Daily GK Update 29th Jan, 2024

 

NATIONAL UPDATES:

 

1. IREDA releases vigilance journal ‘Pahal’: Indian Renewable Energy Development Agency (IREDA), GoI enterprise under the administrative control of Ministry of New and Renewable Energy, has unveiled released ‘Pahal’- the insightful house journal of its Vigilance Department. The initiative marks a significant step towards transparency, accountability, and the promotion of renewable energy initiatives by IREDA. The unveiling ceremony was led by IREDA’s Chairman & Managing Director, Shri Pradip Kumar Das at the registered office in New Delhi.

 

2. PM Modi inaugurates Diamond Jubilee celebrations of Supreme Court: The Prime Minister, Narendra Modi has inaugurated the Diamond Jubilee celebration of the Supreme Court of India on 28 January at the Supreme Court auditorium in Delhi. He also launched citizen-centric information and technology initiatives that include Digital Supreme Court Reports (Digi SCR), Digital Courts 2.0 and a new website of the Supreme Court. Government has also given approval of 800 crore rupees for the new Supreme Court building. The Supreme Court of India held its inaugural sitting on January 28, 1950.

 

3. Rubber meet to be held in Guwahati: The seventh edition of the India Rubber Meet (IRM 2024) will be held in Guwahati on February 23. The theme this year is ‘Natural Rubber — Changing Landscape, Emerging Trends and Insights for Tomorrow’. The event, organised by the India Rubber Meet Forum (IRMF), will feature talks, panel discussions, and interactions on various topics including the future of the global and Indian natural rubber industry, economy and commodity prices, and challenges and opportunities in the tyre, non-tyre, and synthetic rubber industry. The objective of the meeting is to provide a platform for rubber stakeholders to interact, share knowledge, address future concerns, and network for the advancement of the rubber industry.

 

4. Nitish Kumar takes oath as Bihar chief minister for record ninth time: JD(U) president Nitish Kumar took oath as Chief Minister of Bihar for a record ninth time after a dramatic volte-face. Eight other cabinet ministers also took oath at Rajbhavan with him. Governor Rajendra Vishwanat Arlekar administered oath of office and secrecy to three BJP and three JD(U) leaders. Besides this, one member from Hindustani Awam Morcha (HAM) and one Independent also took oath. Deputy Chief Minister – Samrat Choudhary and Vijay Kumar Sinha

 

5. 28 January – Indian Newspaper Day: India’s Newspaper Day is celebrated every year on 28 January to commemorate the launch of the country’s first newspaper in 1780. The occasion is observed to commemorate the day on which Irishman James Augustus Hicky launched the first printed newspaper in India. It was known as the Original Calcutta General Advertiser or Hicky’s Bengal Gazette. India has set aside a day to mark the launch of this English-language weekly. It marks the inception of newspapers in India, a historic moment when James Augustus Hicky introduced the first printed newspaper, Hicky’s Bengal Gazette, in 1780. This article delves into the significance of this day, the historical backdrop of Hicky’s Bengal Gazette, and the evolving role of newspapers in today’s digital age.

 

OTHER UPDATES:

DEFENCE

 

1. Squadron Leader Nikita Malhotra conferred with Vayu Sena Medal: Nikita Malhotra, a Squadron Leader of the Indian Air Force (IAF), was awarded the Vayu Sena Medal for Gallantry on the 75th Republic Day. She was also part of the Tangail formation of fighters during the flypast over the Kartavya Path on Republic Day Parade. She was piloting a Dornier aircraft of the formation which included one Dakota aircraft and two Dorniers. Based on the twin themes of ‘Viksit Bharat’ and ‘Bharat-Loktantra ki Matruka’, this year’s parade witnessed the participation of around 13,000 special guests.

 

SPORTS

 

1. England to host 2027 World Test Championship Final: England will host the 2027 World Test Championship (WTC) final in June, marking the fourth consecutive time. The ICC issued a Request for Proposal (RFP) for a Social Responsibility Provider for the period 2024-2027. So far, India have been played in both WTC Finals that took place in 2021 and 2023. While India lost to New Zealand in the inaugural final, the Rohit Sharma-led side lost to Australia in the summit clash last year in June. Currently, in WTC 2023-25 table, Australia hold the top spot, followed by India. ICC also announces the introduction of the Women’s T20 Champions Trophy. The inaugural edition is slated to take place in Sri Lanka in February 2027.

