applications for Small Finance Banks Establishment
• The Reserve Bank of India (RBI) has rejected two more applications for setting up small finance
banks: Dvara Kshetriya Gramin Financial Services Private Limited and Tally Solutions Private
Limited.
• Dvara Kshetriya Gramin Financial Services applied for a small bank licence in April 2021 whereas
Tally Solutions had applied in August 2021.
• The RBI has so far received 13 applications to set up a universal or small finance bank as allowed
under the ‘on tap’ licensing guidelines for such banks.
Revolut Receives In-Principle Approval from Reserve Bank of India for Prepaid Payment Instruments
License
.
• Tiger Global and Softbank-backed neobank Revolut India has received an in-principle approval
from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPI), including
prepaid cards and wallets.
• This enables it to operate as a domestic player in the market.
• This approval builds upon the existing licences which Revolut India has successfully obtained from
RBI to operate as a Category-II Authorised Money Exchange Dealer (AD II) and to be able to
provide multi-currency forex cards and cross-border remittance services,
About Revolut :
• Headquarters : London, England, United Kingdom
• CEO of Revolut India : Paroma Chatterjee
• Revolut, a London-based neobank and financial technology company, has been gearing up for its
entry into India, working closely with the RBI over the past two years.
Reserve Bank of India and the Insurance Regulatory and Development Authority of India Mobilized to
Mitigate the Impact of the Red Sea Crisis on Indian Exports
• The Ministry of Finance (MoF) has reached out to regulatory bodies like the Reserve Bank of India
(RBI) and the Insurance Regulatory and Development Authority of India (IRDAI) to address
concerns regarding export credit availability and insurance premium increases.
• This proactive approach aims to support Indian exporters in navigating trade disruptions caused by
Houthi attacks on cargo ships in the Red Sea.
• In March 2024, the MoF sent a letter to the RBI, IRDAI, and the state-run export finance institution
Exim Bank, urging these entities to closely monitor and address the issues flagged by exporters to
the Ministry of Commerce and Industry regarding disruptions that could potentially drive up India's
export expenses.
About IRDAI :
.

in India.
Reserve Bank of India Rejects Odisha-based Annapurna Finance Limited's Application for Universal
Bank License
• The Reserve Bank of India (RBI), in a cautious move, declined Annapurna Finance Limited’s
application for a universal bank license made in January 2023.
• The RBI expressed caution and hesitation about awarding a full-service bank license to the
Odisha-based lender.
• Annapurna Finance Limited primarily focuses on microfinance loans, which raised concerns for the
regulator regarding the bank's capability to operate as a universal bank.
Securities and Exchange Board of India Approves Hinduja's Ownership of Reliance Wealth
• Hinduja Group-owned Asia Enterprises has received Securities and Exchange Board of India’s
(SEBI) approval for taking control of Reliance Wealth Management.
• The approvals were received under SEBI’s regulations governing investment advisers and portfolio
managers, respectively.
• The approvals come in the wake of the successful bid by IndusInd International Holdings, the
promoter entity of the 5th largest private sector bank in India - IndusInd Bank.
• IIHL emerged as the successful resolution applicant to acquire the beleaguered financial services
company – Reliance Capital, under the Corporate Insolvency Resolution Proceedings process of
Insolvency and Bankruptcy Code.
Reserve Bank of India Initiates Manufacturing Company Survey, Essential Input for Policy Formulation
• The Reserve Bank of India (RBI) has launched the next round of quarterly order books, inventories
and capacity utilisation surveys of manufacturing companies, a key input for the monetary policy
formulation.
• The 65th round of the survey covers the reference period of January-March 2024 (Q4: 2023-24).
• Survey History:The RBI has been conducting the order books, inventories, and Capacity Utilization
Survey (OBICUS) of the manufacturing sector on a quarterly basis since 2008.
Karnataka Bank Collaborates with FISDOM to Provide Stock Broking Services
.
• Karnataka Bank has partnered with FISDOM to offer 3-in-1 (savings, demat and trading accounts)
through the bank’s mobile banking app ‘KBL Mobile Plus’.
• This association is all set to enhance the current value proposition of enabling customers to invest
in stocks and mutual funds.
• This offering will empower the customers with seamless access to both investment opportunities
and trading functionalities, all within a single, user-friendly interface.
• The 3-in-1 facility enables customers to streamline their investment journey by consolidating their
demat and trading accounts.
About FISDOM :
• Chief Executive Officer and Co-Founder : Subramanya SV
• Headquarters : Mangalore, Karnataka, India
• MD & CEO : Srikrishnan Hari Hara Sarma
Reserve Bank of India Issues Alert List of Entities Prohibited from Forex Trading under Foreign
Exchange Management Act 1999
• The Reserve Bank of India (RBI) has released another 'Alert List' including the names of
organisations that are not permitted to trade in foreign exchange under the Foreign Exchange
Management Act (FEMA), 1999 or to conduct foreign exchange transactions through electronic
trading.
• The Alert List contains names of entities which are neither authorised to deal in forex under the
FEMA 1999 nor authorised to operate electronic trading platforms (ETP) for forex transactions
under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
Securities and Exchange Board of India Approves ₹5,000 Crore IPO for Aadhar Housing Finance,
Backed by Blackstone
• Aadhar Housing Finance Limited (AHFL), focused on low-income housing in India, has received
final observations from the Securities and Exchange Board of India (SEBI) for its proposed Initial
Public Offering (IPO).
• The company aims to raise approximately ₹5,000 crore through the IPO.
• AHFL had previously submitted draft papers in February 2024.
.
• However, in January 2021, it had submitted draft papers to SEBI, receiving approval in May 2022
for an IPO of slightly over ₹7,000 crore, which it decided not to proceed with.
Tata Mutual Fund Introduces 6 Sectoral and Thematic Index Funds

• Tata Mutual Fund has launched 6 thematic index funds focused on various sectors including
infrastructure, healthcare, realty, financial services, automobile, and manufacturing.
• The new fund offer (NFO) of these schemes is available for subscription till April 22, 2024.
• The minimum investment during the NFO period is ₹5,000.
ICRA Downgrades Banking Sector Outlook to Stable Due to Credit Growth Slowdown in FY25
• Domestic rating agency ICRA revised downwards its outlook for the banking sector to 'stable' from
'positive' on expectations of a moderation in credit growth and profitability.
• ICRA predicts that credit growth will moderate to 11.6-12.5% in FY25 from 16.3% (excluding the
HDFC twins merger impact) in FY24.
• This moderation is expected to impact profitability due to lower net interest income margins
resulting from higher deposit rate payouts.
ICRA:
• Headquarters: Gurgaon, Haryana
• ICRA: Investment Information and Credit Rating Agency.
• ICRA was set up in 1991 by leading financial/investment institutions, commercial banks and
financial services companies as an independent and professional investment Information and
Credit Rating Agency.
PhonePe Collaborates with eSewa and Hotel Association of Nepal Pokhara to Boost Unified Payments
Interface Service Adoption in Nepal
• Fintech firm PhonePe has partnered with Nepal's digital wallet service eSewa and the Hotel
Association of Nepal (HAN) Pokhara to promote digital payments through Unified Payments
Interface (UPI) on the Himalayan country's payment processor Fonepay Network.
• The partnership is a part of the Fewa New Year Festival which will be held from April 11-14, 2024
in Nepal.
• Over 3,000 merchants will participate in the festival with more than 1,00,000 visitors expected to
visit.
About Phonepe :
.
• Headquarters : Bengaluru, Karnataka, India.

• CEO : Sameer Nigam
• PhonePe is an Indian digital payments and financial services company.
HDFC Bank Becomes First Private Lender to Establish Branch on Kavaratti Island
• Largest private sector lender HDFC Bank inaugurated a branch in Lakshadweep's Kavaratti island.
• The bank becomes the first private sector lender to have a presence in Lakshadweep.
• The bank seeks to serve customers wherever they are and looks forward to serving the financial
needs of individuals, families, and businesses in Lakshadweep, the bank's retail branch banking .
• The branch inauguration ceremony was attended by Captain Lovekesh Thakur, Commanding
Officer of the Indian Navy, and K P Muthukoya, a prominent local resident, along with bank
officials.
About HDFC Bank :
National Investment and Infrastructure Fund Limited Injects $200 Million into iBUS to Expand Digital
Infrastructure
• The National Investment and Infrastructure Fund Limited. (NIIF) has invested $200 million in iBUS
Network and Infrastructure Private Limited., a connectivity technology firm, to support the growth of
India’s digital infrastructure.
• Utilization of Funds: The funds raised will be utilized for scaling iBUS’ operations through both
organic and inorganic growth initiatives.
About National Investment and Infrastructure Fund Limited :
• Founded : February 2015
• MD & CEO : Sanjiv Aggarwal
• The NIIFL is a Government-owned owned company which maintains infrastructure investments
funds for international and Indian investors anchored by the Government of India.
.
Computer Age Management Services Limited Receives Reserve Bank of India’s Approval to Function
as an Online Payment Aggregator
• Computer Age Management Services Limited (CAMS), India's largest mutual fund transfer agency,
has received authorization from the Reserve Bank of India (RBI) to operate as an online payment
aggregator.
• In-Principle Authorization: CAMS initially received an in-principle authorization from RBI in
February 2023, and the certificate of authorization was officially received on April 10, 2024.
About CAMS :
• Founded : 1988
• CEO : Anuj Kumar
• The CAMS is a mutual fund transfer agency serving Indian asset management companies.
Kotak Alternate Asset Managers Secures Rs 2,000 Crore for Equity Investments
• Kotak Mahindra Bank's asset management arm Kotak Alternate Asset Managers Limited has
raised Rs 2,000 crore to invest in equities.
• Kotak Alternate Asset Managers' 'Iconic Fund' is a Sebi-registered category III Alternative
Investment Fund (AIF) and an open-ended platform conceptualised as an equity multi-advisor
portfolio solution.
• Aim of the fund : To solve the challenge of building and maintaining equity portfolios amid the
difficulties faced by investors due to the market volatilities.
Reserve Bank of India and National Payments Corporation of India Recommend Strategies to Reduce
Cross-Border Remittance Expenses to 3%
• The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have
collaborated to propose measures to the World Trade Organisation (WTO) aimed at reducing the
cost of cross-border remittances.
• The current costs of cross-border remittances can be as high as 8%, prompting the need for
measures to reduce these expenses.
About RBI :
.

About NPCI :
• Founded : 2008
• The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Draft Guidelines for Academic Bank of Credits Establishment Notified by Ministry of Skills Development
and Entrepreneurship
• The Ministry of Skills Development and Entrepreneurship has notified draft guidelines for setting
up the Academic Bank of Credit (ABC), paving way for implementation and operationalization of
the National Credit Framework as envisaged under the National Education Policy 2020.
• Purpose of ABC : The Academic Bank of Credit is a digital repository that stores credit
information earned by students or learners throughout their educational journey.
ICICI Bank Extends Rs 2675 Crore Debt Facility to Tata Steel: Report
• ICICI Bank has provided a ₹2,675 crore debt facility to Tata Steel for a term of 3 years to repay
its existing debt.
• It added that documents filed with the National Securities Depository showed that Tata Steel has
raised Rs 2,700 crore through unsecured fixed-rate bonds at 7.79%.
• Tata Steel is among the top three steel producers in India with 21.6 million tonnes per annum of
crude steel capacity on a standalone basis.
• The company targets to expand its total capacity to 40 mtpa by FY30.
About ICICI Bank :
Securities and Exchange Board of India Proposes Direct Reporting of Alternative Investment Funds'
.
Private Placement Memorandum Changes to Reduce Compliance Costs

• To facilitate ease of doing business, the Securities and Exchange Board of India (SEBI) has
proposed that certain changes in the private placement memorandum (PPM) of alternative
investment funds (AIF) can be submitted directly to the regulator rather than through a merchant
banker.
• Also, the proposed move would rationalise the cost of compliance for AIFs.
• These included changes in the size of the fund, information related to affiliates, commitment
period, key investment team of the manager and key management personnel of AIF, and reduction
in expense or fee or cost charged to fund/investors.
About SEBI :
• Chairman : Madhabi Puri Buch (the first woman to lead the SEBI)
Foreign Portfolio Investments withdraw ₹325 crore from Indian equities so far in April 2024
• Foreign Portfolio Investments (FPIs) have turned cautious as they pulled out ₹325 crore from
Indian equities in the first week of April 2024 owing to relatively high valuations and the upcoming
general elections.
• The net outflow came after a staggering investment of ₹35,000 crore in March and ₹1,539 crore in
February, 2024.
• The US 10-year yield has spiked to 4.4%, potentially impacting FPI investment flows into India in
the near term.
Nippon India Mutual Fund, ICICI MF, HDFC MF Witness Double-Digit Growth in assets under
management for FY24
• Nippon India Mutual Fund, ICICI Mutual Fund, and HDFC Mutual Fund are among the top 10 fund
houses that registered double-digit growth in average assets under management (AUM) in the last
fiscal year.
.
• Nippon India MF’s average AUM increased 14% to ₹4.31 lakh crore in the fiscal ended March,
compared to ₹3.78 lakh crore in FY’23
• ICICI MF and HDFC MF logged an 11% rise to ₹6.83 lakh crore (₹6.14 lakh crore) and ₹6.12 lakh
crore (₹5.51 lakh crore), respectively.
• SBI MF topped the table with an average AUM jump of 7% at ₹9.14 lakh crore (₹8.51 lakh crore).
Reserve Bank of India Maintains FY25 Real GDP Forecast at 7%; Retail Inflation Expected to Remain
at 4.5%
• The Reserve Bank of India's (RBI) six-member Monetary Policy Committee (MPC) maintained the
policy repo rate at 6.50% at its first meeting of FY25 due to persisting retail inflation above the 4%
target.
• The policy repo rate under the liquidity adjustment facility (LAF) was also kept unchanged at
6.50%, alongside the standing deposit facility (SDF) rate at 6.25% and the marginal standing
facility (MSF) rate and the Bank Rate at 6.75%.
• The decisions align with the objective of achieving the medium-term target for Consumer Price
Index (CPI) inflation of 4% within a band of +/- 2% while supporting economic growth.
About RBI :
Compulsory Adoption of e-Insurance in Demat-Like Format for All New Policies Starting April 1, 2024
• Starting from April 1, 2024, it is mandatory for insurance policies to be held in electronic format,
akin to shares in a demat account.
• This highlights a significant shift towards digitalization in the insurance sector.
• The Insurance Regulatory and Development Authority of India (IRDAI) has mandated this
transition and requires insurers to have a Board-approved policy for issuing electronic insurance
policies.
India's Interest Rate Swaps Indicate Reserve Bank of India's Probable Decision to Maintain Rates
Stable Until 2024
.
• Indian overnight indexed swap (OIS) rates have increased since the Reserve Bank of India's latest
policy meeting, suggesting investors now expect a rate cut only in early 2025 instead of the last
quarter of 2024.
• OIS Rates:The one-year OIS rate, a commonly used indicator to gauge interest rate expectations,
reached 6.82%, the highest level since December 13.
• The five-year OIS rate was at 6.48%, marking its highest level in four months.
About RBI :
Public Sector Banks Authorized to Transfer Unclaimed Shares to the Investor Education and Protection
Fund
• The finance ministry is contemplating amending the Banking Companies (Acquisition and Transfer
of Undertakings) Act, 1970, which governs public sector banks (PSBs).
• Provision for Unclaimed Dividends : It governs public sector banks (PSBs), to make suitable
provisions for allowing PSBs to transfer shares to the Investor Education and Protection Fund
(IEPF) when dividends of such shares remain unclaimed by the investors for 7 consecutive years.
ICICI Lombard and Policybazaar Join Forces to Provide Accessible Insurance Solutions for Indian
Consumers
• ICICI Lombard announced that it has entered into a partnership with Policybazaar to bring together
the comprehensive product portfolio of ICICI Lombard and the reach of Policybazaar, promising
accessible insurance solutions for Indian consumers.
• The collaboration encompasses access to nearly 10 million customers with a wide range of
insurance products, including motor insurance, health insurance, travel insurance, home
insurance, and business insurance.
About ICICI Lombard General Insurance :
.

• Chairman & Managing Director : Sanjeev Mantri
• ICICI Lombard General Insurance Company Limited is a general insurance company in India. It is
engaged in general insurance, reinsurance, insurance claims management and investment
management.
About Policybazaar :
• Founded : July 2008
• Policybazaar is an Indian insurance aggregator and multinational financial technology company.
Reserve Bank of India Levies Fine on The Uttarakhand Grameen Bank, Dehradun
• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5.00 lakh on The
Uttarakhand Grameen Bank, Dehradun for contravention of the provisions of section 26 A (2) read
with section 51 of the Banking Regulation Act, 1949 (BR Act).
• The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural
Development (NABARD) with reference to its financial position as of March 31, 2023.
• This action is based on deficiencies in regulatory compliance and is not intended to pronounce
upon the validity of any transaction or agreement entered into by the bank with its customers.
Asian Development Bank Upgrades India's FY25 GDP Growth Projection to 7% Due to Strong
Investment and Consumer Demand
• The Asian Development Bank (ADB) has revised its Gross domestic product (GDP) growth
forecast for India, raising it to 7% for the current fiscal year (2023-24) from its previous projection
of 6.7%.
• According to the ADB's April, 2024 edition of the Asian Development Outlook, the robust growth
will be driven by strong public and private sector investment demand, as well as a gradual
improvement in consumer demand.
• However, the growth estimate for the 2024-25 fiscal year is lower than the 7.6% projected for
2022-23.
About ADB :
.

State Bank of India and ICICI Likely to Serve as third-party liaisons for European banks
• State Bank of India (SBI) and ICICI Bank, two of India's top three lenders, are expected to serve as
local intermediaries for European banks seeking third-party clearing services.
• This arrangement follows a meeting between top officials from the Reserve Bank of India (RBI) and
certain European banks.
• Background of ESMA Decision: The proposal for local banks to conduct third-party clearing for
European banks stems from the European Securities and Markets Authority's (ESMA) decision in
October 2022 to de-recognize the Clearing Corporation of India (CCIL).
About SBI :
About ICICI Bank :
Jana Small Finance Bank Collaborates with Kotak Mahindra Life to Provide Insurance Products
• Jana Small Finance Bank has partnered with Kotak Mahindra Life Insurance Company Limited to
offer life insurance products to the customers of the bank.
• The partnership will help 52 lakh customers of the bank with a wide range of life insurance
products offered by Kotak Life, including long-term savings and retirement solutions
• Commenced operations : March 28, 2018
• Headquarters : Bangalore,Karnataka India
.
• CEO: Ajay Kanwal

About Kotak Mahindra Life Insurance Company Limited :
• Kotak Mahindra Life Insurance Company Limited is a privately held life insurance company based
in India.
Pakistan Tops Asia with Highest Cost of Living and 25% Inflation Rate: Asian Development Bank
● The Manila-based lending agency Asian Development Bank (ADB) stated that the inflation rate in
Pakistan is expected to be 25% in the current fiscal year(2024), the highest in all of Asia.
● With this inflation rate, Pakistan has become the most expensive nation in Asia, surpassing its
previous status as the highest in South Asia.
● The ADB's Asian Development Outlook forecasts a 15% inflation rate for Pakistan in the next
fiscal year, which remains the highest among 46 countries.
● Additionally, it projects a 2.8% growth rate for the same period, ranking the 5th lowest for FY
2024-25.
● The State Bank of Pakistan (SBP) and federal government had set the inflation target at 21% for
this fiscal year but they are going to miss it despite inflicting huge losses in the shape of a 22%
interest rate.
● Pakistan's economic growth rate for the current fiscal year is forecasted to be 1.9%, making it the
fourth lowest among surveyed countries.
● The lowest ranks include Myanmar, Azerbaijan, and Nauru.
About ADB :
HDFC ERGO General Insurance Launches Paws n Claws: Comprehensive Pet Insurance Covering
Diagnostics
● HDFC ERGO General Insurance has launched Paws n Claws, an extensive insurance policy
specifically designed for pet dogs and cats.
● The introduction of this product coincides with April 11, 2024 National Pets Day, aiming to
.
safeguard pet owners from unexpected expenses resulting from their pets' injuries, illnesses, and
surgeries.
● Growth of Pet Care Industry: India's pet care industry is witnessing a consistent annual growth
rate of approximately 13% and is expected to reach $800 million by 2025.
About HDFC ERGO General Insurance :
● MD & CEO : Ritesh Kumar
● HDFC ERGO General Insurance Company Limited is a 51:49 joint venture firm between HDFC
and ERGO International AG, one of the insurance entities of the Munich Re Group in Germany
operating in the insurance field under the BFSI sector.
Bajaj Allianz Life Introduces Premium Payment Option via WhatsApp
● Leading private life insurer Bajaj Allianz Life Insurance has collaborated with Meta (formerly
known as Facebook) to introduce premium payment options on WhatsApp.
● Enhanced Premium Payment Services: The insurance company has enhanced its premium
payment services through WhatsApp, allowing customers to manage policies and payments
conveniently on a single platform.
● Variety of Payment Modes: Customers can now pay their premiums seamlessly through various
payment modes such as Netbanking, Credit card, and Unified Payments Interface (UPI) directly
within the WhatsApp interface.
● Expansion of Services on WhatsApp: Bajaj Allianz Life Insurance offers more than 25 services on
WhatsApp.
About Bajaj Allianz Life Insurance :
● Founded: 2001
● Headquarters: Pune, Maharashtra
● MD & CEO : Tarun Chugh
Reserve Bank of India Directs Lenders to Issue Key Facts Statement to Borrowers Starting October 1st,
2024
● The Reserve Bank of India (RBI) has asked lenders to provide a ‘key fact statement’ (KFS) to the
borrowers of all new retail and Micro, Small and Medium Enterprises (MSME) term loans
sanctioned on or after October 1, 2024, including fresh loans to existing customers.
.
● KFS contains key information regarding a loan agreement, including an all-in cost of the loan, in
a simple and easy-to-understand format.
● Applicable Entities: The circular issued by the RBI is addressed to regulated entities, including all
commercial banks, cooperative banks, and non-banking financial companies (including housing
finance companies).
● Prospective Borrowers: The KFS is to be provided to all prospective borrowers to help them
make informed decisions before signing the loan contract, following a standardised format.
● Exemptions: The directive exempts credit card receivables from the provisions outlined in the
circular.
● The KFS has to be provided with a unique proposal number and will have a validity period of at
least 3 working days for loans having a tenor of 7 days or more and a validity period of one
working day for loans having a tenor of less than 7 days, as per the circular.
What is meant by the Validity Period?
● Validity period refers to the period available to the borrower, after being provided the KFS by the
regulated entity (RE), to agree to the terms of the loan.
● They will be bound by the terms of the loan indicated in the KFS, if agreed to by the borrower
during the validity period.
● The KFS will include a computation sheet of annual percentage rate (APR) and the amortisation
schedule of the loan over the loan tenor.
● The APR will include all charges which are levied by the RE.
● Explicit Consent for Additional Fees or Charges: Any fee or charge not mentioned in the KFS
cannot be imposed by REs on borrowers during the term of the loan without the explicit consent
of the borrower.
● Implementation Timeline: RBI has directed REs to put in place the necessary systems and
processes to implement the guidelines relating to KFS for all retail and MSME term loan products
at the earliest.
About RBI :
Reserve Bank of India Limits Sarvodaya Bank Customers' Withdrawal to Rs 15,000
.
● In a significant move, the Reserve Bank of India (RBI) has placed several constraints on the
Mumbai-based Sarvodaya Co-operative Bank.
● Starting (April 16, 2024), customers of the bank are now limited to a maximum withdrawal of Rs
15,000 from their accounts.
● Customers will feel the immediate effect of these restrictions through the imposed withdrawal
limit.
● Deposit insurance assurance : For depositors worried about their funds, the RBI has confirmed
that they are eligible to claim an insurance amount on deposits up to a limit of Rs 5 lakh.
● This insurance is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC),
offering some relief amid the restrictions.
● Operational restrictions : Under the new directives, which fall under Section 35A of the Banking
Regulation Act, 1949, the Sarvodaya Co-operative Bank faces strict limitations on its banking
activities.
Punjab National Bank Marks 130 Years of Banking Excellence with Celebrations
● Punjab National Bank (PNB), one of the largest Public Sector Banks in India, celebrated its 130th
Foundation Day in the city and across the country.
● PNB unveiled a commemorative history book titled "Anarkali Bazaar, Lahore to Dwarka, Delhi - A
130 Years Saga of Excellence," chronicling the bank's evolution from 1894 to the present.
● The bank also unveiled the January-March 2024 issue of PNB Pratibha, an in-house Rajbhasha
Patrika.
● The bank also introduced new digital offerings like Digi Education Loan, Digi Car Loan,
Interoperable Cardless Cash Withdrawal (ICCW) through UPI, Kisan Credit Card Digital Review
and DP (Drawing Power) enhancement, BHIM QR Soundbox with UPI 123 Pay, PNB Pay
Wearable Debit Card, and Financial Supply Chain Management (FSCM) – iCMS.
● As part of its ongoing commitment to environmental sustainability, PNB also unveiled PALAASH
2.0, a significant step towards environmental conservation.
About PNB :
● Headquarters : Dwarka, Delhi, India
● MD & CEO : Atul Kumar Goel
● Tagline : You Can Bank Upon
.
International Monetary Fund Boosts India's Gross Domestic Product Growth Projection for FY25 to
6.8% by 30 Basis Points
● The International Monetary Fund (IMF) has raised India’s Gross Domestic Product (GDP) growth
projection for 2024-25 by 30 basis points to 6.8% in its update to the World Economic Outlook
(WEO).
● This adjustment is attributed to buoyant domestic demand.
● However, the IMF's estimate falls below the Indian government's projection of 7% growth for the
same period.
● Projected Growth Rates: Growth in India is forecasted to remain robust at 6.8% in FY25 and
6.5% in FY26, driven by continuing strength in domestic demand and a rising working-age
population.
● For FY24, the IMF has raised India’s GDP growth projection to 7.8%, compared to 6.7% in its
previous report.
● Growth Estimates by National Statistical Office: The National Statistical Office's second advance
estimates indicate a GDP growth rate of 7.6% for 2023-24, compared to 7% in the previous fiscal
year.
● Revised Projections by Rating Agencies: Rating agencies like Fitch and Barclays have also
revised India’s GDP growth projection for FY24 to 7.8%, attributing it to strong domestic demand
and persistent growth in business and consumer confidence levels.
● Inflation Projections: IMF projects India’s consumer price inflation to decline from an average of
5.4% in FY24 to 4.6% in FY25, and further to 4.2% in FY26.
● Global Growth Projection:The IMF has raised its global growth projection for 2024 to 3.2%, with
slightly faster growth in advanced economies and stable growth in emerging markets.
● China's Projected GDP Growth: The IMF projects China's GDP growth to decelerate from 5.2%
in 2023 to 4.6% in 2024, and further to 4.1% in 2025.
About IMF :
Reserve Bank of India Takes Steps to Regulate Point of Sale Payment Providers Including Pine Labs,
Innoviti, and MSwipe
.
● The Reserve Bank of India (RBI) has issued draft rules to regulate point-of-sale payment service
providers (PA-P) after releasing guidelines for online payment aggregators like Razorpay and
Cashfree.
What is meant by payment service providers?
● A payment service provider (PSP) is a third-party company that allows businesses to accept
electronic payments, such as credit card and debit card payments.
● PSPs act as intermediaries between those who make payments, i.e. consumers, and those who
accept them, i.e. retailers.
● Companies Covered : Companies such as Innoviti Payments, Pine Labs, and MSwipe will now
come under regulatory cover with these draft rules.
● Authorization Deadline: Companies providing point-of-sale payment services need to apply for
authorization from the RBI by May 31, 2025.
● In case they fail to get authorisation, they will have to cease these services, as per the draft rules.
● Classification of Merchants : Payment aggregators will have to inform the regulator about their
intent to seek authorisation within 60 days from the date of issuance of formal guidelines.
● Closure of Non-Bank PA-Ps : It directed banks to close non-bank PA-Ps by October 31, 2025,
unless they provide evidence of applying to RBI for authorisation.
● All PAs must become members of the Financial Intelligence Unit under the finance ministry to
report any suspicious transactions.
● All these guidelines apply equally to PA-P as well as online payment aggregators (PA-O).
● These guidelines assume significance in the wake of RBI’s scrutiny of the digital payments
ecosystem and the level of KYC undertaken by these service providers on their merchants.
● Paytm Payments Bank had to face regulatory action recently because of improper KYC of its
user base over the years.
● Merchant Classification : For ease of operations for payment players, the central bank has
suggested the classification of merchants into small and medium categories.
● The regulator has defined small merchants as those physical merchants with a turnover of less
than Rs 5 lakh per annum.
● Medium merchants are those with a turnover beyond Rs 5 lakh but up to Rs 40 lakh per annum.
Fitch Maintains 'BBB-' Ratings for State Bank of India and Canara Bank
.
● Global ratings firm Fitch has affirmed the ratings of several public sector banks and maintained a
stable outlook for them.
● The rating decisions are in line with the sovereign rating of the country to which these ratings are
linked.
● Fitch has affirmed the ratings of Canara Bank, State Bank of India (SBI), Bank of Baroda New
Zealand, Union Bank of India, Punjab National Bank, Bank of India, and Bank of India New
Zealand at BBB-.
● Additional Ratings Affirmed:Fitch has also affirmed the bank's Viability Rating (VR) at 'bb' and
Government Support Rating (GSR) of 'bbb-'.
● Driving Factors for Ratings:For SBI, factors such as government support, strong operating
environment, dominant presence, double-digit loan growth, lower impaired loan ratio, strong
profitability, dominance of deposits, and modest capital buffers are driving factors for its ratings.
What is Credit Rating?
● Credit rating is a measure used to evaluate the reliability of a borrower, which can be a company,
individual, or government entity.
● While individuals are typically assigned "credit scores," corporations and governments receive
"credit ratings."
● It's crucial to note that these ratings apply to specific entities, not entire nations.
● For governments, the assessment is referred to as a sovereign rating, reflecting the
creditworthiness of the government or sovereign entity.
About Fitch Ratings Inc :
● Founded : 1914
● Fitch Ratings Inc. is an American credit rating agency and is one of the "Big Three credit rating
agencies", the other two being Moody's and Standard & Poor's.
India Mortgage Guarantee Corporation Partners with Bank of India to Provide Home Loan Products
Backed by Mortgage Guarantee
● India Mortgage Guarantee Corporation (IMGC), announced its strategic partnership with Bank of
India (BOI), one of India's largest public sector banks, to offer innovative mortgage guarantee-
backed home loan products.
● This collaboration focuses on salaried and self-employed home loan customers in the affordable
housing segment.
.
● With healthy growth in the affordable housing segment, this partnership aims to mitigate the risk
of defaults for the bank and offer more favourable loan terms to its customers.
About IMGC :
● MD & CEO : Mahesh Misra
● IMGC is India's first mortgage guarantee company with over 5,100 branches and plans to provide
home loan products with more flexibility and security to customers.
● IMGC has surpassed Rs 25,000 crore in home loan guarantees for over one lakh customers
across 400 locations nationwide.
About BoI :
● MD & CEO : Rajneesh Karnatak
BNP Paribas Acquires 9% Stake in Belgian Insurer Ageas for $780 Million
● BNP Paribas, the largest bank in the eurozone, has agreed to purchase a 9% stake in Belgian
insurer Ageas from China's Fosun Group for approximately 730 million euros ($780 million),
becoming the largest shareholder in Ageas.
● The deal concludes months of speculation regarding Fosun Group's direct and indirect holdings
in Ageas as the Chinese conglomerate seeks to reduce its debt burden through asset sales after
an aggressive acquisition phase.
● The acquisition, to be executed through BNP Paribas Cardif, aligns with BNP Paribas' strategy of
expanding its insurance business.
● Ageas and BNP Paribas have been long-time partners through joint shareholding in AG
Insurance, Belgium's leading insurer, with Ageas holding 75% and BNP Paribas holding the
remainder.
● BNPP stated that it would acquire the first 4.8% tranche in the coming days, with the rest of the
9% stake to be bought after receiving regulatory approvals.
About BNP Paribas :
● BNP Paribas is a multinational universal bank and financial services holding company
headquartered in Paris, France.
About Ageas :
● Ageas is a Belgian multinational insurance company co-headquartered in Brussels, Belgium.
● Ageas is Belgium's largest insurer and operates in 13 countries worldwide.
.
Paytm Receives National Payments Corporation of India Approval to Facilitate User Transition to New
Unified Payments Interface IDs
● Paytm owner One97 Communications (OCL) received approval from the National Payment
Corporation of India (NPCI) to start the user migration from the existing Paytm Payments Bank
UPI handle to the new Payment System Provider (PSP) bank handles.
● The approval follows NPCI's earlier decision to allow Paytm to function as a third-party
application provider (TPAP) on the Unified Payments Interface (UPI).
● Now, 4 banks-State Bank of India (SBI), Axis Bank, HDFC Bank, and YES Bank will act as PSPs
for Paytm.
What is TPAP?
● A TPAP is a service provider that participates in UPI through a PSP bank, according to the NPCI,
which runs the UPI ecosystem in India.
● There are currently 24 TPAPs operational in India, including major players like Amazon Pay,
PhonePe, and Google Pay.
● Multiple banks, such as Axis Bank, HDFC Bank, SBI, and ICICI Bank, support fintech companies
via the TPAP route.
● For instance, customers using PhonePe to transact on UPI have their VPAs issued through
financial institutions such as YES Bank, ICICI Bank, and Axis Bank.
● Their UPI handles end in @ybl, @ibl, or @axl, respectively.
● UPI Transaction Ranking: Paytm Payments Bank app ranks as the third-largest company, after
PhonePe and Google Pay, in terms of processing UPI transactions by volume and value.
About Paytm :
About NPCI :
● Founded : 2008
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
.
● It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under
ICICI Lombard Reports Q4 Results: Net Profit Surges 18.9% to Reach Rs 520 Crore
● ICICI Lombard, the largest private sector general insurer, reported an 18.9% increase in its net
profit for the March quarter, reaching Rs 520 crore compared to Rs 437 crore in the year-ago
period.
● Annual Profit Growth: The company reported an 11% growth in profit after tax for the fiscal year
2023-24, amounting to Rs 1,919 crore compared to Rs 1,729 crore in the previous fiscal.
● Premium Income Growth : The gross direct premium income (GDPI) grew 22% to Rs 6,073 crore
for the reporting quarter from Rs 4,977 crore a year ago, 9.5% higher year-on-year
● Combined Ratio: The combined ratio for the March quarter improved to 102.2% compared to
104.2% in the year-ago period.
● For FY24, the ratio stood at 103.3%, with a target of achieving 102% for FY25.
● Industry Growth: Excluding crop and mass health, ICICI Lombard's GDPI growth outpaced the
industry, standing at 22% for the quarter compared to the industry's growth of 13.8%.
● The industry will continue to grow at 13-15% in FY25.
● Solvency Ratio : The solvency ratio was 2.62 times at March 31, 2024, against 2.57 times at
December 31, 2023, and 2.51 times in the year-ago period.
● Investment Returns: Returns on the investment book improved to 7.98% in FY24 from 7.50% in
FY23.
About ICICI Lombard General Insurance :
● Chairman & Managing Director : Sanjeev Mantri
Reserve Bank of India Releases Draft Regulations for Offline Payment Aggregators, Proposes ₹15
Crore Net Worth Requirement
● The Reserve Bank of India (RBI) has issued two draft directions regarding the regulation of
Payment Aggregators (PA), specifically focusing on physical Point-of-Sale (PoS) activities, net
worth requirements, and licensing prerequisites.
● The second circular aims to revise and update Know Your Customer (KYC) procedures, due
diligence for merchants, management of operations in escrow accounts, etc., to fortify the
.
payment ecosystem.
● Regulation Announcement: In September 2022, RBI announced its intention to regulate offline
Payment Aggregators handling proximity or face-to-face payments.
● The regulator has invited comments and feedback on the draft circular until May 31, 2024.
● Types of Payment Aggregators: The payments ecosystem in India comprises both online
Payment Aggregators (PA-O) and those facilitating face-to-face or proximity payment
transactions (PA-P).
● Approval and Compliance : An authorised non-bank PA-O (or PA-P) which wants to commence
physical (or online) PA activity (as the case may be), shall seek approval from Department of
Payment and Settlement Systems (DPSS), RBI, CO before commencement of such business.
● Minimum Net Worth Requirement : Non-banks providing PA-P services will need a minimum net
worth of ₹15 crore at the time of application and a minimum net worth of ₹25 crore by March 31,
2028.
● New non-bank PA-P will need a minimum net worth of ₹15 crore at the time of application and
will be required to grow it to ₹25 crore by the end of the third financial year of grant of
authorisation.
● Transition Period and Compliance : Existing non-bank PA-P which are not able to comply with
the net worth requirement or do not apply for authorisation within the stipulated time frame, shall
wind-up PA-P activity by July 31, 2025.
Master Circular on Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM)
● The Ministry of Rural Development (MoRD), Government of India (GoI) launched the National
Rural Livelihood Mission (NRLM) on April 1, 2013, by restructuring the Swarnajayanti Gram
Swarojgar Yojana (SGSY).
● Renaming: NRLM was renamed as DAY-NRLM (Deendayal Antyodaya Yojana - National Rural
Livelihoods Mission) w.e.f. March 29, 2016.
What is DAY-NRLM?
● The DAY-NRLM is the flagship program of the Government of India for promoting poverty
reduction through building strong institutions for the poor, particularly women, and enabling these
institutions to access a range of financial services and livelihoods.
● Affinity-based Women SHGs : DAY-NRLM primarily promotes women Self-Help Groups (SHGs)
based on affinity.
.
● Special Categories: In certain cases, such as groups formed with persons with disabilities,
elders, and transgenders, both men and women may be included in the SHGs.
● SHG Membership: Women SHGs under DAY-NRLM consist of 10-20 members.
● In case of special SHGs i.e., groups in the difficult areas, groups with disabled persons, and
groups formed in remote tribal areas, this number may be a minimum of 5 members.
● Revolving Fund (RF) Support : DAY-NRLM, MoRD, will provide Revolving Fund (RF) support as
corpus ranging between ₹20,000 - ₹30,000 per SHG to strengthen their institutional and financial
management capacity and build a good credit history within the group.
● Capital Subsidy: No capital subsidy is provided to any SHG under DAY-NRLM.
● Community Investment Support Fund (CIF) : CIF will be provided by MoRD to the SHGs
promoted under DAY-NRLM in all blocks and will be routed through the village level/cluster level
federations, to be maintained in perpetuity by the federations.
● Eligibility Criteria for SHGs to avail loans: SHGs should be in active existence for at least 6
months as per their books of accounts (and not from the date of opening of S/B account).
● Panchasutras: SHGs should adhere to the 'Panchasutras,' which include regular meetings,
regular savings, regular inter-loaning, timely repayment, and maintaining up-to-date books of
accounts.
● Grading Norms : SHGs should qualify as per grading norms fixed by National Bank for
Agriculture and Rural Development (NABARD).
● MUDRA Scheme : One woman in every SHG under DAY-NRLM may be provided a loan up to ₹1
lakh under the MUDRA Scheme, if she is otherwise eligible.
● Funding Pattern: DAY-NRLM is a Centrally Sponsored Scheme and the financing of the
programme would be shared between the Centre and the States in the ratio of 60:40 (90:10 in
case of North Eastern States including Sikkim; completely from the Centre in case of UTs).
State Bank of India report: Senior Citizen Deposits Surge to Rs 34 Lakh Crore, Marking 150% Growth
Over 5 Years
● The share of senior citizen term deposits has doubled in the last five years to 30 per cent in fiscal
year 2024 as many have locked in their savings at higher interest rates before the Reserve Bank
of India (RBI) starts cutting rates.
● The report estimates a staggering 74 million senior citizen term deposit accounts in India, holding
a combined value of Rs 34 lakh crore.
.
● This represents a remarkable 81% increase in account numbers and a staggering 150% jump in
total deposits compared to 2018.
● Out of such 74 million accounts, almost 73 million accounts are in the size of up to Rs 15 lakh.
● By assuming 7.5% interest on Senior citizen bank deposits, Rs.2.6 lakh crore is the interest
earned.
● So, in 6 years, there has been an increase of 81% growth in the number of accounts and 150%
in amounts.
About SCSS :
● Senior Citizen Savings Scheme (SCSS) allows deposits up to Rs 30 lakh with a guaranteed 5-
year tenure and an attractive 8.2% interest rate.
● SCSS was launched with the main aim of providing senior citizens in India a regular income after
they attain the age of 60 years old.
● It has a maturity period of 5 years.
● But, a depositor can extend one's maturity period for another three years.
● Minimum Deposit– Rs. 1,000 (and in multiples thereof)
Interest Subvention Scheme for Credit to Women Self-Help Groups Extended to all Public Sector
Banks, Private Sector Banks and Small Finance Banks in all districts in 2024-25
● Interest subvention scheme on Credit to Women Self Help Group (SHG) during the year 2024-25
for all Public Sector Banks, Private Sector Banks and Small Finance Banks in all districts.
● The scheme is limited to Women Self Help Groups under Deendayal Antyodaya Yojana -
National Rural Livelihoods Mission (DAY-NRLM) in rural areas only.
● Concessional Interest Rates: For loans up to ₹3 lakhs under the scheme, banks will extend
credit at a concessional interest rate of 7% per annum.
● For outstanding credit balances up to ₹3 lakh, banks will be subvented at a uniform rate of 4.5%
per annum during FY 2024-25.
● Higher Loan Range: For loans above ₹3 lakh and up to ₹5 lakh under the scheme, banks will
extend credit at an interest rate equivalent to their 1 year-MCLR or any other external
benchmark-based lending rate or 10% per annum, whichever is lower.
● Duration of Subvention: Interest subvention will be payable only when an account remains in the
standard category.
● Implementation : The interest subvention scheme shall be implemented for banks through a
.
Nodal Bank selected by the Ministry of Rural Development (MoRD).

● Operationalization : The Nodal Bank will operationalize the scheme through a web-based
platform, as advised by MoRD.
● For the year 2024-25, Indian Bank has been nominated as the Nodal Bank by MoRD.
● Submission of Claims : Any remaining claims pertaining to the disbursements made during the
year 2024-25 and not included during the year, may be consolidated separately and marked as
an 'Additional Claim' and submitted to the Nodal Bank by September 30, 2025, duly certified by
Statutory Auditors.
RBI Data Reveals Over 27% Increase in Urban Co-operative Banks Advances to Priority Sector in FY23
● According to the Reserve Bank of India's report-Primary (Urban) Co-operative Banks' Outlook
2022-23, the advances of Urban Co-operative Banks (UCBs) to the priority sector surged more
than 27% in the financial year 2023, compared to the previous year.
● Total Advances: The RBI report indicates that UCBs' advances in FY23 amounted to Rs 2.2
trillion, a notable increase from Rs 1.73 trillion in FY22.
● Focus on MSMEs: Majority of UCBs' advances were directed towards Micro, Small & Medium
Enterprises (MSMEs), totalling Rs 1.3 trillion in FY23 compared to Rs 1 trillion in FY22.
● Priority Sector Share: Of the total lending by UCBs to the priority sector, almost 40 per cent was
to the MSMEs in FY23 compared to 34.27 per cent last year.
● Within MSMEs, micro enterprises had the highest share at 17.23 per cent.
● Priority Sector Lending Target : The RBI has set a target of 60 per cent for priority sector lending
by UCBs till FY24.
● Comparison with Scheduled Commercial Banks : At the same time, scheduled commercial
banks' achievement under the priority sector lending as on March 31, 2023, stood at 44.7
percent.
● Overall PSL Target Achievement : Both public and private sector banks, including foreign banks,
have also achieved the prescribed 40 per cent overall priority sector lending (PSL) target during
2022-23.
● UCB Demographics : As of March 31, there were 1,502 UCBs in India, with 10,117 branches
across the country.
● It has total deposits of Rs 5.3 trillion and total advances of Rs 3.3 trillion.
● Regional Distribution : Maharashtra has the highest number of UCBs with a total of 475, and the
.
western region of the country houses 693 UCBs.

Reserve Bank of India Fines 5 Cooperative Banks Rs 60.3 Lakhs for Violating Regulations
● The Reserve Bank of India (RBI) has imposed penalties totalling Rs 60.3 lakhs on 5 cooperative
banks for contravention of various regulatory norms.
Details of Penalties :
● Rajkot Nagarik Sahakari Bank : A penalty of Rs 43.30 lakh has been imposed for non-
compliance with RBI directions on 'ban on loans and advances to directors and their relatives,
and firms/concerns in which they are interested', 'prohibition on opening of saving bank accounts
in the names of certain bodies/organizations' and 'maintenance of deposit accounts'.
● The Kangra Co-operative Bank (New Delhi), Rajdhani Nagar Sahkari Bank (Lucknow), and Zila
Sahakari Bank, Garhwal (Kotdwar, Uttarakhand): Each of these banks has been fined Rs 5 lakh.
● District Co-operative Bank (Dehradun): A penalty of Rs 2 lakh has been imposed.
● Reasons for Penalties: The penalties are based on deficiencies in regulatory compliance, such
as non-compliance with RBI directions, but they are not intended to pass judgment on the validity
of any transaction or agreement entered into by the banks with their customers.
NPCI Bharat BillPay Collaborates with State Bank of India to Enable National Common Mobility Card
Recharge
● NPCI Bharat BillPay Limited. (NBBL), a wholly owned subsidiary of the National Payments
Corporation of India (NPCI), in association with the State Bank of India (SBI), has onboarded the
SBI National Common Mobility Card (NCMC) on its Bharat BillPay platform for the convenience
of travellers.
● The category is already live with SBI NCMC cards for Noida Metro, Nagpur Metro, MMRDA Line
2A & 7, Chennai Metro, Kanpur Metro, and Parliament Canteen via the bank’s Bharat BillPay-
enabled application, SBI Unipay, and more platforms will go live with the service soon.
● Recharge Limit: Customers can recharge their NCMC cards online with amounts of up to
₹10,000 through Bharat BillPay-enabled platforms, using various payment methods such as
prepaid, debit, and credit cards.
About NPCI Bharat BillPay Limited :
● CEO of NBBL : Noopur Chaturvedi
About SBI :
.

Reserve Bank of India Permits Resident Entities to Hedge Gold Price Risk with OTC Derivatives in
International Financial Services Centres
● The Reserve Bank of India (RBI) has expanded hedging options for resident entities by allowing
them to hedge exposure to gold price risk using Over-the-Counter (OTC) derivatives in the
International Financial Services Centre (IFSC), in addition to derivatives on exchanges.
● Aim : To provide further flexibility to resident entities to hedge their exposures to price risk of
gold.
● Previous Permissions: Earlier, resident entities were permitted to hedge their exposure to the
price risk of gold on exchanges in the International Financial Services Centre (IFSC) recognised
by the International Financial Services Centres Authority (IFSCA).
● Definition of Commodity Exposure : As per the directions, direct exposure to commodity price risk
includes all commodities, except gems and precious stones.
● Structured Products : Structured products may be permitted to eligible entities who are (a) listed
on recognized domestic stock exchanges or (b) fully owned subsidiaries of such entities or (c)
unlisted entities whose net worth is higher than INR 200 crore, subject to the condition that such
product are used for the purpose of hedging as defined under these directions.
● Hedging Definition : The activity of undertaking a derivative transaction to reduce an identifiable
and measurable risk is called Hedging.
What is an OTC derivative?
● Over the counter (OTC) derivatives are like special financial deals made directly between two
parties, without using a regular marketplace or middlemen.
Finance Ministry Notifies Updated Foreign Direct Investment Limits for Satellite-Related Activities under
FEMA
● The Finance Ministry has notified a new Foreign Direct Investment (FDI) limit for various satellite-
related activities under the Foreign Exchange Management (Non-Debt Instruments) Rules.·
● With the notification, all necessary regulations are now in place to implement the higher FDI limit
effectively.
.
● The new rules are set to come into effect from April 16, 2024.
● The Government had previously approved an amendment to the FDI policy for the space sector
in February, 2024.
● Under the amended FDI policy, 100% FDI is permitted in the space sector.
● FDI Limits for Satellite Activities:Satellite manufacturing & operation, satellite data products, and
ground segment & user segment can now receive FDI up to 74% under the automatic route.
● Previous Approval Route: Previously, FDI was only permitted to establish and operate satellites
through the government’s approval route.
● The new policy aligns with the vision and strategy outlined in the Indian Space Policy 2023.
Aditya Birla Capital Introduces Omnichannel Direct-to-Consumer Platform ABCD, Targets 30 Million
Users
● Aditya Birla Capital has introduced its omnichannel Direct-to-Consumer (D2C) platform called
ABCD, aiming to simplify finance with the tagline "Everything Finance as Simple as ABCD".
● The platform is housed under Aditya Birla Capital Digital Limited (ABCDL), a wholly-owned
subsidiary of Aditya Birla Capital Limited (ABCL).
● Aditya Birla Capital targets to onboard 30 million new users over the next 3 years through this
platform.
● The platform offers a comprehensive portfolio of 22 products and services, including payment
platforms like UPI, bill payment, online recharges, as well as financial services such as loans,
insurance, investments, and personal finance tracking tools like 'My Track'.
National Payments Corporation of India to Reevaluate Decision on 30% Unified Payments Interface
Market Share Limit by Year End
● The National Payments Corporation of India (NPCI) will review its decision to implement a 30%
cap on the market share of payment players offering Unified Payments Interface (UPI) services
by the end of 2024.
● The deadline to introduce the limit remains unchanged: December 2024.
● Previous Proposal on Market Share Cap: In November 2022, NPCI proposed a 30% volume cap
on third-party application providers (TPAPs).
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● UPI Market Share Distribution: As of current data, PhonePe and Google Pay collectively hold
about 86% of the UPI market share in terms of transaction volumes, with PhonePe holding
48.3% and Google Pay holding 37.6%.
● Paytm Payments Bank is the third-largest UPI player but has experienced a decline in market
share due to restrictions imposed by the Reserve Bank of India (RBI) in January 2023.
● Cred and Axis Bank Apps are the 4th and 5th largest UPI service providers but have a market
share of less than 1% each.
● UPI Transaction Growth: UPI transactions in India experienced significant growth, with a 56%
increase in volume and a 44% increase in value in Financial Year 2023-24 (FY24) compared to
the previous year.
● FY24 marked the first time UPI transactions surpassed 100 billion, reaching 131 billion
transactions for the financial year.
● There were 84 billion transactions in FY23.
● In March 2024, transaction volume grew by 55% to 13.44 billion, and transaction value increased
by 40% to Rs 19.78 trillion compared to March 2023.
Reserve Bank of India Grants Cred In-Principle Approval to Operate as a Payment Aggregator
● Bengaluru-based fintech unicorn Cred received in-principle approval from the Reserve Bank of
India (RBI) for its Payment Aggregation (PA) business.
● Once Cred obtains final approval, it can expand its services beyond credit card bill payments to
include merchant payments, joining companies like Razorpay and Cashfree.
● Timeline for Approval: Typically, it takes about 6 months after receiving in-principle approval for a
company to get the final approval from the RBI.
● Recent PA Licenses: Other payment companies such as CCAvenue, Innoviti Payments, and
MSwipe have recently received their final PA licenses.
● RBI's Guidelines for Payment Aggregators:The RBI has issued draft guidelines for payment
aggregators (PAs) with strict know-your-customer (KYC) requirements for merchants.
● Development of Offline Payments:Cred is developing an offline payments business with plans to
deploy QR code-based "scan and pay" at retail outlets.
● This move is part of Cred's push into UPI-based payments.
About Cred :
● Founded : 2018
.
● Headquarters : Bangalore, Karnataka, India

● CEO : Kunal Shah
Bank credit records 16% surge in fiscal year, marking fastest growth in a decade
● Bank credit grew by 16% during the fiscal year, the highest growth rate in the last 10 years,
indicating a stronger appetite for lending among banks.
● This is attributed to improved financial metrics due to the systemic cleansing of balance sheets.
● Economic Recovery: The increased credit growth is partly due to the ongoing economic recovery
from the pandemic and sustained retail demand for loans.
● RBI Data: According to the Reserve Bank of India's weekly data, bank loans grew by 16.1% year-
on-year as of April 5,2024 despite higher interest rates.
● Impact of HDFC Merger: When considering the merger of Housing Development Finance
Corporation (HDFC) into HDFC Bank, the growth rate reaches 19.9%.
● Deposit Growth: The banks' aggregate deposit grew 13.2% year-on-year while the growth was
recorded at AR 13.8% if the merger is considered.
Ashok Leyland and South Indian Bank Entered into Agreement to Offer Financing Solutions to Dealers
● South Indian Bank has signed an MoU (Memorandum of Understanding) with Commercial
vehicle maker Ashok Leyland Limited for financing their dealers under the Bank’s dealer finance
program.
● Under this partnership, the Bank will provide unmatched dealer finance options to the dealers of
Ashok Leyland Limited.
● With this tie-up, South Indian Bank aims to help the dealer partners of Ashok Leyland Limited,
streamline vehicle inventory funding.
● This arrangement is mutually beneficial for the vehicle manufacturer, their dealers, and for South
Indian Bank.
About Ashok Leyland :
● Ashok Leyland is an Indian multinational automotive manufacturer, It is now owned by the
Hinduja Group.
● Founded : 1929
.

● MD & CEO : P. R. Seshadri
● Tagline : Experience Next Generation Banking
IRDAI removes the age limit of 65 years for individuals buying health insurance policies
● To widen the market and foster adequate protection from healthcare expenses, insurance
regulator IRDAI has removed the age limit of 65 years for individuals buying health insurance
policies.
● This marks a significant departure from the conventional constraints that limited individuals in
securing comprehensive coverage.
● Under the earlier guidelines, individuals were allowed to purchase a new insurance policy only till
the age of 65.
● However, with the recent amendment, which is from April 1, anyone, regardless of age, is eligible
to buy a new health insurance policy.
● In a recent gazette notification, IRDAI stated, “Insurers shall ensure that they offer health
insurance products to cater to all age groups. Insurers may design products specifically for senior
citizens, students, children, maternity, and any other group as specified by the competent
authority.”
● There is no limit on AYUSH treatment coverage.
About IRDAI :
● Chairperson: Debasish Panda
● Founded: 1999
● Headquarters: Hyderabad, Telangana
● Owner: Ministry of Finance, Government of India
Shriram Finance Introduces Digital-Only Fixed Deposit Scheme with 8.15% Interest Rate
● Shriram Finance Limited. (SFL), a non-banking financial company, has introduced a digital fixed
deposit (DFD) scheme, along with a fixed income plan (FIP) and a recurring deposit, available
exclusively through the Shriram One App and website.
● Customers would be able to obtain a Shriram Unnati fixed deposit (FD) with a tenor of 15 months
at a rate of interest of 8.15%.
● Additional Benefits for Special Categories :
.
➢ Senior citizens receive an additional 0.50% interest.

➢ Women depositors get an extra 0.10% interest.
➢ All depositors can claim an additional 0.25% benefit on FD renewal, provided it's done
digitally or through online channels.
● Minimum Deposit Requirements :
➢ While Unnati FDs with other tenors will be available both online and offline, the specific
15-month FDs will only be available for purchase through the Shriram One App and its
website.
➢ The minimum deposit amount would be ₹5,000.
● Fixed Income Plan (FIP) and Recurring Deposit (RD) :
➢ Along with the new launch, SFL has also made its Fixed Income Plan (FIP), or Recurring
Deposit (RD) currently marketed through digital and offline mode, exclusive to the Shriram
One App and SFL website.
➢ The FIP interest rates have been increased, with the following structure :
Tenor Existing Rate Increased Rate
12 months - 23 months 8.10 % 8.50 %
24 months - 35 months 8.40 % 8.75 %
36 months - 48 months 8.60 % 9%
➢ There will be an additional interest rate benefit of 0.10% for women depositors.
➢ The minimum deposit amount would be ₹1,000 a month.
About HDFC Bank :
Reserve Bank of India Fines NABFINS Limited, Bengaluru Rs 10 Lakh for Rule Non-Compliance
● The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 10 lakh on NABFINS
Limited, a subsidiary of NABARD, for non-compliance with certain rules.
● This is related to non-compliance provisions of the non-banking financial company - systemically
.
important non-deposit taking company and deposit taking company directions, 2016
● This penalty has been imposed in exercise of powers conferred on RBI under the provisions of
clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58
B of the Reserve Bank of India Act, 1934.
About NABFINS :
● Headquarters : Bengaluru, Karnataka
● NABFINS Limited (NABFINS), is a company incorporated under the Companies Act, 1956 and
registered with Reserve Bank of India as an NBFC-mFI.
● It is a subsidiary of National Bank for Agriculture and Rural Development (NABARD) with equity
participation from NABARD, Government of Karnataka, Canara Bank, Union Bank of India, Bank
of Baroda, Dhanalakshmi Bank and Federal Bank.
World Bank Proposes $1 Billion Line of Credit to State Bank of India for India's Clean Energy Initiative
● The World Bank is planning to provide a USD 1 billion line of credit to the State Bank of India
(SBI) to accelerate India's transition to clean energy, according to sources familiar with the
development.
● The financing aims to support the expansion of battery storage systems and electric mobility
initiatives across the country.
● Objective and Context : The credit line comes at a crucial time as India races to meet its
ambitious renewable energy targets while grappling with rising crude oil prices and import
dependency on fossil fuels.
● Significance of Battery Energy Storage Systems (BESS) : Large-scale Battery Energy Storage
Systems are crucial for integrating solar and wind power into India's electricity grid, compensating
for intermittent energy production.
● The Central Electricity Authority (CEA) estimates India will need 27 GW of battery storage
systems with four hours of storage by 2030 to support renewable energy production.
● India's Nationally Determined Contribution (NDC):India aims to source 50% of its installed power
generation capacity from non-fossil fuel sources by 2030, as part of its updated NDC.
About World Bank :
● Headquarters : Washington, D.C., U.S
.
● The World Bank is the collective name for the International Bank for Reconstruction and
Development (IBRD) and International Development Association (IDA), two of five international
organizations owned by the World Bank Group.
About SBI :
PayU Receives RBI's In-Principle Approval to Operate as a Payment Aggregator
● Digital financial services provider PayU has received in-principle authorisation from the Reserve
Bank of India (RBI) to operate as a Payments Aggregator (PA) under the Payment Settlements
Act, 2007.
● In January 2023, RBI had returned applications of Prosus Group firm PayU and asked it to
resubmit them within 120 days.
● With in-principle approval in place, PayU can now onboard new merchants to provide them digital
payment services.
● PayU is a payment gateway that also offers services including buy-now-pay-later, and competes
with the likes of Tiger Global-backed Razorpay and Walmart-owned PhonePe.
What is a payment aggregator?
● A payment aggregator (PA) is a third-party service provider that enables customers to make and
businesses to accept payments online.
● Payment aggregators enable their clients to accept various payment methods such as debit
cards, credit cards, cardless EMIs, UPI, bank transfers, e-wallets, and e-mandates.
● A PA licence is mandatory for a platform to acquire merchants and deliver digital payment
acceptance solutions.
About PayU :
● Headquarters : Hoofddorp, Netherlands
● CEO : Anirban Mukherjee
.
BharatPe Introduces 'BharatPe One', an All-in-One Payment Device

● Indian fintech major BharatPe launched BharatPe One, an all-in-one payment product that
integrates POS (point of sale), QR code, and speaker into one device.
● The product is designed to streamline payment transactions for merchants, offering a versatile
range of payment acceptance options, including dynamic and static QR codes, tap-and-pay, and
traditional card payments across various debit and credit cards.
● BharatPe plans to launch BharatPe One in over 100 cities in the first phase, with further
expansion to 450+ cities in the next 6 months.
● Market Potential for Soundboxes:A Bank of America (BofA) Securities report published in June
2023 estimated that the target market for soundboxes in India is approximately 25 million
medium-sized small and medium enterprises (SMEs) and 15-17 million smaller SMEs.
About BharatPe :
● Founded : 2018
● CEO : Nalin Negi
IndusInd Bank successfully conducted the Reserve Bank of India's (RBI) programmable Central Bank
Digital Currency (CBDC) pilot, becoming the first bank to do so
● IndusInd Bank has successfully executed a pilot for the Reserve Bank of India’s (RBI’s)
programmable Central Bank Digital Currency (CBDC), marking the first instance of such a project
by any bank in India.
● Collaboration and Purpose:The pilot project was conducted in collaboration with Circularity
Innovation Hub India Private Limited (CIH).
● This initiative involves an alternate form of CBDC, where the bank can program the end-use of
funds, specifically targeting farmers for carbon credit generation.
● Targeted Recipients : As a part of this pilot, IndusInd Bank initiated the programmable CBDC
disbursement to 50 farmers in Ratnagiri district of Maharashtra and will cover around 1,000
farmers going ahead, marking a milestone in the adoption of innovative financial solutions for the
agriculture sector.
● Future Phases:The next phase (Phase 2) of the project will focus on Safai Karmacharis
(sanitation workers), aiming to increase their income by leveraging revenues generated from the
collection, recycling, and repurposing of plastic waste.
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Tata Power Solar Teams Up with Indian Bank to Boost Solar Rooftop Installations in Residential Sector
● Tata Power Solar Systems Limited (TPSSL) has partnered with the Indian Bank to encourage
and support the adoption of solar rooftop systems in residential properties.
● The tie-up aims to facilitate financing solutions under the Pradhan Mantri Surya Ghar Muft Bijli
Yojana scheme for installations up to 3 KW, as well as support for 3-10 KW installations under
the regular scheme.
● Pradhan Mantri Surya Ghar Muft Bijli Yojana:This scheme provides loans up to ₹2 lakh for solar
rooftop installations up to 3 KW with a 7% annual interest rate.
● There is a nominal margin money requirement of 10%, and the financing is collateral-free.
● The repayment tenure can be extended up to 10 years.
● Financing for Larger Installations (3 KW - 10 KW):For installations exceeding 3 KW but within the
10 KW limit, TPSSL and Indian Bank offer tailored financing solutions.
● Loans of up to ₹6 lakh are available, with a 20% margin money requirement and competitive
interest rates ranging from 8.4% to 10.8% per annum.
About Tata Power Solar Systems Limited :
● Founded : 1989
● Tata Power Solar Systems Limited, formerly Tata BP Solar, is an Indian company that
specialises in solar energy services.
● In February 2017, Tata Power Solar became the first Indian company to ship over 1 GW solar
modules worldwide.
About Indian Bank :
● MD & CEO : Shanti Lal Jain
Reserve Bank of India Imposes Restrictions on Kotak Mahindra Bank Over Information Technology
.
Concerns
● The Reserve Bank of India (RBI) has, in exercise of its powers under Section 35A of the Banking
Regulation Act, 1949, directed Kotak Mahindra Bank Limited to cease and desist, with immediate
effect, from (i) onboarding of new customers through its online and mobile banking channels and
(ii) issuing fresh credit cards.
● The bank shall, however, continue to provide services to its existing customers, including its
credit card customers.
● Reasons for the Restrictions:These actions are necessitated based on significant concerns
arising out of Reserve Bank’s IT Examination of the bank for the years 2022 and 2023 and the
continued failure on part of the bank to address these concerns in a comprehensive and timely
manner.
● Serious deficiencies and non-compliances were observed in several areas, including:
➢ IT inventory management
➢ Patch and change management
➢ User access management
➢ Vendor risk management
➢ Data security and data leak prevention strategy
➢ Business continuity and disaster recovery rigour
About Kotak Mahindra Bank Limited :
● MD & CEO : Ashok Vaswani
National Bank for Agriculture and Rural Development launches Climate Strategy 2030 to drive green
financing initiatives
● The National Bank for Agriculture and Rural Development (NABARD) unveiled its Climate
Strategy 2030 document on Earth Day to address India’s growing need for green financing.
● The Climate Strategy 2030 document has been released by Shaji KV, Chairman of NABARD.
● Its main aim is to address India’s need for green financing.
● India’s Green Financing Gap : India requires approximately $170 billion annually to reach a
cumulative total of over $2.5 trillion by 2030 for green financing.
.
● As of 2019-20, India garnered about $49 billion in green financing, with most funds directed
toward mitigation. Only $5 billion was allocated to adaptation and resilience.
● Private sector engagement in green financing is limited due to challenges in bankability and
commercial viability.
● NABARD’s Climate Strategy 2030 is based on 4 key pillars:
1. Accelerating green lending across sectors,
2. Playing a broader market-making role,
3. Internal green transformation, and
4. Strategic resource mobilization.
● India's Sustainable Environment Goals:India is the world's third-largest emitter of greenhouse
gases, after China and the United States.
● India's Nationally Determined Contribution (NDC) under the Paris Agreement aims to reduce the
emissions intensity of GDP by 33-35% by 2030 from the 2005 level.
About NABARD :
Indian Overseas Bank Plans to Raise ₹5,000 Crore in Equity Capital for FY25
● Indian Overseas Bank (IOB) plans to raise ₹5,000 crore in equity capital in FY25 to comply with
the Securities and Exchange Board of India's (SEBI's) minimum public shareholding (MPS)
requirement.
Key Highlights :
● Compliance with SEBI's Norms: The Securities Contracts (Regulation) Rules, 2018, mandate
that every listed company must have at least 25% minimum public shareholding.
● As of March-end 2024, the Government of India holds a majority shareholding of 96.38% in IOB.
● The equity issuance will occur in one or more tranches within a 12-month period from the date of
.
approval.
● Shareholder Approval:The plans for equity issuance require approval from the Indian government
and shareholders, to be obtained through either an Annual General Meeting (AGM) or an
Extraordinary General Meeting (EGM).
● Tier-II Capital Raise:Additionally, IOB plans to raise tier-II capital by issuing BASEL III Compliant
tier-II bonds, up to ₹1,000 crore, depending on the requirement.
● This issuance may include a greenshoe option and will occur in one or more tranches within a
12-month period from the date of approval.
About IOB :
● MD & CEO : Ajay Kumar Srivastava
● Tagline : Good people to grow with
Reserve Bank of India's Master Direction on Asset Reconstruction Companies to Take Effect from April
24,2024
● The Reserve Bank of India (RBI) released a compiled master direction for the asset
reconstruction companies (ARCs) raising the minimum capital requirement to begin securitization
to Rs 300 crore from Rs 100 crore as on October 11, 2022.
● Notably, the RBI said that the regulation would be effective from April 24, 2024.
● ARCs, as on October 11, 2022, have been provided a glide path to achieve the minimum
required Net Owned Fund (NOF) of Rs 300 crore.
● ARCs must have Rs 200 crore by March 31, 2024 and Rs 300 crore by March 31, 2026.
● ARCs with a minimum NOF of Rs 1,000 crore can act as resolution applicants.
● ARCs may deploy funds for undertaking restructuring of acquired loan account with the sole
purpose of realising dues in government securities and deposits with scheduled commercial
banks, Small Industries Development Bank of India (SIDBI), National Bank for Agriculture and
Rural Development (NABARD) or such other entity as may be specified by the RBI.
● These Directions have been issued in exercise of the powers conferred by Sections 3, 9, 10, 12
and 12A of the Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (54 of 2002).
● Operational Guidelines : An ARC shall commence business within 6 months from the date of
.
grant of CoR by the Reserve Bank. Reserve Bank may grant extension up to 12 months from the
date of grant of CoR on receipt of the application from the ARC.
● Every ARC shall maintain, on an ongoing basis, a capital adequacy ratio of minimum 15% of its
total risk weighted assets.
● Governance Requirements : No person shall continue as MD/ CEO or WTD beyond the age of
70 years.
What is an Asset Reconstruction Company (ARC)?
● An ARC is a financial institution that buys the Non Performing Assets (NPA) or bad assets from
banks and financial institutions so that the latter can clean up their balance sheets.
AU Small Finance Bank Targets 25% Advance Growth Over Three Years
● AU Small Finance Bank (AU SFB) is planning to grow its advances at a compound annual growth
rate (CAGR) of 25% in the next 3 years.
● Currently, the balance sheet size of AU Small Finance Bank is Rs 1.09 lakh crore and Finance
Care Small Finance has Rs 17,267 crore.
● The merged balance sheet now stands at Rs 1.27 lakh crore.
● Merger with Fincare Small Finance Bank : AU Small Finance Bank had announced the merger
with Fincare Small Finance Bank in October 2023.
● The Bank received its SFB licence in 2017, and has grown its advances by over 30% annually
before the merger.
● In January 2024, the Competition Commission of India (CCI) gave approval for the merger and
on March 4 the Reserve Bank of India (RBI) approved the Scheme of Amalgamation between
both banks.
● Impact of the Merger:The merger, which is effective April 1,2024 marks a significant milestone in
the banking sector, creating an entity with a combined customer base of over 10 million, over
46,000 employees and a network of over 2,400 physical touchpoints with a balance sheet size of
Rs1.25 trillion.
About CAGR :
● Compound annual growth rate, or CAGR, is the mean annual growth rate of an investment over a
specified period longer than one year.
● It represents one of the most accurate ways to calculate and determine returns for individual
assets, investment portfolios, and anything that can rise or fall in value over time.
.

● Headquarters : Jaipur, Rajasthan, India
● MD & CEO : Sanjay Agarwal
● It was founded as a vehicle finance company and Non Banking Financial Company (NBFC), AU
Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April
2017.
PhonePe’s Indus App Store launches voice search feature in 10 Indian languages
● PhonePe’s Indus Appstore, a homegrown app marketplace, has launched its voice search
feature, in 10 Indian languages including Hindi, Marathi, Punjabi, Kannada, Tamil, Telugu,
Malayalam, Bengali, Gujarati and Urdu to expand its user base and adoption.
● The homegrown appstore aims to cover 75% local language speakers among the internet users
in the country.
● Voice Search Technology: The voice search feature is powered by artificial intelligence (AI) and
machine learning (ML) algorithms.
● Growing Demand for Voice-Activated Technology: According to data, 82% of smartphone users
engage with voice-activated technology, indicating a strong demand for such features.
About Indus Appstore :
● Indus Appstore is available in English and 12 Indian languages, allowing users to navigate the
platform in their preferred language.
● This multilingual approach supports a diverse user base.
● Indus Appstore provides a platform for developers to list, distribute, and promote their apps in the
Indian ecosystem.
● It offers self-publishing, localization services, tools for monitoring growth, and 24×7 customer
support.
About Phonepe :
● Founded : 2015
● Headquarters : Bengaluru, Karnataka, India
SBI Card Launches its First Travel-Focused Core Credit Card 'MILES'
● SBI Card has introduced its first travel-centric core credit card, named 'SBI Card MILES', offering
a range of comprehensive travel benefits.
.
● Variants of SBI Card MILES : There are 3 variants, SBI Card MILES ELITE, SBI Card MILES
PRIME, and SBI Card MILES, which have been designed to elevate these experiences through
curated travel benefits.
● Joining and Annual Fees:The joining and annual fees for SBI Card MILES ELITE are Rs 4,999.
About SBI Card :
● Founded : May 1998
● MD and CEO : Abhijit Chakravorty
● SBI Cards & Payment Services Limited, previously known as SBI Cards & Payment Services
Private Limited, is a credit card company and payment provider in India.
● SBI Card was launched by the State Bank of India and GE Capital.
Razorpay Enters UPI Infrastructure with 'UPI Switch' Launch in Partnership with Airtel Payments Bank
● Fintech company Razorpay has introduced its own Unified Payments Interface (UPI)
infrastructure called 'UPI Switch', a cloud-based solution developed in partnership with Airtel
Payments Bank.
● This solution is designed to ensure smoother and faster transactions.
● Transaction Capacity and Uptime:'UPI Switch' can handle up to 10,000 transactions per second
(TPS) at any given time.
● It provides 99.99% uptime, ensuring high reliability for users.
● Faster Access to UPI Innovations:The 'UPI Switch' enables businesses to access UPI
innovations 5 times faster than conventional infrastructure.
● UPI's Popularity in India:UPI has become India's preferred payment method, accounting for 70%
of digital transactions.
● In January 2024, UPI transactions reached a record Rs 18.41 trillion, indicating its widespread
adoption and growth.
About Razorpay :
● CEO : Harshil Mathur
About Airtel Payments Bank :
● Founded : January 2017.
.
● MD & CEO : Anubrata Biswas.

● On 11 April 2016, Airtel Payments Bank became the first company to receive the Payments Bank
license from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act,
1949.
● The Bank started with an 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank.
SBI Card's Q4 Profit Surges Unexpectedly Due to Consistent Retail Spending in India
● India's SBI Cards and Payment Services reported an unexpected 11% rise in fourth-quarter
profit, driven by steady retail spending that offset an increase in bad loans.
● The company's profit after tax reached 6.62 billion rupees ($79.4 million) for the January-March
period, up from 5.96 billion rupees a year earlier.
● This exceeded analysts' expectations, which were around 5.61 billion rupees, as per LSEG data.
● Credit Demand and Retail Spending:Credit demand, especially in unsecured categories like
credit cards, remained robust, fueled by retail consumer spending.
● Cardholder Spending and Interest Income: Total cardholder spending, or the aggregate
transacted amount, grew by 11% year-on-year to 796.53 billion rupees during the quarter.
● Gross Write-offs and Bad Loans:The company's gross write-offs rose by 60% to 8.64 billion
rupees, reflecting a higher level of bad loans and credit losses.
● Net Interest Margin (NIM): The net interest margin, a key measure of profitability, fell by 60 basis
points year-on-year to 10.9%, suggesting increased pressure on margins due to a combination of
higher write-offs and bad loans.
Edelweiss Mutual Fund Introduces Nifty Alpha Low Volatility 30 Index Fund
● Edelweiss Mutual Fund has launched the Nifty Alpha Low Volatility 30 Index Fund, a multi-factor
index fund.
● It will consist of 30 stocks selected from a pool of the top 150 listed stocks.
● These stocks have recently outperformed the broader market yet are relatively less volatile.
● The New Fund Offer (NFO) of the scheme will be from April 26 to May 10, 2024.
● Investment Strategy and Benchmark : The scheme will invest 95-100% in equity and equity-
related securities representing the Nifty Alpha Low Volatility 30 Index.
● Its scheme will be benchmarked against Nifty Alpha Low Volatility 30-TRI and will be managed
by Bhavesh Jain.
● Scheme Variants and Options : The scheme will offer regular and direct plans with growth and
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Income Distribution cum Capital Withdrawal (IDCW) options.

● Systematic Investment Plan (SIP) Details : The minimum investment amount for daily, weekly,
fortnightly, monthly, and quarterly SIP will be Rs 100 and in multiples of Rs 1 thereafter.
What Is a New Fund Offer (NFO)?
● NFO refers to a new mutual fund scheme for the public in the financial markets with an aim of
first-time subscription.
● In other words, a new mutual fund scheme based on a new investment strategy is offered to
investors for a limited period.
● Asset management companies (AMCs) offer NFOs as new mutual fund products which are not
previously present as part of the product basket.
● NFOs are offered for both close-ended and open-ended mutual fund schemes.
About Edelweiss Mutual Fund :
● MD & CEO : Radhika Gupta
● Edelweiss Mutual Funds, managed by Edelweiss Asset Management Limited, is one of the
country's youngest and most dynamic mutual fund houses.
Reserve Bank of India Maintains Foreign Portfolio Investors Investment Limit in Government Securities
at 6% of Outstanding Stocks for FY25
● The Reserve Bank of India (RBI) announced that the investment limits for Foreign Portfolio
Investors (FPIs) in government securities, state development loans (SDLs), and corporate bonds
will remain unchanged for FY25.
● Investment Limits for Various Securities:
➢ The limit for FPI investment in government securities (G-secs) is 6% of the outstanding
stocks of securities.
➢ The limit for state development loans is 2%.
➢ The limit for corporate bonds is 15%.
➢ Allocation between General and Long-term Sub-categories:The distribution of incremental
changes in the G-secs limit, in absolute terms, will remain at 50:50 between the two sub-
categories 'General' and 'Long-term' for 2024-25.
➢ State Development Loans (SDLs) Allocation:The entire increase in limits for SDLs, in
absolute terms, has been allocated to the general sub-category of state development
loans.
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➢ Credit Default Swaps (CDS) Limit:The aggregate limit of the notional amount of CDS sold
by FPIs will be 5% of the outstanding stock of corporate bonds.
Government Partners with SBI Cards and Telcos to Tackle One-Time Password Frauds
● India's Ministry of Home Affairs, SBI Cards and Payment Services Limited (SBI Card), and
telecom operators have joined forces to develop an innovative solution to combat OTP (One-
Time Password) frauds, cybercrime, and phishing attacks targeting the banking ecosystem.
● The government is testing a solution that allows banks to track the registered address and
geolocation of a customer to monitor where an OTP is delivered, providing a way to detect
potential fraud.
● Cybercrime's Impact:According to the Indian Cyber Crime Coordination Centre (i4C),
cybercriminals siphoned off Rs 10,319 crore between April 2021 and December 2023.
● Most crimes originated from China, Cambodia, and Myanmar, involving non-state actors.
● Citizen Financial Cyber Fraud Reporting and Management System:Under the i4C framework, the
government established the 'Citizen Financial Cyber Fraud Reporting and Management System,'
which successfully prevented around Rs 1,200 crore in fraudulent transfers from over 470,000
citizen complaints received by February 2024.
About Ministry of Home Affairs :
● Union Minister : Amit Shah
● Minister of State : Nityanand Rai, Nisith Pramanik, Ajay Kumar Mishra
Reserve Bank of India Makes Record Net Purchase of $8.5 Billion in the Forex Market in February
2024, the Highest in 32 Months
● The Reserve Bank of India (RBI) bought $8.5 billion on a net basis in the foreign exchange
market in February,2024 marking the highest net purchase by the central bank in 32 months.
● In January, the RBI made a smaller net purchase of $1.9 billion in the spot market.
● This indicates a significant increase in buying activity in February.
● Comparison with Previous Records: The net purchase of $8.5 billion in February is the highest
since June 2021, when the RBI had net bought $18.6 billion in the foreign exchange market.
● All-Time High Foreign Exchange Reserves: The RBI's headline foreign exchange reserves
reached a record high of $648.56 billion as of April 5, demonstrating the central bank's growing
reserve position.
Securities and Exchange Board of India Approves Groww Mutual Fund's Launch of Nifty Non-Cyclical
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Consumer Index Fund via New Fund Offering

● Groww Mutual Fund has received the Securities and Exchange Board of India’s (SEBI’s)
approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering
(NFO).
● The NFO is expected to go live in the first week of May.
● The fund will be India’s first non-cyclical index fund.
● In this instance, the fund is benchmarked against the Nifty Non-Cyclical Consumer Index (Total
Return Index).
● This tracks the performance of the top 30 stocks under sectors such as consumer goods and
services, telecom and more.
● Aim of the fund : To generate long-term capital growth by investing in securities of the Nifty Non-
Cyclical Consumer Index (TRI) in the same proportion to offer returns.
● It is structured to allocate between 95-100% of its assets in equities and equity-related securities
of companies directly involved in or anticipated to gain from consumption and consumption-
related endeavours.
● Groww Nifty Non-Cyclical Consumer Index Fund will be an open‐ended scheme tracking Nifty
Non-Cyclical Consumer Index – TRI.
● The scheme will be managed by Abhishek Jain.
About Groww MF :
● CEO : Lalit Keshre
KRAs Release Guidelines to Simplify the KYC Process
● In a bid to ease the Know Your Customer (KYC) process for investors due to new guidelines that
came into effect on April 1, 2024 the 5 KYC registration agencies (KRAs) - CDSL Ventures
(CVL), NSDL Database Management (NDML), CAMS, Karvy, and Dotex have come with
guidelines to simplify the process.
● Scope of KYC Records:The KRAs collectively hold the KYC records of 108.3 million investors,
playing a pivotal role in maintaining these records.
● Status of KYC Records:Out of the total KYC records:
➢ 73% are in the 'KYC Validated' status, indicating no further action is required for
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transacting in the securities market.

➢ 15% are in the 'KYC Registered' status, allowing existing systematic investment plans
(SIPs) with mutual funds to continue.
➢ 12% are in the 'KYC On-Hold' status, requiring additional steps for compliance.
What is the KYC Registration Agency (KRA)?
● KRA is an agency registered with SEBI under the Securities and Exchange Board of India [KYC
(Know Your Client) Registration Agency] Regulations, 2011.
● The KRA will maintain KYC records of the investors centrally, on behalf of capital market
intermediaries registered with SEBI.
AU Small Finance Bank Launches New Rupay Credit Card and ATM Insurance Products
● AU Small Finance Bank (AU SFB) has introduced a range of new products, aiming to enhance
fee income through innovative credit cards and ATM insurance.
● New Credit Cards:Two new credit cards are among the latest offerings: the AU SPONT Rupay
Credit Card and the Secured Credit Card - NOMO (No Missing Out).
● The AU SPONT Rupay Credit Card is developed in collaboration with NPCI, while the Secured
Credit Card - NOMO is developed with VISA.
● Introduction of Secured Credit Cards:The NOMO (No Missing Out) Credit Card is AU SFB's first
secured credit card, which is backed by a Fixed Deposit (FD).
● This marks the bank's entry into the realm of secured credit cards.
● Headquarters : Jaipur, Rajasthan, India
● MD & CEO : Sanjay Agarwal
● It was founded as a vehicle finance company and Non-Banking Financial Company (NBFC), AU
Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April
2017.
Reserve Bank of India Issues Guidelines for Voluntary Conversion of Small Finance Banks into
Universal Banks
● The Reserve Bank of India (RBI) has issued guidelines for the voluntary transition of Small
Finance Banks (SFBs) to Universal Banks effective immediately.
● The “Guidelines for ‘on-tap’ Licensing of SFBs in Private Sector”, dated December 5, 2019,
provide a transition path for SFBs to become universal banks.
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● Minimum Requirements for Transition : The RBI has stated that SFBs should have a minimum
net worth of Rs 1,000 crore to become universal banks in accordance with the on-tap licensing
norms.
● According to the RBI, SFBs aspiring to become a universal bank need to have scheduled status
with a satisfactory track record of performance for a minimum period of 5 years.
● Stock Exchange Listing Requirement : An SFB intending to transition to a universal bank must be
listed on a recognized stock exchange.
● Out of the 10 SFBs, only North East Small Finance Bank is not listed.
● Gross non-performing assets (GNPA) and net non-performing assets (NNPA) must be less than
or equal to 3% and 1%, respectively, over the last two financial years.
● Regulatory Structure upon Transition:Upon transition, the universal bank will be subject to all
norms, including the Non-Operative Financial Holding Company (NOFHC) structure (as
applicable).
● RBI's Authority : These instructions are issued in exercise of the powers conferred on the
Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.
Economic Think-Tank National Institute of Public Finance and Policy Forecasts India's GDP Growth at
7.1% for FY25
● Economic think-tank National Institute of Public Finance and Policy (NIPFP) has estimated
India's GDP growth at 7.1% for the current fiscal, using high-frequency models.
● The robust capital expenditure (capex) growth at the state level is a key factor driving this
projection.
Comparison with Other Forecasts:
● The NIPFP's estimate aligns with other projections from notable financial and economic
institutions:
➢ The Asian Development Bank (ADB) and Fitch Ratings have also estimated India's GDP
growth at 7%.
➢ The International Monetary Fund (IMF), S&P Global Ratings, and Morgan Stanley have
projected a 6.8% growth rate for FY25.
About NIPFP :
● The NIPFP is an autonomous research institute under India's Ministry of Finance.
Reserve Bank of India Permits Small Finance Banks to Trade in Authorised Rupee Interest Rate
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Derivative Products
● Reserve Bank of India (RBI) has decided to permit Small Finance Banks (SFBs) to deal in
permissible rupee interest rate derivative products for hedging interest rate risk.
● Aim : To expand the avenues available to the SFBs for hedging interest rate risk in their balance
sheets and commercial operations more effectively and to provide them with greater flexibility.
● Prior to this decision, Small Finance Banks were only allowed to use interest rate futures (IRFs)
for proprietary hedging.
About Small Finance Banks :
● Definition and Target Customers : SFBs are a niche type of bank in India who cater to mainly
customers not being serviced by the big commercial banks such as small business units, small
farmers, Micro, Small and Medium Enterprises (MSMEs) and various other unorganised sectors.
● Naming Requirement and Subsidiaries : Every SFB must include the words "small finance bank"
in its name and cannot establish subsidiaries for non-banking financial service activities.
● Regulatory Status and Licensing : SFBs are granted the scheduled bank status after being
operational and are deemed suitable under section 42 of the RBI Act,1934.
● Small Finance Banks are registered as public limited companies under Companies Act 2013, and
are licensed under section 22 of the Banking Regulation,1949.
● Capital Requirements: SFBs must maintain a minimum Capital to Risk-Weighted Assets Ratio
(CRAR) of 15%.
● Priority Sector Lending: SFBs are required to extend 75% of their Adjusted Net Bank Credit to
Priority Sector Lending.
National Bank for Agriculture and Rural Development Collaborates with RBI Innovation Hub to
Accelerate Digital Agriculture Lending
● The National Bank for Agriculture and Rural Development (NABARD) has partnered with the
Reserve Bank's arm RBIH to put in place a system which will enable faster processing of
agricultural loans.
● The partnership agreement was signed by the NABARD chairman, Shaji K V and Rajesh Bansal,
CEO, RBIH.
● The collaboration will streamline the lending process and reduce the turnaround time for loans
from 3 to 4 weeks to just 5 minutes for India's 120 million farmers.
● NABARD will integrate its e-KCC loan origination system portal with the Public Tech Platform for
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Frictionless Credit (PTPFC) of Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary
of the RBI.
● The PTPFC developed by RBIH was launched in 2023.
● NABARD has developed the loan origination system portal to facilitate digital Kisan Credit Card
(KCC) loan processing for cooperative banks and Regional Rural Banks (RRBs).
● Through the integration with PTPFC, about 351 district and state cooperative banks and 43
Regional Rural Banks (RRBs) will gain access to a range of services including digital state land
records, satellite data, Know Your Customer (KYC), credit history and transliteration for more
effective credit underwriting.
About RBIH :
● CEO : Rajesh Bansal
● The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India
(RBI) set up to promote and facilitate an environment that accelerates innovation across the
financial sector.
NATIONAL NEWS
Food subsidy for FY25 may be revised upward by over Rs 35,000 cr
• The government’s food subsidy expenses for FY24 were around Rs 2.2 trillion, Rs 8,000 crore
more than the revised estimate (RE), and the outgo for FY25 would need to be revised upward by
more than Rs 35,000 crore from the budget estimate (BE).
• The initial projection of the subsidy outgo by the Ministry of food and Public Distribution for 2024-25
is Rs 2.42 trillion, the source said, citing the likely rise in MSPs of wheat and rice. In the interim
budget for 2024-25, the government had provisioned Rs 2.05 trillion under the food subsidy head.
• Over the last two fiscal years, MSPs of paddy and wheat witnessed an increase in the range of 5-
7% annually.
PFRDA mandates two-factor Aadhaar authentication for CRA access from April 1
• Pension regulator PFRDA has mandated 2-factor Aadhaar Authentication for access to the Central
Recordkeeping Agency (CRA) system for conducting National Pension System (NPS) related
activities.
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• CRAs are responsible for centralised recordkeeping, administration, and customer service
functions for all NPS subscribers.
• As of date, there are three licensed CRAs in the country.
• Currently, Nodal Offices under Central and State Governments, including their underlying
Autonomous bodies, use a password-based login to access the CRA for NPS transactions.
• This new regime will be effective from April 1.
Linking of CGHS ID with Ayushman Bharat Health Account ID made mandatory

• The linking of the Central Government Health Scheme (CGHS) beneficiary ID with the Ayushman
Bharat Health Account ID will be mandatory with effect from 1st April 2024.
• Linking of the two – that is the CGHS beneficiary ID with the Ayushman Bharat Health Account ID
– must be completed within 30 days.
• The linking of the CGHS beneficiary ID with the Ayushman Bharat ID is aimed at creating digital
health identification of CGHS beneficiaries and storing their digital health records.
• According to the MoHFW, approximately 44,98,914 beneficiaries are covered under CGHS, pan-
India, which include 26,57,833 serving employees and around 18,41,081 pensioners.
• Ayushman Bharat Health account is a 14-digit number that allows citizens to maintain their
medical records digitally.
Kodaikanal Solar Observatory celebrates 125 years of studying the Sun.

