Daily GK Update- 5th Feb, 2024

 

NATIONAL UPDATES:

 

1. Uttarakhand Police Adopt Self-Balancing e-scooters For Smart Patrols: Abhinav Kumar, Director General of Police, Uttarakhand, has flagged off four cutting-edge self-balancing electric scooters from the Police Headquarters to patrol the vibrant streets of Haridwar. For the safety of tourists and local citizens, police in Haridwar will patrol with self-balancing scooters. Donated by Utkarsh Small Finance Bank, these eco-friendly electric scooters are equipped to navigate narrow streets, allowing police personnel to efficiently monitor walking paths, Ganga ghats, and crowded areas of the city. The partnership between the police department and Utkarsh Small Finance Bank exemplifies a commitment to community welfare and corporate social responsibility. These scooters, which can move easily in narrow streets, will help in crowd management. Apart from this, this electric scooter is also environment friendly.

 

2. PM Modi inaugurates CLEA-CASGC 2024 Conference: Prime Minister Narendra Modi has inaugurated the Commonwealth Legal Education Association (CLEA) – Commonwealth Attorneys and Solicitors General Conference (CASGC) 2024 at Vigyan Bhawan, New Delhi. The theme of the conference is “Cross-Border Challenges in Justice Delivery”. This conference has deliberated on important issues pertaining to law and justice like judicial transition and the ethical dimensions of legal practice; executive accountability; and revisiting modern-day legal education, among others. This Conference have participated of Attorney Generals and Solicitors from the Commonwealth nations spanning the Asia-Pacific, Africa, and the Caribbean along with various international delegations.

 

3. India launches UPI Payments at Eiffel Tower in Paris: India has officially introduced the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris, marking a significant step towards realizing Prime Minister Narendra Modi’s vision of globalizing UPI. This initiative follows the digital payments sector agreement signed between India and France in July of the previous year, making France the first European country to adopt India’s UPI for retail transactions. NPCI International Payments (NIPL) has partnered with French e-commerce and proximity payments company, Lyra, to facilitate the acceptance of UPI payments in France. The strategic tie-up ensures a seamless integration of the UPI payment mechanism, starting with the Eiffel Tower.

 

4. Bandhan Bank appoints Santosh Nair as its consumer lending and mortgages head: Bandhan Bank has appointed Santosh Nair, chief executive of HDFC Sales Private Limited, as the head of its consumer lending and mortgages. Bandhan Bank’s Shantanu Sengupta will step down from the post of Head. However, he will assist the bank in a smooth transition and will leave the organization in early FY2024–25 to pursue opportunities outside the bank. Nair, a veteran with over three decades of experience in banks and financial services companies, will drive Bandhan Bank’s housing finance portfolio and also the retail lending franchise and distribution. Earlier, Santosh Nair was the CEO of HDFC Sales and also worked at HDFC and HDFC Bank in his three decades of experience in the industry.

INTERNATIONAL UPDATES:

 

1. Mukesh Ambani tops Brand Guardianship Index 2024 among Indians: Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani has been ranked first among all the Indians and second globally in the Brand Guardianship Index 2024 compiled by Brand Finance. The Brand Guardianship Index is a global recognition of CEOs, who are building business value in a sustainable manner by balancing the needs of all stakeholders – employees, investors, and the wider society. Ambani was ranked ahead of global majors like Satya Nadella of Microsoft, Google’s Sundar Pichai, Apple’s Tim Cook and Tesla’s Elon Musk, as well as fellow Indians such as N Chandrasekaran of Tata Group and Anish Shah of Mahindra Group, among many others.

 

2. 4 February – World Cancer Day: World Cancer Day is observed globally on February 4 each year. Objective – To raise awareness about cancer, its prevention, and the importance of early detection. The theme for the 2022-2024 period is “Close the Care Gap: Everyone Deserves Access To Cancer Care”. The sub-theme, “Together, we challenge those in power,” emphasises accountability from leaders to allocate essential resources for eradicating cancer.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Air Force to conduct Exercise Vayu Shakti-2024: The Indian Air Force will be conducting Exercise Vayu Shakti-24 on 17 February 2024 at the Pokhran Air to Ground Range, near Jaisalmer, Rajasthan. The last edition of exercise Vayu Shakti was held on 16 February 2019.

