Daily GK Update- 8th Feb, 2024

NATIONAL UPDATES:

 

1. Lok Sabha passes Finance Bill – 2024: The Bill seeks to continue the existing rates of income tax for the financial year 2024-2025 and to provide for certain relief to taxpayers and to make amendments in certain enactments. The Bill had been moved by Finance Minister Nirmala Sitharaman. The Finance Bill, 2024, does not propose any change in the tax structure as the final budget will be tabled in July after the new government assumes office post the general elections in April-May.

 

2. 'Kilkari' programme launched in Gujarat and Maharashtra: MoS for Health Dr. Bharati Pravin Pawar launched 'Kilkari' programme, a mobile health initiative for beneficiaries, in local content, in Gujarat and Maharashtra as part of Digital Health India Programme. Kilkari is a centralized interactive voice response (IVR) based mobile health service which delivers free, weekly, time appropriate AV messages about pregnancy, childbirth, childcare to the mobile phones of beneficiaries. It is operational in 18 States and UTs.

 

3. Uttarakhand becomes first state to clear Uniform Civil Code Bill: The Uniform Civil Code (UCC), Uttarakhand, Bill 2024, which seeks to “govern and regulate the laws related to marriage and divorce, successions, live-in relationships, and matters related thereto” was passed in the Assembly following a two-day discussion. Now, the Bill will be sent to President Droupadi Murmu for her assent after which it will become a law. Although Goa is governed by a UCC (Portuguese Civil Code), the Assembly did not pass any law.

 

4. Mubadala Investment Company announces investment in Manipal Health Enterpri: Abu Dhabi's Mubadala Investment Company has confirmed its latest venture into the Indian market with an investment in Manipal Health Enterprises This move comes hot on the heels of a subsidiary of Mubadala gaining approval from India's fair-trade regulator,the Competition Commission of India

The deal, as revealed in a filing to the Competition Commission on January 15,was swiftly approved under the green channel route, facilitating immediate clearance upon submission

 

5. Aether Industries to commission 15 MW solar power plant in Gujarat: Aether Industries will commission a 15 MW solar power project (Auto-Tracker Modules) under the Captive Power Producer (CPP) segment in the Bharuch district of Gujarat with an aim to become more sustainable. Earlier, in July 2023, Aether Industries had commissioned a 16 MW solar power project (Fixed Modules) under the CPP segment and this new solar power plant under CPP will add to its renewable energy sources and further move towards sustainability. The solar power farm will be in Gujarat’s Bharuch District and spread across 60 acres. The phase-wise commissioning of the solar power plant is set to begin as early as the next financial year starting April.

 

6. 7 February – National Black HIV/AIDS Awareness Day: National Black HIV/AIDS Awareness Day is observed every year on 7 February. National HIV/AIDS Awareness Day (NBHAAD) was first observed in 1999. Theme 2024- Engage, Educate, Empower: Uniting to End HIV/AIDS in Black Communities This observance is a day to acknowledge how HIV disproportionately affects Black people.

 

INTERNATIONAL UPDATES:

 

1. Jagdeep Dhankhar inaugurates World Sustainable Development Summit in Delhi: Vice-President Jagdeep Dhankhar inaugurated the World Sustainable Development Summit in the presence of Prime Minister of Guyana Mark Phillips and Union Minister Bhupender Yadav in New Delhi. The optimum utilisation of natural resources should be a norm, ingrained not only at a wider policy level but also within the conscience and consciousness of each individual. The Summit was organised by 'The Energy and Resources Institute (TERI)'.

 

2. EAM Jaishankar to attend Indian Ocean conference in Perth: India will be participating in the forthcoming 7th edition of the Indian Ocean Conference in Perth (Australia) on February 9 -10, 2024. External Affairs Minister S Jaishankar will be heading there to attend the conference. The 'Indian Ocean Conference' is a flagship consultative forum for countries in the region. The theme for this edition is “Towards a Stable and Sustainable Indian Ocean”.

 

3. Anurag Singh Thakur kicks off 1st BIMSTEC Aquatics Championships: Union Minister for Youth Affairs and Sports Anurag Singh Thakur kicked off BIMSTEC Aquatics Championships 2024 in New Delhi. The BIMSTEC Aquatics Championships is being held for the first time. The announcement for the same was made by Prime Minister Shri Narendra Modi during the 4th BIMSTEC Summit in 2018, where he announced the organizing of the BIMSTEC Youth Water Sports competition in India. The event was initially proposed for the year 2021, however, it was later postponed to 2024 due to the outbreak of the COVID-19 pandemic across the world.

 

4. Iran announces visa-free travel for Indian nationals: The Iranian government has approved a visa-free policy for Indian nationals. This policy will be only valid for tourism purposes. With this exemption, Indian citizens holding ordinary passports can enter Iran without a visa once every six months for a maximum stay of 15 days. In December, Iran approved a new visa-free programme for India and 32 other countries, including the United Arab Emirates, Saudi Arabia, Indonesia, Japan, Singapore and Malaysia.