 

2. Indian pair of Rhythm Sangwan and Ujjwal Malik claim 1st gold at ISSF Shooting World Cup: The Indian pair of Rhythm Sangwan and Ujjwal Malik won India’s first gold medal at the ISSF Shooting World Cup 2024 in Cairo. They defeated the Armenian pair of Elmira Karapetyan and Benik Khlghatyan 17-7 in the 10m air pistol mixed team event. Earlier, Arjun Babuta and Sonam Uttam Maskar won silver in the 10-meter air rifle mixed team event. They lost 16-14 to Great Britain’s Seonaid McIntosh and Dean Bale in the final.

 

3. Australian Open 2024: Rohan Bopanna wins men’s doubles final: Indian tennis player Rohan Bopanna created history as he became the oldest grand slam winner after teaming up with his Australian partner Matthew Ebden to defeat the Italian pair of Simone Bolelli and Andrea Vavassori in the finals of the Australian Open 2024. This is Rohan Bopanna’s second grand slam title after the 2017 French Open win with his Canadian partner Gabriela Dabrowski in mixed doubles. With a grand slam title at the age of 43, Rohan Bopanna surpassed the record of Australian tennis champion Ken Rosewall, who won a grand slam at 37.

 

 

BANKING AND FINANCE

 

1. BoB raises Rs 5,000 Crore via 10-year infrastructure bonds: State-owned Bank of Baroda (BoB) has raised ₹5,000 crore through the issuance of long-term infrastructure bonds. The bank received a total of 128 bids amounting to ₹14,950 crore against the total issue size of ₹5,000 crore (base issue of ₹1,000 crore and greenshoe option to retain oversubscription up to ₹4,000 crore). The bonds have a base issue of Rs 1,000 crore, with retain oversubscription of Rs 4,000 crore as a greenshoe option. It is a provision in an underwriting agreement that grants the underwriter the right to sell investors more bonds than initially planned by the issuer if the demand for a security issue proves higher than expected.

 

AWARDS AND HONOURS

 

1. IIT Guwahati scholar wins ‘Best Product Design’ at Vishwakarma Awards: Satyam, a PhD Scholar in the department of biosciences and bioengineering at the Indian Institute of Technology Guwahati (IIT-Guwahati), has achieved the “Best Product Design” award in the Water and Sanitation category at the prestigious Vishwakarma Awards 2023. The competition, organized by the IIT-Delhi in collaboration with Maker Bhavan Foundation and the WIN Foundation, aimed to recognize and support innovative minds in technology from science and engineering colleges across India. The theme for 2023 focused on water and sanitation, clean technology and smart mobility.

 

2. Thiruvananthapuram airport bags excellence award: Thiruvananthapuram International Airport has been selected for the prestigious Excellence Award by Quality Circle Forum of India (QCFI) in the recent National Convention on Quality Concepts 2024 in Nagpur, Maharashtra. The TIA was selected for the recognition based on its continuous improvement initiatives undertaken for airport operations. QCFI is recognised as the institution representing The Quality Circle Movement in India and has represented the country in several international forums. The award jury praised Thiruvananthapuram Airport’s initiatives in establishing an effective mechanism to maintain the Obstacle Limitation Surfaces (OLS) free from obstacles for safe aircraft operations and sustenance of the biodiversity through its sustainability initiatives.

 

3. President Murmu approves 80 gallantry awards: President Droupadi Murmu has approved 80 gallantry awards including six Kirti Chakra and 16 Shaurya Chakra on the 75th Republic Day. Out of the six Kirti Chakra, three were conferred posthumously. The 16 Shaurya Chakra, included two posthumous. The Kirti Chakra is India’s second-highest peacetime gallantry award after Ashok Chakra. Shaurya Chakra is the country’s third-highest peacetime gallantry award. The Kirti Chakra awardees are Major Digvijay Singh Rawat of the 21st Battalion, the Parachute Regiment (Special Forces), Major Deependra Vikram Basnet from the Sikh Regiment’s Fourth Battalion and Havildar Pawan Kumar Yadav from the 21st Battalion of the Mahar Regiment.

Daily GK Update- 28th Jan, 2024

 

NATIONAL UPDATES:

 

1. Krutrim becomes India’s first $1 billion AI startup: Ola Krutrim, the artificial intelligence (AI) startup founded by serial entrepreneur Bhavish Aggarwal, has achieved unicorn status following a successful funding round that secured $50 million from prominent investors, including Matrix Partners India. The company proudly announced its newfound status as the first Indian AI startup to reach a billion-dollar valuation, a remarkable feat achieved within a month of unveiling a large language model. The startup, aptly named Krutrim, translating to “artificial” in Sanskrit, is not only focusing on advancing AI language capabilities but is also delving into the development of data centres. The ultimate goal is to create servers and supercomputers tailored to the evolving needs of the AI ecosystem.