• The 125th anniversary of the iconic Kodaikanal Solar Observatory (KSO) was celebrated on 1
April 2024 by the Indian Institute of Astrophysics (IIA), an autonomous institute of the Department
of Science and Technology (DST), to remember the history of KSO, felicitate its scientists, and
honour its legacy was a milestone for astronomy in India.
• The KSO houses a digital repository of 1.2 lakh digitised solar images and thousands of other
images of the Sun recorded every day since the start of the 20th century.
• Established on 1 April 1899 by the British, the Observatory has one of the longest continuous daily
records of the Sun in the world, and this unique database has been digitised and is publicly
available for astronomers from across the globe.
Over 60 Products Across India, Including Banaras Thandai, Receive Geographical Indication Tags
• Over 60 products from across India have received Geographical Indication (GI) tags, marking the
largest batch of GI tags awarded at once.
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• A Geographical Indication (GI) is a designation used on products with a specific geographical

origin, indicating qualities or reputation linked to that origin.
• To date, around 635 products in India have been given the GI tag.
• The first GI tag in the country was given two decades ago to the famous Darjeeling tea.
• Administered by the Registrar of Geographical Indications (RGI), it identifies agricultural, natural,
or manufactured goods, providing legal protection for 10 years (renewable).
India's Smart Meter Programme to enable Rs 1.5 lakh cr investment in prepaid smart meters
• India's Smart Meter National Program (SMNP) is aiming to replace 25 crore conventional electricity
meters with prepaid smart meters, along with upgrading infrastructure such as feeders and
transformers, with an estimated capital expenditure of Rs 1.5 lakh crore slated for implementation
over the next fiscal years.
• The Smart Meter National Program (SMNP) uses a flexible spending plan and a secure payment
system to lower risks usually found in big projects.
• This will make billing and payment collection easier for distribution companies (discoms).
India's March manufacturing PMI rises to 16-year high as output and orders jump to highest since
October 2020
• The manufacturing sector in India closed out FY24 with a "stellar performance" in March, a private
survey showed, as companies stepped up hiring in response to strong production and new orders.
• The HSBC India Manufacturing PMI rose to a 16-year high of 59.1 in March 2024, from 56.9 in
February 2024.
• While this number was the highest since February 2008, it was lower than HSBC's preliminary
estimate of 59.2. A reading of over 50 separates expansion from contraction.
• India's manufacturing output rose for the 33rd consecutive month in the final month as growth
quickened across consumer, intermediate and investment goods sectors.
TRAI floats consultation paper to seek views on draft National Broadcast Policy
• The Telecom Regulatory Authority of India has floated a consultation paper to seek comments
from the stakeholders on the proposed National Broadcasting Policy, which will be released by the
Information & Broadcasting Ministry.
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• The consultation paper has sought views on strategies that should be adopted to increase the
broadcasting sector’s contribution to the economy and make India a “Global Content Hub” among
other aspects.
• The telecom and broadcast regulator had last year issued a pre-consultation paper.
Agricultural trade on e-NAM crosses Rs 78,400-cr in FY24
• With more states opening up or facilitating trade of agricultural commodities on the government’s
electronic – National Agriculture Market (e-NAM), trade on the digital wholesale platform crossed
Rs 78,424 crore in FY24, up 5% on the year.
• In the last five years, trade on the digital wholesale market run by the agriculture ministry has
increased by 124% last fiscal from Rs 34,940 crore in 2019-20.
• There has also been a significant spurt in inter-mandi and inter-state trading of agri-commodities
on the digital platform, which currently integrates 1389 mandis across 27 states.
Centre gets a dividend boost as receipts from state-run undertakings surpass revised estimates by 26%
to Rs 63,000 crores
• The Centre's dividend receipts from CPSEs have exceeded the revised budget estimate by 26 per
cent to about ₹63,000 crores, with PSU behemoths like Coal India, ONGC, Powergrid and GAIL
making handsome payouts in the current fiscal.
• The revised estimates of the Budget presented in Parliament on February 1, 2024 pegged
dividend receipts from CPSEs at ₹50,000 crore for the current fiscal.
• As per the Department of Investment and Public Asset Management (DIPAM) website, actual
dividend collections have been about 26 per cent higher at ₹62,929.27 crore in the 2023-24 fiscal
ending March 31, 2024.
India aims for first strategic petroleum reserve with a private company by 2029-30
• India plans to build its first privately managed strategic petroleum reserve (SPR) by 2029-30,
granting the operator the freedom to trade all of the stored oil.
• Allowing a fully commercial SPR mirrors the model adopted by countries such as Japan and South
Korea, which allow private lessees, mostly oil majors, to trade the crude.
• The ISPRL had in the first phase built a strategic petroleum reserve in underground unlined rock
caverns for storage of 5.33 million tonnes of crude oil at three locations — Visakhapatnam (1.33
million tonnes) in Andhra Pradesh, and Mangalore (1.5 million tonnes) and Padur (2.5 million
tonnes) in Karnataka.
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New PLI scheme for components to be implemented post-elections

• The Ministry of Electronics and Information Technology (MeitY) will come out with a new
production-linked incentive scheme for component manufacturing after the elections.
• As a result, the current Rs 3,285-crore scheme for the promotion of manufacturing of electronic
components and semiconductors (SPECS), which came to an end on 31st March 2024, will not be
renewed.
• The SPECS scheme, which comes to an end, was launched in 2020 for three years and was
extended till March 31, 2024.
PLI schemes attract over Rs 1.06 lakh investment till Dec 2023; pharma sector gets major chunk
• Production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 1.06 lakh crore
investments till December 2023 with pharma and solar modules accounting for nearly half of the
total.
• The response to the schemes was tepid in sectors like IT hardware, auto, auto components,
textiles, and ACC battery storage till December 2023.
Producing green hydrogen is commercially viable, even without government support
• India’s first green hydrogen plant commissioned, highlighting commercial viability; Hygenco aims
for three more by FY25.
• Hygenco, a Haryana-based company, commissioned India’s first green hydrogen plant for steel
production in March and plans to build three more by FY25.
• Anshul Gupta, Co-founder of Hygenco, emphasised the importance of producing green hydrogen
at the lowest cost and in the most efficient way for various applications like steel and glass
production.
Over 6500 booked for drunk driving in 3 months: Delhi Police

• The number of drunken driving challans issued in the first three months of 2024 saw a staggering
rise of 1,550 per cent compared to the same period in 2022, according to Delhi Traffic Police.
• During the year 2024, from January 1 to March 31, the Delhi Traffic Police initiated special drives
against drunken driving and booked 6,591 violators compared to 399 in 2022 in the same period.
• Compared to the corresponding period last year, a rise of 22 per cent was witnessed with 5,384
challans issued for this offence in 2023
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AGEL to invest ₹1.5 trillion in developing world's largest RE park in Khavda

• Adani Green Energy Ltd plans to invest about ₹1.5 trillion through 2030 to develop the world’s
largest renewable energy plant with a 30-gigawatt capacity at the Khavda renewable energy park
in Gujarat
• The project, part of the Adani Group's renewable energy flagship’s plan to achieve 45 gigawatt
(GW) installed renewable energy capacity in the country by 2030, will see 26 GW of solar and 4
GW of wind generation capacity coming up.
• Currently, AGEL has an operating renewable portfolio of 10.93 GW—7.39 GW solar, 1.4 GW wind,
and 2.14 GW of hybrid—across 12 states.
India Post opens third post office in Antarctica

• India Post opened its third post office in Antarctica.
• The new post office was inaugurated at Bharati Station.
• Almost four decades later, letters meant for Antarctica will now have a new PIN code, MH-1718,
with the Department of Posts opening a second branch of the post office on the Bharati research
station in Antarctica.
• The inauguration coincided with the 24th Foundation Day of the National Centre for Polar and
Ocean Research (NCPOR), Goa.
• The first post office was established in 1984 at Dakshin Gangotri, followed by another in 1990 at
Maitri Station.
Jan Dhan's balance rises 18% to Rs 2.35 trillion in FY24
• Net cash accretion in no-frills Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts rose to an
all-time high of Rs 36,153 crore in 2023-24, which also showed that average cash deposits per
account at a high of Rs 4,524.
• As many as 33 million new PMJDY accounts were opened in FY24, taking the cumulative PMJDY
accounts at 519.5 million.
• The total balance in these accounts stood at Rs 2,34,997 crore compared with Rs 1,98,844 crore a
year ago.
• Around 33 million new accounts were opened in FY24 compared with 35.9 million in FY23 and
28.6 million in FY22.
Government approves 11 EV manufacturers for receiving incentives under EMPS
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• The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including
Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under
the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024.
• The scheme aims to sustain the growth in EV sales, replacing the former Faster Adoption and
Manufacturing of Electric Vehicles – II (FAME-II) scheme.
• The new scheme, with an allocation of Rs 500 crore, commenced on April 1 and will continue till
July 31.
ECI holds ‘Conference on Low Voter Turnout’ to increase voter turnout in LS Elections
• In a first-of-its-kind initiative, the Election Commission of India (ECI) held a ‘Conference on Low
Voter Turnout’ with Municipal Commissioners and District Education Officers (DEO) from select
districts to increase voter turnout in the ensuing Lok Sabha Elections.
• Ahead of the polling in the ongoing general elections in 2024, the poll body has accelerated
efforts to enhance voter turnout in parliamentary constituencies (PCs) with a history of low poll
participation in previous general elections.
Central & state GST officials to conduct joint audits of firms
• In a move that is expected to help businesses as well as reduce litigation, a Model All India GST
Audit Manual 2023 has been finalised for use by the Centre and state tax officials.
• The manual lays out standard principles for the selection of audit cases, preparation and conduct
of audit as well as post-audit follow-up, which is expected to help both the Central and
state GST officials to carry out the process in a uniform manner, sources said.
• The norms, which were placed before the GST Council in February, are likely to be taken up for
audit cases from this fiscal.
Tata's military-grade satellite successfully placed into orbit

• India's first military-grade geospatial satellite manufactured in the private sector has been
successfully launched and placed in orbit, with full functionality expected to be achieved within a
few months.
• Built by Tata Advanced Systems Ltd (TASL) at its Vemagal facility in Karnataka, the TSAT-
1A was onboard the Bandwagon-1 mission launched by SpaceX's Falcon 9 rocket in Florida.
• The sub-metre resolution imaging satellite has given a signal that it is in the right orbit and tests
will be run on it for the next few weeks before it is fully functional, TASL officials stated.
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India's fuel demand up by 5% y-o-y in FY24, a new financial year record
• India's fuel consumption declined by 0.6 percent year-on-year (y-o-y) in March.

• However, demand for the 2024 financial year increased by about five percent, primarily due to
higher sales of automotive fuel and naphtha.
• Preliminary data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry
showed that the total consumption, a proxy for oil demand, stood at 21.09 million metric tonnes
(4.99 million barrels per day) in March.
NTPC aims to add 5 GW capacity in FY25
• State-run NTPC has set a target to add 5 gigawatts (GW) of installed capacity reflecting its
commitment to providing clean, reliable, and affordable energy solutions.
• NTPC aims to add 3 GW of renewable energy (RE) capacity, exemplifying its steadfast dedication
to environmental stewardship.
• Simultaneously, the power generator aims to add 2 GW to its thermal energy capacity,
strengthening India’s energy infrastructure.
Indian Railways on course to 100 per cent electrification, becoming the world's largest green network
• Indian Railways is all set to achieve a significant milestone with 100 percent electrification of its
broad gauge network before the end of this fiscal year(2023).
• Notably in the 2024-25 interim budget, Rs 6500 crore were allocated for further electrification
projects.
• Since 2014, over Rs 46,425 crore has been allocated for electrification endeavours, significantly
accelerating the transition from diesel to electric locomotives.
• It is noteworthy that 61,813 route km on the broad gauge network has been electrified, which is
about 94% of the total Broad Gauge (BG) network of the Indian Railway.
Government sets up panel to monitor thermal power capacity additions

• The Power Ministry has set up the Thermal Power Monitoring Group (TPMG) that will regularly
track the progress of upcoming thermal power plants (TPPs) in the country.
• Power Minister R K Singh approved the setting up of an independent TPMG, which will conduct
site inspections and provide an assessment of each site of the TPP under implementation by a
central or State utility and Independent Power Producers (IPPs).
• The 8-member TPMG will be headed by the Central Electricity Authority’s (CEA) member
(Thermal).
.
• The members also include a Chief Engineer or higher-level officer from the CEA.
Indo-Pacific Economic Framework for Prosperity (IPEF) to organise Clean Economy Investor Forum in
Singapore
• The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched in May 2022 and
currently includes 14 partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the
Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, United States and
Vietnam.
• It provides a platform for countries in the region to collaborate on advancing resilient, sustainable,
and inclusive economic growth, and aims to contribute to cooperation, stability and prosperity in
the region.
Global BioFuels Alliances to prepare charter, Finalize governance structure

• India- and US-backed Global Biofuels Alliance (GBA) is set to draw up a charter to achieve its
objective of promoting biofuels and lowering the dependence on fossil fuels.
• The meeting will be on the sidelines of a G20 working group meeting in Brazil.
• This would be the second meeting of the temporary executive committee, which has
representatives from all the member countries of the alliance.
• The committee had first met in December on the sidelines of the COP28 in the United 15 Apr
Energy Transition Working Group expected to meet the Arab Emirates.
The President of India has inaugurated a Homoeopathy Symposium on the occasion of World
Homoeopathy Day.
• The President of India, Smt. Droupadi Murmu, inaugurated a two-day Homoeopathy Symposium in
New Delhi on World Homoeopathy Day (April 10, 2024).
• The Central Council for Research in Homoeopathy organized the symposium under the theme
"Empowering Research, Enhancing Proficiency," which is highly relevant to the 21st century.
• Research and proficiency will play a crucial role in increasing the acceptance and popularity of
Homoeopathy.
Tata Advanced Systems Ltd. launches India’s 1st privately-built sub-metre resolution surveillance
satellite
.
• Tata Advanced Systems Ltd (TASL) and Satellogic have jointly launched TSAT-1A, India's first
sub-metre resolution earth observation satellite built entirely by the private sector.
• The satellite was launched on April 7th on Elon Musk’s SpaceX Falcon 9 rocket from Kennedy
Space Center, Florida.
• TASL assembled the satellite at their facility in Vemagal, Karnataka.
• TSAT-1A offers high-resolution optical satellite imagery with multispectral and hyperspectral
capabilities, and sub-metre resolution (0.5-0.8 meters natively), which can be enhanced further to
0.5 to 0.6-meter super resolution using software.
India secures second overseas port Sittwe in Myanmar

• India has gained the right to operate a second overseas port, Sittwe, in Myanmar.
• The Ministry of External Affairs (MEA) has approved a proposal for India Ports Global (IPGL) to
take over the operations of the entire port located on the Kaladan River.
• IPGL is a company 100 per cent owned by the Ministry of Ports, Shipping and Waterways.
• In the Indian Ocean, China and India are engaged in a struggle to expand their economic
influence.
About Myanmar
• Capital: Naypyidaw
• Currency: Myanmar Kyat
The government directs e-commerce firms to remove Bournvita, and other drinks from the ‘health
drinks’ category
● The government has asked all the e-commerce companies to remove drinks and beverages,
including Bournvita, from the health drinks category from their portals.
● "National Commission for Protection of Child Rights (NCPCR), a statutory body constituted under
section (3) of the Commission of Protection of Child Rights (CPCR) Act 2005 after its inquiry
under Section 14 of CRPC Act 2005 concluded that there is no 'health drink' defined under FSS
Act 2006, rules and regulations submitted by FSSAI and Mondelez India Food Pvt Ltd," the
Commerce and Industry Ministry said in an advisory to all e-commerce companies.
● “All e-commerce companies/ portals are hereby advised to remove drink/beverages including
Bournvita from the category of “Health Drinks” from their sites/ platforms.
● Recently, FSSAI had also expressed concerns over dairy-based beverage mix, cereal-based
beverage mix and malt-based beverage mix being sold on e-commerce sites under categories
.
such as “health drinks”.

Government likely to issue green bonds worth ₹20,000 crore- ₹25,000 crore in FY25
● India may boost the sale of green bonds this fiscal year to finance sustainable infrastructure
projects riding the increased global interest in Indian government securities.
● The government, which has already decided to borrow ₹12,000 crore via green bonds in the first
half of FY25, may borrow a total of ₹20,000 crore–25,000 crore through such bonds during the
full year.
● The green bond plan, part of the government's overall borrowing programme, will likely be
announced in the full-year budget to be presented in July.
● In FY24, the government issued sovereign green bonds of ₹20,000 crore, even though the
budget did not specifically mention the plan.
● Of this, bonds of ₹ 5,000 crore with a tenure of five years were sold in November 2023, and
₹10,000 crore worth of bonds with a tenure of 30 years in two tranches of ₹5,000 crore each in
January and February 2024; bonds worth another ₹5,000 crore were sold in March.
India adds record 18 GW renewable energy capacity in FY24
● India has added a record renewable energy capacity of 18.48 GW in 2023-24, which is over 21
per cent higher than 15.27 GW a year ago, according to the latest data of the Ministry of New &
Renewable Energy.
● There is a need to add at least 50 GW of renewable energy capacity annually for the next six
years to meet the ambitious target of 500 GW of renewables by 2030.
● India's installed renewable energy capacity is 143.64 GW as of March 31, 2024, excluding 47
GW of large hydropower capacity (each plant is more than 25 GW or above).
● The data showed that solar installations of 12.78GW led the renewable energy capacity addition
of 15.27 GW in 2023-24, followed by 2.27 GW of wind energy.
● Among the renewable energy capacity, the total solar installed capacity tops the chart at
81.81GW, followed by about 46 GW of wind energy, 9.43 GW of biomass cogeneration and 5
GW of small hydro (up to 25 MW capacity each).
● Among the states, Gujarat and Rajasthan have the largest renewable energy capacities of about
27GW each, followed by Tamil Nadu at about 22 GW, Karnataka at about 21 GW and
Maharashtra at about 17 GW.
● Himachal Pradesh and Andhra Pradesh have installed renewable energy capacity of about 11
.
GW each.
An amendment has been made to the Double Taxation Avoidance Agreement between India and
Mauritius.
● India and Mauritius recently signed an amendment to their Double Taxation Avoidance
Agreement (DTAA) that includes a principal purpose test (PPT) aimed at preventing tax
avoidance.
● This has raised concerns about increased scrutiny of foreign portfolio investments via Mauritius
and past investments.
● This will require existing structures and investments from Mauritius to pass the PPT test,
potentially affecting their tax treatment in India.
What is a Double Tax Avoidance Agreement (DTAA)?
● The Double Tax Avoidance Agreement (DTAA) is a treaty signed between two countries so that
non-residents can avoid paying double taxes.
● For example, if an Indian works in a company situated in Mauritius, they might have to double
taxes twice in both countries, which is something that the DTAA wants to prevent.
● India has signed DTAA with 85 nations in total to safeguard non-resident Indians from double
taxation.
● This agreement ensures that countries involved have agreed upon tax rates on income arising
from their country.
DTAA Between India and Mauritius :
● The governments of India and Mauritius came to a unanimous decision in 1983 regarding the
avoidance of double taxation.
● Objective: To promote bilateral economic relations and investment between India and Mauritius
by providing tax certainty and reducing tax barriers.
About Mauritius
● Capital: Port Louis
● Currency: Mauritian Rupee
● Prime minister: Pravind Jugnauth
India Top Choice For Digital Pursuit: Nasscom
● India remains the top choice for enterprises looking to expand their digital services portfolio and
companies are expected to increase spending on AI, data analytics and cybersecurity, according
.
to industry body Nasscom.

● The report 'Digital Enterprise Maturity 5.0: Digital Readiness in the Era of AI' is based on a
survey of 550 enterprises across 11 major sectors and seven major geographical regions.
● The survey found that 71 per cent of enterprises in India spent over 20 per cent of their tech
spends on digital in 2023.
● Nearly 90 per cent of companies have signalled plans to boost investments in key digital
technology areas in 2024, including artificial intelligence (AI)/machine learning (AI/ML), big data
analytics, cloud computing, cybersecurity, and intelligent automation.
Ramkrishna Forgings secures ₹270 crore order for Vande Bharat trains
● Ramkrishna Forgings Ltd has received an order of Rs 270 crore from a consortium led by BHEL
to supply bogie frames of Vande Bharat train sets.
● The scope of the project involves the development and validation of the bogie frames for the
sleeper version of the Vande Bharat train sets, Ramkrishna Forgings Ltd (RKFL).
● This order encompasses 32 train sets, each comprising 16 coaches and RKFL will be producing
a total of 1,024 bogie frames.
● The order valued at Rs 270 crore is to be supplied to the BHEL TRSL consortium.
● Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of
carbon and alloy steel, micro-alloy steel, and stainless steel forgings.
● The company also has a presence in the US, Mexico, Turkey, and Belgium.
India gifts 35 ambulances, and 66 school buses to various health and education institutions in Nepal
● India donated 35 ambulances and 66 school buses to various organisations across Nepal,
enhancing the local infrastructure in the health and education sectors.
● Indian Ambassador to Nepal Naveen Srivastava handed over the vehicles to the Nepalese
officials in the presence of Finance Minister Barshaman Pun at a ceremony.
● Out of 101 vehicles, two ambulances were handed over on location in the earthquake-affected
Jajarkot and West Rukum districts by the representative of the Embassy of India in the presence
of district officials and local residents.
● Since 1994, India has gifted 1,009 ambulances and 300 school buses across Nepal.
India raises windfall tax on petroleum crude to ₹9,600
● The Indian government announced an increase in the windfall tax on petroleum crude.
● Effective from April 16, the tax rate has been raised to 9,600 rupees ($114.99) per metric ton, up
.
from the previous rate of 6,800 rupees.

● This revision, which occurs every fortnight, maintains the windfall tax at zero for diesel and
aviation turbine fuel, providing some relief in those sectors.
● The government raised the windfall tax on petroleum crude to 6,800 rupees per metric ton from
4,900 rupees on April 4.
● India started the tax on crude oil producers and on exports of gasoline, diesel and aviation fuel in
July 2022 to regulate private refiners who wanted to sell fuel overseas instead of locally in a bid
to gain from robust refining margins.
● Windfall Tax is a tax levied by governments against certain industries when economic conditions
allow those industries to experience significantly above-average profits.
● The term “windfall” refers to an unexpected rise in profits, and the tax on windfall gains is known
as the windfall tax.
India lost 2.3 million hectares of tree cover between 2001 and 2023
● India has lost 2.33 million hectares of tree cover since 2000, according to the latest data from the
Global Forest Watch monitoring project.
● The Global Forest Watch, which tracks forest changes in near real-time using satellite data and
other sources, said the country lost 4,14,000 hectares of humid primary forest from 2002 to 2023,
making up 18 per cent of its total tree cover loss in the same period.
● Between 2001 and 2022, forests in India emitted 51 million tons of carbon dioxide equivalent a
year and removed 141 million tons of carbon dioxide equivalent a year.
● The data showed that 95 per cent of the tree cover loss in India from 2013 to 2023 occurred
within natural forests.
● The maximum tree cover loss of 189,000 hectares occurred in 2017.
● The country lost 175,000 hectares of tree cover in 2016 and 144,000 hectares in 2023, the
highest in the last six years.
● The GFW data showed that five states accounted for 60 per cent of all tree cover loss between
2001 and 2023.
● Assam had the maximum tree cover loss at 324,000 hectares compared to an average of 66,600
hectares.
● Mizoram lost 312,000 hectares of tree cover, Arunachal Pradesh 262,000 hectares, Nagaland
259,000 hectares, and Manipur 240,000 hectares.
.
● According to the Food and Agriculture Organisation, the rate of deforestation in India was
668,000 hectares per year between 2015 and 2020, the second highest worldwide.
● From 2001 to 2022, Odisha had the highest rate of tree cover loss due to fires with an average of
238 hectares lost per year.
● Arunachal Pradesh lost 198 hectares, Nagaland 195 hectares, Assam 116 hectares, and
Meghalaya 97.
About GFW
● Global Forest Watch (GFW) is an open-source web application to monitor global forests in near
real-time using satellite data and other sources.
● It is a project of the Washington-based nonprofit research organization, the World Resources
Institute (WRI).
Centre to set up dedicated test labs in six states for Kasturi Cotton global brand push
● To promote the global brand of Kasturi Cotton, the Center will set up dedicated testing
laboratories in six states.
● The central government plans to set up dedicated laboratories for testing high-grade cotton in
Maharashtra, Tamil Nadu, Haryana, Punjab, Gujarat, and Karnataka.
● It will be set up as part of an effort to establish Indian Kasturi cotton as a global brand.
● The laboratories will be set up in convergence with the Bureau of Indian Standards (BIS) testing
facilities, ensuring alignment with national quality standards.
● The aim of setting up this laboratory is that India wants to compete with global cotton brands like
Supima and Giza, known for their exceptional softness, strength, and durability.
● Egypt has successfully established its Giza cotton brand internationally with a modest annual
production of one million bales.
● The Indian product, Kasturi Cotton India, is produced according to stringent standards, with a
strict limit of 2% on waste content to ensure its premium quality and 100% traceability.
DD changes logo colours from red to orange
● The central government-owned news television channel DD News has undergone a makeover by
changing the colour of its logo from bright red to beaming saffron.
● The transformation of the logo came with the launch of its new studio channel.
● The change in the branding, set design, logo and general visual aesthetics was announced in
social media posts on April 16.
.
● The first Doordarshan logo, which was selected by the then prime minister Indira Gandhi and
broadcast for the first time along with the theme music composed by Pandit Ravi Shankar and
Ustad Ali Ahmed Hussain Khan on April 1, 1976, was an orange logo against a green
background.
The Government notifies the specifications of IFFCO's Nano Urea Plus
● The government has notified specifications of a new product 'Nano Urea Plus' fertiliser to be
manufactured by cooperative IFFCO in the country in the next three years.
● Nano Urea Plus is a new version of nano urea meant for meeting crop nitrogen requirements at
critical growth phases.
● According to a gazette notification, the government has approved Nano Urea Plus in liquid form
with 16 per cent nitrogen content in weight by weight, and pH value of 4-8.5 and viscosity of 5-30.
● This product will be manufactured by the cooperative major IFFCO for three years.
● Currently, IFFCO offers 'Nano Urea' which has 1-5 per cent weight by weight nitrogen content.
● The Nano Urea Plus has more nitrogen.
● IFFCO launched the world's first 'Nano liquid urea' fertiliser in June 2021. Thereafter, it came up
with 'Nano DAP' fertiliser in April 2023.
PHDCCI unveils 10-key enablers for ‘Viksit Bharat’ by 2047
● Industry body PHDCCI came up with 10 key enablers to help India become a “developed
country” (Viksit Bharat) by 2047 and ramp up its per capita income to $21,000 by that year.
● It also sees the country’s GDP growing at an average rate of 6.7 per cent between now and
2047, while pegging the growth forecast for the current fiscal at 8-8.3 per cent.
● PHDCCI has in the report forecast the size of the Indian economy at $34.7 trillion by 2047 as
against $3.7 trillion now.
● By 2047, PHDCCI sees the share of agriculture in the overall GDP coming down to 12 per cent
from 20 per cent in 2023 and that of manufacturing rising from 16 per cent in 2023 to 25 per cent
in 2047.
Shompen Tribes Of Andaman & Nicobar Islands Cast Vote For First Time
● For the first time in Andaman and Nicobar Islands, seven members of the Shompen tribe, a
particularly vulnerable tribal group (PVTGs) of Great Nicobar Islands exercised their voting rights
for the lone Lok Sabha seat in the union territory.
● Not only Shompen tribe members exercised their voting rights at polling station 411 named as
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'Shompen Hut' built inside the forest staff quarters but also they posed for selfies at a designated
cut-out made by the Election Commission of India, which reads - "I vote for sure".
● The Shompen tribes were assisted in their language by an interpreter known as 'Mathiyas' (a
Nicobari tribal youth).
● As per the 2011 census the population of the Shompen was 229.
Amara Raja Infra bags 700 MWp solar project from Greenko
● Amara Raja Infra Pvt Ltd has secured a 700 MWp solar project from Greenko in Andhra Pradesh.
● With the latest win, the order book of Amara Raja Infra Private Limited (ARIPL) stands at Rs
1,516 crore at the end of FY24
● ARIPL has achieved a significant milestone in the renewable energy sector by securing a solar
BoS project of 500 MW/700MWp from Greenko
● The project spans a 2,200-acre site near Uyyalavada Town in Kurnool district of Andhra Pradesh.
Archer Aviation aims to start electric air taxi trials next year
● Archer Aviation, backed by Stellantis and Boeing, aims to begin trials of its electric air taxi in India
next year, ahead of a planned commercial launch in 2026
● U.S.-based Archer last year partnered with InterGlobe Enterprises, which backs India's top airline
IndiGo, to launch the air taxis to help people avoid ground traffic in congested cities
● Archer is working with India's aviation watchdog to get the "appropriate regulatory approvals"
before it can begin trials in the country
● For commercial operations, Archer is in final stages of getting approvals from the Federal
Aviation Administration (FAA) in the United States, which it expects will come through next year,
after which it will seek clearances in India.
● It will first launch in New York and India will be its first international market.
● Electric vertical takeoff and landing aircraft (eVTOL), also known as flying taxis, have been touted
as the future of urban air mobility.
Majority of top-100 companies making disclosures about carbon emissions:

● Supplementing the efforts of the Indian government to achieve a net-zero emission target by 2070,
as many as 51 per cent of the top 100 companies have started making disclosures voluntarily about
carbon emissions, according to a PwC India survey.
● The survey further said that about 31 per cent of the respondent companies have disclosed their net-
.
zero targets.
● The government and the regulators have introduced new regulations pertaining to ESG
(environmental, social and governance) for businesses.
● 51 per cent of India's top 100 listed companies by market capitalisation disclosed their Scope 3 data
for FY23 despite it being a voluntary disclosure in Business Responsibility and Sustainability
Reporting (BRSR).
All cases of organ transplants, whether from living or deceased donor, to be given unique NOTTO-ID
● All cases of organ transplants, whether from a living or deceased donor, will be allocated a unique
National Organ and Tissue Transplant Organisation (NOTTO)-ID for both the donor and the
recipient.
● It must be generated by the hospital from the NOTTO website (www.notto.mohfw.gov.in).
● The Union Health Ministry has issued the directive to eliminate commercial dealing in organs,
especially those involving foreign citizens.
● The Ministry of Power's Secretary Pankaj Agarwal and Ambassador of India to the Netherlands
Reenat Sandhu jointly inaugurated the India Pavilion at the 26th World Energy Congress (WEC)
2024.
● Participated by the Indian Renewable Energy Development Agency Limited (IREDA) and other
CPSEs under the Ministry of Power, New & Renewable Energy (MNRE), Coal and Petroleum &
Natural Gas, the pavilion serves as a testament to the country's technological progress in the energy
and power sector.
● The India Pavilion at WEC serves as a hub for showcasing innovative technologies and power
generation practices, reinforcing India's commitment to environmental conservation on the global
stage.
● Other CPSEs such as ONGC, NTPC, PFC, REC, Power Grid, NHPC, and SECI also participated in
the flagship event, collectively reinforcing India's leadership in the global energy transition.
Small exporters seek continuation of amnesty scheme till September 2024:

● Several small exporters have requested the government to continue the amnesty scheme for one-
time settlement of default in export obligation till September, an industry body.
● Ludhiana-based Hand Tools Association President S C Ralhan said the number of small exporters
have not been able to avail of benefits of the scheme due to fulfilling their obligations to make
payments to MSMEs within 45 days.
.
● According to Section 43B(h) of the Income Tax Act, introduced through the Finance Act 2023, if a
larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it
cannot deduct that expense from its taxable income, leading to potentially higher taxes.
● The last date for payment of customs duty plus interest ended on March 31, 2024.
CMFRI develops seed production technology for high value marine fish golden trevally
● In a significant achievement in India’s mariculture sector, the researchers of the ICAR-Central
Marine Fisheries Research Institute (CMFRI) have succeeded in captive breeding of golden trevally
(Gnathanodon speciosus), a high value marine fish.
● Scientists at CMFRI’s Visakhapatnam Regional Centre achieved successful bloodstock
development, captive breeding and larval rearing of the fish after five years of research.
● Golden trevally or golden king fish is an ideal candidate species for mariculture (marine aquaculture)
due to its faster growth rates, good meat quality, and huge market demand for both consumption
and ornamental purposes.
● The farm-gate value of the fish is Rs. 400-500 per kg.
NBCC secures new work orders worth Rs 23,500 crore in 2023-24 fiscal
● State-owned construction firm NBCC Ltd secured projects worth Rs 23,500 crore during the last
fiscal year.
● NBCC has secured significant business during 2023-24 financial year.
● The company "has secured record new works of Rs 23,500 crore on consolidated basis and Rs
18,400 crore on standalone basis, as compared to Rs 6,700 crore (consolidated basis) and Rs 4,225
crore (standalone basis) in preceding fiscal."
● Among the major orders received in 2023-24, NBCC said it has got additional FAR (floor area ratio)
works in Amrapali worth about Rs 10,000 crore.
● NBCC also bagged its first re-development project outside of Delhi from Kerala State Housing Board
(KSHB) valuing Rs 2,000 crore.
The government gets Rs 3,443 crore special dividend from TCIL
● The government has received Rs 3,443 crore as a special dividend from Telecommunications
Consultants India Limited (TCIL), a public sector enterprise under the Ministry of Telecom.
● The "Government has received about Rs 3,443 crore from Telecommunications Consultants India
Limited (TCIL) as a special dividend," Department of Investment and Public Asset Management
(DIPAM) Secretary Tuhin Kanta Pandey
.
● Established in 1978, TCIL is an engineering and consultancy and a profit-making organisation since
its inception, as per its website.
● In the current fiscal, the government has budgeted to get Rs 48,000 crore as dividend from central
public sector enterprises (CPSEs).
About TCIL
● Headquarters: New Delhi
● Founder: Government of India
● Founded: 1978, India
SJVN CMD felicitates the winners of SJVN’s Inter-Projects Sports Meet 2023-24
● SJVN Limited's Chairman & Managing Director (CMD) Geeta Kapur graced the closing ceremony of
SJVN’s Inter-Projects Sports Meet 2023-24 held at Corporate Headquarters, Shimla.
● The event marked the culmination of a series of sports events that commenced in November 2023
and spanned till April 2024.
● Inter Project Sports Meet 2023-24 was organised from November 2023 till April, 2024 and comprised
of eight events viz Volleyball, Football, Cricket, Kabaddi, Badminton, Table Tennis, Chess and
Carrom for Men and four events for Women viz Badminton, Table Tennis, Chess and Carrom.
● Inter Project Sports Meet concluded with the Chess Tournament that was held on April 21 to 22.
About SJVN
● Founded: 1988
● Headquarters: India
Union Health Secretary visits pharmaceutical Bilthoven Biologicals, Netherlands; has an engaging
meeting with CEO
● Union Health Secretary Shri Apurva Chandra visited the manufacturing unit of global pharmaceutical
company Bilthoven Biologicals at Utrecht, Netherlands.
● He had an engaging meeting with CEO Mr Juergen Kwik & CEO of Poonawalla Science Park (PSP)
at Bilthoven Mr Jef De Clercq on EU pandemic preparedness partnership and collaboration on the
production of vaccines.
● Bilthoven Biologicals B.V. Co. manufactures pharmaceutical products such as vaccines for polio,
diphtheria-tetanus-polio, and tetanus along with bacillus calmette-guerin (BCG).
● The bioengineering and vaccine production firm Bilthoven Biologicals was purchased by Serum India
Ltd., in 2012.
.
● Recently Serum and Bharat Biotech have announced collaboration for enhanced production of OPV.
India at World Energy Congress 2024: Power Secretary and Indian Ambassador to the Netherlands
inaugurate India Pavilion
● India is showcasing its innovative technologies and power generation practices, at the 26th World
Energy Congress, being held in Rotterdam, Netherlands.
● The India Pavilion at the Congress aims to be a hub for showcasing innovative technologies and
power generation practices, reinforcing India's commitment to environmental conservation on the
global stage.
● Central Public Sector Enterprises under the Ministry of Power, Ministry of New & Renewable Energy,
Ministry of Coal and Ministry of Petroleum & Natural Gas are participating in the India Pavilion,
giving a collective testimony to India’s leadership in global energy transition.
● The Pavilion was jointly inaugurated by Secretary, Ministry of Power, Government of India, Shri
Pankaj Agarwal and Ambassador of India to the Netherlands Mrs. Reenat Sandhu, on 22nd April,
2024.
IIT Madras Carbon Zero Challenge announces top 25 teams with promising Sustainable Tech
Innovation
● The Indian Institute of Technology Madras (IIT Madras) has announced the top 25 teams that form
the fourth Cohort of the annual Carbon Zero Challenge, a pioneer pan-Indian competition to
encourage start-ups in the Sustainability Sector.
● The teams were announced during the ‘Embarkment ’ event held on the campus.
● The CZC 4.0 launched the fourth cohort during January 2024 and has provided funding to 100
teams with over Rs. 5 crore in total. It has served as a seedbed for 13 start-ups and has transformed
42 students/researchers and eight faculties into entrepreneurs.
● The Challenge is being supported by Thales, a French multinational company, and Aquamap Centre
for Water Management - IIT Madras.
● The latest edition of CZC4.0 received 850 applications with validated proof of concept from 25
States, from which 25 teams were shortlisted after two rounds of stringent evaluations by 50 experts.
Target is to achieve $1 trillion goods exports by 2030: Trade Ministry

● The Commerce Ministry has initiated an exercise to identify required infrastructure needs, potential
sectors, and clusters which would help the country achieve the $1 trillion merchandise exports target
by 2030 but sustainability will be a major concern going forward.
.
● EU lawmakers backed the Corporate Sustainability Due Diligence Directive (CSDDD) by 374 votes
to 235 against, with 19 abstentions, Reuters reported.
● Notably, more than a fourth of India’s exports of iron, steel and aluminium were to the EU and as per
industry estimates, the EU tariffs could raise the costs of Indian exports by 20 to 35 per cent.
NTPC Kanti, the first station among NTPC, started Girl Empowerment Mission 2024
● NTPC Kanti was among the first stations to start the GEM program pan NTPC.
● The GEM (Girl Empowerment Mission) program aims to empower girls by providing them with the
education and skills necessary for their holistic development.
● This workshop, themed ” Empowered Girls, Empowered Kanti”, will run from April 25 to May 20,
providing free education to students in subjects such as Mathematics, Computer, English, Hindi, etc.
Centre accords AEO status to the gem and jewellery sector
● The Centre has extended Authorised Economic Operator (AEO) status to the gem and jewellery
sector, the Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the sector.
● The AEO programme was introduced as a pilot project in 2011 by the Customs Department as part
of a broader framework for ease of doing business, which has been instrumental in simplifying
export operations across various sectors, resulting in significant time and cost savings for exporters.
● The AEO is a programme under the World Customs Organisation (WCO) SAFE Framework of
Standards to secure and facilitate global trade.
Oil PSUs' output from overseas fields is up a tad
● India's state-run firms' output from overseas oil and gas fields marginally rose in 2023-24 after
declining for four straight years.
● The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no
new overseas assets were acquired in recent years.
● The share of India's state companies in oil and gas production from overseas fields increased to
19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous
year.
● ONGC Videsh, India's largest investor in overseas oil and gas fields, has a stake in Sakhalin-1,
where production had nearly halted for some time following the exit of its operator Exxon.
Centre to allocate higher sales quota may sugar mills in May to tame prices
● The Centre aims to allocate sugar mills a higher sales quota for May, which will cumulatively be
100,000-200,000 tonnes more than that in the same month a year ago, to tame prices of the
.
sweetener
● Ex-mill sugar (small and medium-sized grade) prices in Uttar Pradesh, Maharashtra and Karnataka
rose 2.6%-4.9%, depending on region and variety, to ₹3,540-3,930 a quintal in the past 30 days,
● Only seven mills in Maharashtra, about 15 in Uttar Pradesh and some in Tamil Nadu are still
crushing sugarcane.
India becoming attractive for clinical trials: Pharma industry leaders
● Over the past 10 years, clinical trials in India have become easier, more accessible and accelerated,
experts from the pharma sector have said as top multinationals are increasingly looking at the
country as their base for clinical trials.
● Data from 2017 to 2023 shows that phase two and phase three clinical trials are growing at about 15
per cent to 18 per cent in India.
● This is primarily because of the 10 modifications done to the Drugs and Cosmetics Act of 1940,
according to Badhri Srinivasan, head of Global Clinical Operations, Novartis.
● Novartis is one of the largest pharmaceutical companies in the world and was the fourth largest by
revenue in 2022.
Drone use for farming gets a big boost, to more than double by FY25
● According to industry estimates, while currently as many as 3,000 drones are being utilised in the
agriculture sector, the number could rise to over 7,000 by FY25 itself.
● With the government’s thrust on promoting drones for agricultural activities like crop mapping,
analysis and application of nutrients and pesticides, manufacturers see an exponential increase in
demand for these unmanned aerial vehicles (UAVs) in the next couple of years.
● This, analysts feel, would help boost crop productivity significantly through optimum use of water,
soil nutrients and crop protection formulations.
● The number of drones in operations could grow to 10,000 – 15,000 in the next couple of years with
rapid adoption in the agriculture sector
● The drone will become more prominent with government support by the end of FY26, as it helps
save 70% of water usage and reduce 20%-30% on fertilizer applications.
INTERNATIONAL NEWS
Taiwan Struck by Strongest Earthquake in 25 Years, 7.2 Magnitude Quake Hits Near Hualien County
• Taiwan was hit by a 7.2 magnitude earthquake, the strongest in the last 25 years.
.
• The epicentre of the quake was located just 18 kilometres south-southwest of Hualien County,
which is situated in eastern Taiwan.
• Taiwan is prone to earthquakes as it lies along the Pacific “Ring of Fire” - where 90% of the world’s
earthquakes take place.
• The Ring of Fire is essentially a string of hundreds of volcanoes and earthquake-sites which run
along the Pacific Ocean.
About Taiwan :
• President : Tsai Ing-wen
• Capital : Taipei
• Currency : New Taiwan dollar
North Atlantic Treaty Organization Commemorates 75th Anniversary as Foreign Ministers Convene in
Brussels
• North Atlantic Treaty Organization (NATO) Foreign Ministers gathered at NATO Headquarters,
Brussels, Belgium to mark 75 years since the signing of the Washington Treaty.
• NATO approved a proposal for a 100-billion-euro, 5-year fund to Ukraine.
• Since 1949, the Alliance has ensured peace, democracy and prosperity for its members, now
counting 32 Allies and one billion people on both sides of the Atlantic.
• This year’s NATO Day comes just weeks after Sweden joined as the thirty-second member of the
Alliance.
About NATO :
• Headquarter: Brussels, Belgium
• Secretary General Jens Stoltenberg
• It is a military alliance established by the North Atlantic Treaty.
• It currently has 32 alliance members from North America and Europe.
• Its fundamental goal is to safeguard the Allies’ freedom and security through political and military
means.
• It is a system of collective defence where independent member states agree for mutual defence in
case of an attack by an external party.
Nepal leads inaugural Rainbow Tourism Conference, pledges safe destination for all
.
● The first International Rainbow Tourism Conference opened, with Nepal offering itself as a safe
and respectful destination in South Asia for the sexual minority community.
● The single-day international conference was organised by Mayako Pahichan Nepal, a non-
governmental organisation.
● “This pioneer event organised by Mayako Pahichan Nepal in collaboration with Nepal Tourism
Board marks a significant milestone in promoting diversity and inclusivity within the tourism
industry,” reads a press release issued ahead of the event.
● The conference's main objective is to position Nepal as an LGBT-friendly tourism destination.
● The international conference was inaugurated by Minister for Women, Children and Senior
Citizens, Bhagawati Chaudhary, who underlined the need to forge collaboration among different
stakeholders to promote LGBT tourism in Nepal.
● In June 2023, through an interim order, it allowed same-sex marriage to be registered legally.
About Nepal:
● Capital: Kathmandu
● Currency: Nepalese Rupee
● President: Ram Chandra Poudel
● Prime minister: Pushpa Kamal Dahal
Italy's Mount Etna Erupts with Perfect Smoke Rings in the Sky
● Mount Etna volcano has been sending up almost perfect rings of smoke into the air which are a
rare phenomenon that scientists refer to as volcanic vortex rings.
● Volcanic Vortex Rings are generated when gas, predominantly water vapour, is released rapidly
through a vent in the crater.
● It was first observed at Etna and Vesuvius in Italy in 1724.
● Volcanic vortex rings have also been observed at other active volcanoes, including Redoubt in
Alaska, Tungurahua in Ecuador, Pacaya in Guatemala, Eyjafjallajökull and Hekla in Iceland,
Stromboli in Italy, Aso and Sakurajima in Japan, Yasur in Vanuatu, Whakaari in New Zealand,
and Momotombo in Nicaragua.
● Mount Etna is sometimes referred to simply as Etna, is an active volcano on the east coast of
Sicily, the largest island in the Mediterranean Sea.
● Etna’s peak is the highest in Italy south of the Alps, and it is Europe’s largest and one of the most
active volcanoes.
.
● It has been a UNESCO World Heritage Site since 2013.

About Italy :
● President : Sergio Mattarella
● Prime Minister : Giorgia Meloni
● Capital : Rome
● Currency : Euro
Indonesia Raises Highest Alert Level After Volcano Erupts 5 Times in 24 Hours
● Mount Ruang has erupted, sending an ash cloud over a mile high into the sky, indicating
significant volcanic activity.
● It is a stratovolcano located in Indonesia’s North Sulawesi province.
● Its summit stands 10,932 feet above sea level, with a caldera that is about 2 miles wide.
● Stratovolcano is a tall, steep and cone-shaped type of volcano.
● It comprises the largest percentage (~60%) of the Earth's individual volcanoes, and most are
characterised by eruptions of andesite and dacite, lavas that are cooler and more viscous than
basalt.
About Indonesia :
● President : Joko Widodo
● Capital : Jakarta
● Currency : Indonesian rupiah
European Union Adopts New Schengen Visa Rules Offering Greater Benefits for Indian Travellers
● The European Commission has introduced a new Schengen visa regime for Indian nationals,
offering multi-year visas for up to 5 years.
● This change is expected to boost outbound travel from India to European destinations.
● EU-India Common Agenda on Migration and Mobility:The new visa rules reflect strengthened
relations between the European Union (EU) and India under the EU-India Common Agenda on
Migration and Mobility.
● Cascade Regime Implementation:On April 18, 2024, the European Commission adopted the new
"cascade" regime for the application of the Schengen visa for Indian nationals.
● Criteria for Multi-year Schengen Visas:Indian nationals can be issued long-term, multi-entry
Schengen visas valid for two years after obtaining and lawfully using two visas within the
previous three years.
.
● Composition of the Schengen Area:The Schengen area comprises 29 European countries, of

which 25 are EU states.
● The EU states covered by Schengen area are, Belgium, Bulgaria, Croatia, Czech Republic,
Denmark, Germany, Estonia, Greece, Spain, France, Italy, Latvia, Lithuania, Luxembourg,
Hungary, Malta, The Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia,
Finland and Sweden.
● Countries that are not members of the European Union, but members of the Schengen area
include Iceland, Liechtenstein, Norway and Switzerland.
About European Union :
● Headquarters : Brussels , Belgium
● President of the European Council : Charles Michel
● President of the Commission : Ursula von der Leyen
● Members : 27
STATE NEWS
Tripura's 'Rignai Pachra' Textile and Tripureswari Temple's 'Pera' Granted Geographical Indication (GI)
Tag
• Tripura’s two iconic products -‘Matabari pera prasad’ offered at the famous Tripureswari temple
and ‘Rignai pachara’ textiles, representing a traditional hand-woven attire meticulously crafted by
skilled artisans using indigenous materials have been bestowed with the coveted Geographical
Indication (GI) tag.
• Early this month, the Northeastern State’s ‘Risa’, a hand-woven cloth worn by the indigenous
communities of the State, received the GI tag.
• In addition to the recently recognized products, Tripura's queen pineapple had previously received
a GI tag through the initiative of the North Eastern Regional Agricultural Marketing Corporation
(NERAMAC).
About Tripura :
• Governor : Indra Sena Reddy Nallu
• Chief Minister : Manik Saha
• Capital : Agartala
.
• National Park : Bison (Rajbari) National Park, Clouded Leopard National Park
• Wildlife Sanctuary : Sepahijala Wildlife Sanctuary, Trishna Wildlife Sanctuary
• Ramsar Site : Rudrasagar Lake
Commercial Plant for Recycling Lithium-Ion Batteries (LIB) and E-Waste Coming Soon at Uttarakhand
• The Technology Development Board (TDB) under the science & technology ministry has partnered
with a private entity to establish a commercial plant for recycling lithium-ion batteries (LIB) and e-
waste using indigenous technology in Uttarakhand.
• Aim : To enhance circularity and reduce the country's reliance on imported critical mineral
resources.
• Presently, a large portion of LIBs, about 95%, end up in landfills without recycling, while only 5%
undergo the process.
• India currently ranks 3rd among the largest generators of e-waste globally, behind only China and
the United States (US).
About Uttarakhand:
India’s first semiconductor fabrication unit chips in Punjab
● Nearly 35 years after a mysterious fire destroyed its facilities at the 51-acre campus at Mohali in
Punjab, Semi-Conductor Laboratory (SCL) is fighting back to extinguish old memories and earn
its place in the sun.
● That’s courtesy of a generous Rs 10,000 crore modernisation plan drawn up by the Ministry of
Electronics and IT (Meity), which wants India’s original semiconductor fabrication unit to not only
continue its operations in the 180 nanometers (nm) technology fab, but upgrade to 28 nm.
● It’s ironic that SCL first started manufacturing in 1984, three years before Taiwan’s
Semiconductor Manufacturing Company (TSMC), which eventually became a global chip leader,
set up shop.
● SCL has two fabrication lines — for 6-inch and 8-inch wafers — an ATMP unit, and a compound
semiconductor unit.
● So far, SCL has been serving strategic sectors like space and satellites, railways, and telecom,
.
among others by supplying them with 180 nm chips. Once it starts manufacturing 28
nm technology, the target is to increase its capacity to 24,000 wafers per month.
● Currently, it rolls out 700 wafers per month — 180 nm.
● Wafer acts as the foundation for creating chips. Chip manufacturing starts with wafer preparation.
About Punjab:
● Capital: Chandigarh
● Chief minister: Bhagwant Mann
● Governor: Banwarilal Purohit
BUSINESS NEWS
Adani Green Energy Is India's First Firm With a 10,000 MW Renewable Energy Capacity
• Adani Green Energy Ltd has commissioned 2,000 MW of solar capacity at the giant Khavda Solar
Park in Gujarat which has made it the first company in India with over 10,000 MW of renewable
energy capacity.
• The company now has an operating portfolio of 10,934 MW, the largest in India.
• It has brought 2,848 MW renewables capacity on stream in FY24.
• AGEL's operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-
solar hybrid capacity.
India's manufacturing hits a 16-year high in March 2024

• India's manufacturing industry expanded at a fast pace in the last 16 years due to accelerating
demand.
• The last time a reading of this level was recorded was in February 2008, when the HSBC India
Manufacturing Purchasing Managers’ Index (PMI) had touched a high of 59.5.
• India’s manufacturing PMI jumped to 59.1 in March 2024 from 56.9 in February 2024.
• In January 2024, the PMI was 56.5.
NSE cuts Nifty, Nifty Financial Services F&O lot sizes to 25

• After effecting changes in 54 individual derivative stocks, the National Stock Exchange (NSE)
revised the lot sizes of indices too.
• The Nifty lot size has been cut to 25 from the current 50 while Nifty Financial Services has been
reduced to 25 from 40 and Nifty Midcap Select to 50 from 75.
.
• However, the Nifty Bank lot size will remain at 15.

• All contracts i.e. weekly, monthly, quarterly, and half-yearly expire that will be introduced on April
26 will be with the revised market lot size.
India aims to achieve marine exports worth Rs 1 trillion within the next two years.
• India is aiming to reach Rs 1 trillion in marine product exports in the next two years by increasing
its processing capacity and a shift to higher value-added products.
• India’s exports of marine products were $8.09 billion (Rs 63,969 crore) in 2022-23 and in the April-
February exports from the sector were down 7.5% on year to $ 6.8 billion.
• The decline in demand from the US and Europe which are the key markets.
• Among marine products, shrimp exports have a 67% share.
Mobile phone output tops Rs 4.1 trillion in FY24

• The value of mobile devices produced in India for both export and domestic markets in the
financial year 2023-24 soared to Rs 4.1 trillion ($49.16 billion), up at least 17 year-on-year (Y-o-Y),
according to preliminary estimates by the Indian Cellular and Electronics Association (ICEA) which
represents most of the mobile players in the country.
• The final figure could be higher by another Rs 5,000 crore.
• Apple led the charge in exports, with the value of outbound shipments of mobile devices expected
to have crossed Rs 1.2 trillion ($14.39 billion) in FY24, a 33 per cent increase from Rs 90,000
crore in the previous financial year.
March 2024 sees second-highest gross GST revenue of ₹1.78 lakh crore, lifts FY24 collections to ₹20.2
lakh crore
• Gross Goods and Services Tax (GST) revenue for March 2024 witnessed the second highest
collection ever at ₹178,484 lakh crore, with an 11.5 per cent year-on-year growth.
• This surge was driven by a significant rise in GST collection from domestic transactions at 17.6 per
cent.
• The highest-ever GST collection was recorded at ₹1.87 lakh crore in April 2023.
• GST revenue net of refunds for March 2024 was ₹1.65 lakh crore, 18.4 per cent higher over the
same period a year ago.
• In terms of state Maharashtra topped in paying GST followed by Karnataka, Gujarat , Tamil Nadu,
and Haryana in March 2024.
.
UPI ends FY24 on a high note, with transactions worth ₹199 lakh crore processed
• The Unified Payments Interface (UPI) ended FY24 on a strong high, setting new records for both
the volume and value of transactions undertaken during March 2024.
• This was despite transactions dipping slightly in February 2024 due to the fewer number of days in
the month, and increased investment activity ahead of the financial year-end.
• Transactions worth ₹19.78 lakh crore were processed during March 2024, higher than the
previous record of ₹18.41 lakh crore set in January 2024.
• The number of transactions on the UPI network rose to 1,344 crore during the month, from the
January peak of 1,220 crore transactions.
Tata Steel to stop operations of coke ovens at Port Talbot plant

• Tata Steel has decided to cease operations of the coke ovens at its Port Talbot plant in Wales, UK.
• The move is part of Tata Steel’s transition from an emission-intensive blast furnace technology to
low-carbon steelmaking through the electric arc furnace route.
• The company said it had previously stated that many of its heavy-end assets in Port Talbot are at
their end-of-life capability.
• The plan involves a £1.25 billion investment in electric arc furnace technology in Port Talbot and
asset upgrades.
• Of the £1.25 billion investment, the UK government has committed £500 million to enable the
transition, and Tata Steel plans to invest £750 million.
Net FDI in India down 38.4% in April 2023-January 2024: RBI's March 2024 bulletin
• The net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent
year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the
repatriation of capital.
• According to the Reserve Bank of India’s data in the March 2024 bulletin, FDI in India was $25.53
billion and outflows were $10.11 billion in April 2023-January 2024.
• Repatriation and divestment by those who made direct investments in India rose to $34 billion in
the 10 months of the financial year.
DCB, Ekam Eco Solutions join hands to set up a composting facility at Goa University
.
• Ekam Eco Solutions Pvt Ltd, a research spin-off of IIT Delhi’s works on sanitation, along with DCB
Bank, launched a composting facility at Goa University.
• Located on the university grounds, this facility has a capacity of processing 657 kgs of wet waste a
day.
• Sponsored by DCB Bank as part of its corporate social responsibility (CSR) initiatives, the facility is
designed and developed by Ekam Eco Solutions Pvt Ltd. Alterenergyz has taken charge of
commissioning and managing the facility.
• Murali M Natrajan, Managing Director and Chief Executive Officer of DCB Bank
Electric vehicles: India's share in global PV market may rise to 7% by 2040

• The latest estimate by Goldman Sachs has stated that India’s share of the global electric
passenger vehicle market may go up to 7.1 per cent by 2040 from the current level of 1 per cent in
2024.
• As per the estimates for 2024, Sachs has predicted that electric passenger car sales will remain at
more or less the same levels as 2023, around 0.1 million.
• But in 2030, they will cross the million mark for the first time, hitting 1.3 million in 2030 and then 5.5
million by 2040.
• The new scheme allocates Rs 333.39 crore to support the sale of 3.33 lakh electric two-wheelers
(e-2W) and Rs 126.19 crore for the sale of 25,238 large electric three-wheelers (e-3W L5).
Coal Sector Shows Highest Growth of 11.6 % among Eight Core Industries in February 2024
• The coal sector has exhibited the highest growth of 11.6 % (provisional) among the eight core
industries for February 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12)
released by Ministry of Commerce & Industries.
• The index of coal industry has reached 212.1 points during Feb’24 as compared to 190.1 points
during the same period of last year and its cumulative index has increased by 12.1% during April to
February, 2023-24 over the corresponding period of previous year.
• The Combined Index of Eight Core Industries experienced a 6.7% increase in February 2024,
compared to the same period of the previous year.
• Adani Green Energy Ltd has commissioned 2,000 MW of solar capacity at the giant Khavda solar
park in Gujarat that has made it the first company in India with over 10,000 MW of renewable
energy capacity
.
• After effecting changes in 54 individual derivative stocks, the National Stock Exchange (NSE)
revised the lot sizes of indices too
• India is aiming to reach Rs 1 trillion in marine product exports in the next two years by increasing
its processing capacity and a shift to higher value-added products.
Retail inflation declines to a 5-month low of 4.85 per cent in March 2024
• According to the data released by the National Statistical Office (NSO), Consumer Price Index
(CPI) declined to a 10-month low of 4.85 per cent in March as against 5.1 per cent in February.
• Meanwhile, industrial growth based on the Index of Industrial Production rose to a four-month high
in February, to 5.7 per cent, against 4.1 per cent in January.
• The Quick Estimates of Index of Industrial Production (IIP) are released on 12th of every month.
Vodafone Idea announces price band for Rs 18,000 crore FPO

• Debt-ridden telecom operator Vodafone Idea announced that it will offer shares worth Rs 18,000
crore in its further public offering (FPO) from April 18-22 at a price band of Rs 10-11 per share.
• The share sale will open on April 18 (for anchor investors on April 16) and close on April 22,
Vodafone Idea, which is the country’s third-largest telecom service provider.
• During April-February, Vodafone Idea lost 16.2 million mobile subscribers, taking its total base to
220.5 million, according to data from the Telecom Regulatory Authority of India (Trai).
Sensex crosses 75,000 for the first time; Nifty 50 hits record high of above 22,700
• The benchmark Sensex crossed the 75,000 mark for the first time and the Nifty 50 opened above a
new record high of 22,700 mark led by strong Q4 earnings optimism and a positive Asian market.
• The 30-share Sensex had breached the first 25,000 mark in May 2014 and the 50,000 mark on
January 21, 2021.
• The market capitalisation, or the total value of all listed shares, of the BSE-listed firms stood at
401.82 lakh crore .
Former Gazprom unit rejects GAIL demand for compensation of $1.8 billion
• A former unit of Russian energy giant Gazprom has rejected state-owned GAIL (India) Ltd's
demand for compensation for non-delivery of LNG supplies in the aftermath of Russia's invasion of
Ukraine.
• In a stock exchange filing, GAIL said SEFE Marketing Trading Singapore Pte Ltd has stated that it
does not owe anything other than the defaulted cargoes.
.
• GAIL in December last year filed an arbitration claim before the London Court of International
Arbitration seeking $1.8 billion for "non-supply of LNG cargoes under a long-term contract
Vistara to cut 25-30 flights daily; 10 pc reduction in capacity mostly in domestic routes
• Facing disruptions due to the non-availability of crew, Vistara announced reducing 10 per cent of
its capacity or 25-30 flights daily and most of the cancellations are in the domestic network as the
Tata Group airline strives to stabilise operations.
• The full-service carrier is to operate daily in the ongoing summer schedule and witnessed
significant disruptions earlier this week as many pilots reported sick, resulting in cancellations of
flights.
• The airline hopes to have stable operations in April and beyond.
India’s February 2024 coal imports up 13%

• India saw a 13% increase in coal imports, reaching 21.64 million tonnes (MT) in February 2024,
attributed to buyers taking new positions to restock ahead of the summer season, reports
Mjunction, an online marketplace.
• This marked a rise from the 19.15 MT imported during the same period in FY23.
• mjunction's data indicates that non-coking coal imports surged to 13.77 MT in February, up from
11.68 MT in the previous year, while coking coal imports slightly increased to 4.56 MT compared to
4.40 MT in February 2023.
PC imports rose amid licence uncertainty, China’s share spiked after plan scrapped
• In January 2024, nearly 90 per cent of the laptops and personal computers (PCs) imported by
India came from China.
• Beijing’s share was well over 89 per cent and, in November 2023, the figure was 83 per cent.
• In all, until January in the 2023-24 financial year (FY), nearly eight out of 10 laptops sold in India
came from China, shows an Indian Express analysis of the Commerce Ministry’s import-export
data bank.
• From November 2023 to January 2024, after the licence plan was dropped, Beijing's share in
imports of the goods shot up to 87.5 per cent
Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals
• Piramal Alternatives, the investment arm of the Piramal Group, has announced an investment of
Rs 110 crore in Biodeal Pharmaceuticals.
.
• Biodeal is a contract development and manufacturing organisation.

• The funding will be utilised to improve Biodeal's infrastructure and production capacity.
• It will also be directed towards upgrading technology and establishing a nutraceuticals
manufacturing facility.
Mcap of BSE-listed firms hit Rs 400 trn milestone after rally in equities
• The market capitalisation of BSE-listed companies reached an all-time high of Rs 401.10 trillion
on April 8, 2024, following a record rally in equities, wherein the 30-share BSE Sensex scaled its
lifetime peak.
• This is the first time that the market capitalisation of BSE-listed companies has gone past the
coveted Rs 400 trillion mark.
• From the Sensex basket, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Finserv, Power Grid,
Reliance Industries, Axis Bank and JSW Steel were the major gainers.
NTPC launches new edition of Girl Empowerment Mission
• NTPC Limited, India’s largest integrated power company, is gearing up to launch the latest edition
of Girl Empowerment Mission (GEM), its flagship Corporate Social Responsibility initiative.
• The program aligns with the Government of India's Beti Bachao, Beti Padhao initiative and aims to
tackle gender inequality by nurturing girls' imaginations and fostering their ability to explore
opportunities.
• GEM does this through a 1-month workshop for young girls during summer holidays, by offering
them a platform for their all-round upliftment and development.
India targets US$ 600 bn in textile exports

• India is working on an ambitious target to achieve $600 billion of textile exports by 2047 from $44
billion in FY22 and the domestic market to grow to $1.8 trillion from $110 billion in 2022.
• The textiles ministry is formulating its Vision 2047 based on five thematic pillars-research &
innovation; infrastructure, trade & investment; marketing & brand promotion; skilling & quality and
sustainability.
• The country also plans to reduce emission intensity to 2.25 tonnes of CO2 per tonne of crude steel
(2.25 T/tcs) production by FY29 from 2.50 T/tcs now, and even further by 2047.
Index Numbers of Wholesale Price in India for the Month of March, 2024
● The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 0.53%
.
(Provisional) for the month of March, 2024 (over March, 2023).

● The positive rate of inflation in March 2024 is primarily due to an increase in prices of food
articles, electricity, crude petroleum & natural gas, machinery & equipment and other
manufacturing etc.
● The index numbers and inflation rate for the last three months of all commodities and WPI
components are given below:
Index Numbers and Annual Rate of Inflation (Y-o-Y in %)*
All Weight Jan-24 Feb-24 (P) Mar-24 (P)

Commodities/Major (%)
Index Inflation Index Inflation Index Inflation
Groups
All Commodities 100.00 151.2 0.33 151.2 0.20 151.8 0.53
I. Primary 22.62 181.4 4.07 181.4 4.49 183.1 4.51

Articles
II. Fuel & Power 13.15 154.9 -0.45 155.1 -1.59 155.2 -0.77
III. Manufactured 64.23 139.7 -1.20 139.8 -1.27 140.1 -0.85

Products
Food Index 24.38 178.1 3.85 178.3 4.09 180.1 4.65
India’s Exports Estimate To Reach 776.68 Billion Dollars In Financial Year 2023-24
● India’s exports are estimated to reach 776.68 billion dollars in financial year 2023-24, surpassing
last year’s highest record.
● The Ministry of Commerce and Industry, in a release said that the overall exports in the
preceding financial year, 2022-23, were 776.40 Billion dollars.
● The Ministry added that overall imports in the financial year 2023-24 are estimated to be 854.80
Billion dollars, exhibiting a negative growth of minus 4.81 per cent compared to the preceding
financial year.
● The overall trade deficit is estimated to significantly improve by 35.77 per cent, from 121.62
Billion dollars in the financial year 2022-23 to 78.12 Billion dollars in the financial year 2023-24.
.
Brokerage firm Groww seals top spot with nearly 23% market share
● Brokerage firm Groww emerged as the largest broker in India with a market share of 23.4 per
cent and an active client base of 9.5 million in the Financial Year 2023-24 (FY24).
● The discount broker recorded a 77.5 per cent jump in the active client base in FY24 and a 42 per
cent overall jump in the market share.
● While its rival, Zerodha, recorded a 14 per cent jump in the number of active clients touching 7.3
million year-on-year.
● The top five largest brokers are – Groww followed by Zerodha, Angel One, Upstox, ICICI
securities.
● The share of top five discount brokers account in the total NSE active clients has also surged to
63.8 per cent as of March 2024 against 59.9 per cent in March 2023.
● The number of active clients at NSE surged to 40.8 million as of March 2024 against 32.7 million
the same month a year ago -- recording an increase for the ninth consecutive month.
● The total number of demat accounts has increased to 151 million in FY24, with an average
monthly addition of 3.1 million.
Hong Kong approves first bitcoin, Ethereum spot ETFs
● Hong Kong's securities regulator approved the first spot bitcoin and ethereum exchange-traded
funds (ETFs), a milestone on the way to becoming Asia's first city to accept the popular
cryptocurrencies as a mainstream investment tool.
● The Hong Kong unit of Bosera Asset Management and China Asset Management said they had
received regulatory approval from the Hong Kong Securities and Futures Commission (SFC) to
launch the ETFs.
● Bosera will launch its product in partnership with Hong Kong-based HashKey Capital.
● The step comes just three months after the U.S. launched the first U.S.-listed ETFs to track spot
bitcoin.
Indian economy projected to grow 6.5% in 2024: UNCTAD
● UN Trade and Development (UNCTAD) in its report released that India grew by 6.7 per cent in
2023 and is expected to expand by 6.5 per cent in 2024, continuing to be the fastest-growing
major economy in the world.
● The expansion in 2023 was driven by strong public investment outlays as well as the vitality of
the services sector which benefited from robust local demand for consumer services.
.
● Three countries in the region – Bangladesh, Pakistan and Sri Lanka – are currently under IMF
programmes, the conditionalities of which necessitate the application of tight monetary policies
and fiscal austerity measures whose impacts are most severely felt by low-income households.
● Global growth is projected to be 2.6 per cent in 2024, slightly slower than the 2.7 per cent in
2023.
● This makes 2024 the third consecutive year in which the global economy will grow slower than
before the pandemic when the average rate for 2015–2019 was 3.2 per cent.
IMF raises India’s GDP growth forecast to 6.8% for FY25
● The International Monetary Fund (IMF) upped its growth projection for India by 30 basis points to
6.8 per cent for the current fiscal year.
● However, it has not made any changes to its projections for FY26.
● In its April edition of World Economic Outlook, the IMF said it expects India's FY26 (next fiscal)
GDP growth at 6.5%.
● The agency has pegged GDP growth for FY24 at 7.8 per cent.
● For the current fiscal, the projection is 50 basis points higher than the projection made in October
and 30 basis points higher than the projection made in December.
● Despite upward revision, IMF’s latest projection is still lower than that of the Asian Development
Bank (ADB) and the Reserve Bank of India.
● ADB revised its projection to 7 per cent from 6.7 per cent for the current fiscal
● Recently, the World Bank also revised its forecast for India’s GDP growth to 6.6% for FY25 from
6.4% predicted for the fiscal earlier.
Net direct tax collections exceed the 2023-24 target

● India’s net direct tax collections grew 17.7% in 2023-24 to hit ₹19.58 lakh crore, marginally
surpassing the revised estimates for the year, thanks to a surge in personal income taxes whose
share of the tax kitty rose to 53.3% from 50.06% in the previous year while corporate taxes’
contribution dipped to 46.5% from 49.6%.
● Net collections of income and corporate taxes, which make up for most of the direct taxes, in the
2023-24 financial year exceeded the Budget estimates by Rs 1.35 lakh crore (7.40 per cent) and the
revised estimates by Rs 13,000 crore.
● The gross collection (provisional) of Direct Taxes (before adjusting for refunds) for the FY 2023-24
.
stood at Rs 23.37 lakh crore, showing a growth of 18.48 per cent over the gross collection of Rs
19.72 lakh crore in FY 2022-23.
● The gross corporate tax collection (provisional) in FY 2023-24 was up 13.06 per cent to Rs 11.32
lakh crore as compared to the gross corporate tax collection of Rs 10 lakh crore of the preceding
year.
● The Net Corporate Tax collection (provisional) in FY 2023-24 at Rs 9.11 lakh crore showed a growth
of 10.26 per cent over the net corporate tax collection of Rs 8.26 lakh crore of the preceding year.
IFCI gets Rs 500 cr capital infusion from govt via issuance of equity
● State-owned IFCI has received a capital infusion of Rs 500 crore through the issuance of equity
shares to the government on a preferential basis.
● Allotment of 123,977,188 shares to the Government of India was done on April 18, 2024, on a
preferential basis, IFCI in a regulatory filing.
● Following the capital infusion, the government holding in the oldest financial institution IFCI has
increased from 70.32 per cent to 71.72 per cent.
Sustained growth of 7% feasible for India
● Sustaining the economic growth momentum of 7 per cent in 2024-25 and beyond is feasible on the
back of favourable monsoon, higher farm productivity and improved global trade, RBI Monetary
Policy Committee (MPC) member Shashanka Bhide.
● During 2023-24, the economy is likely to record a growth rate of nearly 8 per cent on account of
good performance of manufacturing and infrastructure sectors.
● (India's economic) Growth in the current year will likely be supported by agriculture with a favourable
monsoon and improved global trade. Sustaining the growth momentum of 7 per cent seems feasible.
Gruner Renewable Energy bags projects worth ₹1,500 Cr for CBG plants
● Gruner Renewable Energy, India’s fastest-growing renewable energy company, has recently
secured multiple projects valued at Rs 1,500 crore for Compressed Biogas (CBG) Plants nationwide
within its first year of establishment.
● In a notable development, the company secured 11 projects worth Rs 1,100 crore from India’s
leading business conglomerate and an additional 19 projects valued at Rs 400 crore from individual
business leaders.
● These projects, collectively valued at Rs1,500 crore, will contribute to an annual production of over
88,000 tons of compressed biogas for the Indian market.
.
Expect capex for EV components to cross ₹25,000 cr in next 3-4 years

● The auto component industry is expected to invest over ₹25,000 crore in the next 3-4 years to
expand the production of electric vehicle parts, rating agency ICRA
● EV penetration in the country has reached 4.7% in FY2024, with much of it driven by the electric
two-wheeler segment, although e-three-wheelers and electric buses have also contributed to the
same.
● However, advanced chemistry batteries, which remain the most critical and the costliest component,
accounting for almost 35%-40% of the vehicle price, are imported.
● The low localisation levels give rise to manufacturing opportunities for domestic auto component
suppliers.
About ICRA
● Headquarters: India
● CEO: Ramnath Krishnan
● Owner: Moody's Corporation
● Founded: 1991
FPO marks the start of Vodafone Idea 2.0: Kumar Mangalam Birla
● Aditya Birla Group chairman Kumar Mangalam Birla, the success of Vodafone Idea’s ₹18,000-crore
follow-on public offer, India’s largest FPO to date, marked a turning point for the telecom industry.
● Shares of Vodafone Idea Ltd opened at ₹11.80 on the NSE, a premium of 7.2% over the issue price
of ₹11, after its FPO shares listed on the bourses.
● Aditya Birla Group and Vodafone Group had invested around ₹1.7 trillion in the Indian telecom
industry.
● Before the FPO, more than 75% of the ₹30,000 crore the company raised in the past five years
came from the two promoter groups
Despite uncertainties, services exports grow 11.4% in 2023: UNCTAD
● India's services exports jumped 11.4 per cent to $345 billion in 2023 despite global economic
uncertainties, while China's shipments from the sector contracted by 10.1 per cent to $381 billion,
according to a UNCTAD report.
● Sectors that contribute to India's services export growth include travel, transport, medical and
hospitality.
● With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed
.
$7.9 trillion in 2023, a quarterly bulletin of UNCTAD said.

● The leading exporters among developing economies include India, China, Singapore, Turkiye,
Thailand, Mexico, and Saudi Arabia
● India's services imports, however, dipped marginally by 0.4 per cent to $248 billion last year.
Commercial paper issuances touch a 4-year high of Rs 1.2 lakh crore
● Issuances of commercial papers (CP) have hit a four-year high, touching Rs 1.2 lakh crore, a level
seen last in July-Sept 2019, as companies seek to diversify funding sources.
● Higher CP issuances follow RBI's November mandate to increase risk weights on bank loans given
to higher rated NBFCs, a Crisil report.
● CP issuances are still not as high as 2018 levels when they touched Rs 3.1 lakh crore in July-
September, as NBFCs look for other funding avenues like securitisation, where volumes peaked in
FY24 at Rs 1.9 lakh crore.
IREDA granted 'Navratna' status
● Public sector Indian Renewable Energy Development Agency (IREDA) the government had granted
it the 'navratna' status, according to a company filing with the stock exchanges.
● This takes the total number of navratna PSEs to 17.
● These companies have the autonomy to invest up to ₹1,000 crore.
● IREDA is a Non-Banking Financial Institution engaged in promoting, developing and extending
financial assistance for setting up projects relating to new and renewable sources of energy and
energy
About Navratna Company

● A Navratna company is a public sector undertaking in India that has been granted Navratna status.
● These companies play a significant role in the nation's economy and hold a prestigious position
compared to other PSUs, both domestically and globally.
● Once designated as Navratna, these companies are given authority in areas such as capital
expenditure, investment in joint ventures or subsidiaries and human resources management.
About IREDA :
● Established: March 1987
● Headquarters : New Delhi, India
● Chairman & MD : Pradip Kumar Das
● IREDA is an Indian public sector enterprise which provides financial assistance and other services to
.
projects related to renewable sources of energy and energy efficiency/conservation.

● The company offers financial assistance to projects that produce electricity using fresh and
sustainable sources.
● The government holds a 75% ownership stake in the company.
Up 2.3 times in 15 years, India’s Chinese import bill to rise further
● India’s imports from China crossed $101 billion in 2023-24 from about $70 billion in 2018-19.
● The country’s share of India’s industrial goods imports has risen from 21% to 30% over 15 years,
according to a report by the Global Trade Research Initiative (GTRI) which reckoned that Chinese
imports will rise sharply in coming years.
● Goods imports from China have risen 2.3 times faster than India’s total imports over 15 years, the
GTRI study noted, adding that China is the top supplier in eight major industrial sectors, including
machinery, chemicals, pharmaceuticals, and textiles, belying the general perception that Chinese
imports are high only in the electronics sector.
● Moreover, imports from China have been even faster than the overall import growth as China’s
exports to India grew 2.3x faster than India’s overall import from all countries.
AWARDS AND HONOUR

Vineet Jain awarded the ENBA Lifetime Achievement Award 2023 for news broadcasting
• Vineet Jain, managing director of the Times Group, received the Exchange4Media News
Broadcasting Awards (ENBA) Lifetime Achievement Award 2023 for his significant contributions to
Indian television news.
• Jain attributed the achievement to the collective efforts of teams at the Times Group.
• The ENBA jury included former Supreme Court judge AK Sikri, Anurag Batra, chairman and editor-
in-chief of exchange4media and BusinessWorld, Dhanendra Kumar, chairman of Competition
Advisory Services (India) LLP, and Alok Mehta, former president of the Editors Guild of India.
REC wins SKOCH ESG Award 2024 in Renewable Energy Financing Category
leading NBFC has been bestowed with the SKOCH ESG Award 2024 in the 'Renewable Energy
Financing' category.
• Through various initiatives and achievements, REC has committed to numerous sustainable
projects and signed various MOUs for green projects.
.
• Furthermore, REC has engaged in one-on-one discussions with various developers of green
projects, spanning sectors such as solar, wind, Pumped Storage Projects, E-mobility, RE
manufacturing, green ammonia and green hydrogen, and battery storage.
About REC Limited

• REC is a 'Maharatna' Central Public Sector Enterprise under the Ministry of Power, and is
registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing
Company (IFC).
SJVN has been honoured with the 15th CIDC Vishwakarma Awards 2024 for its outstanding
contribution to the field of Corporate Social Responsibility.
• SJVN Limited has won two prestigious awards at the 15th CIDC Vishwakarma Awards 2024,
instituted by the Construction Industry Development Council.
• SJVN has been conferred the ‘Achievement Award for Creating Social Development & Impact’ and
‘CIDC Partners in Progress Trophy’.
• On behalf of SJVN, the awards were received by CGM (HR), Shri Baljeet Singh during a ceremony
held at India Habitat Centre, New Delhi.
‘All We Imagine as Light’ is the 1st Indian film to compete at Cannes in 30 years
• Writer-director Payal Kapadia‘s debut fiction feature ‘All We Imagine As Light’ will compete for the
top honours during the upcoming edition of Cannes Film Festival, scheduled to be held from May
14 to 25.
• All We Imagine As Light, Kapadia’s feature film debut, will be the first Indian film to compete for the
Palme d’Or award after nearly three decades.
• The film features Kani Kusruthi and Diya Prabha in the lead roles.
Prestigious John Dirks Gairdner global health award for Dr Gagandeep Kang
• India’s Dr Gagandeep Kang has been awarded the 2024 John Dirks Canada Gairdner Global
Health Award for her achievements in global health research.
• It is the most well-recognised global health award.
• The John Dirks Award in global health is awarded by the Gairdner Foundation in Canada.
Kannada poet Mamta G. Sagar wins international award
.
• Mamta G. Sagar, a Bengaluru-based Kannada poet, writer, academic and activist, has recently
won the World Literary Prize from the World Organization of Writers (WOW) for her contributions to
the world of literature.
• Dr Sagar, a facilitator at Srishti Manipal Institute of Art, Design, and Technology, known for her
involvement in diverse forms of transdisciplinary creative writing and cultural industries, received
the award on April 6 at a ceremony in Abuja, Nigeria.
Dr. Agarwal’s Eye Hospital Wins Best Scientific Poster Award 2024: Advancing Eye Care Innovation
• Dr Agarwal's Eye Hospital recently announced that their accomplished research team have been
honoured with the prestigious 'Best Scientific Poster Award' at the 2024 Annual Meeting of the
American Society for Cataract and Refractive Surgery (ASCRS).
• This recognition comes in light of their groundbreaking study on 'The efficacy of RevitalVision
vision-training software in improving best-corrected vision in stable keratoconus patients post
Crosslinking surgery.'
Indian Expert Ashwini Patil Joins Britain’s Dementia Research Team

• Dr. Ashwini Keshavan, a neurologist of Indian origin, has been chosen to be part of a top-notch
research team in the UK.
• This prestigious team has been entrusted with the crucial task of conducting research to detect
dementia through blood tests and gathering more evidence to support this approach.
• Dr. Ashwini Keshavan is currently working with a team that is dedicated to studying a biomarker
called p-tau217, which has the potential to be a reliable indicator of Alzheimer's disease.
Aleksei Navalny and Yulia Navalnaya have been honored with the Freedom Prize.
• The Ludwig Erhard Summit, a leading German forum, will award the Freedom Prize of the Media
to the late Russian dissident Aleksei Navalny and his wife, Yulia Navalnaya.
• This prestigious award is presented annually to public figures who have made significant
contributions to freedom of expression, dialogue, and democracy.
• Previous recipients of the Freedom Prize include Russian politician Garry Kasparov in 2023 and
Ukrainian President Volodymyr Zelenskyy.
Jain spiritual leader honoured with the US President’s Gold Volunteer Service
● The US President’s Gold Volunteer Service Award was presented to India's Jain spiritual leader
Lokesh Muni.
.
● This award has been given to him for his contribution to public welfare and humanity.
● Senior Democratic Congressman Brad Sherman presented the Presidential Award Golden Shield
and Certificate of Honor to Lokesh Muni at the US Capitol.
● Muni is the Founder of Ahimsa Vishwa Bharati and the World Peace Center in India.
● In 2003, the President’s Volunteer Service Award was established by the President's Council on
Service and Civic Engagement to recognize the vital role volunteers play in America's strength
and national identity.
● AmeriCorps selects the awardees of the President’s Volunteer Service Award.
● AmeriCorps is an independent agency of the U.S. government that engages more than five
million Americans in service through a variety of stipend volunteer work programs in a variety of
sectors.
Surinder S Jodhka wins Adiseshiah Awards 2024
● Malcolm and Elizabeth Adiseshiah Trust has announced the annual Dr Malcolm Adiseshiah
National Award 2024 for two professors.
● Professor Surinder S Jodhka, School of Social Sciences, JNU, was selected for the Malcolm
Adiseshiah Award (2L & citation) while Vikas Kumar, associate professor, Azim Premji University,
will get the Elizabeth Adiseshiah Award (1L & citation).
Venkaiah Naidu, Mithun, Usha Uthup, others conferred Padma awards

● Former vice president M Venkaiah Naidu, founder of Sulabh International Bindeshwar Pathak and a
host of other prominent persons were conferred with Padma Awards by President Droupadi Murmu
at the Rashtrapati Bhavan.
● Naidu, Pathak, who was given the award posthumously, and renowned Bharatanatyam dancer
Padma Subrahmanyam were conferred with the Padma Vibhushan.
● Pathak's wife Amola received the award from the President.
● Actor Mithun Chakraborty, singer Usha Uthup, former Uttar Pradesh governor Ram Naik and
industrialist Sitaram Jindal were conferred with the Padma Bhushan.
● Gujarat-based cardiologist Tejas Madhusudan Patel, veteran Marathi film director Dattatray
Ambadas Mayaloo alias Rajdutt and Chandreshwar Prasad Thakur, a distinguished Physician
known globally for his contribution to research and policy on Kala Azar, were given the Padma
Bhushan.
.
● Padma Shri awardees include master carpet weaver from Uttar Pradesh Khalil Ahamad, Madhya
Pradesh's folk singer Kaluram Bamaniya, Bangladeshi singer Rezwana Choudhury Bannya and
Chikankari embroidery artist from Uttar Pradesh Naseem Bano.
● Rajbongshi folk singer from West Bengal's Cooch Behar Gita Roy Barman, tennis player Rohan
Bopanna, spiritual figure from Tripura Chitta Ranjan Debbarma, banker Kalpana Morparia,
philanthropist Kiran Nadar, social worker from Haryana Gurvinder Singh and folk singer from Uttar
Pradesh Urmila Srivastava were also given the Padma Shri.
‘Sunflowers Were The First Ones To Know’ By FTII Student Selected At 77th Cannes Film Festival
● “Sunflowers were the first ones to Know”, a film by Chidanand Naik, a student of the Film and
Television Institute of India (FTII), has been selected in the 'La Cinef” Competitive section of 77th
Cannes Film Festival, France.
● The festival is to be held from 15th to 24th May 2024.
● The section is an official section of the festival aimed at encouraging new talents and recognising
films from film schools across the world.
● This is the only Indian film selected in ‘La Cinef’ section of Cannes.
● It is a story of an elderly woman who steals the village's rooster, which throws the community into
disarray.
● This is the first time a film by a student from a 1-year Television course has been selected at the
prestigious Cannes Film Festival.
Renowned Bangladeshi Singer Rezwana Choudhury Bannya Receives Prestigious Padma Shri Award
● Bangladeshi Singer Rezwana Choudhury received the Padma Shri Award.
● Renowned Bangladeshi singer Rezwana Chowdhury Bannya received the prestigious Padma Shri
Award.
● Droupadi Murmu presented the Padma Vibhushan, Padma Bhushan, and Padma Shri Awards for
the year 2024 at the Civil Investiture Ceremony held at Rashtrapati Bhavan.
● She received the award for her contribution to the field of Art. She is a practitioner of Rabindra
Sangeet.
Ratan Tata conferred with prestigious KISS Humanitarian Award by Achyuta Samanta
● Ratan Tata has received the KISS Humanitarian Award 2021.
● Founder of KIIT and KISS (Kalinga Institute of Social Sciences), Achyuta Samanta, presented the
award during the award ceremony.
.
● Tata Group Chairman N. Chandrasekaran and three-time Grammy Award winner Ricky Kej attended
the award ceremony.
● Tata’s receipt of the award was originally announced in 2021.
● However, it was delayed due to the COVID-19 pandemic.
● Ratan Tata is Chairman Emeritus of the Tata Group.
About KISS Humanitarian Award
● The KISS Humanitarian Award was established in 2008 by Achyuta Samanta.
● It aims to acknowledge organizations and individuals that epitomize humanitarian work on a global
scale.
Kenya’s Mwaniki and Lilian take the honours in TCS World 10K Bengaluru
● Kenyan runners Peter Mwaniki (28:15) and Lilian Kasait (30:56) cruised to the international elite
men’s and women’s titles respectively in the 16th edition of the Tata Consultancy Services World
10K Bengaluru.
● Mwaniki shifted gears at the 7.5 km mark to leave his countryman Hillary Chepkwony (28:33)
behind.
● It was a similar story for Lilian, who pulled away from the nearest rival Emmaculate Achol (31:17) at
the 7.1 km mark.
● Mwaniki and Lilian were unable to break the event records (men - 27:38, women - 30:35) on this
new route.

