Daily GK Update- 21st Jan, 2024

 

NATIONAL UPDATES:

 

1. PM Modi released commemorative postage stamps, book on Ram Temple: Prime Minister Narendra Modi has released a series of commemorative postage stamps dedicated to the Ram Temple in Ayodhya and a book featuring stamps from around the world honouring the revered deity. The intricate design of the stamps captures the essence of Shri Ram Janmbhoomi Mandir, with six distinct components. These include the Ram Mandir itself, the timeless Choupai ‘Mangal Bhavan Amangal Hari’, a radiant depiction of the sun, the sacred Saryu River, and sculptures found in and around the temple. The six stamps within the collection represent key figures and elements from the Ramayana. These include the Ram Temple, Lord Ganesh, Lord Hanuman, Jatayu, Kevatraj, and Ma Shabri.

 

2. Cabinet approves Coal India power projects through JVs: The Union Cabinet has approved setting up of two pithead thermal power plants through joint ventures by subsidiaries South Eastern Coalfields (SECL) and Mahanadi Coalfields (MCL) aimed at providing cheaper power. The Cabinet Committee on Economic Affairs (CCEA) chaired by Narendra Modi approved proposals to set up a 1×660 MW thermal power plant at Amarkantak Thermal Power Station in Chachai, Madhya Pradesh. The CCEA also approved a 2×800 MW Thermal Power Plant in Sundergarh, Odisha.

The plant at Amarkantak thermal power station will be set through a joint venture between SECL and MPPGCL. The proposal for equity investment at a capital of Rs 823 crore by SECL and 49 percent equity investment in JV company with an estimated project capex of Rs 5,600 crore has been approved.

 

3. Ministry of Tourism to organize “Bharat Parv” from 23-31 January: The nine-day extravaganza, part of the Republic Day celebrations, is set to unfold from January 23rd to January 31, at the Lawns and Gyan Path in front of the historic Red Fort in Delhi. Since its inception in 2016, Bharat Parv has evolved into a grand celebration, bringing together the rich tapestry of India’s cultural heritage, citizen-centric initiatives, and vibrant traditions. The event promises a captivating blend of Republic Day Parade tableaux, dynamic cultural performances, engaging presentations, and a feast of delectable delicacies from every corner of the country.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Cabinet approves creation of posts for 16th Finance Commission: The Cabinet has approved the creation of three officer-level posts for assisting the 16th Finance Commission, chaired by Arvind Panagariya. The Union Cabinet chaired by Prime Minister 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 16th Finance Commission. 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. In December 2023, the government appointed the former vice chairman of Niti Aayog Panagariya as the chairman of the 16th Finance Commission. While, Ritvik Ranjanam Pandey was named as the Secretary to the Commission.

 

2. Praveen Achuthan Kutty appointed as MD & CEO of DCB Bank: The Reserve Bank of India (RBI) has approved the appointment of Praveen Achuthan Kutty as the Managing Director and Chief Executive Officer of DCB Bank. The appointment is for a period of three years with effect from April 29, 2024, the bank said in a regulatory filing. The term of the bank’s MD & CEO Murali Natrajan ends on April 28, 2024. Praveen Achuthan Kutty has over 32 years of experience in all aspects of Retail & SME banking.

 

AWARDS AND HONOURS

 

1. EIL conferred with SCOPE Eminence Award: Engineers India Limited (EIL) has been conferred with the prestigious SCOPE Eminence Award in the category of Women Empowerment for the period 2019-20. The award recognizes EIL’s exemplary commitment to fostering an inclusive & diverse work environment and celebrates the outstanding achievement of its women workforce.

The award was presented to EIL by the Vice-President of India Jagdeep Dhankhar and received by EIL’s Director (Finance) Sanjay Jindal and Director (Commercial) Atul Gupta, during an award ceremony held at Vigyan Bhawan, New Delhi.