 

2. Nirmala Sitharaman To Become 2nd FM To Present 6 Consecutive Union Budgets: Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row — five annual Budgets and one interim — a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of the interim Budget on February 1, Ms Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P. Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. Former Prime Minister Morarji Desai who holds the tag of presenting 10 Budgets — the maximum by any finance minister — had presented six of them, including one interim, in a row.

 

3. 63rd Central Geological Programming Board (CGPB) Meeting Convened In Bhopal: The 63rd gathering of the Central Geological Programming Board (CGPB) took place in Bhopal, Madhya Pradesh.\ The meeting was held under the Chairmanship of Shri V.L. Kantha Rao, Secretary, Ministry of Mines. Shri Sanjay Lohiya, Additional Secretary, Ministry of Mines,Shri Janardan Prasad, Director General, GSI,senior functionaries of different Ministries, State Directorates of Mining & Geology, PSUs, representatives from private mining industry, Mining associations and other stakeholders attended thecrucial The proposed Annual Programme for the ensuing Field Season year 2024-25 was placed before the Board for discussion. During the ensuing year 2024-25 GSI has formulated about 1055 scientific programs for the year 2024-25, which include 392 Mineral Development projects (G2; G3; G4; and Offshore Explorations) that have the potential to generate auctionable mineral blocks in near future.

 

4. Nitish Kumar Back as Bihar CM for Record 9th Term: Researchers from the National Bureau of Fish Genetic Resources (NBFGR) have discovered two new species of Congrid eels from the coasts of Tamil Nadu and Kerala. The species add to India’s marine biodiversity knowledge in relatively less studied fish groups ..

 

INTERNATIONAL UPDATES:

 

1. 26 January – International Day of Clean Energy: International Day of Clean Energy is observed every year on January 26. This day serves as a reminder of the critical role clean energy plays in combating climate change, reducing carbon emissions, and ensuring a healthier planet for future generations. Adopting clean energy is integral to the fight against climate change. For decades, science has shown that to limit climate change, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, sustainable, accessible, affordable, and reliable.

 

2. 27 January – International Day of Commemoration in Memory of the Victims of the Holocaust: January 27th marks a solemn occasion recognised globally as the International Day of Commemoration in memory of the victims of the Holocaust. This day serves as a poignant reminder of the horrors of the Holocaust and the enduring need to fight against hatred, bigotry, and racism in all its forms. In November 2005, the United Nations General Assembly designated January 27 as an “International Day of Commemoration in memory of the victims of the Holocaust”(Resolution 60/7). It reaffirmed that the Holocaust, which resulted in the murder of one-third of the Jewish people, along with countless members of other minorities, will forever be a warning to all people of the dangers of hatred, bigotry, racism, and prejudice. On January 27, 2006, the first worldwide International Holocaust Remembrance Day celebrated.

 

OTHER UPDATES:

DEFENCE

 

1. Joint military exercise – SADA TANSEEQ between India & Saudi Arabia to be held in Rajasthan: The inaugural edition of the Joint Military Exercise ‘SADA TANSEEQ’ between India and Saudi Arabia will be held from January 29 to February 10 in The exercise aims to enhance synergy, interoperability and jointmanship by learning and sharing best practices between the Armies of both nations. The joint exercise will focus on counter-terrorism operations under the United Nations Mandate. During the exercise, participants will engage in missions ranging from joint planning, operations, joint tactical drills, and will provide field commanders and troops an opportunity to interact with each other. Earlier in January, India and Saudi Arabia signed a bilateral agreement under which New Delhi has been allocated a quota of 1,75,025 pilgrims for the annual Haj pilgrimage in 2024.

 

2. Major Exercises in 2024 to Showcase Jointness: The Indian Air Force (IAF) will conduct three major exercises in 2024, emphasizing jointness across India’s defense forces as they work towards establishing theater commands. The key focus areas are integration and coordination in modern warfare. Vayu Shakti-2024 The first ..

 

SCIENCE AND TECHNOLOGY

 

1. INSAT-3DS Satellite Flagged Off: The Indian Space Research Organisation (ISRO) has flagged off its advanced meteorological satellite INSAT-3DS to the Satish Dhawan Space Centre (SDSC) in Sriharikota for an upcoming launch. The 2275 kg satellite has finished assembly, integration and testing at ISRO’s UR ..

 

BANKING AND FINANCE

 

1. Four companies get SEBI’s nod to launch IPOs: Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator SEBI’s approval to raise funds through initial public offerings. However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals. These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi). In Sebi’s parlance, obtaining observation letters means its go-ahead to launch an IPO.

