NATIONAL UPDATES:
1. Cabinet approves the establishment of “Third Launch Pad”: The Union Cabinet has approved the establishment of a Third Launch Pad (TLP) at the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.The new launch pad aims to support the next generation of Indian Space Research Organisation’s (ISRO) launch vehicles and enhance the country’s capacity for human spaceflight missions.The TLP will be designed to support ISRO’s upcoming Next Generation Launch Vehicles (NGLV) and serve as a backup for the existing Second Launch Pad (SLP) at Sriharikota.The TLP will be adaptable to support not only the NGLV but also LVM3 vehicles, including those with semi-cryogenic stages, and future scaled-up versions of the NGLV. The project is expected to involve substantial industry participation, drawing on ISRO’s experience from the successful establishment of earlier launch pads, while maximizing the use of existing facilities.
2. Dr. Mansukh Mandaviya chairs first-ever CSR round table for sports development: With the objective of strengthening the Indian sports ecosystem in order to host the 2036 Olympic Games, Union Minister of Youth Affairs & Sports Mansukh Mandaviya urged corporates to adopt one sport during the first-ever corporate round-table conference in New Delhi.Mandaviya emphasized a vision to position India among the top five global sports performers by 2047, as the nation marks 100 years of independence.More than 40 corporate houses and organisations working in the sports ecosystem shared their knowledge and opinion in a first-ever Open House session with
3. Binod Kumar appointed as MD & CEO of Indian Bank: Binod Kumar has assumed office as the Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank.Prior to this, he was serving as Executive Director of Punjab National Bank (PNB). At PNB, Kumar was holding the responsibility of Corporate Banking, Treasury Division, International Banking Division, Finance Division, Data Analytics & Data warehousing.
4. Ashok Chandra appoints as MD and CEO of Punjab National Bank: Ashok Chandra has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB).Prior to these appointments, Chandra was an executive director at Canara Bank.Chandra, who joined Canara Bank as an executive director in November 2022, oversaw variousverticals, including digital banking and information technology, strategy and planning, marketing and public relations, financial inclusion, micro, small, and medium enterprises (MSME), retail assets, agriculture, and priority sectors.Chandra began his banking career at the erstwhile Corporation Bank in September 1991 as a probationary officer.
5. Nripendra Mishra reappointed Chairperson of PM Museum & Library Society: The Government of India has reconstituted the Executive Council of the Prime Ministers Museum and Library Society and reappointed Nripendra Mishra as the Chairperson of the Executive Council of the Society.Former Union Minister Smriti Irani, ex-NITI Aayog Vice-chairman Rajiv Kumar, retired Army General Syed Ata Hasnain, renowned filmmaker Shekhar Kapur, and Vasudev Kamath fromSanskar Bharati are among the prominent new members added to the PMML society.The Executive Council is the highest decision-making body of the Prime Ministers Museum and Library Society.The key decision-making body, led by Prime Minister Narendra Modi as its president and Defence Minister Rajnath Singh as vice-president, has also expanded. The executive council, which previously had 29 members, has now increased to 34 members.
INTERNATIONAL UPDATES:
1. PM Modi inaugurated Bharat Mobility Global Expo 2025: Prime Minister Narendra Modi has inaugurated the ‘Bharat Mobility Global Expo 2025′, the largest mobility expo in the country, at Bharat Mandapam in New Delhi.The Expo, to be held from January 17-22 across three separate venues — Bharat Mandapam and Yashobhoomi in Delhi, and India Expo Center and Mart in Greater Noida — will host over nine concurrent shows, over 20 conferences and pavilions.In addition, the Expo will also feature states sessions to showcase policies and initiatives in the mobility sector to enable collaboration between industry and regional levels.It is an industry-led and government-supported initiative and is being coordinated by Engineering Export Promotion Council (EEPC) of India with the joint support of various industry bodies and partner organisations.Lokpal of India celebrates 1st Foundation Day on 16th JanuaryThe Foundation Day of the Lokpal of India was held for the first time on 16th January at Manekshaw Centre, New Delhi in the august presence of the Chief Justice of India, Shri Justice Sanjiv Khanna.