Rakesh Mohan appointed as a member of World Bank economic advisory panel
• President Emeritus and Distinguished Fellow of the Centre for Social and Economic Progress
(CSEP), Rakesh Mohan has been appointed by the World Bank Group to serve on the World Bank
Group’s Economic Advisory Panel.
• The World Bank panel will be chaired by Lord Nicholas Stern, the IG Patel Professor of Economics
and Government at the London School of Economics, while World Bank Group Chief Economist
Indermit Gill will co-chair the panel.
• The panel will focus on strategic issues for the World Bank Group in relation to their objectives,
research agenda and actions.
About World Bank :
.

• President : Ajay Banga (14th President)
• The World Bank Group consists of 5 institutions ie
• International Bank for Reconstruction and Development (IBRD)
• International Development Association (IDA)
• International Finance Corporation (IFC)
• Multilateral Investment Guarantee Agency (MIGA)
• International Centre for Settlement of Investment Disputes (ICSID)
Cleartrip Announces Mahendra Singh Dhoni as Brand Ambassador
• Cleartrip, a Flipkart company, has onboarded Mahendra Singh Dhoni as its new brand
ambassador.
• The collaboration marks a historic milestone for Cleartrip as it joins forces with Mahendra Singh
Dhoni and advocates to make the right choices in travel.
• Under the bucket of ‘ClearChoice,’ the brand aims to inspire travellers to simplify decision-making
and ensure seamless and anxiety-free travel experiences.
About Cleartrip :
• CEO : Ayyappan R
• Cleartrip is a global online travel company.
• The company operates an online travel aggregator website for booking flights, train tickets, hotel
reservations, and activities in India and the Middle East countries.
Uber Promotes Pradeep Parameswaran to Global Business Development Position
• Ride-hailing platform Uber has promoted Pradeep Parameswaran, previously the Asia Pacific
head, to a global role overseeing business development.
• In addition to leading business development, Parameswaran will also oversee Uber's enterprise
product and a new 'fleets' program team.
• Parameswaran will relocate to New York to assume his new global role.
• Currently, Uber’s India and South Asia operations are led by Prabhjeet Singh, who will continue in
the role.
.
Sanjay Nayar, Former Head of KKR India, Assumes the Presidency of ASSOCHAM
• The Associated Chambers of Commerce and Industry of India (ASSOCHAM) announced that
Sanjay Nayar, the Founder-Chairman of Sorin Investment Fund and a veteran of global financial
markets, has taken over the role of President.
• He has replaced Ajay Singh, Co-Founder of low-cost airline SpiceJet, who has completed his
tenure at the apex industry chamber.
• Sanjay Nayar is the Founder and Chairman of Sorin Investment Fund.
About ASSOCHAM :
• Headquarters : New Delhi, India
• The ASSOCHAM is a non-governmental trade association and advocacy group.
Judith Suminwa Tuluka Becomes Democratic Republic of Congo's 1st Female Prime Minister
• Judith Suminwa Tuluka has been appointed as the first woman Prime Minister of Congo.
• Her appointment was made by President Felix Tshisekedi of the Democratic Republic of Congo,
succeeding former Prime Minister Jean-Michel Sama Lukonde.
• Tuluka will take over the position at a time when violence in the mineral-rich east of the nation,
which borders Rwanda, is on the rise.
• Tuluka is an economist who previously worked for the United Nations Development Programme
(UNDP).
About Democratic Republic of Congo :
• Capital: Kinshasa
• Currency: Congolese Franc.
• The Democratic Republic of the Congo is a country in Central Africa.
• By land area, the DRC is the second-largest country in Africa and the 11th-largest in the world.
Former Chief of UK's National Cyber Security Centre Lindy Cameron Expected to Be Appointed as UK's
New High Commissioner to India
• Lindy Cameron, former chief of the United Kingdom’s (UK’s) National Cyber Security Centre, is
expected to be appointed as the country’s new high commissioner to India.
.
• If confirmed, Cameron will be the first woman to serve as the British high commissioner in New
Delhi.
• Cameron’s appointment is anticipated at a time of increasing closeness in the India-United
Kingdom (UK) relationship.
• Alex Ellis, who served as high commissioner until this month, will move on to Spain for his next
posting.
Joyshree Das Verma Assumes Presidency of FICCI Ladies Organisation

• Joyshree Das Verma took over as the 41st National president of FICCI Ladies Organisation (FLO),
the oldest women-led and women-centric business chamber of SouthEast Asia for 2024-25.
• As a public figure, she holds the position of Honorary Consul of Israel, Northeast India.
• Joyshree Das Verma’s entrepreneurial role is defined as Director of Kaapro Management
Solutions Pvt Ltd, her pan India entrepreneurial HR Consulting company in which she is a Co-
promoter.
• Under the theme 'Collective Vision, Collaborative Action for the year 2024-25, FLO endeavour is to
build a strong, inclusive community dedicated to sustainable progress, fostering individual growth,
and inspiring impactful change.
Atul Mehra Appointed Managing Director & Chief Executive Officer of Axis Capital
• Axis Capital has appointed Atul Mehra as the managing director (MD) and chief executive officer
(CEO).
• The appointment is subject to receipt of requisite approvals.
• Mehra, who was formerly with JM Financial, will oversee both the investment banking and
institutional equities businesses of Axis Capital.
• His appointment comes after the departure of Axis Capital’s current MD & co-CEO Salil Pitale.
• In December, JM Financial roped in Chirag Negandhi — who was the co-CEO at Axis Capital — as
its MD.
Tata International Names Rajeev Singhal as Managing Director

• Tata Group's global trading and distribution arm, Tata International has appointed Rajeev Singhal
as its Managing Director (MD).
.
• Singhal whose appointment to the new position is effective from April 1, 2024 succeeds Anand
Sen, who superannuated on March 31, 2024.
• Singhal brings over 36 years of experience to his new position, having transitioned from Tata Steel,
where he served in various positions including Vice President for marketing and sales for flat
products.
• Before this new role, Singhal was Executive Director and Chief Operating Officer (COO) at Tata
International.
Lindy Cameron, U.K. Cyber Security Chief, Appointed as Next High Commissioner to India
• Lindy Cameron, the former Chief Executive Officer (CEO) of the United Kingdom’s (UK’s) National
Cyber Security Centre, will take over as the country’s first-ever woman high commissioner to India.
• Cameron will be succeeding Alex Ellis, who served nearly 3 years between 2021 and 2024 and
oversaw the commencement of trade talks between India and the UK.
• Cameron’s new role begins as New Delhi and London are resetting their bilateral relationship,
which was marked, in part, by External Affairs Minister S. Jaishankar’s visit to London in November
2023.
• The sister of India’s first Prime Minister Jawaharlal Nehru, Pandit served in that capacity until 1961.
Senior IPS Officer Anurag Kumar Appointed as Joint Director of Central Bureau of Investigation
• Anurag Kumar, a senior Indian Police Service (IPS) officer, has been appointed to the position of
Joint Director (JD) at the Central Bureau of Investigation (CBI).
• The appointment was made as per an order from the Personnel Ministry.
• His tenure in this position is approved until February 24, 2027.
• Anurag Kumar belongs to the 2004 batch of the Indian Police Service (IPS) and is from the Assam-
Meghalaya cadre.
• He is currently serving in the Bureau of Police Research and Development (BPR&D).
About CBI :
• The CBI is the domestic crime investigating agency of India.
• It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions.
Former Prime Minister Gilani Chosen as Chairman of Pakistan's Senate
.
• Former Pakistan Prime Minister and senior Pakistan Peoples Party (PPP) leader Yusuf Raza
Gilani was elected unopposed as chairman of the Pakistani Senate days after the PPP and
Pakistan Muslim League-Nawaz-led (PML-N) coalition swept the elections.
• PML-N's Saidal Khan Nasir was elected as the deputy chairman .
• Senate Secretary Qasim Samad Khan confirmed their election to the top roles in the upper house
of Pakistan parliament.
Financial Services Institutions Bureau Selects Manoj Mittal from IFCI as Next Small Industries
Development Bank of India Chief
• Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks
and financial institutions, has recommended the name of IFCI Limited (previously Industrial
Finance Corporation of India) Managing Director (MD) Manoj Mittal as Small Industries
Development Bank of India (SIDBI) Chairman and Managing Director (CMD).
• He will replace Sivasubramanian Ramann as SIDBI CMD.
• Ramann had joined SIDBI, the principal financial institution for MSMEs in India, in April 2021 for a
3-year period.
About SIDBI :
About FSIB :
• Came into effect : 01st July 2022, replacing Banks Board Bureau (BBB).
• FSIB is headed by the former secretary of the Department of Personnel and Training (DoPT),
Bhanu Pratap Sharma.
• FSIB which recommends persons for appointment as directors and non-executive chairpersons at
state-owned banks and financial institutions
Suryoday Small Finance Bank Appoints Deepak Kumar Sharma as Additional Director
.
• The Board of Directors of Suryoday Small Finance Bank have appointed Deepak Kumar Sharma
as an Additional Director (under the Independent category) on the Board of the Bank, with effect
from April 11, 2024.
• Sharma's appointment is based on the recommendation of the Nomination and Remuneration
Committee and is subject to the approval of the bank's shareholders.
• Sharma's tenure as an Additional Director is set for a period of 5 consecutive years.
About Suryoday Small Finance Bank :
• MD & CEO : Baskar Babu Ramachandran
Ashish Chauhan, CEO of NSE, and Zoho Founder Sridhar Vembu Appointed as UGC Members for 3-
Year Term
• The central government has appointed Ashish Kumar Chauhan, Chief Executive Officer (CEO) and
Managing Director of the National Stock Exchange (NSE), and Sridhar Vembu, Founder of Zoho,
as members of the University Grants Commission (UGC), India’s regulator for higher education,
taking the body’s strength to 8 members from just 4 .
• The Department of Higher Education in the Education Ministry also appointed Sachidananda
Mohanty, former vice chancellor of the Central University of Odisha and serving vice chancellor of
the National Institute of Educational Planning and Administration Shashikala Gulabrao Wanjari to
the Commission, with a tenure of 3 years, or till further orders.
About Chauhan & Vembu :
• Chauhan, apart from being the NSE CEO and MD, is also a Chancellor of the University of
Allahabad.
• Vembu has a doctorate in electrical engineering from Princeton University and is the founder and
CEO at Zoho, a cloud-based business software firm.
About UGC :
• The UGC is a statutory body under the Department of Higher Education, Ministry of Education,
.
National Investment & Infrastructure Fund appoints rajiv dhar as 1st chief investment officer
• India's National Investment & Infrastructure Fund (NIIF), supported by the federal government, will
appoint Rajiv Dhar to the newly created position of Chief Investment Officer (CIO).
• This appointment reflects NIIF's commitment to strengthening investment decisions and enhancing
oversight on deals.
• In his new role, Rajiv Dhar will serve as a voting member on the investment committee and
valuation panel for all funds managed by NIIF.
About NIIF :
• Founded : February 2015
• The NIIFL is an Government owned company which maintains infrastructure investments funds for
international and Indian investors anchored by the Government of India.
• NIIF is 49% owned by the Indian government and has more than $4.9 billion in assets under
management, making it the country’s biggest infrastructure fund.
• The fund’s backers also include Abu Dhabi Investment Authority and Canada Pension Plan
Investment Board.
RBL Bank Appoints Murali Ramakrishnan as Independent Director for 4-Year Term
• Private sector lender RBL Bank formerly known as Ratnakar Bank Limited appointed Murali
Ramakrishnan as Non-Executive Independent Director with immediate effect for 4 years.
• Ramakrishnan has 37 years of experience in the Banking and Financial Service Industry (BFSI)
sector.
• He headed various businesses and control functions at ICICI Bank Ltd for over two decades.
About RBL Bank :
• Established : August 1943
• MD & CEO : R Subramaniakumar
Manoj Panda Appointed as Member of the 16th Finance Commission by the Central Government
• Manoj Panda, formerly the director at the Institute of Economic Growth, has been appointed as a
full-time member of the 16th Finance Commission by the Government of India (GoI).
.
• The 16th Finance Commission is responsible for formulating recommendations on the revenue-
sharing formula between the central government and states for the 5-year period starting from
April 2026.
• Panda's tenure as a member of the Commission will last from the date of assuming office until
either the submission of the Commission's report or October 31, 2025, whichever comes earlier.
Wipro Names Malay Joshi as new Chief Executive Officer for 'Americas 1' Strategic Market Unit
• IT major Wipro Limited has appointed company veteran Malay Joshi as the chief executive officer
(CEO) of its largest and fastest-growing market, Americas 1, the company informed the stock
exchanges.
• Joshi succeeds Srini Pallia, who was appointed Wipro’s CEO and Managing Director (MD) on April
6,2024 following Thierry Delaporte’s resignation.
• Under Thierry Delaporte's tenure, Wipro implemented a new operating model with 4 Strategic
Market Units (SMUs): Americas 1, Americas 2, Europe, and Asia Pacific Middle East Africa
(APMEA).
About Wipro :
• Founded : 29 December 1945
• Founder : M.H.Hasham Premji
• Executive Chairman : Rishad Premji
Kuldip Narayan Takes Over as Managing Director of National Capital Region Transport Corporation
• Kuldip Narayan, an Indian Administrative Service (IAS) officer and Joint Secretary at the Ministry of
Housing and Urban Affairs (MoHUA) in the Government of India, has assumed additional charge
as Managing Director (MD) of the National Capital Region Transport Corporation (NCRTC).
• Narayan has been associated with the NCRTC as a Government Nominee Director from
December 2022.
About NCRTC :
• Founded : 21 August 2013
• NCRTC, a joint venture of Govt of India and the States of NCT of Delhi, Haryana, Rajasthan and
Uttar Pradesh, under the administrative control of the Ministry of Housing and Urban Affairs, is
mandated to implement the Regional Rapid Transit System (RRTS) project across the National
.
Capital Region, ensuring a balanced and sustainable urban development through better
connectivity and access.
• At present, a 34-km section between Sahibabad and Modi Nagar North having eight stations of
India’s first RRTS corridor between Delhi-Ghaziabad-Meerut, is operational.
• The construction is advancing swiftly on the remaining sections, and the entire 82-km long corridor
is scheduled to be operational by June 2025.
Simon Harris Becomes Ireland's Youngest Prime Minister

• Simon Harris has been elected as the youngest Prime Minister (Taoiseach) of the Republic of
Ireland.
• In Ireland, the prime minister is called Taoiseach.
• Harris succeeds Leo Varadkar, who resigned from the position in March 2024.
• At the age of 37, Simon Harris became the youngest Prime Minister in Ireland's history.
• He is set to hold the post till the general election which is set to be held in March 2025.
About Ireland :
• Capital : Dublin
• Currency : Euro
Justice Aniruddha Bose To Head National Judicial Academy Post Retirement As Supreme Court Judge
• Justice Aniruddha Bose has been appointed as the Director of the National Judicial Academy
(NJAC) in Bhopal.
• The appointment was announced by Chief Justice DY Chandrachud during a ceremonial bench
honouring Justice Bose's retirement from the Supreme Court.
• Justice Bose's tenure in the Supreme Court concluded on April 10, after which he assumed the
role at NJAC.
About National Judicial Academy :
• Location : Bhopal, Madhya Pradesh
Srinivas Pallia to Take Over as Chief Executive Officer of Wipro Following Resignation of Managing
Director Thierry Delaporte
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• Wipro Chief Executive Officer (CEO) and managing director (MD) Thierry Delaporte has resigned
from his position and Srinivas Pallia will succeed him as Wipro's new MD and CEO.
• The Board of Directors noted the resignation of Mr Thierry Delaporte with effect from April 6,
2024.
• He will be relieved from the employment of the Company with effect from the close of business
hours on May 31, 2024.
• Pallia will take over as the new CEO and MD from April 7, 2024, for a period of 5 years.
About Wipro :
• Founder : M.H.Hasham Premji
Peter Pellegrini Emerges Victorious in Slovakia's Presidential Race

• In Slovakia, Peter Pellegrini ,the ruling nationalist won the Presidential Election defeating
opposition independent Ivan Korcok.
• Pellegrini is a close ally of populist Prime Minister Robert Fico.
• As 99.9% of ballots have been counted, Peter Pellegrini received 53% of the vote, while Korcok
got 47% votes.
• Pellegrini succeeded Zuzana Čaputová, the first female President of Slovakia.
About Slovakia :
• Prime Minister : Robert Fico
• Capital: Bratislava
• Currency: Euro.
New Appointments Made to Securities Appellate Tribunal: P S Dinesh Kumar as new Presiding Officer
and Dheeraj Bhatnagar as new Technical Member
• The Finance Ministry appointed P S Dinesh Kumar, a retired judge, as the presiding officer of the
Securities Appellate Tribunal (SAT) for a tenure of 4 years.
• The ministry has also appointed Dheeraj Bhatnagar as a technical member of the tribunal for 4
years or till he reaches the age of 67, whichever is earlier.
• Bhatnagar retired as principal chief commissioner of Income Tax, Delhi.
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Meenesh Shah was Chosen as Chairman of the National Cooperative Dairy Federation of India Limited
• The apex body of dairy cooperatives, National Cooperative Dairy Federation of India Limited.
(NCDFI), in its Board elections, unanimously elected Dr. Meenesh Shah as the Chairman.
• Dr. Meenesh Shah is also serving as Director on the Board of the International Dairy Federation
(IDF).
• The election was conducted by Praveen Chaudhary, IAS, District Collector of Anand who served
as the Returning Officer.
About NCDFI :
• NCDFI is a national-level apex dairy cooperative registered on December 7, 1970 and is governed
under the provisions of the Multi-State Cooperative Societies (Amendment) Act, 2023.
• It has 20 Regular Members, 14 Associate Members and the National Dairy Development Board
(NDDB) as its Institutional Member.
Surinder Chawla Steps Down as Paytm Payments Bank Managing Director & Chief Executive Officer
Citing Personal Reasons
• Surinder Chawla, Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments
Bank (PPBL) has resigned as the head of the company on account of “personal reasons and to
explore better career prospects”.
• Chawla will be relieved from the payments bank from the close of business hours on June 26,
2024.
• Before joining Paytm Payments Bank, Chawla worked at RBL Bank, where he served as Head of
Branch Banking.
• In February 2024, Paytm founder Vijay Shekhar Sharma stepped down from the board of Paytm
Payments Bank.
About Paytm Payments Bank :
• Headquarters : Noida, Uttar Pradesh
Former Revenue Secretary Tarun Bajaj Named Chair of US-India Tax Forum by US-India Strategic
Partnership Forum (USISPF)
.
• The US-India Tax Forum, an initiative of the US-India Strategic Partnership Forum (USISPF) has
appointed former Revenue Secretary and ex-Secretary of Economic Affairs Tarun Bajaj as the
head of the US-India Tax Forum.
• Bajaj, aged 61, joined USISPF as an Advisor to the Board of Directors in January 2024 before
assuming his new role.
• Bajaj is a member of the Indian Administrative Service (IAS), 1988 batch, Haryana Cadre.
Kristalina Georgieva Secures Second Term as IMF Chief Prior to Spring Meetings
● The Executive Board of the International Monetary Fund (IMF) has chosen Kristalina Georgieva
to serve as the IMF Managing Director for a second consecutive 5-year term, commencing on
October 1, 2024.
● The announcement was made just before IMF and World Bank spring meetings in Washington
next week, which are expected to draw thousands of delegates, observers and journalists from
the fund’s 190 member countries.
● Georgieva, a national of Bulgaria, has been the IMF’s Managing Director since 2019.
About IMF :
Senior Bureaucrat Vandita Kaul Appointed As Secretary, Department Of Posts
● In a significant development, Senior Bureaucrat Vandita Kaul, a seasoned professional with a
wealth of experience in financial services and banking, has been appointed as the Secretary of
the Department of Posts.
● She will succeed Vineet Pandey upon his superannuation.
About India Post :
● India Post is an Indian government-operated postal system in India and is the trade name of the
Department of Post under the Ministry of Communications.
Arjun Mohan Steps Down as Byju's India Chief Executive Officer; Raveendran to Oversee Daily
Operations
● Arjun Mohan, the Chief Executive Officer (CEO) of Byju’s India, resigned from his position a little
.
over 6 months after he took over, with founder Byju Raveendran resuming daily operational
responsibilities.
● Mohan will now transition to an external advisory role, lending his deep EdTech expertise to the
company and its founders during this transformation phase.
● Byju's 3.0 Initiative: The reorganization signifies the beginning of Byju's 3.0, aiming for a leaner
and more agile organization capable of quickly adapting to changing market dynamics, especially
in hyper-personalized education.
● Arjun Mohan assumed the role of CEO in September 2023, previously serving as the CEO of
UpGrad.
● The company has also announced a major rejig of its business, consolidating it into three
focused divisions -The Learning App, Online classes and Tuition centres, and Test-prep.
About Byju’s :
● Founded : 2011
BharatPe Appoints Nalin Negi as Full-Time CEO Following Sameer's Departure in 2023
● Fintech firm BharatPe has elevated its interim Chief Executive Officer (CEO) and chief financial
officer Nalin Negi to full-time chief executive officer.
● Negi assumed the role of interim CEO in January 2023 following the resignation of then CEO
Suhail Sameer.
About Bharatpe :
● Founded : 2018
● BharatPe is an Indian fintech company that sells digital payment and financial services to small
merchants and Grocery stores.
Saurabh Garg Assumes Additional Charge as Secretary of the Ministry of Statistics and Programme
Implementation
● The Central Government has given Indian Administrative Service (IAS) officer Saurabh Garg the
additional charge of Secretary of the Ministry of Statistics and Programme Implementation
(MoSPI).
● This comes following the completion of the tenure of Dr. G. P. Samanta.
● The decision to appoint Saurabh Garg was made through an order issued by the Department of
.
Personnel & Training (DoPT), which oversees administrative matters related to civil servants in
India.
● Garg will serve in this post till the appointment of a regular incumbent or further directives.
● Garg is currently the Secretary in the Department of Social Justice & Empowerment.
Vivek Aggarwal Granted 6-Month Extension as Director of Financial Intelligence Unit – India
● Vivek Aggarwal, an Indian Administrative Service (IAS) officer, has been granted a 6-month
extension on his additional charge as Director of the Financial Intelligence Unit – India (FIU-
India).
● The Appointments Committee of the Cabinet (ACC), as per an order from the DOPT, approved
the Department of Revenue’s proposal to extend Vivek Aggarwal’s (IAS) tenure.
● He is currently serving as an Additional Secretary in the Department of Revenue under the

Ministry of Finance.
About Financial Intelligence Unit – India :
● Established : November 18, 2004

● The Financial Intelligence Unit – India works within the Government of India’s Department of
Revenue.
● It collects financial intelligence regarding crimes covered by the Prevention of Money Laundering
Act, 2002.
UCO Bank Board Promotes Rajesh Upadhyay to General Manager Role
● The UCO Bank Board elevated Mr. Rajesh Upadhyay, Zonal Head, Bhopal Zonal Office to
General Manager of the Bank.
● Currently, he serves as the Zonal Head of the Bhopal Zonal Office.
About UCO Bank :
● MD & CEO : Ashwani Kumar
Vice Admiral Dinesh Kumar Tripathi was appointed as the next Chief of the Naval Staff
.
● Vice Admiral Dinesh Kumar Tripathi, currently serving as the Vice Chief of the Naval Staff, has
been appointed as the next Chief of the Naval Staff by the Government of India (GoI).
● His appointment will be effective from April 30, 2024.
● He will succeed the present Chief of the Naval Staff, Admiral R Hari Kumar, PVSM, AVSM, VSM,
who retires from service on the same day.
Government Approves Appointments of 3 Additional Secretaries
● The Appointments Committee of the Cabinet (ACC) has approved the appointment of 3 Indian
Administrative Service (IAS) officers to the Additional Secretary level positions.
Details of the Appointments :
● Rakesh Kumar Verma:Rakesh Kumar Verma, a 1993-batch IAS officer of the Punjab cadre, has
been appointed as Additional Secretary in the Department of Water Resources, River
Development & Ganga Rejuvenation under the Ministry of Jal Shakti.
● Presently, he is serving as Additional Secretary in the Ministry of Tourism.
● Suman Billa : Suman Billa, a 1996-batch IAS officer of the Kerala cadre, has been appointed as
Additional Secretary in the Ministry of Tourism.
● He replaced Rakesh Kumar Verma upon his appointment as Additional Secretary in the
Department of Water Resources, River Development & Ganga Rejuvenation.
● Aradhana Patnaik:Aradhana Patnaik, a 1998-batch IAS officer of the Jharkhand cadre, has been
appointed as Additional Secretary in the Department of Health & Family Welfare.
● Himani Pande:Himani Pande, also a 1998-batch IAS officer of the Jharkhand cadre, has been
appointed as Additional Secretary in the Department for Promotion of Industry and Internal Trade
(DPIIT).
● Kamal Kishore Soan:Kamal Kishore Soan, a 1998-batch IAS officer of the Jharkhand cadre, has
been appointed as Additional Secretary in the Ministry of Labour & Employment.
About ACC :
● Chairman : Narendra Modi
Singapore Prime Minister Lee Hsien Loong to Step Down, Lawrence Wong to Assume Leadership
● Singapore Prime Minister Lee Hsien Loong will step down from his position on May 15, after two
decades in office.
● Lawrence Wong will succeed him as the next Prime Minister.
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About Singapore :
● President : Tharman Shanmugaratnam
● Currency : Singapore dollar
Kartik Aaryan was appointed as an ambassador for the Bundesliga Dream India Project
● Indian Bollywood actor Kartik Aaryan has been appointed as an ambassador for the Bundesliga
Dream India project.
● The Bundesliga Dream India project officially commenced this weekend.
● It is a collaboration between Bundesliga and BigHit, a multiple-sports platform dedicated to
identifying and promoting sporting talent across India.
● Objective: The primary objective of the Bundesliga Dream initiative is to select multiple squads
from the U-13 and U-15 age groups in India.
About Bundesliga:
● The Bundesliga, also known as the Fußball-Bundesliga or 1. Bundesliga, is a professional
association football league in Germany, renowned for its competitive and high-quality football.
Intel Names Santhosh Viswanathan as Head of Its Newly Established India Region
● Intel, a leading United States (US)-based semiconductor company, has appointed Santhosh
Viswanathan as the Managing Director for its newly established India region.
● Roles & Responsibilities ; By appointing Viswanathan to this pivotal position, Intel seeks to
enhance its responsiveness and efficacy in addressing the evolving needs and challenges
specific to India.
● Viswanathan, an Intel veteran of about 21 years, took on his role as Vice President and
Managing Director in July 2022 but will now lead the country as a distinct region within Intel's
global structure.
Why has India become a separate region?
● Intel designated India as a unique region within its Sales, Marketing, and Communications Group
(SMG) in March 2024.
● This strategic move reflects the need to address India's rapid growth and emerging business
opportunities.
● By establishing India as a separate region, Intel aims to enhance its focus, engagement, and
responsiveness to the local market.
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● In addition to that appointment, Intel also announced the appointment of Hans Chuang as the
General Manager of the Sales, Marketing and Communications Group (SMG) for the Asia Pacific
and Japan (APJ) region.
About Intel :
● Headquarters : Santa Clara, California, United States
● CEO : Patrick P. Gelsinger
Reserve Bank of India Approves Ajith Kumar KK as Managing Director & Chief Executive Officer of
Dhanlaxmi Bank
● The Reserve Bank of India (RBI) has approved the appointment of Ajith Kumar K.K as the
managing director (MD) and chief executive officer (CEO) of Dhanlaxmi Bank for 3 years with
effect from the date of taking charge.
● Kumar is set to succeed J.K. Shivan, whose term was set to end on 29 January 2024.
● Earlier in January, the RBI had approved Dhanlaxmi Bank's request to extend Shivan's tenure
until a successor was in place.
● The appointment of Kumar comes at a time when the Bank is planning a Rights Issue of up to
₹300 Crore (including premium) to the eligible Shareholders.
About Dhanlaxmi Bank Limited :
OpenAI Appoints Pragya Misra as Its First Employee in India
● OpenAI has hired Pragya Misra as its first employee in India, appointing her as the head of
government relations.
● This development comes amid the ongoing elections in the country to elect a new government,
which will play an important role in shaping regulations concerning artificial intelligence (AI) in the
world's most populous nation.
● Role and Responsibilities : Pragya Misra will lead OpenAI's public policy affairs and partnerships
in India, focusing on government relations and regulatory frameworks.
About OpenAI :
.

● Headquarters : San Francisco, California, United States
● CEO : Sam Altman
● Chairman : Bret Taylor
Narpat Singh (IRTS) Named Railway Adviser at the Indian High Commission in Dhaka, Bangladesh
● The Government has approved the appointment of Narpat Singh from the Indian Railway Traffic
Service (IRTS) to the post of Railway Adviser in the High Commission of India, Dhaka,
Bangladesh.
● The Appointments Committee of the Cabinet (ACC) approved the Ministry of Railways' proposal
for Singh's appointment.
● Singh will serve as Railway Adviser for 3 years from the date he assumes charge of the post or
until further orders, whichever is earlier.
● Previously, he was posted as Director (Traffic Transpiration) in the Railway Board.
Citroen India ropes in MS Dhoni as brand ambassador

● French automaker Citroen, a Stellantis brand, has signed popular Indian cricketer Mahendra
Singh Dhoni as its brand ambassador.
● The company has paid INR 7 crore in the initial phase, sources aware of the matter told ETAuto.
● Dhoni made his debut as captain for Team India in 2007.
● Over the years, he has won many accolades and has received various awards and honours,
including the Rajiv Gandhi Khel Ratna, Padma Shri, Padma Bhushan, ICC ODI Player of the
Year, and many others.
● Currently, it sells three more models including C3, eC3 and C3 Aircross.
● Since its market entry, the company has recorded wholesales of about 17,000 units for its four
products.
Parekh resigns as HDFC Life Chairman: Keki Mistry to chair the board
● Banker Deepak S Parekh resigned from the post of chairman and non-executive director
of HDFC Life Insurance on April 18, 2024.
● Now, Keki Mistry has been appointed the Chairman of HDFC Board in place of Deepak Parekh.
.
● Deepak S Parekh received the Padma Bhushan from the Government of India in 2006 for his
contributions to industry and trade.
Keki Mistry becomes chairman of HDFC board:
● HDFC Life Insurance Company has appointed Keki Mistry as the new chairman of the board.
● The company's board has unanimously approved Keki Mistry's appointment as Chairman of
HDFC Life Insurance with immediate effect.
● This decision will be implemented after getting the permission of the Insurance Regulatory and
Development Authority (IRDA).
Setu, a Pine Labs Company, Names Former SAP India Executive Anand Raisinghani as Chief
Executive Officer
● Pine Labs-owned API infrastructure company Setu appointed Anand Raisinghani as the
company’s new chief executive officer (CEO).
● Raisinghani, who succeeds Sahil Kini at the company, will work in the space of open banking,
account aggregation, API platforms, embedded finance, and data gateway.
About Setu :
● Founded : 2018
● CEO : Anand Raisinghani
● Setu has received a Certificate of Registration from the Reserve Bank of India (RBI) to operate
as an Account Aggregator.
● Setu is an application programming interface (API) company providing services in account
aggregation, data gateway, identity verification, embedded finance, Open Network for Digital
Commerce (ONDC), WhatsApp Business, and Bharat Bill Payment Service (BBPS).
● Pine Labs acquired Setu in 2022 for approximately $75 million.
About Pine Labs:
● Pine Labs is a merchant commerce omnichannel platform operating across India, the Middle
East, and Southeast Asia.
Hero MotoCorp's CTO Arun Jaura Resigns; Vikram Kasbekar to Head R&D
● Hero MotoCorp has announced the resignation of Arun Jaura, Chief Technology Officer (CTO),
from his position to pursue personal endeavors.
● It will be effective from April 30, 2024.
.
● Vikram Kasbekar, in addition to his existing role as Head of Global Product Planning, will assume
the responsibility of leading the R&D function.
About Hero MotoCorp Limited :
● Executive Chairman & Whole-time Director : Pawan Munjal
Nidhi S Jain (IA&AS) Appointed as Chief Vigilance Officer at the Cotton Corporation of India
● The Central Government has approved the appointment of Nidhi S Jain as Chief Vigilance Officer
(CVO) of Cotton Corporation of India Limited (CCI).
● The appointment is for an initial period of 3 years, starting from the date she assumes charge or
until further orders, whichever occurs earlier.
● The order for her appointment was issued by the Department of Personnel & Training (DoPT).
● Before her appointment as CVO at Cotton Corporation of India Limited, she was Director of Audit
(Environment & Scientific Departments) in Mumbai, Maharashtra.
About CCI :
● Founded : 1970
● Chairman & Managing Director : Lalit Kumar Gupta
● The CCI is a central public sector undertaking under the ownership of the Ministry of Textiles,
Government of India, engaged in diverse activities related to trade, procurement, and export of
cotton.
Gajanan Kale Appointed as Chief Executive Officer of Tata Power Delhi Distribution
● Gajanan Sampatrao Kale has been appointed as the new chief executive officer (CEO) of Tata
Power Delhi Distribution Limited (TPDDL).
● Kale replaces Ganesh Srinivasan, who served as CEO of TPDDL from 2019 until his departure.
About TPDDL :
● Headquarters : Delhi, India
● Tata Power Delhi Distribution Limited (TPDDL) is an Indian electric utility serving the Northern
part of Delhi.
● It is a joint venture between the Government of NCT of Delhi and Tata Power Company Limited,
.
which holds a 51% majority stake in the venture.

● The company was the first in the country to initiate an Automated Metering Infrastructure based
Auto Demand Response programme to help manage grid stress and peak demand.
Sakshi Mittal appointed as Director in Department of Personnel & Training
● Sakshi Mittal has been selected for the appointment as Director in the Department of Personnel
and Training (DoPT).
● The appointment is under the Central Staffing Scheme for a period of 5 years from the date she
assumes charge or until further orders, whichever occurs earlier.
Naima Khatoon Becomes First Woman Appointed as Vice-Chancellor of Aligarh Muslim University in
Over a Century
● Naima Khatoon has been appointed as the Vice-Chancellor of Aligarh Muslim University (AMU)
for a term of 5 years, making her the first woman to hold the top post in over 100 years.
● Khatoon was appointed after obtaining approval from President Draupadi Murmu, who is the
Visitor of the University.
● In view of the implementation of the Model Code of Conduct (MCC), permission was also sought
from the Election Commission of India (ECI).
About Aligarh Muslim University :
● AMU was established in 1875 as Muhammadan Anglo-Oriental College and became Aligarh
Muslim University after the Aligarh Muslim University Act in 1920.
● In September 2020, AMU completed 100 years as a university, making it one of the oldest
universities in India.
● Before Naima Khatoon, AMU never had a woman Vice-Chancellor.
● Begum Sultan Jahan, appointed in 1920, is the only woman to have served as the AMU
Chancellor.
Appointments Committee of the Cabinet Approves Appointments of Multiple Officers to Joint
Secretary/Equivalent Positions
● The Appointments Committee of the Cabinet (ACC) has approved the appointments of several
officers for Joint Secretary / Joint Secretary equivalent-level posts.
Here is the full list of newly appointed officers:
➢ Muthukrishnan Sankaranarayanan (IAS) has been appointed as Joint Secretary in the
Department of Atomic Energy (DAE), replacing Richa Bagla (IAS).
.
● He will serve for a combined tenure of 7 years, up to October 24, 2026, or until further
orders, whichever is earlier.
➢ Shobhit Gupta (IRSEE) has been appointed as Joint Secretary in the Ministry of Civil Aviation,
replacing Satyendra Kumar Mishra (IRS).
● His tenure is up to March 1, 2025, or until further orders, for an overall tenure of 5 years.
➢ Vimal Anand (IRS) has been appointed as Joint Secretary in the Department of Commerce,
replacing Nidhi Mani Tripathi (IAS).
● His tenure is for a combined seven-year period, up to December 9, 2026, or until further
orders.
➢ Monalisa Dash (IFoS) has been appointed as Joint Secretary in the Ministry of Development of
North Eastern Region (MoDNER), replacing Harpreet Singh (IPoS).
● She will serve for a five-year tenure up to October 11, 2026, or until further orders,
whichever is earlier.
➢ Rahul Jain (IAS) has been appointed as Joint Secretary in the 16th Finance Commission.
● His tenure is for 5 years up to November 3, 2024, which is further extendable for two
additional years, or until further orders.
➢ Ranjit Singh (IA&AS) has been appointed as Joint Secretary in the Ministry of Food Processing
Industries, replacing Sanoj Kumar Jha.
● He will serve for a 7-year tenure up to March 21, 2028, or until further orders, whichever is
earlier.
➢ Rajeev Kumar (IOFS) has been appointed as Joint Secretary in the Ministry of Home Affairs,
replacing Sumita Singh (CSS).
● His tenure is up to March 5, 2025, or until further orders.
➢ Vrunda Manohar Desai (IRS) has been appointed as Joint Secretary in the Ministry of
Information & Broadcasting, replacing Vikram Sahay (IRS).
● Her tenure is for 5 years up to April 12, 2027, or until further orders.
➢ Navin Agarwal (IRPS) has been appointed as Joint Secretary in the Department of Investment &
Public Asset Management, replacing Parama Sen (IA&AS).
● His tenure is up to March 14, 2027, or until further orders.
➢ Mahendra Kumar (IRSEE) has been appointed as Joint Secretary in the Ministry of Labour &
Employment.
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➢ Vivek Kumar Bajpai (IRSME) has been appointed as Joint Secretary in the Ministry of Mines,
replacing UC Joshi (IRTS).
● His tenure is for five years up to March 22, 2027, or until further orders.
➢ Rajiv Manjhi (CSS) has been appointed as Director at Institute of Secretariat Training &
Management (ISTM) under the Department of Personnel & Training (DoPT), replacing Sumita
Singh (CSS).
● His tenure is up to his superannuation on September 30, 2028, or until further orders.
➢ Jai Prakash Pandey (IRPS) has been appointed as Additional Secretary in the Union Public
Service Commission (UPSC), replacing Pushpendra Rajput (IAS).
● His tenure will be for a combined seven-year period up to February 20, 2027, or until
further orders.
➢ Abhishek Bhagotia (IAS) has been appointed as Joint Secretary in Lokpal, replacing Navin
Agarwal (IRPS).
● His tenure is for a total of 5 years up to April 3, 2027, or until further orders.
➢ Lal Chhandama (CSS) has been appointed as Joint Secretary in the Department of Rural
Development, replacing Abhishek Bhagotia (IAS).
● His tenure is for 5 years or until further orders.
➢ Debolina Thakur (IA&AS) has been appointed as Joint Secretary & Financial Adviser in the
Department of Social Justice & Empowerment, replacing Sanjay Pandey (ICAS).
➢ Rahul Kashyap (CSS) has been appointed as Secretary in the National Commission for Safai
Karamcharis (NCSK) under the Department of Social Justice & Empowerment, replacing RK
Khandelwal (IAS).
Recent News :
● In April 2024,Rakesh Kumar Verma, a 1993-batch IAS officer of the Punjab cadre, was appointed
as Additional Secretary in the Department of Water Resources, River Development & Ganga
Rejuvenation under the Ministry of Jal Shakti.
About ACC :
.
Reserve Bank of India’s Deputy Governor T Rabi Sankar Granted 1-Year Extension
● The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Reserve
Bank of India (RBI) Deputy Governor T Rabi Sankar for 1 year from May 3, 2024, to May 2025.
● He was appointed as the RBI Deputy Governor in May 2021 for a period of 3 years.
About RBI :
● Deputy Governors : M.D.Patra; M Rajeshwar Rao; J Swaminathan and T Rabi Sankar
Srei Infrastructure Finance Appoints Hardayal Prasad as Chief Executive Officer and Managing Director
● Srei Infrastructure Finance Limited (SIFL) has appointed Hardayal Prasad as its new Managing
Director (MD) and Chief Executive Officer (CEO).
● This change in leadership comes under the new management of the state-owned National Asset
Reconstruction Company Limited (NARCL).
● The Kolkata-based Kanorias previously controlled the twin companies of SIFL and Srei
Equipment Finance Company till RBI superseded their boards over alleged mismanagement in
October 2021 and subsequently initiated IBC proceedings.
● However, NARCL successfully acquired the companies under the Insolvency and Bankruptcy
Code (IBC) initiated by RBI to resolve over Rs 32,000 crore debt of the NBFCs.
About Srei Infrastructure Finance Limited (SIFL) :
● Srei began its journey in 1989 as an asset financing NBFC
● Chairman of the board of directors of SREI Infrastructure Finance : Hemant Kanoria
● SIFL is a financial institution providing a bouquet of services, which include construction and
mining equipment finance, advisory and development solutions and insurance broking.
Bajaj Auto Announces New Leadership Team to Drive Technological Innovation
● Abraham Joseph has been appointed as the Managing Director of Chetak Technology Limited, a
wholly-owned subsidiary of Bajaj Auto known for its pioneering work in electric vehicles (EVs).
● In his most recent role, Abrahm served Bajaj Auto as the Chief Technology Officer.
● In addition to Abraham Joseph’s appointment as the MD of Chetak Technology Ltd., Bajaj Auto
also announced the appointment of Ramtilak Ananthan as the Chief Technology Officer of Bajaj
Auto Limited.
.
About Bajaj Auto Limited :

● Headquarters : Pune, Maharashtra, India
● Chairman, MD & CEO : Rajiv Bajaj
Papua New Guinea Names Colonel Edison Napyo as Its First Defence Adviser to India
● Colonel Edison Napyo has been appointed as the first Defence Advisor to India from Papua New
Guinea (PNG).
● This is a key step towards improving defence cooperation between India and PNG.
● PNG’s acting Chief of Defence Force Commodore Philip Polewara gave Col Edison Napyo a
farewell on April 17, 2024.
● Prime Mininster Shri Narendra Modi visited Papua New Guinea (PNG) in May 2023.
● He attended the third summit of the Forum for India Pacific Islands Cooperation (FIPIC).
About Forum for India Pacific Islands Cooperation (FIPIC)
● Members: FIPIC includes Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of
Micronesia, Nauru, Niue, Samoa, Solomon Islands, Palau, PNG, Tonga, Tuvalu, and Vanuatu.
● India's Role in FIPIC: India is strengthening its engagement with Pacific Island nations through
FIPIC, focusing on regional cooperation and partnerships.
About Papua New Guinea :
● Prime Minister : James Marape
● Capital : Port Moresby
● Currency : Kina
Axis Bank reappoints Amitabh Chaudhry as chief for a further period of 3 years
● The Board of Axis Bank approved the re-appointment of Amitabh Chaudhry as Managing
Director & CEO of the Bank, for a further period of 3 years with effect from January 1, 2025 up to
December 31, 2027.
● This re-appointment is subject to approval of the Reserve Bank of India (RBI) and approval of the
members, in terms of applicable laws.
● The Bank’s board also approved re-appointment of Meena Ganesh and Gopalaraman
Padmanabhan as Independent Directors of the bank for a second term of 4 years.
● Ganesh and Padmanabhan’s appointment will be with effect from August 1, 2024 up to July 31,
.
2028 and October 28, 2024 up to October 27, 2028, respectively, subject to approval of the
members of the Bank.
About Axis Bank :
● Tagline : Badhti Ka Naam Zindagi ("Progress is the Name of Life")
IIFL Samasta Finance Appoints Three New Members to Its Board
● IIFL Samasta Finance, a non-banking microfinance company (NBFC-MFI), has appointed 3
members including former National Bank for Agriculture and Rural Development (NABARD)
Chairman, Govinda Rajulu Chintala to its Board of Directors.
● This appointment reflects the company’s strategic intent to enhance its governance structure and
drive further growth and innovation within the microfinance sector.
● The other two members appointed to the board are R Venkataraman, a co-promoter of the IIFL
Group, and Kalengada Mandanna Nanaiah, former Managing Director of Equifax Credit
Information Services.
● Venkataraman has been appointed as an Additional Director (non-executive), while Chintala and
Mr. Nanaiah has been appointed as Additional Directors in non-executive and Independent
capacities, respectively.
● With the addition of these 3 members, the Board of Directors at IIFL Samasta Finance will now
comprise a total of 6 members.
About IIFL Samasta :
● Managing Director : Venkatesh. N
Financial Services Institutions Bureau Recommends Rana Ashutosh Kumar Singh as State Bank of
India's Managing Director and Asheesh Pandey as Indian Bank's MD
● The Financial Services Institutional Board (FSIB), responsible for appointing directors to state-
owned banks and financial institutions, has recommended Rana Ashutosh Kumar Singh for the
role of Managing Director (MD) at State Bank of India (SBI) and Asheesh Pandey for the position
of Managing Director (MD) & Chief Executive Officer (CEO) at Indian Bank.
● Rana Ashutosh Kumar Singh is currently serving as the Deputy Managing Director (Retail-
.
Personal Banking & Real Estate) at SBI.

● Asheesh Pandey, currently an executive director at Bank of Maharashtra (BoM), will succeed
Shanti Lal Jain upon his superannuation.
● Currently, India’s largest bank has 4 MDs -- Challa Sreenivasulu Setty, Managing Director
(International Banking, Global Markets & Technology), Alok Kumar Choudhary, Managing
Director (Risk, Compliance & SARG), Ashwini Kumar Tewari, Managing Director (Corporate
Banking & Subsidiaries) and Vinay M Tonse, Managing Director (Retail Business & Operations)
and one chairman.
About FSIB :
● FSIB is headed by former Department of Personnel and Training (DoPT) Secretary Bhanu Pratap
Sharma.
● The final decision on the FSIB recommendation would be taken by the Appointments Committee
of the Cabinet headed by Prime Minister Narendra Modi.
● Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile
Oriental Bank of Commerce, RBI's former executive director Deepak Singhal, and Shailendra
Bhandari, ex-MD of erstwhile ING Vysya Bank.
Motilal Oswal AMC appoints Prateek Agrawal as MD and CEO
● Motilal Oswal Asset Management Company (MOAMC) Limited has appointed Prateek Agrawal
as managing director (MD) and chief executive officer (CEO) of the company.
● He will be replacing Navin Agarwal, who is returning to the parent company.
● Prateek, who is currently executive director, joined MO AMC in October 2022.
● Also, Akhil Chaturvedi, currently Chief Business Officer of MOAMC, has been elevated to the
position of executive director.
● Niket Shah, currently a Fund Manager for specific schemes at Motilal Oswal Mutual Fund, has
been promoted to Chief Investment Officer (CIO).
● All these appointments and role changes are effective from April 26, 2024.
About Motilal Oswal AMC :
● Chairman : Raamdeo Agrawal
● Motilal Oswal Asset Management Company Ltd. is promoted by Motilal Oswal Financial Services
Limited (MOFSL).
IRS Officer Sunil Kumar Yadav Appointed as Director at Ministry of Housing and Urban Affairs
.
● Sunil Kumar Yadav, an Indian Revenue Services (IRS-IT) officer from the 2010 batch, has been
appointed as Director in the Ministry of Housing and Urban Affairs, Delhi.
● According to an order issued by the Department of Personnel & Training (DoPT), Yadav's
appointment is for a period of 5 years from the date he assumes charge or until further orders,
whichever comes first.
About Ministry of Housing and Urban Affairs :
● Cabinet Minister : Hardeep Singh Puri
● Minister of State : Kaushal Kishore
Sarvadanand Barnwal Appointed as Director in the Department of Land Resources
● Sarvadanand Barnwal, an officer from the Indian Statistical Service (ISS), has been selected for
appointment as Director in the Department of Land Resources.
● The appointment is under the Central Staffing Scheme (CSS), which facilitates the recruitment of
officers for central government positions from various services.
● According to the Department of Personnel & Training (DoPT) order issued Barnwal's
appointment is for a period of 5 years from the date he assumes the position or until further
orders, whichever comes first.
Pakistan's Foreign Minister Ishaq Dar Named as Deputy Prime Minister
● Pakistan’s Foreign Minister Ishaq Dar was appointed as the country’s Deputy Prime Minister.
● According to a notification issued by the Cabinet Division, the appointment was made by Prime
Minister Sharif “with immediate effect and until further orders”.
● The appointment comes at a time when PM Shehbaz and Dar, along with other ministers, are in
Saudi Arabia to attend the World Economic Forum’s (WEF) special meeting on Global
Collaboration, Growth and Energy.
● The Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) agreed to a
power-sharing deal to form a coalition government despite the former prime minister Imran Khan-
backed Pakistan Tehreek-e-Insaf-backed independents winning a majority of the 266-member
National Assembly.
● This is not the first time a Deputy Prime Minister has been appointed in Pakistan.
● Chaudhry Parvez Elahi served as Deputy Prime Minister during the tenure of the Pakistan
Peoples Party (PPP) from June 25, 2012, to June 29, 2013.
About Pakistan:
.
● Capital: Islamabad
● Currency: Rupee
● President: Asif Ali Zardari
Public Enterprises Selection Board Appoints Darla Sunil Kumar as Director of Finance at South Eastern
Coalfields Limited
● Darla Sunil Kumar has been selected as the next Director of Finance for South Eastern
Coalfields Limited (SECL), a Public Sector Undertaking (PSU) under the Ministry of Coal.
● He has been recommended for the post by the Public Enterprises Selection Board (PESB).
● Role and Responsibilities: As Director (Finance) of SECL, Kumar will:
➢ Serve as a member of the Board of Directors, reporting directly to the Chairman and
Managing Director (CMD).
➢ Be responsible for overseeing the organization's financial operations, including
accounting, budgeting, and financial planning.
➢ Formulate and implement financial policies and strategies to ensure financial health and
compliance with regulations.
➢ Presently, he is serving as General Manager (Fnance) in Northern Coalfields Limited
(NCL).
About SECL :
● Founded : 1985
● Headquarters : Bilaspur, Chhattisgarh, India
● Chairman & MD : Dr Prem Sagar Mishra
● SECL is the largest coal producing company of India.
● It is a "Miniratna" Company, and one of eight fully owned subsidiaries of Coal India Limited.
MOUS AND AGREEMENT

J&K Bank partners with Paymart to launch Virtual ATM Facility
• J&K Bank announced its partnership with Paymart India Pvt Ltd to introduce a Virtual ATM (VATM)
facility.
• The partnership aims to introduce cardless cash withdrawals for the Bank’s customers through
their neighbourhood merchants.
.
• The goal of the collaboration is to enhance banking convenience for its customers across its areas
of operations especially in J&K and Ladakh.
• It is to be noted that the Virtual ATM facility has a limit to the transaction amounts.
About Jammu & Kashmir Bank Limited
• Baldev Prakash, MD and CEO, J&K Bank.
• Jammu & Kashmir Bank Limited is an Indian private sector bank headquartered in Srinagar,
Jammu and Kashmir.
• J&K Bank was incorporated on October 1, 1938.
PhonePe Teams Up with Star Health for Health Insurance Options

• Star Health and Allied Insurance Ltd has tied up with PhonePe to offer comprehensive insurance
policies with monthly and annual EMI options.
• Under the partnership, payment options are available on the PhonePe app with coverage up to Rs
1 crore.
• This is a first-of-its-kind initiative in the industry.
• Users can also opt to pay their premium with the UPI AutoPay mandate with a monthly EMI option.
• The standalone health insurer is planning to roll out more such offerings across its indemnity and
benefit products.
• Anand Roy, MD and CEO, Star Health Insurance, Vishal Gupta, CEO, PhonePe Insurance.
Meta partners with PTI to expand its fact-checking program in India

• Social media giant Meta announced its collaboration with the Press Trust of India (PTI) under its
third-party fact-checking programme in India.
• The partnership will enable PTI to identify, review, and rate content as misinformation across Meta
platforms.
• Meta's fact-checking programme in India includes partnerships with independent fact-checking
organisations that assist users in identifying, reviewing, verifying information, and helping to
prevent the spread of misinformation on its platforms.
• Under the initiative, Meta partners with fact-checkers certified through the International Fact-
Checking Network (IFCN), who identify, review, and rate viral misinformation across Facebook,
Instagram, and WhatsApp.
.
IIT Kharagpur partners with Jindal Stainless to execute R&D projects in metallurgical research and
development
• Indian Institute of Technology Kharagpur has signed an MoU with stainless steel manufacturer
Jindal Stainless to advance metallurgical research and development.
• They will work together on metallurgical projects, such as process optimisation, materials
characterisation, and primary alloy production.
• Under the terms of the MoU, IIT Kharagpur will provide technical consultancy and engage in
academic and industrial research to enhance productivity and process improvement at Jindal
Stainless.
CCPA partners with ASCI to bolster advertising regulation in India

• The Advertising Standards Council of India (ASCI) announced a tie-up with the Central Consumer
Protection Authority (CCPA) to strengthen regulation around misleading ads.
• This objective is central to the missions of both ASCI and the Central Consumer Protection
Authority (CCPA) when it comes to the issue of misleading advertisements.
• The CCPA has requested ASCI to forward any advertisement that is non-compliant with the ASCI
Code and could potentially violate the Consumer Protection Act, 2019, along with its
accompanying guidelines.
SJVN partners with IIT Patna to improve Tunneling Project Performance using Advanced Geological
Models
• SJVN Limited has signed a Memorandum of Understanding (MoU) with the Indian Institute of
Technology Patna (IIT Patna) to use advanced geological models in SJVN's tunnelling projects,
thus significantly reducing time and cost overruns.
• One of the key outcomes of this partnership will be the development of predictive analytics
algorithms.
• These algorithms, leveraging integrated geotechnical data, will forecast potential risks and provide
early warning systems specifically tailored for tunnelling projects.
Indian Oil, Panasonic Energy ink pact for lithium-ion cell Joint Venture
• India's top refiner Indian Oil Corp has entered a pact with Panasonic Energy to form a joint venture
to manufacture lithium-ion cells in India.
.
• The agreement follows an initial understanding between the two companies on lithium-ion cells in
January.
• Lithium-ion batteries, which power electric vehicles (EV) and are used to store energy, are
expected to play a major role in India's goal to be a net zero emitter of greenhouse gases by 2070.
• The country is expected to see sales of more than 10 million EVs a year by 2030, according to an
annual Economic Survey.
Reliance And Disney Announce Strategic Joint Venture To Bring Together The Most Compelling And
Engaging Entertainment Brands In India
• Billionaire Mukesh Ambani's Reliance Industries Ltd. (RIL) and The Walt Disney Company have
agreed to merge their digital streaming and television assets in India, creating an $8.5-billion
media behemoth spanning at least 100 channels across entertainment and sports, and two digital
streaming platforms.
• The entity also has exclusive rights to sporting events like the Indian Premier League (IPL) and
Disney films and productions in India, as well as a diverse international content library.
Cochin Shipyard signs ship repair agreement with U.S. Navy
• Cochin Shipyard Limited (CSL) became the third Indian shipyard to enter into a Master Shipyard
Repair Agreement (MRSA) with the U.S., which will enable to repair of US Navy ships.
• Effective, MSRA is a non-financial agreement.
• With this agreement, India and the United States want to expand cooperation in ship repair and
maintenance to transform India into a regional hub.
• After Larsen & Toubro (L&T) and Mazagon Dock Shipbuilders Limited (MDL), the state-run
shipbuilding facility in Kochi is the latest.
Air India and BIAL sign agreement to develop Bengaluru airport as a hub
• Tata-owned Air India and Bangalore International Airport Ltd (BIAL) have entered into an
agreement intended to develop Bengaluru as a premier aviation hub for southern India.
• The idea would be to boost air travel connectivity to and from India over the next few years.
• Other Tata Group airlines – AIX and Vistara – and BIAL will collaborate to enhance international
connectivity, operational efficiency, and passenger experience over the next five years.
EU-India join forces to promote start-up collaboration on Recycling of e-vehicle batteries under Trade
and Technology Council
.
• The European Union (EU) and India launched an Expression of Interest (EoI) for startups working
in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event.
• The matchmaking aims to enhance the cooperation between European and Indian Small and
Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector.
• This initiative takes place under the India-EU Trade & Technology Council (TTC), announced by
India and the European Commission in New Delhi on 25th April 2022.
KABIL signed an MoU with CSIR-IMMT for technical collaboration on critical minerals
• Khanij Bidesh India Limited (KABIL) has signed an MoU with the Council of Scientific and Industrial
Research-Institute of Minerals and Materials Technology (CSIR-IMMT), aimed at fostering
technical and knowledge cooperation for Critical Minerals.
• The MoU was signed at the NALCO Corporate Office in Bhubaneswar
• According to the MoU, KABIL will use the technical expertise and services provided by CSIR-IMMT
to undertake various projects.
• KABIL, a joint venture company comprising National Aluminium Company Limited (NALCO),
Hindustan Copper Limited (HCL), and Mineral Exploration and Consultancy Limited (MECL),
operates under the aegis of the Ministry of Mines of Government of India.
BEL signs MoU with IIT Mandi

● Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with the Indian Institute
of Technology, Mandi, Himachal Pradesh, for cooperation in Research and Technology/Product
Development — in the areas of Semiconductors, Quantum Technologies and Drones.
● The MoU aims at leveraging the complementary strengths and capabilities of BEL and IIT-Mandi.
● It will support the indigenisation of products/solutions being supplied by BEL to its customers and
is in line with the Government of India’s ‘Make in India’ initiative.
About IIT Mandi
● Indian Institute of Technology Mandi is one among the eight, newer, second-generation IITs. It is
a research university located in Kamand Valley, Mandi district of Himachal Pradesh.
● Established in 2009, IIT-Mandi has in the last 15 years developed good infrastructure to foster
quality research in the fields of science and engineering.
● The institute ranks amongst the best technological institutions in the world and has contributed to
all sectors of technological development.
Engineers India inks MoU with Detect Technologies for AI-based monitoring of construction sites
.
● Engineers India has signed a memorandum of understanding (MoU) with Detect Technologies for
real-time artificial intelligence (AI) based monitoring of construction sites.
● Under the MoU, EIL and Detect Technologies will collaborate to provide real-time artificial
intelligence (AI) based monitoring for implementing safe practices and progress monitoring at
construction sites for various projects being executed by EIL.
● This MoU will facilitate the implementation, operation and maintenance of an AI-based solution
using cameras, drones, and cloud computing for maintaining a safe work environment at a site to
avoid loss of time accidents/injuries and monitor project progress.
About EIL
● Engineers India (EIL) is an engineering consultancy and technology licensing company in the
fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other
sectors of industry, having a DSIR-recognized R&D centre.
Jio Financial Services and BlackRock join hands for wealth management, broking business
● Jio Financial Services and BlackRock Group have entered into a 50:50 JV for wealth
management and broking businesses.
● The company (Jio Financial), BlackRock, Inc. and BlackRock Advisors Singapore Pte. Ltd. have
signed an agreement to form a 50:50 joint venture between the company and Blackrock, to
undertake wealth business including incorporation of a wealth management company and
subsequent incorporation of a brokerage company in India
● Jio and BlackRock had announced setting up a JV for asset management business in India in
July 2023.
● In October 2023, Jio Financial and BlackRock Management filed papers for their mutual fund with
the Securities and Exchange Board of India (SEBI).
● The application was under consideration for the regulator’s “in-principle approval” as of
December 2023.
About BlackRock Group
● BlackRock Asset Managers is one of the world’s largest asset managers.
● It previously operated in India in a JV with the DSP Group through DSP BlackRock Mutual Fund.
● The partnership ended in 2018, following which BlackRock announced its plans to re-enter India
with Jio Financial.
BPCL to link Noida airport with jet fuel pipeline
.
● State-run Bharat Petroleum Corporation (BPCL) has signed an agreement with Noida
International Airport to construct a pipeline for jet fuel supply.
● The agreement on February 20 proposes to lay a dedicated aviation turbine fuel (ATF) pipeline
from BPCL’s Piyala terminal to the tank farm at the airport for efficient fuel supply and reduction
in carbon emissions by eliminating the need for tanker lorry movements.
● The 34-km dedicated ATF pipeline, including 1.2 km inside the airport, will operate on a
common/contract carrier basis.
Veranda XL Learning acquires Logic Management Training Institute
● Veranda Learning Solutions Ltd. (VLS) announced that its subsidiary Veranda XL Learning
Solutions Pvt. Ltd. had entered into a business transfer agreement with Kochi-based Logic
Management Training Institute Pvt. Ltd. to acquire the latter’s business with effect from April 1.
● The payout will be made in tranches from FY25 to FY29.
● The total payout has a floor price of ₹46 crore and a maximum cap of ₹75 crore, the education
firm said in a regulatory filing.
● Logic Management is engaged in the business of providing training of students for competitive
examinations.
● In FY23, it posted a turnover of ₹16 crore and net profit of ₹92 lakh.
ReNew partners with JERA to evaluate joint development of green ammonia project in India
● ReNew Energy Global (ReNew) signed an initial agreement with JERA, Japan’s largest power
generation company, to jointly evaluate developing a green ammonia production project in India.
● Under the agreement, ReNew, through its subsidiary ReNew E-Fuels, and JERA will jointly
evaluate the development of a green ammonia production project in Paradip, Odisha.
● The project will utilize around 500 megawatts (MW) of high-capacity utilisation factor (CUF)
renewable energy to produce green hydrogen, a key feedstock for green ammonia.
● The project will likely have a production capacity of around 100,000 tonnes of green ammonia
annually by 2030.
Deloitte collaborates with Yotta Data Services to help clients develop innovative GenAI applications
● Deloitte India has announced an alliance with Yotta Data Services to provide clients access to
NVIDIA GPU computing infrastructure and accelerate the development of new AI applications.
● The alliance combines Deloitte’s deep AI experience and top AI talent with Yotta’s GPU cloud
platform to help clients quickly build new AI applications that unlock the full value and potential of
.
Generative AI (GenAI).
● The collaboration will bring world-class AI capabilities to organisations in India, where AI is
expected to contribute US$500 billion to India’s GDP by 2025 (10 percent of the country’s US$5
trillion GDP target) and ~US$1 trillion by 2035 (per INDIAai projections).
Indian Biogas Association joins hands with HAI to promote hydrogen
● The Indian Biogas Association (IBA) has partnered with the Hydrogen Association of India (HAI) to
promote bio-based energy solutions with a special emphasis on green and blue hydrogen.
● IBA and HAI have signed a memorandum of understanding (MoU) aimed at promoting the
production of green energy within the nation".
● This strategic alliance will facilitate comprehensive measures -- including training, capacity building,
and policy advocacy -- directed towards catalysing the promotion and advancement of bio-based
energy solutions with a special focus on green and blue hydrogen.
● The agreement is focussing on harnessing synergies from both associations, thereby catalysing the
continued growth of the growing bio-based energy sector.
Rashtriya Raksha University signs MoU with French Starburst Aerospace

● Gandhinagar-based Rashtriya Raksha University (RRU) and Starburst Aerospace of France entered
into a memorandum of understanding (MoU) to advance aerospace, defence, and homeland security
innovation.
● The MoU includes the creation of a venture capital fund of 100 million euros for aerospace, defence
and security technology and provides export promotion support for Indian start-ups to explore
international markets.
● The strategic alliance between RRU, Starburst, and Security and Scientific Technical Research
Association (SASTRA), a not-for-profit company set up by RRU, is aimed at fostering innovation and
driving advancements in the aerospace, defence and homeland security sectors.
Tata Power Solar Systems, Indian Bank partner to boost residential rooftops
● Tata Power Solar Systems announced its partnership with the state-owned Indian Bank to promote
the adoption of solar rooftops among residential consumers.
● The collaboration aims to facilitate financing solutions under the popular Pradhan Mantri Surya Ghar
Muft Bijli Yojana scheme for installations up to 3 KW, as well as extend support for installations
ranging from 3 to 10 KW under the regular scheme.
● Under the PM Surya Ghar Muft Bijli Yojana initiative, residential consumers can avail of loans up to
.
Rs 2 lakh at an annual interest rate of 7 per cent, in compliance with government regulations.
● For installations exceeding 3 KW up to 10 KW, TPSSL and Indian Bank present a tailored financing
solution that accommodates the diverse needs of homeowners.
● Eligible applicants can access loans up to Rs 6 Lakh, with a margin money requirement of 20 per
cent.
● Interest rates ranging from 8.4 per cent to 10.8 per cent per annum ensure competitive financing
options.
Juniper Green Energy, Tata Power sign PPA for 85 MW hybrid project in Maharashtra
● Juniper Green Energy has signed an agreement with Tata Power for the development of an 85-
megawatt hybrid power project in Maharashtra.
● The project is the first wind-solar energy project for the company.
● It will utilize both wind and solar resources by combining 51 MW of wind energy and 34 MW of solar
power.
● The power purchase agreement (PPA) with Tata Power is for the development of an 85 MW hybrid
power project in Maharashtra.
● The project is expected to generate a total of 215 million units (MUs) of electricity per year, and
contribute to the electrification of about 42,753 households.
● Juniper Green Energy is an independent renewable energy power producer and operator of solar,
wind and hybrid power projects.
Air India enters into codeshare pact with Japan's All Nippon Airways
● Air India has entered into a codeshare partnership with Japan's All Nippon Airways.
● With the codeshare, effective for travel from May 23, Air India and All Nippon Airways passengers
can fly to their desired destination by combining those flights between India and Japan with a single
ticket.
● Air India will add its 'AI' designator code on ANA's flights between Tokyo Haneda and Delhi as well
as Tokyo Narita and Mumbai.
● ANA will add its 'NH' designator code on Air India's flight between Tokyo Narita and Delhi.
● Now, Tata Group-owned Air India, which is expanding its presence, has codeshare partnerships with
15 airlines, including ANA .
C-DOT and IIT, Jodhpur sign agreement for “Automated Service Management in Network of 5G and
.
beyond Using AI”

● C-DOT, the premier Telecom R&D Centre of the Department of Telecommunications (DoT),
Government of India and Indian Institute of Technology, Jodhpur (IIT-J) signed an agreement for
“Automated Service Management in 5G and Beyond Networks Using AI”.
● The agreement is signed under the Telecom Technology Development Fund (TTDF) of the DoT,
which is designed to provide funding support to domestic companies and institutions involved in
technology design.
● The primary objective is to develop AI frameworks for automated network management, fault
detection, and diagnostic techniques by utilizing continuous information generated within the network
like 5G.
DARPG signs MoU with Cambodia Ministry of Civil Service for cooperation in HR development
● The Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry of
Personnel, Public Administration and Pensions signed a Memorandum of Understanding with the
Ministry of Civil Service, Cambodia on cooperation in the field of Human Resource Development in
Civil Service.
● The MoU advances the cordial and friendly ties between India and Cambodia in the field of Human
Resource Development in Civil Service over the next 05 years.
● The MoU was signed by Excellency Mr. Hun Many, Deputy Prime Minister and Minister of Civil
Service, on behalf of the Kingdom of Cambodia, and Dr. Devyani Khobragade, Ambassador of India
to the Kingdom of Cambodia, on behalf of Government of India at a ceremonial function held in
Phnom Penh.
About Cambodia
● Phnom Penh is the capital and most populous city of Cambodia.
● The riel is the currency of Cambodia.
Hindujas sign new India-UK healthcare pact with King's College London
● The Hinduja Group and King's College London announced a new partnership aimed at improving
healthcare outcomes in India and the UK, through training and research capacity building as well as
scholarships for Indian students.
● King's College London, Guy's & St. Thomas' NHS Foundation Trust, the Hinduja Foundation UK and
Mumbai's P.D. Hinduja Hospital & Medical Research Centre – run by the National Health &
Education Society – are involved in the new strategic partnership to advance two-way training,
.
education and research capacity building.

● It will lead to the creation of a new Hinduja-King's Health Partners Academy to drive forward the
development of new technologies to address global healthcare challenges.
SJVN Collaborates with THDC India Limited to develop a High-Performance Water Sports Academy at
Uttarakhand
● SJVN signed a Memorandum of Understanding (MoU) with THDC India Limited for the development
of a High-Performance Water Sports Academy in Tehri, Uttarakhand in the benign presence of Smt.
Geeta Kapur, CMD, SJVN and Sh. Shallinder Singh, Director (Personnel), THDC at New Delhi.
● Smt. Geeta Kapur stated that as per the MoU, SJVN will provide financial assistance of Rs. One
Crore to THDC for establishing an advanced gymnasium as an integral part of the High-performance
Water Sports Academy.
● The facility is being developed in collaboration with SJVN, THDC, ITBP, Indian Kayaking &
Canoeing Association, and Olympic Association of Uttarakhand for training national-level athletes for
national & international competitions in Kayaking & Canoeing.
● The MOU was signed by Sh. Awadhesh Prasad, GM (CSR) SJVN and Sh. Amardeep, GM (CSR),
THDC, India Limited.
India to ink 6G co-operation agreement with European body

● India's Bharat 6G is on the verge of finalizing a Memorandum of Understanding (MoU) with Europe's
Industry Alliance 6G.
● The nation is expanding its collaboration on advanced technologies under the EU-India Trade and
Technology Council.
● The upcoming partnership is expected to boost cooperation in the field of 6G technology
development.
● An agreement between Bharat 6G and Industry Alliance 6G is imminent.
What is the Bharat 6G Alliance?

● The Bharat 6G Alliance, established in 2023 by the Department of Telecommunications (DoT), "aims
to bring together Indian start-ups, companies, and the manufacturing ecosystem to establish
consortia that drive the design, development, and deployment of 6G technologies in India."
● DoT also noted B6GA's aspiration to position India at the forefront of global 6G innovation, by
accelerating patent creation related to standards within the country.
● Actively participating in international standardization organizations such as 3GPP and ITU, is also
.
included.
India's 6G vision document has been approved by ITU

● The Indian government is keen on forming alliances with other global 6G entities, to gain a deeper
understanding of the commercial and societal implications of 6G beyond its technical aspects.
● The aim is to build consensus on these needs and stimulate R&D.
● The Bharat 6G Alliance has also strengthened India's position in the International Telecom Union,
which has approved India's 6G vision document, enabling it to play a significant role in setting
standards.
RANKING AND INDEX

Ambani breaks into the top 10, ranked at 9th in Forbes global rich list
• Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the
richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes
2024 Billionaire List.
• Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023
ranking, according to Forbes.
• Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
• Adani, 61, was worth $90 billion in 2022 ranking.
• Facebook founder Mark Zuckerberg comes next in the list with a net worth of $177 billion.
Paradip Port emerges as the largest Indian major port in cargo throughput in FY24
• Surpassing Deendayal Port Authority in Gujarat, the State-owned Paradip Port in Odisha has
emerged as India's largest major port in terms of cargo volume with a cargo throughput of 145.38
million tonnes in FY24.
• Deendayal Port Authority has been holding the pole position in cargo handling among the 12 major
ports for the last 16 years.
India ranks number 10 in cybercrime
• According to new research surveying cybercrime experts from around the world, India ranked 10th
in cybercrime, with fraud involving people asking for advance fee payments as the most common
type.
.
• An international team of researchers has prepared a 'World Cyber Crime Index' which ranks nearly
100 countries.
• It identifies major hotspots according to different categories of cybercrime, including ransomware,
credit card theft, and scams.
India among 12 nations responsible for 60% of mismanaged plastic waste

• India is among the twelve countries responsible for 60 percent of the planet's mismanaged plastic
waste though the fast-developing South Asian nation's per capita plastic waste production is
among the lowest in the world, according to a new report.
• The Plastic Overshoot Day report by Swiss non-profit EA Earth Action also said global plastic
waste generation has risen by 7.11 per cent since 2021.
• The world is estimated to have generated 220 million tons of plastic waste this year, 70 million tons
of which will pollute the environment.
IndiGo world's third largest airline by mcap as shares hit record high
• IndiGo has now become the world's third-largest airline in terms of market capitalisation (m-cap)
with shares of the operator InterGlobe Aviation Limited soaring nearly five per cent to achieve a
lifetime record-high mark during intra-day.
• According to Bloomberg data, IndiGo surpassed United Airlines to become the sixth-largest airline
in the world during December 2023.
• Delta Air and Ryanair Holdings are the top two airlines with $30.4 billion and $26.5 billion m-cap,
respectively, according to Bloomberg.
JNU ranked as India's top university, IIM-Ahmedabad among world's top 25 for management studies:
QS Rankings
• The Jawaharlal Nehru University emerged as the highest-ranked Indian university in the list
announced by Quacquarelli Symonds (QS), the London-based higher education analytics firm, for
various subjects.
• Under the subject of Development Studies, JNU was ranked 20th in the QS World University
Rankings.
• The Indian Institute of Management (IIM) - Ahmedabad grabbed the next best rank of 22nd in the
subject of Business & Management Studies.
• The Indian Institute of Technology Bombay (IITB) secured 25th rank in the subject of Engineering -
Mineral & Mining.
.
• The Indian Institute of Technology Madras (IITM) secured 29th spot in Petroleum Engineering.
In 2022, India was at the top of WADA's list of doping offenders.
• According to the 2022 World Anti-Doping Agency (WADA) report, India has the highest percentage
of doping offenders among countries. Out of 4,064 samples collected from Indian athletes, 127
individuals tested positive for banned substances, which is 3.26% of the sample size.
• Trailing India, South Africa, and Bangkok’s laboratories were ranked second and third, with doping
failures at 2.04% and 1.93% respectively.
• India’s count surpassed sporting nations like Russia, the United States, Italy, and France.
India becomes net importer of finished steel in FY23-24, shows government data
• India was a net importer of finished steel during the 2023/24 financial year that ended on March
31, according to provisional government data.
• The country imported 8.3 million metric tons of finished steel between April and March, up 38.1
percent from a year earlier, the data showed.
• The world's second-biggest crude steel producer remains a bright spot globally with robust
demand from its construction and automotive sectors.
• India's steel demand is likely to stay strong as the government expects economic growth will
outpace the global economy in the next fiscal year.
IIT Bombay Ranks 45th In QS World University Rankings For Engineering & Technology
• IIT Bombay has ranked 45th in Engineering and Technology with an overall score of 79.1 out of
100 in the Quacquarelli Symonds (QS) World University Rankings by Subject for 2024.
• The Institute has been ranked in 4 out of 5 broad subject areas, which include Engineering &
Technology, Natural Sciences, Social Sciences and Management, and Arts and Humanities.
• The Institution improved its 2023 performance by two places in Engineering and Technology.
Number of telecom subscribers grows marginally to 119.7 cr in Feb 2024: TRAI

• The number of telecom subscribers in India increased 0.38 percent to 119.7 crore in February
2024 as compared to the previous month, according to a TRAI report published.
• The urban telephone subscription increased to 66.37 crore while rural subscription increased to
53.13 crore with a sequential growth rate of 0.40 percent and 0.34 percent, respectively.
.
• The total broadband subscribers also increased from 91.10 crore at the end of January to 91.67
crore at February-end, as per the monthly subscriber report published by Telecom Regulatory
Authority of India (TRAI).
India's unicorn count drops, a gap with China widens
• According to the 6th annual Hurun Global Unicorn Index 2024, India’s start-up ecosystem has
slowed with the number of unicorns declining for the first time since 2017.
• According to the report, Indian founders co-founded 109 unicorns outside of India in comparison to
just 67 in India.
• Unicorns founded outside of India, significantly all were in the USA (95), led by the Bay Area, with
4 in the UK, 3 in Singapore and 2 in Germany.
Delhi Airport is among the top 10 busiest in the world with 72.2 million flyers
● Delhi airport has been named among the world's top 10 busiest airports for 2023 in a list topped
by Hartsfield-Jackson Atlanta International Airport.
● The Indira Gandhi International Airport in the national capital is ranked tenth while Dubai and
Dallas airports are at the second and third positions, respectively, according to the Airports
Council International (ACI) World.
● From the top 10 rankings for total passenger traffic, five airports are in the US.
● At tenth place, Delhi airport handled more than 7.22 crore passengers in 2023.
India's population estimated at 144 crore, 24% in 0-14 age bracket: UNFPA report
● The United Nations Population Fund's (UNFPA) State of World Population - 2024 report --
"Interwoven Lives, Threads of Hope: Ending Inequalities in Sexual and Reproductive Health and
Rights" -- revealed that India's population is estimated to double in 77 years.
● India's population is estimated to have reached 144 crore, with 24 per cent in the 0-14 age
bracket.
● India leads globally with an estimated population of 144.17 crore, followed by China at 142.5
crore.
● The report further detailed that an estimated 24 per cent of India's population is aged 0-14 while
17 per cent is within the 10-19 age range.
● The segment aged 10-24 is estimated to constitute 26 per cent, with the 15-64 age group making
up 68 per cent.
● Additionally, 7 per cent of India's population is aged 65 years and above, with men having a life
.
expectancy of 71 years and women 74 years.

● The report further detailed that an estimated 24 per cent of India's population is aged 0-14 while
17 per cent is within the 10-19 age range.
● The segment aged 10-24 is estimated to constitute 26 per cent, with the 15-64 age group making
up 68 per cent.
● Additionally, 7 per cent of India's population is aged 65 years and above, with men having a life
expectancy of 71 years and women 74 years.
● Recent studies conducted across India's 640 districts have shown that while close to a third of
these districts have successfully met the Sustainable Development Goal (SDG) target of
reducing maternal mortality ratios to below 70 per 100,000 live births, 114 districts still report
ratios of 210 or higher deaths per 100,000 live births.
● The most alarming rate, at 1,671 deaths per 100,000 births, is observed in the Tirap District of
Arunachal Pradesh, which is predominantly rural and has a substantial indigenous population.
At 7.1%, Odisha records highest retail inflation
● Even as the retail inflation rate in the country eased to a 10-month low of 4.85 per cent, it was the
highest in Odisha among major states in March.
● The inflation rate was 7.05 per cent in the state.
● As per the data released by the Ministry of Statistics and Programme Implementation, the rural
inflation rate was higher than the urban with 7.27 pc and 6.46 pc respectively.
● This was the highest in individual segments among the states having a population of more than
50 lakh.
● An analysis of the consumer price index (CPI) for the last four quarters indicated that the inflation
rate that had shot up from 3.75 pc in June 2023 to 8.73 pc in December dropped to 7.55 pc in
January and February 2024.
● At 3.75 pc, the inflation rate in Odisha was one of the lowest in the country in March last year
when the urban share (5.61 pc) was higher than the rural (3.02 pc).
● The inflation rate of vegetables was the highest at 28.34 pc, followed by pulses and products
(17.71 pc), spices (11.4 pc), eggs (10.33 pc) and food and beverages (7.68 pc).
● Odisha led with an inflation rate of 7.1%, trailed by Assam and Haryana at 6.1%. Bihar and
Telangana recorded rates of 5.7% and 5.6%, respectively.
● Delhi registered the lowest retail inflation rate at 2.3%, followed by Uttarakhand at 3.6%, West
.
Bengal and Maharashtra at 3.7%, and Himachal Pradesh at 4.1%.
Vedanta’s Hindustan Zinc Becomes the 3rd Largest Producer of Silver Globally
● Hindustan Zinc Limited a Vedanta group company in the zinc-lead-silver business has now
become the 3rd largest silver producer globally as per the World Silver Survey 2024 conducted
by ‘The Silver Institute’, USA.
● The company’s Sindesar Khurd Mine now stands as the world's 2nd largest silver-producing
mine moving up from last year’s 4th position.
● Additionally, the recognition of its Pantnagar silver refinery by the London Bullion Market
Association (LBMA) and inclusion in the ‘London Good Delivery’ list reaffirms the refinery's
adherence to international quality standards, marked by LBMA certification of 99.99% pure silver.
● Globally, solar – the fastest growing of all the sources of renewable energy with about 440 GW
installed in 2023 – is poised to elevate silver demand.
India ranks 4th in global military spending at $83.6 bn in 2023

● India was the world's fourth-largest military spender in 2023, making an expenditure of $83.6 billion
to modernise a range of weapons and combat systems.
● The United States (US), China, and Russia were the top three spenders in that order, according to
the Stockholm International Peace Research Institute (Sipri).
● India's military spending saw a 4.2 per cent increase compared to 2022.
● The Sipri report comes at a time when India and China have been locked in a standoff along the
Line of Actual Control (LAC) in eastern Ladakh since May 2020.
● The two countries have conducted 21 rounds of military talks to address the border dispute.
● India allocated Rs 6.21 trillion for defence spending in the interim Budget for 2024-25, marginally
lower than the previous year's revised estimates but 4.72 per cent higher than the budget estimates
for 2023-24.
● This year's defence budget represents 1.89 per cent of India's projected gross domestic product
(GDP) for 2024-25.
Top 10 countries with highest military spending in 2023

1. United States: $916 billion
2. China: $296 billion (estimated)
3. Russia: $109 billion (estimated)
.
4. India: $83.6 billion

5. Saudi Arabia: $75.8 billion (estimated)
6. United Kingdom: $74.9 billion
7. Germany: $66.8 billion
8. Ukraine: $64.8 billion
9. France: $61.3 billion
10. Japan: $50.32 billion
TRAI releases “Indian Telecom Services Performance Indicator Report” for the Quarter October-
December 2023
● The "Indian Telecom Service Performance Indicator Report" for the quarter ending December 31,
2023, was released by the Telecom Regulatory Authority of India (TRAI).
● In the total number of internet subscribers, the report shows an increase from 918.19 million in
September 2023 to 936.16 million in December 2023, showing a quarterly growth of 1.96%.
● Of these subscribers, wired internet customers number 38.57 million, while 897.59 million access the
internet wirelessly.
● The number of broadband internet subscribers reached 904.54 million by the end of December,
compared to 885 million in September, showing a growth of 2.21%.
● Additionally, monthly average revenue per user (ARPU) for wireless services increased from Rs
149.66 in the September quarter to Rs 152.55 in the December quarter, showing a growth of 1.93%.
India pips China to become the largest electric 3W market globally in 2023
● India overtook China in sales of electric three-wheelers in 2023, at over 5.8 lakh units, according to a
report by the International Energy Agency (IEA).
● Electric 3W sales grew 65 per cent year-on-year, with government financial incentives helping lower
prices.
● In China, sales fell 8 per cent in 2023 to 3.2 lakh units, making it the second-largest electric 3W
market.
● Globally, the 3W market expanded by 13 per cent in 2023, selling 4.5 million units, of which 21 per
cent was electric, compared to 18 per cent in 2022.
● In India, despite being 55 per cent costlier than gasoline variants in 2023, the average electric 3W
(autorickshaw) proves to be 50 per cent cheaper to own after eight years of service, and over 40 per
cent cheaper even without subsidies.
.
Emeritus Best; 15 Indian companies in the world’s top edtech list

● Emeritus has secured the top spot in TIME Magazine’s “World’s Top EdTech Companies of 2024”
ranking.
● Founded in 2015 by Ashwin Damera and Chaitanya Kalipatnapu, Emeritus offers courses from
global universities such as the University of Cambridge, Harvard Business School, the University of
Pennsylvania, MIT Sloan, Indian School of Business, Indian Institutes of Management (IIMs), Indian
Institutes of Technology (IITs), the University of Western Australia, John Hopkins, NTU Singapore,
Carnegie Mellon, UC Berkeley Executive Education, INSEAD and Wharton Executive Education,
among others.
● There are 14 more Indian edtech firms on the TIME list.
● At the 26th position is Miko, which makes AI-powered robots for kids, followed by the competitive
exam preparation app Unacademy at the 54th position.
● The US-headquartered upGrad that was founded in India is at the 69th rank, followed by Univariety
at 82nd position (it offers technology-backed solutions for educational institutes).
● At the 83rd rank is iNurture Education Solutions, which focuses on university-industry partnership,
and at the 90th position is Uolo, which empowers schools.
● In this list of 250 ed-tech companies, 91 are from the US, 25 are from China, 16 from the UK, eight
each from Brazil and Australia, seven from Spain, six each from Germany, France, Canada and
South Korea, and five each from Singapore and Japan.
● Two Indian companies found place in the TIME “World’s Top EdTech Rising Stars of 2024”.
● These are Scaler Academy at the top rank, and Eupheus Learning at seventh position.
DEFENCE NEWS
India Achieves Record Defence Exports of Rs ₹21,083 Crore in FY 2023-24
• Defence exports from India have touched an all-time high of Rs 21,083 crore in the financial year
2023-2024, with consignments reaching 85-plus countries in the neighbourhood and beyond.
• This was a growth of 32.5 percent over the previous fiscal.
• Although India is still the world’s largest arms importer, a strong push on Atmanirbharta in the last
decade has brought the country to a position wherein over 100 private and public sector
undertakings (PSUs) are now exporting defence equipment and systems to more than 85
countries.
.
• The total defence exports from 2004-05 to 2013-14 were ₹4,312 crore, which has gone up to
₹88,319 crore in the period from 2014-15 to 2023-24.
Indian Army Adopts Indigenous Akashteer System
• The Indian Army has initiated the induction of control and reporting systems under 'Project
Akashdeep' to enhance its air defense capabilities.
• The first batch of Control Centers for the Automated Air Defence Control and Reporting System,
named 'Project Akashteer', was flagged off from Bharat Electronics Limited (BEL) in Ghaziabad.
• Aim : To deliver an "unprecedented level" of situational awareness and control for the force to
ensure safety of friendly aircraft and engage hostile aircraft in in "contested airspace",
• 2024 has been designated as the 'Year of Technology Absorption'.
About Indian Army :
• Chief of the Army Staff : General Manoj Pande
The India-United States Tri-Service Exercise 'Tiger Triumph-24' Comes to an End

• The 14-day bilateral tri-service exercise 'Tiger Triumph-24' between India and the United States
(US) has concluded.
• The exercise that began on March 18 aimed at developing interoperability for conducting
humanitarian assistance and disaster relief (HADR) operations and refining standard operating
procedures to enable rapid and smooth coordination between the forces of the two countries.
• The exercise took place in Visakhapatnam and Kakinada in Andhra Pradesh (AP).
Indian Air Force to Commence Mega 10-Day Drills 'Gagan Shakti-2024' on April 1, 2024
• The Indian Air Force (IAF) will conduct the Gagan Shakti-2024 exercise from April 1 to April 10,
2024.
• This exercise will involve all air force bases and assets across the country.
.
• Aim of the Exercise : To test the readiness of the IAF for a two-front war scenario with China and
Pakistan.
• The last Gagan Shakti exercise was organized in 2018.
• The IAF will host a multi-nation exercise later this year, named "Tarang Shakti."
About IAF :
• Chief of the Air Staff : Air Chief Marshal Vivek Ram Chaudhari
Indian Navy Chief Admiral R. Hari Kumar Unveils New Amenities at Karwar Naval Base
• Indian Navy Chief Admiral R. Hari Kumar inaugurated a 350m long major pier for Offshore Patrol
Vessels (OPVs) and a residential accommodation at Naval Base Karwar.
• These infrastructure developments are part of the ongoing Phase IIA of Project Seabird, which will
accommodate 32 ships and submarines, 23 yardcraft, a dual-use Naval Air Station, a full-fledged
naval dockyard, 4 covered dry berths and logistics for ships and aircraft.
About Indian Navy :
Indian Army Acquires First Consignment of 24 Igla-S MANPADS and 100 Missiles from Russia
• The Indian Army has received the first batch of 24 Russia-made Igla-S Man Portable Air Defence
Systems (MANPADS) and 100 missiles as part of a larger deal that includes domestic production
in India.
• This procurement aims to enhance the Army’s Very Short Range Air Defence (VSHORAD)
capabilities, particularly in high mountainous terrain along the northern border.
• Background : In November,2023 India signed a contract with Russia for 120 launchers and 400
missiles.
• While the first batch from Russia has been received by the Army, the rest of these systems will be
made in the country through Transfer of Technology (ToT) from Russia by an Indian company.
Defence Ministry Initiates Procurement of 97 Tejas Mk-1A Fighters for IAF, Valued at ₹67,000 Crore
● The defence ministry has issued a tender to state-run plane-maker Hindustan Aeronautics
.
Limited for the proposed acquisition of 97 light combat aircraft (LCA Mk-1A) to strengthen the
Indian Air Force’s (IAF’s) capabilities at a time the force is grappling with a shortage of fighter
squadrons.
● The new fighter planes are expected to cost around ₹67,000 crore.
● The development comes around 4 months after the Defence Acquisition Council (DAC), headed
by Defence Minister Rajnath Singh, accorded its acceptance of the necessity (AoN) for more
Tejas Mk-1A fighters.
● AoN by the council is the first step towards buying weapons and systems under India’s
procurement rules.
● The LCA Mark 1A fighter jets will replace the MiG- 21s, MiG-23s and MiG-27s.
● The decision to buy 97 LCA Mark 1A fighter jets came after a review meeting of the indigenous
fighter jet programme.
India and Uzbekistan to Commence 5th Edition of 'Dustlik' Joint Military Exercise in Termez District,
Uzbekistan
● The 5th edition of the 'Dustlik' Joint Military Exercise between India and Uzbekistan is scheduled
to take place in the Termez District of Uzbekistan for 14 days, starting from April 15, 2024 to 28
April 2024.
● Participating Contingents: Contingents from both the Indian Armed Forces (IAF) and the Armed
Forces of the Republic of Uzbekistan will participate in the exercise, focusing on collaboration
and future military interactions.
● Number of Participants: Each side will contribute 45 soldiers to the exercise, fostering positive
relations between the armies of both countries.
● Indian Army Contingent: The Indian Army contingent will consist of troops from the Garhwal
Rifles Regiment's infantry battalion.
Note :
● The 4th edition of the ‘Dustlik’ joint military exercise was held on February 20, 2023 at the
Foreign Training Node, Pithoragarh in Uttarakhand.
.
● The 1st edition of the Dustlik Joint Military Exercise was held in Uzbekistan in November 2019.
About Uzbekistan :
● President : Shavkat Mirziyoyev
● Prime Minister : Abdulla Nigmatovich Aripov
● Capital : Tashkent
● Currency : Uzbek sum
Defence Research & Development Organisation and Indian Army Successfully Test Indigenous Man-
Portable Anti-tank Guided Missile Weapon System
● Man Portable Anti-tank Guided Missile (MPATGM) Weapon System, indigenously designed and
developed by the Defence Research & Development Organisation (DRDO), has been field
evaluated in different flight configurations several times to prove the technology with high
superiority.
● The Warhead Flight Trials were successfully conducted at the Pokhran Field Firing Range
(PFFR), Rajasthan.
● With this, technology development and successful demonstration have been concluded and the
system is now ready for Final User Evaluation Trials leading towards its induction into the Indian
Army.
● Penetration trials of the Tandem Warhead System of MPATGM have been successfully
completed and it is found capable of defeating modern armour protected Main Battle Tank.
About MPATGM Weapon System :
● The system consisted of the MPATGM, Launcher, Target Acquisition System, and the Fire
Control Unit.
● As of 2022, it is being developed by the DRDO in partnership with Indian defence contractor
VEM Technologies Private Limited.
● The MPATGM is a low-weight, long cylindrical missile with two groups of four radial fins, larger
ones at the middle, and smaller ones at the tail.
● It is fitted with one high-explosive anti-tank (HEAT) shaped charge warhead.
● The missile has a length of about 130 cm and a diameter of about 12 cm with a collapsible tripod
and launch tube of aluminium and carbon fibre to reduce weight.
● It weighs 14.5 kg, with its command launch unit (CLU) weighing 14.25 kg which combines a laser
designator with digital all-weather sight.
.
● Minimum range is 200 to 300 m; maximum range is 4 km.