Daily GK Update- 27th Jan, 2023

 

NATIONAL UPDATES:

 

1. Cabinet approves Protocol for establishment of joint Economic and Trade Committee between India and Dominican Republic: The Union Cabinet chaired by PM Narendra Modi approved the proposal for signing of a protocol for establishment of Joint Economic and Trade Committee (JETCO) between the Department of Commerce, Ministry of Commerce and Industry of the Republic of India and the Ministry of Foreign Affairs of the Dominican Republic. Bilateral relations between India and the Dominican Republic have been friendly and continue to deepen in all spheres. At present, there is no bilateral institutional mechanism between India and Dominican Republic on trade and commerce. India primarily imports gold from the Dominican Republic and exports pharmaceuticals, marine products, motor vehicles, two and three-wheelers etc. to them. The establishment of JETCO will strengthen the economic ties between India and the Dominican Republic and shall play a pivotal role and provide a platform for discussions, exchange of information, knowledge and ideas which would in turn facilitate trade and industry.

 

2. Reliance Jio and OnePlus join hands to set up 5G innovation lab in India: Telecom major Reliance Jio and Chinese smartphone company OnePlus have joined hands to set up a 5G innovation lab in India. The alliance between OnePlus and Jio aims to provide OnePlus and Jio True 5G users with differentiated features and an unparalleled network experience. To bolster these initiatives, both brands are excited to announce the establishment of a state-of-the-art 5G Innovation Lab. The lab will serve as a hub for testing and developing new technologies. 85 per cent of the entire 5G deployment in India has been made by Jio.

 

3. Tata Group, Airbus team up to make helicopters: The Tata Group and European aerospace company Airbus have signed an agreement to manufacture H125 civilian helicopters together in India. The partnership would include air and space tech, maritime tech, including underwater domain awareness, and equipment and systems related to land warfare. It also heavily focuses on cutting-edge technology, including robotics, artificial intelligence, cyber-defence, and autonomous vehicles and platforms. Also, in partnership with Tata Advanced Systems Limited (TASL), Airbus Helicopters will set up a final assembly line (FAL) for H125 civilian helicopters. This will be India’s first private helicopter manufacturing facility. The FAL will take 24 months to set up and deliveries of the first ‘made-in-India’ H125s are expected to commence in 2026.

 

4. Integrated Industrial Township, Greater Noida: Prime Minister Narendra Modi recently inaugurated the Integrated Industrial Township in Greater Noida (IITGN), a smart township spread over 750 acres. The Rs 1,700 crore project aims to compete with the world’s best manufacturing hubs by providing all necessary industrial ..

 

5. ASI’s Gyanvapi Mosque Survey Report: The Archaeological Survey of India (ASI) submitted its survey report of the Gyanvapi mosque complex in Varanasi to the district court in December 2022. The report concludes that remains of an old Hindu temple existed at the site before the ..

INTERNATIONAL UPDATES:

 

1. 27 January – International Day of Commemoration in Memory of the Victims of the Holocaust: January 27th marks a solemn occasion recognised globally as the International Day of Commemoration in memory of the victims of the Holocaust. This day serves as a poignant reminder of the horrors of the Holocaust and the enduring need to fight against hatred, bigotry, and racism in all its forms. In November 2005, the United Nations General Assembly designated January 27 as an “International Day of Commemoration in memory of the victims of the Holocaust”(Resolution 60/7). It reaffirmed that the Holocaust, which resulted in the murder of one-third of the Jewish people, along with countless members of other minorities, will forever be a warning to all people of the dangers of hatred, bigotry, racism, and prejudice. On January 27, 2006, the first worldwide International Holocaust Remembrance Day celebrated.

 

2. India-France Defence Industrial Roadmap and Comprehensive Dialogue on Global Issues: India and France have formulated a defence industrial roadmap to boost collaboration in defence production and design of military platforms. This comes amid progress on other strategic agreements during French President Emmanuel Macron’s visit. Joint Development and Production Plans The ..

OTHER UPDATES:

 

SPORTS

 

1. Virat Kohli wins ICC Men’s ODI Cricketer of the Year Award 2023: Indian batting maestro Virat Kohli was crowned the ICC men’s ODI Cricketer of the Year 2023 for his excellent run in the format last year headlined by a phenomenal outing in the World Cup at home. This is the fourth such award for Kohli, who was the second most prolific run-scorer in ODIs last year behind compatriot Shubman Gill. The former India skipper finished the year with 1,377 runs which included six centuries and eight half-centuries. This is the seventh individual ICC award won by Kohli during his glittering career, and his fourth in the ODI category after previous wins in 2012, 2017 and 2018. He also won the Test award in 2018 while the years 2017 and 2018 saw him also win the Sir Garfield Sobers Trophy for ICC Men’s Cricketer of the Year.