 

2. President Murmu presented Pradhan Mantri Rashtriya Bal Puraskar: President Droupadi Murmu has presented the Pradhan Mantri Rashtriya Bal Puraskar to 19 children for their exceptional achievements. The children, comprising 9 boys and 10 girls, hail from 18 States and Union Territories, including two aspirational districts. The Pradhan Mantri Rashtriya Bal Puraskar, 2024 will be given in six categories — art and culture (7), bravery (1), innovation (1), science and technology (1), social service (4), and sports (5). The Pradhan Mantri Rashtriya Bal Puraskar, a government initiative, aims to recognize and celebrate the exceptional achievements of children aged 5 to 18 years. Each awardee will receive a medal and a certificate.

Daily GK Update- 20th Jan, 2024

 

NATIONAL UPDATES:

 

1. PM Modi inaugurates Boeing’s India Engineering and Technology Center: Prime Minister Narendra Modi has inaugurated Boeing’s new global engineering and technology centre campus near Bengaluru city. Built at a cost of Rs 1,600 crore, the 43-acre Boeing India Engineering and Technology Centre (BIETC) campus is the plane-maker’s largest such investment outside the US.

The campus at Hightech Defence and Aerospace Park in Devanahalli on the city outskirts will become a cornerstone for partnerships with the vibrant startups, private and government ecosystem in India, and will help develop next-generation products and services for the global aerospace and defence industry. PM also launched the ‘Boeing Sukanya Programme’ that “aims to support the entry of more girl children from across India into the country’s growing aviation sector.

 

2. West Bengal CM inaugurates 47th International Kolkata Book Fair: West Bengal Chief Minister Mamata Banerjee has inaugurated the 47th edition of the International Kolkata Book Fair. The United Kingdom is the theme country for this year’s fair, which has about 1,000 stalls and is scheduled to run from January 18 to January 31 at Salt Lake’s Central Park here. Nearly 20 countries were participating in this year’s book fair, which has become a big festival for Kolkata.

This year marks the U.K. as the theme country for the fourth time at the International Kolkata Book Fair. The U.K. pavilion is designed to immerse visitors in the essence of British culture, highlighting its modern contributions to education, the English language, and the arts.

 

INTERNATIONAL UPDATES:

 

1. India, France to jointly fund science research projects: India and France have agreed to jointly fund scientific research projects in the fields of health, decarbonized hydrogen, marine sciences, and applied mathematics. The decision was taken during a meeting of the Indo-French Joint Committee on Science and Technology (JCST) in the India International Science Festival. The two sides also pointed out the key role of mobility and networking in preparing future cutting-edge scientific cooperation.

 

2. WHO Issues Guidance on Healthcare AI Ethics: The World Health Organization published comprehensive recommendations on the ethical governance of emerging large multi-modal AI models (LMM) increasingly used in healthcare like symptom analysis chatbots. Their rapid uncontrolled adoption makes determining proper oversight urgent. Key Healthcare Application Areas WHO ..

 

3. Alliance for Global Good-Gender Equity and Equality: At the 2024 World Economic Forum in Davos organized around the theme of “Rebuilding Trust”, India participated embodying the spirit of “Vasudhaiva Kutumbakam” – ready to shape a shared future underpinned by global cooperation. A key outcome was the launch ..

 

OTHER UPDATES:

DEFENCE

 

1. Daljit Singh Chaudhary appointed Director General of SSB: Senior IPS officer Daljit Singh Chaudhary has appointed as the Director General of the Sashastra Seema Bal (SSB). 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, 2025. The SSB guards India’s frontiers with Nepal and Bhutan.

 

SPORTS

 

2. South Africa host ICC U-19 Cricket World Cup 2024: South Africa is hosting the ICC U-19 Cricket World Cup 2024. The World Cup started on 19 January and will conclude on 11 February. This 50-over tournament will feature 16 teams, with a total of 41 matches scheduled to be played. The initial phase of the tournament organizes the teams into four groups, each containing four teams. This will be followed by the Super Six stage, comprising two groups of six teams each. This stage will be crucial in determining which teams advance to the semifinals and ultimately compete in the final. The ICC U19 World Cup 2024 in India will be broadcast on Star Sports Network TV channels. The live streaming will be available on the Disney+ Hotstar app and website for free.