About DRDO :
● Chairman : Sameer V. Kamat
Hindustan Shipyard Ltd (HSL) Initiates Construction of India's First Indigenous Fleet Support Ship for
Indian Navy
● Hindustan Shipyard Limited (HSL), the premier shipbuilding yard in the country set up in 1941,
has initiated the construction of India's first indigenously designed Fleet Support Ship (FSS) for
the Indian Navy, marking a significant milestone.
● The project for constructing 5 FSS has been awarded to HSL as part of the 'Atma Nirbhar India'
mission, aimed at enhancing self-reliance in defence manufacturing.
● The contract at an estimated cost of Rs 19,000 crore with the Ministry of Defence was signed in
August, 2023.
● Delivery Schedule : HSL is scheduled to deliver the ships from mid-2027 onwards, contributing to
the modernization and expansion of the Indian Navy's fleet.
● Enhancing Naval Capabilities : The induction of FSS will enhance the 'Blue Water' capabilities of
the Indian Navy by enabling replenishment of fleet ships at sea, thereby extending operational
reach and endurance.
● First-of-Its-Kind Vessels: These five 44,000-tonne vessels will be the first-of-their-kind to be built
in India by an Indian Shipyard, showcasing indigenous expertise in shipbuilding.
● Employment Generation: The FSS project is expected to generate employment opportunities,
with nearly 16.88 million man-days of work over a period of 8 years, contributing to economic
growth and skill development.
About HSL :
● Headquarters : Visakhapatnam, Andhra Pradesh, India
● Chairman & Managing Director : Hemant Khatri
About Indian Navy :
.
● Chief of the Naval Staff : Admiral R. Hari Kumar

Defence Research and Development Organisation Inaugurates Submersible Platform for Acoustic
Characterisation and Evaluation, Premier Sonar Systems Testing Hub for Indian Navy in Kerala
● A state-of-the-art Submersible Platform for Acoustic Characterisation and Evaluation (SPACE)
was inaugurated by the Secretary, the Department of Defence (R&D) and Chairman of Defence
Research and Development Organisation (DRDO) Dr Samir V Kamat at Underwater Acoustic
Research Facility, Kulamavu in Idukki, Kerala.
● The SPACE, set up by the Naval Physical & Oceanographic Laboratory of DRDO, has been
designed as a premier testing and evaluation hub for sonar systems destined for the Indian Navy
onboard various platforms including ships, submarines and helicopters.
● The SPACE marks a milestone in naval technology advancement.
● It will consist of two distinct assemblages - a platform which floats on the water surface, and a
submersible platform which can be lowered to any depth up to 100 m using winch systems.
● The SPACE will mainly be utilised for the evaluation of complete sonar systems, allowing for
quick deployment and easy recovery of scientific packages such as sensors and transducers.
● It will be suitable for survey, sampling, and data collection of air, surface, mid-water, and
reservoir floor parameters using modern scientific instrumentation.
Indian Army Commemorates 40th Anniversary of 'Operation Meghdoot' on Siachen Glacier
● The Indian Army and Indian Air Force (IAF) celebrated the 40th anniversary of Operation
Meghdoot (Cloud Messenger), which commenced on April 13, 1984.
About the Operation Meghdoot :
● Indian Army and Indian Air Force had advanced to the Siachen Glacier to secure heights
dominating the northern Ladakh region.
● Following Operation Meghdoot, the Siachen Glacier remains under Indian control.
● 17 days prior to Operation Meghdoot, the Indian Army launched Exercise Walnut Cracker to
occupy certain heights around the Siachen Glacier.
● Siachen is located at a height of around 20,000 feet in the Karakoram Mountain range, the
Siachen Glacier is known as the highest militarised zone around the world.
About Indian Army :
.
About IAF :
Defence Research and Development Organisation successfully test fires Indigenous Technology Cruise
Missile from Chandipur off Odisha coast
● The Defence Research and Development Organisation (DRDO) conducted a successful flight
test of the Indigenous Technology Cruise Missile (ITCM) from the Integrated Test Range (ITR),
Chandipur, off the coast of Odisha.
● The missile's performance was monitored using several range sensors, including Radar, Electro-
Optical Tracking System (EOTS), and Telemetry.
● These sensors were deployed by ITR at various locations to ensure complete coverage of the
flight path.
● The flight of the missile was also monitored from the Su-30-Mk-I aircraft of the Indian Air Force
(IAF).
● The missile is developed by Bengaluru-based DRDO laboratory Aeronautical Development
Establishment (ADE) along with contributions from other laboratories and Indian industries.
● The missile followed the desired path using waypoint navigation and demonstrated very low-
altitude sea-skimming flight.
● This successful flight test has also established the reliable performance of the indigenous
propulsion system developed by Gas Turbine Research Establishment (GTRE), Bengaluru,
Karnataka.
About DRDO :
● Chairman : Samir V Kamat
● The DRDO is the premier agency under the Department of Defence Research and Development
in the Ministry of Defence of the Government of India, charged with the military's research and
development.
Raksha Mantri Shri Rajnath Singh visits Siachen, the world’s highest battlefield
.
● Defence Minister Rajnath Singh stated that Siachen, the world’s highest battlefield, is no ordinary
land as it represents the sacrifice, valour and determination of Indian soldiers who serve in
extremely harsh terrain and inclement weather to protect the motherland.
● Interacting with the Armed Forces personnel deployed at Kumar Post, one of the world’s most
inhospitable locations, Singh thanked them for placing the call of duty above everything while
safeguarding the country’s sovereignty and perseverance.
● The Indian Army marked Siachen Day on April 13 as ‘Operation Meghdoot’ — launched on April
13, 1984 — completed 40 years.
Indian Army Allocates Rs 6,800 Crore for Indigenous Shoulder-Fired Missiles to Enhance Border
Security
● The Indian Army is undertaking two projects worth over Rs 6,800 crore to develop indigenous
Very Short Range Air Defence (VSHORAD) systems.
● These shoulder-fired missile systems are intended to counter aerial threats along the borders
with China and Pakistan.
● The Army plans to procure over 500 launchers and around 3,000 missiles through these
indigenous projects.
● Laser Beam Riding VSHORADS Project : The first project, valued at Rs 4,800 crore, is focused
on developing a laser beam riding VSHORADS.
● This project involves collaboration between a Hyderabad-based defense Public Sector
Undertaking (PSU) and a private sector firm from Pune.
● Allocation of Resources : The Army will be the lead service for this project, with the Indian Air
Force also set to receive a portion of the 1,200 missiles and 200 launchers being developed.
● DRDO’s Infra-Red Homing VSHORADS : The Defence Research and Development Organisation
(DRDO) is leading the development of an infra-red homing-based Very Short Range Air Defence
(VSHORADS) system.
About VSHORAD Systems :
● VSHORAD systems are essential for providing layered air defense against low-flying aircraft,
helicopters, and drones.
● The Indian military is working to replace its aging VSHORAD inventory, mainly consisting of the
Igla-1M system, which was inducted in 1989 and was set for de-induction in 2013.
● The versatility of VSHORAD systems has been demonstrated in recent conflicts, such as the
.
Russia-Ukraine war.
About Indian Army :
About DRDO :
● Chairman : Samir V Kamat
● The DRDO is the premier agency under the Department of Defence Research and Development
in the Ministry of Defence of the Government of India.
Indian Navy Conducts Poorvi Lehar Exercise on East Coast
● The Indian Navy conducted Exercise Poorvi Lehar (XPOL) on the East Coast under the
Operational Control of The Flag Officer Commanding-in-Chief, Eastern Naval Command.
● Aim of the Exercise : To validate procedures and assess the Indian Navy's preparedness to meet
maritime security challenges in the region.
● Participants and Phases:The exercise involved the participation of various naval assets, including
ships, submarines, aircraft, and special forces.
● XPOL was conducted in multiple phases including combat training in a realistic scenario during
the Tactical Phase and successful conduct of various firings during the Weapon Phase towards
reaffirming Indian Navy’s capability to deliver ordnance on target.
● Interoperability with Other Services: The exercise involved not only assets from the Eastern
Naval Command but also from the Indian Air Force (IAF), Andaman & Nicobar Command, and
the Coast Guard, indicating a high degree of interoperability among different services.
About Indian Navy :
● Founded : 1950
● Chief of the Naval Staff : Admiral R. Hari Kumar (Till April 29, 2024)
Defence Research and Development Organisation Develops Lightest Bulletproof Jacket to Withstand
Highest Threat Level 6 of BIS
● A unit of the Defence Research and Development Organisation (DRDO) has successfully
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developed the lightest bulletproof jacket in the country for protection against the highest threat
level 6.
● This jacket is based on a new design approach where novel material along with new processes
has been used.
● DRDO’s Defence Materials and Stores Research and Development Establishment (DMSRDE),
Kanpur has successfully developed the lightest bulletproof jacket in the country for protection
against 7.62 x 54 R API (level 6 of BIS 17051) ammunition.
● This bulletproof jacket was successfully tested at TBRL, Chandigarh as per BIS 17051-2018.
● The front Hard Armour Panel (HAP) of this jacket defeats multiple hits (06 shots) of 7.62 x 54 R
API (Sniper rounds) in both ICW (In-conjunction with) and Standalone design.
● The areal density of ICW Hard Armour Panel (HAP) and standalone HAP is less than 40 kg/m2
and 43 kg/m2 respectively.
Indian Navy Engages in Maritime Partnership Exercise with UK’s Littoral Response Group
● Indian Navy’s indigenous stealth frigate, Indian Naval Ship (INS) Sahyadri participated in the
Maritime Partnership Exercise with Royal Navy’s Royal Fleet Auxiliary (RFA) Argus and RFA
Lyme Bay, part of the United Kingdom (UK) Littoral Response Group South
● Aim : To enhance interoperability and strengthen maritime cooperation between the two nations.
● Exercise Highlights include Tactical manoeuvres, Boarding operations, Surface engagement
against simulated asymmetric threats, Cross-deck visits, and Cross-deck helicopter operations.
About INS Sahyadri :
● INS Sahyadri (F49) is a Shivalik-class stealth multi-role frigate built for the Indian Navy.
● It was built at the Mazagon Dock Limited (MDL) located in Mumbai.
● This class features improved stealth and land attack capabilities over the preceding Talwar-class
frigates.
● It was commissioned on 21 July 2012 into the Eastern Naval Command headquartered at
Visakhapatnam.
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Microsoft and OpenAI to Collaborate on $100 Billion Investment for Stargate AI Supercomputer: Report
• Microsoft and OpenAI plan to invest $100 billion in the development of the Stargate AI
supercomputer.
• Microsoft and OpenAI are collaborating on a data centre project, which will include the Stargate AI
supercomputer to power OpenAI's artificial intelligence models.
• Microsoft is financing the project.
• The Stargate supercomputer will be the fifth phase of a series of supercomputers.
• The fourth phase of a supercomputer for OpenAI is likely to be launched around 2026.
India Among Nations Considering Moon-Based Telescopes
• Astronomers are looking forward to posting high-resolution telescopes on the moon and in orbit
around it, including one from India called Probing ReionizATion of the Universe using Signal from
Hydrogen (PRATUSH).
• PRATUSH is a radio telescope to be sited on the moon’s far side.
• It is being built by the Raman Research Institute (RRI) in Bengaluru with active collaboration from
the Indian Space Research Organisation (ISRO).
• Launch Plan:Initially, ISRO will deploy PRATUSH into Earth's orbit for adjustments and fine-tuning.
Bharat Biotech Partners with Bilthoven Biologicals BV to Manufacture and Distribute Oral Polio
Vaccines
• Bharat Biotech, a leading global vaccine and biotherapeutic innovator, and also the largest
manufacturer of oral polio vaccines and Bilthoven Biologicals BV (BBio), a subsidiary of Serum
Institute of India Private Limited based in the Netherlands, announced a collaboration to enhance
the production and supply security of Oral Polio Vaccines (OPV).
About Serum Institute of India :
• Founded : 1966
• Headquarters : Pune, Maharashtra, India
• CEO : Adar Poonawalla
About Bharat Biotech :
• Founded : 1996
• Headquarters : Hyderabad
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• Chairman & MD : Dr. Krishna Ella

Indian Entrepreneur Gopi Thotakura to Be 1st Indian Tourist in Space on Blue Origin's NS-25 Mission
• Gopi Thotakura, an entrepreneur and a pilot, is set to become the first Indian to venture into space
as a tourist on Amazon founder Jeff Bezos's Blue Origin’s NS-25 mission.
• Selection and Crew:Thotakura was chosen as one of the 6 crew members for the NS-25 mission,
making him the first Indian space tourist.
• He will be the 2nd Indian to venture into space after Indian Army's Wing Commander Rakesh
Sharma in 1984.
Indian Institute of Science Scientists Develop Innovative Hydrogel for Microplastic Removal from Water
• Researchers at the Indian Institute of Science (IISc) have developed a sustainable hydrogel
specifically designed to remove microplastics from water.
• Composition : The hydrogel utilizes a complex interpenetrating polymer network (IPN) architecture
composed of chitosan, polyvinyl alcohol, and polyaniline.
• Catalytic Nanoclusters ; This structure is infused with nanoclusters of copper substitute
polyoxometalate (Cu-POM), which act as catalysts under UV light irradiation to degrade
microplastics.
Command Hospital, Pune Achieves Milestone as First Government Hospital in India to Acquire and
Perform Successful Piezoelectric Bone Conduction Hearing Implant
● Command Hospital, Pune has become the first government hospital across the country to
procure and conduct such implants.
● The Department of Ear, Nose & Throat (ENT) at Command Hospital (Southern Command)
conducted two such implants.
● One was on a 7-year-old male child with congenital external and middle ear anomalies, and the
other on an adult suffering from Single Sided Deafness.
● Command Hospital (Southern Command), Pune, has been recognized as the top hospital within
the entire Armed Forces Medical Services (AFMS) and received the prestigious "Raksha Mantri"
trophy.
● The ENT division of Command Hospital (Southern Command) has been accredited as an AFMS
Neurotology Centre, indicating its specialized expertise in this area.
United States and Japan Collaborate to Send Japanese Astronaut to the Moon
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● President Joe Biden announced that Japanese astronauts would participate in future National
Aeronautics and Space Administration (NASA) lunar missions, emphasizing closer ties between
the United States (US) and Japan.
● In the future, two Japanese astronauts will join NASA's lunar missions, and one of them will
become the first non-American to land on the Moon.
● Artemis Program : Japan's astronauts will take part in the Artemis program, a NASA-led effort to
return astronauts to the Moon as early as 2026, more than half a century after the last Apollo
mission.
● Collaboration with India : In September 2023, during Indian Prime Minister Narendra Modi's visit
to Washington, both countries also announced that NASA would work with India's space agency
on a joint mission to the International Space Station.
● In addition, New Delhi agreed to sign the Artemis Accords, a US-backed project, to establish
guidelines for activity on the Moon and elsewhere in space.
● JapArtemis Agreement : Japan and India are among three dozen countries to sign the Artemis
agreement, with Greece and Uruguay signing in February.
● Artemis Missions Timeline : The first mission to take astronauts to the lunar surface, Artemis 3, is
planned for 2026.
● China meanwhile has said it seeks to put humans on the Moon by 2030.
● The first crewed landing on the Moon will be Artemis 3, currently scheduled for 2026.
About Japan :
● Capital: Tokyo
Russia Conducts Successful Maiden Test Launch of Angara-A5 Space Rocket from Vostochny
Cosmodrome
● Russia successfully test-launched its Angara-A5 space rocket for the first time from the
Vostochny Cosmodrome in the Far East.
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● This marks a significant milestone in Russia's efforts to develop a new post-Soviet launch
vehicle.
● Objective of the Test Launch: The test launch of the Angara-A5 aimed to demonstrate Russia's
ambition to establish itself as a major space power and underscored the growing importance of
the Vostochny Cosmodrome in the Amur region of Russia's Far East.
About Angara-A5 space rocket :
● Payload Capacity and Design: The Angara-A5 space rocket is designed to carry heavy payloads
into low Earth orbit, with a capacity to carry payloads exceeding 20 tonnes.
● It is part of the Angara family of rockets developed to replace the Soviet-designed Proton rockets.
● Specifications: The Angara-A5 rocket is 54.5 metres (178.81 feet) tall, consists of three stages,
and has a mass of about 773 tonnes.
● It has the capability to carry approximately 24.5 tonnes into space.
About Russia :
India Sets Target for Debris-Free Space Missions by 2030- ISRO Chief S. Somanath
● Indian Space Research Organisation (ISRO) Chairman S. Somanath announced India's pledge
to achieve debris-free space missions by 2030 at the 42nd Inter-Agency Space Debris
Coordination Committee (IADC) annual meet.
● India's commitment aligns with global efforts aimed at ensuring the sustainability of space
exploration and reducing space debris.
● Objective of Space Exploration Initiative:ISRO has a clearly defined plan for space exploration,
with the primary goal of achieving debris-free space missions by 2030.
● Current Status:Presently, India has 54 spacecraft in orbit, along with numerous non-functional
objects contributing to space debris.
● Future Plans:India aims to establish its own space station, named 'Bharatiya Antriksh Station,' by
the year 2035, indicating its ambitious goals in space exploration and infrastructure development.
About ISRO :
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India Delivers First BrahMos Supersonic Cruise Missiles to the Philippines, Marking a Significant
Military Export Milestone
● India handed over the first batch of BrahMos supersonic cruise missiles to the Philippines,
signifying a major military export achievement.
● Deal Details:The Philippines signed a $375 million deal with India in January 2022 for three
batteries of the shore-based, anti-ship version of the BrahMos.
● This makes the Philippines the first export customer for the BrahMos missile, which is a joint
venture between India and Russia.
● Background and Collaboration:The BrahMos missile is developed by BrahMos Aerospace, a joint
venture between India's DRDO and Russia's NPO Mashinostroyeniya.
● The name "BrahMos" is derived from the Brahmaputra and Moskva rivers.
● Operational Capability:BrahMos is a supersonic cruise missile capable of being launched from
various platforms, including land, sea, sub-sea, and air, against surface and sea-based targets.
● History and Testing : The first successful test in 2001 was conducted from a specially designed
land-based launcher.
● Technical Specifications : BrahMos is a medium-range ramjet supersonic cruise missile.
● The missile travels at speeds of Mach 2.8 to 3.0, which is being upgraded to Mach 5.0.
● Originally limited by the Missile Technology Control Regime (MTCR) to a range of 290 km, the
range was extended to 450 km after India's entry into the regime in June 2016.
About Philippines :
● President : Bongbong Marcos
● Capital : Manila
● Currency : Philippine peso
NASA Unveils Probe to Explore Jupiter's Icy Moon in Search of Extraterrestrial Life
● The United States (US) space scientists unveiled the interplanetary probe National Aeronautics
and Space Administration (NASA) plans to send to one of Jupiter's icy moons as part of
humanity's hunt for extraterrestrial life.
● Jupiter Icy Moons Explorer (Juice) will be Europe’s first dedicated robotic mission to Jupiter.
.
● Juice is due to reach the planet in July 2031 after performing an incredible flight path through the
Solar System.
● Europa, in particular, is regarded as one of the most likely abodes in the Solar System for
extraterrestrial life.
● The Airbus-built JUICE spacecraft weighs 6.2 tonnes and will collect data from the moons using
10 state-of-the-art scientific instruments.
● Europa Clipper is due to launch in October 2024 and to be orbiting Jupiter in 2030.
● The spacecraft will be engraved with a poem by the US Poet Laureate Ada Limón entitled In
Praise of Mystery: A Poem for Europa.
About NASA :
Rahul Bhatia's InterGlobe Enterprises Teams Up with Tech Veteran C P Gurnani's Assago to Launch AI
Business Venture AIonONS
● InterGlobe Enterprises, led by Rahul Bhatia, has partnered with technology veteran C P
Gurnani's Assago to launch an artificial intelligence business venture called AIonOS.
● The venture aims to provide a variety of AI-based solutions and also seeks to partner with
startups.
● InterGlobe has a diversified presence in the Travel, Transportation, Logistics, and Hospitality
(TTLH) sectors, with India's largest airline, IndiGo, as part of its group.
● Purpose of AIonOS: The venture is designed to help businesses accelerate their digital
transformation by offering AI-powered solutions that enhance both human and system
capabilities.
About AIonOS :
● AIonOS is a joint venture between InterGlobe, the majority partner, and Assago.
● The headquarters for AIonOS is in Singapore, indicating an international focus from the outset.
.
China Launches 3 Astronauts to Space Station, Aims for Moon Landing by 2030
● China launched a three-member crew to its Tiangong space station, as part of its program aiming
to send astronauts to the moon by 2030.
● The Shenzhou-18 spacecraft, also known as the "Divine vessel," lifted off from the Jiuquan
Satellite Launch Center on the edge of the Gobi Desert in northwestern China atop a Long March
2-F rocket.
● Crew and Mission: The three-member crew will relieve the Shenzhou-17 team that has been
staffing the Tiangong space station since October, 2023.
● China's Space Ambitions:China has built its own space station after being excluded from the
International Space Station (ISS), primarily due to U.S. concerns about the Chinese military's
involvement in the program.
● In 2024, the Tiangong space station is expected to host two cargo spacecraft missions and two
manned spaceflight missions.
● China's History in Crewed Space Missions:China conducted its first crewed space mission in
2003, becoming the 3rd country after the former Soviet Union and the United States (US) to put a
person into space using its own resources.
About China:
● Currency: Renminbi
CURRENT AFFAIRS: APPS AND PORTALS

The Union Health Ministry has recently launched an iOS app called myCGHS.
• Shri Apurva Chandra, Secretary, Ministry of Health and Family Welfare launched the myCGHS
app for the iOS ecosystem of devices.
• The app is designed to enhance access to Electronic Health Records, information, and resources
for Central Government Health Scheme (CGHS) beneficiaries.
• The myCGHS iOS app is developed by the technical teams of the National Informatics Centre
(NIC) Himachal Pradesh and the NIC Health Team.
• It is a convenient mobile application offering features aimed at enhancing information and
accessibility for CGHS beneficiaries.
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ACQUISITION AND MERGERS

Parent Company of IndusInd Bank to Purchase 60% Stake in Invesco India Asset Management
• IndusInd International Holdings Limited. (IIHL), a Mauritius-based investment holding company of
the Hinduja Group has entered into a definitive agreement to acquire a 60% stake in Invesco Asset
Management India Ltd. (IAMI) for an undisclosed amount.
• Invesco, the existing promoter, will hold the remaining 40% stake in the joint venture company and
both IIHL and Invesco will have sponsor status of the mutual fund house.
• With an AUM of ₹85,393 crore, IAMI is the 17th largest domestic asset manager in India and has a
presence in 40 cities across the country.
About IIHL :
• Chairman : Ashok Hinduja
• CEO : Moses Harding
Bain Capital Offloads 1.08% Stake in Axis Bank for Rs 3575 Crore
• Bain Capital has sold a 1.08% stake in Axis Bank for ₹3,575 crore through an open market
transaction.
• The stake sale involved the offloading of 33.37 million shares at ₹1,071 per share on the Bombay
Stock Exchange (BSE).
• In December,2023 Bain Capital had sold a similar quantity of shares at ₹1,120 per share,
generating $448 million.
• Bain Capital invested Rs 6,854 crore in Axis Bank as part of an Rs 11,626-crore capital raising
exercise in November 2017.
About Bain Capital :
• Founded : 1984
• Headquarters : Massachusetts, United States
About Axis Bank :
.
Edelweiss Alternatives backed platform acquires L&T Infrastructure Development Projects for Rs 6,000
crore
• Edelweiss Alternatives has successfully completed a deal worth Rs 6,000 crore to acquire L&T
Infrastructure Development Projects (LTIDPL).
• This acquisition includes various road assets and power transmission lines owned by LTIDPL.
• Background of the Deal : The deal to buy LTIPDL, a joint venture where infra major L&T had a
51% stake and its partner Canada Pension Plan Investment Board had the rest, was first
announced in December 2022.
Happiest Minds to Acquire Macmillan Group Subsidiary for ₹4.5 Crore
● Ashok Soota-promoted Happiest Minds Technologies has executed a share purchase agreement
to acquire 100% equity interest in Macmillan Learning India, a wholly owned subsidiary of the
Macmillan Group, USA, for cash consideration of ₹4.5 crore.
● Transaction Details : Happiest Minds Technologies will acquire 1,00,000 equity shares of face
value ₹1/- each in Macmillan Learning India from its existing shareholders.
● The acquisition is expected to be completed by April 30,2024 and on closure of the transaction,
Macmillan Learning India will become a wholly owned subsidiary of Happiest Minds
Technologies.
About Happiest Minds Technologies Limited :
● Happiest Minds Technologies Limited is a digital transformation information technology (IT)
consulting and services company.
● Its segments include Infrastructure Management & Security Services (IMSS), Product and Digital
Engineering Services (PDES) and Generative AI Business Services (GBS).
UltraTech Cement gains on plan to acquire grinding unit from India Cements
● Ultratech Cement rose 1.80% to Rs 9,535.65 after the company announced that its board has
approved the purchase of a grinding unit from India Cements for Rs 315 crore.
● The grinding unit, with an installed capacity of 1.1 million metric tonnes per annum (mtpa), along
with a captive railway siding, is located at Parli, Maharashtra.
● The acquisition, valued at Rs 315 crore, was formalized through an asset purchase agreement
between UltraTech Cement and India Cements.
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● After the acquisition, the cement major stated that it will expand the grinding capacity at Parli by
1.2 mtpa with an investment of Rs 166.4 crore.
● UltraTech will also expand capacity at its Dhule plant in Maharashtra by 1.8 mtpa with an
investment of Rs 338 crore.
Happiest Minds to Acquire PureSoftware Technologies for Rs 779 Crore
● IT company Happiest Minds Technologies Limited has signed definitive agreements to acquire
100% of the equity share capital of PureSoftware Technologies Private Limited for a total
purchase consideration of $94.5 million (Rs 779 crores).
● Financial Terms of the Acquisition : The acquisition includes an upfront cash payment of Rs 635
crore.
● A deferred payment of up to Rs 144 crore will be made at the end of FY25, subject to meeting
specific performance targets.
● Impact on Happiest Minds:The acquisition is expected to strengthen Happiest Minds' domain
expertise in Banking, Financial Services, Insurance (BFSI), and Healthcare and Life Sciences.
About Happiest Minds :
● Executive chairman : Ashok Soota
About PureSoftware :
● Headquarters : Noida, Uttar Pradesh
● PureSoftware is engaged in the business of providing digital engineering and transformation
services and software solutions to its customers.
SPORTS NEWS
Nakajima wins Indian Open title with record winning score, India's Ahlawat tied for second
• Keita Nakajima won the Hero Indian Open by four shots with a total of 17-under, setting a new
record.
• This marked Nakajima's fifth title overall, with four coming from the Japanese Tour, one of which
he earned as an amateur.
• He topped the 2023 Order of Merit, which allowed him to earn his DP World Tour card.
• Ahlawat tied for second place, which was his best finish on the DP World Tour and should give him
a spot in the upcoming event in Korea in two weeks' time. Ahlawat was also the top Indian golfer
for the second year in a row.
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Rohan Bopanna and Matthew Ebden win the Miami Masters doubles title
• Top seeds Rohan Bopanna and Matthew Ebden won the $10,404,205 ATP Masters tennis
tournament in Miami by defeating second seeds Ivan Dodig and Austin Krajicek 6-7(3), 6-3, [10-6].
• They had earlier won the Australian Open in Melbourne and this was their second title of the
season.
• Rithvik Bollipalli and Niki Poonacha won the doubles title in the Challenger event in San Luis
Potosi, Mexico.
Hardik Singh and Salima Tete were named the Player of the Year for 2023
• Hardik Singh and Salima Tete were named the Player of the Year for 2023 among men and
women respectively at the sixth annual Hockey India awards even as the federation announced
the revival of the Hockey India League (HIL) in January 2025.
• With a total prize pool of ₹7.56 crores, the awards saw teams and individuals felicitated for their
achievements in the past year.
• Hardik, who was also the FIH Player of the Year, was presented the Balbir Singh Sr. Trophy and a
cash prize of ₹25 lakhs.
WTT Feeder Varazdin 2024 Event To Begin In Croatia

• In Table Tennis, the WTT Feeder Varazdin 2024 event is set to begin in Croatia.
• The competition will feature prominent Indian players such as Sathiyan Gnanasekaran and Manika
Batra, among others.
• Along with Sathiyan, Payas Jain, Harmeet Desai and Snehit Suravajjula will compete in the round
of 64 of the Men’s singles event, while in women’s singles, Reeth Tennison and Yashaswini
Ghorpade will represent India in the round of 64.
Italy’s Jannik Sinner Clinches Men’s Single Title Of Miami Open Tennis In US
• In Tennis, Italy’s Jannik Sinner won the Men’s Singles title of Miami Open tournament in the United
States.
• Second seed Sinner defeated 11th seed Bulgarian player Grigor Dimitrov 6-3, 6-1 in the final.
• In a major upset, Collins defeated fourth-seeded Elena Rybakina of Kazakhstan in straight sets 7-
5, 6-3 in the final.
• Earlier, Indian Tennis star Rohan Bopanna and his Australian partner Matthew Ebden clinched the
historic Men’s doubles title.
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• The duo defeated Croatia’s Ivan Dodic and American Austin Krajicek 6-7, 6-3, 10-6.
Miami Open Tennis: Unseeded American Player Danielle Collins Wins The Women’s Singles Title
• In Miami Open Tennis, unseeded American player Danielle Collins has won the Women’s Singles
title.
• In a major upset, Collins defeated fourth-seeded Elena Rybakina of Kazakhstan in straight sets 7-
5, 6-3 in the Women’s Singles final in Florida.
• Earlier, Indian Tennis star Rohan Bopanna and his Australian partner Matthew Ebden clinched a
historic victory in the Men’s doubles final.
• The duo defeated Croatia’s Ivan Dodic and American Austin Krajicek 6-7, 6-3, 10-6.
Mirabai Chanu Becomes The Only Indian Weightlifter To Qualify For Paris Olympics
• Tokyo Olympics medallist Mirabai Chanu became the only Indian weightlifter to qualify for the Paris
Olympics this year(2024) after competing successfully at the IWF World Cup in Phuket, Thailand.
• The 29-year-old Olympic silver medalist finished third in Group B of the women’s 49kg (and 11th
overall) at the event to book her berth at the 2024 Paris Games.
• Chanu, who is back in action after a six-month-long injury lay-off, lifted 184kg at the World Cup, the
final and compulsory qualifier for Paris 2024.
Odisha thrash Kickstart to clinch maiden Indian Women’s League crown

• In the concluding match of the league, Odisha FC clinched the title in style with an impressive 6-0
win over Kickstart FC at the Kalinga Stadium, Bhubaneswar.
• With this victory, they dethroned defending champions Gokulam FC, who were known as the
undisputed leaders of Indian women’s football.
• Odisha FC Women, formed in 2022, earned the top spot with 31 points from 12 matches, which put
them two points ahead of their closest competitors, Gokulam Kerala FC.
Bindyarani Devi bags bronze medal in weightlifting World Cup

• Commonwealth Games medallist weightlifter Bindyrani Devi clinched the bronze medal in the
women's 55kg event at the IWF World Cup.
• Competing in a non-Olympic weight class, the 25-year-old lifted a total of 196kg (83kg+113kg) to
claim the last spot on the podium.
• However, it was an underwhelming display by the Manipuri lifter, who had won the CWG silver in
Birmingham with a total effort of 203kg in 2022.
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Olympic Champion Swimmer Joseph Schooling Announces Retirement

• Joseph Schooling, who famously beat his idol Michael Phelps in Rio to become Singapore’s first
and only Olympic champion, was retiring from competitive swimming.
• Joseph Schooling wins Singapore's first-ever gold medal
• How Singapore’s Joseph Schooling toppled swimming royalty
Dipendra Singh Airee becomes the third player to hit six sixes in an over in T20Is
• Dipendra Singh Airee of Nepal became only the third player to hit six sixes in an over in a T20I
during the match against Qatar.
• Airee hit Kamran Khan for 36 runs in the last over of the innings during the seventh match of the
ACC Men’s Premier Cup being held at AI Amerat Cricket Ground in Oman.
• Dipendra ended up with a score of 64 in 21 balls which included three fours and seven sixes.
Asian Wrestling Championship: Udit Bags Silver, Abhimanyu and Vicky Claim Bronze Each
• Rising Indian wrestler Udit settled for a silver medal after a 4-5 loss to Kento Yumiya of Japan in
the men’s freestyle 57kg final at the senior Asian Championship.
• India also won two bronze medals through Abhimanyu and Vicky in their respective categories.
• Abhimanyu defeated Begijon Kuldashev of Uzbekistan 6-5 in men’s 70kg freestyle, while Vicky
pinned down home favourite Andrey Romanovitch Aronov 10-1 in the men’s 97kg for India’s third
medal of the day.
Max Verstappen, representing the Red Bull team, dominated the Japanese Grand Prix.
• At the Japanese Grand Prix, Red Bull's Max Verstappen put on a dominant display, securing his
third victory out of four races in the 2024 season.
• Verstappen, who is a triple world champion, started the race from pole position and led his
teammate Sergio Perez to the first turn.
• He maintained his lead throughout the race, showcasing his exceptional driving skills and control of
the car.
• Verstappen's performance at the Japanese Grand Prix was a remarkable comeback after he had
to retire from the previous race due to a brake issue.
Nagal stuns world number 38 Arnaldi, makes history at Monte Carlo Masters
.
• Sumit Nagal became the first Indian player to win a singles main draw match at an ATP Masters
event on clay when he shocked world number 38 Matteo Arnaldi in a gruelling three-set contest
in Monte Carlo.
• Nagal, who entered the ATP Masters 1000 event via qualifying route, erased a one-set deficit to
turn the tables on his Italian opponent for a memorable 5-7, 6-2, 6-4 win in the first round.
• He will face world number seven Holger Rune in the 2nd round.
India’s D Gukesh Beats Nijat Abasov In 5th Round Of FIDE Candidates At Toronto
• In Chess, India’s D Gukesh managed to secure victory over Nijat Abasov in the fifth round of FIDE
Candidates in Toronto, Canada.
• Gukesh, the second youngest player ever to compete at the prestigious Candidates tournament, is
now the joint leader in the Open category with Ian Nepomniachtchi at 3.5 points.
• Meanwhile, Gukesh’s compatriots Praggnanandhaa and Vidit Gujrathi were both held to draws by
heavily favoured opponents.
About Canada
• Capital: Ottawa
• Currency: Canadian Dollar
• Prime Minister: Justin Trudeau
Neeraj Chopra to compete in Finland's Paavo Nurmi Games

• Superstar Indian javelin thrower Neeraj Chopra will compete in the prestigious Paavo Nurmi
Games in Turku, Finland, where he will be up against 19-year-old sensation Max Dehning of
Germany, the latest entrant in the 90m club.
• The 26-year-old Chopra, who will begin his season in the Doha Diamond League Meeting on May
10, had won a silver in the 2022 edition of the Paavo Nurmi Games with a throw of 89.30m -- his
career second best -- while he pulled out of the event in 2023 as he was recovering from an injury
then.
Badminton Asia Championship 2024 to Begin In Ningbo, China

• The 2024 edition of the Badminton Asia Championship will begin in Ningbo, China.
• Star shuttlers, including H S Prannoy, Kidambi Srikanth, Lakshya Sen, PV Sindhu and others will
represent the Indian contingent.
.
• In Men’s singles, H S Prannoy will take on Lu Guangzhou of China whereas Kidambi Srikanth will
lock horns with Anthony Ginting of Indonesia in the opening round.
About China:
• Currency: Chinese Yuan
Arjun-Jeevan duo clinches Challenger crown

● Third seeds Arjun Kadhe and Jeevan Nedunchezhiyan beat second seeds Piotr Matuszewski
and Matthew Romios 7-6(5), 6-4 in the doubles final of the $82,000 Challenger tennis tournament
in Cuernavaca, Mexico.
● The champion team collected $4665 and 75 ATP points.
● The runners-up got $2700 and 50 points.
● It was the 33rd doubles title for the 35-year-old Jeevan, and his 12th Challenger doubles title.
● For the 30-year-old Arjun, it was his 19th doubles title, and sixth Challenger title.
Badminton Asia Championships 2024: Jonatan Christie Wins Maiden Continental Title As Wang Zhi Yi
Grabs Second
● Indonesian shuttler Jonatan Christie captured his first continental title by beating home favourite
Li Shi Feng in the men’s singles final at the 2024 Badminton Asia Championships in Ningbo,
People's Republic of China.
● The reigning All England Open champion was in fine form, winning the match in straight games
(21-15, 21-16) to upgrade the silver he won in Manila 2022 to gold.
Stefanos Tsitsipas wins Monte Carlo Masters for third time
● Stefanos Tsitsipas completed a Monte Carlo Masters trophy hat-trick, holding off Casper Ruud 6-
1, 6-4 in a display of “ruthless” tennis.
● The 12th-ranked Greek, who will return to top 10, also won the title in the principality in 2021 and
2022.
● Tsitsipas produced 30 winners to the 20 of Ruud who had reached the final with victory over
world number one Novak Djokovic.
● He is the fifth man to win three or more Monte Carlo titles, joining Rafael Nadal (11) and Bjorn
Borg, Thomas Muster and Ilie Nastase who won three apiece.
Wrestling, Asian C’ships: Radhika and Shivanee Pawar add two medals to India’s tally in Bishkek
.
● Indian grapplers Radhika and Shivanee Pawar won silver and bronze medals respectively at the
2024 Asian Wrestling Championships in Bishkek, Kyrgyzstan.
● Radhika, who had won silver at the Under-23 Asian Championships in 2023, lost the gold medal
match to Japan’s Nonoka Ozaki in the women’s 68kg category by technical superiority.
● Radhika reached the final after a win against Kazakhstan’s Albina Kairgeldinova in the opening
match and then beat home favourite Gulnura Tashtanbekova by pinning her down to reach the
final.
Mohun Bagan pip Mumbai City to win maiden ISL League Shield
● A dominant Mohun Bagan defeated Mumbai City FC 2-1 to win their maiden ISL League Shield.
● Liston Colaco (28th), and Jason Cummings (80th) struck for Mohun Bagan, while Lallianzuala
Chhangte struck for Mumbai City FC against the run of play in the 89th minute when he
converted a freekick from Yoell Van Nieff.
● This was Mohun Bagan's first victory over the two-time Shield Winners across four seasons as
the Mumbai heavyweights were also unbeaten over them in previous eight matches, winning six
of them.
● The top-two teams, Mohun Bagan and Mumbai City, will directly play the semi-finals, while the
sides from third to sixth -- Goa, Odisha, Kerala Blasters and Chennaiyin -- will play single leg
playoff in a knockout format to determine the other two semifinalists.
● The ISL summit clash will be on May 4.
Alekna Breaks 38-yr-old Discus World Record
● Mykolas Alekna broke the longest-standing world record in men's athletics, producing a
mammoth 74.35-meter discus throw to shatter the nearly 38-year-old previous best mark.
● The 21-year-old Lithuanian, a silver medalist at the 2022 World Championships and bronze
medalist at last year's Budapest Worlds, broke the record at the Oklahoma Throws Series World
Invitational in Ramona, Oklahoma.
India’s D. Gukesh Stayed On Top Of Leaderboards Of FIDE Candidates 2024
● In Chess, India’s D. Gukesh stayed on top of the leaderboards after playing out a draw against
the joint leader Ian Nepomniachtchi in round ten of the FIDE Candidates 2024 at the Great Hall in
Toronto, Canada.
● Meanwhile, Vidit Gujrathi agreed to a draw against compatriot R Praggnanandhaa.
● With just four games left in the event, 18-year-old Praggnanandhaa is just half a point behind the
.
tournament leaders.
● The American duo of Hikaru Nakamura and Fabiano Caruana are also with Praggnanandhaa,
which means five people are still in contention to win the open section.
Rashmi Kumari wins national women’s carrom title for the 12th time
● Three-time World Champion Rashmi Kumari beat K Nagajothi 25-8, 14-20, 25-20 in the women’s
final of the 51st National Carrom championship organised by the Madhya Pradesh Carrom
Association.
● It was a record 12th national women’s singles title for Rashmi, employed as the Chief Manager at
the Oil and Natural Gas Corporation (ONGC).
● The men’s title was bagged by K Srinivas as he beat S Aditya 25-0, 19-6 in the final.
● It was the fourth national men’s singles title for Srinivas who was brilliant in the tournament,
executing seven white slams.
● The championship, sponsored by the Petroleum Sports Promotion Board (PSPB) and SYNCO
carrom company, had 237 men and 174 women participants from 12 institutions and 27 States.
India Clinches 2 Silver, and 2 Bronze Medals At 13th European Girls’ Mathematical Olympiad 2024 at
Tskaltubo, Georgia
● The Indian team has secured 2 Silver and 2 Bronze medals in the 13th European Girls’
Mathematical Olympiad (EGMO) 2024.
● This Olympiad was held in Tskaltubo, Georgia.
● Gunjan Agarwal of Gurgaon and Sanjana Philo Chacko of Thiruvananthapuram won Silver
medals while Larissa from Hissar and Pune’s Saee Patil won Bronze medals.
● This achievement marks the second instance of all four contestants securing medals at EGMO
since India’s debut in 2015.
Former World No. 1 Kento Momota announces retirement at 29
● 29-year-old former world champion Kento Momota announced that he was retiring from
badminton, citing mental and physical issues amid a lean patch at the highest level.
● The former World No. 1 confirmed that he will not represent his country again after the Thomas
and Uber Cup, scheduled to be held in Chengdu in China from April 27.
● Momota last played in the Badminton Asia Team Championships in Shah Alam in January before
which he failed to qualify for the main draw at Indonesia Masters.
Balraj Panwar Secures India’s 1st Paris Olympics Quota In Rowing In Men’s Single Scull Event Of 2024
.
World Asian, Oceanian, Olympic & Paralympic Qualification Regatta

● Balraj Panwar secured India’s first Paris Olympics quota in rowing by securing third position in
the men’s single scull event of the 2024 World Asian and Oceanian Olympic and Paralympic
Qualification Regatta at Chungju in South Korea.
● The 25-year-old rower from the Indian Army demonstrated remarkable performance by clocking 7
minutes and 1.27 seconds in the 2000-metre race and securing the quota.
● In the men’s single scull category, the top five finishers earn an Olympic berth.
Vinesh Phogat, Anshu Malik, And Reetika Hooda Secured Quotas For the 2024 Paris Olympics
● In wrestling, India’s star woman grapplers, Vinesh Phogat, Anshu Malik, and Reetika Hooda,
clinched the Paris Olympics 2024 quota at the Asian Olympic qualifiers in Kyrgyzstan’s Bishkek.
● Phogat beat Laura Ganikyzy of Kazakhstan, 10-Nil, in the 50 kg category, while Anshu defeated
Laylokhon Sobirova of Uzbekistan in the 57 kg category, 11-Nil.
● Reetika defeated Hui T. Chang of Chinese Taipei, 7-Nil, in the 76 kg category.
Candidates Chess Tournament: India’s D Gukesh Defeats Nijat Abasov In 12-Round
● In the Candidates Chess Tournament, India’s D. Gukesh produced another brilliant victory in the
12th round, defeating the bottom-placed Nijat Abasov at the Great Hall in Toronto, Canada.
● Gukesh now jointly leads the points table of the Open section at 7.5 points, along with Russia’s
Ian Nepomniachtchi and the American Hikaru Nakamura, and set up an exciting finale with two
more rounds to go.
● Another Indian R. Praggnanandhaa’s draw against the unbeaten Nepomniachtchi also helped the
17-year-old Gukesh to reach the top of the table.
Balraj Panwar secures India's first quota in rowing for Paris Olympics
● Balraj Panwar proved his talent by confirming his Paris Games berth by clinching the single scull
bronze at the Asia-Oceania Olympic Qualification rowing competition in Chungju, South Korea.
● Para rowers Anita and Narayana Konganapalle also made their trip to France official after winning
the mixed double scull gold ahead of Thailand's Chintana Chueasaart and Poramin
Phongamthippayakul - only two boats featured in the event.
Rybakina Wins Her Third Title This Season at Stuttgart Open
● World No.4 Elena Rybakina captured her third Hologic WTA Tour title of the year after defeating
No.27 Marta Kostyuk 6-2, 6-2 in the final of the Porsche Tennis Grand Prix.
.
● Stuttgart is Rybakina's eighth career title and third on clay, following wins at 2023 Rome and 2019
Bucharest.
Karnataka's Nandini dairy to sponsor Ireland and Scotland teams in upcoming T20 World Cup
● The state-owned dairy brand in Karnataka, Nandini, is all set to present itself on a global stage
during the cricket T20 World Cup scheduled in June this year(2024).
● Karnataka Milk Federation (KMF)’s Nandini will sponsor Scotland and Ireland cricket teams during
the upcoming cricket tournament.
● This is the first time for a home-grown brand, which was in the news during the assembly elections,
to sponsor international cricket teams.
● Nandini is also reportedly going to enter the energy drink market in the United States with ‘Nandini
Splash,’ a whey-based energy drink.
Saurav Ghosal Announces Retirement From Professional Squash, To Continue To Play For India
● Indian squash player Saurav Ghosal announced his retirement from professional squash.
● During his career, Ghosal won 12 Professional Squash Association (PSA) titles and multiple medals
at the Commonwealth Games (CWG) and Asian Games.
● He is also the only Indian man to enter the top 10 in the World rankings.
● He is also the first Indian male player to secure a CWG squash medal in a singles competition at the
same event.
● He has also won the World Doubles Championships gold medal after partnering compatriot Dipika
Pallikal Karthik in the mixed event at the 2022 Glasgow competition.
Novak Djokovic, Simone Biles, Aitana Bonmati, Jude Bellingham Among Winners At the 2024 Laureus
Awards
● Novak Djokovic, Simone Biles, Aitana Bonmatí, and Jude Bellingham were honoured at the 2024
Laureus Sports Awards ceremony held in Madrid.
● Novak Djokovic, the world's top-ranked tennis player, was named the Laureus World Sportsman of
the Year for the fifth time, matching Roger Federer's record for the most decorated male athlete in
this category.
● Djokovic had previously won this award in 2012, 2015, 2016, and 2019.
● Bonmati became the first footballer to win the Laureus Sportswoman of the Year Award, after a
golden year that included Liga F and Champions League titles with Barcelona, and a World Cup with
Spain.
.
● USA’s Simone Biles, meanwhile, was honoured with the Laureus World Comeback of the Year
Award.
● Jude Bellingham won the Laureus World Breakthrough of the Year Award.
● Arisa Trew became the first female skater to win the Action World Sportsperson of the Year Award.
● The 13-year-old Australian made history in 2023 in becoming the first female athlete to land a 720
(two full rotations) in vert skateboarding
● Diede de Groot became the second wheelchair tennis player – after Esther Vergeer’s success in
2008 and 2002 – to pick up the Laureus World Sportsperson of the Year with a Disability Award.
● The Laureus World Sports Awards is an annual event that started in 2000. It celebrates great and
inspiring sporting achievements and also showcases Laureus Sport for Good's initiatives.
AIFF records historic 138 pc rise in women’s footballers in last 21 months
● Indian football has recorded a historic 138 percent surge in women’s player registration for the last
two years, indicating a healthy growth in the popularity of the sport as well as an increase in young
female athletes opting for football, professionally.
● According to the All India Football Federation (AIFF) Central Registration System (CRS) data, India
has 27,936 registered female footballers as of March 2024.
● This is a massive 138 per cent rise in the number of female footballers in the last 21 months.
● India also has 24 active State Leagues for women’s football, which acts as the 3rd tier of the
pyramid and has helped the national federation populate the sport among the masses.
Langam Chaoba Devi Set to be Indian Women National Football Team Coach
● Former player Langam Chaoba Devi is set to take over as the national women’s football coach after
the I M Vijayan-led AIFF technical committee recommended her name for the position.
● The 51-year-old Devi, who captained the national side in the 1999 Asian Championships in
Philippines, has earlier been an assistant coach of the Indian team.
● The Manipuri has also represented the country in the 1998 Bangkok Asian Games.
● Devi is the only female coach from the north-east region to have an AFC ‘A’ License coaching
badge.
India's Velavan Senthilkumar Wins Batch Open Squash
● India’s Velavan Senthilkumar secured his eighth Professional Squash Association Tour title by
winning the Batch Open Challenger.
● World No 58 Senthilkumar beat Frenchman Melvil Scianimanico 11-6, 11-9, 11-6 in the final
.
● National champion Velavan Senthilkumar advanced to his career 12 th Professional Squash

Association final at the USD 12,000 Batch Open Challenger Tour event in Paris.
● The top-seeded Indian, ranked 58 in the world, defeated Hong Kong’s Andes Ling 11-2, 11-1, 11-6
in 22 minutes in the semifinal, and took on Frenchman Melvil Scianimanico for the title.
Lionel Messi scores twice as Inter Miami beat New England
● Lionel Messi’s brace led Inter Miami to a 4-1 victory over the New England Revolution in Foxboro,
Massachusetts.
● Benjamin Cremaschi and Luis Suarez scored the other goals for Miami (6-2-3, 21 points), which has
points in five straight games.
● Miami improved to 4-3-0 all-time against the Revolution and avoided a third straight loss in Foxboro.
BOOKS AND AUTHOR

Salman Rushdie to release 'Knife' memoir recounting stabbing
● Booker Prize-winning author Salman Rushdie’s memoir "Knife" has been released.
● In 'Knife', Salman Rushdie has an imaginary conversation with his attacker.
● On this occasion, has spoken in detail about the moment he was attacked by a man with a knife
on a stage in New York in 2022.
● Rushdie's second novel, Midnight's Children (1981), won the Booker Prize in 1981.
OBITUARIES
Asian Games Veteran Deanna Syme Tewari Passed away
• Former Asian Games athlete and a torchbearer at the 1982 Delhi edition, Deanna Syme Tewari,
passed away in Dubai at the age of 85.
• Deanna Syme represented the State in the National Athletics Championship in erstwhile Bangalore
in 1957, and won the long jump gold, leapfrogging Aunt Marjorie's record.
• But her finest moment came in the 1958 National Games where she set a national mark by
recording 17 feet and 8 inches for the gold.
World War II Veteran Subedar Thanseia of the Army Passes Away
• Subedar Thanseia, a distinguished World War II veteran of the Indian Army, whose actions at the
crucial Battle of Kohima against formidable odds, contributed to a pivotal victory for the Allied
forces, has passed away at the age of 102.
.
• Hailing from Mizoram, Subedar Thanseia served with distinction in the Indian Army, particularly
during World War II.
• His valour and leadership were instrumental in shaping the legacy of the 1st Assam Regiment,
especially during their deployment at Jessami.
South African Footballer and Olympian Luke Fleurs Fatally Shot in Carjacking Incident
• South African footballer and Olympian Luke Fleurs has been killed in a hijacking in Johannesburg
at the age of 24.
• Fleurs was born in Cape Town on 3 March 2000.
• He made his National First Division debut aged 17 and made 18 league appearances in his first
season of professional football.
• He previously played for the national under-23 side, representing South Africa at the Tokyo
Olympics.
Renowned Physicist Peter Higgs, Pioneer of the 'God Particle' Discovery, Passed away
• Peter Higgs, the British physicist who won a Nobel Prize in 2013 for his discovery decades earlier
of a theoretical mechanism to explain the origin of mass in the universe, has passed away at the
age of 94.
• Peter Ware Higgs was born in Newcastle-upon-Tyne in northeast England on May 29, 1929.
• He was a British theoretical physicist, professor at the University of Edinburgh.
Iconic Ramsay Brothers' Cinematographer Gangu Ramsay Passed Away
• Cinematographer-filmmaker Gangu Ramsay, one of the seven Ramsay Brothers known for cult
horror films such as Purani Haveli and Tehkhana, passed away at the age of 83.
• Gangu Ramsay's career spanned decades as he worked on over 50 iconic films under the Ramsay
Brothers banner, including classics like Veerana, Purana Mandir, Bandh Darwaza, Do Gaz
Zameen Ke Neeche, Saamri, Tahkhana, Purani Haveli, and Khoj.
Renowned Fashion Icon Roberto Cavalli, Known for Leopard Print Designs, Passed Away
• Renowned Italian fashion designer Roberto Cavalli, celebrated for his bold python and extravagant
animal prints that captivated the global jet set, has passed away at the age of 83.
• Cavalli was born on 15 November 1940 in Florence,Italy renowned for its leatherwork and
craftsmanship.
• He debuted in the 1970s with daring designs that were embraced by icons like Sophia Loren and
Brigitte Bardot.
.
Legendary England Spin Bowler Derek Underwood Passed Away

● Derek Underwood, England's best spinner in the post-World War II era, who gave a torrid time to
the legendary Sunil Gavaskar, passed away at the age of 78.
● Underwood was born on June 8, 1945, in Bromley, Kent, England.
● He played 676 first-class games and 411 List-A games, claiming a total of 2,465 and 572 wickets
respectively.
● He was ranked as the No. 1 bowler in the world by the ICC Men's Test Player rankings from
September 1969 to August 1973.
● He served as the President of Kent Cricket Club in 2006, the President of Marylebone Cricket
Club (MCC) in 2008, and was inducted into the ICC Hall of Fame in 2009.
● He was inducted into the ICC Hall of Fame in 2009, recognizing his significant contributions to
the sport.
Renowned Carnatic Musician K.G. Jayan Passed Away
● Acclaimed Carnatic musician K.G. Jayan, the father of front-line Malayalam actor Manoj K.
Jayan, passed away at the age of 90.
● K. G. Jayan born on 21 November 1934 in Kottayam, Travancore, India
● He was renowned for his devotional songs and had composed over 1,000 songs during his
career.
● He, along with his twin brother, KG Vijayan was known in the world of South Indian music as
Jaya-Vijaya brothers.
Awards & Honors :
● 1991 – Kerala Sangeetha Nataka Akademi Award – Government of Kerala
● 2013 – Harivarasanam Award – Government of Kerala and Travancore Devaswom Board
● 2019 – Padma Shri – 4th highest civilian award in India
World Cup-winning German Soccer Player Hoelzenbein Passed Away
● Bernd Hoelzenbein, the 1974 World Cup-winning striker for Germany, passed away at the age of
78.
● Hoelzenbein played as a striker or winger and scored five goals in 40 matches for West
Germany.
● Additionally, he achieved success at the club level, winning three German Cups with Frankfurt
.
and the UEFA Cup in 1980.

● He also holds the club record for Frankfurt with 215 goals scored in 532 competitive appearances
between 1967 and 1981.
● He made significant contributions to Frankfurt's success, being part of the golden generation of
the 1970s and the UEFA Cup-winning team in 1980.
Ex-England Test batsman Raman Subba Row passed away
● The former England batter Raman Subba Row passed away at the age of 92.
● At the time of his death, he was England’s oldest living men’s Test cricketer.
● Raman Subba Row was born in Streatham, Surrey, England on 29 January 1932.
Father of Indian psychoanalysis Sudhir Kakar Passed away
● Sudhir Kakar, India’s foremost psychoanalyst who helped readers understand Indian men and
women like none other, passed away at the age of 85.
● Sudhir Kakar was a novelist and author in the fields of cultural psychology and the psychology of
religion.
● In 2012, Kakar was conferred Order of Merit by Germany, the country’s highest civilian honour
for special achievements in political, economic, cultural and intellectual fields.
● The German weekly Die Zeit described Kakar as one of “21 important thinkers for the 21st
century”.
● Kakar was honoured with numerous awards for his work, including the Kardiner Award of
Columbia University, Germany’s Goethe Medal and the Distinguished Service Award of the Indo-
American Psychiatric Association.
Renowned Senior Journalist Sarabjit Singh Pandher Passed away
● Senior journalist and former president of the Chandigarh Press Club Sarabjit Pandher passed
● Sarabjit Singh Pandher was born in 1964 in Ludhiana, Punjab
● He was elected President and Secretary General of the Chandigarh Press Club twice,
demonstrating his leadership and influence within the journalistic community.
.
Important Monthly Current Affairs Capsule – May 2024
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2. NATIONAL NEWS 09
4. STATE NEWS 32
5. BUSINESS NEWS 35
15. SPORTS NEWS 196
16. OBITUARIES 210
.
IMPORTANT DAYS
International Labour Day: May 1
• International Labour Day is celebrated every year on May 1. International Labor Day 2024 is also
known as May Day.
• International Labour Day originated in 1889 when a group of socialist parties in Europe decided to
designate May 1 as a special day for workers, which they called International Labour Day or
Workers Day.
Gujarat Day 2024: Observed on 1 May
• Gujarat Day or Gujarat Foundation Day or Gujarat Sthapana Divas is celebrated every year on 1
May.
• Two states, Maharashtra and Gujarat, were formed after the partition of Bombay based on
language in 1960.
• These two states were carved out of Bombay State by the Bombay Reorganization Act in 1960,
due to the demands of the Gujarati and Marathi-speaking people.
Maharashtra Day 2024: May 1
• Maharashtra Day, celebrated on May 1st every year, marks the creation of the state of
Maharashtra in 1960.
• Maharashtra Day celebrates the linguistic and cultural identity of the Marathi people.
• The Samyukta Maharashtra Samiti (United Maharashtra Committee) formed in 1956 became the
driving force behind the movement.
• They advocated for a separate state encompassing Marathi-speaking regions that were then part
of the Bombay State.
World Tuna Day 2024: May 2
• World Tuna Day, observed annually on May 2 is dedicated to raising awareness about the critical
importance of tuna conservation.
• World Tuna Day was initially proposed by the Parties to the Nauru Agreement (PNA) during a
meeting of the Western and Central Pacific Fisheries Commission (WCPFC) in 2011.
World Press Freedom Day 2024: May 3
• World Press Freedom Day is observed on 3 May every year.
• This day is dedicated to the fundamental principles of press freedom and to defending the media
from attacks on their independence.
.
• The Theme of World Press Freedom Day 2024 is "A Press for the Planet: Journalism in the Face
of the environmental crisis".
Coal Miners Day 2024 In India - May 4
• Every year, Coal Miners Day is celebrated on May 4.
• This day is celebrated for the miners who are working in the field.
• The history of Coal Miner's Day dates back to 1952, when the Mines Act, was passed. This
legislation provided for the provision of medical facilities, safety and health measures, and rescue
stations for coal miners.
• The first coal mine in India was opened in 1774 by John Summer and Suetonius Grant Heatly of
the East India Company.
World Laughter Day 2024: May 5
• Every year World Laughter Day is celebrated on the first Sunday of May and this year(2024) World
Laughter Day falls on the 5th of May.
• Every year on the first Sunday of May, World Laughter Day was observed to promote awareness
about laughter and its health benefits.
• World Laughter Day was celebrated in 1998 when Dr. Madan Kataria announced the first
celebration of this day on May 10.
World Asthma Day 2024 - May 7
• Every year World Asthma Day is celebrated on the First Tuesday of May.
• This year(2024), World Asthma Day was celebrated on May 7.
• In celebration of World Asthma Day 2024, the Global Initiative for Asthma (GINA) has selected the
theme of “Asthma Education Empowers”.
• This day is celebrated to raise awareness among people about Asthma.
• The Global Initiative for Asthma (GINA) was established in 1993.
• The first World Asthma Day was observed in the year 1998.
World Red Cross And Red Crescent Day 2024 - May 8
• World Red Cross and Red Crescent Day are celebrated every year on May 8.
• This initiative was studied by an International Commission established at the 14th International
Conference on the Red Cross.
• Immediately after World War I, the world needed peace and stability.
.
• In 1948, the Board of Governors of the League of the Red Cross Societies proposed to celebrate
the birth anniversary of Henry Dunant, the founder of the Red Cross and the International
Committee of the Red Cross (ICRC).
World Thalassaemia Day 2024 - May 8
• World Thalassaemia Day is celebrated every year on May 8.
• This day is celebrated to raise awareness about the struggles of patients suffering from genetic
disorders and raise awareness about Thalassaemia.
• The Theme of World Thalassaemia Day 2024 is "Empowering Lives, Embracing Progress:
Equitable and Accessible Thalassaemia Treatment for All".
• The history of World Thalassemia Day dates back to 1994 when the Thalassemia International
Federation (TIF) first established the day.
National Technology Day 2024 - May 11
• National Technology Day is celebrated every year on May 11.
• This day is observed to commemorate the importance of Scientists, Research, etc.
• This day is celebrated to raise awareness about the Technology that is developed day by day.
• The history of National Technology Day in India dates back to 1998, when the Indian Army
conducted five nuclear bomb tests (Pokhran- II) in Rajasthan under the surveillance of the then
Prime Minister of India Atal Bihari Vajpayee.
• The first National Technology Day was observed on 11 May 1999.
International Nurses Day 2024 - May 12
• International Nurses Day is celebrated every year on May 12.
• The theme for International Nurses Day 2024 is Our Nurses. Our Future. The economic power of
care.
• In 1953, US Department of Health, Education, and Welfare officer Dorothy Sutherland contacted
US President Dwight.D.Elsenhower to celebrate “Nurses Day”.
• Since 1965, the International Council of Nurses (ICN) has celebrated this day.
• From January 1974, May 12 was officially declared “International Nurses Day”.
International Day Of Families 2024 - May 15
● International Day of Families is celebrated every year on May 15.
● This day is celebrated to raise awareness about the importance of Family.
● The theme for International Day of Families 2024 is “Families and Climate Change.”
.
● International Day Of Families was first observed by the United Nations General Assembly (UNGA) in
the year 1994.
● International Day Of Families is celebrated as the 30th anniversary of International Day Of Families
by the United Nations.
● In 1985, the Economic and Social Council invited the General Assembly to conduct the forty-first
session named “Families in the Development Process”.
World Telecommunication And Information Society Day 2024 - May 17
● World Telecommunication And Information Society Day 2024 is celebrated on May 17.
● The United Nations General Assembly(UNGA) declared May 17 as World Telecommunication and
Information Society Day.
● In the year 1865, the International Telecommunication Union was founded, when the first Indian
Telegraph Convention was signed.
● In 2005, the World Summit on the Information Society asked the United Nations to declare May 17
as World Telecommunication Day to be observed every year.
World Hypertension Day 2024 - May 17

● World Hypertension Day 2024 is celebrated on May 17.
● This day is prompted by the World Hypertension League(WHL).
● The Theme of World Hypertension Day 2024 is “Measure Your Blood Pressure Accurately, Control
it, Live Longer!”.
● The World Hypertension League (WHL) established World Hypertension Day to increase public
awareness of hypertension.
● The World Hypertension League sponsored the inaugural World Hypertension Day on May 14, 2005.
● May 17 has been recognized as World Hypertension Day annually since 2006.
International Museum Day 2024 - May 18

● International Museum Day is celebrated every year on May 18 to raise awareness about the
museums in society.
● The theme for International Museum Day 2024 is “Museums for Education and Research”.
● The International Council of Museums(ICOM) has promoted this day every year since 1977.
● The International Council Of Museums (ICOM) conducted a general meeting in Moscow, Russia to
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adopt the day for museums.

● After that, the first International Day Of Museums was first established in 1977.
● The theme for International Museum Day was first established in 1992.
World AIDS Vaccine Day, or HIV Vaccine Awareness Day, observed on May 18th
● World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on
May 18.
● The day is dedicated to recognising and promoting the need for AIDS vaccines.
What is AIDS?
● AIDS stands for Acquired Immunodeficiency Syndrome, caused by the human immunodeficiency
virus (HIV).
● The disease was first reported in 1981 in the United States.
● If HIV is not treated on time, it can lead to AIDS, which occurs when the body's immune system is
badly damaged and is not able to fight other diseases and infections.
● The day commemorates a speech by then-President Bill Clinton at Morgan State University on
May 18, 1997, emphasizing the importance of creating a vaccine to stop the spread of the
epidemic.
World Metrology Day 2024 - May 20
● World Metrology Day is celebrated on May 20 annually.
● This day is observed to raise the importance of Metrology. Metrology Day is prompted by the
Measurements Standards Laboratory(MSL).
● The first World Metrology Day was held in 1961.
Anti-Terrorism Day 2024 - May 21
● Anti-Terrorism Day is celebrated every year on May 21.
● This day is to commemorate the death anniversary of former Prime Minister Rajiv Gandhi.
● This day is observed on the death anniversary of former Prime Minister Rajiv Gandhi in 1991.
● He was the sixth Prime Minister of India in 1984.
World Day For Cultural Diversity For Dialogue And Development 2024 - May 21
● World Day for Cultural Diversity for Dialogue and Development was observed on May 21.
● UNESCO has adopted this day since 2001.
● UNESCO adopted the World Day for Cultural Diversity in 2001.
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● In 2002, the United Nations General Assembly declared May 21 as World Day for Cultural
Diversity for Dialogue and Development.
International Day For Biological Diversity 2024 - May 22
● International Day for Biological Diversity 2024 is celebrated on May 22.
● This year(2024), the theme of the International Day for Biological Diversity is "Be Part of the
Plan."
● This day is observed to raise awareness about Biological Diversity.
● The aim of International Day for Biological Diversity is to promote diversity issues.
● On December 20, 2000, the day was first observed on 22nd May.
● Bio means life; Diversity means a range of different things and Biodiversity means Diversity of
life.
International Day Of Action For Women’s Health 2024 - May 28
● Every year, International Day of Action for Women's Health is observed on May 28.
● This year(2024), International Day of Action for Women's Health falls on Tuesday.
● THEME: The International Day of Action for Women’s Health 2024 is yet to be announced.
● HISTORY: In 1987, South Africa was first recognized this day as the International Day of Action
for Women’s Health.
● In 1984, the Women’s Global Network for Reproductive Rights (WGNRR) was created to
organize the International Day of Action for Women’s Health.
International Everest Day 2024 - May 29
● International Everest Day 2024 is observed on May 29.
● This day is in the memory of two persons who climbed Mt. Everest in 1953.
● The Theme allocated for International Everest Day 2024 is yet to be released.
● International Mount Everest Day was celebrated in 2008, and it was the day Edmund Hillary
passed away that Nepal decided May 29 as International Everest Day.
International Day Of United Nations Peacekeepers 2024 - May 29
● The International Day of United Nations Peacekeepers is observed every year on May 29.
● The first United Nations Peacekeeping mission was first established in May 1948.
● This year(2024), the theme of International Day of United Nations Peacekeepers 2024 is “Fit for
the future, building better together”.
● In the first UN Peacekeeping Mission in 1948, 3,800 military, police and other personnel lost their
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lives in the service of peace.

World No Tobacco Day 2024 - May 31
● World No Tobacco Day is observed every year on May 31.
● This day is also known as World Anti-Tobacco Day.
● World No Tobacco Day is to spread awareness to the people about the harmful effects of
tobacco which causes cancer, lung disease, etc.
● The theme for World No Tobacco Day 2024 is "Protecting children from tobacco industry
interference".
● In 1987, the World Health Assembly passed a resolution called “World No Smoking Day”.
● In 2008, on World No Tobacco Day, the World Health Organization (WHO) called for a ban on all
tobacco products, advertisements, promotions, and sponsorship.
NATIONAL NEWS
Government makes a push for e-commerce exports’
• The government has decided to extend benefits under the Remissions of Duties and Taxes on
Export Products (RoDTEP) scheme for shipments sent abroad via courier or e-commerce channels
from sectors like gems and jewellery, pharma, leather, textiles and handicrafts, Commerce and
Industry Minister Piyush Goyal announced.
• To enable the Micro, Small and Medium Enterprises to get RoDTEP benefits, particularly for
exports through courier and e-commerce route, the government will extend it to certain products,
which could help exports from MSMEs of anywhere between one billion to two billion dollars a
year.
Geneva-based UN-related body to review India’s human rights accreditation status:
• The National Human Rights Commission (NHRC) is preparing to defend the government’s human
rights processes at a meeting in Geneva, where a decision on whether India’s human rights body
will retain its “A status” is expected to be made.
• The NHRC’s ratings were put on hold in 2023 over concerns about its composition procedure, the
presence of police personnel in human rights investigations, and the lack of gender and minority
representation, and the decision over whether the NHRC is given an A rating or a B rating would
affect its ability to vote at the UN Human Rights Council and some UNGA bodies.
Telecom operators group asks government to ban the sale of unlicensed WiFi 6E routers
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• A group representing telecom operators has sought a ban on the sale of WiFi 6E routers that use
the 6 GHz spectrum band for data transmission, requesting as the government has not yet
determined the utilisation of the frequencies.
• The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Airtel,
and Vodafone Idea, claimed that the routers are being sold on e-commerce platforms such as
Amazon, Flipkart, and Moglix, as well as through offline retailers.
GCMMF’s ‘Manthan’ to be screened at Cannes Film Festival
• Shyam Benegal’s 1976 feature film “Manthan” has been selected for screening at the 77th Cannes
Film Festival, which will be held from May 14
• The Gujarat Cooperative Milk Marketing Federation (GCMMF) and the producer of the film had
joined hands with a not-for-profit organisation --- Film Heritage -- to restore the national award-
winning film in 4K.
• India became the largest milk producer in 1998
• Made with a budget of ₹10 lakh, this is a crowd-funded film.
Government cancels FCRA licences of 6 NGOs over 'violations'
• The Union home ministry has cancelled the Foreign Contribution Registration Act (FCRA) licences
of six non-governmental organisations (NGOs) for their alleged violation of the FCRA rules, misuse
of foreign grants, and religious conversion, among others.
• The cancellation came following a scrutiny by the Centre in March-April this year(2024).
• The NGOs whose registrations have been cancelled are CNI Synodical Board of Social Service,
Voluntary Health Association of India, Indo-Global Social Service Society, Church's Auxiliary for
Social Action, and Evangelical Fellowship of India.
SCOPE’s Art Exhibition cum Painting Competition adds colour to Public Sector Day celebrations
• Encouraging creative minds, artists and upcoming talent, the Standing Conference of Public
Enterprises (SCOPE) organised an Art Exhibition cum Painting Competition at SCOPE Social
Interaction Centre (SSIC), SCOPE Complex, New Delhi, as part of Public Sector Day
celebrations.
• Dr. Vasundhara Upmanyu, Joint Secretary, DPE, Ministry of Finance inaugurated the event in the
presence of Shri Atul Sobti DG, SCOPE, senior officials of PSEs and participants.
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• The painting competition was held on the themes - ‘My Vision for India of tomorrow’, ‘Nation ‘Go
Green’, ‘Nation Building by Public Sector’ and ‘Unleash your imagination through brushes and
strokes.’
IFFCO gets the nod to launch two more nano-tech fertilisers
• Fertiliser major Iffco, which introduced nano liquid urea and nano liquid DAP, stated the central
government has approved its two new products nano liquid zinc and nano liquid copper for the
launch.
• These two products would help in mitigating deficiencies of zinc and copper in agriculture crops
and boost productivity.
• FCO (Fertiliser Control Order) approval has been granted for both these products.
DGCA deregisters all 54 aircraft leased to Go First after Delhi HC order
• The Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft leased to the
now-bankrupt airline Go First, according to officials.
• This move comes in the wake of an order issued by the Delhi High Court on April 26.
• Go First filed for bankruptcy in May 2023.
• The Delhi High Court, on April 26, directed the DGCA to deregister planes leased to Go First
within five working days, providing much-needed relief to the lessors.
India among top 5 developing countries in aviation emissions in 2019: Study
• In 2019, India was among the top five economically developing countries in terms of carbon
dioxide (CO2) emissions from aviation, a new research has found.
• However, among the economically developing countries, India was found to be the third biggest
contributor with close to 3 per cent share in global CO2 emissions from aviation, following China
at 14 per cent and the United Arab Emirates (UAE) at more than 3 per cent.
• The research team at the Norwegian University of Science and Technology also found that
India's share in global CO2 emissions from domestic aviation was the third highest at 1.5 per
cent.
PM Narendra Modi’s photo removed from Covid vaccine certificates
• The Union health ministry has made a notable change to the CoWIN certificates for COVID-19
vaccinations by removing the image of Prime Minister Narendra Modi.
• Previously, these certificates prominently featured Modi's image along with a quote affirming
India's collective resolve to conquer coronavirus.
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• While the quote – “Together, India will defeat COVID-19” – remains attributed to the prime
minister, his name has been omitted from the certificates, The Hindu reported.
Indian Institute of Astrophysics releases video of moon occulting Antares
• The Bengaluru-based Indian Institute of Astrophysics (IIA) has filmed the passing of the moon in
front of Antares, a bright red star.
• The moon passed in front of Antares on April 27, hiding it for roughly 40 minutes.
• IIA stated that this event was visible only from southern India.
• IIA filmed the event from its Bengaluru campus using a camera on an 8-inch telescope.
• While moving in its orbit roughly once a month, the moon will occasionally occult, or hide, bright
stars that are behind, and sometimes, even planets.
Free hospital care under PM-JAY touches Rs 86,000 crore
• Free hospitalisation benefits worth Rs 86,000 crore have been provided to beneficiaries of the
Pradhan Mantri Jan Arogya Yojana (PM-JAY) since the scheme was rolled out in September
2018.
• More than 65 million people have so far benefited from the PMJAY scheme which offers Rs
5,00,000-a-year free health cover.
• The scheme was made available for 107 million poor households in the country, roughly covering
the bottom 40% of the population.
• The Centre launched the scheme on September 23, 2018, to alleviate the suffering of the people
due to the rising cost of healthcare.
First constitution park was inaugurated in Pune
• Constitution Park, jointly developed by the Indian Army and Punit Balan Group, was inaugurated in
Pune.
• The park was inaugurated by GOC-in-C, Southern Command, Lt Gen Ajai Kumar Singh.
• This Constitution Park is a tribute to the founding leaders of the Constitution.
• This park is a symbol of unity and commitment towards values in the Constitution of India.
Centre may push for 12% GST for health insurance; lower rate is seen to widen cover
• To make health insurance more affordable and attractive, the Centre may push for a lower GST
tax rate to 12%, compared to 18% now, on health insurance premiums up to Rs 30,000.
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• Going by the current market rates, a premium up to Rs 30,000 could buy health insurance sum
insured around Rs 10 lakh/annum for a family of four members, depending upon various factors
such as type of coverage, age of insured, and so on.
• A reduction in the tax rate could lead to a lowering of premium rates or offering additional health
cover options, depending on the requirements of people,
• After the GST rollout, a person must pay 18% GST when she buys a health insurance policy.
20 firms shortlisted under new EV subsidy scheme
• The Centre has given certification to over 20 vehicle OEMs to take part in the short-term e-mobility
promotion scheme EMPS.
• The process for granting EMPS certificates has been completed.
• The scheme is now expected to fully pick up pace and support EV adoption in the country
• The EMPS, which is valid for only four months (April–July 2024) with an outlay of Rs 500 crore,
aims to subsidise electric two-wheeler, three-wheeler, and e-rickshaw purchases by consumers.
Drone Destination signs pact with IFFCO for spraying agricultural products on 30 lakh acres of farmland
• Drone company Drone Destination has signed an agreement with cooperative major IFFCO for
spraying agricultural products on up to 30 lakh acres of farmland.
• According to company officials, under the agreement Drone Destination could get paid in the range
of Rs 400 to Rs 800 per acre at prevailing market rates, implying that the deal will fetch a revenue
of Rs 120 crore in the lower price band and up to Rs 240 at upper price band.
• The prevailing market rate of such agri spray is Rs 400-800 per acre depending upon the region
and the crop.
PM Vishwakarma: At 68%, women beneficiaries outshine men in skill training
• Under the Pradhan Mantri Vishwakarma Yojana, women surpassed men in participating in skills
training, with over 95 per cent of them choosing tailoring as their preferred trade.
• Introduced by Prime Minister Narendra Modi on September 17, 2023, the initiative has provided
training to 350,000 individuals so far.
• The states with the most beneficiaries under the programme are Karnataka (83,067), Gujarat
(56,221), Jammu and Kashmir (55,856), Andhra Pradesh (44,922), Assam (24,851), Maharashtra
(17,557), Uttar Pradesh (13,026), Madhya Pradesh (10,692), Rajasthan (7,846), and Chhattisgarh
(7,830).
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• PM Vishwakarma is implemented as a Central Sector Scheme, fully funded by the Government of

India, with an initial outlay of Rs 13,000 crore.
Renewable energy accounted for 71% of India's new power generation in FY 24
• In India during FY 23-24, renewable energy (RE) contributed more than 71 per cent of the 26 GW
(GigaWatt) of new power generated in the country.
• According to the report by CEEW Centre for Energy Finance (CEEW-CEF), India's total installed
energy capacity has now reached 442 GW, with RE comprising approximately 33 per cent (144
GW) and hydro contributing 11 per cent (47 GW).
• The share of Coal in India's total installed capacity fell below the 50 per cent mark for the first time.
Government mulls relief on retrospective GST on e-gaming
• The government is considering granting relief to the online gaming industry by exempting them
from paying the Goods and Services Tax (GST) at the rate of 28% on the full face value of bets for
the pre-October 1, 2023 period.
• This would mean that the highly contentious “retrospective levy” of the tax would be annulled,
irrespective of the outcome of the Supreme Court case in this regard.
• The retrospective tax imposition of 28% on the full face value of bets has created havoc in the
online gaming industry, in view of the sheer magnitude of the tax demands involved.
Arabian Travel Mart 2024: Ministry Of Tourism Launches ‘Cool Summers Of India’ Campaign In Dubai
• The Ministry of Tourism, Government of India is participating in Arabian Travel Mart 2024, is being
held in Dubai.
• The event marks a significant step in strengthening India's presence in the Middle East tourism
market.
• Ministry of Tourism has launched the ‘Cool Summers of India’ campaign at Arabian Travel Mart.
• This digital campaign challenges the notion of India being too hot for summer travel, emphasizing
its offerings in hill resorts, including the Himalayas.
Department of Pharmaceuticals launches Meditech Stackathon 2024 in collaboration with CII
• The Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers launched the
MEDITECH STACKATHON 2024.
• MEDITECH STACKATHON 2024 was launched in New Delhi in collaboration with the
Confederation of Indian Industry (CII).
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• Its goal is to transform the rapidly expanding MedTech industry in India by carefully examining the
value chain of certain medical products.
• India is the 4th largest market for medical devices in Asia and among the top 20 globally.
• India's MedTech industry holds immense potential, with projections estimating a growth rate of
28% annually, reaching a size of USD 50 billion by 2030.
Kutch Ajrakh, a traditional textile craft, has recently earned a Geographical Indication (GI) tag.
• The traditional artisans of ‘Kutch Ajrakh’ in Gujarat have been awarded the prestigious
Geographical Indication (GI) certificate by the Controller General of Patents, Designs, and
Trademarks (CGPDTM).
• This recognition celebrates the intricate textile craft that has been a part of Kutch's vibrant culture
for centuries.
• Ajrakh, a textile craft that has been deeply rooted in Gujarat's cultural tapestry, holds a revered
place in the regions of Sindh, Barmer, and Kutch, where its legacy spans millennia.
26th ASEAN-India Senior Officials’ Meeting Held In New Delhi
• The 26th ASEAN-India Senior Officials’ Meeting was held in New Delhi
• Shri Jaideep Mazumdar, Secretary (East), co-chaired the 26th ASEAN-India Senior Officials’
Meeting (AISOM), with H.E. Mr. Albert Chua, Permanent Secretary, Ministry of Foreign Affairs of
Singapore, in New Delhi.
• Singapore is the Country Coordinator of India for ASEAN-India Dialogue Relations.
• At the 26th AISOM, the gamut of ASEAN-India relations across the three pillars of engagement,
namely, political-security, economic and socio-cultural, as reflected in the ASEAN-India Plan of
Action (2021-2025), was reviewed.
India contributes $5,00,000 to U.N. Counter-Terrorism Trust Fund
• India has contributed $500,000 to the U.N. Counter-Terrorism Trust Fund, underscoring its
unwavering commitment to support multilateral efforts in the global fight against the scourge of
terrorism.
• India’s Permanent Representative to the United Nations Ambassador Ruchira Kamboj on May 7
handed over to Under Secretary General, United Nations Office of Counter-Terrorism (UNOCT)
Vladimir Voronkov the country's voluntary financial contribution of half a million dollars towards
the U.N. Counter-Terrorism Trust Fund (CTTF).
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• United Nations Counter-Terrorism Trust Fund was established in 2009 and transferred to the UN
Office of Counter- Terrorism (UNOCT) in 2017
Global biofuel alliance sets up the three-pronged work plan
• Global Biofuel Alliance (GBA) has adopted a work plan focused on assessing country
landscapes, drafting policy frameworks, and conducting biofuel workshops.
• According to the International Energy Agency (IEA), biofuels have the potential to grow by 3.5-5-
times by 2050 due to Net-Zero targets, creating a huge opportunity for India.
Indian AI platform Hanooman launches in 98 global languages
• 3AI Holding Limited and SML India, announced the launch of ‘Hanooman’, India’s homegrown
multilingual GenAI platform in 98 global languages, including 12 Indian languages, to build Gen AI
ecosystem for India by leveraging the country’s diverse linguistic and cultural heritage.
• The AI tool has been developed by generative AI business SML India in partnership with 3AI
Holding, an Abu Dhabi-based investment company.
• The 12 Indian languages that the web version and app are currently available in include Hindi,
Marathi, Gujarati, Bengali, Kannada, Odia, Punjabi, Assamese, Tamil, Telugu, Malayalam and
Sindhi.
4th Meeting of ASEAN-India Trade in Goods Agreement Joint Committee

• The 4th Joint Committee meeting for the review of AITIGA (ASEAN-India Trade in Goods
Agreement) was held in Putrajaya, Malaysia and was co-chaired by Shri Rajesh Agrawal,
Additional Secretary, Department of Commerce, India and Ms. Mastura Ahmad Mustafa, Deputy
Secretary General (Trade), Ministry of Investment, Trade & Industry, Malaysia.
• The delegates from India and all 10 ASEAN countries participated in the discussions.
• The discussions for review of AITIGA, to make it more trade-facilitative and beneficial for
businesses across the region, started in May 2023.
• The Joint Committee undertaking the review work has met four times so far.
India likely to export almost 18 million tonnes of rice in 2024-25: USDA
● India will remain a leading player in the world rice market despite restrictions, according to a recent
projection by the United States Department of Agriculture (USDA).
● It accounts for almost 18 million tonnes of rice exports in 2024-25, which is around two million
tonnes more than the previous year.
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● The global crop is primarily driven by an increase in production in India, China, Bangladesh, and
Indonesia.
● The global consumption is projected at a record 526.4 million tonnes, on the back of higher use in
India, the Philippines, Indonesia, and Bangladesh, offsetting a reduction for China.
Centre plans a unified portal for all digital public goods
● The government is planning a unified portal to list all its digital public goods (DPGs) such as
Aadhaar, Unified Payments Interface and Open Network for Digital Commerce in one place to
provide easy access to all the apps and services.
● The electronics and information technology is likely to be tasked with creating the portal and
coordinating with all the ministries and their respective departments and agencies to detail the digital
public infrastructure (DPI) created by them.
● The idea is to enable not just easy access for users but also promote ease of doing business as
multinational companies have also been seeking the services of these DPIs.
● According to estimates, the global market size of DPGs is likely to be $100 billion in the next five-six
years.
● As per EY estimates, the total cost per person for developing a DPG in countries with more than 50
million people is as low as 74 cents.
NTPC Talcher launches 'Girl Empowerment Mission' to support girls' education & development
● NTPC Talcher Thermal inaugurates its flagship corporate social responsibility (CSR) initiative, the
"Girl Empowerment Mission 2024".
● This one-month-long initiative aims to support 40 young girls from eight government schools
covering four Gram Panchayats by providing them with access to quality education, health, life skills
training, and mentorship.
14 People Given Citizenship Certificates For The First Time Under CAA
● The first set of citizenship certificates to 14 people was issued under the Citizenship (Amendment)
Act or CAA, nearly two months after the Centre notified it, initiating the process of granting Indian
nationality to persecuted non-Muslim migrants from Pakistan, Afghanistan and Bangladesh.
● Under the CAA, the qualification period for citizenship application has been reduced from 11 to 5
years for undocumented non-Muslim migrants from Pakistan, Bangladesh and Afghanistan who
came to India before December 31, 2014.
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India records highest number of Internet shutdowns globally in 2023

● India witnessed the highest number of Internet shutdowns in the world in 2023, a record it has held
for the sixth straight year.
● The Internet was snapped 116 times in the country last year, according to the Keep It On coalition, a
grouping of civil society bodies that advocates against Internet blockades.
Indian Air Force tests BHISHM portable hospital for airdrop in Agra
● BHISHM Portable Hospital tested in Agra for airdrop from aircraft by the Indian Air Force.
● This is the first time that the Indian Air Force has tested this portable hospital.
● This test was done so that the portable hospital could be deployed anywhere to deal with
emergencies.
● According to the Ministry of Information and Broadcasting, BHISHM Portable Cubes are a part of a
broader initiative called "Project BHISHM" (Bharat Health Initiative for Sahyog, Hita and Maitri).
● It is designed to treat up to 200 casualties with an emphasis on quick response and comprehensive
care.
GAIL hires LNG ship from CoolCo
● State-owned gas utility GAIL (India) Ltd has hired a liquefied natural gas (LNG) carrier from NYSE-
listed Cool Company for 14 years to augment its transportation capability to meet India's rising gas
needs.
● The time charter for the LNG carrier will commence in early 2025 and GAIL will have the option to
extend it by two additional years beyond the firm 14-year period.
● GAIL presently has four LNG carriers in its fleet and the one coming from CoolCo will be the fifth.
● Last year, GAIL hired an LNG carrier from Japanese shipping company Mitsui OSK Lines.
● This was the second MOL Group LNG carrier serving GAIL.
● The first vessel, named GAIL Bhuwan, was chartered in 2021.
● The second vessel, taken in December 2023, was named GAIL Urja.
About GAIL
● GAIL Limited Headquarters: New Delhi, Sandeep Kumar Gupta; (Chairman & MD).
Cabinet Approves Ambitious IndiaAI Mission to Strengthen the AI Innovation Ecosystem
● The Government of India launched the IndiaAI Mission with a budget outlay of Rs.10,371.92 crore, a
comprehensive national-level program to democratize and catalyze the AI innovation ecosystem in
the country and ensure the global competitiveness of India’s AI startups and researchers.
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● The IndiaAI mission will establish a comprehensive ecosystem catalyzing AI innovation through
strategic programs and partnerships across the public and private sectors.
● The Mission will be implemented by ‘IndiaAI’ Independent Business Division (IBD) under Digital India
Corporation (DIC).
Pharma PLI scheme gathers steam with investments of Rs 33,000 crore
● In less than three years since its launch, the production-linked incentive (PLI) scheme for the
pharmaceuticals sector seems to have taken off.
● The latest data by the department of pharmaceuticals (DoP) suggests that all three components of
the scheme — pharmaceuticals, bulk drugs and medical devices — have received substantial
interest from the industry.
● For instance, the pharmaceuticals category has seen investments of Rs 28,328 crore and generated
cumulative production of Rs 1.43 trillion as of April 2024.
Mobile PLI may be extended beyond 2026
● Smartphone PLI (production-linked incentive), the most successful of all 14 such schemes, may be
extended by a couple of years beyond 2025-26 when it officially ends
● The five-year PLI scheme, which started in 2020 ends in 2026, and each company has the flexibility
to choose any five consecutive years.
● While Apple has chosen the period of 2021-2026, for Samsung it’s between 2020-2025.
● Therefore, the thinking in the government is that a component scheme should replace the PLI in the
sector.
● The smartphone PLI has seen domestic production of phones rising to Rs 4.1 trillion in FY24 from
Rs 2.14 trillion in FY20, the year before the scheme was announced.
● The government launched PLI schemes for 14 sectors in 2021, such as telecommunication, white
goods, textiles, manufacturing of medical devices, speciality steel, high-efficiency solar PV modules,
automobiles, food products, advanced chemistry cell batteries, drones, and pharma.
Government likely to launch portal to unify insurance claim process
● The government is likely to launch the National Health Claim Exchange (NHCX) — a single portal to
submit and process health insurance claims across hospitals in the country — in the next two-three
months
● The platform is developed by the National Health Authority (NHA), in collaboration with the
Insurance Regulatory and Development Authority of India (Irdai), to ensure interoperability and
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faster processing of health insurance claims.