 

BANKING AND FINANCE

 

1. Bank of Baroda’s arm rebranded as ‘BOBCARD Limited’: Bank of Baroda’s wholly-owned subsidiary for cards, ‘BOB Financial Solutions Limited’, has been rebranded as ‘BOBCARD Limited’ with the tagline “Credit Reimagined”. The NBFC has also unveiled a new logo called ‘Baroda Sun’, which comprises dual ‘B’ letterforms that hold the rays of the rising sun. The rebranding embodies “revitalised commitment to reimagine the country’s credit landscape with excellent credit solutions and customer-centric offerings”. BOBCARD offers an array of consumer and commercial credit cards and caters to all segments of customers with varied needs, including shopping, travel and business cards for large corporates and MSMEs.

 

AWARDS AND HONOURS

 

1. Foxconn CEO Young Liu honoured with Padma Bhushan: In a remarkable recognition of his outstanding contributions to the technology industry, Young Liu, the Chief Executive Officer and Chairman of Foxconn, the Taiwanese multinational electronics contract manufacturer, has been bestowed with the prestigious Padma Bhushan award. Young Liu, a seasoned entrepreneur and innovator, boasts an impressive career spanning over four decades. His entrepreneurial journey began in 1988 when he founded Young Micro Systems, a motherboard company. Subsequently, in 1995, he ventured into the realm of IC design, focusing on PC chipsets. In 1997, Liu established ITE Tech, known as ITeX, marking the third successful venture in his illustrious career.

Daily GK Update- 26th Jan, 2024

 

NATIONAL UPDATES:

 

1. Odisha to Setup World’s First ‘Black Tiger Safari’: Odisha Chief Minister Naveen Patnaik has unveiled plans for the establishment of the world’s first ‘black tiger safari’ near the Similipal Tiger Reserve (STR) in Mayurbhanj. This visionary project aims to provide tourists and visitors with a rare glimpse of the melanistic tigers, commonly known as black tigers, recently spotted at the Similipal National Park. The safari will be established near Baripada over a 200-hectare area, adjoining National Highway 18. About 100 hectare will be display area and the balance area shall be utilised for creation of veterinary care facilities, including rescue center, staff infrastructure, and visitor amenities.

 

2. India’s second VLF communication station to come up in Telangana: The State government has transferred 1,174 hectares of forest land under the Damagudem Reserve Forest near Pudur village in Vikarabad district to the Indian Navy to set up India’s second Very Low Frequency (VLF) radar station. The Navy had been in discussions with the State government since 2010, but the allocation of land faced delays under the previous governments. The Union Forest and Environment Department approved the Navy’s proposals in 2014. Campa funds of ₹133.54 crore were allocated for the transfer of forest land, and the Navy contributed ₹18.56 crore for land conservation measures. The naval unit is expected to house approximately 600 naval personnel and civilians, providing homes for around 2,500 to 3,000 people.

 

3. MoD inks ₹1,070 crore pact with Mazagon Dock Shipbuilders for 14 fast patrol vessels for ICG: The Ministry of Defence has signed a contract with Mumbai-based Mazagon Dock Shipbuilders Ltd (MDL) for the acquisition of 14 fast patrol vessels (FPVs) for the Indian Coast Guard (ICG) at a cost of ₹1,070.47 crore. These multi-role FPVs will be indigenously designed, developed, and manufactured by MDL under Buy (Indian-IDDM) Category and will be delivered in total 63 months. These modern FPVs will play a critical role in enhancing fisheries protection and monitoring, control and surveillance, anti-smuggling operations, search and rescue operations including in shallow waters, assistance to ship/crafts in distress, towing capabilities, assistance and monitoring during marine pollution response operations, anti-piracy operations.

 

4. PM Vishwakarma beneficiaries invited as “special guests” to witness the Republic Day Parade 2024: The beneficiaries under the PM Vishwakarma Scheme have been invited by the Ministry of Defence as “Special Guests” to witness the Republic Day Parade, 2024 at Kartavya Path, New Delhi. The PM Vishwakarma Scheme was launched on 17.09.2023 by the Prime Minister of India.

This is a holistic scheme that provides end-to-end support to the artisans & craftspeople belonging to 18 trades. As on date, a total of 2,85,420 applications have been registered successfully under the scheme. 256 beneficiaries of PM Vishwakarma scheme, along with their spouse, are attending the Republic Day Event on 26th January 2024. These beneficiaries belong to rural and urban areas of 20 States, including North Eastern States and 4 Union Territories. Few of them are from Aspirational districts.