OTHER UPDATES:
DEFENCE
1. India tests micro missile system Bhargavastra to counter Swarm drone: Indigenously developed micro missile system Bhargavastra was successfully tested at the Gopalpur Seaward firing range, Odisha.The micro missile system has been developed to counter the threat of swarm drone attacks.The Bhargavastra has been developed by Economic Explosives Ltd (EEL), a subsidiary of the Nagpur-based Solar Group. It has been designed and developed indigenously and is said to be an effective low-cost weapon system against swarm drone attacks.
2. What is Swarm Drone Attack?: The unmanned aerial vehicle (UAV) or drone is a remotely controlled aerial object which can be used for multiple purposes. The use of drones in the battlefield was first used by the Americans to kill top leaders of Al-Qaeda and Talibans in Afghanistan The swarm drone as a weapon was recently used by the Iranians to successfully breach the famous Iron Dome anti-missile system of Israel.
SPORTS
1. Arjun Erigaisi stuns Magnus Carlsen, Fabiano Caruana to win online chess event: Indian grandmaster Arjun Erigaisi achieved a remarkable feat in the online chess community by defeating World No. 1 Magnus Carlsen and World No. 2 Fabiano Caruana in the Titled Tuesday weekly blitz competition conducted by Chess.com.His only loss in the tournament came against the American grandmaster Hikaru Nakamura, which came in the seventh round. Nakamura also finished the tournament with 10 points, but the Indian grandmaster had better tiebreaks. He defeated Magnus Carlsen with black pieces in round 10 and after that, he defeated Fabiano Caruana in the 11th and last round.The Titled Tuesday is an online competition for titled chess players who have legal accounts with Chess.com. The players are asked to make themselves available on Zoom calls due to fair play reasons.
SCIENCE AND TECHNOLOGY
1. Pixxel launches India’s 1st private satellite constellation with SpaceX: Google-backed Indian space start-up company Pixxel has become the first Indian private company to launch its commercial satellite constellation named Firefly on board a Space X rocket.The SpaceX rocket also carried the world’s first commercial satellite for surveillance of space objects orbiting the earth, made by an Indian space company, Digantara.The satellites were launched aboard the Transporter-12 rideshare mission of SpaceX onboard the Falcon 9 rocket from the Vandenberg Space Force Base in California, the United States of America.The satellites will be placed in a sun-synchronous orbit at roughly 550 km.
BANKING AND FINANCE
1. India to grow by 6.4% in FY25: FICCI: FICCI forecasts India’s GDP growth at 4 per cent for the financial year 2024-25.This marks a downward revision from the 7.0 per cent projection made in September 2024 and reflects a notable slowdown from the 8.2 per cent growth recorded in 2023-24.The agricultural sector, including allied activities, is expected to grow 3.6 per cent in 2024-25, according to FICCI Survey.
2. PNB MetLife partners with Saraswat Co-operative Bank to offer insurance solutions: PNB MetLife India Insurance Company Ltd (PNB MetLife) has forged a strategic bancassurance partnership with Saraswat Co-operative Bank Ltd, one of the largest urban co-operative banks in India.This collaboration aims to enhance financial inclusion by offering a comprehensive suite of life insurance solutions, including savings, protection, retirement, and group plans, to Saraswat Bank’s extensive customer base of approximately 30 lakh individuals, across 302 branches nationwide.Bancassurance is an insurance distribution model where companies partner with banks to sell insurance policies or products. This arrangement benefits both the bank and insurance companies. While the bank earns a commission from the insurance company, the insurer gains from bank’s distribution network.MD & CEO of PNB MetLife – Sameer Bansal
3. PFC signs 120 bn yen loan pact with Japan’s JBIC for RE project: State-owned PFC has inked an agreement with Japan Bank for International Cooperation (JBIC) for 120 billion Japanese yen (around Rs 6,600 crore) loan facility.Under the agreement, JBIC will provide funding of JPY 72 billion, and the balance will be funded by commercial banks.This long-term (up to 20 years) loan to PFC will be provided under JBIC’s initiative ‘Global action for Reconciling Economic growth and Environmental preservation’ (GREEN). The funds will be utilized by PFC to finance its renewable energy portfolio, advancing India’s transition to non-fossil-fuel-based energy sources.
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