 

BANKING AND FINANCE

 

1. ICICI Bank Canada Launches ‘Money2India (Canada)’ Mobile Banking App: ICICI Bank Canada, a subsidiary of ICICI Bank Ltd., has launched the app Money2India, which allows customers of any Canadian bank to send money to any bank in India without an account with ICICI Bank Canada.

Customers can send money directly through the app via Visa or Mastercard. Customers can send up to $22,446 in a single transaction and can set up recurring transfers. The app features two-factor authentication and a one-time password. The introduction of the ‘Money2India (Canada)’ app reflects our commitment to providing users with a convenient and enriched experience.

 

AWARDS AND HONOURS

 

1. EIL conferred with SCOPE Eminence Award: Engineers India Limited (EIL) has been conferred with the prestigious SCOPE Eminence Award in the category of Women Empowerment for the period 2019-20. The award recognizes EIL’s exemplary commitment to fostering an inclusive & diverse work environment and celebrates the outstanding achievement of its women workforce.

The award was presented to EIL by the Vice-President of India Jagdeep Dhankhar and received by EIL’s Director (Finance) Sanjay Jindal and Director (Commercial) Atul Gupta, during an award ceremony held at Vigyan Bhawan, New Delhi.

 

Daily GK Update- 19th Jan, 2024

 

NATIONAL UPDATES:

 

1. Assam's highest civilian award for ex-CJI Ranjan Gogoi: The Assam government has announced that it will confer the Assam Baibhav award, the state’s highest civilian honor, to Member of Parliament and former Chief Justice of India (CJI) Ranjan Gogoi.  He has been credited for playing a part in the establishment of the Ram temple in Ayodhya through the apex court judgment delivered under his leadership as CJI. Ranjan Gogoi held the office of the 46th Chief Justice of India.

 

2. PM Modi laid foundation stones of 8 AMRUT projects in Maharashtra: Prime Minister Narendra Modi inaugurated or lay the foundation stones of several development projects in Maharashtra's Solapur. He will lay the foundation stones of eight AMRUT (Atal Mission for Rejuvenation and Urban Transformation) projects in the state worth around Rs 2,000 crore. He will also dedicate more than 90,000 houses built under the Pradhan Mantri Awas Yojana (Urban).

 

3. Kerala bets big on heli-tourism to attract visitors: Kerala Tourism launched 'Sky Escapes', a heli-tourism project aimed at increasing domestic tourist footfalls. The state has become the first in the country to have a comprehensive heli-tourism policy, offering travel packages through helicopter service providers. Kerala Tourism also plans to host international adventure sporting events such as the International Paragliding Festival, International Surfing Festival, MTB Kerala 2024, and The Malabar River Festival.

 

4. Amit Shah inaugurates Cyber Security Operations Centre for Assam Rifles: Union Home minister Amit Shah inaugurated a Cyber Security Operations Centre at the Assam Rifles Headquarters at Laitkor in Shillong. The Cyber Security Operations Centre will strengthen the Cyber Security will carry out real-time monitoring of the network, mitigation of external threats & prevention of Cyber violations in the Assam Rifles Wide Area Network (ARWAN).

 

5. PM Modi inaugurate Boeing India's tech centre campus near Bengaluru: Prime Minister Narendra Modi inaugurated American aircraft manufacturer Boeing's new global engineering and technology centre campus,built at a cost of Rs 1,600 crore. The 43-acre state-of-the-art Boeing India Engineering and Technology Centre (BIETC) campus is the aviation giant's largest such investment outside the US.