 

 

 

 

 

OTHER UPDATES:

DEFENCE

 

1. India Decided to Fence its Border with Myanmar: The Indian government has decided to build a fence or close border along the 1,643-kilometer border with Myanmar, according to Union Home Minister Amit Shah. Several thousand anti-Junta rebels have fled to India since the Myanmar military coup in 2021 and tribal militants are also believed to enter into India through the porous border.

 

2. IIT Madras to create India’s first 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 indigenization in the defence sector. The objective is to increase the accuracy of 155 mm shell within a Circular Error Probable (CEP) of 10 m. At present, ammunitions developed in India has a CEP of 500 m. Another goal is to increase the lethality at the terminal impact point.

 

SPORTS

 

1. Tawangchu Tides International Kayaking Championship-2024 begins in AP: The three-day Tawangchu Tides International Kayaking Championship-2024 kick started in Tawang District, Arunachal Pradesh. 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”.

 

SCIENCE AND TECHNOLOGY

 

1. IIT Kanpur develops India’s first hypervelocity expansion tunnel test facility: The Indian Institute of Technology Kanpur (IITK) has achieved a major milestone by successfully establishing and testing India’s first hypervelocity expansion tunnel test facility. With this technical facility developed by IIT Kanpur, hypersonic cruise missiles can be prepared for precise targeting. According to IITK, the facility is capable of generating flight speeds between 3-10 km/s, simulating the hypersonic conditions encountered during atmospheric entry. Thus, it is a valuable test facility for ongoing missions of the Indian Space Research Organization (ISRO) and Defence Research and Development Organization (DRDO) including Gaganyaan, RLV (Reusable Launch Vehicle), and hypersonic cruise missiles.

 

BANKING AND FINANCE

 

1. RBI keeps repo rate unchanged at 6.75%: The Reserve Bank of India(RBI) announced its bi-monthly policy today with the Monetary Policy committee. MPC retained the Policy REPO Rate unchanged at 6.5%. Marginal standing facility and Bank rate was kept at 6.75%. RBI Governor Shaktikanta Das in a Monetary Policy statement pegged Real GDP Growth for FY 2024-25 at  7%.

 

2. CCI approves acquisition of 70% stake by Zurich Insurance Company Ltd. in Kotak Mahindra General Insurance: The Competition Commission of India (CCI) has approved acquisition of 70% stake by Zurich Insurance Company Ltd. (Acquirer) in Kotak Mahindra General Insurance Company Limited (Target). The Proposed Combination involves an acquisition of a majority stake in Target by the Acquirer from Kotak Mahindra Bank Limited. Pursuant to the Proposed Combination, the Acquirer will acquire a 51% stake in Target (through a combination of fresh growth capital and share purchase). In addition to the above, the Acquirer will also acquire an additional stake of up to 19% in the Target, over a period of time.

 

3. HDFC Bank rolls out 4 SME credit cards for entrepreneurs, freelancers: India’s largest private sector bank, HDFC Bank has launched four new small and medium enterprises (SME)-focused credit cards to cater to the specific needs of entrepreneurs, freelancers, and professionals. The biggest USP of the cards is that they will provide 55 days of interest-free credit, the highest number of days offered by any bank. In addition, they also provide savings on core business spends like utility bills, GST, income tax, vendor payments, business travel, and business productivity tools.

 

AWARDS AND HONOURS

 

1. Dr. Bina Modi selected as ‘Outstanding Business Woman of the Year 2023’: Chairperson of Modi Enterprises, Bina Modi has been honored with the ‘Outstanding Business Woman of the Year 2023’ award by the Defence Minister of India, Rajnath Singh. The award, presented to her at a prestigious conference by the Indo-American Chamber of Commerce (IACC) on ‘Strengthening Indo-US Relationship in Amritkal-Aatmanirbhar Bharat. Bina Modi, the Chairperson of Modi Enterprises – KK Modi Group, also heads the Group’s FMCG giant Godfrey Phillips India and one of India’s agro-chemical leaders, Indofil, as the Chairperson and Managing Director.

 

2. PT Usha honoured with lifetime award by SJFI & DSJA: Legendary sprinter and IOA president PT Usha received the ‘Lifetime Achievement’ award from the Sports Journalists Federation of India and the Delhi Sports Journalists Association. Usha is the fifth recipient of this award after tennis legend Vijay Amritraj, badminton icon Prakash Padukone, legendary cricketer Sunil Gavaskar and iconic sprinter Milkha Singh. Usha, throughout her memorable career between 1977 and 2000, won 103 international medals for India. She also claimed four gold and seven silver medals at the Asian Games and competed across three editions of the Olympics.