● The NHA and Irdai last year joined hands to operationalise the NHCX.
● The Irdai, through a circular in June 2023, had advised all insurers and providers to onboard the
NHCX.
India and China have agreed to cooperate in efforts to pay for imports in local currency: Maldives
● India and China have agreed to cooperate in efforts to pay for imports in their respective currencies
instead of US dollars.
● This move would save the island nation almost 50 per cent of the annual $1.5 million import bill from
the two countries.
● Maldives’ Economic Development Minister Mohamed Saeed met Indian High Commissioner Munu
Mahawar recently to discuss the matter, following which the Indian High Commissioner said New
Delhi would cooperate in arranging for the settlement of import payments in Indian rupee.
● 'Maldives issue with India helping us': Sri Lanka tourism minister on boost in Indian travellers amidst
Maldives boycott calls.
Centre to Restore Support for Some Electric Two-Wheeler Makers, Blacklist Others
● The central government is considering reinstating financial support for electric two-wheeler
manufacturers Revolt Motors, Greaves Electric Mobility, and Amo Mobility under its Electric Mobility
Promotion Scheme 2024 (EMPS 2024).
● However, it plans to exclude Hero Electric, Okinawa Autotech, and Benling India from all future
government schemes,
● An initial investigation into the violation of vehicle localization norms mandated under the Faster
Adoption & Manufacturing of Electric Vehicles in India (FAME India) scheme resulted in notices
being issued for the recovery of Rs. 469 crore in subsidies distributed to these companies for sales
made between 2020 and 2023.
Uttar Pradesh tops in transmission line addition by state utilities
● According to the Central Electricity Authority (CEA), Uttar Pradesh has emerged as the leading state
in terms of adding transmission lines by state transmission utilities in FY24.
● In FY24, the Uttar Pradesh Power Transmission Corporation Ltd (UPPTCL) outperformed other state
utilities by adding 1,460 circuit kilometers (ckm) of transmission lines rated at 220kV or higher.
● The Gujarat Energy Transmission Corporation Ltd (GETCO) followed UPPTCL with an addition of
898 ckm by the end of FY24.
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● Following Gujarat, Tamil Nadu, Andhra Pradesh, and Bihar ranked next in the addition of
transmission lines.
● The CEA, originally constituted under Section 3(1) of the repealed Electricity (Supply) Act, 1948,
now functions under Section 70 of the Electricity Act, 2003, overseeing and coordinating the
transmission infrastructure across the country.
New plant of Sun Pharma inaugurated in Bangladesh
● India has been a credible partner in the growth story of Bangladesh's pharmaceutical industry.
● A new plant of a leading Indian pharmaceutical company was recently inaugurated in Bangladesh.
● The new plant of Sun Pharma was jointly inaugurated by Salman F Rahman, Private Industry and
Investment Adviser to the Bangladesh Prime Minister, and Pranay Verma, Indian High
Commissioner to Bangladesh.
● The plant is located at the Meghna Industrial Economic Zone in the Sonargaon upazila of
Narayanganj district, near the river Meghna and adjacent to the Dhaka-Chittagong highway.
India Hosts 46th Antarctic Treaty Consultative Meeting
● India welcomes the 46th Antarctic Treaty Consultative Meeting (ATCM 46), dubbed the Antarctic
Parliament, held in Kochi from May 20-30. Organized by the National Centre for Polar and Ocean
Research
● Ministry of Earth Sciences-affiliated National Centre for Polar and Ocean Research, Goa,
orchestrates the gathering, uniting representatives from the treaty's 56 member nations.
● India’s prior hosting of ATCM was in New Delhi in 2007. The historic Antarctic Treaty, signed in 1959
by 12 nations, laid the groundwork for international cooperation in Antarctica, with membership
swelling to 56, including India, by 1983.
● Indian scientific forays into Antarctica trace back to 1981, culminating in the establishment of
Dakshin Gangotri (1983), followed by Maitri (1989) and Bharati (2012) research stations.
● The forthcoming Maitri II station, slated to commence operations by 2029, underscores India's
commitment to Antarctic research.
India Extends financial Support to Papua New Guinea After Devastating Landslide
● India pledges a swift financial aid package of $1 million to assist the victims of a catastrophic
landslide that struck the Enga province of Papua New Guinea, claiming the lives of over 2,000
people and causing widespread devastation.
● This humanitarian gesture underscores the robust ties between India and Papua New Guinea,
.
reflecting India's commitment to standing by its Pacific neighbour in times of need.

About New Guinea
● Capital: Port Moresby
● Currency: Papua New Guinean Kina
National Archives Of India Undertakes First Overseas Digitization Of Diaspora Records In Oman
● The Indian Embassy in Muscat and the National Archives of India (NAI) collaborate on a
groundbreaking project to archive historical documents of the Indian diaspora in Oman, titled "The
Oman Collection – Archival Heritage of the Indian Community in Oman."
● Running from May 19th to 27th, 2024, this project marks a significant milestone in preserving the
rich heritage of the Indian community in Oman.
● The project witnesses active involvement from 32 prominent Indian families from Gujarat, whose
roots in Oman extend back 250 years, showcasing their deep historical connection.
● The initiative receives backing from Oman's National Records and Archives Authority (NRAA),
reflecting a collaborative effort to safeguard historical records and deepen connections with the
Indian diaspora in Oman.
DoT and MHA strike down on SMS scammers
● The Department of Telecom (DoT) and the Ministry of Home Affairs (MHA) have initiated decisive
measures under the Sanchar Saathi program in response to a surge in SMS fraud.
● This comes in the wake of the detection of over 10,000 fraudulent text messages sent in the past
three months.
● The Indian Cyber Crime Coordination Centre (I4C) pinpointed the misuse of eight specific SMS
headers, leading to their immediate prohibition.
● Within the realm of telecommunications, "principal entities" refer to companies or legal bodies
that dispatch commercial SMS messages to telecom subscribers.
● The DoT's response included the blacklisting of the eight principal entities and the blocking of all
73 SMS headers and 1,522 content templates under their control.
Central Council for Research in Ayurvedic Sciences to Launches PRAGATI-2024
● The Central Council for Research in Ayurvedic Sciences (CCRAS) has launched the Pharma
Research in AyurGyan And Techno Innovation (PRAGATI-2024) initiative to foster research and
innovation in Ayurveda.
● PRAGATI-2024 aims to facilitate collaborative research between CCRAS and the Ayurveda drug
.
industry, fostering growth and innovation in the sector.
INTERNATIONAL NEWS
United Kingdom’s new ‘world first’ laws crack down on smart gadget cyber attacks
• The United Kingdom (UK) government has introduced "world first" laws requiring all internet-
connected smart devices to meet minimum security standards to protect consumers and
businesses from hacking and cyber-attacks.
• Under the new regime, manufacturers are prohibited from using weak, easily guessable default
passwords like "admin" or "12345".
• If a common password is used, users will be prompted to change it upon start-up to enhance
security.
United Nations Conference on Trade and Development Rebrands as "UN Trade and Development" to
Commemorate Its Anniversary
• The United Nations Conference on Trade and Development (UNCTAD) has been rebranded as
"UN Trade and Development" to mark its 60th anniversary.
• This rebranding reflects the organization's commitment to enhancing its impact and amplifying its
advocacy for developing countries.
• Significance of Rebranding:The rebranding initiative includes a new visual identity designed to
better reflect the organization's work and values.
About UNCTAD :
• Established : December 30, 1964
• Headquarters: Geneva, Switzerland
• Secretary General : Rebeca Grynspan
• The UNCTAD is a permanent intergovernmental organization that promotes the interests of
developing countries in world trade.
• UNCTAD’s work focuses on trade, development, finance, technology, investment, and sustainable
development.
World Trade Organization Celebrates 30 Years Since the Historic Marrakesh Agreement
• The World Trade Organization (WTO) commemorates the 30th anniversary of the Marrakesh
Agreement, a significant milestone in global trade history.
.
• The Marrakesh Agreement establishing the WTO was signed by 123 countries on 15 April 1994,
leading to the birth of the WTO on 1 January 1995.
• Impact on Global Trade:Over the past 30 years, the WTO has contributed to a significant
expansion in global trade.
• The agreement aimed to raise living standards, increase employment, and promote sustainable
development through trade.
About WTO :
• Founded: 1 January 1995
• Headquarters: Geneva, Switzerland
• Director General : Dr Ngozi Okonjo-Iweala
• Total members: 164 members (160 UN member states, the European Union, Hong Kong, Macao,
and Taiwan)
• The WTO is an intergovernmental organization that regulates and facilitates international trade.
Group of Seven Nations Agree to Phase Out Coal-Fired Power Plants by 2035
• Energy ministers from the Group of Seven (G7) wealthy countries reached a deal to shut down
their coal-fired power plants by 2035 at the latest, in a significant step towards the transition away
from fossil fuels.
• The accord will be included in the G7 energy ministers' final communique to be released at the end
of a two-day meeting in Turin.
• Significance for Climate Transition:The agreement aligns with the objectives set out by the
Conference of the Parties (COP28) United Nations climate summit, emphasizing a global transition
away from fossil fuels, especially coal, which is the most polluting among them.
Dubai Plans World's Largest Airport Terminal at Al Maktoum International
• Dubai has announced plans to build the world's largest airport terminal at Al Maktoum International
Airport, aiming to revolutionize the aviation industry and solidify Dubai's status as a major global
transportation hub.
• The ambitious project has been approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice
President, Prime Minister, and Ruler of Dubai.
Nepal's Population Growth Rate Hits 80-Year Low at 0.92% Per Annum Over Past Decade
• Nepal's population growth rate has dropped to 0.92% per annum over the past decade, the lowest
in the last 80 years.
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• The National Statistics Office (NSO) revealed this rate is less than 1% per year during the 10-year
review period.
• Population Figures:As per the NSO report, Nepal's population is approximately 29.2 million.
• Between mid-April 2011 and mid-April 2021, Nepal's population increased by 2.7 million.
About Nepal :
• President : Ram Chandra Poudel
• Prime Minister : Pushpa Kamal Dahal
• Capital : Kathmandu
• Currency : Nepalese rupee
Thailand Extends Visa Waiver Program for Indian and Taiwanese Tourists for Another 6 Months
• Thailand's cabinet approved a 6-month extension of the visa exemption program for tourists from
India and Taiwan to boost foreign tourist arrivals and support the country's economy.
• The extended visa waiver will run until November 11, 2024, after the existing program.
• Tourists from India and Taiwan can stay in Thailand without a visa for up to 30 days.
• Background and Impact of Visa Waiver: The extension follows the success of the initial waiver
introduced in November 2023.
• The Thai government under Prime Minister Srettha Thavisin aims to attract 80 million tourists by
2027.
About Thailand :
• Prime Minister : Srettha Thavisin
• Capital : Bangkok
• Currency : Thai baht
India Leads United Nation's Inaugural International Conference on Digital Public Infrastructure in New
Delhi
• The United Nations (UN) First International Conference on Digital Public Infrastructure was held
under India’s leadership to harness the technology to propel Sustainable Development Goals
(SDGs) and foster inclusivity.
• The Conference introduced India’s Digital Public Infrastructure (DPI) framework as a global
standard.
.
• The session was hosted by the Permanent Mission of India and the Ministry of Electronics and
Information Technology, in collaboration with the Indian Software Products Industry Round Table
(iSPIRT).
Ramcharitmanas, Panchatantra, and Sahṛdayāloka-Locana Added to United Nations Educational,
Scientific and Cultural Organization’s Memory of the World Asia-Pacific Regional Register
● The Ramcharitmanas, Sahrdayaloka-Locana, and Panchatantra have been included in the
United Nations Educational, Scientific and Cultural Organization’s (UNESCO) Memory of the
World Asia-Pacific Regional Register, marking a significant achievement for India.
● UNESCO has recognised a total of 20 items from the Asia Pacific region in its Memory of the
World Regional Register for the 2024 cycle.
● These included three each from China and Indonesia, and two each from Malaysia, Mongolia,
the Philippines, and Uzbekistan.
● The decision on the same was taken on May 7-8 in the 10th General Meeting of the Memory of
the World Committee for Asia and the Pacific (MOWCAP) in Ulaanbaatar, the capital of
Mongolia.
● Authors and Works:
➢ Ramcharitmanas: Written by Goswami Tulsidas in the 16th century, a retelling of the
Ramayana in the Awadhi dialect.
➢ Panchatantra: Attributed to Pt. Vishnu Sharma, penned around the 3rd century BCE,
known for its 'story within a story' structure.
➢ Sahrdayaloka-Locana: Written by Acharya Anandvardhan, commented upon by
philosopher Abhinava Gupta, focusing on Indian poetics and aesthetic appreciation.
● Role of IGNCA:
➢ The Indira Gandhi National Centre for the Arts (IGNCA) played a crucial role in securing
the inclusion of these works during the 10th MOWCAP meeting.
● MOWCAP Overview:
➢ In the Asia Pacific region, a specific branch called the Memory of the World Committee for
Asia and the Pacific (MOWCAP) was established in 1998.
➢ MOWCAP covers 43 countries, representing one of UNESCO's five regional programs.
➢ There are 494 inscriptions on the International MoW Register, as of May 2023, according
to the UNESCO website. MOWCAP Regional Register has inscribed 65 items from Asia-
.
Pacific countries.
About UNESCO :
● Formation : 16 November 1945
● Headquarters : Paris, France
● Director General : Audrey Azoulay
● Members : 194 member states and 12 associate members
● UNESCO is a specialized agency of the United Nations (UN) with the aim of promoting world
peace and security through international cooperation in education, arts, sciences and culture.
Venezuela Becomes 1st Country to Lose All Glaciers as Last One Downgraded to 'Ice Field'
● In a grim milestone, Venezuela has become the 1st country in modern history to lose all of its
glaciers after the Latin American country lost its last remaining glacier on the Pico Humboldt peak
which was downgraded by climate scientists as an ice field.
● New research shows that the Humboldt glacier in the Andes, which used to be very big, has
shrunk to less than 2 hectares, which means it is no longer a glacier but an ice field.
● Venezuela had been home to six glaciers in the Sierra Nevada de Mérida mountain range, which
lies at about 5,000m above sea level, but lost five of them by 2011.
About Venezuela :
● President : Nicolás Maduro
● Capital: Caracas
● Currency: Venezuelan bolívar.
● Venezuela is a country on the northern coast of South America with diverse natural attractions.
United Arab Emirates Cabinet Approves 10-Year Blue Visa for Exceptional Environmental Contributions
● The United Arab Emirates (UAE) Cabinet has approved a 10-year Blue Residence visa for
individuals who have made outstanding contributions to environmental protection, reflecting the
country's commitment to sustainability.
● The introduction of the Blue Visa is in line with the UAE's year of sustainability (2023–2024) and
its long-term objectives of promoting environmental protection and sustainable practices.
● Eligibility Criteria:The 10-year visa is specifically designed for individuals who have demonstrated
exceptional contributions and efforts towards environmental protection.
About UAE :
● President : Mohamed bin Zayed Al Nahyan
.
● Prime Minister : Mohammed bin Rashid Al Maktoum

● Capital : Abu Dhabi
● Currency : UAE dirham
South African Government Urges Faster Visa Issuance for Indian Tourists
● The South African government is developing mechanisms for the speedy clearance of visa
applications from India and is working on a proposal to introduce E-Visas for Indian tourists.
● In the first quarter of 2024, 16,000 Indian visitors travelled to South Africa.
● The initiative was announced during an event organised by South Africa Tourism.
● Presidential Directive: South African President Cyril Ramaphosa has requested a joint report
from the Ministers of Tourism, Home Affairs, and State Security on measures to expedite visa
clearance.
● Visa Waiver Proposal: The Tourism Ministry has proposed a 90-day visa waiver for passengers
from both China and India.
About South Africa :
● President : Cyril Ramaphosa
● Capital : Pretoria (executive), Cape Town (legislative), Bloemfontein (judicial)
● Currency : South African rand
World Health Organization Prequalifies Second Dengue Vaccine by Japanese Drugmaker Takeda
Pharmaceuticals
● The World Health Organization (WHO) has prequalified the second dengue vaccine developed
by Japanese drugmaker Takeda Pharmaceuticals.
● This live-attenuated vaccine, known as TAK-003, contains weakened versions of four serotypes
of the virus that cause dengue.
● This means that TAK-003 contains weakened forms of four types of dengue virus, which helps
the body build immunity without causing disease.
● TAK-003 can be given to children aged 6 to 16 years who have more chances of dengue and
intensity of transmission.
● According to WHO, the vaccine should be administered in a 2-dose schedule with an interval of 3
months between doses.
● Prior to TAK-003, WHO had prequalified the CYD-TDV vaccine developed by Sanofi Pasteur for
dengue.
.
Dengue Disease Overview :

● Dengue is a mosquito-borne disease that is life-threatening in many cases.
● It is spread by the bite of an infected mosquito.
● Approximately 3.8 billion people live in dengue-endemic regions, primarily in Asia, Africa, and the
Americas.
● Globally, there are between 100 and 400 million dengue cases reported annually.
About WHO :
● Parent Organisation : United Nations Economic and Social Council
● The WHO is a specialized agency of the United Nations responsible for international public
health.
Ibu Volcano Erupts on Indonesia's Remote Halmahera Island
● The Ibu volcano on Indonesia's remote island of Halmahera erupted.
● Hundreds of people living near an erupting volcano in eastern Indonesia have been evacuated
after authorities raised the alert level to the highest level.
● The Ibu volcano spews ash and smoke up to 5,000 meters (16,400 feet) into the sky.
About Indonesia :
● Currency : Indonesian rupiah
4th Meeting of ASEAN-India Trade in Goods Agreement Joint Committee Held in Putrajaya, Malaysia
● The 4th Joint Committee meeting for the review of AITIGA (ASEAN-India Trade in Goods
Agreement) was held in Putrajaya, Malaysia from 7-9 May 2024 .
● The Committee finalised its Terms of Reference and the Negotiating Structure for the review
negotiations in its first two meetings and initiated the negotiations for review of AITIGA from its
third meeting held from 18-19 February 2024 in New Delhi.
● The delegates from India and all 10 ASEAN countries participated in the discussions.
● Four of these Sub-Committees dealing with ‘National Treatment and Market Access’, ‘Rules of
Origin’, ‘Standards, Technical Regulations and Conformity Assessment Procedures’ and ‘Legal
.
and Institutional Issues’ also met physically in Putrajaya, Malaysia alongside the 4th AITIGA Joint
Committee.
● ASEAN is one of the major trade partners of India with a share of 11% in India’s global trade.
● Both sides would next meet for the 5th Joint Committee meeting from 29-31 July 2024 in Jakarta,
Indonesia.
● The 3rd meeting of AITIGA Joint Committee for undertaking the review of ASEAN-India Trade in
Goods Agreement (AITIGA) was hosted by India in Vanijya Bhawan, New Delhi from 16-19
February 2024.
About ASEAN:
● Association of Southeast Asian Nations (ASEAN) is a political and economic union of 10 states in
Southeast Asia.
● Member countries: Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia,
Philippines, Singapore, Thailand, and Vietnam.
Spain Becomes 99th Member Of International Solar Alliance
● Spain has become the 99th member of the International Solar Alliance.
● Spain handed over the International Solar Alliance Instrument of Ratification, during the meeting
of Ambassador José María Ridao Domínguez of Spain with the Head of Depository, Joint
Secretary in the External Affairs Ministry Abhishek Singh in New Delhi.
● India and France jointly launched the International Solar Alliance (ISA) during COP21 in Paris.
About ISA
● The ISA was conceived as a joint effort by India and France to mobilize efforts against climate
change through the deployment of solar energy solutions.
● 119 countries have till date signed the ISA Framework Agreement.
● 99 countries have ratified and submitted the necessary International Solar Alliance Instrument of
Ratification to become a full member.
● Headquarters of ISA: Gurugram, Haryana.
About Spain :
● Prime Minister: Pedro Sánchez
● Capital : Madrid
● Currency : Euro
Severe cyclone Remal to hit Bangladesh and adjoining West Bengal coasts between Sagar Island and
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Khepupara
● The season's first severe cyclonic storm in the Bay of Bengal, 'Remal,' reached Bangladesh and
adjoining the West Bengal coasts.
● According to the IMD, the cyclone has reached a wind speed of 102 kilometres per hour.
● The Met office has warned of very heavy rainfall in the coastal districts of West Bengal, north
Odisha, Mizoram, Tripura, and south Manipur on May 26-27.
● This is the first cyclone in the Bay of Bengal this pre-monsoon season and will be named Remal,
according to a system of naming cyclones in the Indian Ocean region.
● This name is given by Oman
● A panel of the regional committee approved the list of names of cyclones formed in the Bay of
Bengal and the Arabian Sea.
● Its name is WMO/ESCAP Panel on Tropical Cyclones.
● The 2018 RMSC lists new cyclone names.
● At this time, 13 countries gave 13 names each.
Russia to Construct Central Asia's First Nuclear Power Plant in Uzbekistan
● Russia will build the first nuclear power plant in post-Soviet Central Asia, specifically in
Uzbekistan.
● The announcement was made by Uzbek President Shavkat Mirziyoyev during a meeting with
Russian President Vladimir Putin.
● Russia will contribute $400 million to a joint investment fund totaling $500 million to finance
projects in Uzbekistan.
● None of the five ex-Soviet Central Asian republics (Kazakhstan, Kyrgyzstan, Tajikistan,
Turkmenistan, Uzbekistan) currently have nuclear power plants.
● Both Uzbekistan and Kazakhstan are uranium producers and have expressed the need for
nuclear power to support their growing economies.
About Russia :
About Uzbekistan :
.
● President : Shavkat Mirziyoyev

● Prime Minister : Abdulla Aripov
● Capital : Tashkent
● Currency : Uzbek som
STATE NEWS
Uttarakhand authority informs apex court about suspension of licenses for 14 Patanjali products
• The Uttarakhand State Licensing Authority (SLA) for Ayurvedic and Unani Services informed the
Supreme Court that it had "suspended with immediate effect" the manufacturing licenses for 14
products of Patanjali Ayurved Limited and Divya Pharmacy due to repeated violations under the
Drugs and Cosmetic Rules, 1945.
List of 14 Suspended Products:
1. 'Swasari Gold'
2. 'Swasari Vati'
3. 'Bronchom'
4. 'Swasari Pravahi'
5. 'Swasari Avaleh'
6. 'Mukta Vati Extra Power'
7. 'Lipidom'
8. 'Bp Grit'
9. 'Madhugrit'
10. 'Madhunashini Vati Extra Power'
11. 'Livamrit Advance'
12. 'Livogrit'
13. 'Eyegrit Gold'
14. 'Patanjali Drishti Eye Drop'.
About Uttarakhand:
.
• National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji
Ambaji Marble from Gujarat Receives Geographical Indication (GI) Tag from Central Government
● Marble mined in Gujarat's Ambaji has been awarded the Geographical Indication (GI) tag by the
Central Government.
● Ambaji Marble is renowned for its stunning white appearance and unique natural patterns.
● Mined since the early medieval period from Ambaji in Gujarat’s Banaskantha district, it is one of
the most popular marbles in India.
● It’s to be noted that Ambaji is famous for its white marble as it has the maximum whiteness in the
range of 95.80 - 96.30 percent.
About Marble :
● Marble is a metamorphic rock formed from limestone under the heat and pressure of
metamorphism.
● Primarily composed of the mineral calcite (CaCO3) and may contain other minerals like clay
minerals, micas, quartz, pyrite, iron oxides, and graphite.
About GI Tag :
● A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
territory.
● A GI is a label that is applied to products that have a specific geographical origin and that have
● The tag is valid for a period of 10 years after which it is renewed.
About Gujarat :
● Governor: Acharya Devvrat
● Chief minister: Bhupendrabhai Patel
● Capital: Gandhinagar
● National Park : Vansda National Park, Gir National Park, Marine National Park, Velavadar
National Park
● Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary,
Shoolpaneshwar Wildlife Sanctuary
Uttarakhand Initiates ‘Pirul Lao-Paise Pao’ Scheme to Tackle Forest Fires
.
● The Uttarakhand government has launched the ‘Pirul Lao-Paise Pao’ campaign to address the
issue of forest fires.
● Chief Minister Pushkar Singh Dhami inaugurated the campaign in Rudraprayag district.
● The campaign encourages active participation from cooperatives, Yuva Mangal Dal, and Van
Panchayat.
● Oversight and Funding : The Uttarakhand Pollution Control Board oversees the campaign,
operating Pirul collection centers, and processing the collected material.
● The state government has allocated Rs 50 crore for the campaign, funding the payments to Pirul
collectors.
● Forest Area Statistics : According to the Indian State of the Forest Report 2021, Uttarakhand's
total recorded forest area is 24,305 square kilometres, covering 45.44% of the state’s
geographical area.
● Pine Tree Abundance : Pine trees, introduced by the British, are abundant in Uttarakhand
districts such as Almora, Bageshwar, Chamoli, Champawat, Dehradun, Garhwal, Nainital,
Pithoragarh, Rudraprayag, Tehri, and Uttarkashi.
About Uttarakhand:
● Capital: Dehradun
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji
Telangana Government to Unveil State Emblem on June 2
● Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao opposed the Telangana
government's decision to exclude images of Charminar and Kakatiya Arch from the new state
emblem to be launched on June 2nd, the State formation day.
● The Congress government in Telangana plans to unveil a new state emblem on June 2nd,
arguing that the present emblem featuring Kakatiya Arch and Charminar reflects feudalism and
autocratic rule.
● The new emblem, designed by artist Rudra Rajesham, will reportedly include symbols of tribal
goddesses Sammakka and Sarakka, and the Nagoba festival of the tribals.
About Telangana:
.
● Capital: Hyderabad
● Governor: C.P. Radhakrishnan
● Chief minister: Revanth Reddy
● National Park : Mrugavani National Park, KBR National Park, Nehru Zoological Park
● Wildlife Sanctuary : Kinnerasani Wildlife Sanctuary, Eturnagaram Wildlife Sanctuary.
BUSINESS NEWS
NTPC Group installed capacity crosses 76GW mark; begins operation of 57-MW Rajasthan solar
project
• State-owned power giant NTPC Group's installed power generation capacity has crossed the 76
GW mark with the commissioning of a 57-MW solar power energy capacity in Rajasthan.
• Consequent upon successful commissioning and due approvals, the first part capacity of 57 MW
out of 90 MW Anta Solar PV Project at Anta, Rajasthan, is declared on commercial operation with
effect from April 26, 2024.
• The total installed and commercial capacity of NTPC on a standalone and group basis has reached
59,135 MW and 76,015 MW, respectively.
Kundan Green Energy gets approval for a 42 MW hydropower plant
• Kundan Green Energy has received approval for a 42 MW hydropower project in Okhali,
Uttarakhand.
• This project is part of an agreement with the Uttarakhand government to develop a total of 80 MW
greenfield hydropower capacity in the state, with an investment of ₹1,000 Crore.
• The project is scheduled for completion by 2028 and will increase the company's combined
hydropower capacity to 270 MW from the current 104 MW.
• Kundan Green Energy, a subsidiary of Kundan Group, is dedicated to advancing sustainable
energy solutions for India's energy security and transition to a greener future.
National Stock Exchange to Divest Digital Tech Business to Bahrain's Investcorp for Rs 1,000 Crore to
Focus on Core Operations
• The National Stock Exchange (NSE) announced its plan to sell its digital technology services
business NSEIT to Bahrain's Investcorp for Rs. 1,000 crores.
.
• NSEIT has clocked a compounded annual growth rate of over 50% in the US over the last 4 years
by increasing the number of clients across the financial services sector and will focus on significant
expansion in the country.
• Avendus Capital acted as the exclusive financial advisor to the NSE and NSEIT while Ernst &
Young LLP served as the financial and tax advisor to Investcorp.
About NSE :
• Founded : 1992
• MD and CEO : Ashishkumar Chauhan.
Digital crop survey on cards to fine-tune farm statistics
• India plans to bolster its farm statistics system by undertaking regular digital crop surveys, backed
by advanced analytics and artificial intelligence (AI), throughout the country to assess the precise
acreage.
• The move is expected to help the government firm up more realistic farm production forecasts,
which will enable it to initiate appropriate trade policy measures on time, inaccurate data frequently
prompts impulsive government responses aimed at curbing inflation and may result in trade
disruptions.
India's fossil fuel capacity grows 2.44% in FY24; non-fossil-fuel rises 11%
• India’s fossil fuel-based power generation capacity has increased by 2.44% to 243.22 GW in FY24
from 237.27 GW in March 2023.
• Non-fossil fuel-based capacity has increased by 10.79%.
• It has increased from 172.01 GW in 2022-23 to 190.57 gigawatt (GW) in 2023-24.
• The nuclear power capacity has risen to 8.18 GW from 6.78 GW in the last fiscal year.
• India's total power generation capacity increased by 6.22% to 441.97 GW over 416.06 GW.
Mineral Production in the Country Grows by 8 per cent in February, Compared to Last Year
• The index of mineral production of the mining and quarrying sector for February, 2024 (Base:
2011-12=100) at 139.6 is 8.0% higher as compared to the level in February, 2023.
• As per the provisional statistics of the Indian Bureau of Mines (IBM), the cumulative growth for the
period April-February, 2023-24 over the corresponding period of previous year is 8.2%.
Adani Green Secures USD 400 Million From International Banks For 750 MW Power Projects
.
• Adani Green Energy Ltd (AGEL), India’s largest and one of the world’s leading renewable energy
(RE) companies, announced USD 400 million in financing for its under-construction 750 MW solar
projects in Rajasthan and Gujarat by a consortium of five leading international banks.
• It will provide financing for projects that are expected to come online from November 2024
onwards.
Avaada Energy secures Rs 1,190 crore loan from SBI for solar project
• Avaada Energy has secured Rs 1,190 crore loan for a new solar project in Gujarat from the State
Bank of India.
• The financing, sanctioned and disbursed as a 20-year project loan facility, will support the
development of a 400 MWp utility-scale solar PV power project in the Surendra Nagar district of
Gujarat
• Power generated from the project will be procured by Gujarat Urja Vikas Nigam Limited (GUVNL),
an apex body of the government of Gujarat, engaged in the bulk purchase and sale of electricity.
BSNL should temporarily use Vodafone Idea’s 4G network for its subscribers
• BSNL Employees Union, wrote to the Minister of Communication, suggesting that the public sector
telco must be allowed to use Vodafone Idea’s 4G network temporarily to provide its own 4G
services.
• These statements come after BSNL’s 4G network rollout with Tata Consultancy Services as the
network vendor became inordinately delayed.
• BSNL lost 18 million subscribers in the financial year 2024 ending in March, where 2.3 million
subscribers left in March alone.
• The employees asked the government to consider allowing BSNL to use Vodafone Idea’s 4G
network, especially as it is the largest shareholder in the operator.
Mahindra, Tata Motors receive record patent approvals in FY24
• Domestic automobile majors Mahindra & Mahindra and Tata Motors have received a record
number of patent approvals for a wide spectrum of product and process innovations in the last
financial year.
• Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata
Motors also witnessed the grant of 333 patents during the 2023-24 financial year.
• The auto major has so far been conferred 1,185 patents across multiple geographies.
Bharat Sanchar Nigam Limited 's 4G Subscriber Base Reaches 800,000 in North India
.
• Bharat Sanchar Nigam Limited (BSNL), a state-owned telecom service provider, has achieved a
4G subscriber base of 800,000 in its initial launch phase across North Indian regions, including
Punjab, Haryana, Himachal Pradesh, Uttarakhand, and western Uttar Pradesh.
• BSNL's 4G deployment is based on an indigenous network developed in collaboration with Tata
Consultancy Services (TCS) and the government’s Centre for Development of Telematics (C-
DOT).
About BSNL :
• Headquarters : New Delhi, Delhi, India.
• BSNL is a prominent telecommunications company based in India, owned by the Government of
India.
• It operates as a central public sector undertaking.
• BSNL falls under the jurisdiction of the Department of Telecommunications, which is part of the
Ministry of Communications, Government of India.
BHEL Partners with HIMA West Asia FZE, Dubai, for Railway Signalling Business
• State-owned engineering firm Bharat Heavy Electricals (BHEL) has entered into a strategic
partnership agreement with HIMA West Asia FZE, Dubai (A wholly owned subsidiary of HIMA Paul
Hildebrandt GmbH, Germany) for railway signalling business.
• HIMA West Asia FZE, Dubai, is a wholly owned subsidiary of HIMA Paul Hildebrandt GmbH,
Germany.
• HIMA specializes in safety-related automation solutions for railways and process industries.
About BHEL :
• Founded : 1956
• Headquarters: New Delhi
• Chairman & Managing Director : Koppu Sadashiv Murthy
• The Government of India owns 63.17% of BHEL.
• BHEL is an Indian central public sector undertaking and the largest government-owned power
generation equipment manufacturer.
Fertilizer subsidy in FY24 exceeds Revised Estimates by over ₹6,500 crore
• The fertilizer subsidy in Fiscal Year 2023-24 (FY24) has exceeded Revised Estimates (RE) by
over ₹6,500 crore, the latest government data show.
.
• However, this is unlikely to impact the revised estimate of fiscal deficit.

• One possible reason for increase in subsidy is rise in input cost and operations cost mainly on
account of increase in natural gas prices.
• Data, as analysed by Businessine, showed subsidy on urea went up to over ₹1.30-lakh crore as
against RE of ₹1.29-lakh crore.
• However, it is still lower than the Budget Estimate of over ₹1.35-lakh crore.
GST collection breaches Rs 2 lakh crore milestone in April 2024
• The goods and services tax (GST) collections reached a record-breaking high of Rs 2.10 lakh
crore in April 2024, marking a 12.4% increase from the previous year.
• This unprecedented revenue reflects the country's strong economic momentum and showcases
the efficiency of its tax collection mechanisms.
• The detailed components of the GST revenue include Rs 43,846 crore collected through the
Central GST, Rs 53,538 crore through the State GST, and Rs 99,623 crore through the
Integrated GST, with Rs 37,826 crore coming from levies on imported goods.
FPSB India, IFSCA sign pact to promote GIFT IFSC as 'Global Finance Hub'
• Financial Planning Standards Board India has announced that it has signed a pact with the
International Financial Services Centres Authority (IFSCA), GIFT City, Gandhinagar, to promote
GIFT IFSC as a 'Global Finance Hub'.
• FPSB India and IFSCA aim to enhance the financial market ecosystem and nurture skilled
professionals for GIFT City's expanding financial workforce.
• Both organisations will jointly organise international and domestic events to raise awareness and
establish GIFT IFSC as a 'Global Finance Hub’
India sees incorporation of 185,000 companies in 2023-24
• More than 185,000 companies were registered in the country last fiscal, higher than the count
recorded in the year-ago period, and nearly 16,600 companies were set up in March this
year(2024).
• As per the data, 159,524 companies were registered with a collective paid-up capital of Rs
18,132.16 crore in 2022-23.
• At the end of March 2024, the country had a total number of 2,663,016 companies and out of them,
1,691,495 companies or 64 per cent were active.
.
• As many as 931,644 registered companies were closed, 2,470 were dormant entities, and 10,385
were under liquidation.
Investments through P-note surge to near 6-yr high at Rs 1.5 trillion
• Investments through participatory notes in the Indian capital markets reached Rs 1.5 lakh crore at
the end of February 2024, making it the highest level in nearly six years, driven by a strong
performance of the domestic economy.
• The latest data includes the value of P-note investments in Indian equity, debt, and hybrid
securities.
• Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas
investors who wish to be part of the Indian stock market without registering themselves directly.
TVS Capital's biggest fund yet could bet on ‘zero-stage’ startups
• TVS Capital has raised ₹1,700 crore in domestic money for its largest fund yet, its fourth, in a sign
of growing interest among Indian investors for private equity as an asset class.
• The fourth fund will have a total corpus of ₹3,000 crore, surpassing the size of TVS Capital’s
₹1,600-crore third fund.
• The fund is expected to focus on financial services firms and B2B startups.
• TVS Capital has previously invested in fintech startups including Digit Insurance, Five Star
Business Finance, and PhonePe.
• The firm plans to announce the first close of the fund next month.
Infosys Receives ISO 42001:2023 Certification for Artificial Intelligence Management System
• Infosys announced that it has been certified with ISO 42001:2023, the world’s first international
standard on AI management systems, by TUV India (part of TUV Nord Group), a leading
independent provider of technical quality and safety services.
• Infosys is among the first IT services companies globally to have earned the certification for
implementing an Artificial Intelligence Management System (AIMS) framework that fosters
responsible AI practices and adherence to regulatory requirements for enhanced efficiency and
accountability in AI initiatives.
• This AIMS framework is a part of Infosys Topaz Responsible AI Suite, a set of 10+ offerings built
around the Scan, Shield, and Steer framework.
About Infosys
.
• Infosys Limited is an Indian multinational information technology company that provides business
consulting, information technology and outsourcing services. The company was founded in Pune
and is headquartered in Bangalore.
• CEO: Salil Parekh .
Amazon unveils first electric seaport trucks amid push to slash tailpipe emissions
• Amazon.com unveiled the first of a dozen Volvo electric big rigs it plans to deploy this year(2024)
to pick up cargo from the nation's busiest container seaport in southern California.
• The e-commerce giant said it already has eight of those semi trucks in use at the Los
Angeles/Long Beach port complex, where every so-called drayage truck must be zero-emissions
by 2035.
• The effort is vital to the company's push to reach net-zero carbon emissions by 2040.
Bajaj to launch the world’s first CNG motorcycle on June 18, 2024
• Bajaj Auto is gearing up for the much-anticipated launch of its CNG-powered motorcycle on June
18, 2024.
• Rajiv Bajaj, Managing Director of Bajaj Auto, confirmed the imminent arrival of the motorcycle
during the launch event of the Pulsar NS400Z.
• With this upcoming model, Bajaj will be aiming to cater to cost-conscious customers amidst rising
fuel prices by introducing a portfolio of CNG-powered motorcycles - the first of which will be
debuting next month.
India's retail inflation eases marginally to an 11-month low of 4.83 per cent in April 2024
● India's retail inflation eased marginally to hit an 11-month low of 4.83 per cent on an annual basis in
April 2024 as against 4.85 per cent in the previous month (March 2024).
● A Reuters poll of 44 economists had estimated the number to come down to 4.80 per cent.
● The number has remained within the Reserve Bank of India's (RBI) tolerance band of 2-6 per cent.
● The Consumer Price Index (CPI)-based retail inflation was 4.85 per cent in March.
● It was 4.7 per cent in April 2023.
Pfizer, AstraZeneca to invest nearly $1 bn in France
● Pfizer and AstraZeneca announced new investments in France worth a total of nearly $1 billion,
ahead of the start of this year(2024)’s annual ‘Choose France’ business summit.
● Pfizer would invest 500 million euros ($538.5 million) in France to build up its research and
development work in the country, while AstraZeneca announced an investment of $388 million for its
.
site at Dunkirk.
● Their investment pledges came as President Emmanuel Macron prepared to kick off the annual
‘Choose France’ event aimed at wooing big overseas businesses and investors.
NFO launches set to hit a new record this year(2024)
● Mutual fund houses launched 10-12 equity new fund offers (NFOs) every month in the last three
years.
● That the flood shows no signs of subsiding is evident from the number in 2024.
● Already, 67 new schemes have been launched so far this year(2024), indicating an increase in
momentum.
● Almost half of these schemes are actively managed.
● For the first time in three decades, that is, ever since the private sector mutual funds started
operations in November 1993, the number of equity and hybrid NFOs crossed the 100-mark every
year between 2021 and 2023, according to data from Value Research.
Hindujas get IRDAI approval for RCap deal
● The Hinduja Group has received the insurance regulator’s approval to conclude the acquisition of
Reliance Capital’s (RCap) three insurance companies, a move that will help it complete the
resolution process of the debt-laden firm by the May 27 deadline.
● However, IndusInd International Holdings (IIHL), a group firm through which the Hinduja Group had
placed bids for RCap, now requires regulatory approvals for a proposed change in holding structure.
Sources said these approvals are expected “anytime now”.
● IRDAI has permitted transfer of RCap’s 26% stake in the insurance firms to Aasia Enterprises, a
private family firm with 90% stake held by Ashok P Hinduja (Hinduja Group chairman), 5% each by
Harsha A Hinduja (Hinduja Foundation trustee) and Shom A Hinduja (president, alternative energy
and sustainability at Hinduja Group).
Nayara Energy to set up two ethanol plants for ₹600 crore
● Russian energy giant Rosneft-backed Nayara Energy is planning to invest ₹600 crore to set up two
ethanol manufacturing plants in the country.
● Each plant will have a production capacity of 200 kilolitres of ethanol per day.
● These will be set up in Andhra Pradesh's Naidupeta and Madhya Pradesh's Balaghat, and are slated
for commissioning by 2026.
● The company will use broken rice and maize for feedstock.
.
● In the long run, the company plans to have five ethanol manufacturing plants.
● Nayara Energy, which runs a 20-million-metric-tonne capacity oil refinery at Vadinar in Gujarat, is set
to open a polypropylene unit in the same facility.
● The company is investing ₹6,000 crore to set up a petrochemical unit with an annual capacity of
450,000 tonnes.
● These investments will be made till 2026.
India's imports from FTA partners up 38% during 2019-24 fiscal years: GTRI
● India's imports of goods from countries with which it has a free trade agreement like the UAE, South
Korea, and Australia grew about 38 per cent during the 2019-24 fiscal year to $187.92 billion.
● From FY'2019 to FY'2024, India's imports increased by 37.97 per cent, from $ 136.20 billion to $
187.92 billion.
● On the other hand, the country's exports to the FTA (free trade agreement) partners rose 14.48 per
cent to $ 122.72 billion in 2023-24 from $ 107.20 billion in 2018-19.
● According to the data, India's exports to the UAE increased by 18.25 per cent to $ 35.63 billion in
2023-24 as against $ 30.13 billion in 2018-19, while imports surged 61.21 per cent, from $ 29.79
billion in FY2019 to $ 48.02 billion in the last fiscal.
● The FTA between India and the UAE came into effect in May 2022.
● Overall, India ranked 17th globally in exports, with a 1.8 per cent share in world trade.
ReNew inks initial pact with Societe Generale for $1 billion debt financing
● Energy firm ReNew announced that it has signed an initial pact with European bank Societe
Generale for up to $1 billion in financing as debt and advisory solutions over the next three years.
● ReNew has signed a Memorandum of Understanding (MoU) with Societe Generale, to support the
financing and development of the company's various strategic energy transition projects both in India
and globally.
● Both parties will leverage their respective expertise to strengthen the collaboration on utility-scale
energy projects including solar, wind, complex renewables, green hydrogen, energy storage and
solar modules manufacturing.
● ReNew has a clean energy portfolio of 15.6 GW on a gross basis as of May 9, 2024.
TVS Motor launches electric two-wheeler iQube in Bengaluru
● TVS Motor Company unveiled its new variant of the electric two-wheeler, TVS iQube with a 2.2 kWh
battery in Bengaluru.
.
● The company also said it is ready to deliver TVS iQube ST to customers in the city.
● According to Saurab Kapoor, vice-president of TVS Motor Company, the new variant launched in
Bengaluru comes with a 950 Watt charger.
● The fastest charging time is two hours and its top speed is 75 km per hour.
● In one charge it can go up to at least 100 km.
● This is the introductory price inclusive of EMPS subsidy and cashback, which is valid up to June 30,
2024.
TVS Motor Company begins operations in Italy
● TVS Motor Company (TVSM) unveiled operations in Italy via its branch office TVS Motor Italia
headed by Giovanni Notarbartolo di Furnari.
● The company will introduce a selection of its advanced, high-quality thermic and electric scooters
and motorcycles, the leading two and three wheeler manufacturer.
● TVS Motor Company is extending its operations in Italy through its branch office, TVS Motor Italia,
headed by Giovanni Notarbartolo di Furnari.
● TVS says Furnari brings comprehensive experience from senior managerial roles in major
automotive companies in Italy, Latin America, the UAE, and Europe.
Infosys Prize gets age limit, now only for researchers up to 40 years old
● The Infosys Science Foundation (ISF) announced changes to the Infosys Prize, shifting it to an
early-career focus.
● Economics is now a separate category, the upper age limit is set at 40, and laureates abroad are
encouraged to spend at least 30 days in India.
● As part of the new structure, ISF has lowered the prize winner age limit to 40 from 50 to spur
"transformative impact" and encourage early-career contributions.
● From 2024, the six categories are: Economics, Engineering & Computer Science, Humanities &
Social Sciences, Life Sciences, Mathematical Sciences, and Physical Sciences.
● Since its inception 15 years ago, ISF has recognised and awarded 92 brilliant minds across
disciplines in a demanding global environment.
● The awards will be announced in November followed by a ceremony that is slated to take place in
January 2025.
● N.R. Narayana Murthy, co-founder of Infosys. Kris Gopalakrishnan, president of I
Thomas Cook India launched TCPay, shares rise 2.26%
.
● Thomas Cook (India) Limited’s shares were up by 2.26 per cent after the company launched TCPay,
it is a service aimed at simplifying international money transfers.
● TCPay aims to change this by offering a digital interface that allows for paperless transactions.
● The service is further enhanced by Thomas Cook’s recently launched Video KYC process, which
enables customers to transfer funds conveniently from their homes.
● Thomas Cook reported that TCPay offers advantages, including 24x7 access, transfers, and a digital
interface accessible through Thomas Cook’s digital tools such as FXNOW (B2C app), Portal, and
Call Center for assistance.
IREDA incorporates a subsidiary in GIFT City, Gujarat
● The Indian Renewable Energy Development Agency Ltd (IREDA) has incorporated a wholly-owned
subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.
● The subsidiary, “IREDA Global Green Energy Finance IFSC Limited,” was officially incorporated on
May 7, after receiving the No Objection letter from the Reserve Bank of India on February 8.
HP rebrands consumer, commercial PC portfolios, launches new AI logo
● Global personal computer (PC) manufacturer HP has announced the rebranding of its consumer
and commercial PC portfolios to simplify and streamline its product offerings.
● The company has also introduced a new logo for its artificial intelligence (AI) computers.
● Henceforth, HP’s consumer PCs will come with a prefix of ‘Omni’, while its commercial PCs will
be named ‘Elite’, followed by signifiers representing their respective product categories.
● HP has also unveiled a new Helix logo, which it said resembles the structure of deoxyribonucleic
acid to show its commitment to advanced AI capabilities in next-gen AI PCs.
About HP
● HP Inc. is an American multinational information technology company headquartered in Palo
Alto, California, that develops personal computers, printers and related supplies, as well as 3D
printing services.
Market cap of BSE-listed companies hits $5 trillion first time ever
● The market capitalisation of companies listed on BSE crossed $5 trillion for the first time, turning
the spotlight on valuations.
● This makes India the fifth country/region to join the exclusive $5-trillion m-cap club, alongside the
US, China, Japan and Hong Kong.
● The Indian stock market is ranked at the fifth spot in terms of market cap in the world.
.
● United States of America is in first place with a m-cap of $55 trillion.

● China is in second place with a m-cap of $9.4 trillion, Japan is in third place with $6.4 trillion and
Hong Kong's stock market is in fourth place with a m-cap of $5.4 trillion.
About BSE
● Bombay Stock Exchange (BSE) is the oldest and largest stock exchange in India.
● In 1875, eminent businessman Premchand Roychand officially founded the Native Share and
Stock Brokers Association which was later renamed the Bombay Stock Exchange.
● It is located on Dalal Street, Mumbai, and lists over 6000 companies.
● Investors can trade on the BSE share market via a brokerage fir For this, they need to pay a pre-
determined price to the broker.
● Sensex is the benchmark index of the BSE.
● It was launched on January 1, 1986, as a basket of 30 stocks representing the country's largest,
financially-sound companies listed on the BSE.
LinkedIn India, Satya Nadella, Others Fined INR 27 Lakhs For Breaching Beneficial Ownership Norms
● The Ministry of Corporate Affairs (MCA) has imposed fines to the tune of INR 27 Lakh on LinkedIn
India, the professional networking platform owned by Microsoft, and its CEO Satya Nadella, along
with eight other individuals, for violating significant beneficial ownership (SBO) norms under the
Companies Act, 2013.
● The penalties were detailed in a 63-page order issued by the Registrar of Companies (RoC) for the
National Capital Territory of Delhi and Haryana.
● The Registrar of Companies in its order stated that LinkedIn India and the individuals breached the
significant beneficial owner norms under the Companies Act, 2013
● A penalty of INR 7 lakh has been imposed on LinkedIn India, with INR 2 lakh each being slapped on
Nadella and Roslansky, as per the order.
India only nation among the top 5 to see growth in steel production
● India is the only country, among the top five steel-producing nations, to have seen a growth in
production in April, with the others seeing production drop by as much as 7% during the month.
● China, which is the world’s largest producer of steel, has seen its production in April fall more than
7% on year to 85.9 million tonne.
● Its production from January-April this year(2024), at 343.7 million tonne, is 3% lower as compared to
2023.
.
Fintech Infrastructure Provider Decentro Launches fully RBI-Compliant Next-Gen Payment Aggregator
stack for India
● Decentro, a fintech infrastructure provider in India, has launched Flow 2.0, a next-generation
payment stack designed to address comprehensive payment needs for businesses.
● The stack currently powers payments for clients like Shiprocket, Kodo, and Volopay, offering minimal
downtimes, disruptions and maximized business efficiency.
● Rohit Taneja, Co-founder and CEO of Decentro.f
UN upgrades India's expected economic growth rate to 6.9% for 2024 From 6.2%
● The United Nations has updated its growth rate forecast for the Indian economy in 2024 (January-
December) to 6.9 percent.
● This new forecast was included in the World Economic Situation and Prospects mid-2024 report,
released on May 16, 2024.
● This report is published by the United Nations Economic Analysis and Policy Division.
● In its January 2024 report, the UN had predicted a 6.2 percent growth rate for India in 2024.
● The primary reason for the improved outlook is attributed to strong public investment and resilient
private consumption.
● The January 2024 UN World Economic Situation and Prospects (WESP) report had predicted a
6.2 percent growth rate, now revised to 6.9 percent. However, the forecast for 2025 remains
unchanged at 6.6 percent.
● The report anticipates inflation in India to decline from 5.6 percent in 2023 to 4.5 percent in 2024.
The Reserve Bank of India's medium-term inflation target is between two and six percent.
● The UN World Economic Situation and Prospects report forecasts the global economy to grow by
2.7 percent in 2024 and 2.8 percent in 2025.
● The United States, the world's largest economy, is expected to grow by 2.3 percent in 2024,
while China, the second-largest economy, is projected to grow by 4.8 percent in 2024.
● The South Asia region is expected to grow by 5.8 percent in 2024, driven mainly by India's strong
performance and a slight recovery in the Sri Lankan and Pakistani economies. In 2025, the South
Asian economy as a whole is projected to grow by 5.7 percent.
Expected Growth Rate of the Indian Economy (2023-24, 2024-25, 2025-26)
Below are the GDP growth forecasts from various global and Indian financial agencies as of May 18,
2024:
.
Agency / GDP Growth GDP Growth GDP Growth

Organisation Forecast for 2023- Forecast for 2024- Forecast for 2025-
24 25 26
Reserve Bank of 8% 7% -
India
World Bank 7.5% 6.6% 6.5%
International 6.7% 6.5% 6.5%

Monetary Fund
Asian Development 7.6% 7% 7.2%

Bank
Moody's 6.8% (Jan-Dec 6.4% (Jan-Dec -

2024) 2025)
Morgan Stanley 7.9% 6.8% -
S&P Global 7.4% 6.8% 7%

United Nations 6.9% (Jan-Dec 6.6% (Jan-Dec -
2024) 2025)
OECD 6.3% 6.2% 6.5%

Fitch Rating 7.8% 7.0% -
CRISIL 7.6% 6.8% -

Citi Bank - 6.8% -
Standard Chartered - 7.0% -

Bank
India's internet economy likely to reach $1 trillion by 2030

● India's internet economy is on track for substantial expansion, with experts forecasting it to reach $1
trillion by 2030.
● This surge is chiefly steered by the e-commerce sector, projected to grow at a robust annual rate of
25% from $60 billion in FY2023 to $325 billion, positioning it as the third-largest globally.
.
The GST portal has introduced machine registration for pan masala and tobacco manufacturers as a
measure to combat tax evasion.
● In a bid to counter tax evasion within the pan masala and tobacco industries, the GST portal has
introduced new protocols and procedures for manufacturers to register their machinery and report
their monthly inputs and outputs.
● This initiative, stemming from recommendations by the GST Council, seeks to bolster compliance
efforts and curb illicit trade.
● To address evasion concerns, the GST portal has devised two forms specifically tailored for pan
masala and tobacco product manufacturers:
● Form GST SRM-I: Facilitating the registration and disposal of manufacturing machinery.
● Form GST SRM-II: Enabling the monthly reporting of inputs and outputs.
● These forms were introduced via a notification in January, in alignment with GST Council directives.
● Originally slated for implementation on April 1, the launch of this system was postponed to May 15.
● The Finance Act 2024 has amended the GST law to incorporate penalties for manufacturers who
neglect to register their packing machinery. Offenders may incur fines of up to ₹1 lakh, although the
precise penalty provisions have yet to be notified.
India’s merchandise exports to reach US$ 500 billion by FY25: FIEO
● The Federation of Indian Export Organisations (FIEO) anticipates that India's merchandise exports
will rebound to $500-510 billion in FY 25, following a 3% decline in the preceding fiscal period.
● Services exports are projected to add $390-400 billion, resulting in a total export figure of around
$890-910 billion.
● Notable sectors propelling this growth encompass engineering, advertising services, and the
expansion of global capability centers.
Broadening Economic Horizons: DP World Launches Free Trade Warehouse Zone in Chennai
● DP World, a dominant force in global logistics, has unveiled its largest free trade warehouse zone in
Chennai, India, cementing Tamil Nadu’s position as a leading center for economic advancement.
● The inauguration of the Chennai facility marks a significant milestone, demonstrating DP World’s
dedication to India’s burgeoning economic landscape.
● Ranjit Ray highlights Chennai’s strategic importance, citing its strong connections to key global
markets in South Asia, Africa, and Australia through maritime routes. With its proximity to major
ports such as Kattupalli, Ennore, and Chennai, the city emerges as a hub for logistics, enabling
.
smooth cargo transportation and trade facilitation.

● The Integrated Chennai Business Park (ICBP), covering over 6 lakh sq ft with potential for further
expansion, epitomizes DP World’s strategic vision to utilize Chennai’s infrastructure for fostering
economic prosperity.
In April 2024, the DPIIT reported over 7 million transactions on the ONDC platform.
● The Open Network for Digital Commerce (ONDC), initiated in 2021, has experienced significant
growth, with transactions surpassing 70 lakh in April of 2024.
● Led by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC strives to
democratize digital commerce and establish an equitable environment for businesses of all scales.
● The Department for Promotion of Industry and Internal Trade (DPIIT) disclosed that over 5 lakh
sellers have been integrated into the ONDC platform, with more than 70% representing small or
medium-sized enterprises.
● The ONDC entity, constituted as a not-for-profit organization under Section 8 of the Companies Act
2013, oversees the management and operation of the ONDC Network.
● Tasked with developing and upholding the foundational infrastructure, the entity delineates the
regulations and ethical standards for network participants via the ONDC Network Policy and the
ONDC Network Participant Agreement.
India's Foreign Exchange Reserves Surge by $2.56 Billion to Reach $644.15 Billion
● According to the Reserve Bank of India (RBI), India’s foreign exchange reserves witnessed a rise of
$2.56 billion, reaching a total of $644.15 billion by the week ending on May 10.
● This uptick follows a previous increase of $3.668 billion following three consecutive weeks of
decline.
● The reserves' foreign currency assets, which constitute a substantial portion, escalated by $1.488
billion to $565.648 billion.
● There was a notable increase in gold reserves, surging by $1.072 billion to $55.952 billion during the
mentioned week.
● India’s Special Drawing Rights with the International Monetary Fund (IMF) rose by $5 million,
reaching a total of $18.056 billion.
● India’s reserve position with the IMF experienced a slight decline of $4 million, totaling $4.495 billion
for the reporting week.
.
Ind-RA Projects GDP Growth Rate at 6.7% for Q4, Anticipates Around 7% in FY24
● The Indian economy demonstrated robust growth throughout the first three quarters of the 2023-24
fiscal year, with GDP expanding by 8.2% in the June quarter, 8.1% in the September quarter, and
8.4% in the December quarter.
● According to Sunil Kumar Sinha, principal economist at India Ratings and Research (Ind-RA), the
GDP growth rate is expected to reach 6.7% for the March quarter and approximately 6.9-7% for the
entire fiscal year.
● In its April monetary policy review, the Reserve Bank of India forecasted a GDP growth rate of 7%
for 2023-24.
● Sinha anticipates GDP to expand by 7.1% in the current fiscal year, maintaining the momentum
observed in the first half.
Fusion MicroFinance has successfully secured a $25 million loan from the US International
Development Finance Corporation (DFC).
● Fusion MicroFinance has secured a $25 million loan from the United States International
Development Finance Corporation (DFC) to support its expansion initiatives, with a primary focus on
empowering rural women entrepreneurs.
● The initial disbursement of $20 million, part of an eight-year loan, is intended to bolster business
operations and advance efforts towards financial inclusion.
India in trade deficit with nine of top 10 trading partners in 2023-24
● China emerged as India's largest trading partner with $118.4 billion in two-way commerce in 2023-
24, surpassing the USA.
● Bilateral trade between India and the US stood at $118.28 billion in 2023-24.
● The US had been India's top trading partner during 2021-22 and 2022-23.
● India has a free trade agreement with four of its top trading partners: Singapore, the UAE, Korea,
and Indonesia (as part of the Asian bloc).
● India recorded a trade surplus of $36.74 billion with the US in 2023-24.
● India's total trade deficit narrowed to $238.3 billion in the last fiscal year, compared to $264.9 billion
in the previous fiscal year.
GAIL's 10 MW green hydrogen plant in Madhya Pradesh inaugurated
● GAIL (India) Ltd, the nation's leading natural gas transmission and distribution firm, has achieved a
significant milestone with the commissioning of its first green hydrogen plant. Located in Vijaipur,
.
Madhya Pradesh, this marks the company's entry into the realm of new and alternative energy
sources.
● This innovative Green Hydrogen plant boasts a capacity to produce 4.3 Tons Per Day (TPD) of
hydrogen.
● It achieves this through 10 Megawatt (MW) PEM (Proton Exchange Membrane) Electrolyzer units,
utilizing the process of electrolysis of water powered by renewable energy sources.
The income Tax department sets the Cost Inflation Index at 363 for the financial year 2024-25
● The income tax department has announced the Cost Inflation Index (CII) for the fiscal year beginning
April 2024.
● This index is crucial for calculating long-term capital gains from the sale of immovable property,
securities, and jewellery.
● Purpose of the Cost Inflation Index : Taxpayers use the CII to compute gains from the sale of capital
assets, adjusting for inflation to reflect the true gain.
● The updated CII for 2024-25 shows an increase of 15 points from the previous year, indicating an
annual inflation rate of approximately 4.3%.
● The CII is notified annually under the Income-tax Act, 1961.
Market capitalisation to GDP ratio scales a 15-year high of 140.2%
● The market capitalisation (mcap) of all listed companies on the Bombay Stock Exchange (BSE) has
increased by 61 percent since the end of March 2023.
● This is in stark contrast to the estimated 10 percent growth in India's Gross Domestic Product (GDP)
at current prices for FY24.
● India's mcap-to-GDP ratio has soared to a 15-year high of 140.2 percent, a significant rise from 95.8
percent at the end of March 2023. As of May 21, the total valuation of all BSE-listed companies
reached $5 trillion (over Rs 414.46 trillion), compared to India's GDP at current prices of Rs 296.6
trillion for FY24.
● The current mcap-to-GDP ratio is just below the all-time high of 149.4 percent recorded at the end of
December 2007.
Tata Communications, Cisco to tap ‘$400-mn calling market in India’
● Tata Communications and Cisco join forces to tap into India’s burgeoning calling market, valued
between $300 to $400 million, with a yearly growth rate of 10 to 12%.
● Cisco and Tata Communications introduce Webex Calling solution in India, leveraging cloud-based
.
PSTN, facilitating the transition for businesses from on-premises phone systems to a global cloud
calling infrastructure.
● Integrating Webex Calling with Tata Communications’ Cloud PSTN reach and local regulatory
expertise in India promises enterprises an improved connectivity and collaboration experience,
fostering seamless business operations.
Reliance Industries to begin construction on India’s first multimodal logistics park near Chennai
● India’s first Multimodal Logistics Park, conceptualized 12 years ago and located at Mappedu near
Chennai, will finally see construction commence in June, led by Reliance Industries.
● In 2022, Reliance Industries won the bid for the Rs 1,424 crore project on 184.27 acres of land in
Tiruvallur district, surpassing Adani Group.
● A Memorandum of Understanding was signed in October 2021 among Tamil Nadu Industrial
Development Corporation, National Highways Logistics Management Limited, and Chennai Port
Trust.
LIC reports 2.5% rise in Q4 net profit to ₹13,762 Crore, announces dividend
● The Life Insurance Corporation of India (LIC) has reported a 2.5% year-on-year increase in net profit
for the March quarter of FY24, reaching ₹13,762 crore compared to ₹13,421 crore in the same
period last year.
● LIC, the country’s largest insurer, also announced an interim dividend of ₹6 per share.
● LIC’s overall Profit After Tax (PAT) for FY24 stood at ₹40,676 crore, up from ₹36,397 crore in the
previous fiscal year.
● LIC reported an improvement in its asset quality, with the gross non-performing asset (GNPA) ratio
decreasing to 2.01% in the final quarter of FY24, down from 2.56% in the corresponding period last
year.
● LIC’s total premium income for FY24 was ₹4,75,070 crore, marginally higher than the ₹4,74,005
crore recorded in FY23.
● LIC’s solvency ratio, a key measure of financial stability, improved to 1.98 as of March 31, 2024, up
from 1.87 a year earlier.
TATA AIG General Insurance Introduces Surety Insurance Bonds for Infrastructure Development
● TATA AIG General Insurance, a leading private insurer, launches Surety Insurance Bonds to bolster
infrastructure development, aligning with the government's allocation of 3.3% of GDP in FY 2024.
● These bonds, offered in conditional and unconditional formats, are tailored to streamline the
.
execution of infrastructure projects and commercial contracts in both government and private
sectors, addressing various project requirements effectively.
● A surety bond is a legally binding agreement involving three parties: the obligee, the principal, and
the surety.
Tata AIA Life Insurance introduces an instant Rs 1 lakh loan service, allowing policyholders to get funds
in just 1 minute
● Tata AIA Life Insurance introduces a pioneering service enabling policyholders to secure instant
loans, up to Rs. 1 lakh, via the MyDigiAccount portal, ensuring a hassle-free digital process.
● This initiative aims to furnish swift financial assistance while safeguarding the policy's coverage,
ensuring peace of mind for policyholders.
● Since its inception, the service has processed over 500 requests, disbursing approximately Rs. 5.5
crores, reflecting its growing popularity and utility.
● The new service extends loans up to Rs. 1 lakh without necessitating collateral or credit
assessments, offering competitive interest rates at 8.80% per annum, significantly lower than
conventional personal loan rates.
Reliance to buy Russian oil from Rosneft in roubles
● Reliance Industries Limited enters a pivotal one-year agreement with Russia's Rosneft, committing
to purchase a minimum of 3 million barrels of oil per month, denominated in roubles.
● This term deal empowers Reliance to acquire oil at discounted rates, providing a competitive edge
amidst expectations of extended supply cuts by the OPEC+ consortium.
● Reliance pledges to settle payments for the oil using Russia's rouble currency, facilitated by HDFC
Bank and Russia's Gazprombank.
Reliance-Backed Radisys Enters Telco Infra Business in Africa, Forms Consortium Including Nokia,
Tech Mahindra
● Radisys, backed by Reliance, leads a consortium named Next-Gen Infra Co (NGIC), partnering with
Nokia, Mahindra Tech, Ascend Digital, K-NET, and Mobile Network Operators (MNOs) AT Ghana
and Telecel Ghana to establish a 4G and 5G network for the Government of Ghana.
● The formation of NGIC is pivotal for fostering affordable, high-speed data access, aligning with
Ghana's vision of achieving 100% Digital Ghana by 2030.
● NGIC plans to collaborate with MNO partners to introduce affordable 4G/5G-enabled smartphones in
Ghana by the end of the current year, aiming to democratize access to advanced technology.
.
● The consortium's partnership aims to revolutionize various sectors such as education, healthcare,
and payment transactions, enriching the lives of Ghanaians through digitalization initiatives.
BANKING AND ECONOMY

Dividend from RBI in FY25 Expected the Government to Yield Rs 75,000-85,000 Crore
• The central government is likely to receive a dividend of Rs 75,000-85,000 crore from the Reserve
Bank of India (RBI) in the current financial year.
• This is slightly lower than the Rs 87,416 crore surplus transfer in FY24.
• The Centre has budgeted Rs 1.02 trillion in surplus transfer from the RBI and public sector banks
(PSBs) for FY25, but has not specified the breakup.
• Foreign Exchange Transactions and Impact on Earnings: Earnings on foreign exchange
transactions are expected to be lower due to reduced dollar sales.
About RBI :
• Deputy governors : Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar
Jammu and Kashmir Bank Reports Record Annual Profit of Rs 1,767 Crore for FY24
• Jammu and Kashmir (J&K) Bank reported a record net profit of Rs 1,767 crore for the fiscal year
2023-24.
• This represents a 48% increase over the previous record of Rs 1,197 crore achieved in the prior
fiscal year.
• Total Income Growth:The bank's total income increased by 10% to Rs 6,029.17 crore, compared to
Rs 5,502.09 crore in the previous fiscal year.
• Improved Asset Quality:The gross non-performing assets (NPAs) decreased to a decadal low of
4.08%.
About Jammu and Kashmir Bank :
• Founded : 1 October 1938
• Headquarters : Srinagar, Jammu and Kashmir, India
• MD & CEO : Baldev Prakash
.
Securities and Exchange Board of India Mandates Portfolio Management Services Providers to
Register with Association of Portfolio Managers in India
• The Securities and Exchange Board of India (SEBI) has made it compulsory for Portfolio
Management Services (PMS) providers to register with the Association of Portfolio Managers in
India (APMI).
• This requirement aims to enhance oversight and streamline operations in the financial sector.
• The new regulation aims to promote collective oversight of PMS distributors, fostering a more
efficient and transparent business environment for portfolio managers.
About SEBI :
Top 4 Credit Card Issuers in India Experience Market Share Decline in FY24: RBI Data
• The Reserve Bank of India (RBI) reported that the market share of the top four credit card issuers
in India declined during FY24 in terms of monthly card spends and total cards outstanding.
• The market share of the top 4 issuers-HDFC Bank, SBI Card, ICICI Bank, and Axis Bank dropped
to 71.98% as of March 2024, from 74.79% a year earlier.
• Credit Card Spends and Growth:Credit card spends surged 27% year-on-year (Y-o-Y) to Rs 18.26
trillion in FY24, up from nearly Rs 14 trillion in the year-ago period.
• Total Number of Credit Cards:The total number of credit cards issued by banks in India increased
to 101 million in March 2024, from 100.60 million at the end of February 2024.
RBI's Innovation Hub Collaborates with mysaltapp and FICCI Ladies Organisation to Release White
Paper on Women Entrepreneurs in Middle India
• The Reserve Bank of India’s Innovation Hub (RBIH) subsidiary collaborated with mysaltapp and
the FICCI Ladies Organisation to release a white paper titled "At The Helm: Women Entrepreneurs
Transforming Middle India."
• Main Findings on Funding for Women Entrepreneurs:The white paper revealed that only 3% of
women entrepreneurs in Tier 2 and Tier 3 cities have access to external funding.
.
• This indicates a significant gap in funding availability for women entrepreneurs in smaller cities
compared to major urban areas.
About RBIH :
• The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India (RBI)
set-up to promote and facilitate an environment that accelerates innovation across the financial
sector.
Reserve Bank of India Issues Draft Framework for Lenders' Project Financing in Infrastructure and Real
Estate Sectors
• The Reserve Bank of India (RBI) issued a draft harmonised prudential framework for lenders’
financing of projects in infrastructure, non-infrastructure and commercial real estate sectors.
• It prescribed norms for restructuring of their exposure in projects under implementation on account
of change in date of commencement of commercial operations (DCCO).
• Income Recognition, Asset Classification, and Provisioning:The draft framework is titled "Income
Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under
Implementation (IRACP-PUIMP)."
Reserve Bank of India Proposes Stricter Regulations for Lending to Projects Under Implementation
• The Reserve Bank of India (RBI) proposed tighter rules to govern lending to projects under
implementation.
• The RBI’s draft rules include a classification of the projects as per their phase and higher
provisioning of up to 5% during the construction phase, even if the asset is standard.
• It can be noted that in the last credit cycle, project loans were seen to have led to a build-up of
stress on bank books.
About RBI :
Reserve Bank of India Permits Standalone Primary Dealers to Access Foreign Currency Borrowing
• The Reserve Bank of India (RBI) has allowed standalone primary dealers (SPDs) to borrow in
foreign currency from their parent companies and entities it has authorised.
• They can also access overdraft facilities in their nostro accounts for operational purposes.
.
• Definition of Nostro Account: A nostro account is a bank account held in a foreign country by a
domestic bank, denominated in the currency of that foreign country.
Foreign portfolio investors Registered with SEBI at GIFT International Financial Services Centre
Permitted to Issue Participatory Notes (P-notes)
• Foreign portfolio investors (FPIs) domiciled at the GIFT International Financial Services Centre
(IFSC) and registered with the Securities and Exchange Board of India (SEBI) are now permitted
to issue offshore derivative instruments (ODIs), commonly known as participatory notes (P-Notes).
• At present, the International Financial Services Centre Authority (IFSCA), the unified regulator for
GIFT City, allows banking units to issue pnotes.
• P-Notes, short for Participatory Notes, are financial instruments that enable foreign investors to
invest indirectly in Indian securities without having to register with the SEBI.
About SEBI :
About GIFT International Financial Services Centre :
• Headquarters : GIFT City, Gandhinagar in Gujarat
• GIFT IFSC is a financial centre and special economic zone in Gujarat International Finance Tec-
City (GIFT City) covering 106 ha (261 acres).
• It is regulated by the International Financial Services Centres Authority, an independent regulator
exclusive to the zone.
• GIFT City is a joint venture between the Government of Gujarat and IL&FS, a leading
infrastructure development and finance company in India.
Bank Certificate of Deposit (CD) Fundraising Drops by 74% in April 2024 Amid Eased Liquidity and
Reduced Loan Demand
.
• Fundraising by banks through Certificates of Deposit (CDs) declined by 74% in April 2024
compared to March 2024, attributed to eased liquidity tightness in the banking system and
moderated demand for loans.
• In April 2024, banks raised ₹32,860 crore through CDs, down from ₹1.27 trillion in March 2024.
• Nature of CDs: CDs are negotiable, unsecured money market instruments issued by banks as
Usance Promissory Notes against funds deposited at the bank.
Reserve Bank of India Reduces Margin Funding Limits from 50% to 30%
• The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the
capital markets, emphasizing compliance with prescribed guidelines.
• The directive, titled "Banks' Exposure to Capital Market - Issue of Irrevocable Payment
Commitments (IPCs)", addresses the issuance of IPCs by custodian banks.
• Shift from T+2 to T+1: The RBI's directive is a response to changes in the stock exchange
settlement cycle, transitioning from T+2 to T+1 for equities.
Reserve Bank of India Revokes Acemoney (India's) Non-Banking Financial Company License for
Breaching Guidelines
• The Reserve Bank of India (RBI) has cancelled the license of Acemoney (India), a Delhi-based
non-banking financial company (NBFC), due to irregular lending practices and violation of RBI
guidelines.
• Violation of RBI Guidelines:
• The cancellation was based on multiple factors, including:
• Charging excessive interest rates.
• Failing to ensure confidentiality of customer information.
• The RBI also cited non-compliance with regulations pertaining to managing risks and code of
conduct in outsourcing financial services in digital lending operations through third-party apps.
About RBI :
• Deputy Governors : M.D.Patra; M Rajeshwar Rao; J Swaminathan and T Rabi Sankar
Reserve Bank of India Releases Draft Framework for Electronic Trading Platforms
.
• The Reserve Bank of India (RBI) has proposed a revised regulatory framework for Electronic
Trading Platforms (ETPs) due to increased integration of the onshore forex market with offshore
markets.
• Market makers too have been requesting the Reserve Bank to allow access to offshore ETPs
offering Indian Rupee (INR) products.
• An Electronic Trading Platform (ETP) is any electronic system, other than a recognized stock
exchange, on which transactions in eligible instruments are contracted.
• Eligible instruments include securities, money market instruments, foreign exchange instruments,
derivatives, or other instruments of similar nature.
Reserve Bank of India Introduces Two Vital Surveys to Gather Insights for Upcoming Monetary Policy
• The Reserve Bank of India (RBI) announced two key surveys, the 'Inflation Expectations Survey of
Households' and the 'Consumer Confidence Survey', to gather data for the upcoming bi-monthly
monetary policy.
• The next bi-monthly monetary policy meeting is scheduled for June 5-7, 2024.
• This survey captures subjective assessments of price movements and inflation from households
across 19 cities, including Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, and
Thiruvananthapuram.
About RBI :
• Deputy Governors : M.D.Patra; M Rajeshwar Rao; J Swaminathan and T Rabi Sankar
ICICI Bank's Market Cap Surpasses Rs 8 Trillion, Joins India's Top 5 Companies
• Shares of ICICI Bank surged over 5%, sending its market capitalisation past the `8-trillion mark
and into the league of the top 5 companies by market value.
• The private lender has become the second bank to cross this milestone, after HDFC Bank.
• Top Companies by Market Capitalization:
➢ Reliance Industries leads with a market capitalization of Rs 19.8 trillion.
➢ Tata Consultancy Services (TCS) is second with Rs 14 trillion.
➢ Among banks, HDFC Bank has a market capitalization of Rs 11.6 trillion, ICICI Bank Rs 8.14
trillion, and State Bank of India Rs 7.4 trillion.
.
About ICICI Bank :

Unified Payment Interface Transactions Slightly Decreased to Rs 19.64 Lakh Crore in April 2024 from
Rs 19.78 Lakh Crore in March 2024
• In April 2024, Unified Payment Interface (UPI) transactions decreased by 0.7% in value and 1%
in volume compared to March 2024.
• The value of transactions in April, 2024 stood at Rs 19.64 trillion, down from Rs 19.78 trillion in
March, 2024.
• The volume of transactions was 13.3 billion in April, compared to 13.44 billion in March.
• Year-on-year (Y-o-Y), UPI transactions increased by 50% in volume and 40% in value.
About UPI :
mobile application.
Securities and Exchange Board of India Allows Optional Nomination for Joint Mutual Fund Portfolios
• Capital markets regulator Securities and Exchange Board of India (SEBI) made the nomination
optional for jointly-held mutual fund accounts in a bid to promote ease of doing business.
• Fund houses are now permitted to have a single fund manager to oversee commodity and
foreign investments, which is expected to reduce management costs.
• Deadline for Compliance: Existing individual mutual fund holders have until June 30, 2024, to
nominate or opt out of nomination for their accounts.
About SEBI :
.
Groww & Worldline Join India's Expanding Club of Online Payment Aggregators
• Financial services platform Groww and digital payment processing company Worldline
ePayments have secured a Reserve Bank of India (RBI) licence to operate as online payment
aggregators.
• An online payment aggregator licence allows companies to offer payment services for
merchants, typically e-commerce firms, by accepting various payment instruments from
customers.
• Groww has secured the licence for its UPI payments platform Groww Pay.
About Groww :
• Established : 2016 (Started Operations - 2017)
• CEO : Lalit Keshre
About Worldline :
• Headquarters : La Défense, France
• CEO : Gilles Grapinet
• Worldline SA is a French multinational payment and transactional services company.
NPCI International Payments Limited Signs Agreement with Bank of Namibia to Develop Instant
Payment System Similar to UPI
• NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia
(BoN) to support them in developing an instant payment system like Unified Payment Interface
(UPI) for Namibia.
• Aim : To enhance digital financial services and bolster real-time Person-to-Person (P2P) and
Merchant payment transactions (P2M) in the African nation.
• By leveraging technology and experiences from India's UPI, the partnership seeks to help Namibia
modernise its financial ecosystem.
About NIPL :
• CEO : Ritesh Shukla
About Bank of Namibia :
.
• Established : July 1990

• Headquarters : Windhoek, Khomas Region, Namibia
• Governor Johannes Gawaxab
Reserve Bank of India Removes Restrictions on Bajaj Finance's 'eCOM' and 'Insta EMI Card' Lending
Products
• The Reserve Bank of India (RBI) has lifted restrictions on Indian non-banking financial company,
Bajaj Finance's 'eCOM' and 'Insta Existing Member Identification card (EMI card)' segments,
allowing the company to resume the sanction and disbursal of new loans in these segments.
• Reason for Restrictions:The RBI had imposed restrictions in November 2023 due to concerns
raised by the regulatory authority regarding these lending segments.
About Bajaj Finance :
• Founded : 25 March 1987
• Headquarters : Pune, Maharashtra, India
• Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the lending and acceptance of deposits.
Bajaj Allianz General Insurance Launches 'Prive', a Unique Program Offering Unmatched Coverage and
Service Excellence
• Bajaj Allianz General Insurance, a leading private general insurer in India, has launched Prive, an
exclusive customer experience program designed to offer exceptional customer service and
coverage.
• Prive is an exclusive customer experience program crafted for a special segment of policyholders
Prive provides access to elevated and unmatched customer service at every touchpoint.
About Bajaj Allianz General Insurance :
• Headquarters: Pune, Maharashtra
• MD & CEO : Tapan Singhel
• It is a joint venture between Allianz SE, the world's leading insurer, and Bajaj Finserv Limited.
Reserve Bank of India Plans to Extend Operational Risk Norms to non-banking finance companies and
Cooperative Banks
• The Reserve Bank of India (RBI) released a guidance note on Operational Risk Management and
Operational Resilience in line with the Basel Committee on Banking Supervision (BCBS) for
regulated entities, which included non-banking finance companies and primary urban cooperative
banks, as well as central cooperative banks.
.
• The 2005 guidance on the issue, which will be repealed, was aimed only at commercial banks.
• The guidance note aims to promote and enhance the effectiveness of Operational Risk
Management among regulated entities (REs).
Reserve Bank of India Sets 8% Interest Rate for Floating Rate Savings Bond 2034
• The Reserve Bank of India (RBI) has announced an 8% interest rate on the Floating Rate Savings
Bond (FRSB) 2034.
• This is a variable rate bond, and the interest rate will be reset every six months.
• The Government of India is issuing a special type of bond called a Floating Rate Bond (FRB) that
matures in 2034.
• A floating rate bond is a debt instrument that does not have a fixed coupon rate, but its interest rate
fluctuates based on the benchmark the bond is drawn.
Scheduled Commercial Banks Record 16.3% Growth in Non-Food Bank Credit in FY24, Up from 15.4%
in FY23
• Scheduled commercial banks (SCBs) ended FY24 with a higher non-food bank credit growth of
16.3% against 15.4% in FY23.
• Credit growth in the year gone by was propelled by demand from sectors such as agriculture and
allied activities, industry and services.
• Influence of Risk Weight Changes on Personal Loans:The growth in personal loans moderated
due to the Reserve Bank of India (RBI) increasing the risk weights for consumer credit exposure by
25 percentage points in November 2023.
YES Bank Partners with ANQ to Launch Two Co-Branded Credit Cards, Pi and Phi
• YES Bank has partnered with Bengaluru-based financial services provider ANQ to launch two co-
branded credit cards, Pi and Phi.
• The partnership focuses on bridging the gap between traditional banking and the fintech industry,
offering innovative solutions to meet evolving consumer needs.
• It is a digital-only card designed to offer seamless credit on UPI for domestic transactions.
About Yes Bank :
• Tagline : Experience our expertise
.
About ANQ:
• ANQ is a digital banking platform that uses decentralized finance (DeFi) to deliver next-
generation financial services.
Non-banking financial companies reach a 4-year peak in commercial paper issuances
• Commercial Paper (CP) issuances by non-banking financial companies (NBFCs) reached ₹1.2-
lakh crore during January-March 2024, a four-and-a-half-year high since July-September 2019.
• However, this is still significantly lower than the record high of ₹3.1-lakh crore observed in July-
September 2018.
• The increase in CP issuances is partially driven by the Reserve Bank of India's mandate to
increase risk weights on bank loans given to higher-rated NBFCs, leading to more CP issuance
as an alternative source of funding.
National Pension System (NPS) Assets Surge 27.85% Year-on-Year to Reach ₹11.73 Lakh Crore:
PFRDA Data
• As per the latest Pension Fund Regulatory and Development Authority (PFRDA) data, National
Pension System (NPS) assets under management (AUM) recorded a robust 27.85 per cent y-o-y
growth as of April 20, 2024 at ₹ 11.73 lakh crore (₹ 9.17 lakh crore).
• The overall AUM, including that of Atal Pension Yojana (APY), was flat compared to the end of
March 2024 level of ₹ 11.73 lakh crore.
About PFRDA :
Pension Fund Regulatory and Development Authority Introduces Measures to Enhance Transparency
in Rule-Making Process
• The Pension Fund Regulatory and Development Authority (PFRDA) has implemented a
mechanism to make and review regulations, aimed at bringing more transparency and certainty to
the rule-making process.
• This mechanism among other things provides that the regulator would be guided by an “economic
analysis” of the proposed regulations before they are accepted and operationalised.
.
• The “economic analysis” would include expected direct and indirect costs and benefits to
subscribers, the economy, and society, due to the proposed regulation.
IIHL Requests Reserve Bank of India Approval to Pledge 100% of RCap's Shares
• IIHL BFSI (India), linked to the Hinduja Group, has sought approval from the banking regulator
Reserve Bank Of India (RBI) to pledge 100% shares of Reliance Capital, which it acquired in a
bankruptcy resolution, to raise ₹8,000 crore.
• IndusInd International Holdings (IIHL), a holding company of IIHL BFSI (India), received approval
from the National Company Law Tribunal (NCLT) to acquire Reliance Capital for ₹9,661 crore.
• Purpose of Fund-Raise : The proposed ₹8,000 crore fund-raise will be used to pay lenders of Anil
Ambani's erstwhile bankrupt financial services company, Reliance Capital.
State Bank of India's Fourth Quarter Net Profit Surges 24% to ₹20,698 Crore
• State Bank of India (SBI) has achieved its highest standalone quarterly net profit of ₹20,698 crore
in the fourth quarter, driven by robust growth in non-interest income, including treasury income,
along with effective cost management strategies and write-back in provisions for standard assets
and other provisions.
• This quarterly net profit surpasses the previous year's figure of ₹16,695 crore, indicating a
substantial growth trajectory for the bank.
• SBI's net profit for the fourth quarter of FY24 (Q4FY24) more than doubled sequentially, witnessing
a remarkable 125% increase from ₹9,163.96 crore reported in the preceding December quarter.
About SBI :
ICICI Prudential Life Insurance Introduces ICICI Pru Platinum, a ULIP Linked to Distributors'
Commission and Customers' Assets Under Management
• ICICI Prudential Life Insurance has launched ICICI Pru Platinum, the company’s first unit-linked
product (ULIP) which aligns distributor payouts to their customers’ fund value.
• The distributor commissions are linked to their customers’ Assets under Management (AUM).
• Aim : To foster the sustained growth of assets under management while offering customers a cost-
and tax-efficient means of wealth accumulation over extended periods.
.
About ICICI Prudential Life Insurance Company Limited :

• Established : 2000 (started its operations in 2001)
• MD & CEO : Anup Bagchi
• The life insurance arm was established as a joint venture between ICICI Bank Limited and
Prudential Corporation Holdings Limited.
• In 2016, the company became the first insurance company in India to be listed on the domestic
stock exchanges.
Reserve Bank of India Expected to Transfer Rs 1 Trillion as Dividend to the Centre in FY25
• The Reserve Bank of India (RBI) is anticipated to transfer approximately Rs 1,00,000 crore to the
government in the fiscal year 2024-25, as per a report by the Union Bank of India.
• This projection suggests a slight increase from the Rs 87,400 crore transferred in the previous
fiscal year.
• The government has budgeted the dividend from RBI and PSU banks and financial institutions at
Rs 1,02,000 crore for FY25, compared to Rs 1,04,400 crore in FY24.
• In 2023, there was a positive surprise as the actual dividend exceeded the Budget Estimate,
which was only Rs 48,000 crore.
About RBI :
• Established: 1 April 1935
15 Non-Banking Financial Companies relinquish their Certificate of Registration to the Reserve Bank of
India
• The Reserve Bank of India (RBI) has announced the cancellation of certificates of registration
(CoR) for 15 Non-Banking Financial Companies (NBFCs), including Tata Capital Financial
Services and Revolving Investments, due to various reasons.
• The cancellation was carried out by the RBI under Section 45-IA (6) of the Reserve Bank of India
Act, 1934.
India and Ghana Agree to Implement Unified Payments Interface on Ghana's Interbank Systems
.
• India and Ghana have agreed to operationalize India's Unified Payment Interface (UPI) of the
National Payments Corporation (NPCI) on Ghana’s Ghana Interbank Payment and Settlement
Systems (GHIPSS) within 6 months.
• This was a key outcome from the fourth session of the India-Ghana Joint Trade Committee (JTC)
held in Accra.
• Bilateral Trade and Collaboration: The meeting also discussed opportunities for a Memorandum of
Understanding (MoU) on digital transformation solutions and Local Currency Settlement System.
About UPI :
mobile application.
About Ghana :
• President : Nana Akufo-Addo
• Capital : Accra
• Currency : Cedi
Indian Bank Q4FY24 Earnings: Net Profit Increases by 55% to Rs 2,247 Crore
• Indian Bank's net profit rose by 55% to Rs 2,247 crore in Q4FY24, compared to Rs 1,447 crore in
the same period of FY23.
• For the entire fiscal year, the bank's net profit increased by 53% to Rs 8,063 crore in FY24, from
Rs 5,282 crore in FY23.
• Growth in Total Income: Total income in Q4FY24 rose by 19% to Rs 16,887 crore, compared to Rs
14,238 crore in Q4FY23.
About Indian Bank :
• Established : 15 August 1907
• MD & CEO : Shanti Lal Jain
• Tagline : Your Own Bank/ Apka Apna Bank
RBI Reports Housing Credit Surging by Rs 10 Trillion in the Past 2 Years
.
• According to Reserve Bank of India’s ( RBI's) data on 'Sectoral Deployment of Bank Credit', Credit
outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a
record Rs 27.23 lakh crore in March 2024.
• This represents a significant rise from Rs 19.88 lakh crore in March 2023 and Rs 17.27 lakh crore
in March 2022.
• According to the data of the RBI on sectoral deployment of bank credit for March 2024, the credit
outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March
2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
CareEdge Predicts Bank Credit-to-Deposit Ratio to Exceed 81% in FY25
• The credit-to-deposit (CD) ratio of banks is expected to remain at over 81% in FY25 as credit
growth continues to remain above the growth in deposits.
• Role of Deposit Growth in FY25:Deposit growth is anticipated to play a crucial role in FY25.
• Banks are expected to focus on strengthening their liability franchise to ensure that the slower
growth in deposits does not limit credit expansion.
• Estimations for Deposit and Credit Growth in Current Financial Year:CareEdge Ratings estimates
deposit growth to be in the range of 13-13.5% during the current financial year.
IDBI Bank Faces ₹2.9 Crore GST Order for Excess Input Tax Credit Claims
• IDBI Bank has received a Goods and Services Tax (GST) demand order of ₹2.97 crore along with
interest and penalty for alleged excess availment of input tax credit (ITC).
• Components of the GST Demand:The total demand of ₹2.97 crore comprises:
• Tax demand of ₹1.42 crore.
• Interest amount of ₹1.41 crore.
• Penalty of ₹0.14 crore.
• The Dehradun state tax department has issued an order under the GST rules pertaining to 2018-
19 fiscal for alleged excess availment and utilisation of ITC.
About IDBI Bank :
• MD & CEO : Rakesh Sharma
Reserve Bank of India Accepts Only ₹10,513 Crore Worth of Offers for Government Securities Buyback
.
• The Reserve Bank of India (RBI) accepted offers to buy Government Securities (G-Secs) totalling
₹10,513 crore, even though the total bids received were 1.33 times the notified amount of ₹40,000
crore.
• The RBI received bids worth Rs 53,333 crore at the auction. Market participants said that the RBI
accepted bids only at Financial Benchmarks India Private Limited (FBIL) levels.
• FBIL is an organisation in India responsible for administering and publishing various financial
benchmarks, including interest rate benchmarks.
About RBI :
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar
Small Finance Banks to Request Reserve Bank of India Guidance on Loan Book Diversification
• Small finance banks (SFBs) are likely to seek clarification from the Reserve Bank of India (RBI) on
loan portfolio diversification, as the regulator has not specified the extent of diversification that
should be seen as desirable.
• In the recent guidelines provided by the RBI for the voluntary transition of SFBs to universal banks,
the regulator indicated a preference for eligible SFBs with diversified loan portfolios.
• Current Status of SFBs: Presently, there are 11 SFBs in operation, with AU and Fincare merging
earlier in the year.
RBI Removes Restrictions on Bank of Baroda World App, Allowing Onboarding of New Customers
• The Reserve Bank of India (RBI) has allowed the Bank of Baroda (BoB) to onboard new customers
through the 'Bob World' mobile application, lifting a restriction imposed in October 2023 due to
material supervisory concerns.
• The restriction lasted over 6 months.
• The bank will now resume onboarding new customers on the Bob World application, adding that it
remains committed to ensuring adherence and compliance with regulatory guidelines.
About BoB :
.