 

6. Election Commission Launches Nationwide Awareness Program on EVMs: Election Commission has begun a nation-wide awareness programme on EVMs and VVPATs ahead of 2024 Lok Sabha Elections. More than three thousand 500 demonstration centres and nearly four thousand 250 Mobile Vans have been deployed for awareness programme. The programme which is organised ahead of every General Election to Lok Sabha and State Legislative Assembly focuses on imparting knowledge about the basic features of EVMs and VVPATs.

7. Only one registration for National Pension System is required: The Pension Fund Regulatory and Development Authority (PFRDA) has notified the Point of Presence (PoP) Regulations 2023, requiring only one registration for the National Pension System PoPs are entities appointed by the Pension Fund Regulatory and Development Authority to provide services to all the citizens of the country to open and operate their NPS accounts Now, the subscriber requires only a single registration for NPS, instead of multiple registrations earlier.

 

INTERNATIONAL UPDATES:

 

1. S Jaishankar attends 19th NAM Summit in Uganda: India's External Affairs Minister, S Jaishankar, will represent the country at the 19th Non-Aligned Movement (NAM) summit in Uganda. The summit, which brings together over 120 developing countries, will focus on deepening cooperation for shared global affluence. Jaishankar will also visit Nigeria to strengthen bilateral relations and attend various meetings and events during his three-day visit.

 

2. PepsiCo India appoints Jagrut Kotecha as new CEO for India: Jagrut Kotecha is appointed as the new India chief of PepsiCo India. PepsiCo's snacks business, which includes Lays and Doritos, declined in the quarter to September 2023. Kotecha, with extensive experience in snacks, is chosen to bolster PepsiCo India's snacks business. Kotecha previously worked at Cadbury India.

 

3. TCS ranked second most valuable IT brand in global list: Tata Consultancy Services (TCS) has been rated as the second most valuable IT services brand in the world in the 2024 Global 500 IT Services Ranking by Brand Finance. TCS’ brand value has surged to $19.2 billion from $17.2 billion in 2023, showing a strong growth of 11.5 per cent year-on-year (y-o-y). The incremental $2-billion growth is the highest absolute growth posted among the top 25 leading IT firms in the world. Besides TCS, Accenture and Infosys boosted their brand value as well. The three firms topped the list of IT firms in terms of brand value.

 

OTHER UPDATES:

 

SPORTS

 

1. Sixth Edition of Khelo India games to be formally inaugurated today: The sixth edition of the Khelo India games will be formally inaugurated today. Most of the indoor and outdoor games will be played in the Jawaharlal Nehru Stadium in Chennai. Other games like cycling, gymnastics, swimming, hockey, shooting, yogasana and wrestling will be played in various other venues in the city and the suburban areas.

 

2. Hrithik Roshan Onboards as Brand Ambassador for RuPay Prime Volleyball League: RuPay Prime Volleyball powered by A23 has appointed Hrithik Roshan as its brand ambassador. Hrithik engaged in a discussion about the upcoming season of RuPay Prime Volleyball League powered by A23 with some of the top volleyball stars who will be competing in the third edition. The actor has redefined the meaning of athleticism and fitness over the years and has been a true source of inspiration for many of our athletes. The RuPay Prime Volleyball League powered by A23, co-owned and exclusively marketed by Baseline Ventures, will enter its third edition this year featuring nine franchises – Hyderabad Black Hawks, Ahmedabad Defenders, Kolkata Thunderbolts, Calicut Heroes, Kochi Blue Spikers, Chennai Blitz, Bengaluru Torpedoes, Mumbai Meteors, and the addition, Delhi Toofans.

 

AWARDS AND HONOURS

 

1. Bangalore & Delhi Airports jointly bagged best airport award for the year: Union Civil Aviation Minister Jyotiraditya M Scindia has presented the Wings India Awards 2024 at an event held in Hyderabad. Bangalore and Delhi Airports have jointly bagged the best airport award for the year at the 4th edition of “Wings India Awards” in the Civil Aviation Sector Vistara bagged the Best Airline of the Year award The Air India has been recognised for International Connectivity while Alliance Air got recognition for Regional Connectivity.