The exercise will also showcase joint operations with the Indian Army. This year, the exercise will see participation by 121 aircraft, including the indigenous Tejas, Prachand and Dhruv. Other participating aircraft would include the Rafale, Mirage-2000, Sukhoi-30 MKI, Jaguar, Hawk, C-130J, Chinook, Apache and Mi-17. Indigenous Surface to Air Weapon systems Akash and Samar will demonstrate their capability to track and shoot down an intruding aircraft.

 

SPORTS

 

1. India finished fifth at FIH Hockey5s World Cup: The first ever men’s FIH Hockey5s World Cup came to a thrilling conclusion with the Netherlands overcoming Malaysia to lift the trophy.

Malaysia can be justifiably proud of their silver medal. Six of their players were part of the squad that clinched the gold medal at the 2018 Youth Olympic Games in Buenos Aires, which was played in the Hockey5s format. Earlier, India had a point to prove against Egypt, having lost to them in the pool stage, and they came out firing in a 6-4 win for 5th place.

 

 

 

SCIENCE AND TECHNOLOGY

 

1. Russian cosmonaut sets world record for time spent in space: Russian cosmonaut Oleg Kononenko has broken the world record for the most cumulative time spent in space, Russia Space agency Roscosmos reported. The 59-year-old has now spent more than 878 days and 12 hours in space, surpassing fellow Russian Gennady Padalka, who set the previous record of 878 days, 11 hours, 29 minutes, and 48 seconds in 2015. Kononenko has made five journeys to the International Space Station, dating back to 2008. Kononenko’s current trip to the ISS began on September 15, 2023, when he launched alongside NASA astronaut Loral O’Hara and Roscosmos compatriot Nikolai Chub. By the end of this expedition, the cosmonaut is expected to become the first person to accumulate 1,000 days in space.

 

BANKING AND FINANCE

 

1. ESAF Small Finance Bank and Edelweiss Insurance partner to offer Life Insurance: ESAF Small Finance Bank has partnered with a bancassurance collaboration with Edelweiss Tokio Life Insurance. The partnership plays a crucial role in ESAF Small Finance Bank’s strategy to broaden its range of offerings, demonstrating its commitment to providing financial security to a more extensive segment of the unbanked and under-banked population. The aim of this partnership is to widen the accessibility of innovative life insurance products, capitalizing on ESAF Small Finance Bank’s strong presence across rural markets in India.

 

2. UPI transactions reach a record Rs 18.41 trillion in January: NPCI: Unified payments interface (UPI) has started 2024 on a strong note, with transaction spends staying over the ₹18-lakh crore mark and touching a new record high. Transactions worth ₹18.41-lakh crore were processed during January, nearly 1 per cent higher than the previous record of ₹18.23-lakh crore in December 2023. The value of transactions was 42 per cent higher on year, as per data by the National Payments Corporation of India (NPCI). The number of transactions on the UPI network remained flat on month at 1,202 crore for January. On year, the volume of transactions was 52 per cent higher.

 

3. Government Boosts Sovereign Gold Bond Issuance to 3,500 Crore in FY 25: The Indian government has decided to substantially increase the issuance of Sovereign Gold Bonds (SGB) for the upcoming fiscal year. The allocation for SGBs has been more than doubled, rising from ₹1,500 crore in the financial year ending March 31, 2023, to a significant ₹3,500 crore for the fiscal year 2024-25. Incidentally, gold imports have jumped 20 per cent to 781 tonnes last year even as the run-away prices have suppressed demand, according to the World Gold Council data. The physical domestic demand for gold still ranges between 700-750 tonnes per annum and has not been impacted much by issuance of SGBs.