National Payments Corporation of India releases guidelines for onboarding merchants to BHIM Aadhar
Pay
• The National Payments Corporation of India (NPCI) has issued guidelines that put the
responsibility for verifying merchant details on acquiring banks for Bharat Interface for Money
(BHIM) Aadhaar Pay (BAP).
• Merchant Verification: Acquiring member banks are responsible for the merchants they onboard
directly or through aggregators/partners.
• Purpose of BHIM Aadhaar Pay: This service allows merchants to receive digital payments from
customers over the counter through Aadhaar Authentication.
About NPCI :
• Founded : 2008
• The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
• It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under
SEBI Extends Settlement Scheme Deadline for Stock Option Cases to June 10, 2024
• Capital markets regulator Securities and Exchange Board of India (SEBI) extended the settlement
scheme period till June 10, 2024, for entities involved in reversal trades in the stock options
segment on BSE in 2014 and 2015.
• The settlement scheme commenced on March 11 and was scheduled to conclude on May 10,
2024.
• SEBI introduced the ISO Settlement Scheme 2024 in March, offering a settlement opportunity to
entities involved in trade reversals in the stock options segment of BSE between April 1, 2014, and
September 30, 2015, who face pending adjudication proceedings.
About SEBI :
.

the Ministry of Finance (MoF), Government of India (GoI).
HDFC Life Launched "No Jhanjhat Life Insurance Fatafat Campaign" to Revolutionize Insurance
Purchase Experience
• HDFC Life has launched the "No Jhanjhat Life Insurance Fatafat" campaign to simplify and
expedite the process of purchasing life insurance through its online platform.
• Aim : To address India's low insurance penetration and significant protection gap by promoting a
simple and quick life insurance purchase experience.
• The campaign emphasizes the use of advanced technology to provide accessibility and
convenience to customers, making it easier to understand and buy life insurance online.
About HDFC Life :
• Founded : 2000
• MD & CEO : Vibha Padalkar
• Tagline : Sar Utha Ke Jiyo!
Ex-BharatPe COO Bahl's Eternal Capital unveils a Rs 120 crore venture capital fund
• Eternal Capital, founded by former BharatPe Chief Operating Officer (COO) Dhruv Dhanraj Bahl,
has launched its maiden venture capital (VC) fund with a target corpus of Rs 120 crore.
• The fund has a greenshoe option to raise an additional Rs 120 crore, allowing a total capacity of
Rs 240 crore.
• Regulatory Approval : Eternal Capital received approval from the SEBI for a Category-I Alternative
Investment Fund (AIF) in November 2023.
Indian Overseas Bank to Sell Two NPA Portfolios Worth Rs 13,472 Crore
• Indian Overseas Bank (IOB) has published sale notification pertains to the sale of 92 Non-
Performing Assets (NPAs) loans, collectively amounting to an aggregate Book Outstanding of Rs
13,471.68 crores, offered on portfolio basis in 2 lots through e-auction under the open auction
method.
.
• Aim : To enhance the bank's financial health, particularly as its Gross NPA levels have reduced
significantly from 11.69% in March 2021 to 3.90% by December 2023.
• Composition of Portfolios:The first portfolio includes 46 accounts financed under consortium
arrangements, three accounts under multiple banking arrangements, and two sole banking
ventures.
About IOB :
• Tagline : Good people to grow with
Green Finance: India Raised ₹20,000 Crore Through Sovereign Green Bonds in FY24 Auction
• India auctioned sovereign green bonds (SGrB) worth ₹20,000 crore in FY24, a significant increase
from ₹16,000 crore in FY23.
• Purpose of these bonds : To mobilize resources for green infrastructure projects, primarily for
expanding renewable energy capacity.
• Reserve Bank of India's Role in Green Bonds:The RBI conducted four sovereign green bond
auctions worth ₹20,000 crore in FY24.
• The proceeds from these bonds may be used to finance or refinance eligible green projects.
ICICI Bank Facilitates Unified Payments Interface Payments for Non-Resident Indians in India Using
International Mobile Numbers
• ICICI Bank has enabled instant payment facility Unified Payments Interface (UPI) for its non-
resident Indian (NRI) customers in India through their international mobile numbers.
• This feature aims to enhance convenience for NRIs in India, allowing them to make everyday
payments with ease.
• Scope of Transactions:With this facility, NRIs can pay for utility bills, merchant transactions, and e-
commerce purchases through their international mobile numbers linked to their Non-Resident
External (NRE) or Non-Resident Ordinary (NRO) bank accounts with ICICI Bank in India.
About ICICI Bank Ltd :
.
• Tagline : Hum Hai na khayal apka

Agricultural Credit Exceeds Expectations, Surges by 15% to Reach Rs 24.83 Trillion in FY24
• According to the latest data from National Bank for Agriculture and Rural Development (NABARD),
commercial banks, cooperative banks, and Regional Rural Banks (RRBs) disbursed Rs 24.84
trillion in agricultural credit in 2023-24.
• This represents a 15% increase compared to the previous fiscal year (FY23).
• Credit Flow to Agri-Allied Sectors:Out of the total credit, Rs 2.72 trillion was allocated to agri-allied
sectors such as animal husbandry, dairy, poultry, and fisheries.
• Regional Distribution of Agricultural Credit:The 5 southern states-Andhra Pradesh, Telangana,
Karnataka, Tamil Nadu, and Kerala, received over Rs 12.5 trillion, or 50.5% of the total credit
disbursed, despite having only 17% of India's gross cropped area.
About NABARD :
• It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Home Loan Outstanding Increases by Rs 10 Lakh Crore Over the Past 2 Years
• According to the Reserve Bank of India’s (RBI's) data on 'Sectoral Deployment of Bank Credit',
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to
reach a record Rs 27.23 lakh crore in March this year(2024).
• The data also showed that the credit outstanding towards commercial real estate stood at Rs
4,48,145 crore in March 2024. It was at Rs 2,97,231 crore in March 2022.
• Industry experts believe the sector will reach the $1 trillion milestone by 2030.
Reserve Bank of India instructs NBFCs to maintain the Rs 20,000 limit for cash disbursement in gold
loans
• The Reserve Bank of India (RBI) has issued a caution to non-banking finance companies (NBFCs)
that offer gold loans, warning them against exceeding the Rs 20,000 limit for cash loan disbursal.
.
• The advisory refers to Section 269 SS of the Income Tax Act, 1961, which prohibits any individual
from receiving more than Rs 20,000 as a loan amount in cash.
• Reason for Cap: This move by the RBI aims to discourage cash transactions, promoting
transparency and traceability in financial transactions.
About RBI :
PhonePe Holds Nearly Half of UPI Market Share in April with 49% Domination
• Digital payments platform PhonePe has continued to be the number one player in the unified
payments interface (UPI) ecosystem with a market share of close to 49% in April 2024 across P2M
(person to merchant) and P2P (person to person) transactions.
• PhonePe has maintained the top position in UPI transactions for over 40 months since November
2020.
• UPI Transactions Data for April 2024:According to data issued by the National Payments
Corporation of India (NPCI), PhonePe clocked 6.5 billion transactions through UPI out of the total
13.3 billion transactions. In terms of value, the company clocked transactions worth Rs 10 trillion.
About PhonePe :
• Headquarters : Bengaluru, Karnataka, India
• Co Founder & CEO : Sameer Nigam
Setu Launches Sesame, India's First Domain-Specific Large Language Model for the Banking, Financial
Services, and Insurance Sector
• Setu, an Indian fintech company part of the Pine Labs Group, unveiled Sesame, India's first Large
Language Model (LLM) specifically designed for the banking, financial services, and insurance
(BFSI) sector.
• Sesame was developed in collaboration with Sarvam AI, an Indian AI research firm.
• Setu claims that Sesame represents a "ChatGPT moment" for the financial services sector,
indicating a breakthrough in AI technology for BFSI.
.
• The unveiling took place at Adbhut India, an event organised by the non-profit People+ai, in the
presence of Nandan Nilekani (co-founder and director of EkStep Foundation), Shankar Maruwada
(co-founder and chief executive officer of EkStep Foundation), Tanuj Bhojwani (head of
People+ai), and other prominent figures in fintech, AI, and digital public infrastructure.
About Setu :
• Founded : 2018
• Founderd : Sahil Kini and Nikhil Kumar.
• It operates in various fintech areas such as account aggregation, data gateway, identity
verification, embedded finance, Open Network for Digital Commerce (ONDC), WhatsApp
Business, and Bharat Bill Payment Service (BBPS).
• Setu was acquired by Pine Labs for about $70-$75 million in 2022
About Sarvam AI :
• Co Founders : Dr.Vivek Raghavan, Dr, Pratyush Kumar
Central Banks Make Significant Investments in Gold Amid Lingering Global Uncertainty
• According to the World Gold Council (WGC), central banks worldwide continued to increase their
gold reserves in March 2024 with significant purchases led by emerging market banks.
• Central banks accounted for 23% of the overall gold demand, totalling 1,238 tonnes in the March
quarter.
• Central banks collectively added 16 tonnes of gold to their reserves in March, matching the
additions seen in February, 2024.
About WGC :
• Headquarters : London, United Kingdom
• CEO : David Tait
SoftBank Leads $1 Billion Funding Round for UK Self-Driving Startup Wayve
• Wayve, a British self-driving technology startup, has secured $1.05 billion in a funding round led by
SoftBank Group.
• Nvidia, a new investor, and existing investor Microsoft also contributed to the Series C funding
round.
.
• Purpose of Funding: To accelerate the development and launch of Wayve's Embodied AI

technology, which can learn from and adapt to human behavior.
About Wayve :
• Founded : 2017
• President : Erez Dagan
• CEO : Alex Kendall
• Wayve's autonomous driving technology utilizes AI to enable vehicles to navigate unpredictable
situations, such as unexpected actions by drivers, pedestrians, or environmental elements.
About SoftBank Group :
• Headquarters : Tokyo, Japan
• Chairman & CEO : Masayoshi Son
• SoftBank Group Corp. is a Japanese multinational investment holding company which focuses on
investment management.
Insurance Regulatory and Development Authority of India imposes a fine of Rs 1 crore on Initial Public
Offering-bound Go Digit Insurance
• The Insurance Regulatory and Development Authority of India (IRDAI) imposed a penalty of Rs 1
crore on Go Digit General Insurance for non-disclosure of a change in the conversion ratio of
compulsorily convertible preference shares (CCPS).
• The insurance regulator had earlier issued a show cause notice after noticing that Go Digit had
changed its conversion ratio of 63,00,000 CCPS issued by Go Digit Infoworks Services Pvt Ltd
(GDISPL), the parent company of the general insurer, to FAL Corporation, owned by Fairfax
Group.
• This was shown in an amendment to the joint venture (JV) agreement dated August 11, 2023.
About IRDAI :
in India.
.
State Bank of India Becomes Inaugural Bank to Join International Bullion Exchange as Trading and
Clearing Member
● Public sector lender, State Bank of India (SBI), has become the first trading-cum-clearing
member (TCM) at the India International Bullion Exchange (IIBX) – the country’s first bullion
exchange in GIFT City Gandhinagar.
● This enables SBI’s IFSC Banking Unit (IBU) to trade on the IIBX platform.
● The Reserve Bank of India recently permitted IBUs to act as trading members and trading and
clearing members at IIBX as special category clients (SCCs) to import gold through the bullion
exchange.
● SBI's participation is expected to boost trading volumes in gold and silver at the IIBX.
About IIBX :
● IIBX is India’s first bullion exchange established in IFSC Gift City.
● IIBX is a platform that enables trading in bullion with adherence to OECD Due Diligence
Guidance for Responsible Supply Chain of Minerals from Conflict-Affected and High-Risk Areas
for establishing supply chain integrity.
● The following types of entities are eligible to become members of IIBX-
➢ Non-Resident Individual / Proprietorship Firm
➢ Registered Partnership Firm
➢ Private Limited Company and Public Limited Company
➢ Qualified Jewellers
➢ IBU Branches at GIFT City
➢ Foreign Bullion Suppliers who follow OECD guidelines
About SBI :
Piramal Group's Fund Management Arm Injects Rs 600 Crore into Annapurna Finance
● Piramal Alternatives, the fund management arm of the Piramal Group, invested Rs 600 crore in
Annapurna Finance Private Limited.
● This investment comprised Rs 300 crore for acquiring a 9.85% stake in Annapurna Finance and
.
another Rs 300 crore for subscribing to Annapurna’s optionally convertible debenture.

● The deal involved a combination of a secondary purchase of shares and providing Tier-2 capital
to Annapurna Finance.
● Purpose of Investment: The structured capital solution is aimed at fueling the risk-calibrated
growth of Annapurna Finance's assets under management.
About Annapurna Finance :
● Headquarters: Bhubaneswar, Odisha, India.
● MD & CEO: Gobinda Chandra Pattanaik.
● Annapurna Finance is a Non-Banking Financial Company (NBFC) primarily focused on
microfinance.
● It applied for a universal bank license to the Reserve Bank of India last year.
● Unitus Capital acted as the exclusive financial advisor to Annapurna Finance.
● Annapurna Finance offers secured and unsecured loans for the micro, small, and medium-sized
enterprise sector.
● Annapurna Finance is backed by marquee domestic and overseas investors, including Nuveen
Global Impact, Oman India Joint Investment Fund, and the Asian Development Bank.
About Piramal Alternatives :
● CEO : Kalpesh Kikani
Zomato to Relinquish RBI License for Online Payment Aggregator Operations
● Zomato, a prominent food tech company, revealed that its subsidiary Zomato Payments Private
Limited (ZPPL) has chosen to voluntarily surrender the certificate of authorization obtained from
the Reserve Bank of India (RBI) to function as an online payment aggregator under the Payment
and Settlements Systems Act 2007.
● In connection with this decision, Zomato has incurred an impairment loss of Rs 39 crore for its
investment in ZPPL, its fintech subsidiary.
● The firm received the RBI’s nod to carry out business as a payment aggregator and issuer of pre-
paid payment instruments in January, 2024.
What is a payment aggregator?
● A payment aggregator is a third-party service provider that enables customers to make and
businesses to accept payments online.
● Payment aggregators enable their clients to accept various payment methods such as debit
.
cards, credit cards, cardless EMIs, UPI, bank transfers, e-wallets, and e-mandates.
About RBI :
About Zomato :
● Founded : July 2008
● Headquarters : Gurgaon, Haryana, India
● MD & CEO : Deepinder Goyal
SEBI Mandates Mandatory Certification for Alternative Investment Fund Manager's Investment Team
● Capital markets regulator Securities and Exchange Board of India (SEBI) has amended rules to
make it mandatory for at least one key personnel within an investment team of an Alternative
Investment Fund (AIF) manager to obtain requisite certification.
● The new requirement aims to boost competency and professionalism in the AIF space.
About SEBI :
South Indian Bank collaborates with Northern Arc Capital to establish new standards in the financial
sector
● South Indian Bank has formed an association with Northern Arc Capital aiming to explore and
maximise commercial prospects by combining efforts in loan origination, underwriting,
disbursement, collection, and reconciliation procedures.
● The collaboration will concentrate on co-lending and partnership lending activities, as well as
facilitating smooth loan transfers between banks and originators.
● This collaboration has been formalised with the signing of a Memorandum of Understanding
(MOU), demonstrating both institutions’ commitment to a mutually beneficial partnership.
.
● MD & CEO, Northern Arc Capital Ltd : Ashish Mehrotra

● Founded : 1929
● Headquarters : Thrissur in Kerala, India
● MD & CEO : P R Seshadri
HDFC Bank Introduces PIXEL Lineup of Digital Credit Cards
● HDFC Bank has launched "PIXEL," an end-to-end, mobile app-based customisable DIY digital
card range.
● PIXEL is aimed at customers characterised by digital fluency, unique preferences, and distinct
financial behaviours.
● PIXEL is a first-of-its- kind range of digital credit card series that offers seamless app-based
issuance, complete digital lifecycle management, user engagement and digital servicing.
● PIXEL will be offered in 2 variants – PIXEL Play and PIXEL Go.
● Both card variants offer up to 50 days credit-free period.
➢ PIXEL Play: A 'Build Your Own Card' variant offering customisable benefits including
merchants for accelerated cashbacks, card colour, and billing date.
● Targeted at users seeking digital customisation and credit card benefits.
➢ PIXEL Go: Designed for beginners entering the credit card world, offering flexibility in
payments through pay-in-parts.
● Banking tech company, Zeta, is the technology provider for Pixel.
About HDFC Bank Limited :
India Renews $50 Million Budgetary Assistance to Maldives for Another Year
● India has decided to extend its budgetary support to the Maldives government by rolling over a
$50 million treasury bill for another year.
● The State Bank of India (SBI) has subscribed for one more year to the $50 million Government
Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous
subscription.
.
● These treasury bills are subscribed by SBI under government-to-government, a unique

arrangement at zero cost (interest-free) to the Government of Maldives.
● The continuation of the subscription has been made at the special request of the Government of
Maldives to secure budgetary support from India.
What are Treasury bills (T-bills)?
● Treasury bills or T-bills are money market instruments.
● These are short term debt instruments issued by the Government of India.
● T-bills are issued in three maturities - 91-day, 182-day, and 364-day, and they are zero coupon
securities, paying no interest.
● They are issued at a discount and redeemed at face value upon maturity.
● The State Governments, eligible provident funds in India, Nepal Rashtra Bank, Royal Monetary
Authority of Bhutan (only in 91 Day T- Bills),Vnesheconom Bank (only in 91 Day TBills) and any
Person or Institution, specified by the RBI, in consultation with the Government, in this regard,
can participate on the non-competitive basis for Participation and Allotment of T-Bills.
● Individuals may also participate on a non-competitive basis as retail investors.
● For retail investors, the allocation will be restricted to a maximum of 5% of the aggregate nominal
amount of the issue, within the notified amount, as specified by the RBI, in consultation with the
Government of India, from time to time.
● Bills will be issued for a minimum amount of 10,000 and in multiples of 10,000 both on a
competitive basis, and on a non-competitive basis.
● The Bills will be issued in the form of Promissory Note/Credit to Subsidiary General Ledger
(S.G.L.) Account with the RBI.
● Treasury bills are issued at a discount to original value and the buyer gets the original value upon
maturity.
About Maldives :
● President : Mohamed Muizzu
● Capital : Malé
● Currency : Maldivian rufiyaa
Reserve Bank of India Data Reveals 40% Increase in Domestic Gold Reserves Over 5 Years
● India's gold reserve, held domestically, increased by 40% between March 2019 and March 2024,
as per the Reserve Bank of India's latest data.
.
● Total gold reserves witnessed a 34% uptick during the same period.
● RBI's Gold Holdings: According to the "Half Yearly Report on Management of Foreign Exchange
Reserves" by RBI, the central bank's gold holding rose by 27.46 metric tonnes in FY24 to reach
822.10 metric tonnes by the end of March 2024.
● In terms of USD value, the share of gold in total foreign exchange reserves increased to around
8.15%, totalling US $ 54.88 billion by March 2024.
● Composition of Gold Reserves: Out of RBI's total gold holdings, 408.31 metric tonnes were held
domestically, while 387.26 metric tonnes were kept in safe custody with the Bank of England and
the Bank for International Settlements (BIS).
● Report Structure: The report is divided into two parts: Part I contains the developments regarding
movement of foreign exchange reserves, information on the external liabilities vis-à-vis the
reserves, adequacy of reserves, etc., during the half-year under review.
● Objectives of reserve management, statutory provisions, risk management practices, information
on transparency and disclosure practices followed by the RBI with regard to reserve
management are covered in Part II.
● Reserve Increase: Reserves grew from USD 587.71 billion as of end-September 2023 to USD
646.42 billion as of end-March 2024 during the reviewed half-year period.
● Composition of Foreign Currency Assets (FCA) : Foreign Currency Assets stands at USD
570.95 billion are maintained as a multi-currency portfolio comprising major currencies, such as,
US dollar, Euro, Pound sterling, Japanese yen, etc. and are valued in terms of US dollars.
● Special Drawing Rights (SDR) and Reserve Tranche Position (RTP):SDR stands at USD 18.13
billion, with values in SDR million indicated in parentheses.
● RTP stands at USD 4.6 billion, representing the Reserve Tranche Position in the International
Monetary Fund (IMF).
● Short-Term Debt Ratio:The ratio of short-term debt (original maturity) to reserves decreased from
22% at end-September 2023 to 20.3% at end-December 2023.
● Investment and Deposit Breakdown:As of end-March 2024, out of the total FCA of USD 570.95
billion:
➢ USD 468.99 billion was invested in securities.
➢ USD 62.17 billion was deposited with other central banks and the Bank for International
Settlements (BIS).
.
➢ The balance of USD 39.79 billion comprised deposits with commercial banks overseas.
● Financial Transaction Plan of the IMF:During the reviewed half-year period, there was one
purchase transaction totalling USD 152.71 million and 8 repurchase transactions totalling USD
574.51 million under the Financial Transaction Plan of the IMF.
Paytm Shifts Focus to UPI Lite Wallet for Low-Value Payments
● One97 Communications, the parent company of Paytm, has launched the UPI Lite wallet to
simplify payments, particularly for low-value transactions.
● Transaction Limits: Users can make instant transactions of up to Rs 500 each using the UPI Lite
wallet.
● Additionally, they can add up to Rs 2,000 to their wallet twice a day, totalling Rs 4,000 daily.
● Leading banks such as Axis Bank, HDFC Bank, State Bank of India, and YES Bank are part of
this collaboration.
● Collaboration: One97 Communications Limited collaborates with prominent Payment System
Providers to establish a robust and reliable framework for the UPI Lite wallet.
● Transaction Limits According to NPCI: The UPI Lite wallet is designed for small transactions, with
transaction limits set by the National Payments Corporation of India (NPCI) at up to Rs 500 per
transaction.
About Paytm :
Insurance Regulatory and Development Authority of India Mandates Insurers to Extend Coverage to
Identified Gram Panchayats
● In a move that can bring insurance down to the grassroots, the Insurance Regulatory and
Development Authority of India (IRDAI) has mandated life and general insurers to extend cover
to certain identified Gram Panchayats.
● Per the master circular issued by the regulator on rural, social and motor third-party obligations,
the Life Insurance Council, in consultation with the Ministry of Panchayat Raj, will indicate the
minimum number of Gram Panchayats to each life insurer on mutually agreed parameters such
as market share, or any other parameter.
● A similar exercise will also be taken up by the General Insurance Council to identify the Gram
Panchayats for extending the health cover, Motor Third Party (MTP) insurance and the dwelling
.
shops.
● The new norms will be applicable from the current financial year.
● The new norms will also augur well for the recently-announced objective of achieving ‘Insurance
for All by 2047’ of IRDAI.
About IRDAI :
Public Sector Banks' Aggregate Profit Surges by 35%, Exceeds Rs 1.4 Trillion in FY24
● Public sector banks' cumulative profit crossed Rs 1.4 trillion in the financial year ended March
2024, recording a growth of 35% over the previous year on a high base of Rs 1 trillion.
● The 12 Public Sector Banks (PSBs) together earned a net profit of Rs 1,04,649 crore in 2022-23.
● Out of the total profit of Rs 141,203 crore earned during the FY24, market leader State Bank of
India (SBI) alone contributed over 40% of the total earnings.
● SBI earned a profit of Rs 61,077 crore 22% higher than the previous financial year (Rs 50,232
crore).
● In percentage terms Delhi-based Punjab National Bank had the highest net profit growth with
228% to Rs 8,245 crore, followed by Union Bank of India with a 62% rise to Rs 13,649 crore and
Central Bank of India with a 61% increase to Rs 2,549 crore.
● Among the banks which recorded over 50% jump in net profit included Bank of India with a 57%
growth to Rs 6,318 crore while Bank of Maharashtra with a 56% rise to Rs 4,055 crore and
Chennai-based India Bank recorded a 53% improvement to Rs 8,063 crore.
● During the year, the only public sector bank out of 12 that reported a drop in profit was Punjab &
Sind Bank.
● Punjab & Sind Bank, headquartered in Delhi, reported a 55% decline in annual net profit,
dropping from Rs 1,313 crore in 2022-23 to Rs 595 crore in the fiscal year ending March 2024.
● The government has implemented a comprehensive 4R strategy: Recognising NPAs
transparently, Resolution and recovery, Recapitalising PSBs, and Reforms in the financial
.
ecosystem.
State Bank of India Raises Short-Term Retail Fixed Deposit Rates by 25-75 Basis Points
● State Bank of India (SBI) has raised interest rates on retail domestic term deposits (below ₹2
crore) by 25-75 basis points for deposits of less than 1-year tenor.
● SBI has also increased interest rates on domestic bulk term deposits (₹2 crore and above) by 10-
50 basis points on five out of eight maturity buckets.
● The new interest rates are effective from May 15, 2024.
● Retail Term Deposit Rates: SBI has increased interest rates on retail domestic term deposits
across various maturity buckets. For example:
➢ Deposits of 46 days to 179 days: Increased from 4.75% to 5.50% (75 bps hike)
➢ Deposits of 211 days to less than 1 year: Increased from 6.00% to 6.25% (25 bps hike)
● The bank’s highest interest rate is 7% on deposits of 2 years to less than 3 years.
● Bulk Deposit Rate Changes: The bank has also raised interest rates on domestic bulk term
deposits for various durations. For example:
PhonePe Teams Up with LankaPay to Encourage Unified Payments Interface Payments in Sri Lanka
● PhonePe, a leading fintech company based in Bengaluru, has partnered with Sri Lanka-based
LankaPay to enable Unified Payments Interface (UPI) transactions for PhonePe users in Sri
Lanka.
● PhonePe users travelling to Sri Lanka can now make payments using UPI's rails across
LankaPay's merchants throughout the country.
● Transactions will be conducted in Indian Rupees (INR), with currency exchange rates applied to
such transactions.
● Apart from the National Payments Corporation of India’s (NPCI) UPI, these transactions will be
facilitated by the LankaPay National Payment Network.
● LankaPay is owned by the Central Bank of Sri Lanka.
● The launch event of the payments service in Sri Lanka's capital saw the participation of notable
figures such as Santosh Jha, the High Commissioner of India to Sri Lanka, and Dr. Nandalal
.
Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL).

● In 2023, PhonePe announced its plans to offer UPI services in markets beyond India, including
the United Arab Emirates, Singapore, Mauritius, Nepal, and Bhutan, with NPCI acting as an
enabler in these markets to promote UPI services.
● CEO of LankaPay : Channa de Silva
About PhonePe :
● Founded : 2015
About Sri Lanka :
● Capitals: Colombo, Sri Jayawardenepura Kotte
● Currency: Sri Lankan Rupee
● Prime minister: Dinesh Gunawardena
Reserve Bank of India's Investment in IIFC's UK Arm Decreases by 20% in FY24
● According to the latest Half Yearly Report on Management of Foreign Exchange Reserve, the
Reserve Bank of India’s (RBI) investment in the state-owned India Infrastructure Finance
Company (IIFC) UK subsidiary decreased by a 5th from the previous year, reaching $932 million
in FY '2023-24.
● The central bank is required to invest a portion of its foreign exchange reserves, specifically $5
billion, in the company.
● This mandate came from demands by the government to support infrastructure funding.
● The subsidiary company is tasked with borrowing funds from the RBI and lending them to Indian
companies involved in infrastructure projects within India or co-financing their External
Commercial Borrowings for such projects, specifically for capital expenditure outside India.
EaseMyTrip Partners with the Small Industries Development Bank of India and the Uttarakhand
Tourism Development Board
● EaseMyTrip.com partners with the Small Industries Development Bank of India (SIDBI) and the
Uttarakhand Tourism Development Board (UTDB) to introduce a Homestay Entrepreneurship
Training Programme.
● The program aims to empower homestay owners along the Chardham Yatra route by enhancing
their hospitality skills and promoting eco-friendly practices.
.
● Launched in April and continuing through May, the training program targets 150 homestay
owners. It integrates classroom learning with practical sessions.
● Training sessions have been conducted in Joshimath (Badrinath), Guptkashi (Kedarnath), and
Ukhimath (Kedarnath), with pending sessions scheduled in Gangotri (Uttarkashi) and Yamunotri
(Uttarkashi).
● As of now, certificates have been awarded to 31 homestay owners in Joshimath, 25 in
Guptkashi, and 39 in Ukhimath.
About EaseMyTrip :
● Founded : 2008
● Co-founder and CEO : Nishant Pitti
Asian Development Bank Grants $148 Million Loan to Enhance Power Supply in Sikkim
● Asian Development Bank (ADB) has approved a USD 148.5 million loan to help modernise and
enhance the reliability, quality and resilience of electricity supply in Sikkim.
● This project fully supports Sikkim’s Power for All initiative, ensuring round-the-clock uninterrupted
access to quality electricity for households, industries, businesses, and the public.
● The project will modernise Sikkim’s power distribution system by upgrading it with approximately
770 kilometres of climate-resilient medium-voltage underground and/or covered conductors.
● Additionally, it will replace 580 kilometres of ageing and low-capacity bare conductors with new
ones to increase distribution network capacity.
● It will upgrade 26 existing power substations, including the installation of a supervisory control
and data acquisition system, install 15,000 units of public street lighting in remote areas, and
conduct electricity conservation and safety awareness programmes in 28 villages.
About ADB :
.
Tata AIG General Insurance Collaborates with Aurm for Vault Services
● Aurm, an asset protection firm, has announced a strategic partnership with Tata AIG General
Insurance, to provide comprehensive insurance coverage to its customers for their valuables.
● Under this partnership, Aurm’s vaults will be fully insured for up to INR 25 lakh, courtesy of TATA
AIG, India’s general insurance provider.
● Aurm partners with banks and real estate companies to offer state-of-the-art safe deposit storage
facilities that are fully automated and available 24 hours a day, 365 days a year.
About Tata AIG General Insurance :
● CEO: Neelesh Garg.
● It is a joint venture company between TATA Group and American International Group (AIG).
TATA AIG Launches India’s First Satellite-based In-Orbit Third-Party Liability Insurance
● General insurance provider Tata AIG launched the ‘Satellite In-Orbit Third-Party Liability
Insurance’ policy to provide critical financial support to satellite manufacturers and operators in
the Indian space industry.
● The new insurance product, claimed to be India’s first, is designed to provide critical financial
protection for satellite manufacturers and operators.
● It is designed to offer comprehensive coverage for third-party bodily injury and property damage
in the event of an incident involving an orbiting satellite.
● With the privatisation of space launches, India aims to quintuple its share in the global launch
market, which is expected to reach $47.3bn (Rs3.95trn) by 2032.
Securities and Exchange Board of India Proposes Framework to Enable Domestic Mutual Funds to
Invest in Overseas Funds
● Market regulator Securities and Exchange Board of India (SEBI) proposed to allow investment by
domestic mutual funds in overseas funds that have limited exposure to Indian securities.
● Current Scenario : At present SEBI registered mutual funds are allowed to invest in overseas
.
securities, including American Depository Receipts (ADRs) / Global Depository Receipts (GDRs)
issued by Indian or foreign companies, equity of overseas companies listed on recognized stock
exchanges overseas.
● Proposed Guidelines:The Indian Mutual Fund schemes may invest in such overseas MF/Unit
Trust (UTs) that have exposure to Indian securities, provided that the total exposure to Indian
securities by such overseas MF/UTs shall not be more than 20% of their net assets.
● In case of a breach of the investment limit, the scheme will enter into an observance period of 6
months to correct the portfolio and no fresh investment or subscription will be allowed during this
period.
● Market Indices Exposure: As of April 30, 2024, the MSCI Emerging Markets Index (MEMI) has an
18.08% weightage to Indian securities.
● JP Morgan's 'Emerging Markets Opportunities Fund' holds approximately 15% of Indian
investments, according to its latest factsheet as of March 31, 2024.
● Current Restrictions:SEBI has imposed a ban on all overseas investments by mutual fund
schemes due to breaching the $7-billion investment limit set by RBI.
● Additionally, mutual funds have exhausted an additional $1-billion cap for exchange-traded funds
(ETFs).
Reserve Bank of India Plans Rs 1.25 Trillion 14-Day Variable Rate Reverse Repo (VRR) Auction
● The Reserve Bank of India (RBI) will conduct a 14-day Variable Rate Repo (VRR) auction for a
notified amount of Rs 1.25 trillion.
● A repo auction is conducted by the central bank to inject liquidity into the banking system.
● Currently, liquidity in the banking system is estimated to be in deficit of around Rs 1.20 lakh
crore, as per the RBI’s Money Market Operations as of May 15, 2024.
RuPay cardholders receive 25% cashback on in-store purchases in 7 countries until July 31
● National Payments Corporation of India’s (NPCI) RuPay card network has announced a limited-
time special cashback offer scheme for both RuPay credit and debit cardholders, from May 15 to
July 31, 2024.
● During the offer period, customers will receive 25% cashback on in-store point-of-sale purchases
made at merchants accepting cards on either ‘Discover’ network or ‘Diners Club International’
within Canada, Japan, Spain, Switzerland, United Arab Emirates (UAE), United Kingdom (UK)
and United States (US).
.
● The maximum cashback amount per transaction for a card during the offer period will be ₹2,500.
About NPCI :
● Founded : 2008
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
YES BANK Introduces YES Grandeur for Premium Banking Services Catering to Elite and Emerging
Affluent Segments
● YES BANK has announced the launch of YES Grandeur, an exclusive banking programme
designed to address the unique financial and lifestyle needs of India’s fast-growing Emerging
Affluent segment.
● The Emerging Affluent segment is projected to grow by 2.3 times over the next decade,
according to BCG CCI Proprietary Income Model, indicating a significant shift in consumer
banking preferences driven by increased disposable income and refined consumer behaviours.
● The expansion of the Indian middle class, expected to nearly double to 61% by 2046-47 as per
the PRICE Report, along with rising incomes, will further shape future consumption patterns.
● YES Grandeur is aimed at catering to the evolving market dynamics where the affluent are
increasingly seeking personalised services that complement their lifestyle.
● With an eligibility threshold of Average Monthly Balance (AMB) of ₹5 Lakh or a Net Relationship
Value (NRV) of ₹20 Lakh, with additional consideration given to loan relationships, YES
Grandeur is positioned to enhance the banking experience for this discerning customer base.
About YES Bank :
.
India 'sees' its 3rd unicorn of 2024 in logistics services platform Porter
● Homegrown logistics services platform Porter has likely become the 3rd unicorn (with valuation of
$1 billion and above) in India this year(2024) after a fresh internal round.
● The fresh round involved key individual investors who bought stock from the employee stock
ownership plan (ESOP) pool of the logistics provider, taking its valuation at $1 billion.
● Before Porter, India saw the birth of two unicorns -Ola's Krutrim AI and fintech firm Perfios - this
year(2024) amid global slowdown.
About Porter :
● Founded : 2014
● Founders : Pranav Goel, Uttam Digga and Vikas Choudhary
● The company launched an on-demand marketplace for various logistics services, including
trucks, bikes, and packers & movers.
New Point of Sale Deployment Slows to Lowest Growth Rate Since Demonetisation: RBI Data
● The convenience of Unified Payments Interface (UPI) platforms is increasingly favoured by
merchants and consumers, reducing the reliance on debit cards for cashless transactions.
● New PoS Terminal Deployment:The deployment of new point-of-sale (PoS) terminals grew at the
slowest pace in fiscal 2023-24 since demonetisation, according to RBI data.
● New PoS terminal deployment rose by 14% between March 2023 and 2024, compared to 28%
and 29% in the preceding two years.
● The highest growth rate in recent years was 82% in 2016-2017, following demonetisation when
the base was 1.38 million machines.
About UPI :
● Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
● It is developed by the National Payments Corporation of India (NPCI).
● It was introduced in April 2016.
IFC Provides $500 Million Financing to HDFC Bank to Boost Microloans
● The International Finance Corporation (IFC) has extended $500 million in financing to HDFC
Bank to expand microloans for underserved women borrowers in India.
● Women, particularly microloan borrowers in semi-urban and rural areas, will benefit from
increased access to finance due to IFC's financing of up to $500 million to HDFC Bank.
.
● HDFC Bank will utilize IFC's financing for on-lending as microloans to Self-Help Groups (SHGs)
and Joint Liability Groups (JLGs) enrolled in the Sustainable Livelihoods Initiative (SLI).
About IFC :
● The International Finance Corporation is an international financial institution that offers
investment, advisory, and asset-management services to encourage private-sector development
in less developed countries.
● The IFC is a member of the World Bank Group and is headquartered in Washington, D.C. in the
United States.
SBI General Insurance Partners with CAMS to Launch Bima Central, a Groundbreaking Policyholder
Servicing Platform
● SBI General Insurance Company Limited, one of India’s top general insurance carriers, has
partnered with Bima Central, built by CAMS Insurance Repository, to launch the industry-first
policyholder servicing platform, Bima Central.
● Functionality of Bima Central:The platform allows consumers to aggregate their insurance
portfolios via an electronic Insurance Account (eIA).
● Users can manage their insurance policies effortlessly through a single digital portal, Bima
Central.
● Unique Feature: For the first time in the market, SBI General Insurance customers with an eIA
through CAMS Rep Bima Central will have immediate access to their insurance portfolio via the
SBI General Insurance Mobile App.
About SBI General Insurance Company Limited :
● Founded : 2009 (started operations in 2010)
● MD & CEO : Kishore Poludasu
● It is a joint venture between the State Bank of India (SBI) and the Insurance Australia Group
(IAG).
Bank of Maharashtra Leads PSU Lenders in Business Growth for FY24
● State-owned Bank of Maharashtra (BoM) recorded the highest growth rate last fiscal in terms of
total business and deposit mobilisation among public sector lenders at a time when most banks
are facing difficulty in achieving double-digit growth.
● The Pune-headquartered lender has registered a 15.94% rise in the total business (domestic) in
.
FY24, followed by the country's largest lender State Bank of India (SBI) with 13.12% growth.
● However, SBI's total business (deposit and advances) was about 16.7 times higher at Rs
79,52,784 crore compared to Rs 4,74,411 crore of Bank of Maharashtra (BoM) in absolute terms.
● Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation, with a
15.66% rise in FY24.
● It was followed by SBI (11.07%), Bank of India (11.05%) and Canara Bank (10.98%).
● Out of 12 public sector banks, only these four lenders could log a double-digit growth in deposits
in the financial year 2023-24.
● In terms of low-cost CASA deposits, the Bank of Maharashtra continued to top the chart with
52.73% growth, followed by the Central Bank of India with a 50.02% rise at the end of March
2024.
● With regard to loan growth, the Kolkata-based UCO Bank was a tad higher at 16.38%, followed
by BoM at 16.30%.
● SBI also reported 16.26% growth in advances in FY24.
● Loan growth of remaining public sector banks was lower than 16% during the fiscal.
● On the asset quality side, the Bank of Maharashtra and SBI reported the lowest gross non-
performing assets with 1.88% and 2.24%, respectively, as of March 31, 2024.
● In terms of net NPAs, BoM and Indian Bank reported the lowest numbers, with 0.2% and 0.43%,
respectively.
● In terms of capital adequacy ratio, the Bank of Maharashtra was leading PSBs at 17.38%,
followed by Indian Overseas Bank at 17.28% and Punjab & Sind Bank at 17.16 at the end of
FY24.
About BoM :
● Established : 16 September 1935
● Headquarters : Pune, Maharashtra
● MD & CEO : Nidhu Saxena
● Tagline : One Family One Bank
Indian Banking Sector Surpasses IT with Net Profit Exceeding ₹3 Lakh Crore in FY24, Up 39% YoY
● India's banking sector achieved a milestone as its net profit surpassed Rs 3 lakh crore for the first
time in FY24.
● The combined net profit of listed public and private sector banks surged by 39%, reaching Rs 3.1
.
lakh crore compared to Rs 2.2 lakh crore in FY23.

● The Rs 3 lakh crore figure is roughly equivalent to the cumulative quarterly profits of all listed
companies during the initial three quarters of the fiscal year.
● Performance of Public Sector Banks (PSBs):Public sector banks achieved a record net profit of
Rs 1.4 lakh crore, marking a 34% rise from the previous year.
● Performance of Private Sector Banks:Private sector banks saw their net profit increase by 42% to
nearly Rs 1.7 lakh crore, up from Rs 1.2 lakh crore a year ago.
● Individual Bank Performance:Punjab & Sind Bank was the only public sector bank out of 12 to
report a drop in profit during the year.
● Comparison with Other Companies: Reliance Industries still holds the highest annual profit of Rs
79,020 crore on a consolidated basis.
● Among the top 10 listed companies, TCS reported a net profit of Rs 43,559 crore for FY24,
followed by Indian Oil (Rs 39,618 crore), ONGC (Rs 38,828 crore), and Infosys (Rs 27,234
crore).
Securities and Exchange Board of India Overhauls Market Cap Calculation Method for LODR
Compliance
● Market regulator Securities and Exchange Board of India (SEBI) has modified the basis for the
computation of market capitalisation of listed companies under its Listing Obligations and
Disclosure Regulations (LODR) regulations.
● As against an earlier practice of determining the applicability of provisions linked to market
capitalisation on a single day’s market cap (currently calculated on March 31), SEBI has now
introduced a concept of ‘average market capitalisation’ for a defined period.
● Determination of Ranking:The ranking will be based on the average market capitalization figures
of listed entities during the preceding six months (July 1 to December 31).
● Reason for Modification:This modification aligns with the recommendations of a SEBI-appointed
expert committee, chaired by former wholetime member S K Mohanty, aiming to facilitate ease of
doing business.
About SEBI :
.

Policybazaar Introduces Claim Assurance Program to Expedite Motor Insurance Claims
● Online insurance marketplace Policybazaar has introduced its 'Claim Assurance Program' to
accelerate the motor insurance claims process.
● The program aims to provide swift and efficient claims support across more than 1000 PIN
codes, targeting both metropolitan areas and tier 2 and 3 regions.
● The initiative is part of Policybazaar's broader strategy to enhance its claims assistance across
all insurance verticals.
About Policybazaar :
● Founded : July 2008
● Headquarters : Gurgaon, Haryana, India
● Founders : Yashish Dahiya, Alok Bansal, Avaneesh Nirjar
● Policybazaar is an Indian insurance aggregator and multinational financial technology company.
● Policybazaar is the flagship subsidiary of PB Fintech Limited., which also owns the credit product
aggregator Paisabazaar.
HDFC Bank Offloads Entire 3.20% Stake in Protean eGov Technologies for Rs 150 Crore via Open
Market Transaction
● HDFC Bank, a private sector lender, sold its entire 3.20% stake in Protean eGov Technologies
for Rs 150 crore through an open market transaction.
● This transaction involved the sale of 12,94,326 shares.
● Nippon India Mutual Fund purchased 12.78 lakh shares, equivalent to a 3.16% stake in Protean
eGov Technologies, for Rs 148 crore.
● This acquisition indicates Nippon India Mutual Fund's interest in investing in the company.
About Protean eGov Technologies :
● Incorporated : December 1995
● Protean eGov Technologies, previously known as NSDL e-Governance Infra, is involved in
developing citizen-centric and population-scale e-governance solutions.
● The company's focus on e-governance solutions indicates its involvement in technology-driven
.
initiatives aimed at enhancing government services and citizen engagement.

About HDFC Bank Limited :
HSBC and Standard Chartered Obtain Stakes in Clearing Corporation of India-IFSC for Real-Time
Foreign Currency Settlement System at GIFT City
● British lenders HSBC and Standard Chartered have acquired stakes in the Clearing Corporation
of India-IFSC (CCIL IFSC), the proposed entity to operate a real-time foreign currency settlement
system at GIFT City.
● Through its branch in GIFT City, HSBC executed transaction documents on May 17, 2024 for the
acquisition of a 6.125% stake in the CCIL IFSC
● HSBC holds similar minority shareholdings in the National Payments Corporation of India and the
Clearing Corporation of India through earlier investments.
● Over the last few months, HSBC, and Standard Chartered Bank - the only two banks to execute
these so far - have been carrying out trades in an offshore derivative instrument (ODI) called
TRS through the GIFT City.
● SBI too acquired a 6.125% stake, while HDFC Bank informed exchanges on May 17 that the
bank has agreed to subscribe to equity shares of face value ₹10 for a consideration aggregating
to ₹ 12.25 crore over two or more tranches.
About HSBC :
● Headquarters : London, England, United Kingdom
● Group Chairman : Mark Tucker
RBI Data Reveals 62% Decline in Net foreign direct investment to $10.5 Billion in FY24
● Net foreign direct investment (FDI) flows into India dropped by 62.17% to $10.58 billion in FY24,
the lowest since 2007, compared to $27.98 billion in the previous year.
● The decline was primarily attributed to higher repatriation of capital and Indian companies’
investments abroad.
● Repatriation and Outward FDI:Out of the $70.9 billion gross FDI flows into India in FY24, $44.4
.
billion was repatriated through dividends, share sale, or disinvestment.

● Additionally, Indians invested $15.96 billion overseas during the same period.
● In FY23, gross FDI flows had been $71.3 billion.
● Of this, $29.3 billion had been repatriated, and India’s outward FDI had stood at $14 billion.
● Sector-wise Distribution:More than 60% of FDI equity flows were directed towards sectors such
as manufacturing, electricity, other energy sectors, computer services, financial services, retail,
and wholesale trade.
● Major Investor Countries:Over 80% of the FDI flows originated from countries such as Singapore,
Mauritius, the US, the Netherlands, Japan, and the United Arab Emirates (UAE).
● Global FDI Trends:The share of global FDI capital expenditure from G20 emerging markets
increased to 14.9% in 2023 from 8.2% in 2003.
About RBI :
RBI Bulletin Warns of Potential Debt Crisis Threatening Global Economic Stability
● A potential debt crisis casts an ominous shadow over the global economic landscape, per an
article in Reserve Bank of India’s (RBI) latest monthly bulletin.
● The International Monetary Fund’s (IMF) Global Debt Monitor reported that total global debt (both
private and public) has risen to $235 trillion, equivalent to 238% of global GDP.
● The article “State of the Economy” by RBI officials highlights concerns about fiscal prudence
possibly being neglected in 2024, as over half the world’s population will be participating in
elections.
RBI Bulletin: Sustainable Alignment with 4% Inflation Target Likely to Resume Only in H2 FY25
● According to an article in RBI’s latest monthly bulletin, A durable alignment with the 4% headline
inflation target is expected to recommence only in the second half of FY25 and sustain until the
numbers are closer to the target throughout 2025-26.
● Current Inflation Trends: The article "State of the Economy" by RBI officials noted a modest
easing of headline inflation to 4.8% in April 2024, down from 4.9% in March 2024, indicating an
uneven alignment with the target.
.
● Inflation Drivers: The prices of vegetables, cereals, pulses, meat, and fish are likely to keep
headline inflation elevated and closer to 5% in the near term.
● Economic Outlook: According to the OECD's latest economic outlook, India is projected to remain
the fastest growing major economy with a GDP growth of 6.6% in FY25.
● Economic Activity Index (EAI): The EAI indicated a rebound in economic activity in April 2024.
● Early estimates suggest that GDP growth for Q1 (April-June) 2024-25 is likely to be close to
7.5%.
Maldives Plans Launch of RuPay to Enhance Bilateral Ties with India
● Maldives intends to launch India's RuPay service, reflecting the strengthening of ties between the
two nations.
● The specific launch date for the RuPay service has not yet been disclosed.
● The upcoming launch of RuPay in Maldives is expected to enhance the value of the Maldivian
currency, the rufiyaa (MVR).
● The move is likely to help Male save almost 50% of the annual $1.5 million import bill from the
two countries.
● In July 2023, the Government of India declared that Maldives was among the 22 countries that
were permitted by the Reserve Bank of India to open Special Rupee Vostro Accounts (SRVAs)
as part of efforts to promote bilateral trade in local currencies.
About RuPay :
● RuPay, developed by the National Payments Corporation of India (NPCI), is India's first domestic
card payment network.
● It is widely accepted at ATMs, point-of-sale (POS) devices, and e-commerce platforms across
India.
About Maldives :
● President : Mohamed Muizzu
● Capital : Malé
● Currency : Maldivian rufiyaa
SEBI Establishes Guidelines to Manage Pricing Impact Following Company Rumor Verifications
● The Securities and Exchange Board of India (SEBI) has issued guidelines for calculating the
"unaffected price" after a listed entity verifies market rumours.
.
● Listed entities are required to verify market rumours upon observing material price movement in
their equity shares.
● Definition of Unaffected Price:The unaffected price is determined by excluding the effect on the
equity share price caused by the material price movement and the confirmation of the rumour.
● Applicability of Framework:The framework for considering the unaffected price will apply to the
top 100 listed entities starting June 1 and to the top 250 listed entities starting December 1.
● Timing of Rumour Confirmation:The unaffected price will only apply if the listed entity confirms
the rumour related to the transaction within 24 hours of the material price movement trigger.
● Validity Period of Unaffected Price:The unaffected price will be applicable for a period of either 60
days or 180 days, depending on the stage of the transaction.
Reserve Bank of India Board Approves Record Rs 2.11 Lakh Crore Surplus Transfer to Government for
FY24
● The Central Board of the Reserve Bank of India (RBI) approved the highest-ever surplus
transfer/dividend of Rs 2.11 lakh crore to the Central government for the accounting year 2023-
24.
● The decision on the surplus transfer was made during the 608th meeting of the Central Board of
Directors of the Reserve Bank of India, held in Mumbai, Maharashtra.
● Economic Capital Framework (ECF):The transferable surplus for the year 2023-24 was
determined based on the Economic Capital Framework (ECF).
● ECF provides a methodology for determining the appropriate level of risk provisions and profit
distribution as per Section 47 of the RBI Act 1934.
● Expert Committee and Recommendations:The ECF was adopted by the Reserve Bank on
August 26, 2019, based on the recommendations of the Expert Committee chaired by Dr. Bimal
Jalan.
● Contingent Risk Buffer (CRB):The Committee recommended maintaining the CRB within a range
of 6.5% to 5.5% of the RBI’s balance sheet to cover monetary, financial stability, credit, and
operational risks.
● Purpose of Contingent Risk Buffer (CRB):The CRB serves as the country’s savings for a financial
stability crisis, consciously maintained with the RBI due to its role as the Lender of Last Resort
(LoLR).
● It is a component of the RBI’s economic capital required to cover monetary and financial stability,
.
credit, and operational risks.

SEBI Relaxes Minimum Promoter Contribution Rules to Facilitate IPO Process
● The Securities and Exchange Board of India (SEBI) has permitted non-promoter shareholders to
contribute towards the shortfall in minimum promoters’ contribution in an initial public offering
(IPO) without being classified as promoters.
● Previous Minimum Promoter Contribution Norms:Previously, SEBI's norms required at least 20%
of promoters' shares to be locked in for a certain period post-listing after an IPO.
● Eligibility for Contribution:Non-promoter shareholders, excluding individuals holding more than
5% of the post-offer equity share capital, can now contribute towards the shortfall.
RBI Increases Gold Reserves by 24 Tonnes in First Four Months of 2024 as Hedge Against Geopolitical
Volatility
● The Reserve Bank of India (RBI) added 24 tonnes of gold to its stock of reserves in 4 months
from January to April, 2024 as a hedge against volatility amid geopolitical tensions.
● This addition is nearly 1.5 times the volume added throughout the entire year of 2023, which was
16 tonnes.
● Total Gold Reserves:As of April 26, 2024, the RBI held 827.69 tonnes worth of gold as part of its
foreign exchange reserves.
● This represents an increase from 803.6 tonnes held as of the end of December.
● Gold's Share in Foreign Exchange Reserves:The share of gold in the total foreign exchange
reserves rose from 7.75% as of the end of December 2023 to approximately 8.7% as of the end
of April 2024.
Reserve Bank of India Injects Rs 7.75 Trillion Liquidity Through 9 VRR Auctions in May, 2024
● The Reserve Bank of India (RBI) conducted a variable rate repo (VRR) auction of Rs 1.25 trillion,
bringing the total liquidity infused through 9 VRR auctions in May, 2024 to Rs 7.75 trillion.
● Banks placed bids worth Rs 11.4 trillion, which is nearly 47% higher than the RBI's notified
amount.
● Auction Details: During the latest VRR auction, the RBI received bids worth Rs 1.39 trillion
against the notified amount of Rs 1.25 trillion.
● Banks borrowed the amount at a weighted average rate of 6.56%.
● Purpose of Repo Auctions: A repo auction is conducted by the central bank to inject liquidity into
the system, allowing banks to obtain liquidity overnight through RBI’s marginal standing facility
.
when interbank liquidity is insufficient.

What is a Liquidity Adjustment Facility?
● A liquidity adjustment facility (LAF) is a tool used in monetary policy, mainly by the Reserve Bank
of India (RBI), which enables banks to borrow money through repurchase agreements (reposals)
or banks to lend to the RBI using reverse repo contracts.
● It was introduced as a part of the outcome of the Narasimham Committee on Banking Sector
Reforms of 1998.
Unclaimed bank deposits more than doubled during pandemic to over Rs 39,000 crore
● According to the data released by the Reserve Bank of India (RBI), As of December 2022,
unclaimed balances across various accounts, including current, savings, and fixed deposits
(FDs), reached Rs 39,900 crore, marking a substantial increase from Rs 18,379 crore recorded
in December 2019.
● By March 2023, unclaimed monies held solely by these banks amounted to Rs 42,270 crore,
despite concerted efforts through technological initiatives and public awareness campaigns.
What are Unclaimed Deposits?
● Balances in savings / current accounts which are not operated for 10 years, or term deposits not
claimed within 10 years from date of maturity are classified as “Unclaimed Deposits”.
● These amounts are transferred by banks to the “Depositor Education and Awareness” (DEA)
Fund maintained by the Reserve Bank of India.
● The depositors are, however, still entitled to claim the deposits at a later date from the bank(s)
where such deposits were held along with interest, as applicable.
● However, despite public awareness campaigns undertaken by banks as well as RBI from time to
time, the amount of Unclaimed Deposit is showing an increasing trend.
● Public sector banks hold the majority share of unclaimed deposits at Rs 33,303 crore,
representing 83% of the total unclaimed funds as of December 2022.
● State Bank of India (SBI) holds Rs 8,069 crore across 2.16 crore unclaimed accounts.
● Similarly, Punjab National Bank (PNB) has seen its unclaimed deposits surge almost fivefold
from 2019, reaching Rs 5,298 crore.
● Among private banks, ICICI Bank holds 31.8 lakh accounts amounting to Rs 1,074 crore in
unclaimed deposits, while HDFC Bank's unclaimed deposits have doubled since 2019, reaching
₹447 crore.
.
● RBI has also instructed banks to undertake regular reviews of large unclaimed amounts and
reach out to such customers.
Reserve Bank of India Imposes ₹3.1 Lakh Penalty on Hero FinCorp for Violating Fair Practices Code
Provisions
● The Reserve Bank of India (RBI) has levied a penalty of Rs 3.1 lakh on Hero FinCorp Limited for
non-compliance with specific provisions concerning fair practices code.
● RBI clarified that the penalty is not a judgement on the validity of transactions or agreements
made by the company with its customers.
● This penalty has been imposed in exercise of powers conferred on RBI under the provisions of
section 58B of the Reserve Bank of India Act, 1934.
National Payments Corporation of India Releases Guidelines for Merchant Acquisition on BHIM Aadhar
Pay
● The National Payments Corporation of India (NPCI) has published guidelines for acquiring banks
to validate merchant details for BHIM Aadhaar Pay.
● BHIM Aadhaar Pay Functionality:BHIM Aadhaar Pay allows merchants to receive digital
payments from customers through Aadhaar Authentication over the counter.
● Merchant Monitoring:An Acquiring Member Bank must monitor its Merchant activity (viz., on-
boarding criteria, transaction monitoring & control, training, assessment of the portfolio metrics,
etc.) periodically.
What is meant by merchant acquirer?
● A merchant acquirer, also known as an acquirer or acquiring/merchant bank, is a financial
institution authorized by major card networks such as Mastercard or Visa to process credit and
debit card transactions for merchants.
● This bank plays a crucial role in the payment processing system, handling the acceptance and
settlement of card transactions on behalf of the merchants.
About BHIM Aadhaar Pay :
● BHIM Aadhaar Pay was launched by the Government of India (GoI) on April 14, 2017, as a
merchant-based mobile application for accepting payments from customers.
● Service Availability:The BHIM Aadhaar Pay service is currently available only in India and
operates 24x7 through merchants.
● Transaction Fees:NPCI does not charge any fees to merchants or customers for transactions
.
made on BHIM Aadhaar Pay.

● Bank Compatibility:BHIM Aadhaar Pay functions only with banks that are live on the BHIM
Aadhaar Pay service.
● Transaction Limits:For AEPS transactions and BHIM Aadhaar pay banks have put a
standardised limit of 5 cash withdrawal per month.
● There is a cap of INR 50,000 on total transactions per month for everyone.
● The maximum withdrawal limit for AEPS cash withdrawals is Rs. 10,000 per transaction.
● Uniformity and Security:While some banks may allow transactions totaling up to INR 50,000 in a
day, the limit of Rs. 10,000 per AEPS cash withdrawal ensures uniformity and security across
different banks.
"Fincare Small Finance Bank Limited" Removed from Second Schedule to RBI Act, 1934; Ceases
Banking Operations
● The Reserve Bank of India (RBI) informed that "Fincare Small Finance Bank Limited" has been
excluded from the Second Schedule to the Reserve Bank of India Act, 1934 with effect from April
01, 2024, as the bank has ceased to carry on banking business with effect from April 01, 2024.
● The RBI approved the merger of Fincare Small Finance Bank Ltd with AU Small Finance Bank
Ltd.
● All branches of Fincare Small Finance Bank started functioning as branches of AU Small Finance
Bank Ltd. from April 1, 2024.
Definition of Scheduled Banks:
● Scheduled banks are listed in the second schedule of the RBI Act, 1934.
● These banks are required to have a minimum paid-up capital of at least Rs 5 lakhs.
Types of Scheduled Banks:
● Scheduled banks include both scheduled cooperative banks and scheduled commercial banks.
● Scheduled commercial banks encompass urban cooperative banks and state cooperative banks
among other non-similar groups.
About Fincare Small Finance Bank Limited :
● MD & CEO : Rajeev Yadav
BharatPe and PhonePe Resolve Long-Standing Trademark Dispute Over 'Pe' Suffix
.
● BharatPe Group and PhonePe Group have amicably settled all long-standing legal disputes
related to the use of the trademark with the suffix 'Pe'.
● The fintechs have been engaged in a legal dispute across multiple courts for the past 5 years.
● Further, both entities will undertake other necessary steps to comply with the obligations under
the settlement agreement in respect of all cases before the Delhi and Bombay High Courts.
Background on BharatPe:
● BharatPe, a brand name of Resilient Innovations, was established in 2018.
● It introduced India’s first UPI interoperable QR code for zero MDR payment acceptance service.
● BharatPe also operates the card acceptance terminal called BharatPe Swipe and has 1.3 crore
registered merchants across over 450 cities.
Background on PhonePe Group:
● PhonePe Group's digital payments app, PhonePe, was launched in August 2016.
● The platform boasts 53.5 crore registered users and a digital payments acceptance network of
3.9 crore merchants..
About BharatPe :
● Founded : 2018
● Chairman : Rajnish Kumar
● CEO : Nalin Negi
● BharatPe is an Indian fintech company that sells digital payment and financial services to small
merchants and Grocery stores.
About Phoepe :
● Headquarters : Bengaluru, Karnataka, India.
● Founder and CEO : Sameer Nigam
Reserve Bank of India Scrutiny Raises Investor Caution in Fintech Sector
● The Reserve Bank of India (RBI) is urging fintech firms towards calibrated growth, leading
investors to adopt a cautious approach.
● In a recent meeting, the RBI instructed lending-focused fintechs to reduce their growth rates.
● Firms growing at over 30% have been advised to limit their growth to 15-20%, as per industry
sources.
.
● Investment Trends:Investment in the fintech segment decreased to $203 million in the first four
months of 2024 from $1572 million a year ago, indicating a more selective investment approach.
● QED Investors' Involvement:QED Investors has invested approximately $150 million in Indian
fintechs, including Jupiter (digital banking platform), FPL Technologies (OneCard credit card
issuer), and OneScore (digital credit score platform).
South African Regulator Imposes Fine on SBI Branch
● The Prudential Authority of the South African Reserve Bank has imposed a financial penalty of
10 million rand (₹4.5 crore) on the State Bank of India's South Africa branch.
● Payment Details:The penalty includes an immediately payable portion of 5.50 million rand, which
has already been paid by the SBI branch in South Africa.
● The remaining 4.50 million rand is suspended for 36 months, conditional on compliance within
this period.
● Reason for Penalty:The penalty was imposed under Section 45C of South Africa's Financial
Intelligence Centre Act 38 of 2001 (FIC Act).
● In 2018, another public sector lender, Bank of Baroda, had wound up its South Africa operations
after being hauled up by authorities for transactions in accounts controlled by the Gupta Brothers.
About South African Reserve Bank (SARB) :
● Established : 30 June 1921
● Headquarters : Pretoria, South Africa
● Governor : Lesetja Kganyago
Burgan Bank Chooses TCS BaNCS for Core Banking Transformation
● Tata Consultancy Services (TCS) has signed a deal to modernize the core banking technology of
Burgan Bank, a leading commercial bank in Kuwait.
● The bank will deploy TCS BaNCS to consolidate multiple standalone legacy applications into a
contemporary universal banking solution that drives innovation and strengthens customer
relationships.
● The TCS BaNCS solution will enable the bank to manage higher transaction volumes, enhance
automation, and improve staff productivity.
● With TCS BaNCS's rich set of APIs, Burgan Bank will provide an integrated solution to its
diversified customer base across corporate, retail, and private banking segments.
.
About Burgan Bank :

● Headquarters : Kuwait City
● CEO : Raed Al Haqhaq
● It is Kuwait's second-largest conventional bank by assets.
About TCS :
● Founded : 1968
● Chairman : Natarajan Chandrasekaran
● CEO : K. Krithivasan
SEBI Expands Scope of Self-Regulatory Organisations for Social Impact Assessors
● The Securities and Exchange Board of India (SEBI) has identified self-regulatory organizations
(SROs) for social impact assessment of entities listed on the Social Stock Exchange (SSE).
● Under the SSE framework, non-profit organisations can raise funds for social causes.
● Current Certification:Individuals qualified by the National Institute of Securities Market and
registered with SRO under the Institute of Chartered Accountants in India can act as social
impact assessors.
● Newly Identified SROs:SEBI has also identified:
➢ ICMAI Social Auditors Organization (ICMAI SAO) under the Institute of Cost Accountants
of India.
➢ ICSI Institute of Social Auditors (ICSI ISA) under the Institute of Company Secretaries of
India.
What is a Social Impact Assessor?
● An individual registered with a self-regulatory organization (SRO) under the Institute of Chartered
Accountants of India or other approved agencies.
● Must have qualified a certification program conducted by the National Institute of Securities
Market (NISM).
What is the social stock exchange?
● SSE is a novel concept in India and it is a separate segment of the existing stock exchange,
which helps social enterprises to garner funds from the public through the stock exchange
mechanism.
.
Eligible Social Enterprises:

● Entities eligible for participation in SSE include non-profit organizations (NPOs) and for-profit
social enterprises.
● Must have social intent and impact as their primary goal.
What Is a Self-Regulatory Organisation (SRO)?
● A self-regulatory organisation (SRO) is an entity such as a non-governmental organisation, which
can create and enforce stand-alone industry and professional regulations and standards
independently.
● An SRO shall be set up as a not-for-profit company registered under Section 8 of the Companies
Act, 2013.
Reserve Bank of India Fines ICICI Bank ₹1 Crore, YES Bank ₹91 Lakh for Regulatory Violations
● The Reserve Bank of India (RBI) imposed a penalty of ₹1 crore on ICICI Bank and fined Yes
Bank ₹91 lakh for non-compliance with regulatory directions.
● ICICI Bank was penalized for non-compliance with certain directions related to 'Loans and
Advances – Statutory and Other Restrictions'.
● Yes Bank faced a penalty for violating norms concerning 'Customer Service in Banks' and
'Unauthorized Operation of Internal/Office Accounts'.
● The penalties were imposed by RBI under the powers conferred by section 47A read with section
46 of the Banking Regulation Act, 1949
About ICICI Bank :
● Established : 5 January 1994
About Yes Bank :
Insurance Regulatory and Development Authority Limits Audit Firms' Engagement with Insurers to 4
Years
● The Insurance Regulatory and Development Authority of India (IRDAI) has reduced the
.
engagement period of statutory auditors with insurance companies from 10 years to 4 years.
● Objective:The updated guidelines are designed to improve corporate governance in the
insurance sector by ensuring regular rotation and independence of audit firms.
● After completing a four-year term, audit firms must observe a mandatory three-year cooling-off
period.
● The new guidelines aim to enhance audit quality by ensuring a fresh review of financial
statements every 4 years, reducing the potential for complacency.
About IRDAI :
SEBI fines IOC, GAIL, ONGC for fourth consecutive quarter over director appointment failures
● Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum
Corporation Ltd (BPCL), Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL), GAIL
(India) Limited, and Mangalore Refinery and Petrochemicals Ltd (MRPL) have been fined for the
4th consecutive quarter for failing to meet listing requirements regarding the number of directors
on their board.
● Stock exchanges imposed a cumulative fine of Rs 34 lakh on these companies for non-
compliance in the March quarter, as per exchange filings.
● Reason for Fines:The fines were imposed because these companies did not have the requisite
number of independent directors or the mandated women director, as required by listing norms.
● Fine Amounts:Each of the companies, except ONGC, faced a fine of Rs 536,900 for the fourth
quarter.
● ONGC's fine amount was Rs 182,900.
SEBI Reduces Commodity Derivatives Delivery Period to 3 Days
● The Securities and Exchange Board of India (SEBI) has reduced the deliverable period for
commodity derivatives to 3 days from the previous 5 days.
● Objective: To improve liquidity in delivery-based commodity derivatives.
.
● The new regulation will be effective from July 1, 2024, for contracts with staggered delivery
scheduled after this date.
● Reason for Change: The decision was based on representations from market participants and
recommendations from the Commodity Derivatives Advisory Committee.
What is the Staggered Delivery Period?
● Staggered delivery is the period before contract expiry when buyers and sellers with open
positions can indicate their intent to give or take delivery.
● All compulsory delivery commodity futures contracts must include a staggered delivery period.
● The SEBI had fixed a minimum duration for the staggered delivery (now 3 days and earlier 5
days) in 2019 after it noticed that different exchanges were following different delivery schedules.
Reserve Bank of India Launches PRAVAAH Portal, Retail Direct App, and FinTech Repository for G-
Secs
● The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, introduced 3 significant
initiatives, namely the PRAVAAH portal, the retail direct mobile app, and a fintech repository.
About PRAVAAH Portal :
● PRAVAAH (Platform for Regulatory Application, VAlidation and AutHorisation) is a secure and
centralised web-based portal for any individual or entity to seek authorisation, license or
regulatory approval on any reference made by it to the RBI.
● Currently, the portal offers access to 60 application forms across various regulatory and
supervisory departments of the RBI.
About Retail Direct Mobile App :
● The Retail Direct Mobile App will provide retail investors seamless and convenient access to the
retail direct platform and provide ease of transacting in government securities (G-Secs).
● The app will enable investors to buy and sell instruments/government securities (Government
Dated Securities, State Development Loans, Treasury Bills and Sovereign Gold Bonds,) on the
go, at their convenience.
About RBI Retail Direct Scheme :
● Launched in November 2021, the RBI Retail Direct Scheme allows individual investors to
maintain gilt accounts with the RBI and invest in government securities.
● Investors can participate in primary auctions and buy/sell securities through the NDS-OM
platform, ensuring direct access to the government securities market.
.
● Convenience and Safety:The scheme aims to provide a safe, simple, and secure platform for
investors to manage their investments conveniently.
● Payments for investments can be made conveniently using a savings bank account through
internet banking or Unified Payments Interface (UPI).
● Non-resident retail investors are also eligible to invest in government securities under the Foreign
Exchange Management Act, 1999.
● The scheme allows investors to start with a minimum investment of Rs. 10,000, with the flexibility
to invest up to Rs. 2 crores per security.
● The scheme covers a broad range of tenures, from 1 year to 40 years, offering investors flexibility
in aligning their investments with their financial objectives.
Launch of FinTech and EmTech Repositories :
● RBI Governor Shaktikanta Das inaugurated a fintech repository aimed at capturing essential
information about FinTech entities, their activities, and technology uses.
● Simultaneously, a related repository focusing on RBI-regulated entities' adoption of emerging
technologies, called EmTech Repository, was also launched.
● Objective of the Repositories:The FinTech Repository and EmTech Repository aim to gather
crucial data about FinTech entities and regulated entities' adoption of emerging technologies.
● These repositories are secure web-based applications managed by the Reserve Bank Innovation
Hub (RBIH), a wholly-owned subsidiary of the RBI.
Capital Market Regulator Securities and Exchange Board of India Establishes Guidelines on
Subordinate Units within Infrastructure Investment Trusts
● The Securities and Exchange Board of India (SEBI) has introduced amendments to the
Infrastructure Investment Trust (InvIT) regulations to permit the issuance of subordinate units by
privately placed InvITs.
● These subordinate units can only be issued to the sponsors, their associates, and the group
upon acquiring an infrastructure project.
● However, the issuance cannot exceed 10% of the acquisition price of the infrastructure project.
● SEBI has designed a framework incorporating risk mitigation measures for subordinate units
within InvITs.
● The total number of outstanding subordinate units within an InvIT cannot surpass a cap of 10%.
● According to SEBI, the minimum time period between the issuance of subordinate units and the
.
entitlement date for reclassification of the subordinate units to ordinary units would be 3 years.
What is Infrastructure Investment Trusts (InvIT)?
● An Infrastructure Investment Trust (InvITs) is a Collective Investment Scheme similar to a mutual
fund, which enables direct investment of money from individual and institutional investors in
infrastructure projects to earn a small portion of the income as a return.
● The InvIT is designed as a tiered structure with Sponsor setting up the InvIT which in turn invests
into the eligible infrastructure projects either directly or via special purpose vehicles (SPVs).
● The InvITs are regulated by the SEBI (Infrastructure Investment Trusts) Regulations, 2014.
Reserve Bank of India Mandates Full-Fledged Money Changers to Maintain Foreign Currency Note
Value at a Minimum 75% of Purchased Value on a Quarterly Basis
● The Reserve Bank of India (RBI) has instructed full-fledged money changers to ensure that the
value of foreign currency notes sold to the public is not less than 75% of the value of such notes
bought from other money changers on a quarterly basis.
● These directions by the RBI are effective from July 1, 2024.
● Purpose of RBI's Directive:To ensure that foreign currency balances held by full-fledged money
changers remain at reasonable levels and to prevent the accumulation of idle balances.
● The RBI's directions have been issued under Section 10(4) and Section 11(1) of the Foreign
Exchange Management Act, 1999 (42 of 1999).
Poonawalla Fincorp Introduces Co-Branded 'IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum
Credit Card'
● Poonawalla Fincorp Limited, in collaboration with IndusInd Bank, has launched the co-branded
'IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card', a card designed to
redefine and elevate the banking experience of customers.
● With this co-branded credit card launch, Poonawalla Fincorp marks a significant milestone in
their ongoing commitment to providing tailored financial solutions to meet the evolving needs of
their customers.
About Poonawalla Fincorp Limited :
● Founded : 1988
● Headquarters : Pune, Maharashtra, India
● Chairman : Adar Poonawalla
.
● Managing Director : Abhay Bhutada

● Nature of Business:Cyrus Poonawalla Group promoted Non-deposit taking systemically
important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of
India (RBI).
● Listing: Listed on both the BSE Limited (BSE) and the National Stock Exchange of India Limited
(NSE).
● Identity: The letter "P" represents Passion, Principles, Purpose, People, and Possibilities
About IndusInd Bank Limited
● Founded: April 1994
● CEO: Sumant Kathpalia
● Tagline: "We care Dil se; we make you feel Richer"
Reserve Bank of India Imposes Business Restrictions on Edelweiss Asset Reconstruction Company
and ECL Finance
● The Reserve Bank of India (RBI) imposed business restrictions on Edelweiss Asset
Reconstruction Company (EARCL) and ECL Finance due to material concerns observed during
supervisory examinations.
● EARCL is barred from acquiring financial assets, and ECL Finance is prohibited from undertaking
structured transactions for its wholesale exposures.
● The action is based on material concerns observed during supervisory examinations, primarily
arising from the group entities’ conduct.
● The structures against the Edelweiss Group companies follow similar measures taken by the RBI
against JM Financial Products and IIFL Finance.
● The RBI also observed that security receipts (SRs) in the case of both ECL and EARCL had
been incorrectly valued.
● The RBI also encountered incorrect reporting to the Central Repository for Information on Large
Credits (CRILC) system.
● Besides, the entities had not adhered to the Know Your Customer (KYC) guidelines by ECL, the
RBI observed.
● In April 2024, Kotak Mahindra Bank was barred from taking on new customers through its online
and mobile banking channels and issuing fresh credit cards due to deficiencies in its IT systems.
.
● Restrictions were also imposed on Bank of Baroda and Paytm Payments Bank.
What is a Security Receipt?
● Security receipts are instruments issued by asset reconstruction companies (ARCs) as
consideration for their purchase of distressed assets from banks/Non-Banking Financial
Companies (NBFCs).
About Edelweiss Asset Reconstruction Company (EARC) :
● EARC is sponsored by Edelweiss, a leading diversified financial services conglomerate in India,
and CDPQ Private Equity Asia Pte Limited (CDPQ).
● EARC specializes in acquiring Non-Performing Assets (NPAs) from banks and financial
institutions.
● The company resolves NPAs through strategies outlined in the Securitization and Reconstruction
of Financial Assets and Enforcement of Security Interests Act, 2002 (SARFAESI).
● EARC operates two distinct business divisions: Wholesale Assets and Retail Assets.
HDFC Bank to Discontinue SMS Alerts for Unified Payments Interface Transactions Below ₹100
● HDFC Bank has informed the customers it will stop sending SMS alerts for any UPI (Unified
Payments Interface) payment spent below Rs 100 or receipt of money less than Rs 500.
● As per the bank, this step will be effective from June 25, 2024.
● From this date, SMS notifications will be pushed only for transactions above Rs 100 (for money
sent/paid) and above Rs 500 (for money received).
● Reason for Change: The decision is due to the high cost of sending bulk messages, which costs
banks a few crores of rupees daily due to the large volume of UPI transactions, averaging around
₹40 crore per day.
What is UPI?
● UPI, or Unified Payments Interface, has become the backbone of digital transactions in India.
● The UPI was introduced in India on April 11, 2016, by Dr Raghuram G Rajan, Governor, RBI at
Mumbai, Maharashtra and developed by the National Payments Corporation of India (NPCI).
● It allows you to instantly transfer money between any two parties’ bank accounts.
● UPI transactions require the authorisation of a Personal Identification Number (PIN), a 4-6 digit
pass code set by the customers as a security measure to ensure safe and approved
transactions.
● For normal UPI the transaction limit is up to Rs 1 Lakh per transaction.
.
● 3 prominent UPI applications are the Walmart-owned PhonePe, Google Pay and Paytm.
● Besides India, the popular digital payment method has spread to seven countries.
● These include Bhutan, France (for e-commerce), Mauritius, Nepal, Singapore, Sri Lanka, and
UAE.
● The share of UPI in digital payments in India has reached close to 80% in 2023.
● India accounts for nearly 46% of the world's digital transactions (as per 2022 data).
About HDFC Bank :
Reserve Bank of India Fines HSBC Rs 36.38 Lakh for Foreign Exchange Management Act Regulation
Violations
● The Reserve Bank of India (RBI) imposed a fine of Rs 36.38 lakh on foreign lender HSBC for
Foreign Exchange Management Act (FEMA) violations.
● The violations pertain to the reporting requirements under the Liberalised Remittance Scheme of
FEMA, 1999, which HSBC did not follow.
What is the Foreign Exchange Management Act (FEMA)?
● The Foreign Exchange Management Act, 1999 (FEMA), is an Act of the Parliament of India "to
consolidate and amend the law relating to foreign exchange with the objective of facilitating
external trade and payments and for promoting the orderly development and maintenance of
foreign exchange market in India"
● This new Act is in consonance with the frameworks of the World Trade Organisation (WTO).
● It also paved the way for the Prevention of Money Laundering Act, 2002 which came into effect
on July 1, 2005.
About HSBC :
● Headquarters : London, England, UK
● Group Chairman : Mark Tucker
● Group Chief Executive : Noel Quinn
Asian Development Bank Pledges $2.6 Billion in Sovereign Loans to India
● The Asian Development Bank (ADB) committed $2.6 billion in sovereign lending to India in 2023
.
for projects that aim to strengthen urban development, support industrial corridor development,
promote power sector reforms, build India’s climate resilience, support horticulture, and enhance
connectivity.
● The loans aim to foster India's structural transformation, job creation, infrastructure
enhancement, green growth, and socioeconomic inclusiveness, and integrate smart technologies
and innovations.
● ADB also extended $23.53 million in technical assistance and $4.1 million in grants under the
sovereign portfolio.
What is Sovereign Debt?
● Sovereign debt is the government debt of a country, a sovereign nation.
● It is also referred to as government debt, national debt, public debt, or country debt.
● The sovereign debt of a country consists of all its debt liabilities to both domestic and foreign
creditors.
About ADB :
Axis Bank Collaborates with Mastercard to Introduce NFC Soundbox
● Axis Bank, in partnership with Mastercard, has introduced the NFC Soundbox, a new payment
solution.
● The NFC Soundbox serves as an all-in-one payment solution, enabling users to accept Bharat
QR, UPI, Tap & Pay, and Tap + Pin payments.
● Axis Bank claims to be the first bank in India to offer a Soundbox capable of accepting Tap + Pin
payments, facilitating transactions exceeding Rs 5000 via card instruments.
About Axis Bank :
.
About Mastercard :
● Founded : 1966
● Headquarters : New York, U.S
AWARDS AND HONOUR

Palestinian journalists covering Gaza awarded 2024 UNESCO/Guillermo Cano World Press Freedom
Prize
• Palestinian journalists covering the Gaza conflict have been named as laureates of the 2024
UNESCO/Guillermo Cano World Press Freedom Prize, following the recommendation of an
international jury of media professionals.
• The ongoing conflict in Gaza is having grave consequences for journalists.
• Since 7 October 2023, UNESCO has condemned and deplored the deaths of 26 journalists and
media workers in the line of work, based on information from its international NGO partners.
Chhattisgarh Activist Alok Shukla to Receive Goldman Prize for Leading Hasdeo Arand Movement
• Alok Shukla, convener of Chhattisgarh Bachao Andolan (CBA), will be awarded the 2024 Goldman
Environmental Prize, also known as the Green Nobel, for his efforts to protect Hasdeo Arand, one
of India's largest contiguous stretches of dense forest spanning 170,000 hectares with 23 coal
blocks.
• Alok Shukla led a successful community campaign that saved 445,000 acres of biodiversity-rich
forests from 21 planned coal mines in the central Indian state of Chhattisgarh.
The Hindu wins three awards at the 6th International Newspaper Design Competition
• The Hindu’s explainer page on Neeraj Chopra’s craft and success, “The science behind Neeraj’s
skills”, published on September 3, 2023, has won three awards at the 6th International Newspaper
Design Competition organised by newspaperdesign.in.
• The Hindu won the ‘Best of show’ award; ‘Gold’ in the ‘Best of Sports Page’ category; and an
award of excellence in the ‘Best of Double Spread’ category.
Author Ruskin Bond receives Sahitya Akademi Fellowship
• Eminent English author Ruskin Bond was awarded the prestigious Sahitya Akademi Fellowship at
Mussoorie.
• Bond was named a recipient of Akademi’s highest honour in September 2021.
.
• However, due to his ill health, he could not be given the honour in person.
• Born on 19 May 1934 in Kasauli, Himachal Pradesh, Bond has been actively writing for more than
50 years and has written in various genres of literature, including short stories, children’s books,
novels, autobiographical works and non-fiction.
Meryl Streep to receive Honorary Palme d’Or at Cannes
• Veteran actor Meryl Streep will receive the honorary Palme d'Or at the opening ceremony of the
77th Cannes Film Festival on 14th May.
• She will also be the guest of honour at the ceremony, which will take place on the stage of the
Grand Theatre Lumiere on 14th May.
• The Hollywood icon, who won the best actress prize at Cannes in 1989, will join the kickoff of the
77th edition at the Grand Theatre Lumiere.
• Meryl is one of the most-feted actors in Hollywood history, with a record 21 Oscar nominations and
three wins.
Pulitzer 2024 winners announced
• The Pulitzer Prizes, administered by Columbia University in New York, garnered attention this
year(2024) amid student demonstrations against the war in Gaza.
• The Pulitzer board conferred awards celebrating excellence in journalism and literary works.
• Among this year(2024)'s winners are publications like The New York Times and ProPublica, along
with authors including Jayne Anne Phillips and Jonathan Eig.
Oxford Bookstore Honors Bhavi Mehta with 9th Book Cover Prize and Reveals Art Book Prize 2024
• Oxford Bookstores announced Bhavi Mehta as the winner of the 9th edition of the Oxford
Bookstore Book Cover Prize at a celebratory event hosted at the India Habitat Centre.
• Mehta won the prize for the book jacket of “The Book Beautiful” published by Hachette India and
authored by Pradeep Sebastian.
• The winner was felicitated with a trophy, certificate and 1 Lakh Indian Rupees cash prize by Dr.
Alka Pande, Museum curator, art historian, author and jury chair; Dr. Shashi Tharoor, well-known
author, politician and Member of Parliament; H.E Ms. May-Elin Stener, Ambassador of Norway to
India, Ms. Anja Riedeberger, Director Information Services South Asia Goethe-Institut / Max
Mueller Bhavan and Mr. Swagat Sengupta, CEO, Apeejay Oxford Bookstores, in the presence of
designers, publishers, artists and literary enthusiasts from the industry.
Assam's Purnima Devi Barman Receives 'Green Oscar' Whitley Gold Award 2024
.
• Dr Purnima Devi Barman won the GBP 1,00,000 Whitley Gold Award from the Whitley Fund for
Nature (WFN), which supports grassroots conservation leaders from around the world, at a Royal
Geographical Society awards ceremony in London
• A wildlife biologist from Assam has been honoured with a leading UK wildlife charity award for her
conservation efforts of the endangered Greater Adjutant Stork and its wetland habitat.
• The Whitley Awards also celebrated six other grassroots conservationists – from Guyana, Papua
New Guinea, Bhutan, Cameroon, Nepal and Brazil – for their
locally-led solutions to the global biodiversity and climate crises.
India to host 'Bharat Parv' at 77th Cannes Film Festival
• India is set to host a 'Bharat Parv' at the 77th Cannes Film Festival for eminent dignitaries and
delegates from around the world to showcase the myriad creative opportunities in the country.
• It will be for the first time that the country will host a “Bharat Parv” at the Cannes Film Festival to
engage with film celebrities, filmmakers, directors, producers, buyers and sales agents from
across the world.
• The official poster and trailer of the 55th India International Film Festival , to be held in Goa on
November 20 to 28, will also be unveiled at the Bharat Parv.
IN-SPACe honoured with Geospatial World Forum Leadership Award
● The Indian National Space Promotion and Authorization Centre (IN-SPACe) has been honoured with
the Geospatial World Forum (GWF) Leadership Award for “Public Policy: Enabling Industry
Development.”
● The award was presented at the 2024 Geospatial World Forum in Rotterdam in a special ceremony.
● The award recognizes IN-SPACe’s contributions to the global geospatial industry through its ground-
breaking work in fostering the growth and development of India’s space sector and support to non-
government entities working in the space economy.
● Dr Pawan Goenka, Chairman, IN-SPACe.
● Since 2007, the awards have celebrated the achievements of over 200 organizations, highlighting
their dedication to advancing geospatial technologies and applications
Pawan Sindhi Honoured With Global Pride Of Sindhi Award 2024
● Pawan Sindhi received the coveted Global Pride of Sindhi Award 2024 on an occasion attended by
renowned saints, Mahatmas, and sadhus.
● The event commemorated Mr. Sindhi's outstanding achievements in society and commitment to
.
serve humanity.
● The Global Pride of Sindhi Award 2024 is a well-deserved distinction for Pawan Sindhi,
acknowledging his remarkable efforts to positively impact society.
Dr Soumya Swaminathan to be awarded honourary doctorate by Canada’s McGill University
● Dr Soumya Swaminathan, most recently WHO’s Chief Scientist, has been named among the 10
exceptional individuals who will receive honorary degrees from Canada's prestigious McGill
University as part of the Spring 2024 Convocation ceremonies.
● In 2017, Swaminathan joined the World Health Organisation (WHO) as Deputy Director General
(Programmes), and, in March 2019, was named its first Chief Scientist, a role she filled through the
Covid-19 pandemic until late 2022.
Chandrakant Satija Honored with Global Excellence Award 2024 for Outstanding Contributions in
Education
● Chandrakant Satija, the Founder and CEO of Chandra Admission Consultants, wins the Global
Excellence Award 2024 for being the “Most Trusted Admission Consultant in Vidarbha Region”.
● Chandrakant Satija, a renowned educationist and the Founder and CEO of Chandra Admission
Consultants was honored with the Global Excellence Award 2024 at a grand event held at Sahara
Star Hotel in Mumbai on May 12th.
● The award was presented to him by the famous Bollywood actress Shilpa Shetty Kundra.
● He was adjudged as the Most Trusted Admissions Consultant in Vidarbha Region.
International Booker Prize 2024 goes to Kairos, a romance amid the fall of the Berlin Wall
● German author Jenny Erpenbeck and translator Michael Hofmann won the International Booker
Prize for fiction for “Kairos,” the story of a tangled love affair during the final years of East
Germany’s existence.
● The International Booker Prize is awarded annually for the finest single work of fiction from
around the world which has been translated into English.
● This prize began life in 2005 as the Man Booker International Prize.
● It was initially a biennial prize for a body of work and there was no stipulation that the work
should be written in a language other than English.
POWERGRID gets global recognition for Learning & Development, receives ATD Best Awards for the
third time
● Power Grid Corporation of India Limited (POWERGRID), a Maharatna Central Public Sector
.
Enterprise under the Ministry of Power, Government of India, has been conferred the prestigious
ATD BEST Awards 2024 for its strategic approach to talent development driving business results.
● The ATD BEST Awards, established by the Association for Talent Development (ATD), USA, is one
of the most esteemed international recognitions in the field of Learning and Development (L&D).
● It honors organizations that leverage talent development as a strategic business tool and
demonstrate enterprise-wide success through effective employee development practices.
● This is the third time POWERGRID has been honoured with the ATD BEST Award, having
previously received it in 2021 and 2023.
● Power Grid Corporation of India Limited is an Indian central public sector undertaking under the
ownership of the Ministry of Power, Government of India. Sh. Ravindra Kumar Tyagi is the Chairman
and Managing Director of Power Grid Corporation of India Limited (POWERGRID)
NTPC gets global recognition for Talent Development, secures 3rd rank at ATD BEST Awards 2024
● NTPC has achieved an impressive milestone by securing the 3rd rank globally at the ATD BEST
Awards 2024, this being the highest ranking among all Indian companies.
● Notably, NTPC is the only PSU to have received this prestigious award seven times in the past eight
years.
● The ATD BEST Awards, established by the Association for Talent Development (ATD), USA, is one
of the most esteemed international recognitions in the field of Learning and Development (L&D).
About NTPC
● NTPC Limited, formerly known as National Thermal Power Corporation, is an Indian central Public
Sector Undertaking under the ownership of the Ministry of Power and the Government of India, who
is engaged in the generation of electricity and other activities.
● CEO: Gurdeep Singh
Sri Sri Ravi Shankar has been awarded the first stamp marking the 200-year anniversary of Indian
Origin Tamils in Sri Lanka.
● Renowned spiritual leader Sri Sri Ravi Shankar received the inaugural stamp commemorating the
200-year anniversary of Indian Origin Tamils (IOT) in Sri Lanka.
● This momentous event took place with the esteemed presence of Governor Senthil Thondaman of
the Eastern Province of Sri Lanka.
India’s Historic Show At Cannes- Payal Kapadia Wins Grand Prix Award For Her Film ‘All We Imagine
As Light’
.
● India’s performance at the 77th Cannes Film Festival has been phenomenal with two filmmakers, an
actress and a cinematographer winning top awards at the world’s leading film festival.
● Palme d'Or Nomination: "All We Imagine as Light" marks the first Indian film nominated in 30 years.
● Grand Prix Win: Kapadia's film secures second place, making history for Indian cinema.
● Alumni Achievement: Payal Kapadia becomes first Indian to win Grand Prix, representing FTII.
● La Cinef Triumph: FTII student Chidananda S Naik wins top prize for "Sunflowers Were the First
Ones to Know."
● Prestigious Tribute: Santosh Sivan honored as first Asian with Pierre Angénieux Tribute award.
● Best Actress Awardee: Anasuya Sengupta makes history with "The Shameless" in 'Un Certain
Regard' category.
● Independent Filmmaker Spotlight: Maisam Ali shines with "In Retreat" screened at ACID Cannes
sidebar.
● Top Honors: Palme d'Or and Grand Prix remain the most coveted prizes at Cannes.
Indian Peacekeeper Major Radhika Sen was Honored with the Military Gender Advocate Award
● Major Radhika Sen, an Indian peacekeeper, receives the prestigious Military Gender Advocate
Award for her exceptional contributions during her deployment with the United Nations Mission in
Congo (MONUSCO).
● UN Secretary-General Antonio Guterres announces the award, lauding Major Sen as "a true role
model" for her outstanding dedication and service.
● Hailing from Himachal Pradesh, Major Radhika Sen served as the commander of the Indian battalion
in the eastern part of the Republic of Congo from March 2023 to April 2024.
● India maintains a significant presence in UN peacekeeping efforts, ranking 11th in contributions of
female military peacekeepers. Major Radhika Sen's recognition adds to India's legacy of
peacekeeping excellence.
● The Military Gender Advocate of the Year Award, presented annually to a peacekeeper nominated
by Force Commanders and Heads of Mission from all peacekeeping operations, highlights Major
Sen's remarkable leadership.
● Major Suman Gawani from India also received this esteemed award in 2019, underscoring India's
enduring commitment to global peacekeeping efforts and bringing honor to the nation.
NHPC receives 'The Economic Times HR World Future Ready Organization Award 2024-25', a
prestigious recognition.
.
● NHPC, India’s premier hydropower company, has been honoured with the esteemed ‘The
Economic Times HR World Future Ready Organization Award 2024-25’.
● This significant accolade underscores NHPC’s steadfast dedication to nurturing a workforce
prepared for the future and its strategic approach to human resource management.
● The award recognizes NHPC’s holistic endeavours in enhancing employee skills, implementing
Environmental, Social, and Governance (ESG) measures, advocating for Diversity, Equity &
Inclusion (DE&I), and embracing continual technological advancements.