 

2. Gianni Infantino Honored With Sports Personality Award In Dubai: FIFA President Gianni Infantino has been bestowed with the esteemed title of International Sports Personality of the Year at the Mohammed Bin Rashid Al Maktoum Creative Sports Awards’ 12th edition held in Dubai, United Arab Emirates. He received this recognition for his innovative contributions towards the advancement of sports and the promotion of fair competition.

Daily GK Update- 18th Jan, 2024

 

NATIONAL UPDATES:

 

1. IndoSpace Signs Rs 2000 Cr Deal With Tamil Nadu Govt: India’s leading developer and owner of Grade A industrial real estate, IndoSpace has signed an MoU with the government of Tamil Nadu to invest over Rs 2,000 crore in the state. This investment by IndoSpace is expected to generate 15,000 new jobs, providing a substantial boost to employment opportunities in the state. IndoSpace has an existing land bank of around 600 acres in the region. With an expansive presence of 14 Grade A industrial and logistics parks strategically located around the main industrial hubs, IndoSpace has developed and leased around 13 million sq ft with a total investment of Rs 4,000 crore in the state.

 

2. Haldia Petrochemicals becomes India’s first BSI Certified ISO 27001:2022 Petrochemical firm: Haldia Petrochemicals Ltd (HPL), a leading petrochemicals company in India, has become the first ISO 27001:2022 certified petrochemical organization 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. The Certification demonstrates HPL’s commitment towards a secure and reliable digital environment for a seamless exchange of information across internal and external stakeholders.

 

3. Khadi Bhawan unveils 'Sanatan Khadi Vastra’: The Khadi and Village Industries Commission (KVIC) launched its latest collection, "Sanatan Khadi Vastra". KVIC Chairman Manoj Kumar announced a special 20% discount on the new collection alongside broader discounts ranging from 10% to 60% on all Khadi and village industry products at Khadi Bhawan from January 17 to 25, 2024. "Sanatan Vastra" embodies Prime Minister Narendra Modi's vision of "Khadi for Nation, Khadi for Fashion, and Khadi for Transformation. PM Modi releases six commemorative postage stamps on Shri Ram Janmbhoomi

 

4. PM Modi releases six commemorative postage stamps on Shri Ram Janmbhoomi: Prime Minister Narendra Modi released six commemorative postage stamps on Shri Ram Janmbhoomi Mandir. He also released an album of stamps issued on Lord Ram around the world. The components of the design include the Ram Mandir, Choupai Mangal Bhavan Amangal Hari, Sun, Sarayu River, and Sculptures in and around the Temple.

 

5. Union Minister Launches Project for Artificial Reefs in Vizhinjam: Union Minister of Fisheries Sri. Parshotham Rupala launched the project of depositing artificial reefs in the seabed in Vizhinjam, Thiruvananthapuram, via Videoconferencing. The project is aimed at increasing the income of fishermen by enhancing the fish population in the region. The project is being implemented under Pradhan Mantri Matsya Sampada Yojana with a total outlay of 13.02 crore. In the first phase, 6,300 artificial reefs will be laid in 42 fishing villages.

 

INTERNATIONAL UPDATES:

 

1. 18 January 2024 – Women’s Healthy Weight Day: Women’s Healthy Weight Day is observed every year on the Thursday of the third week of January. This year it’s being celebrated on January 18. The day aims at spreading awareness around the concept of healthy weight and steps to achieve the ideal weight. Maintaining a healthy weight is important for both men and women and it not only helps you feel better and more energetic but can also reduce risk of falling ill due to chronic diseases like cardiovascular illness, hypertension, type 2 diabetes, fatty liver disease, thyroid issues to name a few. A balanced meal should be consumed to maintain a healthy weight whether you are on a higher or lower side of the ideal weight.