INTERNATIONAL UPDATES:

 

1. Cabinet Approved for India-Oman IT Cooperation MoU: The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has approved the MoU between the Ministry of Electronics and Information Technology of India and the Ministry of Transport, Communications, and Information Technology of Oman. The MoU, inked on December 15 last year, aims to foster collaboration and cooperation in the field of Information Technology (IT). The comprehensive cooperation outlined in the MoU covers a spectrum of activities, including mutual support, sharing of technologies, information exchange, and investments in the IT sector. This move is anticipated to strengthen the ties between India and Oman, promoting bilateral collaboration in both government-to-government (G2G) and business-to-business (B2B) dimensions.

 

2. Saudi Arabia to Open First Alcohol Store for Diplomats: Saudi Arabia will open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats. Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases. The move is a milestone in the kingdom’s efforts, led by Saudi Crown Prince Mohammed bin Salman, to open the ultra-conservative Muslim country for tourism and business as drinking alcohol is forbidden in Islam. This move is expected to enhance Saudi Arabia’s diplomatic relations, particularly with Western countries, where alcohol consumption is a part of social and official engagements.

 

OTHER UPDATES:

DEFENCE

 

1. India, France, UAE conduct mega air exercise over Arabian Sea: India, France, and the United Arab Emirates (UAE) carried out a mega air exercise over the Arabian Sea against the backdrop of rising global concerns over Houthi militants targeting several commercial vessels in the strategic waterways in the region. The ‘Desert Knight’ exercise featured several frontline aerial assets and combat jets of the air forces of the three countries. The Indian Air Force (IAF) component at the drills consisted of Su-30 MKI, MiG-29, and Jaguar fighter jets besides AWACS (airborne early warning and control aircraft, C-130-J transport plane, and air-to-air refuelling aircraft. The main focus of exercise ‘Desert Knight’ was enhancing synergy and interoperability between the three air forces,” the Indian Air Force said.

 

BANKING AND FINANCE

 

1. REC to lend 1.2 trillion for solar panels: State-run REC ‘a Maharatna power finance company’ will lend up to ₹1.2 trillion for the installation of rooftop solar panels under the Pradhan Mantri Suryoday Yojana. The company has been designated as the programme implementation agency for the implementation of the scheme and its board of directors has approved letters of credit of about ₹15,000 crore each for eight central public sector undertakings would set up the rooftop panels across states. The Ministry of New and Renewable Energy has designated REC as the overall programme implementation agency for the implementation of rooftop solar in the country and we have been given a target of 1 crore households to be covered in a period of 1 year.

 

2. HDFC Bank first lender to issue 20 million credit cards: HDFC Bank, India’s largest private sector bank, has become the first lender in the country to achieve the milestone of 20 million credit cards in force. The lender forayed into the credit card business in 2001 and hit the 10-million mark in 2017. The next 10 million issuances came in a little over six years. HDFC Bank is the largest issuer of card issuers in the country, which commands over a fourth of the overall card market in terms of numbers. According to the Reserve Bank of India data for November 2023, HDFC Bank’s cards in circulation stood at nearly 19.51 million as compared to 19.18 million cards in October 2023.

 

3. LIC gets RBI nod for 9.99% stake buy in HDFC Bank: The Reserve Bank of India has approved insurance behemoth Life Insurance Corporation of India’s (LIC) application to acquire up to 9.99 percent aggregate holding of paid-up share capital in HDFC Bank, the country’s largest private sector bank. The approval has been granted with reference to the application made by LIC to RBI.

LIC has been advised by RBI to acquire the major shareholding in HDFC Bank within a period of one year. Further, LIC must ensure that the aggregate holding in the Bank does not exceed 9.99% of the paid-up share capital or voting rights of the Bank at all times.

 

AWARDS AND HONOURS

 

1. Padma Awards 2024 Announced: Former Vice-President M. Venkaiah Naidu, actors Chiranjeevi and Vyjayanthimala Bali, and Bharatanatyam dancer Padma Subrahmanyam have been conferred with Padma Vibhushan, the country’s second-highest civilian award. While, Bindeshwar Pathak, founder of Sulabh International, conferred with the award posthumously. Late actor Vijayakant, M. Fathima Beevi, the first female judge to be appointed to the Supreme Court of India, Satyabrata Mookherjee, former president of Bharatiya Janata Party in West Bengal, and Togdan Rinpoche, spiritual leader of the Drikung Kagyu Tradition in Ladakh, were conferred with Padma Bhushan posthumously. Young Liu, chairman of Taiwan’s Foxconn Group, has also been conferred with a Padma Bhushan.

