Daily GK Update- 6th Jan, 2024

 

NATIONAL UPDATES:

 

1. NHAI collaborates with NRSC to develop ‘Green Cover Index’: The National Highways Authority of India (NHAI) has inked a MoU with ISRO’s National Remote Sensing Centre (NRSC) to develop and report a ‘Green Cover Index’ for the extensive network of the Indian National Highways. NHAI’s collaboration with the Indian Space Research Organization’s (ISRO) satellite centre data will take three years to map the entire highway network, promoting environmental awareness and sustainable development. The tech-enabled Green Cover Index The NRSC will undertake a comprehensive pan-India estimation of green cover, referred to as the ‘Green Cover Index’ for National Highways using high-resolution satellite imagery. The index will witness the use of emerging technologies to enhance in-situ data collection, supplement plantation management, and monitoring, including performance audits conducted by NHAI.

 

2. UP distributed loans over Rs 6 lakh crore to boost MSME sector: The Yogi 2. government has distributed loans totaling Rs 6,55,684 crore in the last six and a half years to boost the Micro, Small, and Medium Enterprises (MSME) sector in Uttar Pradesh. The sector has provided employment to 2.5 crore youths during the period. The government has been providing loans to aspiring entrepreneurs every year, with the amount exceeding the target each time. The MSME sector, which was dying of neglect during the previous governments, got a fresh lease of life when Chief Minister Yogi Adityanath took over in 2017 and launched various initiatives such as the One District, One Product (ODOP) scheme, Mukhyamantri Gramodyog Rojgar Yojana, Mukhyamantri Yuva Swarojgar Yojana and Vishwakarma Shram Samman Yojana among others.

 

3. Shashi Singh appointed as new president of AIRIA: Shashi Singh has been elected as the president of the All India Rubber Industries Association (AIRIA), the apex body for rubber industries in India. Singh will be succeeding Ramesh Kejriwal as the President of AIRIA, playing a pivotal role in steering the association forward. Prior to assuming the role of President, Shashi Singh held the position of senior vice president within AIRIA. His extensive involvement in the association includes serving on various committees and acting as the chief convener for the western region, overseeing the organization the National Rubber Conference in 2019.

 

4. Sanjiv Aggarwal appoints as MD & CEO of IIFL: Government-backed National Investment and Infrastructure Fund Limited has appointed Sanjiv Aggarwal as its chief executive officer and managing director. Aggarwal succeeds Rajiv Dhar, who served as interim CEO and MD from May 2023. Aggarwal had previous stints with Citigroup and ANZ Investment Bank in the Indian energy and infrastructure sectors. The National Infrastructure and Investment Fund (NIIF) is India’s first-ever sovereign wealth fund (SWF). The state-owned fund was set up by the Indian Government in the year 2015. NIIF, which is 49% owned by the government, manages over $4.9 billion of equity capital commitments across its four funds—master fund, fund of funds, strategic opportunities fund, and India-Japan Fund.

 

INTERNATIONAL UPDATES:

 

1. EAM Jaishankar to represent India at Uganda NAM Summit in January 2024: India’s External Affairs Minister Dr S Jaishankar will represent India at the upcoming Non-Aligned Movement (NAM) Summit in Uganda’s capital Kampala January 2024. Scheduled from January 17 to 20, 2024, the 19th edition of the NAM summit will be preceded by a crucial foreign ministerial meeting from January 15. Additionally, the African country will host the Third South Summits and G77 meeting from January 21 to 23. At the 2019 NAM summit in Azerbaijan, and the 2016 NAM Venezuela summits, India was represented at the Vice President level. Uganda will be the chair of the NAM grouping from 2024-2027. The African country was chosen to host the 19th Non-Aligned Movement Summit on October 19, 2019, during the meeting held in Baku, Azerbaijan.

 

2. 6 January – World Day of War Orphans: World Day of War Orphans is observed every year on January 6 to highlight the plight of children orphaned by wars and conflicts. The day aims to raise awareness about the trauma experienced by orphans and the social, psychological and physical obstacles they often need to overcome to lead a normal life. The World Day of War Orphans was founded by the French organisation SOS Enfants en Detresses. The organisation works to help children in distress. Organizations like UNICEF, the Red Cross, and various NGOs have been actively involved in supporting war orphans by providing assistance, advocating for their rights, and working to ensure their well-being and integration into societies.

 

3. India and Mauritius to Jointly Build and Launch Small Satellite: India has signed an agreement with Mauritius to jointly develop a small satellite, which will be launched by ISRO in early 2024. The cooperation will be between ISRO and Mauritius Research and Innovation Council (MRIC). Satellite Development and Launch Timeline ..

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army Chief Gen MM Naravane’s Book “Four Stars of Destiny”: Excerpts from former Indian Army Chief Gen MM Naravane’s upcoming book ‘Four Stars to Destiny’ published recently provide hitherto unknown aspects of high-level decision making during the 2020 China border crisis and other key national security developments then. Key Aspects ..

 

SCIENCE AND TECHNOLOGY

 

1. NASA Tests Rotating Detonation Rocket Engine for Future Mars Missions: NASA has successfully tested a Rotating Detonation Rocket Engine (RDRE) that can potentially halve travel time to Mars. The engine detonates fuel in explosive bursts instead of continuous combustion to achieve more powerful and efficient thrust. Key Details About RDRE ..

 

2. ISRO Tests Fuel Cell in Space for Future Missions: The Indian Space Research Organisation (ISRO) successfully tested a fuel cell aboard a PSLV rocket launch on January 1st, 2023. The hydrogen-oxygen fuel cell generated electricity along with heat and water – all essential for human spaceflights. Ideal for Sustained ..

 

BANKING AND FINANCE

 

1. SBI raises $250 mn via Green Bonds to fund sustainable projects: State Bank of India (SBI) has raised USD 250 million through issuance of the Green Notes to fund sustainable projects. The bank has concluded the successful placement of USD 250 million senior unsecured Green floating rate notes, referred to as ‘The Green Notes’. This issuance, maturing on December 29, 2028, is part of SBI’s USD 10 billion medium-term note programme and was conducted through a private placement facilitated by its London branch. Green Notes were issued on a floating rate basis of 1.20 per cent above the Secured Overnight Financing Rate (SOFR) and have been listed on the India International Exchange.