 

2. Asia's largest civil aviation event ‘Wings India 2024’ in Hyderabad: Union Civil Aviation Minister Jyothiraditya Scindia inaugurated the prestigious Wings India 2024 and Global Aviation Summit at Begumpet Airport in Hyderabad. The Wings India 2024 is being held with the main theme ‘Connecting India with the World in Amritkal’ and holds deliberations over the strategies and strategic framework for the future Aviation Sector of the country. He also digitally launched the GMR Aero School of Aviation.

 

OTHER UPDATES:

DEFENCE

 

1. AN Pramod assumed charge as the Director General Naval Operations (DGNO): Vice Admiral AN Pramod has assumed charge as the Director General Naval Operations (DGNO). An alumnus of the 38th Integrated Cadet Course, Naval Academy, Goa, he was commissioned into the Indian Navy on 01 July 1990. The Flag Officer is a CAT ‘A’ Sea King Air Operations Officer and a Communication & Electronics Warfare Specialist. He did the Staff Course at DSSC Wellington (Nilgiris) and the Naval Higher Command Course at NWC, Goa.

 

2. India,Thailand organized first bilateral exercise “Ex-Ayutthaya”: The Indian Navy and Royal Thai Navy (RTN) conducted a maiden bilateral exercise, named ‘Ex-Ayutthaya’, which symbolizes the significance of ‘Ayodhya’ in India and Ayutthaya in Thailand, which holds historic legacies and has rich cultural ties. The Indian Naval ships Kulish and IN LCU 56 participated in the inaugural edition of the exercise. The Royal Thai Navy side was represented by His Thai Majesty’s Ship (HTMS) Prachuap Khiri Khan. The 36th edition of the India-Thailand Coordinated Patrol (Indo-Thai CORPAT) was also conducted along with the maiden bilateral exercise. Moreover, the Maritime Patrol Aircraft from both navies participated in the sea phase of the exercise.

 

 

 

 

SPORTS

 

1. Pat Cummins and Deepti Sharma won ICC Players of the Month for December 2023: ICC revealed the Men’s and Women’s Player of the Month award winners for December 2023. Australia skipper Pat Cummins wins ICC Men’s Player of the Month award for December 2023 for bowling heroics in the Test triumph against Pakistan. Meanwhile, Deepti Sharma of India won the maiden ICC Women’s Player of the Month award for December 2023 thanks to her multi-format brilliance against England and Australia.

 

BANKING AND FINANCE

 

1. Yes Bank deploys Veefin’s SmartFin supply chain finance solution: Yes Bank has launched SmartFin, an end-to-end digital supply chain finance (SCF) platform, powered by Veefin Solutions. The initiative reflects Yes Bank’s commitment to fostering innovation and enhancing its digital offerings, particularly in the realm of working capital efficiencies. The SmartFin platform, through its end-to-end digital offerings, will help us drive the required operational & financial efficiencies for all stakeholders.

 

2. LIC overtakes SBI to become the most valuable PSU: Life Insurance Corporation of India, a government-owned insurance giant, has regained its status as the most valued public sector undertaking, surpassing the market capitalization of State Bank of India. While SBI holds a market value of Rs 5.63 lakh crore, LIC has surpassed it with a market capitalization (MCap) of Rs 5.64 lakh crore. In 17 Jan, SBI stock witnessed a 1.5 percent decline to Rs 624, whereas LIC traded at Rs 896 on the BSE, showing a 0.2 percent increase. Concurrently, the benchmark BSE Sensex experienced a 1.02 percent loss, settling at 72,386 points. In 2023, LIC witnessed a remarkable gain of over 22%, and in the ongoing year, 2024, it has surged by an additional 7.5%. In contrast, SBI made modest progress with an advancement of nearly 5% in the previous year, but in the current year, it has incurred a loss of over 1%

 

3. Government of India Launches Sovereign Gold Bonds 2023-24: In a strategic move to channelize domestic savings into financial instruments, the Government of India has launched the Sovereign Gold Bond Scheme 2023-24 (Series III) Stemming from the inaugural scheme in Nov 2015 under the Gold Monetisation Scheme, aims to reduce the demand for physical gold. The scheme introduces a digital discount for online applications, enhancing the accessibility and attractiveness of secure gold investments to a diverse investor base.