Daily GK Update- 25th Jan, 2024

 

NATIONAL UPDATES:

 

1. IIM Kashipur to host Uttishtha 2024: IIM Kashipur will host the 7th edition of Uttishtha 2024, an ‘Agri Mela’ Startup Expo scheduled for Jan 27-28. The two-day summit, organized by the Foundation for Innovation and Entrepreneurship Development (FIED) and e-Cell IIM Kashipur, and supported by the Department of Agriculture and Farmers’ Welfare, aims to provide a platform for agri-startups, industry stakeholders, and investors to share insights on entrepreneurship. The event anticipates participation from over 2,000 business-school students, over 20 vice-chancellors and entrepreneur talks, and more than 100 startups.

 

2. 14th All India Police Commando Competition organized in Visakhapatnam: The 14th All India Police Commando competition organized at the A.P. Police Greyhounds Training Facility, Around 16 states have sent their elite commando forces for the competition including forces such as the Special Operations Group (SOG) from Odisha and Chhattisgarh, C- 60 from Maharashtra, the paramilitary forces such as BSF, CRPF, Assam Rifles, ITBP, RPF, SSB and CISF, among others. Each team will comprise 13-15 commandos and the competition will be held in five phases in a week, wherein the participants’ skill, endurance and teamwork will be tested. The commandos will be judged by an expert team from the Intelligence Bureau (IB). The State team comprises personnel from the Greyhounds and Octopus.

 

3. Vice-President inaugurated ‘Hamara Samvidhan, Hamara Samman’ campaign: The Vice-President, Jagdeep Dhankhar has inaugurated a year-long pan-India campaign ‘Hamara Samvidhan, Hamara Samman’ to commemorate the 75th Year of India as Republic at Dr. Ambedkar International Centre. The campaign aims to reaffirm our collective commitment to the principles enshrined in the Constitution of India and celebrate the shared values that bind our nation. This nationwide initiative envisages to instill a sense of pride and responsibility to uphold the ideals outlined in the constitutional framework. Another activity named Nav Bharat Nav Sankalp aims to encourage the masses to embrace the resolutions of Panch Pran by reading the Panch Pran Pledge. The third activity Vidhi Jagriti Abhiyan aims to involve the students to carry the message Panch Pran in the villages adopted by the Law colleges, under the Pro Bono Club scheme.

 

4. DGCA slaps Rs 1.10 crore penalty on Air India for safety violations: Aviation regulator Directorate General of Civil Aviation (DGCA) has imposed a penalty of Rs 1.10 crore on Air India for safety violations amid a series of incidents of flight irregularities. According to the receipt of a voluntary safety report from an airline employee alleging safety violations of flights operated by Air India on certain long-range terrain critical routes. Recently, IndiGo was fined Rs 1.20 crore as the passengers of one of its flights came out on the tarmac and started eating food.

 

5. Karnataka HC Chief Justice appointed as Supreme Court judge: The Union government has approved the Supreme Court Collegium’s recommendation for elevation of Karnataka High Court’s Chief Justice Prasanna B Varale as a judge of the top court. In exercise of the powers conferred by the Constitution, President, after consultation with Chief Justice of India, is pleased to appoint Justice Prasanna Bhalachandra Varale, Chief Justice of the Karnataka High Court as Judge of Supreme Court. After the development, the Supreme Court would work with its sanctioned strength of 34 judges. On January 19, the five-judge Collegium led by Chief Justice of India D Y Chandrachud picked up name of Justice Varale, senior-most Judge belonging to a Scheduled Caste to fill up the vacancy created upon retirement of Justice Sanjay Kishan Kaul on De 2023.

 

6. 25 January – National Voters Day: The National Voters’ Day is celebrated every year in India on January 25 to encourage the country’s voters to participate in the electoral process. This year, it is the 14th edition which is being celebrated. Theme 2024 – Nothing Like Voting, I Vote For sure

The first-ever National Voters’ Day was celebrated on January 25, 2011, to encourage more young voters to take part in the electoral process where the Union government, then led by Prime Minister Manmohan Singh, had approved a proposal of the law ministry to this effect.

 

INTERNATIONAL UPDATES:

 

1. Sankey Prasad appointed as CMD for Project Leaders Middle East: Global diversified professional services and investment management company has appointed Sankey Prasad as Chairman and Managing Director (CMD) for India and Middle East Engineering and project management business, which is under the name of Colliers Project Leaders Middle East. Under Prasad’s leadership in India, Colliers has diversified into new markets, developed cutting-edge technologies, expanded its range of services, delivered more than 130 million square feet of real estate development spanning India, West Asia, Africa, and South Asia, and achieved 30 percent y-o-y growth in four years.