Raymond Reappoints Gautam Hari Singhania as Managing Director for Another 5 -Year Term
• Raymond's board of directors approved the reappointment of Gautam Hari Singhania as Managing
Director for another 5 years, starting July 1, 2024.
• Singhania took over the reins of Raymond Limited as chairman and managing director in
September 2000.
• Nawaz Modi-Singhania, Gautam Hari Singhania's estranged wife, was removed from the boards of
three privately held companies within the Raymond Group:
• JK Investors (Bombay) Limited (JKI).
• Raymond Consumer Care Limited (RCCL).
• Smart Advisory and Finserve.
About Raymond Limited :
• Founded : 1925
• Raymond Ltd is the largest integrated manufacturer of fabric in the world.
Sanjaya Kumar Mishra Appointed as Head of GST Appellate Tribunal
• The Appointment Committee of Cabinet (ACC) has approved the appointment of Sanjaya Kumar
Mishra, former Chief Justice of Jharkhand High Court, as the President of the Goods and Services
Tax Appellate Tribunal (GSTAT) for a 4-year term.
• The eligibility criteria was being a judge of the High Court, or serving a retired District Judge or
Additional District Judge with 10 years of combined experience, or Lawyer with 10 years of
experience with substantial experience in litigation in matters relating to indirect taxes.
About Sanjaya Kumar Mishra :
.
• Mishra, 62, is from Odisha and served as a judge in the Uttarakhand High Court and hails from
Odisha.
• He has held positions like District & Sessions Judge in Sundergarh and Dhenkanal, and Special
Judge (CBI) in Bhubaneswar.
• He was also the Registrar General of the Orissa High Court.
• In February 2023, he became the 14th Chief Justice of the Jharkhand High Court.
Subodh Kumar (IAS) Appointed as Director in Ministry of Ayush
• Subodh Kumar (IAS) has been appointed as Director in the Ministry of Ayush.
• The order was issued by the Department of Personnel and Training (DoPT).
• The tenure will continue until October 8, 2024, or until further orders, whichever is earlier.
• He is a 2010-batch Indian Administrative Service (IAS) officer from the Tamil Nadu cadre.
• Prior to this appointment, he was on 'Compulsory wait' in the Ministry of Food Processing
Industries.
About Ministry of Ayush :
• Cabinet Minister : Sarbananda Sonowal
• Minister of State : Mahendra Munjapara
• Secretary : Rajesh Kotecha
RBI Approves Appointment of Sanjeev Nautiyal as Managing Director of Ujjivan Small Finance Bank
• The Reserve Bank of India (RBI) approved the appointment of Sanjeev Nautiyal as Managing
Director (MD) and Chief Executive Officer (CEO) of Ujjivan Small Finance Bank.
• His term will be for three years, effective from 1 July 2024.
• Before taking charge as MD and CEO, Sanjeev Nautiyal will join the bank as President during the
interim period.
• He will succeed Ittira Davis, the current Managing Director and CEO of Ujjivan Small Finance
Bank.
• Sanjeev Nautiyal currently is the independent director of Life Insurance Corporation (LIC) and acts
as an advisory in various organizations.
About Ujjivan Small Finance Bank Limited :
• Part time Chairman : Banavar Anantharamaiah Prabhakar
.
• Tagline : Building A Better Life

• Ujjivan Financial Services holds an 80% stake in Ujjivan SFB.
• The bank is licensed under Section 22(1) of the Banking Regulation Act, 1949, to conduct small
finance bank business.
• It obtained Scheduled Bank status from the RBI in August 2017.
Ujjivan Small Finance Bank Appoints Carol Furtado as Executive Director
• Ujjivan Small Finance Bank has appointed Carol Furtado as executive director for a 3-year term,
effective from May 1, 2024.
• The Reserve Bank of India (RBI) has approved this appointment.
• Furtado has been with Ujjivan Small Finance Bank since its inception, holding significant roles
such as Chief Human Resource Officer, Head of Operations and Service Quality, and Chief
Business Officer (CBO).
• Before joining Ujjivan, Furtado worked at the ANZ group, Bank Muscat, and Centurion Bank Ltd.
About Ujjivan Small Finance Bank Limited :
• Ujjivan Financial Services holds an 80% stake in Ujjivan SFB.
• The bank is licensed under Section 22(1) of the Banking Regulation Act, 1949, to conduct small
finance bank business.
• It obtained Scheduled Bank status from the RBI in August 2017.
Atanu Chakraborty Reappointed as HDFC Bank Chairman for a 3-Year Term
• The Reserve Bank of India (RBI) has approved the re-appointment of Atanu Chakraborty as the
Part-Time Chairman of HDFC Bank for a period of 3 years from May 05, 2024 to May 04, 2027
(both days inclusive)
• Chakraborty served the Government of India for 35 years as a member of the Indian
Administrative Service (IAS) in the Gujarat cadre.
• He was the Secretary of the Ministry of Finance, Department of Economic Affairs (DEA) during the
About HDFC Bank :
.

Jeremiah Manele Takes Oath as New Prime Minister of Solomon Islands
• Jeremiah Manele, a former foreign minister, was elected as the new Prime Minister of Solomon
Islands by the nation's lawmakers.
• He won with 31 votes, defeating his rival Mathew Cooper Wale, who secured 18 votes.
• Manele is the first member of Parliament from Isabel Province to become Prime Minister of
Solomon Islands.
• Manele replaced Manasseh Sogavare, who served 4 terms as Prime Minister (2000-2001, 2006-
2007, 2014-2017, and 2019-2024).
About Solomon Islands :
• Capital : Honiara
• Currency : Solomon Islands dollar
Paytm Money Appoints Rakesh Singh as Chief Executive Officer, Succeeding Varun Sridhar
• Paytm Money, the wholly-owned subsidiary of One97 Communications, has appointed Rakesh
Singh as the new Chief Executive Officer (CEO) after Varun Sridhar resigned from the role.
• Sridhar served as CEO of Paytm Money since 2020 and has transitioned to a different role within
the company.
• Rakesh Singh joined Paytm Money a month before he was appointed CEO.
About Paytm Money :
Bhushan Singh (IRTS) Appointed as Secretary of the National Jute Board
• The Central Government has approved the appointment of Bhushan Singh Indian Railway Traffic
Service (IRTS) as Secretary (at Director level) of National Jute Board, Kolkata under the Ministry of
Textiles.
• According to an order issued from the Department of Personnel and Training (DoPT), Singh has
been appointed to the post for a period of 5 years or until further orders, whichever is earlier.
About National Jute Board :
• Headquarters : Kolkata, West Bengal
• The NJB was established under the National Jute Board Act, 2008 (Act No. 12 of 2009), with its
operations commencing on April 1, 2010.
.
• This formation led to the consolidation of the former Jute Manufactures Development Council and
the National Centre for Jute Diversification into the National Jute Board (NJB).
Sushil Sharma Assigned Additional Role as Chairman & Managing Director of SJVN Limited
• Sushil Sharma has been given the additional charge as Chairman & Managing Director (CMD) of
SJVN Limited for a period of 3 months or until further orders.
• Presently, he is serving as Director (Projects) in the organisation.
About SJVN Limited :
• Headquarters : Shimla, Himachal Pradesh, India
• SJVN, formerly known as Satluj Jal Vidyut Nigam, is an Indian public sector undertaking involved
in hydroelectric power generation and transmission.
• It was incorporated in 1988 as Nathpa Jhakri Power Corporation, a joint venture between the
Government of India (59.92%) and the Government of Himachal Pradesh (26.85%).
Bharat Biotech Co-Founder Krishna Ella Appointed as President of Indian Vaccine Manufacturers
Association
• The Indian Vaccine Manufacturers Association (IVMA) announced Dr. Krishna M Ella, Co-Founder
and Executive Chairman of Bharat Biotech, as the association’s new president for two years from
April 2024-2026.
• He takes over from Adar C. Poonawalla, CEO of Serum Institute of India (SII), who served as
IVMA president from 2019 to 2024.
• Leadership Transition:Under Dr Ella's leadership, the IVMA aims to fortify collaboration between
vaccine manufacturers, researchers, and policymakers to accelerate the development of new
vaccines and improve production processes.
About IVMA :
• IVMA is a non-government, not-for-profit, industry-led, and industry-managed organisation.
• It aims to promote and articulate the views and concerns of the vaccine industry, fostering an
environment conducive to vaccine development and immunisation in India.
• The organisation plays a key role in driving collaboration, research, and public-private partnerships
within the vaccine sector.
Air Marshal Nagesh Kapoor Named Chief of Indian Air Force's Training Command
• Air Marshal Nagesh Kapoor was appointed as the Air Officer Commanding-in-Chief (AOC-in-C)
of the Training Command (TC) for the Indian Air Force (IAF).
.
• Kapoor was commissioned into the Fighter stream of the Indian Air Force on December 6, 1986.
• He is a Qualified Flying Instructor and a Fighter Combat Leader with over 3,400 hours of flying
experience.
• He served as Defence Attaché in Pakistan, showcasing his diplomatic skills.
Kotak Mahindra Bank's Joint Managing Director Manian Resigns After 29 Years with the Bank
• KVS Manian, joint Managing Director (MD) at Kotak Mahindra Bank, has stepped down from his
position with immediate effect.
• He had joined Kotak Mahindra Bank in 1995 and had a 29-year-long career with the bank, during
which he led various divisions, including Consumer, Commercial, Wholesale, and Private
Banking businesses.
• Manian, a whole-time director at the bank, was promoted to the position of joint MD effective
March 1, 2024, after the bank appointed new MD and CEO Ashok Vaswani.
About Kotak Mahindra Bank :
Pro-China Leader Sogavare Withdraws from Solomon Islands' Prime Minister Race
• Solomon Islands Prime Minister Manasseh Sogavare has withdrawn from consideration for
another term as leader after his ruling party failed to win a majority in elections, in a potential blow
to China’s growing ties with the Pacific nation.
• Sogavare was replaced by Foreign Minister Jeremiah Manele as the Ownership, Unity and
Responsibility Party’s candidate for prime minister.
• Sogavare's ruling party won only 15 out of a possible 50 seats in the parliamentary elections held
in April.
About Solomon Islands :
• Capital : Honiara
• Currency : Solomon Islands dollar
Justice Dinesh Kumar Assumes Role as Presiding Officer of Securities Appellate Tribunal
.
• Justice (retired) Dinesh Kumar has been appointed as the Presiding Officer of the Securities
Appellate Tribunal (SAT).
• He will serve a 4-year term after retiring as Chief Justice of the Karnataka High Court in February
2024.
• His appointment fills a 4-month vacancy following the retirement of the previous presiding officer,
Justice Tarun Aggarwal, in December 2023.
About SAT :
• SAT is a statutory and autonomous body created as per provisions of section 15K of the Securities
and Exchange Board of India (SEBI) Act, 1992
Jio Financial Appoints Standard Chartered's Head Kusal Roy as Unit Chief Executive Officer
• Mukesh Amabni’s new financial services company, Jio Finance Limited., is in talks to appoint Kusal
Roy, the current country manager of Standard Chartered Plc India, as the Chief Executive Officer
(CEO) of one of its units.
• KV Kamath was appointed as non-executive chairman before the firm separated from Reliance
Industries, Ambani’s flagship company.
• Additionally, Charanjit Attra was hired from State Bank of India to serve as the chief operating
officer.
About Jio Financial Services :
• Jio Financial Services is an Indian financial services company that was originally a subsidiary of
Reliance Industries (RIL).
• Its subsidiary Jio Finance holds an NBFC license from the RBI.
• Another subsidiary, Jio Payments Bank, is also a payments bank registered in India.
Reserve Bank of India Names R Lakshmi Kanth Rao as Executive Director
• The Reserve Bank of India (RBI) appointed R Lakshmi Kanth Rao as executive director (ED).
• In his role as Executive Director, Shri Rao will oversee several key departments:
• Deposit Insurance and Credit Guarantee Corporation
• Right to Information Act (RTI)
• Department of Communication
Wipro Names Vinay Firake as Chief Executive Officer for Asia Pacific, India, Middle East & Africa
Strategic Market Unit
.
• Wipro, an IT major, has named Vinay Firake as the Chief Executive Officer (CEO) of the Asia
Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU), effective
immediately.
• Mr. Firake will report to Srini Pallia, Wipro's CEO and Managing Director, and will also join
Wipro's executive board.
• Firake succeeds Anis Chenchah, who is stepping down from the role to explore opportunities
outside the organization.
About Wipro :
Vice Admiral Sanjay Bhalla Assumes Role as Indian Navy's Chief of Personnel
• Vice Admiral Sanjay Bhalla, assumes charge as the Chief of Personnel of the Indian Navy.
• He was commissioned in the Indian Navy on 01 Jan 1989.
• In a career spanning 35 years, he has held a number of specialist, staff and operational
appointments, both afloat and ashore.
• He specialised in Communication and Electronic Warfare.
Visa Names Sujai Raina as the New Country Manager for India
• Digital payments platform Visa has appointed Sujai Raina as the country manager for India.
• In addition to his responsibilities as Country Manager, he will continue to lead business
development for Visa in India.
• Raina joined Visa in 2020 and previously served as Vice President and Head of Business
Development, India.
About Visa Inc :
• Headquarters : San Francisco, California, United States
• CEO : Ryan McInerney
.
• Visa Inc is an American multinational payment card services corporation.

John Swinney Set to Succeed Humza Yousaf as Scotland's First Minister
• Scottish National Party (SNP) veteran John Swinney was elected as its new leader and is set to
replace Humza Yousaf as Scotland’s first minister after he emerged as the sole contender in the
contest to pick a new premier.
• He has served as an ally to former First Minister Nicola Sturgeon, holding the position of her
deputy for a record 9 years.
• Born in Edinburgh in April 1964, Swinney joined the SNP at a young age, rising through the party's
ranks quickly.
About SNP :
• Founded : 1934
• The SNP is a Scottish nationalist and social democratic political party.
• The SNP currently holds 43 seats in the UK parliament.
Dr. Mallika Nadda Appointed Chairperson of Special Olympics Asia Pacific Advisory Council for a 3-
Year Term
• Dr. Mallika Nadda, President of Special Olympics Bharat, has been appointed as the chairperson
of the Special Olympics Asia Pacific Advisory Council for a three-year term, effective from May 1,
2024, until March 31, 2027.
• Role in Special Olympics Asia Pacific: As the chairperson of APAC, Mallika Nadda will stand to be
a cohesive voice of the entire Special Olympics Asia Pacific region that runs across 34 countries.
• Nadda would serve as the SO Bharat representative on the APAC where Special Olympics Bharat
enjoys a permanent seat.
About Special Olympics Bharat :
• Founder : Denzil Keelor
• Special Olympics Bharat is a National Sports Federation also registered under the Indian Trust Act
1882 in 2001 and is accredited by Special Olympics International to conduct Special Olympics
Programs in India.
Afghan Consul General Zakia Wardak Resigns in Mumbai Following 'Gold Smuggling' Incident at Airport
• Zakia Wardak, the Consul General of Afghanistan in Mumbai, has resigned from her post.
.
• Her move comes within 10 days after being reportedly intercepted by the Directorate of Revenue
Intelligence (DRI) at the Chhatrapati Shivaji Maharaj International Airport, Mumbai on the charge of
smuggling 25 kgs of gold from Dubai.
• Under the Customs Act, 1962, individuals caught smuggling gold worth over ₹1 crore are subject to
arrest and criminal prosecution.
• Gold worth ₹18.60 crore was recovered from Ms. Wardak.
About Afghanistan :
• Prime Minister : Hasan Akhund
• Capital : Kabul
• Currency : Afghani
Chinese President Xi Appoints Senior Diplomat Xu Feihong as New Ambassador to India
• Chinese President Xi Jinping has appointed Xu Feihong as the new Ambassador to India after a
delay of 18 months.
• Xu's appointment coincides with the ongoing Lok Sabha elections in India.
• The appointment was confirmed by the Chinese Foreign Ministry, despite not being formally
announced in Beijing.
• Xu, previously serving as Ambassador to Afghanistan and Romania, is slated to assume his
responsibilities in New Delhi shortly.
About China:
• Currency: Renminbi
Vijay Kumar Goel (IRSME) Appointed as Director at the Ministry of Development of Northeastern
Region
• Vijay Kumar Goel, an officer from the Indian Railway Service of Mechanical Engineers (IRSME),
has been selected for the position of Director in the Ministry of Development of Northeastern
Region (MDoNER).
• The appointment was made under the Central Staffing Scheme by the Department of Personnel &
Training (DoPT).
• The tenure for this position is 5 years from the date of taking over charge or until further orders,
whichever is earlier.
.
About MDoNER :
• Cabinet Minister : G. Kishan Reddy
• Minister of State : B. L. Verma
B Sudarshan Appointed as Executive Director (Refinery) of Mangalore Refinery and Petrochemicals
Limited
• B Sudarshan has been appointed as the Executive Director (Refinery) of Mangalore Refinery and
Petrochemicals Ltd (MRPL).
• Sudarshan hails from Mysore.
• He joined MRPL on December 3, 1993, as a Senior Engineer (Instrumentation Maintenance).
• He has previously held the esteemed position of Group General Manager (Marketing Projects) and
served as the head of MRPL’s Bengaluru office.
About MRPL :
• Founded : 7 March 1988
• Headquarters : Mangalore, India
• MRPL is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of
Petroleum & Natural Gas.
First Woman IPS Officer, R. Chandranathan Nongrang, Appointed as Meghalaya's Police Chief
● Idashisha Nongrang, a 1992 batch Indian Police Service (IPS) officer, has been appointed as the
Director General of Police (DGP) of Meghalaya, making history as the first woman to hold the
position.
● Nongrang will assume office on May 20, 2024, following the retirement of the current DGP, L.R.
Bishnoi, on May 19, 2024.
● Nongrang, a member of the Khasi tribe — one of Meghalaya’s three major tribal communities is
currently serving as the Director General of Meghalaya Civil Defence and Home Guards.
● Appointment Process : The Meghalaya Security Commission, chaired by Chief Minister Conrad
K. Sangma, oversaw the appointment and selected Nongrang from a list of three candidates
approved by the Union Public Service Commission (UPSC).
● India witnessed its first female state DGP in 2004 when Kanchan Chaudhary Bhattacharya, a
1973 batch IPS officer, was appointed as the DGP of Uttarakhand marking a significant
milestone in the nation’s policing history.
About Meghalaya :
.
● Governor : Phagu Chauhan

● Chief Minister : Conrad Sangma
● Capital : Shillong
● National Parks : Balpakram National Park, Nokrek National Park
Ippopay Appoints Former RBI Regional Director as Senior Advisor
● Chennai-based fintech firm Ippopay Technologies has appointed former Reserve Bank of India
(RBI) regional director SMN Swamy as a senior advisor.
● Swamy, who has held leadership roles across RBI offices in Chennai, Thiruvananthapuram,
Bengaluru, Hyderabad, Ahmedabad and Mumbai over a decade-long career, brings deep
regulatory and banking operations experience to Ippopay.
About Ippopay :
● Incorporated : 2020
● Founder & CEO : Mohan Karupaaiah
● The company focuses on facilitating digital payments for small merchants, with an emphasis on
driving UPI-based transactions in tier III and IV cities as well as rural areas.
Ajitkumar V Sontakke (IOFS) Named Chief Vigilance Officer of Nuclear Power Corporation of India
Limited
● The Appointments Committee of the Cabinet (ACC) has approved the appointment of Ajitkumar
Vasantrao Sontakke (IOFS) as the Chief Vigilance Officer (CVO) of Nuclear Power Corporation
of India Limited (NPCIL) .
● The appointment was made under the Department of Atomic Energy, Government of India.
● The appointment is effective for a period up to May 20, 2027, with a maximum admissible tenure
of 7 years away from the cadre at a stretch, from the date of assuming the charge of the post or
until further orders.
● He is currently serving as Deputy Secretary in the Ministry of Home Affairs.
About NPCIL :
● Founded : September 1987
● The NPCIL is an Indian public sector undertaking.
● It is wholly owned by the Government of India and is responsible for the generation of electricity
from nuclear power.
.
● NPCIL is administered by the Department of Atomic Energy (DAE).

Dilip Sanghani Re-Elected as Indian Farmers Fertiliser Cooperative Chairperson for 2nd Consecutive
Term; Balvir Singh Continues as Vice Chairman
● Senior BJP leader and former cabinet minister Dilip Sanghani has secured his position as the
chairman of the Indian Farmers Fertiliser Cooperative (IFFCO) for the second consecutive term.
● Sanghani's re-election took place during a recent board meeting of IFFCO, where 21 directors
unanimously appointed him as the chairman.
● Dilip Sanghani, hailing from Amreli, has a noteworthy association spanning four decades with
various national and international farmers' organizations.
● Alongside Sanghani's re-election, Balwinder Singh, a farmer leader from Uttar Pradesh, has been
appointed as the vice-chairman of IFFCO.
About IFFCO :
● Headquarters : New Delhi, Delhi, India.
● MD & CEO : Dr. Udai Shanker Awasthi
● IFFCO, is a multi-state cooperative society engaged in the manufacture and marketing of
fertiliser.
Melinda Gates to Resign as Co-Chair of Bill & Melinda Gates Foundation
● Melinda French Gates, one of the world’s preeminent philanthropists, announced that she would
resign as co-chair of the Bill & Melinda Gates Foundation (BMGF) which she has helped lead
since 2000.
● Since its establishment nearly 25 years ago, the BMGF has disbursed nearly $78 billion in grant
payments, reflecting its substantial influence in philanthropy and global development.
● Her last day of work at the foundation will be June 7,2024.
● As part of her separation agreement from her former husband, Bill Gates, she will receive an
additional $12.5 billion for her charitable endeavors.
About Bill & Melinda Gates Foundation :
● Headquarters : Seattle, Washington, United States
● CEO : Mark Suzman
● The BMGF is an American private foundation founded by Bill Gates and Melinda French Gates.
.
● The foundation is one of the most powerful and influential forces in global public health, having
spent more than $50 billion over the past two decades to bring a business approach to
combating poverty and disease.
● Notably, it has played a pivotal role in initiatives to eradicate polio and malaria.
Kanimozhi Re-elected as President of The Hindu Office and National Press Employees' Union for 3rd
Term
● Lok Sabha MP Kanimozhi has been unanimously elected as the president of The Hindu Office
and National Press Employees’ Union for her 3rd consecutive term.
● 5 other office-bearers were also elected unopposed.
● M. Kamalanathan has been elected as the general secretary for the 6th consecutive time.
● Other newly elected office-bearers include R. Arun and S. Vadivel as vice-presidents, C.
Chandran as joint secretary, and N. Balaji as treasurer.
● The following 12 members were unanimously elected executive committee members: B. Rajan
Boopathy, K. Ramesh, J. Kathiresan, V. Aravind Kumar, B. Balavel, R. Girish, M. Sampath
Kumar, K. Gopaal, G. Rajendran, P. Kumaravel, P.S. Venkoba Rao and S.A. Karthikeyan.
● All members will hold their respective offices for a period of 3 years, from 2024 to 2027.
Singapore's Lawrence Wong Takes Oath as New Prime Minister After 2 Decades
● Lawrence Wong has been sworn in as Singapore's new Prime Minister, succeeding Lee Hsien
Loong after his two-decade tenure.
● Lawrence Wong took his oath of office at the Istana government office, officially assuming the
role of Prime Minister.
● The transition of power marks a significant moment in Singapore's political landscape, with
Lawrence Wong becoming only the second person outside of the Lee family to lead the nation.
● Alongside Wong, members of his cabinet were also sworn in, including his predecessor Lee
Hsien Loong, who now serves in the advisory role of senior minister.
● Wong, the 4th prime minister in Singapore's history, must lead the PAP to the next general
elections, which are not due until November 2025 but could be called as early as this year(2024).
About Singapore :
● President : Tharman Shanmugaratnam
● Prime Minister : Lawrence Wong
● Currency : Singapore dollar
.
Corteva Agriscience Names Subroto Geed as New President for South Asia
● Corteva Agriscience, an agriculture solutions company, has appointed Subroto Geed as the
President of South Asia.
● In his role, Geed will lead the South Asia business of Corteva Agriscience, focusing on driving
growth for the company's Seed and Crop Protection businesses.
About Corteva, Inc. (also known as Corteva Agriscience) :
● Founded : 2019
● Headquarters : Indianapolis, Indiana United States
● CEO : Chuck Magro
● It is a major American agricultural chemical and seed company that was the agricultural unit of
DowDuPont prior to being spun off as an independent public company.
Apurva Sahijwani Appointed as Managing Director and Chief Executive Officer of Avendus Wealth
Management
● Avendus Wealth Management announced Apurva Sahijwani as its new Managing Director (MD)
and Chief Executive Officer (CEO).
● Sahijwani brings over 25 years of extensive experience in private banking and wealth
management to his new role.
● Prior to this, he led Burgundy Private, Axis Bank's private banking arm, in his previous position.
About Avendus Group :
● Avendus Group is a prominent financial services firm, focussed on Investment Banking,
Institutional Equities, Wealth Management, Credit Solutions, and Asset Management.
● The company is an advisor to India's Ultra High Net Worth Individuals (UHNIs) and family offices.
● Co-founder & CEO of Avendus : Gaurav Deepak
Senior advocate Kapil Sibal Elected as President of Supreme Court Bar Association
● Senior advocate Kapil Sibal was elected as a president of the Supreme Court Bar Association
(SCBA).
● This is the 4th time Kapil Sibal will serve as the SCBA president.
● His previous terms were during 1995-96, 1997-98, and 2001.
● A total of 2,330 advocates voted out of 2,850 members in the voter list. Sibal received 1,066
votes, Pradeep Rai got 689 votes, and the current president Adish Agarwala received 307 votes.
● Other candidates for the SCBA president post included Priya Hingorani, Tripurari Ray, and
.
Neeraj Srivastava.
● Kapil Sibal will take over from the incumbent president, senior advocate Adish C. Aggarwala.
● Senior advocate Pradeep Rai was the runner-up.
● Advocate Vikrant Yadav was elected SCBA secretary.
About SCBA :
● The SCBA is an Indian bar association, comprising the practising lawyers of the Supreme Court
of India.
Justice Bidisha Banerjee was Designated as Head of Department of NCLT Kolkata Bench by President
Chief Justice Ramalingam Sudhakar
● Justice Bidisha Banerjee has been designated as the Head of the Department (HoD) of the
National Company Law Tribunal (NCLT), Kolkata Bench by the President of NCLT, Chief Justice
Ramalingam Sudhakar.
● Justice Banerjee took charge as HoD after Justice Rohit Kapoor demitted office on May 3, 2024.
● Justice Bidisha Banerjee is the first woman to be appointed as Head of the NCLT Kolkata Bench
and the second woman Judicial Member after Ms. Manorama Kumari.
● She is the 5th HoD of the NCLT Kolkata Bench.
About NCLT :
● The NCLT is a quasi-judicial body in India that adjudicates issues relating to Indian companies.
● The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016
by the government of India and is based on the recommendation of the V. Balakrishna Eradi
committee on law relating to the insolvency and the winding up of companies
Rushabh Gandhi Appointed as New MD & CEO of IndiaFirst Life Insurance
● IndiaFirst Life Insurance’s board has approved the appointment of Rushabh Gandhi as the
managing director (MD) and chief executive officer (CEO) for 5 years effective July 1, 2024, or
the date of regulatory approvals, whichever is earlier.
● The new appointment is subject to the approval of the Insurance Regulatory and Development
Authority of India (IRDAI).
● R M Vishakha, the current MD and CEO of the life insurer, will retire on June 30, 2024.
● He is currently the deputy chief executive officer of the insurer.
About IndiaFirst Life Insurance :
● Headquartered in Mumbai, Maharashtra
.
● IndiaFirst Life Insurance is one of India’s youngest life insurance companies.

David Salvagnini Appointed as National Aeronautics and Space Administration’s 1st Chief Artificial
Intelligence Officer
● The National Aeronautics and Space Administration (NASA) appointed David Salvagnini as the
agency’s first chief artificial intelligence (AI) officer, in an extension of his current role as the chief
data officer.
● Before Salvagnini's appointment, NASA's Chief Scientist Kate Calvin served as the acting
responsible AI official.
Responsibilities :
● Salvagnini will lead NASA's efforts in the responsible use of AI both in space and on Earth,
aiming to benefit all humanity.
● He will align the strategic vision and planning for AI usage across NASA.
● His role includes championing AI innovation, supporting the development, and managing risks
associated with AI tools, platforms, and training.
● In his expanded capacity, Salvagnini will continue NASA’s collaboration with other government
agencies, academic institutions, industry partners, and other experts to ensure the agency is on
the cutting edge of AI technology.
About NASA :
● Headquarters : Washington, D.C, United States
Indian Space Research Organization Chief Somanath Reveals SFO Technologies' Zero Emission
Initiative
● Indian Space Research Organization (ISRO) Chairman and Secretary, Department of Space,
Government of India, S Somanath unveiled the carbon reduction initiative of SFO Technologies,
the flagship company of the NeST Group.
● Besides planting a sapling at the first private SEZ in India, NeST HiTek Park to mark the
occasion, he also unveiled a replica of Chandrayaan at the campus highlighting the cooperation
of SFO Technologies and ISRO.
● The Carbon Reduction initiative of the NeST Group aims to achieve a 50% reduction by 2035
and zero emissions by 2040.
.
● NeST Group Chairman and Managing Director : N. Jehangir

About ISRO :
ITC Chairman Sanjiv Puri, Assumes Role as Confederation of Indian Industry President, Succeeds R
Dinesh
● Sanjiv Puri, chairman and managing director of consumer goods major ITC Limited., has taken
over as president of the Confederation of Indian Industry (CII) for the 2024-25 period.
● He takes over from R Dinesh, Chairman of TVS Supply Chain Solutions.
● Rajiv Memani, Chairman of the India region of EY, has been appointed as the President-
Designate of CII for the year 2024-25.
● R Mukundan, Managing Director and CEO of Tata Chemicals Limited, has taken over as the Vice
President of CII for the 2024-25 period.
About CII :
● Director General : Chandrajit Banerjee
● The CII is a non-governmental trade association and advocacy group.
Taiwan's Ruling DPP's Lai Ching-Te Sworn In As New President
● Lai Ching-te of Taiwan’s ruling Democratic Progressive Party (DPP) has been sworn in as the
self-governing island’s new President.
● Lai succeeds Tsai Ing-wen to lead Taiwan amid increasing threats from China, which claims the
island as its territory.
● Lai Ching-te is the third member of the DPP to assume the office of president.
● He is also the third incumbent ROC (Republic of China) vice president to succeed to the
presidency and the first to assume the office through election instead of immediate succession.
● Taiwan has had an independent government since 1949, separate from the People's Republic of
China.
● Vice President Hsiao Bi-khim was also officially sworn in alongside President Lai.
● She previously served as Taiwan’s de facto ambassador to the US from 2020 to 2023 and held
.
positions as a DPP lawmaker for several terms.

About Taiwan :
● Capital : Taipei
● Currency : New Taiwan dollar
Vedanta Aluminium CEO John Slaven Named Vice-Chairman of International Aluminium Institute
● Vedanta Aluminium announced that its Chief Executive Officer (CEO), John Slaven, has been
appointed as Vice-Chairman of the International Aluminium Institute (IAI).
● In his new role, Slaven will lead global initiatives aimed at promoting the crucial role of aluminium
in enabling the energy transition to zero carbon.
About IAI :
● The IAI is the sole organisation representing the global primary aluminium industry.
● Its mission is to increase awareness of the industry’s operations, advocate for responsible
production, and emphasise the significant environmental benefits of aluminium.
● The IAI’s membership includes the world’s leading bauxite, alumina, and aluminium companies
and maintains extensive global data on the industry, with over 40 years of analysis on production,
consumption, energy use, and environmental impact.
About Vedanta Aluminium :
● Vedanta Aluminium is a leading producer of aluminium, manufacturing 2.37 million tonnes in
FY24.
● It also produces value-added aluminium products that are critical in core industries.
Government Appoints Shri Ramesh Babu V as Member of Central Electricity Regulatory Commission
● Shri Ramesh Babu V. has been appointed as a Member of the Central Electricity Regulatory
Commission (CERC).
● He took the oath of office and secrecy, which was administered by the Union Minister for Power
and New & Renewable Energy, Shri R. K. Singh.
About CERC :
● The CERC was established by the Government of India under the provisions of the Electricity
Regulatory Commissions Act, 1998.
● It serves as the Central Commission for the purposes of the Electricity Act, 2003, which has
replaced the ERC Act, 1998.
.
● The Commission comprises a Chairperson and three other Members, with the Chairperson of the
Central Electricity Authority serving as an ex-officio Member.
Major Functions of CERC:
● CERC regulates the tariff of generating companies owned or controlled by the Central
Government and other generating companies with composite schemes across multiple states.
● It also regulates inter-state transmission of electricity and determines tariffs for inter-state
transmission.
● Additionally, CERC issues licenses for inter-state transmission and trading, adjudicates disputes,
advises the Central Government on national electricity and tariff policies, promotes competition
and efficiency in the electricity industry, and encourages investment in the sector.
To Lam Elected as the New President of Vietnam
● To Lam, the Minister of Public Security, has been approved by Vietnam’s National Assembly as
the country's next President for the 2021-2026 tenure.
● His appointment follows the resignation of former President Vo Van Thuong amid a corruption
crackdown.
● To Lam is the 3rd President of Vietnam in less than 18 months, indicating a period of political
transition in a country known for its stable politics.
● He is considered the third most powerful figure in Vietnam, following the Party Chief and the
Prime Minister.
● Other Key Appointments:Tran Thanh Man, 61, was nominated as the new Chairman of the
National Assembly, succeeding Vuong Dinh Hue.
● The party also appointed four new politburo members.
● Vietnam's Leadership Structure:Consists of four key positions: the Communist Party General
Secretary, the President, the Prime Minister, and the Head of the National Assembly.
About Vietnam :
● Prime Minister : Phạm Minh Chính
● Capital : Hanoi
● Currency : Vietnamese đồng
Vice Admiral Gurcharan Singh was Appointed as Commandant of the National Defence Academy
● Vice Admiral Gurcharan Singh assumed the appointment of Commandant, National Defence
Academy (NDA) from Vice Admiral Ajay Kocchar.
.
● An alumnus of the National Defence Academy (Khadakwasla), he was commissioned into the
Indian Navy on 01 July 1990.
● As a specialist in Gunnery and Missiles, he has served onboard Indian Naval Ships Ranjit and
Prahar.
About NDA :
● Location : Khadakwasla, Pune, Maharashtra, India
● The NDA is the joint defence service training institute of the Indian Armed Forces, where cadets
of the Indian Army, Indian Navy, and Indian Air Force train together before they go on to their
respective service academy for further pre-commission training.
Air India appoints Sanjay Sharma as chief financial officer
● Air India announced the appointment of Sanjay Sharma as the Chief Financial Officer (CFO) with
effect from June 10, 2024.
● Sharma will succeed Vinod Hejmadi, who is retiring after more than three decades with Air India.
● Sanjay Sharma will report directly to Air India's CEO and MD, Campbell Wilson
About Air India :
● Founded : 15 October 1932 (Commenced operations-29 July 1946)
● Chairman : N. Chandrasekaran
● MD & CEO : Campbell Wilson
● Air India is the flag carrier airline of India.
● It is owned by Air India Limited, a Tata Group enterprise and operates a fleet of Airbus and
Boeing aircraft serving 102 domestic and international destinations.
World Economic Forum Founder Klaus Schwab to Step Back from Executive Role
● Klaus Schwab, Founder and Executive Chairman of the World Economic Forum (WEF), will step
down from day-to-day management and take up the role of Chairman of the Board of Trustees by
January 2025 after over 50 years of leadership.
● The leadership transition will be completed before the next Davos gathering in January 2025.
● Purpose of Transition: This move is part of a planned "governance evolution" aimed at
transitioning the WEF from a founder-managed organization to one where the president and the
managing board assume full executive responsibility.
About World Economic Forum :
.
● Headquarters : Cologny, Canton of Geneva, Switzerland

● President : Børge Brende
● Origins: Founded in 1971 by Klaus Schwab as the European Management Forum.
● The WEF is an international advocacy non-governmental organization and think tank.
● The forum is best known for its annual gathering of political and business leaders in Davos,
Switzerland.
● It was initially designed as a place for European business leaders and government officials to
gather and discuss increasing their competitiveness with the UUS.
● WEF's Recent Themes and Initiatives:WEF's theme for 2023 annual conference was
"Cooperation in a Fragmented World," emphasizing the need for global leaders to address
economic, energy, and food crises while fostering sustainability.
Appointments Committee of Cabinet Approves One-Month Extension for Chief of Army Staff General
Manoj Pande Until June 30, 2024
● The Appointments Committee of Cabinet (ACC) approved a one-month extension for Chief of the
Army Staff (COAS) General Manoj C. Pande.
● The extension is beyond his normal age of superannuation (May 31, 2024) and extends his
service up to June 30, 2024, under Rule 16 A (4) of the Army Rules 1954.
● General Pande attained the age of 62 on May 6, 2024 and was originally due to retire on May 31,
2024.
● Extensions of service for Army chiefs are rare.
● An example is the extension of Army chief General G G Bewoor's term in the 1970s, which some
believe prevented Lt General P S Bhagat from becoming the new Army chief.
● General Bewoor was succeeded by General T N Raina.
● Norms for Army Chief Appointment:Typically, the most senior Army commander or the Army vice
chief is appointed as the Army chief upon the retirement of the serving COAS.
● The Army chief retires either after completing 3 years in the appointment or on reaching the age
of 62, whichever comes first.
.
Saudi Arabia Appoints Faisal bin Saud Al-Mejfel as First Ambassador to Syria Since 2012
● Saudi Arabia appointed Faisal bin Saud Al-Mejfel as its ambassador to Syria, marking the
kingdom's first envoy to Damascus since the closure of the Saudi embassy in 2012 during the
Syrian civil war.
● Riyadh severed ties with Damascus in 2012 during the Syrian civil war.
● Faisal al-Mujfel's appointment comes over a year after Syria was readmitted to the 22-member
Arab League.
About Saudi Arabia :
● Prime Minister : Mohammed bin Salman Al Saud
● Capital : Riyadh
● Currency : Saudi riyal
About Syria :
● President : Bashar al-Assad
● Prime Minister : Hussein Arnous
● Capital : Damascus
● Currency : Syrian pound
Andhra Native Jaya Badiga Appointed as Judge in US County Superior Court
● Indian-American attorney Jaya Badiga, a certified family law specialist, has been appointed as a
Judge in the Sacramento County Superior Court in the US state of California.
● Badiga, born in Vijayawada, Andhra Pradesh, is the first Telugu woman to be appointed as a
judge in the United States.
● Governor Gavin Newsom of California made the appointment, filling the vacancy left by the
retirement of Judge Robert S. Lapham.
● Raj Singh Badhesha of Fresno County was also appointed as a Judge in the Fresno County
Superior Court by Governor Newsom.
● Badhesha, a Democrat, fills the vacancy created by the retirement of Judge Jon N. Kapetan.
● Badhesha is the 1st Sikh to be appointed to the Fresno County bench and the 1st Sikh judge in
California who observes the practice of wearing the Sikh headdress known as the dastar or pagri.
About Sacramento County Superior Court :
.
● Location : Sacramento
● The Superior Court of California, County of Sacramento, alternatively called the Sacramento
County Superior Court, is the California Superior Court located in Sacramento with jurisdiction
over Sacramento County.
French Automaker Citroen Appoints MS Dhoni as Brand Ambassador in India
● French automaker Citroen has appointed former India cricket captain Mahendra Singh Dhoni as
its brand ambassador in India.
● Dhoni will mark his debut innings with Citroen in a campaign that will soon go live.
About Citroën :
● Citroën is a French automobile brand.
● The "Automobiles Citroën" manufacturing company was founded in 4 June 1919 by André
Citroën.
Reserve Bank of India Approves Appointment of PK Sinha as Part-time Chairman of ICICI Bank
● The Reserve Bank of India (RBI) has granted its approval for the appointment of Pradeep Kumar
Sinha as the Part-time Chairman of ICICI Bank. for a term of 3 years, starting from July 1, 2024.
● Pradeep Kumar Sinha will step into the position vacated by G. C. Chaturvedi, who is due to retire
as Non-Executive Part-time Chairman on June 30, 2024, at the close of business hours.
About ICICI Bank :
Cabinet Committee Extends Tenure of DRDO Chief Dr Samir V. Kamat by One Year Until May 31, 2025
● The Appointments Committee of Cabinet (ACC) approved a one-year extension in service for Dr.
Samir V Kamat, Secretary of the Department of Defence R&D and Chairman of DRDO, extended
his term to May 31, 2025, beyond his normal retirement date of May 31, 2024.
● Dr. Kamat has been in his current position since August 2022, succeeding Dr. G. Satheesh
Reddy, who became the Scientific Adviser to the Defence Minister.
About ACC :
● Formed : January 26, 1950
.
About DRDO :
● The DRDO is an agency under the Department of Defence Research and Development in the
Ministry of Defence of the Government of India (GoI).
P K Tripathi Appointed as Secretary of Lokpal & R K Goyal Named as Secretary of Department of
Justice
● Senior bureaucrat Pradip Kumar Tripathi has been appointed as the Lokpal Secretary as part of
a secretary-level reshuffle effected by the Centre.
● Tripathi, a 1987-batch Indian Administrative Service officer (IAS), is currently Secretary
(Coordination) in the Cabinet Secretariat.
● Border Management Secretary Raj Kumar Goyal has been appointed as Secretary, Department
of Justice under the Ministry of Law & Justice.
● Rajendra Kumar, Director General of Employees’ State Insurance Corporation (ESIC), will be the
Border Management Secretary in place of Goyal.
Other Appointments:
● Amit Yadav: New Delhi Municipal Council (NDMC) chairperson Amit Yadav has been named as
Officer on Special Duty in the Department of Social Justice & Empowerment.
● Rakesh Ranjan: Rakesh Ranjan, currently serving as Special Secretary in the Department of
Agriculture and Farmers Welfare, has been appointed as Chairman of the Staff Selection
Commission (SSC).
About Lokpal :
● Established : 19 March 2019
● Chairperson : Ajay Manikrao Khanwilkar
● Motto : Do not be greedy for anyone's wealth
● A Lokpal is an anti-corruption authority or body of ombudsman who represents the public interest
in the Republic of India.
● The term "Lokpal" was coined by Dr. L.M.Singhvi in 1963.
Santosh Desai joins Nykaa's Board as Independent Director
.
● FSN E-Commerce Ventures, known as Nykaa, has appointed Santosh Desai as an Independent
Director on its board, effective from July 15, 2024.
● The appointment is for a period of 3 years, subject to shareholder approval.
● Currently, Desai serves on the boards of Think9 Consumer Technologies, Dainik Jagran Group,
and Breakthrough.
About Nykaa :
● Executive chairperson, founder, and CEO : Falguni Nayar
● Nykaa is an Indian e-commerce company, sells beauty, wellness and fashion products through
its website, mobile app, and over 100 physical stores.
● Nykaa’s current board of directors comprises 10 members.
National Asset Reconstruction Company Board Recommends P Santhosh for MD & CEO Role
● The board of the National Asset Reconstruction Company (NARCL) has proposed P Santhosh
for the position of managing director (MD) and chief executive officer (CEO) of the state-owned
bad bank.
● Santhosh's recommendation is for a 3-year term.
● Santhosh has been serving as NARCL's acting CEO since January, stepping into the position
after N Sundar's unexpected departure before the end of his term.
● According to media reports, NARCL had acquired 18 accounts with outstanding loans totaling
₹92,500 crore as of March 31, 2024.
● Among the acquired assets is the ₹32,000-crore debt of bankrupt Srei Infrastructure Finance and
Srei Equipment Finance, both acquired under the insolvency and bankruptcy process.
About NARCL :
● Chairman : Mr. Diwakar Gupta
● Formation: Incorporated in July 2021 as a 'bad bank' to address stressed assets of commercial
banks.
● Regulatory Status: Registered with the Reserve Bank of India as an Asset Reconstruction
Company under the Securitisation and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002.
● Scope: Initial focus on handling stressed assets worth Rs 2 lakh crore from commercial banks.
.
● NARCL is the only ARC that makes offers under the 15:85 structure wherein 15% of the
consideration is cash and the balance 85% is security receipts (SR).
● The government provides guarantees for any shortfall in recovery, with SRs worth ₹30,600 crore
guaranteed, accessible if redemption falls short.
Procter & Gamble India Names Mrinalini Srinivasan as Chief Financial Officer
● Procter & Gamble Hygiene and Health Care, one of P&G India’s listed entities that includes
brands like Vicks and Whisper, announced the appointment of Mrinalini Srinivasan as the
company’s chief financial officer (CFO) effective June 29, 2024.
● Srinivasan will succeed Prashant Bhatnagar, who is stepping down after nearly 28 years of
service with the company.
About Procter & Gamble Hygiene :
● Procter & Gamble Hygiene is one of India’s fastest growing Fast-Moving Consumer Goods
(FMCG) companies with a strong presence in the health and personal care sector.
Ministry of Home Affairs Grants 3-Month Extension to Delhi Chief Secretary Naresh Kumar's Tenure
● The Ministry of Home Affairs (MHA) approved the extension of Delhi Chief Secretary Naresh
Kumar's tenure by 3 months.
● Naresh Kumar's retirement, which was originally scheduled for the end of May 2024, has been
postponed until August 31, 2024.
● The extension is granted by invoking Rule 3 of AIS(CS-RM) Rules, 1960, relaxing Rule 16(1) of
AIS (DCRB) Rules, 1958.
About Ministry of Home Affairs :
● Cabinet Minister : Amit Shah
● Minister of State : Nityanand Rai, Nisith Pramanik, Ajay Kumar Mishra
Sony Pictures Networks India Appoints Disney’s Gaurav Banerjee as New Chief Executive Officer,
Succeeding NP Singh
● Sony Corporation appointed Gaurav Banerjee as the new CEO of its India unit, Sony Pictures
Networks India (SPNI), replacing NP Singh, who resigned after 25 years with the company.
● Banerjee previously worked at Disney Star, where he oversaw content for Hindi entertainment
and Disney+ Hotstar, and served as the business head for Star Bharat, as well as Hindi and
English movies, kids & infotainment, and regional (east) channels.
● Sony operates 26 channels in India, covering general entertainment, sports, and movies, and
.
also runs a streaming service.

About Sony Pictures Networks India (SPNI) :
● Culver Max Entertainment Private. Limited., trading as Sony Pictures Networks India (SPN or
SPNI), is an Indian media conglomerate owned by Sony Pictures Television.
About Sony Group Corporation :
● Headquarters : Kōnan, Minato, Tokyo, Japan
● Chairman & CEO : Kenichiro Yoshida
MOUS AND AGREEMENT

THDCIL-UJVNL Joint Venture TUECO Signs MoU with Nagar Nigam Haridwar for Waste to Green
Energy Plant
• In a significant move towards sustainable development, THDCIL-UJVNL Energy Company Limited
(TUECO), a collaboration between THDC India Ltd. & UJVN Ltd., has sealed a Memorandum of
Understanding (MoU) with Nagar Nigam Haridwar to establish a Waste to Green Energy Plant,
valued at Rs. 140 crores.
• This transformative initiative aims to convert 400 Tons Per Day of Municipal Solid Waste into 140
Tons of Green Charcoal.
India-UK logistic exchange agreement fosters historic visit of UK Royal Navy vessels to Chennai
• The UK’s maritime prowess took centre stage as the Littoral Response Group (LRG) made its
inaugural stop in Chennai on March 26, 2024, marking the commencement of its deployment to the
Indian Pacific region.
• Comprising the Royal Fleet Auxiliary (RFA) Argus and RFA Lyme Bay, the LRG engaged in
maritime exercises with the Indian Navy upon entering the Arabian Sea.
• The vessels underwent essential maintenance at the Larsen & Toubro shipyard in Kattupalli near
Chennai.
• Notably, this marks the first instance of a Royal Navy vessel undergoing maintenance at an Indian
shipyard, an outcome of the logistics-sharing agreement inked between the UK and India in 2022.
NHPC Limited to collaborate with a Norwegian company for implementation of Floating Solar Energy
.
Technology in India
• NHPC Limited, the largest organization for hydropower development in India, has signed a
Memorandum of Understanding with M/s Ocean Sun, a Norwegian company operating as a
technology provider to the floating solar industry.
• As per the MoU, NHPC and Ocean Sun will explore key areas of cooperation for the demonstration
of Ocean Sun’s floating solar energy technology based on photovoltaic panels.
• The panels would be mounted on hydro-elastic membranes, at relevant sites to be identified by
NHPC.
• The agreement is in continuation of efforts towards sustainable development and addition of
renewable energy capacity by NHPC, which is engaged not only in hydropower development but
also in various renewable energy projects such as solar, wind and green hydrogen projects.
Tata Motors ties up with South Indian Bank for commercial vehicle finance
• Tata Motors has tied up with South Indian Bank to offer financing solutions to its commercial
vehicle customers and dealerships.
• As part of the Memorandum of Understanding (MoU), South Indian Bank will offer financing
solutions across the auto major's entire commercial vehicle portfolio.
• For our customers, easy access to financing solutions for their commercial vehicles is one of the
key priorities for their operations.
• Our alliance aims to empower fleet owners and dealerships to achieve their business goals.
RailTel signs MoU with tech firm for KAVACH implementation projects
• The railways inked an agreement with a tech firm for "exploring and delivering" train collision
avoidance system KAVACH implementation projects in India as well as other countries,
according to a statement.
• The Memorandum of Understanding (MoU) for this purpose was signed between RailTel
Corporation of India Limited and Quadrant Future Tek Limited.
India, New Zealand look to boost collaboration in pharma, digital trade, payment systems
• India and New Zealand are looking to increase collaboration in goods and services sectors like
pharmaceuticals, digital trade, and cross-border payment systems to promote bilateral trade.
• Issues to promote trade through these collaborations were discussed during the recent visit of
Commerce Secretary Sunil Barthwal to New Zealand from April 26-27.
• Deliberations also included increasing cooperation in kiwi fruit as well as the dairy sector.
.
Tata Power Renewable Energy signs pact with SJVN for 460 MW clean energy project
• Tata Power Renewable Energy Ltd (TPREL) has signed an agreement with state-owned SJVN Ltd
to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project.
• An FDRE plant enables round-the-clock power supply, assisting power distribution companies
(discoms) in fulfilling their Renewable Purchase Obligations (RPOs) and Energy Storage
Obligations (ESOs).
• The plant is expected to generate nearly 3,000 million units (MUs) of power and offset 2,200
million kgs of CO2 emissions annually.
About SJVN
• SJVN, formerly known as Satluj Jal Vidyut Nigam, is an Indian public sector undertaking involved
in hydroelectric power generation and transmission.
• It was incorporated in 1988 as Nathpa Jhakri Power Corporation, a joint venture between the
Government of India and the Government of Himachal Pradesh.
India, Nigeria to finalise Local Currency Settlement System Agreement
• India and Nigeria have agreed to an early conclusion of a local currency settlement system
agreement to further strengthen economic ties between the two countries.
• According to the Department of commerce, a seven-member delegation from India led by
Additional Secretary in the Commerce Ministry Amardeep Singh Bhatia visited Abuja, Nigeria for
the second session of India-Nigeria Joint Trade Committee (JTC) on April 29-30.
• It was held after a gap of five years.
• These countries include Belarus, Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia,
Mauritius, Myanmar and the United Kingdom.
• Nigeria is India's 2nd largest trading partner in Africa.
India's first Astro Tourism Campaign: Uttarakhand Tourism announces 'Nakshatra Sabha'
• The Uttarakhand Tourism Development Board has joined hands with Starscapes, a leading astro-
tourism company, to introduce Nakshatra Sabha, a new initiative to provide a comprehensive Astro
Tourism experience to people.
• The campaign will offer a range of activities, including stargazing, special solar observations,
astrophotography contests, camping under the stars, and more.
• Scheduled to kick off in early June at George Everest in Mussoorie, Nakshatra Sabha will continue
until mid-2025, featuring a series of immersive events at various locations across Uttarakhand.
.
China signs MOU with Airbus to deepen aviation cooperation

• China's state planner signed a memorandum of understanding (MOU) with Airbus (AIR.PA), opens
new tab on deepening aviation cooperation.
• President Xi Jinping and his French counterpart President Emmanuel Macron released joint
statements and reached interdepartmental agreements on several areas including artificial
intelligence, the Middle East and agriculture during his trip to France.
• China has historically signalled large jet orders timed to coincide with state visits, but the
negotiations between Airbus and China's CASC buying agency are likely to go down to the wire
and are not guaranteed to result in a deal, the people said.
INOX Air Products and Asahi India Glass sign MoU for Green Hydrogen
• INOX Air Products, a manufacturer of industrial and medical gases, has signed a Memorandum of
Understanding (MoU) with Asahi India Glass Limited (AIS) for a 20-year offtake agreement to
supply green hydrogen to AIS’s greenfield float glass facility in Soniyana, Chittorgarh, Rajasthan.
• The company stated that this will be India’s first-ever green hydrogen plant for the float glass
industry.
• The plant will have a capacity to generate up to 190 tonnes of green hydrogen per annum through
the electrolysis process.
Indian Coast Guard Partners With Jindal Steel & Power For Indigenous Marine Steel Supply
• Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a memorandum of
understanding (MoU) in New Delhi for the supply of indigenous marine-grade steel to enhance the
local content in shipbuilding.
• Through this partnership, both entities have committed to fostering indigenisation, enhancing
capabilities to produce and use these items in the nation’s interest.
• The MoU underscores the importance of public-private partnerships in addressing complex
security challenges, emphasising the need for collaboration between government agencies and the
private sector.
About ICG
• The Indian Coast Guard is a coast guard of India with jurisdiction over its territorial waters including
its contiguous zone and exclusive economic zone.
• It was formally established on 1 February 1977 by the Coast Guard Act, 1978 of the Parliament of
India. It operates under the Ministry of Defence.
.
• Rakesh Pal- Director General of the Indian Coast Guard.

India-Moldova Visa Waiver Agreement for holders of diplomatic and official passports
• India and Moldova signed an agreement which after coming into force, will allow diplomatic and
official passport holders of either country to travel to the other without a visa.
• This agreement will add "further momentum" to the friendly and cordial relations between the two
countries.
• Shri Pavan Kapoor, Secretary (West), Ministry of External Affairs of the Republic of India and
H.E. Mrs. Ana Taban, Ambassador Extraordinary and Plenipotentiary of the Republic of Moldova,
on behalf of their respective governments, signed an agreement on visa waiver for diplomatic
and official passports, on 10 May 2024.
About Moldova
• Capital: Chișinău,
• Currency: Moldovan Leu.
Government Inks MoU With Mahindra Group To Skill 500 Women In Drone Operation
• The Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of
Understanding (MoU) with Mahindra & Mahindra Ltd to conduct two Pilot Projects under the
Drone Didi Yojana.
• Launched earlier this year(2024), the scheme aims to train 15,000 women to operate drones for
agricultural purposes such as fertilising the crop, monitoring crop growth and planting seeds,
thereby creating new livelihood opportunities for women through imparting skills in new
technology areas.
• Under this partnership, MSDE and M&M will conduct two Pilot Projects at the National Skill
Training Institute (NSTI), situated in Hyderabad and Noida, to skill 500 women in exclusive
batches of 20 women each.
ICG signs MoU with private sector for manufacturing & supply of indigenous marine-grade aluminium
for construction of ships
• Indian Coast Guard (ICG) and Hindalco Industries inked a Memorandum of Understanding (MoU)
in New Delhi for the manufacturing and supply of indigenous marine-grade aluminium to Indian
public and private shipyards for the construction of ships.
• The MoU will also provide benefits such as quarterly pricing, priority in supplies and Turnover
discount.
.
• The ICG fleet is presently operating 67 ships with aluminium hull with capability of operating in
shallow waters.
About ICG
• The Indian Coast Guard is a coast guard of India with jurisdiction over its territorial waters
including its contiguous zone and exclusive economic zone.
• It was formally established on 1 February 1977 by the Coast Guard Act, 1978 of the Parliament
of India. It operates under the Ministry of Defence.
• Rakesh Pal - Director General of the Indian Coast Guard.
About Hindalco
• Hindalco Industries Limited an Indian aluminium and copper manufacturing company, is a
subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India.
Uttar Pradesh government plans to promote agri startups, introduce AI in farming
• The Uttar Pradesh government has partnered with the agriculture industry to bolster agri startups
and introduce artificial intelligence (AI) in farming to boost the rural economy and ‘smart farming’
practices.
• The Yogi Adityanath government is also planning to host a global farmers’ summit ‘Krishi Bharat’
in November 2024 in association with the Confederation of Indian Industry (CII).
Krishikalpa in partnership with NABARD launches programme for farmers
• Krishikalpa, a not-for-profit organisation for farmer producer organisations (FPOs) has launched
an accelerator program in collaboration with the National Bank for Agriculture and Rural
Development (Nabarad) with an aim to support 30 FPOs distributed across Karnataka.
• The program comprises two FPOs with revenue exceeding ₹1 crore, ten FPOs generating
between ₹50 lakh to ₹1 crore, another ten FPOs with revenue ranging from ₹10 lakh to ₹50 lakh,
and eight FPOs generating between up to ₹10 lakh, per Krishikalpa.
IFFCO ties up with Marut Drones for DaaS; to service five lakh acres in AP, Telangana
• The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has signed an agreement with Marut
Dronetech Private Limited to launch Drone-as-a- Service (DAAS) operations in Andhra Pradesh
and Telangana.
• One of the key components of this tie-up is the creation of demand for rural entrepreneurs who
have already invested in drone technology.
Kochi Metro Rail Ltd partners with Google Wallet for ticketing ease
.
• Google and Kochi Metro Rail Limited have announced their partnership between Google Wallet
and KMRL in enhancing the digital ticketing options for metro users.
• The integration of services between Google Wallet and KMRL is powered by Prudent
Technologies.
• The arrival of Google Wallet in India marks an important milestone in Android’s India journey,
bringing innovative and convenient experiences to simplify peoples’ daily lives.
About Google
• Founders: Larry Page, Sergey Brin
• Parent organization: Alphabet Inc.
• CEO: Sundar Pichai (2 Oct 2015–)
• CMO: Lorraine Twohill
• Founded: 4 September 1998, Menlo Park, California, United States
Greenko firm inks deal with Norwegian co
● Hyderabad-based Greenko has entered into an agreement with Norway’s Yara Clean Ammonia for a
10 year pact to supply renewable ammonia to the Norwegian firm, which is the world’s largest trader
and distributor of ammonia.
● Greenko will supply green ammonia from Phase 1 of its ammonia production facility in Kakinada,
India.
● The company signed the term sheet through its green ammonia production arm AM Green -- earlier
Greenko ZeroC.
● This translates to a supply of 500,000 tonnes of green ammonia over a decade, beginning the fourth
quarter of calendar year 2026.
● Yara Clean Ammonia is headquartered in Oslo, Norway.
● It operates the largest global ammonia network with 15 ships and has, through Yara, access to 18
ammonia terminals and multiple ammonia production and consumption sites across the world.
UAE-India CEPA Council and Indian Chamber of Commerce Forge Strategic Partnership
● To enhance economic and trade relations, the UAE-India CEPA Council (UICC) and the Indian
Chamber of Commerce (ICC) have signed a Memorandum of Understanding (MoU).
● The main aim is to promote awareness of the UAE-India bilateral economic partnership and the
benefits of the UAE-India CEPA.
● The MoU established a comprehensive collaboration between the UICC and the ICC, focusing on
.
public promotion, and increasing awareness.

● This partnership will boost trade volumes and bring the benefits of favourable trade policies to
enterprises.
Bharti Airtel communications and Google Cloud to deliver cloud solutions to India
● Bharti Airtel announced a long-term collaboration with Google Cloud to deliver cloud solutions to
Indian businesses.
● Airtel will also leverage Google Cloud’s generative artificial intelligence capabilities to transform its
customer experiences and interactions across mobile, broadband, and digital television.
● These capabilities will be extended to the telecommunications company's business-to-business
customers in India and globally.
About Bharti Airtel :
● Chairman : Sunil Bharti Mittal
● MD & CEO : Gopal Vittal
About Google Cloud Platform :
● Launched : April 7, 2008
● CEO : Thomas Kurian
● GCP, offered by Google, is a suite of cloud computing services that provides a series of modular
cloud services including computing, data storage, data analytics, and machine learning,
alongside a set of management tools.
FICCI, IESA sign contract to foster innovation in the semiconductor industry
● The Federation of Indian Chambers of Commerce and Industry (FICCI) and the India Electronics
and Semiconductor Association (IESA) have signed a Memorandum of Understanding to promote
innovation, support the semiconductor and electronics industry, and strengthen supply chains.
● The MoU, signed on April 14, establishes a framework for long-term collaboration between the two
organisations.
● This collaboration will focus on establishing a joint task force on semiconductors and future critical
technologies.
Pine Labs ties up with largest bank in Dubai, set to offer payment solution
● Indian merchant payment company Pine Labs has partnered with Emirates NBD, one of the major
.
banks in the Middle East, North Africa and Turkey (MENAT) region to deploy its payment solutions
to the bank's business clients.
● Emirates NBD will offer Pine Labs' newly launched credit issuing platform to deliver merchant
acquiring solutions for its corporate and institutional clients, initially in the United Arab Emirates, then
across the Kingdom of Saudi Arabia and Egypt.
● These solutions will enable the bank’s clients to improve their digital payment solutions for both
online and in-store payments.
About Pine Labs
● Pine Labs is an Indian company that provides point-of-sales systems and payment systems.
● Founded in 1998.
● B Amrish Rau, CEO, Pine Labs.
India and Zimbabwe agree to extend regulatory cooperation in digital transformation solutions
● The delegates of India and Zimbabwe held the third session of the India-Zimbabwe Joint Trade
Committee (JTC) in Delhi.
● During the session, both sides reviewed the bilateral trade and noted the vast potential that exists
between the two countries.
● India and Zimbabwe have agreed to explore an opportunity to ink a pact for regulatory cooperation in
tele-medicines, rough diamonds, and fast payment systems.
About Zimbabwe
● Zimbabwe is a landlocked country in southern Africa known for its dramatic landscape and diverse
wildlife,
● Capital: Harare,
● Currency: United States Dollar.
Indian Oil signs second long-term LNG deal with France's Total Energies
● Indian Oil Corporation Ltd signed a long-term contract with French energy giant TotalEnergies in
France for supply of LNG (liquefied natural gas).
● Under the contract, TotalEnergies would supply 1 million metric tonne per annum (mmtpa) of LNG to
IOCL for a period of around 10 years.
● This is the second long-term contract between the two companies in the past one year.
● Around the same period last year, the public sector refining and marketing major also signed an
agreement with Abu Dhabi National Oil Company (ADNOC) for the supply of 1.2 mmtpa of LNG
.
starting 2026.
● Chairperson: Shrikant Madhav Vaidya, Headquarters: New Delhi.
DRDO to collaborate with IIT Bhubaneswar for AI-driven surveillance, other projects
● Defence Research and Development Organisation (DRDO) will collaborate with the Indian Institute
of Technology (IIT) Bhubaneswar for artificial intelligence (AI) driven surveillance and other projects .
● A meeting was held between DRDO and IIT Bhubaneswar officials recently.
● During the meeting, nine sanctioned projects of the ECS Cluster of DRDO were handed over to IIT
Bhubaneswar while another 7 projects are in the process to be sanctioned with Rs 18 crore funding.
India inks 10-year deal to operate Iran's Chabahar port
● India signed a 10-year contract with Iran to develop and operate the Iranian port of Chabahar, the
Narendra Modi-led government said, strengthening relations with a strategic Middle Eastern nation.
● India has been developing the port in Chabahar on Iran's south-eastern coast along the Gulf of
Oman as a way to transport goods to Iran, Afghanistan and central Asian countries, bypassing the
port of Karachi and Gwadar in its rival Pakistan.
● U.S. sanctions on Iran, however, slowed the port's development.
● The long-term deal was signed between Indian Ports Global Limited (IPGL) and the Port & Maritime
Organisation of Iran, authorities in both countries said.
● Under the agreement, IPGL will invest about $120 million while there will be an additional $250
million in financing, bringing the contract's value to $370 million, said Iranian Minister of Roads and
Urban Development Mehrdad Bazrpash.
● IPGL first took over operations of the port at the end of 2018 and has since handled container traffic
of more than 90,000 TEUs and bulk and general cargo of more than 8.4 million tonnes
Amazon India to bring tribal artisans from Visakhapatnam on its e-commerce marketplace
● Amazon India announced signing a Memorandum of Understanding (MoU) with Visakhapatnam
Forest Tribals to help tribal artisans from Visakhapatnam sell authentic handcrafted products to a
global audience via its e- commerce platform.
● The key focus of the tie-up is to offer visibility and enable revenue generation through the forest
produce manufactured by the tribals through listing on Amazon, thereby generating job
opportunities.
● Launched in 2017, the Amazon Karigar program enables small businesses and specialized
micro-entrepreneurs like weavers, artisans, and artisans to benefit from e-commerce, grow their
.
businesses.
DAHD and UNDP signs MoU on Digitalization of Vaccine Cold Chain Management, Capacity Building,
and Communication Planning
● The Department of Animal Husbandry & Dairying (DAHD), Ministry of Fisheries, Animal
Husbandry & Dairying signed a memorandum of understanding (MoU) with the United Nations
Development Programme (UNDP) on digitalisation of vaccine cold chain management, capacity
building, and communication planning.
● India is the most populous country in the world with 142.86 Crore people,53.57 Million farm
animals and 85.18 Million poultry.
● The vaccine cold chain management process will be monitored with the help of new age
technology and artificial intelligence through the Animal vaccine Intelligence Network (AVIN)
developed by UNDP.
● Notably, UNDP and DAHD will jointly work on Strengthening Animal Health with One Health
approach at centre.
● The United Nations Development Programme (UNDP) was set up by the United Nations in 1965
by merging the United Nations Expanded Programme of Technical Assistance with the United
Nations Special Fund.
Tata Steel signs grid agreement to make its UK project green
● Tata Steel has signed an agreement with National Grid Plc's Electricity System Operator to build
the power infrastructure required to switch its Port Talbot site to a green steel project.
● The deal will see the British grid operator build the new electrical framework capable of powering
the Indian company's 3.2 million-ton electric arc furnace by the end of 2027.
● Last year, the UK agreed to pay up to £500 million ($635 million) to help Tata Steel overhaul the
country's biggest steelworks and keep it running - one of several hefty subsidies to persuade
companies to stay in Britain.
India, UK agree to deepen counter-terror cooperation
● India and the UK strongly condemned terrorism in all its forms including the cross-border
movement of terrorists and emphasised the need for strengthening international cooperation to
combat the menace comprehensively.
● The challenge of terrorism and ways to deal with it figured prominently at the 16th meeting of the
India-UK joint working group on counter-terrorism that took place in Delhi
.
● The Indian delegation at the talks was headed by KD Dewal, joint secretary for counter terrorism
in the MEA.
● Chris Felton, the head of the counter terrorism network for Asia and Oceania of the UK, led the
British delegation.
Reliance's agreement with Norway's Nel to speed up new energy investments
● Reliance Industries Ltd (RIL) has signed an agreement with Norway's Nel ASA to source
technology for producing green hydrogen.
● This move is part of billionaire Mukesh Ambani's strategic shift toward green energy.
● RIL entered into a technology licensing agreement with Nel ASA.
● This agreement grants RIL an exclusive license to use Nel's alkaline electrolysers in India and
permits RIL to manufacture these electrolysers for its own use globally.
● Nel ASA holds a 10-15 percent global market share in electrolysers, with deliveries of 350MW to
400MW expected in 2023-2024.
New WIPO Treaty on Genetic Resources Disclosure
● Members of the World Intellectual Property Organization (WIPO) have agreed that patent
applicants must disclose the country of origin or source of genetic resources if their inventions
are based on these materials or associated traditional knowledge.
● The treaty will provide additional protection for Indian genetic resources and traditional
knowledge, which are currently vulnerable to misappropriation in countries without disclosure
obligations.
● Presently, only 35 countries have some form of disclosure obligations, often non-mandatory.
● WIPO is a specialized United Nations agency based in Geneva, established in 1967.
NSDC and ILO sign MoU to advance skill development and lifelong learning
● The National Skill Development Corporation (NSDC) and the International Labour Organization
(ILO) join forces under the Ministry of Skill Development & Entrepreneurship (MSDE) to bolster
skill development and lifelong learning initiatives in India and beyond.
● This partnership empowers individuals worldwide by providing them with essential competencies
and qualifications, fostering employability and sustainable economic growth.
● The Memorandum of Understanding (MoU) was inked by Shri Ved Mani Tiwari, CEO and MD of
NSDC, and Mr. Sangheon Lee, Director of the Employment Policy, Job Creation, and Livelihoods
Department at ILO.
.
About the International Labour Organization (ILO)

● Established in October 1919 under the League of Nations, the ILO stands as one of the UN's
oldest and first specialized agencies,
● Headquartered in Geneva, Switzerland.
OpenAI signs content deal with NewsCorp for AI training
● News Corp has partnered with OpenAI to revolutionize news dissemination through AI
technologies.
● This collaboration will allow OpenAI to utilize both current and archived news content from News
Corp’s extensive portfolio over several years.
● Sam Altman-led OpenAI has signed content and product partnerships with The Atlantic and Vox
Media, helping the artificial intelligence firm to boost and train its products.
CET, IIT Madras bag patent for inventing a non-intrusive voltage measuring device
● The Indian Institute of Technology Madras (IIT Madras) and the College of Engineering
Thiruvananthapuram (CET) have achieved a significant breakthrough in electrical measurement
technology.
● Their collaborative efforts have resulted in a patented device capable of measuring voltage
without physical contact, marking a substantial advancement in the field of electrical engineering.
● The Indian Patent Office has granted a patent for the project titled "An instrumentation system
with a fully non-intrusive probe for AC voltage measurement.
What is a Contactless voltage measurement device?
● A contactless voltage measurement device, also known as a non-contact voltage tester (NCVT),
is a tool designed to detect electrical voltage without requiring direct contact with conductors.
● They are capable of distinguishing between alternating current (AC) and direct current (DC)
power and operate by detecting changes in electromagnetic fields. Advanced features in NCVTs
enable users to adjust sensitivity levels for precise detection of electronic devices.
PERSON IN NEWS
Gopi Thotakura Makes History as 1st Indian Space Tourist on Blue Origin’s Private Astronaut Launch
● Indian expatriate Gopi Thotakura made history as he became the first Indian space tourist and
the second Indian to venture into space as part of the crew for Amazon founder Jeff Bezos' Blue
Origin's NS-25 mission.
.
● The Blue Origin successfully completed its 7th human spaceflight and the 25th flight for the New
Shepard program.
● Andhra-born Gopi Thotakura was a part of the crew among five other crew members.
List of other Crew Members :
1. Ed Dwight: Former Air Force aviator, became the oldest person in space at 90 years old.
2. Mason Angel: Founder of Industrious Ventures.
3. Sylvain Chiron: Spearheaded Brasserie Mont Blanc, a craft brewery in France.
4. Kenneth L. Hess: Software engineer and entrepreneur.
5. Carol Schaller: Retired Certified Public Accountant (CPA).
● Note : Wing Commander Rakesh Sharma, a former Indian Air Force pilot, was the first Indian
citizen to fly to space in 1984.
● Blue Origin’s 7th human flight, NS-25, lifted off from Launch Site One in West Texas .
● To date, Blue Origin has facilitated the journey of 31 individuals aboard the New Shepard, a
compact and fully reusable rocket system named in homage to Alan Shepard, the first American
in space.
About New Shepard :
● New Shepard is a fully reusable sub-orbital launch vehicle developed for space tourism by Blue
Origin.
● It is named in homage to Alan Shepard, the first American in space, and is designed to transport
astronauts and research payloads beyond the Karman line.
America's First Black Astronaut Candidate, Ed Dwight, Becomes Oldest Person to Reach Space
● Ed Dwight, a 90-year-old artist and former Air Force test pilot who was denied a chance to
become the first African American astronaut six decades ago, finally rocketed into space, fulfilling
a cherished dream in a brief up-and-down flight out of the lower atmosphere.
● President John F. Kennedy initially chose Ed Dwight, an Air Force pilot, to be the candidate for
NASA's inaugural Astronaut Corps.
● The Soviets launched the first black astronaut, Arnaldo Tamayo Mendez, a Cuban citizen of
African descent, 3 years before NASA selected its first black astronaut.
● Prior to Ed Dwight, "Star Trek" actor William Shatner held the record as the oldest person to go
into space in 2021.
.
● Ed Dwight became the new record holder for the oldest person in space after his quick trip from
West Texas.
ACQUISITION AND MERGERS

State Bank of India Receives Government Approval to Exit YES Bank
• The State Bank of India (SBI) has received government approval to divest its entire 25.02% stake
in YES Bank, following the end of a lock-in period in March 2024.
• SBI is likely to sell its stake in YES Bank via a block deal, a common method for selling large
volumes of shares.
• The block deal could be valued between Rs 5,000 crore and Rs 7,000 crore, with no taxes
applied to the sale.
About SBI :
Carlyle Group Sells 2% Stake in YES Bank for Rs 1,441 Crore through Open Market
• Carlyle Group divested nearly a 2% stake in private sector lender Yes Bank for Rs 1,441 crore
through an open market transaction.
• US-based Carlyle Group, through its affiliate CA Basque Investments, offloaded shares in Yes
Bank through a bulk deal on the National Stock Exchange (NSE).
• CA Basque Investments sold 59.4 crore shares, amounting to a 1.98% stake in Yes Bank.
• After the stake sale, the Carlyle Group’s shareholding in Yes Bank has declined to 7.13% from
9.11%.
About The Carlyle Group Inc :
• Founded : 1987
• CEO : Harvey Schwartz
• The Carlyle Group Inc. is a multinational private equity, alternative asset management and
financial services corporation.
About YES Bank :
.
• Founded : 2004
• Tagline : Experience Our Expertise
KKR to Acquire India's Healthium Medtech from Apax Partners for Rs 7,000 Crore ($838.60 Million)
• Global investment firm KKR announced acquiring Bengaluru-based medical devices company
Healthium Medtech from an affiliate of funds advised by private equity firm Apax Partners.
• The acquisition is valued between Rs 6,500 crore and Rs 7,000 crore (around $839 million).
• A special-purpose vehicle owned by KKR-managed funds will acquire a controlling interest in
Healthium Medtech.
• Regulatory Approvals and Timeline: The transaction is subject to regulatory approvals and is
expected to close in the third quarter of the calendar year 2024.
About Healthium MedTech :
• Founded in India : 1992
• CEO : Anish Bafna
• Healthium is the 4th-largest surgical suture manufacturer in the world with a market share of about
18% in India.
• It is present in more than 90 countries.
TVS Holdings to Purchase 80.74% Stake in Home Credit India for ₹554 Crore
• TVS Holdings Limited (TVSH), Premji Invest, and other associates will collectively acquire a
100% equity stake in Home Credit India Finance Private Limited for a total consideration of ₹680
crore.
• TVSH will purchase 80.74% stake from Netherlands-based Home Credit India B.V. and Czech
Republic-based Home Credit International A.S. for ₹554 crore, while the remaining 19.26% stake
will be acquired by Premji Invest and other associates.
• Upon signing a sale and purchase Agreement, TVS Holdings and Home Credit will seek
approvals from the Competition Commission of India (CCI) and the Reserve
Bank of India (RBI), respectively.
About TVS Holdings Ltd :
• Founded : 1962
.
• MD : Sudarshan Venu
Vedanta to Complete Full Acquisition of Japanese Display Glass Major AvanStrate
• Billionaire Anil Agarwal-led Vedanta Limited has acquired an additional 46.57% stake in
Japanese display major AvanStrate Inc for $78.3 million through its wholly owned subsidiary,
Cairn India Holdings Ltd.
• With this acquisition, Vedanta's total holding in AvanStrate has risen to 98.2%.
• The transaction is expected to be completed by June 2024.
• Vedanta had previously acquired a controlling stake in AvanStrate in 2017 for $158 million.
About AvanStrate Inc :
• Headquarters : Tokyo, Japan
• It is a leading manufacturer of glass substrates primarily used in the production of electronic
devices such as televisions, laptops, smartphones, tablets, wearables, and other electronic
displays.
• It has production facilities in Taiwan and Korea.
Reserve Bank of India Permits Quant Mutual Fund to Increase Stake in RBL Bank to 9.98%
● The Reserve Bank of India (RBI) has allowed Quant Mutual Fund to hike its stake in RBL Bank to
9.98%.
● As of May 10,2024 Quant MF, through its various schemes, owned 4.68% equity share capital in
the private sector lender.
● The approval granted on Monday is subject to certain conditions and provisions under the
Banking Regulation Act, 1949, among others.
● The shareholding has to be increased by May 12, 2025.
About RBL Bank :
● Founded : 1943
● MD & CEO : R. Subramania kumar
● RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private-sector bank.
India's Khanij Bidesh Set to Procure Lithium Asset in Australia in FY25
● Khanij Bidesh India Limited (KABIL) is in the process of acquiring a lithium block in Australia this
year(2024).
● KABIL is owned by three public sector undertakings - National Aluminium Company Ltd (Nalco),
.
Hindustan Copper Ltd (HCL), and Mineral Exploration and Consultancy Ltd (MECL).
● Recently, the Registered Office of KABIL has been inaugurated in New Delhi.
● Lithium is the most important mineral for the energy transition.
● It is a fundamental part of lithium-ion batteries, which power electric vehicles and battery energy
storage systems.
● Australia is one of the leading producers of Lithium and Cobalt.
About Australia :
● Prime Minister : Anthony Albanese
● Capital : Canberra
Life Insurance Corporation of India Shares Jump 6% Following SEBI's Extension of Deadline to Meet
Minimum Public Holding Requirements Until May 2027
● The Securities and Exchange Board of India (SEBI) has granted the State-owned Life Insurance
Corporation of India (LIC) an additional 3 years until May 2027 to comply with minimum public
shareholding norms.
● Following the announcement, LIC's shares witnessed a significant surge of more than 6%,
reflecting investor optimism.
● The revised timeline for the Corporation to achieve 10% public shareholding is on or before May
16, 2027.
● Post LIC’s May 2022 IPO, the government of India owns 96.50% of the insurer.
● The decision aligns with Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957,
which mandates achieving 10% public shareholding within 5 years from the date of listing.
● As per SEBI norms, LIC was required to achieve 10% public shareholding within two years of
listing in the capital market.
About LIC:
● Chairman : Siddhartha Mohanty
Reserve Bank of India Greenlights Appointment of Mr. Pradeep Natarajan as Whole Time Director of
IDFC FIRST Bank Limited
● The Reserve Bank of India (RBI) has granted approval for Pradeep Natarajan to assume the
.
position of Whole Time Director at IDFC FIRST Bank Limited.