Daily GK Update- 17th Jan, 2024

NATIONAL UPDATES:

 

1. Boeing opens its first distribution center in India: Global aerospace giant Boeing has opened its first distribution center in India, located in Khurja, Uttar Pradesh. Spanning 36,000 square feet, this parts warehouse aims to assist regional aviation customers in optimizing fleet utilization. This new facility is part of its ongoing efforts to expand its footprint in the country, providing an efficient, cost-effective, and localized solution. This is one of Being’s eight distribution centers in the world. Furthermore, Boeing has pledged a USD 100 million investment in infrastructure and pilot training programs to meet India’s growing demand for pilots over the next two decades.

 

2. L&T wins Rs 10,000 crore electrification order for high-speed rail project: Larsen & Toubro (L&T) has secured a mega contract from an authorized Japanese agency to construct an electrification system for the Mumbai-Ahmedabad High-Speed rail project in India. Valued in the range of Rs 10,000 crore to Rs 15,000 crore, the project, according to company executives, is the largest single rail-electrification order in India. This would be the first of its kind railway project in India involving the implementation of Japanese Shinkansen High-Speed Electrification Techno­logy. This electrification system will enable trains to travel at speeds of up to 320 kmph.

 

3. Centre approves equity investments for setting up two thermal power plants: The Cabinet Committee on Economic Affairs approved a proposal for equity investments for setting up two thermal power plants in the country. These power plants will be set up by the subsidiaries of Coal India Limited to provide cheaper and affordable power to the people. As per the decision, a 1×660 megawatt supercritical coal-based thermal power plant will be set up at Amarkantak Thermal Power Station in Madhya Pradesh.

 

4. Government considers repeal of 1899 Stamp Act: The Union government is contemplating the repeal of the Indian Stamp Act of 1899, paving the way for a more contemporary stamp duty regime. The Department of Revenue, under the Ministry of Finance, has unveiled a draft of the proposed 'Indian Stamp Bill, 2023,' and sought public input over the next 30 days. The existing Indian Stamp Act, dating back to the pre-Constitution era, currently governs the taxation of transactions through stamps.

 

5. National workshop in Tirupati to focus on healthy villages: Minister of State for Panchayati Raj Kapil Moreshwar Patil is set to inaugurate a three-day national workshop on “Healthy Village towards Healthier Tomorrow” in Tirupati, Andhra Pradesh. The workshop will focus on the localization of sustainable development goals in gram panchayats through adopting thematic approaches, specifically addressing the theme Healthy Village. The workshop, with over 800 participants from 24 states and UTs.

 

India levies 50% export duty on sugar-derivative molasses: India is the world’s largest molasses exporter and contributes about 25% to global trade. The Indian government has imposed a 50% export duty on molasses due to the potential decrease in domestic sugar production this season. 

According to an official notification from the Ministry of Finance, the proposed export duty will take effect on January 18, 2024.

 

INTERNATIONAL UPDATES:

 

1. Switzerland to Host Ukraine Peace Summit: Switzerland has agreed to host a global peace summit on Ukraine at the request of Ukrainian President Volodymyr Zelenskiy. Neutral Switzerland has previously acted as a broker to resolve conflicts and could now help find a resolution for the war that began when Russia sent troops into Ukraine on Feb 24, 2022. The summit, aimed at resolving the conflict sparked by Russia’s incursion into Ukraine in 2022, highlights Switzerland’s role as a neutral mediator.