 

2. 24 January – International Day of Education: The International Day of Education is observed across the globe on January 24 to underscore education as a basic human right and a public responsibility. International Day of Education is envisioned to promote gender equality, inclusivity, and poverty eradication through quality education and democratic participation. Theme 2024 – Learning for lasting peace On December 3, 2018, the United Nations General Assembly (UNGA) adopted a resolution that proclaimed January 24 as the International Day of Education. The UNGA aimed to highlight and celebrate the role of learning for development. The adoption of the resolution 73/25 “International Day of Education” was co-authored by Nigeria and 58 other member states to promote inclusive, equitable, and quality education for all.

 

 

 

 

OTHER UPDATES:

 

SPORTS

 

1. Shastri, Engineer honoured with Col CK Nayudu Lifetime Achievement Award: Former Coach of Indian cricket team Ravi Shastri and former India wicketkeeper Farokh Engineer have been honoured with the CK Nayudu Lifetime Achievement Award by BCCI. Star batter Shubman Gill was conferred with the Polly Umrigar Best Men’s International Cricketer of the Year (2022-23) award. Last year, Gill became the fastest batsman to reach the 2000-run mark in ODIs in the process of making 1584 runs from 29 matches at an average of 63.36 including five hundreds. Young opener Yashasvi Jaiswal grabbed the award for the Best International Debut during the 2022-23 season after cracking a 171 against the West Indies at Roseau in July last year. Spinner Deepti Sharma grabbed the International Women’s Cricketer of the Year award for the 2022-23 season.

 

BANKING AND FINANCE

 

1. CCI approves proposed merger of Fincare SFB with AU Small Finance Bank: The Competition Commission of India (CCI) has approved the proposed merger of Fincare Small Finance Bank Limited into and with AU Small Finance Bank. The board of the bank had approved the merger in October 2023 following which it received the shareholder approval in November 2023. The merger is now awaiting the approval of the Reserve Bank of India. The merger will help the bank expand its reach, diversify its offerings and promote its financial inclusion portfolio. It had also guided that the merged entity should come into effect from February 1, 2024, subject to necessary approvals.

 

2. SBI Life Insurance launches two new term plans with return of premium: SBI Life Insurance, a private life insurer, has launched two products– ‘SBI Life – Saral Swadhan Supreme’ and ‘SBI Life – Smart Swadhan Supreme’. These two new products not only provide a life cover but also benefit of return of premiums at maturity, to fulfill customers’ financial objectives. The new products are designed to empower customers by catering to the growing awareness of the essential link between insurance and financial well-being. These plans offer a lumpsum benefit on the policyholder’s demise during the policy term and also pay back the total premiums paid in case the life assured survives the policy term.

 

3. Yes Bank becomes first Indian bank to conduct export finance transactions on RXIL’s ITFS: Yes Bank has become the first Indian bank to execute an export finance transaction on the International Trade Financing Services Platform (ITFS) of RXIL Global IFSC Limited (RXIL), a leading cross-border fintech company registered under the International Financial Services Centres Authority (IFSCA). This strategic partnership facilitates arranging credit for exporters and importers from both Indian and Global Institutions through Factoring, Forfaiting, and other trade financing services at competitive pricing with quick turnaround using a digital platform. This is the first transaction on the ITFS platform in collaboration with any bank in India. The collaboration between Yes Bank and RXIL is a testament to the Bank’s commitment towards digitalisation and fostering cross-border business.

 

AWARDS AND HONOURS

 

1. UP selected Subhash Chandra Bose Aapda Prabandhan Puraskar 2024: For the year 2024, 60 Parachute Field Hospital, Uttar Pradesh, in the Institutional category, has been selected for the Subhash Chandra Bose Aapda Prabandhan Puraskar-2024 for its excellent work in Disaster Management. The Government of India, under the leadership of Prime Minister Narendra Modi, has instituted an annual award known as Subhash Chandra Bose Aapda Prabandhan Puraskar to recognize and honour the invaluable contribution and selfless service rendered by individuals and organizations in India in the field of disaster management. The award is announced every year on the birth anniversary of Netaji Subhash Chandra Bose. The award carries a cash prize of Rs. 51 lakh and a certificate in case of an institution and Rs. 5 lakh and a certificate in case of an individual.

 

2. Former Bihar CM Karpoori Thakur Awarded Bharat Ratna Posthumously: Former Chief Minister of Bihar Karpoori Thakur was conferred the nation’s highest honour, Bharat Ratna, posthumously by the President of India Droupadi Murmu. The award comes 35 years after his death — Karpoori Thakur died on February 17, 1988. Karpoori Thakur, born in January 1924, was a prominent figure in Bihar’s political landscape. Known for his deep connection with the backward classes, Thakur’s political journey was marked by his steadfast commitment to social justice. He served as Bihar’s Chief Minister twice, first from December 1970 to June 1971 and again from December 1977 to April 1979.