● As per the RBI's directive, Natarajan will serve as the bank's Executive Director for the 3-year
tenure in this pivotal role.
● CEO: V. Vaidyanathan
institution.
Shriram Finance to Divest Housing Finance Unit to Warburg Pincus for Rs 4,630 Crore
● Shriram Finance, the largest auto-focused non-bank lender, has agreed to sell its entire 85%
stake in its housing finance subsidiary to Warburg Pincus for Rs 4,630 crore.
● The decision marks Shriram Finance's exit from the housing finance sector after 13 years of
operations.
● The Shriram Group, founded by industry veterans Ramamurthy Thyagarajan, AVS Raja and T
Jayaraman in April 1974, had invested Rs 665 crore so far into the company and is exiting with a
hefty profit.
● The parent Shriram Finance, which is mainly into commercial vehicle financing, owns 84.82% in
the housing finance arm, while 14.94% stake is held by the San Francisco-based private equity
player Valiant, which will also completely exit the group and Warburg will snap them up.
SBI Acquires 6.125% Stake in CCIL IFSC, Enhances Presence in GIFT City
● State Bank of India (SBI) has executed transaction documents to acquire a 6.125% stake in CCIL
IFSC Limited for ₹6.125 crore.
● CCIL IFSC will be incorporated with an authorised capital of ₹200 crore and paid-up capital of
₹100 crore.
● It will operate the foreign currency settlement system and act as a clearing house and system
operator at the International Financial Services Centre (IFSC) within the Gujarat International
Finance Tec City (GIFT City).
● The indicative period for completing the transaction, which involves acquiring 61.25 lakh equity
shares at ₹10 each, is up to six months from the date of execution of transaction documents.
ICICI Bank to Acquire Small Stake in New Entity to be Established in GIFT-IFSC
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● ICICI Bank has entered into a memorandum of understanding (MoU) in relation to an investment
in the equity shares of a company to be incorporated (Target Entity) as a subsidiary of The
Clearing Corporation of India (CCIL) along with seven (7) other shareholders.
● Post investment, ICICI Bank will hold 6.125% shareholding in the Target Entity through the
acquisition of 6,125,000 equity shares of face value Rs 10 each.
● The Target Entity, to be incorporated in GIFT-IFSC, will set up and operate the Foreign Currency
Settlement System (FCSS) and act as a clearing house and system operator for the same.
About ICICI Bank :
Disney to Sell 30% Stake in Tata Play to Tata Group, Valuing Company at $1 Billion
● Walt Disney Co has sold its minority stake in Tata Play to Tata Group, indicating a strategic shift
in its focus.
● Disney aims to concentrate on merging its Indian unit with Mukesh Ambani’s media arm,
highlighting the importance of strategic alliances and mergers in the media industry.
● The transaction valued Tata Play Limited. at approximately $1 billion, showcasing the valuation
process involved in corporate transactions.
● As per the deal, Tata Group takes full control of the TV platform after buying the 29.8% stake
from Disney.
About Tata Play :
● Tata Play was incorporated in 2001- a joint venture between Tata Group and TFCF Corp.
● The company provides pay television via set-top boxes and over-the-top video streaming through
its app, as per Tata Sons’s website.
● Tata Group raised its stake in Tata Play to over 70% after buying out Temasek Holding Pte’s
stake earlier this year(2024). .
● Temasek first invested in Tata Sky, as it was known at the time, in 2007.
Google to Acquire Minority Stake in Flipkart in New Funding Round
● Internet major Google has proposed an investment of around $350 million (about Rs 2,900 crore)
to buy a minority stake in e-commerce company Flipkart during a fresh funding round.
● Funding Round Details:Flipkart is raising $1 billion in its ongoing funding round.
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● Valuation:As of January 31, 2024, Flipkart was valued at $35 billion based on equity transactions
conducted by its parent firm Walmart.
● Walmart's Shareholding:In FY24, Walmart increased its shareholding in Flipkart by 10% to
approximately 85% by investing $3.5 billion.
About Google :
About Flipkart :
● Founded : 2007
● Founders : Binny Bansal and Sachin Bansal
● CEO : Kalyan Krishnamurthi
DEFENCE NEWS
India to Collaborate with United Kingdom to Develop Electric Propulsion System for Domestic Warships
• India is planning to develop an electric propulsion system for its domestic warships in partnership
with the United Kingdom (UK).
• Discussions are ongoing between the Indian and UK governments regarding the agreement.
• Letter of Intent and Government-to-Government Agreement:The UK sent a letter of intent last
month for a government-to-government agreement, indicating its willingness to support India in
developing this capability.
About UK :
• Prime Minister: Rishi Sunak
• Capital: London
• Currency: Pound sterling
Defence Research and Development Organisation Successfully Flight-Tests Supersonic Missile-
Assisted Torpedo Release System Off Odisha Coast
• The Defence Research and Development Organisation (DRDO) announced the successful flight
test of the Supersonic Missile-Assisted Release of Torpedo (SMART) system from Dr APJ Abdul
Kalam Island off the coast of Odisha.
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• SMART is a next-generation missile-based lightweight torpedo delivery system.

• It is designed and developed by DRDO to enhance the anti-submarine warfare capability of the
Indian Navy.
About DRDO :
• Chairman : Samir V Kamat
• The DRDO is the premier agency under the Department of Defence Research and Development
in the Ministry of Defence (MoD) of the Government of India (GoI).
India and France Set to Conduct 7th Edition of Exercise 'Shakti' from May 13-26, 2024
• The 7th edition of the India-France Joint Military Exercise “Shakti” is scheduled to commence
from May 13, to 26, 2024 at the Joint Training Node, Umroi in Meghalaya.
• The exercise aims to enhance the joint military capacity of both India and France to undertake
Multi-Domain Operations in a Sub Conventional scenario.
• It also seeks to facilitate the development of interoperability, bonhomie, and camaraderie
between the Armed Forces of both nations.
About France :
• President : Emmanuel Macron
• Prime Minister : Gabriel Attal
• Capital : Paris
• Currency : Euro
Parivartan Chintan II, a Two-Day Conference on Jointness and Integration of Armed Forces, Concludes
in New Delhi
• The two-day “Parivartan Chintan II’ was held in New Delhi under the chairmanship of the Chief of
Defence Staff, Gen Anil Chauhan.
• The event was attended by the officers from the three Services Headquarters, Department of
Military Affairs, Headquarters Integrated Defence Staff and members of various sub-committees
of the Chiefs of Staff Committee (COSC), mandated to oversee the initiatives undertaken and to
generate novel ideas to give impetus to the ongoing process of Theaterisation.
Indian Army's Western Command and the Indian Air Force Collaborated for Joint Exercise Gagan
Strike-II in Punjab
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• The Indian Army’s Kharga Corps, part of the Army’s Western Command, concluded a 3-day joint
military exercise Gagan Strike-II with the Indian Air Force (IAF) in Punjab.
• Aim : To validate various force multipliers supporting ground offensives by strike corps and
integrated operations between the Army and Air Force.
• Lt-Gen Manoj Kumar Katiyar, General Officer Commanding-in-Chief, Western Command, and the
General Officer Commanding, Kharga Corps, reviewed the exercise.
About Indian Army :
• Chief of the Army Staff : General Manoj Pande
Indian Army Set to Receive Inaugural Hermes-900 Drone, Enhancing Border Surveillance Along
Pakistan
● The Indian Army is set to receive the first Hermes-900 Starliner drone, also known as the Drishti-
10 drone, on May 18, 2024, enhancing its surveillance capabilities along the Pakistan border.
● The Hermes-900 known as the Drishti-10 drone is being supplied to Indian forces including
Indian Army and Navy by Adani Defence Systems.
● The first of the two drones to be acquired by the Indian Army would be handed over to the force
on May 18, 2024 in Hyderabad.
● The supplies are part of the deal signed under the emergency powers given to forces by the
Defence Ministry.
● The Indian Army has ordered two drones, with the first delivered to the Navy in January.
● The second drone will go to the Army, and the third and fourth will be supplied accordingly.
● The Indian Army is already operating the Heron Mark 1 and Mark 2 drones and has also placed
orders for the Drishti-10 or the Hermes-900 drones under the last tranche of the emergency
procurements approved by the government for the forces.
● Adani Defence had signed a deal with the Israeli firm Elbit for the transfer of technology for the
drones and stated that it has indigenized 70% of the birds and will work to increase it further.
● The Indian Army has also inducted more satellite communication-enabled birds from Israel, as it
has a few Heron Mark 2 birds in direct deals with Israeli Aircraft Industries.
About Indian Army :
.
Defence Ministry Announces Act for Unified Tri-Service Military Discipline

● The Inter-Services Organisations (Command, Control and Discipline) Act has been notified
through a Gazette Notification to be enforced with effect from May 10, 2024.
● In order to bolster effective command, control and efficient functioning of Inter-Services
Organisations (ISOs), the bill was passed by both Houses of Parliament during the Monsoon
Session of 2023.
● The Bill received the assent of the President on August 15, 2023.
● Purpose and Empowerment:The Act empowers Commanders-in-Chief and Officers-in-Command
of ISOs to exercise control over service personnel under their command for maintaining discipline
and administration effectively.
● Previous Governance:Prior to this Act, service personnel of the Air Force, Army, and Navy were
governed by the Air Force Act, 1950, the Army Act, 1950, and the Navy Act, 1957 (the Service
Acts) respectively.
India-U.S. Joint Urban Terrorism Counter-Terrorism Exercise Concludes in Kolkata
● The National Security Guard (NSG) is conducting joint counter-terror mock drills with the US
Special Operations Forces (SOF) at multiple locations in Kolkata, to enhance interoperability and
coordination between the two special forces.
● This marks the 7th edition of the annual Indo-US joint counter-terrorism exercise 'Tarkash'.
● The exercise commenced on April 22 at the Kolkata hub of NSG and will conclude on May 15,
2024.
● The 3-week exercise encompassed intense training and mock drills in urban counter-terrorism
scenarios.
Objective of the exercise :
● To enhance interoperability and coordination between the two special forces in conducting
coordinated counter-terror operations in urban environments.
● It aims to improve bilateral cooperation between India and the US in combating terrorism in all its
forms and manifestations.
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● The previous edition of Tarkash - considered crucial in terms of security challenges being faced
by both countries in the current global scenario - was conducted at Chennai in Jan 2023.
About NSG :
● The National Security Guard, commonly known as Black Cats, is a counter-terrorism unit of India
under the Ministry of Home Affairs.
● It was established on October 16, 1984, following Operation Blue Star, to combat terrorist
activities and protect states against internal disturbances.
● Director-General : Shri Nalin Prabhat
Indian Army Establishes One of the World's Highest Tank Repair Facilities at 14,500 Feet
● The Indian Army has established one of the world's highest tank repair facilities at an altitude of
14,500 feet near the China border in Nyoma.
● Two armoured vehicle maintenance and repair facilities have been set up by the Indian Army in
Nyoma to ensure operational readiness of the combat fleet, especially in rugged terrain and
challenging weather conditions.
● These facilities are crucial for maintaining the combat fleet, which includes around 500 tanks and
infantry combat vehicles in Eastern Ladakh, ensuring they remain operationally ready.
Indian Army to Receive Igla-S Air Defence Systems Partially Assembled in India
● The Indian Army is set to receive Russian Igla-S very short-range air defence systems
(VSHORAD) under the fourth tranche of Emergency Procurements (EP).
● These systems were contracted in 2023, with deliveries beginning by the end of May 2024.
● The Army is also set to receive the first of two Israeli Hermes-900 Medium Altitude Long
Endurance Unmanned Aerial Vehicles (UAV) assembled by Adani Defence Systems and
Technologies Limited (ADSTL) in Hyderabad next month.
About Igla-S :
● The Igla-S systems are being assembled by ADSTL in India under technology transfer from
Rosoboronexport, the Russian defense export agency.
● The Army contracted 48 Igla-S launchers, 100 missiles, 48 night sights, and one missile testing
station under a ₹260 crore contract.
● Igla-S is a man-portable air defence system (MANPADS) developed by Russia.
About Indian Army :
.

Indo-Russian Joint Venture Delivers 27,000 Ak-203 Assault Rifles to Indian Army
● The Indian Army has received 27,000 Kalashnikov AK-203 assault rifles, produced at the
Russian-Indian joint venture IRRPL (Indo-Russian Rifles Private Limited) in the Indian central
state of Uttar Pradesh (UP).
● An additional 8,000 rifles will be handed over in the next two weeks.
● Currently, the indigenisation level is around 25%.
● Replacement of INSAS: The Indian Army is replacing the indigenous INSAS (Indian National
Small Arms System) rifles with modern rifles.
● Previous Procurement: The Army has already inducted 66,400 of the 72,400 SIG-716 assault
rifles procured from Sig Sauer (U.S.) in February 2019 for ₹700 crore.
● Under an over ₹5,000-crore contract signed in July 2021, over 6.1 lakh AK-203 assault rifles are
to be manufactured in India with technology transfer from Russia, by a joint venture Indo-Russian
Rifles Private Limited (IRRPL).
About IRRPL :
● The IRRPL was set up in 2019 between the erstwhile Ordnance Factory Board [now Advanced
Weapons and Equipment India Limited (AWEIL) and Munitions India Limited (MIL)] from India
and Rosoboronexport (RoE) and Kalashnikov concern of Russia.
About Indian Army :
● Established : 1st April, 1895
Chief of Defence Staff General Anil Chauhan Participates in Exercise Cyber Suraksha – 2024
● Chief of Defence Staff (CDS) Gen Anil Chauhan attended ‘Exercise Cyber Suraksha – 2024’, on
May 22, 2024, and underscored the importance of strengthening India’s cyber defence
capabilities.
● The exercise, conducted by the Defence Cyber Agency, spans from May 20 to May 24, 2024.
● Its primary goal is to enhance the cyber defence capabilities of all cybersecurity organizations
and promote synergy among stakeholders.
● Focus Areas:The exercise aims to develop cyber defence skills, techniques, and capabilities
among participants.
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● It emphasizes the sharing of best practices and collaboration among various military and national
organizations.
Indian and French Military Engage in Joint Exercise 'Shakti
● The Indian and French armies are actively participating in the 7th edition of the Joint Exercise
Shakti.
● The exercise focuses on sharing critical skills in jungle survival and mountain operations.
● It is held biennially and takes place from May 13-26 in Umroi, Meghalaya.
● The primary objective of the exercise is to enhance the capabilities of both militaries for multi-
domain operations in semi-conventional scenarios.
● It aims to facilitate the sharing of best practices in tactics, techniques, and procedures for
conducting joint operations.
● Participant Details:The Indian contingent consists of 90 members, primarily from the Rajput
Regiment, along with personnel from other military branches.
● The French side has deployed 90 soldiers, mainly from the 13th Foreign Legion Half-Brigade.
● The last edition was conducted in France in November 2021.
About France :
● Capital : Paris
● Currency : Euro
Defence Research & Development Organisation Successfully Flight-Tests RudraM-II Air-to-Surface
Missile from Su-30 MK-I off Odisha Coast
● The Defence Research & Development Organisation (DRDO) successfully flight-tested the
RudraM-II air-to-surface missile from the Su-30 MK-I platform of the Indian Air Force (IAF) off the
Odisha coast at approximately 1130 hours.
● The flight test met all trial objectives, validating the missile's propulsion system and control &
guidance algorithm.
.
About RudraM-II :
● RudraM-II is an indigenously-developed solid-propelled air-launched missile system meant for
Air-to-Surface role to neutralise many types of enemy assets.
● The RudraM-II missile possesses a range of 300 km and is equipped with precision target-
seeking capabilities.
● It is adaptable for use on multiple platforms, including the Mirage 2000.
● Additionally, it can achieve speeds of up to Mach 5.5 and carry a payload of 200 kg.

China Launches Chang'e-6, the World's 1st Mission to Collect Moon Samples
• China launched the Chang'e-6 lunar probe atop the Long March-5 Y8 carrier rocket from the
Wenchang Spacecraft Launch Site in Hainan Province, China.
• Objective:The mission aims to collect samples from the far side of the moon, making it the first of
its kind in human history.
• It is part of China's ambitious space program, which plans to send a crewed lunar mission by 2030
• The Chang'e-6 mission will land in South Pole-Aitken Bason on the far side of the moon.
About China :
• President : Xi Jinping
• Capital : Beijing
National Aeronautics and Space Administration Engineers Restore Voyager 1, the Pioneering
Spacecraft Exploring Beyond the Solar System
• Engineers have partially restored a 1970s-era computer on National Aeronautics and Space
Administration’s (NASA’s) Voyager 1 spacecraft after five months of long-distance troubleshooting,
building confidence that humanity's first interstellar probe can eventually resume normal
operations.
• Voyager 1 Spacecraft is a space probe launched by NASA on September 5, 1977, about two
weeks after its twin Voyager 2.
• Launched nearly 47 years ago, Voyager 1 is flying on an outbound trajectory more than 15 billion
miles (24 billion kilometres) from Earth, and it takes 22.5 hours for a radio signal to cover that
distance at the speed of light.
.
About NASA :
China Launches First of Eight Hangor-Class Submarines Built for Pakistan
• China has launched the first of the eight Hangor-class submarines to be built for its all-weather ally
Pakistan to provide it with state-of-the-art warships, adding a new dimension to their growing
bilateral military cooperation.
• The development comes as part of the agreement between Islamabad and Beijing under which the
latter had agreed to provide the former with 8 state-of-the-art advanced submarines.
• Of the 8 submarines, 4 are being built by WSIG (Wuhan Shipbuilding Industry Group) in China,
and the other 4 at Karachi Shipyard & Engineering Works (KS&EW) in Pakistan under a Transfer
of Technology (ToT) agreement.
About China:
Indian-Origin Astronaut Sunita Williams Set to Pilot Boeing's Starliner on Her 3rd Space Mission
• The National Aeronautics and Space Administration’s (NASA’s) Boeing Crew Flight Test will
launch Indian-origin astronaut Sunita Williams and her colleague Butch Wilmore on their third
space mission to the International Space Station (ISS).
• The astronauts will launch aboard Boeing’s Starliner spacecraft atop an Atlas V rocket from Cape
Canaveral’s Space Launch Complex-41 on May 7, 2024.
• This mission marks the first crewed trip on Boeing's Starliner spacecraft and its third orbital flight
test overall.
About NASA :
China's 3rd Aircraft Carrier, Fujian, Concludes Inaugural 8-Day Sea Trial
• China’s 3rd aircraft carrier, Fujian, has successfully completed its 8-day maiden sea trials.
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• During the trial, the carrier tested its propulsion, electrical systems, and other equipment, achieving
expected results.
• The carrier set sail from Jiangnan Shipyard in Shanghai on May 01, 2024.
• Fujian is an 80,000-tonne supercarrier equipped with electromagnetic catapults for launching
aircraft, making China the 2nd country after the U.S. to deploy a supercarrier with this technology.
About China:
Indian Space Research Organisation Successfully Conducts Hot Testing of Liquid Rocket Engine
• Indian Space Research Organisation (ISRO) has accomplished the significant achievement of
conducting a successful hot test of a liquid rocket engine that was produced using additive
manufacturing (AM) technology.
• The test lasted 665 seconds and involved the utilization of the PS4 engine, which is part of the
PSLV upper stage.
• AM, also known as 3D printing, involves layer-by-layer material addition to create objects from
digital models, allowing for complex designs and efficient material usage.
• PS4 Stage Details : The PS4 stage is the fourth, and topmost, stage of the PSLV rocket, featuring
two liquid engines.
About ISRO :
Google introduces Google Wallet for Android users in India
• Google announced the launch of the Google Wallet app in India, providing users with a centralized
platform to save travel tickets, gift cards, event passes, and other digital documents.
• It however does not support payment features such as saving credit cards or debit cards in the
wallet for on-tap payments.
• This Wallet app offers fast and secure access to everyday essentials, enabling people to
conveniently store and retrieve important digital documents like boarding passes, loyalty cards,
movie tickets, and more.
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About Google :
Japan Reveals World’s Inaugural 6G Device, Boasting 20 Times the Speed of 5G
• A Japanese consortium unveiled the world’s first high-speed 6G prototype device.
• The prototype device can transmit data at a remarkable speed of 100 gigabits per second
(Gbps), covering a distance of more than 300 feet.
• This represents a significant advancement over current 5G technology, boasting a 20x
improvement.
• The prototype device was a result of collaboration among Japan’s leading telecom companies,
including DOCOMO, NTT Corporation, NEC Corporation, and Fujitsu.
About Japan :
• Prime Minister: Fumio Kishida
• Capital: Tokyo
• Currency: Japanese yen
Boeing Starliner Launch, Carrying Astronaut Sunita Williams to Space, Postponed
• The launch of the Boeing Starliner, which was set to take astronaut Sunita Williams to space for a
3rd time, has been postponed due to a technical glitch.
• The Boeing Starliner is a partially reusable crew capsule, officially known as CST-100 (Crew
Space Transportation).
• On its first crewed test flight, Boeing’s Starliner spacecraft would be carrying two NASA astronauts
and will be launched on an Atlas V rocket from the Kennedy Space Center to the International
Space Station (ISS).
• The two NASA astronauts are Barry “Butch” Wilmore and Sunita William.
ISRO Completes First Ignition Test of Semi-Cryogenic Engine Pre-Burner Ignition Test Article at
Mahendragiri
• The Indian Space Research Organisation (ISRO) completed the first ignition test on the Semi
Cryogenic Pre-Burner Ignition Test Article (PITA) at the ISRO Propulsion Complex (IPRC) in
Mahendragiri, Tamil Nadu (TN).
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• Purpose of the Semi-Cryogenic Engine:ISRO is developing a 2000 kN thrust semi-cryogenic

engine that operates on a combination of Liquid Oxygen (LOX) and Kerosene.
• The engine is intended to enhance the payload capability of Launch Vehicle Mark 3 (LVM3) and
future launch vehicles.
About ISRO :
Micron Tech's India-made semiconductor chips set for global debut in 2025
• The first India-made semiconductor chips will be produced from Micron Technology's packaging
unit in Sanand, Gujarat, in the first half of 2025.
• Export-Oriented Production:Most chips produced at the Sanand facility will be exported, positioning
the plant as a significant contributor to the global semiconductor market.
• The chips are intended for a range of applications, including data centers, smartphones,
notebooks, and Internet of Things (IoT) devices.
About Micron Technology, Inc :
• Founded : October 5, 1978
• Headquarters : Boise, Idaho, United States
• President & CEO : Sanjay Mehrotra
• Micron Technology, Inc. is an American producer of computer memory and computer data storage
including dynamic random-access memory, flash memory, and USB flash drives.
Tata Consultancy Services To Set Up 1st-of-its-Kind Human-Centric Artificial Intelligence Center of
Excellence in France
● Tata Consultancy Services (TCS) , a global leader in IT services, consulting, and business
solutions, has announced the creation of a Global Artificial Intelligence (AI) Center of Excellence
in Paris, during the Choose France Summit, hosted by President Emmanuel Macron.
● The center will focus on designing and evolving AI to address business efficiencies and societal
priorities, particularly in areas like brain-computer interface, empathy in machines, and AI's role in
arts and culture.
● The new AI center will be situated in the upcoming TCS PacePort™ in the La Défense area of
Paris.
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● Inauguration is scheduled for June 2024, making it the 7th such facility in TCS' global Pace
network, joining locations like Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo.
About TCS :
● Founded : 1968
Extreme Solar Storm Causes Spectacular Aurora Display in Remote Indian Village of Hanle, Ladakh
● An extremely strong solar storm that hit Earth prompted a stunning display of colours in various
parts of the world, including one of the remotest villages in India, Hanle - located in Ladakh.
What are Auroras?
● Auroras are natural lights that appear as bright, swirling curtains in the night sky.
● They manifest in various colors such as blue, red, yellow, green, and orange.
● Geographical Distribution:Auroras primarily occur near the poles of both the northern and
southern hemispheres throughout the year.
● At times, they can expand to lower latitudes, creating spectacular displays visible to more
populated areas.
● Terminology:In the northern hemisphere, auroras are known as aurora borealis, while in the
southern hemisphere, they are called aurora australis.
● Solar Storm Source:The solar storms or coronal mass ejections originated from the AR13664
region of the sun.
● This region produced several high-energy solar flares, some of which are travelling towards Earth
at a speed of 800 km/s.
National Aeronautics and Space Administration Unveils Plans to Construct First Railway System on the
Moon
● The National Aeronautics and Space Administration (NASA) is preparing to send astronauts back
to the moon and has announced its plan to construct the first lunar railway system, known as
FLOAT (Flexible Levitation on a Track).
● Engineers at Nasa 's Jet Propulsion Laboratory (JPL) in California are currently developing the
FLOAT system.
● It will consist of magnetic robots levitating over a three-layer film track to reduce abrasion from
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dust on the lunar surface.

● Carts will be mounted on these robots and will move at roughly 1.61 kilometres per hour.
● Notably, FLOAT will be part of NASA's Artemis program, which seeks to return astronauts to the
moon for the first time since 1972.
● The space agency has set a target landing date of September 2026 to place astronauts on the
lunar surface.
Google Unveils New Personal AI Assistant at I/O Event, Potential Successor to Google Assistant
● As part of its suite of announcements during its high-profile I/O event, Google announced a brand
new personal AI Assistant that could be the successor to the Google Assistant.
● It’s called “Project Astra” and it’s powered by Gemini AI.
● Project Astra is powered by Gemini AI, Google's advanced artificial intelligence technology.
● Project Astra can see the world around you and answer questions about it.
● It can answer real-time questions fed to it through various modalities: text, video, images, and
speech.
About Google :
● Headquarters : California, U.S
Serum Institute of India ships its inaugural batch of malaria vaccine doses to Africa
● Pune-based Serum Institute of India (SII), has shipped its first batch of malaria vaccines-
R21/Matrix-M to Africa.
● The initial shipment will be sent to the Central African Republic (CAR), followed by other African
countries such as South Sudan and Democratic Republic of Congo in the next coming days.
● Allocation Details:In total, 1,63,800 doses of the R21/Matrix-M malaria vaccine have been
specifically allocated for the CAR region.
● Collaborative Development:The vaccine has been developed in collaboration with the University
of Oxford and Novavax’s Matrix-M adjuvant.
● Authorization and Efficacy:This is the second malaria vaccine authorized for use in children in
malaria-endemic regions.
● The R21/Matrix-M marks the culmination of 30 years of malaria vaccine research at the
University of Oxford's Jenner Institute.
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● It received support from various organizations including the European and Developing Countries
Clinical Trials Partnership (EDCTP), the Wellcome Trust, and the European Investment Bank
(EIB).
About WHO :
● Parent Organisation : United Nations Economic and Social Council
● The WHO is a specialized agency of the United Nations responsible for international public
health.
Astronomers Successfully Identify Rocky Planet with Atmospheric Composition
● Astronomers identified rocky planets beyond our solar system with an atmosphere.
● 55 Cancri e is classified as a super-Earth, meaning it is larger than Earth but smaller than
Neptune.
● It is an exoplanet also known as Janssen and is a super-Earth.
● It is located in our Milky Way galaxy about 41 light-years from Earth, in the constellation Cancer.
● Orbit and Temperature: It orbits its star at one-25th the distance between our solar system's
innermost planet Mercury and the sun. As a result, its surface temperature is about 3,140
degrees Fahrenheit.
● Mass and Diameter : It completes a full orbit every 18 hours or so.55 Cancri e has a mass about
8.8 times that of Earth and a diameter approximately twice the size of our planet.
● Discovery : 55 Cancri e was discovered in 2004.
● NASA’s James Webb Telescope : NASA’s James Webb Telescope: The telescope has been in
the works for years. NASA led its development with the European Space Agency (ESA) and the
Canadian Space Agency.
● It was launched aboard a rocket on December 25, 2021.
● Light-Year Conversion: One light-year equals approximately 9.5 trillion kilometres, serving as a
significant unit of distance measurement in astronomy.
Japan and United States Ink Deal to Collaborate on Hypersonic Missile Interceptor Development
● Japan and the United States (US) are planning to develop interceptors to shoot down hypersonic
missiles by the 2030s under a contract signed by the two countries.
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● The plan, which will reportedly cost more than $3 billion, was first announced in August when the
nations' leaders met at a summit with South Korea in Camp David outside Washington.
● The Japanese government has already included 75 billion yen ($480 million) in its 2024 budget
for development of the interceptors.
● Hypersonic missiles fly at more than five times the speed of sound and have irregular
trajectories, making them difficult to intercept.
About Japan :
● Capital: Tokyo
Spacetech Startup GalaxEye Conducts SAR Technology Test on National Aerospace Laboratories
Pseudo Satellite
● Bengaluru-based space technology startup GalaxEye has successfully tested its all-weather, all-
time prolonged aerial surveillance technology, which could enhance India's defense capabilities.
● GalaxEye tested its synthetic aperture radar (SAR) technology on a subscale high altitude
pseudo-satellite (HAPS) developed by the National Aerospace Laboratories (NAL).
● HAPS functions as high-flying drones operating in the stratosphere, providing capabilities for
prolonged aerial surveillance.
● HAPS can be stationed at approximately 18 km above Earth's surface, where the atmosphere
transitions into space. They can be manoeuvred to hover over specific countries or regions.
● HAPS are typically solar-powered and capable of carrying payloads weighing up to 40 kg.
● Unlike conventional aircraft flying at altitudes of 3 to 8 km, electric HAPS platforms have an
endurance of 2 to 3 hours and can remain stationary in one location for up to 7 days.
● Co-founder of Galaxeye : Suyash Singh
National Aeronautics and Space Administration Prepares to Launch PREFIRE Mission to Study Earth's
Polar Regions
● The National Aeronautics and Space Administration (NASA) is gearing up to launch its latest
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mission, the Polar Radiant Energy in the Far-Infrared Experiment (PREFIRE).

● This mission involves deploying twin shoebox-size climate satellites aimed at studying the Arctic
and Antarctic regions.
● The first cubesat, named "Ready, Aim, PREFIRE," is scheduled for launch on May 22,2024 while
the second, "PREFIRE and ICE," will follow a few days later.
● The primary goal of the PREFIRE mission is to investigate the amount of heat radiated from
Earth's polar regions into space and its impact on the global climate.
● PREFIRE aims to fill this gap by measuring how efficiently far-infrared heat is emitted by snow,
sea ice, and clouds.
● Collaboration and Management: The PREFIRE mission is a collaborative effort between NASA
and the University of Wisconsin-Madison.
● NASA's Jet Propulsion Laboratory manages the mission and provides the spectrometers, while
Blue Canyon Technologies built the CubeSats.
About NASA :
Elon Musk Introduces SpaceX's Satellite Internet Service in Indonesia
● Elon Musk and Indonesian Health Minister Budi Gunadi Sadikin launched SpaceX's satellite
internet service, Starlink, for Indonesia's health sector.
● The aim is to improve internet access in remote parts of Indonesia.
● Starlink was launched at three Indonesian health centers, including two in Bali and one on the
remote island of Aru in Maluku.
● Indonesia is the 3rd country in Southeast Asia where Starlink will operate.
About Starlink Project Overview :
● Starlink is a satellite network project developed by SpaceX, aimed at providing low-cost internet
to remote locations.
● It consists of a mega-constellation of satellites, with plans to expand up to 42,000 satellites,
currently totaling 5,800 in orbit.
● The satellites operate in Low Earth Orbit (LEO) at altitudes ranging from 350 km to 1,200 km,
reducing latency in internet services.
.
About Indonesia :
● Currency : Indonesian rupiah (Rp)
Microsoft Unveils 'Copilot+' PCs with Unique 'Recall' AI Functionality
● Microsoft is innovating by introducing a new category of personal computers with AI features,
emphasizing its efforts to integrate emerging technologies into its products.
● The move reflects Microsoft's strategy to compete with tech giants like Alphabet and Apple,
highlighting the importance of innovation and competition in the technology sector.
● Chief Executive Satya Nadella unveiled the new "Copilot+" PCs, showcasing the leadership role
in driving innovation and product development within Microsoft.
About Microsoft :
● Founded : April 4, 1975
● Headquarters : Washington, United States
● Chairman & CEO : Satya Nadella
Google Partners with Foxconn to Manufacture Pixel Smartphones in Tamil Nadu
● Internet major Google will partner with iPhone manufacturer Foxconn to produce its ultra-
premium Pixel smartphones for the first time in Tamil Nadu (TN).
● The move aims to scale up Google's Pixel smartphone business in India to tap into the growing
demand for premium smartphones in the world's second-largest smartphone market.
● Production Targets:Dixon aims to produce 1 lakh Pixel units monthly, intending to export 25-30%
as it endeavors to expand its market presence in India, the second-largest smartphone market
globally.
● Drone Assembly and Delivery:Google's subsidiary, Wing LLC, may commence drone assembly
in Tamil Nadu.
● Wing LLC offers a drone delivery service in the US, Europe, and Australia with a fleet of
lightweight, autonomous drones.
● Announcement and Production Start:In 2023, Google announced plans to start manufacturing
Pixel 8 smartphones in India.
● Tamil Nadu's Electronics Export Leadership:Tamil Nadu leads India in electronics exports,
contributing $9.56 billion, almost a third of the national exports.
.
About Google :
About Tamil Nadu :
● Governor : R. N. Ravi
● Chief Minister : M. K. Stalin
● Capital : Chennai
● National Parks : Mukurthi National Park, Gulf Of Mannar Marine National Park
● Wildlife Sanctuaries : Mudumalai Wildlife Sanctuary, Vallanadu Sanctuary, Mundanthurai
Sanctuary
SpaceX Deploys first batch of satellites for New US Spy Constellation
● SpaceX has launched the first batch of operational spy satellites as part of a new American
intelligence network.
● The Falcon 9 rocket, operated by SpaceX, lifted off from Vandenberg Space Force Base in
Southern California for this launch.
● It marks the first deployment of the NRO's comprehensive system featuring responsive collection
and rapid data delivery.
About SpaceX :
● Founded : March 14, 2002
● Headquarters : Hawthorne, California, United States
● CEO : Elon Musk
● SpaceX, is an American spacecraft manufacturer, launch service provider and satellite
communications company.
Indian Army Collaborates with Indian Oil Corporation Limited for Hydrogen Fuel Cell Bus Technology
Trials
● Indian Army has collaborated with Indian Oil Corporation Limited (IOCL) for demonstration trials
of Hydrogen Fuel Cell Bus technology.
● A Memorandum of Understanding (MoU) was signed between the Indian Army and the IOCL in
the presence of General Manoj Pande, Chief of the Army Staff (COAS) and Mr Shrikant Madhav
Vaidya, Chairman of Indian Oil.
.
● During the event, one Hydrogen Fuel Cell Bus was received by the Indian Army.
● This marks the commencement of a mutually beneficial partnership between the Indian Army and
IOCL.
● The Hydrogen Fuel Cell Bus has a seating capacity of 37 passengers.
● It promises an impressive mileage of 250-300 km on a full 30 kg onboard tank of Hydrogen fuel.
What is a hydrogen fuel cell?
● A hydrogen fuel cell uses the chemical energy of hydrogen to produce electricity.
● It is a clean form of energy with electricity, heat and water being the only products and by-
products.
● Fuel cells offer a variety of applications, from transportation to emergency back-up power, and
can power systems as large as a power plant or as small as a laptop.
● Fuel cells provide advantages over traditional combustion-based technologies, including greater
efficiencies and lower emissions.
About Indian Army :
About IOCL :
● Chairman : Shrikant Madhav Vaidya
● Indian Oil Corporation Limited (IOCL or IOC), trading as IndianOil, is an Indian oil and gas
company under the ownership of the Ministry of Petroleum and Natural Gas, Government of
India.
Tata Consultancy Services and Indian Institute of Technology-Bombay Collaborate to Develop India's
First Quantum Diamond Microchip Imager
● Tata Consultancy Services (TCS) has joined forces with the Indian Institute of Technology
Bombay (IIT Bombay) to create India's inaugural Quantum Diamond Microchip Imager.
● This collaboration aims to develop a tool for assessing the quality of semiconductors.
● This collaboration is aligned with the government of India’s National Quantum Mission.
.
● The imager capitalizes on defects within diamond structures, specifically Nitrogen-Vacancy (NV)
centers, to achieve its functionality.
● Notably, IIT Bombay was TCS' inaugural academic partner for its Co-Innovation Network (COIN),
aimed at promoting industry-academia collaboration to pioneer innovative solutions.
What is National Quantum Mission India?
● The National Quantum Mission India is an initiative led by the Department of Science and
Technology, Government of India, aimed at advancing scientific and industrial research in
quantum technologies.
● This mission aligns with the nation's goals under Digital India, Make in India, Skill India, and
sustainable development.
● In a significant move, the Union Cabinet of the Government of India has approved the National
Quantum Mission with a budget of INR 6003.65 crore (approximately $730.3 million) for the
period from 2023-24 to 2030-31.
About TCS :
● Founded : 1968
BOOKS AND AUTHOR

First True Copy of 'Indulekha' Painting Unveiled at Kilimanoor Palace on Ravi Varma's 176th Birth
Anniversary
• On the occasion of the 176th birth anniversary of Ravi Varma, the first true copy of the ‘Indulekha’
painting was released at the Kilimanoor Palace.
• Ravi Varma was born in 1848 at Kilimanoor Palace, near Trivandrum.
• A copy of Raja Ravi Varma’s pioneering artwork Indulekha, based on the novel by O. Chandu
Menon has been placed in the art gallery of Kilimanoor Royal Palace.
The Winner’s Mindset: Shane Watson shows ways to combat fear of failure
• Australian all-rounder Shane Watson recently launched the book ‘The Winner’s Mindset’ which
talks about how to get success even in the darkest period of life.
.
• According to the book, having a winner’s mindset means believing in yourself, setting goals, and
never giving up, no matter how tough things get.
• Watson notes that in September 2015, he was planning to announce his retirement from cricket
although he was in good shape.
• His form deteriorated following the bouncer incident which took Australian batter Philip Hughes’
life the year before (2014).
RANKING AND INDEX

UAE top destination for Indian migrants hosts 3.47 million:
• The United Arab Emirates (UAE) is the top destination for Indian migrants, according to a report by
a United Nations agency.
• The International Organisation for Migration (IOM), announced that India received over $111 billion
in remittances in 2022, the largest in the world, becoming the first country to reach and even
surpass the $100 billion mark.
• The International Organisation for Migration (IOM), in its World Migration Report 2024: in 2022,
India, Mexico, China, the Philippines and Egypt were the top five remittance recipient countries.
• India was well above the rest, receiving more than $111 billion, the first country to reach and even
surpass the $100 billion mark.
About IOM
• The International Organization for Migration is a United Nations related organization working in the
field of migration.
• Headquarters: Grand-Saconnex, Switzerland,
• IOM Director General :Amy Pope
India ranks below Pakistan at 159 among 180 countries in the World Press Freedom Index: 'Unofficial
state of emergency'
• India ranked 159 among 180 countries in the latest annual World Press Freedom Index released
by Reporters Without Borders (RSF, short for Reporters sans frontières in French), an international
non-profit organization.
• India had ranked 161 in the 2023 list.
• Meanwhile, Pakistan ranked seven spots above India at 152.
• It had ranked 150 in 2023.
.
• Norway topped the ranking, while Denmark was on the second rank in World Press Freedom
Index. Sweden ranked third on the list.
China largest trading partner of India in FY24 with $118.4 bn; the US second with $118.3 bn
• According to the data of economic think tank GTRI, China has emerged as the largest trading
partner of India with $118.4 billion in two-way commerce in 2023-24, slightly edging past the US.
• The bilateral trade between India and the US stood at $118.3 billion in 2023-24. Washington was
the top trading partner of New Delhi during 2021-22 and 2022-23.
• China was India's top trading partner from 2013-14 till 2017-18 and also in 2020-21.
• Before China, the UAE was the country's largest trading partner.
• The US was the largest partner in 2021-22 and 2022-23.
UAE tops global fibre connectivity with 99.3 pc penetration
● The UAE has once again been recognized as the global leader in Fibre to the Home (FTTH)
penetration.
● This marks the eighth consecutive year the country has held this top position with a penetration rate
of 99.3 percent, as reported by the FTTH Council in its latest annual report.
● The report analysed data from 20 countries that have exceeded 50 percent FTTH availability and
compared global statistics on fiber optic network penetration.
● It placed the UAE above Singapore (97.1 percent), Hong Kong (95.3 percent), China (92.9 percent),
and South Korea (91.5 percent).
India losing edge in higher education, 33 institutions' ranking dips: CWUR
● According to the Center for World University Rankings (CWUR), as many as 65 Indian universities
and institutes from India, led by the Indian Institute of Management Ahmedabad, are among the top
2000 globally but the country is losing its competitiveness in higher education on the international
stage.
● In the 2024 edition of the Global 2000 list by the CWUR, 32 Indian institutions moved up the ladder,
while 33 saw a fall.
● IIM-A, the country’s top institute stood at 410th rank globally, as compared to 419 last year.
● It was followed by the Indian Institute of Science (501) and the Indian Institute of Technology
Bombay (568).
● The rankings are based on the analysis of 62 million outcome-based data points on four factors:
Quality of education (25%), Employability (25%), Quality of faculty (10%), Research (40%).
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● In Asia, the University of Tokyo was the highest-ranked institution, at 13th spot globally.
● Globally, Harvard emerged as the top university for the thirteenth year in a row.
China remains leading import partner for India in FY24 at $101.74 billion
● China retained its spot as top import partner for India in 2023-24 with goods inflows increasing 3.29
percent (year-on-year) to $101.74 billion, opposed to an overall 5.66 per cent decline in the country’s
imports.
● High-tech items such as telecom and smartphone parts, laptop and PCs, as well as industrial inputs
such as plastic, iron and steel and chemicals contributed substantially to the imports.
● Total goods imports by India in 2023-24 fell 5.66 per cent to $675.44 billion.
● Russia vaulted to the second spot amongst India’s top import sources, surpassing the UAE and the
US, in 2023-24.
● India’s import from Russia rose 34 per cent to $61.44 billion during the fiscal comprising mostly oil.
● The UAE slipped one spot to the third place with imports from the country declining 9.8 per cent to
$48.01 billion.
● The US, too, slid a rank to the fourth spot with imports from the country falling 19.83 per cent to
$40.77 billion.
India participated in the 19th Session of the United Nations Forum on Forests in New York
● The 19th Session of the United Nations Forum on Forests (UNFF) was organized from May 6th to
10th May 2024.
● In this session, India highlighted significant advancements in forest conservation and sustainable
forest management.
● Between 2010 and 2020, India ranks third in the net gain in average annual forest area.
● The report on International Forest Governance was launched at the 19th Session of the United
Nations Forum on Forests (UNFF19),has revealed the rising trend of the ‘climatisation’ of forests.
● It is the first global synthesis report on international forest governance in the last 14 years.
● The report analyses developments in international forest governance since 2010, when the IUFRO-
led Global Forest Expert Panel (GFEP) published its last global assessment.
● India also shared information about the ‘Green Credit Program’, which is designed to incentivize
entities to take up tree plantation and restoration of degraded forest lands.
● The recent celebrations marking 50 years of Project Tiger and 30 years of Project Elephant
underscore India’s commitment to species conservation and habitat protection.
.
● India also highlighted the creation of the International Big Cat Alliance at this session.
Mumbai and Delhi feature among the World's Top 50 Wealthiest cities, surpassing Washington DC
● Henley and Partners, a leader in residence and citizenship planning, recently unveiled a list of the
World's Wealthiest Top 10 cities and Rising Wealth Hubs, highlighting cities that attract high-net-
worth individuals (HNWIs) with liquid investable wealth of USD 1 million or more.
● Mumbai and Delhi's inclusion in the top 50 wealthiest cities underscores India's economic progress
and urban development.
● On the list they ranked above, Washington, DC the capital city of the World's richest country.
● Mumbai and Delhi join other global financial hubs, such as New York, London, and Tokyo, in the list
of top 50 wealthiest cities.
● The Bay Area tech hub, Tokyo, Singapore, London, Los Angeles, Paris, Sydney, Hong Kong, and
Beijing complete the top 10. These cities offer diverse opportunities and amenities, attracting affluent
individuals and businesses.
India Climbs To 39th Position In World Economic Forum’s Travel & Tourism Development Index
● India has climbed to the 39th position in the World Economic Forum’s Travel & Tourism
Development Index 2024, while the US topped the list.
● India also ranks the highest in South Asia among the lower-middle-income economies.
● Earlier, India was ranked 54th in the 2021 published index.
● On an overall index score of 7, where 1 is the worst, and 7 the best, India scored 4.25.
● After the US, Spain, Japan, France and Australia figure among the top five in the 2024 list.
● The index, prepared in collaboration with the University of Surrey, showed India is highly price-
competitive (18th) and boasts competitive Air Transport (26th) and Ground and Port (25th)
infrastructure.
● The biennial index analysed the travel and tourism sectors of 119 countries around a range of
factors and policies.
● The index is comprised of five dimensions, 17 pillars and 102 individual indicators, distributed
among the 5 different pillars - Business Environment, Safety and Security, Health and
Hygiene,Health and Hygiene, Human Resources and Labour Market, ICT Readiness.
● In 2024, Japan (3rd) is the top performer in the APAC region, with Australia (5th) and China (8th)
ranking in the global top 10.
● China also has the region’s largest and the world’s second-largest T&T economy, while India
.
(39th) has the largest T&T sector in South Asia and scores as the TTDI’s top lower-middle-
income economy.
Oxford Economics’ Global Cities Index: At 350, Delhi highest ranked Indian city
● Delhi has scored the 350th rank in the Oxford Economics’ Global Cities Index, which has compared
the world's 1000 largest cities on parameters ranging from economics to human capital.
● The list of 1000 largest cities, spread across 163 different countries, also feature several other Indian
cities, including Bengaluru, Mumbai and Chennai.
● However, no Indian city could make the Top 300.
● The national capital is the best performing Indian city on the list.
● The index contains 27 indicators across five categories
⮚ Economics(30%),
⮚ Human Capital(25%),
⮚ Quality of Life(25%),
⮚ Environment(10%),
⮚ and Governance (10%), which are aggregated to create an overall score for each city.
● New York ranks first on the index, followed by London, San Jose, Tokyo, Paris, Seattle, Los
Angeles, San Francisco, Melbourne and Zurich.
● In India, Bengaluru is ranked 411, Mumbai 427, Chennai 472, Kochi 521, Kolkata 528, Pune 534,
Thrissur 550, Hyderabad 564 and Kozhikode 580.
● Sultanpur, also in Uttar Pradesh, holds the lowest position among Indian cities, coming in at the
1,000th spot.
● Ranked 578, Pakistan's Islamabad and Rawalpindi were the best performing cities of the country.
Over 50% of world’s mangroves at risk of collapse, climate change leading factor: IUCN
● More than half of the world's mangrove ecosystems are at risk of collapse, with nearly one in five
facing severe risk, according to the findings of the first global mangrove assessment.
● According to the study done using the International Union for Conservation of Nature's (IUCN) Red
List of Ecosystems -- a global standard for measuring the health of ecosystems, climate change
threatens one-third (33 per cent) of the mangrove ecosystems.
About IUCN
● Founded in 1948, IUCN has become the global authority on the status of the natural world and the
measures needed to safeguard it.
.
● Headquarters: Gland, Switzerland.

World Bank Report - 'Water For Shared Prosperity' Highlights Global Water Access Disparities
● The World Bank report, titled “Water for Shared Prosperity,” was released at the 10th World Water
Forum in Bali, Indonesia.
● It underscores the widening gap in access to water resources and services, exacerbated by factors
like population growth, urbanization, and climate change.
● In 2022, 2.2 billion people lacked access to safely managed drinking water services, while 3.5 billion
lacked access to safely managed sanitation.
● Over 800 million people globally are at high risk of drought, with double that number living in flood-
prone areas.
● The Democratic Republic of the Congo holds over half of Africa’s total water resources.
About World Water Forum
● World Water Forum is a large-scale international event that focuses on the discussion and
development of solutions to global water-related challenges.
● It is held every three years.
● The first forum took place in Marrakesh, Morocco in March 1997.
● It is organized by the World Water Council, an international organization.
SPORTS NEWS
Official Anthem for ICC Men’s T20 World Cup 2024, ‘Out of this World’, released by Sean Paul and Kes
• The International Cricket Council (ICC) released the official anthem for the Men’s T20 World Cup
2024.
• The anthem titled ‘Out Of This World’ features Grammy award winning artist Sean Paul and Soca
superstar Kes.
• The anthem, produced by Michael "Tano" Montano, was launched with a music video.
• It includes eight-time Olympic gold medalist Usain Bolt, cricket stars Chris Gayle, Ali Khan,
Shivnarine Chanderpaul and other Caribbean celebrities.
Iga Swiatek Beats Aryna Sabalenka to Win Madrid Open
• World number one Iga Swiatek edged Aryna Sabalenka 7-5, 4-6, 7-6(7) in a gripping and gruelling
Madrid Open final to win the title for the first time
.
• Top-ranked Iga Swiatek came through “the most intense and crazy final” she has ever contested to
avenge her loss to Aryna Sabalenka in last year’s Madrid final with a gruelling three-hour 11-
minute victory in the Spanish capital.
• Swiatek, who picked up the 20th title of her career, and ninth at the WTA 1000 level, has now won
her last eight consecutive finals and joins Elena Rybakina with a tour-leading 30 victories this
season.
Max Verstappen Takes Pole For Miami GP After Sprint Race Win
• Red Bull's Max Verstappen continued his domination of Formula One, taking pole position for
Miami Grand Prix after clinching the sprint race earlier.
• The reigning world champion and championship leader, who has won four out of five Grand Prix
races this season, secured his seventh straight pole position with another dominant drive.
• Ferrari's Charles Leclerc, whose fastest lap was 0.141 seconds behind Verstappen, will start
second with his teammate Carlos Sainz in third place and Verstappen's Red Bull partner Sergio
Perez fourth.
India to Organize BWF World Junior Badminton Championships 2025 in Guwahati
• The Badminton World Federation (BWF) announced that India will host the 2025 BWF World
Junior Championships at the National Centre of Excellence in Guwahati.
• It will be the first time since 2008 that the prestigious Badminton World Federation (BWF) event will
be held in India.
• India last hosted the event in Pune.
• The exact dates for the 2025 BWF World Junior Championships will be announced later.
About BWF :
• Headquarters : Kuala Lumpur, Malaysia
• President : Poul-Erik Høyer Larsen
• The BWF is the international governing body for the sport of badminton recognised by the
International Olympic Committee (IOC).
Asian Carrom Championship: Indian Players Captured Both Men’s And Women’s Doubles Titles At
Male, Maldives
• Rashmi Kumari outplayed Shainy Sebastian to clinch the women's title in the 6th Asian carrom
championship which concluded in Maldives.
.
• It was the fourth Asian crown for the three-time World Champion Rashmi, who had recently won
her 12th National title in Gwalior.
• Men Final: Mohd.Ghufran bt K. Srinivas
• Women Final: Rashmi Kumari bt Shainy Sebastian
Red Bull confirms design chief Adrian Newey to leave in 2025
• Adrian Newey, regarded as the greatest F1 designer and a chief architect of Red Bull’s
dominance, is set to end his Red Bull stay in the “first quarter” of 2025.
• Red Bull confirmed that design chief Adrian Newey will leave the Formula 1 team in early 2025
after 19 years.
• It was widely reported last week that the 65-year-old was set to quit following a controversy
involving allegations about team principal Christian Horner.
• The announcement is expected to start a bidding war for Newey’s services, with Ferrari, soon to
be joined by Lewis Hamilton, in pole position.
NADA India organizes #PlayTrue Campaign to create awareness about clean sports
• The National Anti-Doping Agency (NADA), India concluded the #PlayTrue Campaign, with a
turnout of more than 12,133 participants.
• The campaign commemorated WADA’s Play True Day and aimed at fostering awareness about
the importance of clean sports and anti-doping practices in India, received overwhelming
participation and support from athletes, coaches, and sports enthusiasts nationwide.
• The #PlayTrue Campaign highlights NADA India's commitment to equipping athletes, coaches,
and the entire sporting community with a thorough understanding of anti-doping regulations,
empowering them to champion clean play in India.
Manika Batra Stuns World No 2 at WTT Saudi Smash, Claims Career-Best Singles Win
• Top Indian woman paddler Manika Batra claimed the biggest scalp of her career as she accounted
for World No. 2, Wang Manyu of China in four games in a Women's singles Round of 32 clash in
WTT Saudi Smash.
• Manika came back after losing the first game to win the next three to stun the top Chinese player
and win the match 6-11, 11-5, 11-7, 12-10 in the 38-minute encounter played at Infinity Arena in
King Abdullah Sports City.
• The 28-year-old Indian had started her campaign in Saudi Smash with a 3-0 win over Andreea
Dragoman of Spain in the first round.
.
Rublev Battles Illness To Claim Madrid Open Title

• Andrey Rublev won the Madrid Open with a hard-fought 4-6, 7-5, 7-5 victory over Felix Auger-
Aliassime to secure his second title of the year, despite battling with illness.
• The Russian world number eight said he was “almost dead every day” and could barely sleep this
week after securing a career second Masters 1000 victory.
• Rublev had lost four consecutive matches before arriving in the Spanish capital but came from a
set down to beat his Canadian opponent.
Asian Games Test Event: Indian pugilists win five gold medals
• Indian pugilists testing their water for the upcoming Asian Games in August proved their worth and
emerged with a massive tally of ten medals, including five gold, one silver and four bronze medals
at the Asian Games Test Event, here in Jakarta.
• Even though seven of the ten participating Indian pugilists were guaranteed bronze medals at the
start of the tournament, three Indian boxers displayed ruthlessness as they romped past their
opponents in dominating fashion to clinch the gold.
China down Indonesia to claim Thomas and Uber Cup double
• China completed a Thomas and Uber Cup double as both men’s and women’s teams beat
Indonesia to win their respective world team championship finals in Chengdu.
• The men, who won 3-1, lifted China’s first Thomas Cup since they beat Japan in 2018 -- and their
11th in all.
• The 2024 Thomas & Uber Cup was the 33rd edition of the Thomas Cup and the 30th edition of the
Uber Cup, the biennial international badminton championship contested by the men and women's
national teams of the member associations of Badminton World Federation.
ISL final: Mumbai City FC break Mohun Bagan Super Giant hearts with a come-from-behind win at Salt
Lake
• Mumbai City FC beat Mohun Bagan Super Giant 3-1 at the Salt Lake Stadium to emerge as the
Indian Super League (ISL) 2023-24 Cup Winners at the final in Kolkata.
• Indian Super League (ISL) 2023-24 was 10th season of ISL.
• ISL Cup final was played at the Vivekananda Yuba Bharati Krirangan in Kolkata.
• Golden Glove: Phurba Lachenpa (Mumbai City FC), Golden Boot: Dimitrios Diamantakos (Kerala
Blasters FC)
• Emerging Player of the League: Vikram Partap Singh (Mumbai City FC).
.
• Player of the League: Dimitrios Petratos (Mohun Bagan Super Giant).

Dharamshala Cricket Stadium gets India’s first ‘hybrid pitch’
• India’s first-ever “hybrid pitch” was unveiled at the picturesque Himachal Pradesh Cricket
Association (HPCA) stadium in Dharamshala, marking a significant milestone for the sport in the
country.
• The introduction of the SISGrass hybrid pitch is expected to lift the quality of the sport played on
Indian pitches.
• SISGrass designs, constructs and supplies hybrid and synthetic cricket match pitches and practice
net areas for a wide variety of organisations, including international cricket venues, local cricket
clubs, schools, and universities.
Tripura’s First International Cricket Stadium Set To Be Ready By February 2025
• Tripura Cricket Association (TCA) is set to inaugurate the state’s first international cricket stadium
in Narsingarh, located in the West Tripura district, with a one-day international match or an IPL
(Indian Premier League) T20 encounter.
• Subrata Dey, the secretary of TCA, announced that the stadium is expected to be operational for
hosting major cricket events by February 2025.
• It will be the northeastern state’s first stadium.
• It is being constructed with a budget of Rs 200 crore.
• BCCI and Tripura Cricket Association have joined hands to construct this stadium. Its construction
was started in 2017.
Lando Norris wins historic maiden victory at F1 Miami Grand Prix
• The 24-year-old British Formula 1(F1) driver Lando Norris finally won his maiden F1 title by
winning the Miami Grand Prix held at the Miami International Autodrome in Miami, Florida, in the
United States of America.
• He also broke the dominance of the Red Bulls Max Verstappen, who won four out of six races of
the 2024 F1 season.
• Lando Norris, who is currently with McLaren’s team, made his debut in the F1 circuit at the
Australian Grand Prix in 2019.
About F1 :
• The Formula One motor car racing is organised by The Fédération Internationale de l'Automobile
(FIA).
.
• The FIA was set up in 1904.

• The 2024 Formula One season consists of 24 Grand Prix races.
International Chess Federation Awards Grandmaster Title To Indian Chess Prodigy Vaishali Ramesh
Babu
• Indian Chess Prodigy, Vaishali Ramesh Babu has been awarded the title of Grandmaster by FIDE.
• Vaishali is the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli.
• Vaishali's accomplishment, as the 84th Indian grandmaster and 42nd woman from any country to
become a GM, has already been widely recognized.
• In January 2024, she was presented with the Arjuna Award.
West Indies player Devon Thomas banned for five years under an anti-corruption code
• The International Cricket Council imposed five years of ineligibility from all cricket on West Indies
player Devon Thomas after he accepted breaching seven counts of the anti-corruption codes of Sri
Lanka Cricket , the Emirates Cricket Board and the Caribbean Premier League .
• The ICC announced the period of ineligibility in its capacity as the Designated Anti-Corruption
Official under the relevant codes, ruling that the last 18 months of the period of ineligibility would be
suspended.
Japan Triumphs at the AFC U-23 Asian Cup, Secures Olympic Berth
• The Japanese men's under-23 football team made history by winning the AFC U-23 Asian Cup for
the second time.
• They defeated Uzbekistan in a thrilling final match held at the Jassim bin Hamad Stadium in Doha,
Qatar.
• This victory also secured Japan's qualification for the 2024 Paris Olympics.
• The 6th edition of the AFC U-23 Asian Cup took place in Qatar from April 15 to May 3, 2024.
• The top three teams automatically qualified for the upcoming Paris Olympics.
• Japan emerged as the champions, winning the gold medal, while Uzbekistan took home the silver
medal.
New Zealand's Colin Munro retires from international cricket after T20 WC snub
• New Zealand's Colin Munro, announced his retirement from international cricket after he was not
included in the national team for the upcoming T20 World Cup.
• Munro played one Test, 57 ODIs and 65 T20Is for the Kiwis amassing a total of 3010 runs, but it
was in the shortest format the left-hander made a name for himself.
.
Doha Diamond League: Neeraj Chopra finishes second with a throw of 88.36m
• Olympic and world champion Neeraj Chopra finished second at the Doha Diamond League
meeting javelin throw event as his big final effort of 88.36m fell short by two centimetres of Jakub
Vadlejch's winning effort.
• The 26-year-old Chopra trailed Czech Republic veteran Vadlejch -- who won the title with his third
round throw of 88.38m -- all through the competition.
• Two-time world champion Anderson Peters took the third sport with a best throw of 86.62m.
Indian Contingent Bags 43 Medals At ASBC Asian U-22 And Youth Boxing Championships In Astana,
Kazakhstan
• The Indian contingent won 43 medals in the ASBC Asian U22 and Youth Boxing Championship in
Astana, Kazakhstan.
• In both categories, the Indian contingent won 12 gold, 14 silver and 17 bronze medals.
• The Indian under-22 team finished with 21 medals including 7 gold, 5 silver and 9 bronze medals.
• The youth category finished with 22 medals including 5 gold, 9 silver and 8 bronze medals.
UWW suspends Bajrang Punia for dope sample refusal to NADA
• The world wrestling governing body United World Wrestling (UWW) has provisionally suspended
Tokyo bronze medallist Bajrang Punia till 31st December 2024.
• The UWW has cited the suspension of Bajrang Punia by the National Anti-Doping Agency (NADA)
of India as the reason for the provisional suspension.
• It puts into jeopardy his participation in the 2024 Paris Summer Olympics.
About UWW
• United World Wrestling is the international governing body for the sport of amateur wrestling; its
duties include overseeing wrestling at the World Championships and Olympic.
• Headquarters: Corsier-sur-Vevey, Switzerland,
• Founded: 1912.
Dominic Thiem, the winner of the US Open, announces his retirement from tennis
• Austrian tennis player Dominic Thiem announced that he will retire at the end of this season.
• The 30-year-old, who won the US Open men’s singles title in 2020, said that recurring problems
due to his wrist injury forced him to arrive at this decision.
• Thiem has won 17 career titles, the most recent being the US Open win in 2020.
• The Austrian achieved a career-highest ranking of 3 in March 2020.
.
• He is currently ranked 117th.

Indian Gymnast Srishti Khandagale Wins Silver medal at Asian Championships
• In Trampoline, India’s Srishti Khandagale scripted history by becoming the first-ever Indian to win a
medal at the Asian Trampoline Gymnastics Championships.
• She clinched the silver medal in the Women’s Individual Age group category at the 6th Asian
Trampoline Gymnastics Championship held in Hong Kong, China.
• However, she did not qualify for the upcoming Paris Olympics, as she was competing in an age
group event.
• Kazakhstan’s Dolgopolova secured the gold medal, while Hong Kong’s S Hung won the bronze.
Legendary Nepal Mountaineer Climbs Mount Everest For Record 29th Time
● Nepal's Kami Rita Sherpa also known as 'Everest Man' broke his record by climbing the world's
highest peak, Mount Everest for the 29th time.
● The 54-year-old Sherpa climber and guide in the last spring season had climbed the 8848.86 meters
tall highest peak two times within a week setting a record for the 28th summit.
● Legendary Nepal Mountaineer Climbs Mount Everest For Record 29th Time the record-setting
climber reached the summit of Everest at 7:25 AM (NST).
T20 World Cup to stream and broadcast with sign language, audio description
● In a first for Indian sports streaming, the ICC Men’s T20 cricket World Cup will be streamed with
Hindi audio description and Indian Sign Language (ISL) for visually and hearing impaired viewers,
Disney+ Hotstar, the streaming service with the rights to stream the tournament this year(2024)
announced.
● Reports peg the tournament’s media value between ₹1,600–2,000 crore.
● This is the first time that the T20 World Cup will be telecast with sign language and descriptive
commentary making cricket more immersive for its deaf, hard-of-hearing and visually-impaired
users.
Puma India signs up as an official kit partner for the Athletics Federation of India , which will equip over
400 Indian athletes
● Puma India has signed up as the official kit sponsor of the sports body, Athletics Federation of India
(AFI).
● Under this multi-year deal, the sports brand will exclusively supply performance kits, speed suits and
travel gear to all athletes under AFI and who represent India in track & field, jumps, throws, cross
.
country running and marathons at both domestic and international tournaments.

● However, this kitting partnership does not include Olympics, Asian Games and Commonwealth
Games.
● Arne Freundt, CEO, PUMA SE.
● Established in 1946, the AFI is the apex body for running and managing athletics in India and is
affiliated with the World Athletics, Asian Athletics Association, and Indian Olympic Association.
Table Tennis, Manika Batra Becomes First Indian Woman To Break Into Top 25 Of World Women’s
Singles Rankings
● India’s women’s table tennis player Manika Batra became the first Indian woman to enter the top 25
of the world women’s singles rankings.
● After the success of the Saudi Smash, Manika Batra rose to her career-best ranking of 24.
● She also equalled G. Sathyan’s five-year-old record for the highest rank achieved by an Indian in
singles table tennis.
● She won three medals at the 2015 Commonwealth Table Tennis Championships.
● Manika Batra won the gold medal at the 2018 Commonwealth Games in individual and team
categories.
● She was awarded the Major Dhyan Chand Khel Ratna in 2020.
Homecoming hero Neeraj Chopra takes the accolade and applause at Federation Cup
● Olympic champion Neeraj Chopra won the gold medal in men's javelin throw at the 27th National
Federation Senior Athletics Competition in Bhubaneswar.
● Neeraj struggled in the early stages of the competition as he stood second after three rounds.
● He took the lead in the fourth round with an effort of 82.27 metres.
● DP Manu, of Karnataka came second with 82.06m effort, while Uttam Balasaheb Patil of
Maharashtra was third with 78.39m.
● Local man and Asian Games silver medallist Kishore Jena finished fifth with a disappointing 75.49m.
● Jena had qualified for the Paris Olympics when he threw 87.54m for the Asian Games silver medal
in Hangzhou, China last year.
Brazil Declared Host Of 2027 Women’s World Cup At FIFA Congress
● Brazil was declared the host of the 2027 Women’s World Cup at the FIFA Congress, beating the
joint bid of Belgium, Netherlands and Germany to become the first South American country to hold
the tournament.
.
● The 74th FIFA congress, making its debut in Premier League-mad Thailand, made its choice by
open vote for the first time as the organisation seeks to move on from the corruption and shady
dealing that dogged it in the past.
● Brazil hosted the men’s football World Cups in 1950 and 2014; now it’s time for women.
● This will be the first Women's World Cup to be held in South America.
● The FIFA Women's World Cup has seen five nations crowned champions, with the 2023 title going
to Spain.
● FIFA President: Gianni Infantino.
Coca-Cola India announces its first-ever partnership with Hockey India, for the National Women's
Hockey League
● The Coca-Cola India Foundation, announces its first-ever partnership with Hockey India, for the
National Women's Hockey League 2024.
● The 1st Phase of the tournament commenced on 30thApril, and it will conclude on 9thMay 2024, in
Ranchi, Jharkhand
● The National Women's Hockey League features teams that secured top-eight positions in Pune's
recently concluded 14th Hockey India Senior Women National Championship 2024.
● The participating athletes represent various states, including Haryana, Maharashtra, Jharkhand,
Madhya Pradesh, Bengal, Mizoram, Manipur, and Odisha.
● In line with Coca-Cola India's commitment to sports, the three-year collaboration underscores its role
in positively shaping the sports and gender equality landscape.
● The partnership also aligns with the company's #SheTheDifference campaign, an initiative to
celebrate, uplift, and support women.
Martín Wins the 2024 French Grand Prix

● Jorge Martin extended his lead in the championship with a thrilling victory in the French MotoGP at
Le Mans
● The Spaniard, who won the sprint, battled the entire race with rival Francesco Bagnaia before Marc
Marquez arrived late to steal second place.
● Pramac Ducati rider Martin heads the standings with 129 points, 38 ahead of Bagnaia who moved
into second spot.
Japanese Men's Hockey Team Etched Its Name In History Books By Clinching Its Maiden Sultan Azlan
.
Shah Trophy Title

● The Japanese men's hockey team made history when it won the Sultan Azlan Shah Trophy for the
first time.
● The match against Pakistan concluded in a 2-2 tie after regulation time, forcing a penalty shootout.
● Japan triumphed, defeating Pakistan 4-1 in a nail-biting shootout at the Azlan Shah Stadium in Ipoh,
Malaysia.
● The 2024 edition of the famous competition featured six teams: Japan, Pakistan, Canada, South
Korea, New Zealand, and Malaysia, who hosted the event. Japan won the championship, with
Pakistan finishing second.
Malaysia came in third, followed by New Zealand, South Korea, and Canada in the final standings.
About The Sultan Azlan Shah Trophy

● The Malaysia Hockey Confederation organizes the Sultan Azlan Shah Trophy, which invites six
countries to compete.
● It began as a biennial competition in 1983 but grew in popularity to become an annual event in 1999.
● The trophy is named after Sultan Azlan Shah, the former Sultan of Perak, Malaysia, who was a
hockey pioneer in Asia and served as president of the Asian Hockey Federation from 1990 to his
death in 2014.
● The competition takes place every year in Ipoh, Malaysia's capital of Perak. Australia is the
competition's most successful team, having won ten times, followed by India with five wins and
Pakistan with three.
Maximus Magnus Carlsen wins ten in-a-row to become a clear champion at Superbet Rapid and Blitz
2024
● Magnus Carlsen won ten games in a row to win the Grand Chess Tour Superbet Rapid and Blitz
2024.
● He scored 26/36, finishing a half point ahead of Wei Yi (CHN).
● Despite being 2.5 points ahead of Carlsen, he scored 1.5/2 in the first two games, then he lost to
Jan-Krzysztof Duda (POL).
● He drew the last two games against Anish Giri (NED) and Arjun Erigaisi to become a clear
champion.
● Duda finished third scoring 19.5/36.
.
● R Praggnanandhaa scored a crucial victory against Wei in the penultimate round.

● He scored 19/36 to finish fourth.
● Arjun fifth 18/36.
Chess: P Shyaamnilkhil becomes India's 85th Grandmaster
● P Shayaamnikhil became India's 85th Grandmaster by completing his third and final GM norm in the
just-concluded Dubai Police Masters chess tournament, ending a 12-year-wait for the player who
took to the sport as an eight-year-old.
● Shyaamnikhil needed just one win and eight draws to complete the long-overdue GM title which he
achieved in the tournament.
● The 31-year-old conjured the requisite 2500 ELO rating points, the minimum requirement to be a
GM, way back in 2012 with two Grandmaster norms but for the third one, he had to wait for 12 years.
UN Proclaims 25th May As World Football Day
● The United Nations General Assembly has proclaimed 25th May as the World Football Day, by
adopting a resolution during the 80th plenary meeting of the General Assembly in New York.
● The year 2024 marks the 100th anniversary of the first international football tournament in history
with the representation of all regions as part of the 1924 Summer Olympic Games, held in Paris.
● The resolution was passed unanimously by the 193-member General Assembly.
● Taher M. El-Sonni, Permanent Representative of the State of Libya to the United Nations,
introduced the draft resolution under Sport for Development and Peace: building a peaceful and
better world through sport and the Olympic ideal during the meeting.
Italian Open: Iga Swiatek wins third title after beating Sabalenka in the final
● Iga Swiatek defeated Belarusian Aryna Sabalenka in the final by 6-2, 6-3 to win her third Italian
Open title.
● After Serena Williams, Swiatek became the first woman to win the Madrid and Rome titles back to
back.
● It is the 21st title of Iga Swiatek’s career.
● Alexander Zverev of Germany won the Men’s title after defeating Chile’s Nicolas Jarry by 6-4, 7-5.
● Marcel Granollers and Horacio Zeballos clinched Men’s doubles while Sara Errani and Jasmine
Paolini won the Women’s doubles title.
● Italian Open, also known as the Rome Masters is a professional tennis tournament.
Para Worlds: Deepthi Jeevanji Smashes World Record, Yogesh Kathuniya Clinches Silver
.
● Para-athlete Deepthi Jeevanji of India created a world record of 55.07 seconds in the category of
women’s 400m T20 at the ongoing Para Athletics World Championship 2024 in Kobe, Japan.
● Jeevanji won the gold medal in the women's 400-meter T20 category with a timing of 55.06 seconds.
Jyoti Ratre, 55, becomes the oldest Indian woman to conquer Mount Everest
● Jyoti Ratre, an entrepreneur and fitness enthusiast from Madhya Pradesh, has become the oldest
Indian woman to conquer Mount Everest.
● Ratre's accomplishment comes precisely six years after Sangeeta Bahl, at 53, earned the title of
‘India’s oldest woman to climb Mount Everest' on May 19, 2018.
● This was Ratre's second attempt to summit the highest peak in the world.
Dipa Karmakar becomes the first ever Indian gymnast to win a gold medal at the Asian Championships
● Dipa Karmakar won the gold medal in the vault event, making her the first Indian gymnast to secure
the continental title at the Asian Women's Artistic Gymnastics Championships in Tashkent.
● The 30-year-old Dipa, who placed eighth with a score of 12.650 in the qualification round, achieved
an identical score of 13.566 in both of her attempts during the final, resulting in an overall score of
13.566.
● Dipa was followed by North Koreans Kim Son Hyang, who scored 13.466 after a 0.100 penalty, and
Jo Kyong Byol, who scored 12.966.
Indian mixed 4x400m team sets National record
● In a remarkable display of athleticism, the Indian mixed 4x400m relay team comprising Muhammed
Ajmal, Jyothika Sri Dandi, Amoj Jacob, and Subha Venkatesan clinched the gold medal at the 2024
Asian Relay Championships held in Bangkok, Thailand.
● The quartet achieved this feat by clocking an impressive time of 3:14.12, thereby surpassing the
previous national record of 3:14.34.
● Notably, this record-breaking performance betters the mark set by Ajmal, Vithya Ramraj, Rajesh
Ramesh, and Subha, who secured a bronze medal at the Asian Games in Hangzhou the preceding
year.
IOC launches ‘Let’s move India’ campaign with Reliance Foundation and Abhinav Bindra
● The International Olympic Committee (IOC) has teamed up with the Reliance Foundation and the
Abhinav Bindra Foundation to introduce the "Let's Move India" campaign, encouraging everyone to
rally behind the Olympians gearing up for the Paris Olympics.
● This initiative aims to inspire the public to show their support for the athletes competing in the
.
upcoming Olympic Games in Paris.

● Abhinav Bindra, India's first individual Olympic gold medalist and a member of the IOC Athletes'
Commission, has joined forces with the IOC for this endeavor.
Women's Tennis Association Multi-Year Partnership with Saudi Arabia’s PIF
● The Women’s Tennis Association (WTA) has agreed to a multi-year partnership with Saudi Arabia’s
Public Investment Fund (PIF).
● This landmark deal marks PIF as the first-ever naming partner of the WTA rankings.
● With this agreement, PIF now becomes the naming partner for both the WTA and ATP rankings,
having entered a strategic partnership with the ATP in February.
● The partnership follows the announcement that Saudi Arabia will host the WTA Finals for the next
three years.
About the Women's Tennis Association
● The Women's Tennis Association is the principal organizing body of women's professional tennis.
● It governs the WTA Tour, the worldwide professional tennis tour for women.
● Founded by Billie Jean King
● The WTA is headquartered in St. Petersburg, Florida, United States.
Charles Leclerc achieves a historic victory at the Monaco Grand Prix.
● Charles Leclerc, the Ferrari driver, has made history by becoming the first Monegasque driver to win
the Monaco Grand Prix since Louis Chiron in 1931, ending a remarkable drought of 92 years.
● McLaren's Oscar Piastri finished second, trailing Leclerc by 7.1 seconds, while Ferrari's Carlos Sainz
secured third place.
2024 Grand prix Winners:
GRAND PRIX WINNER CAR
Bahrain Max Verstappen RED BULL RACING HONDA

RBPT
Saudi Arabia Max Verstappen RED BULL RACING HONDA

RBPT
Australia Carlos Sainz FERRARI
.
Japan Max Verstappen RED BULL RACING HONDA

RBPT
China Max Verstappen RED BULL RACING HONDA
RBPT
Miami Lando Norris MCLAREN MERCEDES
Emilia Romagna Max Verstappen RED BULL RACING HONDA

RBPT
Monaco Charles Leclerc FERRARI
Dipa Karmakar secured a historic gold medal at the Asian Gymnastics Championships.
● Historic Achievement: Dipa Karmakar secures India's first-ever gold at the Asian Championships.
● Dipa scored an average of 13.566 points, clinching gold in the women's vault.
● Silver and bronze medals claimed by North Korean athletes with impressive scores.
Hayley Matthews And Muhammad Waseem Named ICC Players Of The Month For April 2024
● Hayley Matthews, the captain of the West Indies team, has been awarded the ICC Women’s Player
of the Month for her outstanding all-round performances that were instrumental in the West Indies’
triumph in Pakistan across both the ODI and T20I series.
● Matthews clinched her third ICC Women’s Player of the Month title following a series of remarkable
all-round performances in April, amassing 451 runs and claiming 12 wickets across ODIs and T20Is.
Muhammad Waseem: ICC Men’s Player of the Month
● Muhammad Waseem, the captain and opener for the UAE team, has been honoured as the ICC
Men’s Player of the Month for his remarkable batting prowess that propelled the UAE to victory in the
ACC Premier Cup.
● Waseem becomes the first UAE player to claim this accolade, courtesy of a series of powerful
batting performances that led his team to clinch the ACC Premier Cup in Oman.
OBITUARIES
Former Union Minister Sreenivasa Prasad Passes Away
.
• V. Srinivas Prasad, Bharatiya Janata Party (BJP) Member of Parliament (MP) and former Union
Minister, passed away at the age of 76 in Bengaluru, Karnataka.
• Prasad was born on August 6, 1947, in Ashokapuram, Mysore, in the Kingdom of Mysore, India.
• He first contested Assembly elections as an independent in 1974.
• He joined the Janata Party in 1976, then switched to the Congress in 1979.
Renowned U.S. Author of 'The New York Trilogy', Paul Auster, Passed Away
• Paul Auster, the prolific American novelist behind the acclaimed “New York Trilogy," has passed
• Paul Auster was born in Newark, New Jersey.
• Auster wrote more than 30 books and was shortlisted for the Booker Prize and voted into the
American Academy of Arts and Letters.
Titanic' and 'Lord of the Rings' Actor Bernard Hill Passed away
• Bernard Hill, actor known for his roles in "The Lord of the Rings" and "Titanic," passed away at the
age of 79.
• Hill was born in Blackley, Manchester, England.
• Hill portrayed Théoden, King of Rohan, in "The Lord of the Rings" film trilogy.
• He played Captain Edward Smith, the captain of the Titanic, in the 1997 film "Titanic."
• He also played Luther Plunkitt, Warden of San Quentin Prison, in Clint Eastwood's film "True
Crime."
Argentina's World Cup-winning Coach César Luis Menotti Passed Away

• The legendary coach who led Argentina to its first World Cup title in 1978, César Luis Menotti, has
passed away at the age of 85.
• Known as "El Flaco" ("Slim"), Menotti played for several prominent clubs including Rosario Central,
Boca Juniors, and Santos.
• He began his coaching career with Newell’s Old Boys and won the Argentine championship with
Huracan in 1973.
Renowned Hollywood Mentor and 'King of the Bs', Roger Corman, Passed Away
• Roger Corman, the “King of the Bs” who helped turn out such low-budget classics as “Little Shop
of Horrors” and “Attack of the Crab Monsters” and gave many of Hollywood’s most famous actors
and directors early breaks, has passed away at the age of 98.
.
• Roger Corman was born on April 5, 1926, in Detroit, Michigan, United States.
• He was an American film director, producer, and actor.
• Known by various monikers such as "The Pope of Pop Cinema," "The Spiritual Godfather of the
New Hollywood," and "The King of Cult."
Former Deputy Chief Minister of Bihar, Sushil Kumar Modi, Known as 'Bihar's Bhamashah', Passes
Away
● Senior Bharatiya Janata Party (BJP) leader and former Bihar Deputy Chief Minister Sushil Kumar
Modi passed away in New Delhi at the age of 72.
● Sushil Kumar Modi was born on January 5, 1952, in Bihar.
● He served as the Deputy Chief Minister of Bihar from 2005 to 2013 and again between 2017 and
2020.
Former Gujarat Governor and Longtime Congress Leader Kamla Beniwal Passed away
● Veteran Congress leader and former governor of Gujarat Kamla Beniwal passed away at the age
of 97.
● Kamla Beniwal was born on January 12, 1927, in Gorir, Jhunjhunu district, Rajputana Agency,
British India.
● She joined the Indian National Congress at 15 and actively participated in the Quit India
Movement.
● She became Rajasthan's first woman minister in 1954 at the age of 27.
● For a decade, from 1980 to 1990, she was a cabinet minister in the Rajasthan government.
● Beniwal served as a minister in various capacities, including Deputy Chief Minister of Rajasthan
in 2003.
● Kamla Beniwal made history as the first woman governor of any northeastern state.
● Apart from Gujarat, she served as the governor of Tripura and Mizoram.
● Beniwal received the Tamra Patra Award from former Prime Minister Indira Gandhi in recognition
of her significant contribution to the freedom struggle.
Former Indian Newspaper Society President Naresh Mohan passes away
● Distinguished media veteran and former President of the Indian Newspaper Society (INS),
Naresh Mohan, passed away at the age of 82.
● Mohan served as the president of the INS during the term 1990-91.
● He also served as executive president at Hindustan Times, chairman at United News of India and
.
as member of the Press Council of India.

About INS :
● Founded : 1939
● President : Rakesh Sharma
● INS acts as the central organisation for newspapers in India, and plays a major role in protecting
and promoting freedom of the press in the country.
Nobel Prize-winning author Alice Munro Passed away
● Alice Munro, first Canadian author to win the Nobel Prize in literature, has passed away at the
age of 92 in Ontario.
● Alice Munro was born on July 10, 1931 in Ontario.
● The Nobel committee called Munro a “master of contemporary short stories”.
Awards & Honors :
● She was one of Canada's most renowned writers and received the Nobel Prize in Literature in
2013.
● Her first major break-through came in 1968, when her short story collection, Dance of The Happy
Shades, about life in the suburbs of western Ontario, won Canada’s highest literary honour, the
Governor General’s Award.
● It was the first of three Governor General’s Awards she would win in her lifetime.
● In 2009, Munro won the Man Booker Prize International Prize for lifetime achievement.
Former ICICI Bank Chairman and Legendary Banker N Vaghul Passed Away
● Legendary Indian banker and former chairman of ICICI Bank Narayanan Vaghul passed away in
Chennai at the age of 88.
● Vaghul was born in Madras (present-day Chennai) in British India in 1936.
● Between 1981 and 1985 he headed the development bank ICICI Ltd. as its Chairman & CEO.
● He was a recipient of the Padma Bhushan, India's third highest civilian honour, in 2010.
Iranian President Ebrahim Raisi Passed away in Helicopter Crash
● Iran’s 8th President Ebrahim Raisi tragically died in a helicopter crash in the mountainous
northwestern region of Iran.
● Along with Raisi, his foreign minister Hossein Amirabdollahian was also killed.
● In the aftermath of his death, Mohammad Mokhber, 68, was appointed as the Interim President
.
of Iran for a period of 50 days

● Raisi, who was seen as a prominent figure in Iran's political arena, was often considered a
potential successor to Supreme Leader Ayatollah Ali Khamenei.
● Ebrahim Raisi was born on 14 December 1960 in the Noghan district of Mashhad.
Vicco Chairman Yashwant Pendharkar Passed Away
● Yashwant Pendharkar, chairman of ayurvedic cosmetics giant Vicco Laboratories, passed away
at the age of 85 in Nagpur.
● He became the Chairman of the Vico Company in 2016.
● During his tenure, the company received many export-related awards including the prestigious
'Brand of the Year 2023' award.
About Vicco Group :
● Founded : 1952
● Vicco Laboratories, initially known as Vishnu Industrial Chemical Company, is renowned for
manufacturing Indian Ayurvedic herbal hygiene, healthcare, and other products such as herbal
toothpaste and herbal tooth powder.
Kabosu, Dog Behind 'Doge' Meme And The Face Of Dogecoin, Passed away
● Kabosu, the famous Shiba Inu dog behind Dogecoin and various meme tokens, has passed
away.
● Atsuko Sato, the owner, announced the death of the 18-year-old dog, who gained internet fame
as the inspiration for the "Doge" meme.
● Kabosu, a Shiba Inu dog, became widely known due to a viral photograph, which originated the
Doge meme.
● This photograph also influenced the creation of cryptocurrencies like Dogecoin, Shiba Inu, and
FLOKI, causing ripples in the cryptocurrency market.
About Doge (meme) :
● Doge is an Internet meme that gained popularity in 2013, featuring a Shiba Inu dog with
multicoloured text in Comic Sans font.
● Kabosu's image is the most frequently used in the meme, though variations with other Shiba Inus
are also popular.
● The Doge meme, based on a 2010 photograph of Kabosu, was named Know Your Meme's "top
.
meme" of 2013 due to its widespread popularity.

Two-Time PGA Tour Champion Grayson Murray Passed away
● Two-time PGA Tour winner Grayson Murray passed away at the age of 30.
● Grayson Colby Murray was an American professional golfer from Raleigh, North Carolina.
● Murray was regarded as one of the world’s best junior players, winning three IMG Junior World
titles in 2006, 2007, and 2008.
● He won two PGA Tour events: the 2017 Barbasol Championship and the 2024 Sony Open in
Hawaii.
About PGA Tour :
● Founded : December 2, 1929 (broke from PGA in 1968)
● Commissioner : Jay Monahan
● The PGA Tour is the organizer of professional golf tours in the United States and North America.

Important Monthly Current Affairs Capsule - December 2023

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Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

6. BANKING AND ECONOMY 76

7. AWARDS AND HONOURS 132

8. APPOINTMENTS & RESIGNATIONS 139

9. MOUS AND AGREEMENT 153

10. RANKING AND INDEXES 160

11. DEFENCE NEWS 165

12. SCIENCE & TECHNOLOGY 172

13. ACQUISITIONS & MERGERS 186

14. SPORTS NEWS 189

15. OBITUARIES 196

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Indian Navy Day: 4th December

Important Monthly Current Affairs Capsule – December 2023

UNICEF Foundation: 11th December

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Vijay Diwas: 16th December

Minorities Rights Day in India: 18th December

International Migrants Day: 18th December

Goa’s Liberation Day: 19th December

Important Monthly Current Affairs Capsule – December 2023

International Human Solidarity Day: 20th December

National Mathematics Day: 22nd December

Important Monthly Current Affairs Capsule – December 2023

Christmas Day: 25th December

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Cabinet approves Terms of Reference for the Sixteenth Finance Commission

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

long second phase of Kashi Tamil Sangamam.

Important Monthly Current Affairs Capsule – December 2023

removes arsenic when water is passed through it.

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

India’s coal demand to grow at 3.5% annually till 2026: IEA

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023

Important Monthly Current Affairs Capsule – December 2023