 

2. Kuwait announces formation of New Government under New Emir: Kuwait formed a new government,  the first under the country’s new Emir Sheikh Meshal al-Ahmad al-Sabah. The freshly formed cabinet, led by PM Sheikh Mohammad Sabah Al-Salem Al-Sabah, consists of 13 members and includes new appointments for the ministries of oil, finance, and foreign affairs. A notable departure from tradition is seen in the appointment of Foreign Minister Abdullah Ali al-Yahya, marking the first time a non-royal family member.

 

3. Smriti Irani announces establishment of B20 Global Institute at WEF Davos: Union Minister Smriti Irani announced the creation of the B20 Global Institute,a concept conceived during the B20 Summit 2023 in New Delhi. The B20 Global Institute aims to strengthen global value chains, leverage digital innovations and AI for societal benefit, promote ESG principles, and support sustainability & energy transition. Key initiatives outlined by B20 India included the establishment of a B20 Global Instituter and policy advocacy to global enterprises

 

OTHER UPDATES:

DEFENCE

 

1. Vineet McCarty appointed as Commandant in Indian Naval Academy: Vice Admiral Vineet McCarty took over as Commandant of the Indian Naval Academy. The Flag Officer was commissioned into the Indian Navy on 01 Jul 1989 and is a graduate of Defence Service Staff College, Wellington (2005) and National Defence College, New Delhi (2017). A specialist in ‘Gunnery and Missiles’, he served as the commissioning crew of INS Delhi and did all his specialist tenures onboard the frontline Guided Missile Destroyer. Before assuming charge as the Commandant of Indian Naval Academy, he was Flag Officer Commanding the Western Fleet.

 

SPORTS

 

1. Indian President Inaugurated 5th Meghalaya Games: President of India, Droupadi Murmu has inaugurated the 5th Edition of the Meghalaya Games in Tura, Meghalaya. The President highlighted the tremendous potential for the development of sports and sportspersons in the North East region, citing its rich tradition of a strong sports culture. It is the first time ever that the Meghalaya Games have been conducted in Garo hills in Tura. Around 3000 athletes will compete across 23 sports disciplines. The torch’s final lap through Tura’s West Garo Hills was carried by Shri Simeon Marak, a Northeast Olympics representative, during the inauguration ceremony at the P.A. Sangma Stadium. The Torch Relay Ceremony illuminated the state’s commitment to athleticism, unity, and youth empowerment, setting the stage for the upcoming Meghalaya Games, 2024.

 

2. Yogesh Singh wins gold medal in men’s 25m centre fire pistol: Yogesh Singh won the gold medal in 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. 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.

 

SCIENCE AND TECHNOLOGY

 

1. Pixxel opens new spacecraft manufacturing facility in Bengaluru: Bengaluru-based space data company Pixxel has inaugurated its first spacecraft manufacturing facility in Bengaluru. The new facility holds significance as it targets to launch six satellites this year and 18 more by 2025, further advancing its mission of building a “health monitor” for the planet. Spread across 30,000 square feet, the facility, at its full capacity, is equipped to handle more than 20 satellites simultaneously that can be turned around within a timeframe of six months, making possible a total of 40 large satellites per year. The facility was inaugurated by S. Somanath, chairman of the Indian Space Research Organization (ISRO)

 

BANKING AND FINANCE

 

1. IndusInd Bank ties up with EazyDiner to launch credit card: IndusInd Bank has launched the ‘EazyDiner IndusInd Bank Platinum Credit Card’ in association with EazyDiner. The credit card offers an additional discount of ₹500 while paying through the EazyDiner App via PayEazy for both dining and takeaway at select restaurants. Cardholders get an EazyDiner Prime membership for three months, with guaranteed discounts of 25 percent to 50 percent, at over 2,000 premium restaurants, without any joining or annual fees. Users can renew their membership upon payment of ₹30,000 every 90 days. The card offers up to 2 reward points on every ₹100 spent; in addition to the discounts, the reward points earned can be redeemed instantly against dining bills on the EazyDiner app.