Daily GK Update- 28th Feb, 2024

 

NATIONAL UPDATES:

 

1. Former SC judge Khanwilkar is new Lokpal chairperson: The President of India has appointed former Supreme Court judge Justice AM Khanwilkar as the Chairperson of the Lok Pal. Justice Lingappa Swamy, Justice Sanjay Yadav and Justice Ritu Raj Awasthi are the judicial members. The Lokpal has jurisdiction over central government to inquire into allegations of corruption against its public functionaries including the PM, cabinet ministers, members of parliament, Group A officers of the CG and for matters connecting them.

 

2. PM Modi to unveil Deendayal Upadhyaya statue in Maharashtra: PM Narendra Modi will visit Maharashtra's Yavatmal district where he will address one lakh members of women's self-help groups. He will disburse Rs 825 crore funds for women's self-help groups in Maharashtra. He will also inaugurate a statue of Bharatiya Jana Sangh co-founder Pandit Deendayal Upadhyaya. He will also launch the Modi Awaas Gharkul Yojana for OBC category beneficiaries in Maharashtra.

 

3. Jaishankar to confer Acharya Lokesh Muni as 'Global Jain Peace Ambassador': EAM Jaishankar will honour Acharya Lokesh Muni as the 'Global Jain Peace Ambassador' during an event in Karnataka Acharya Lokesh Muni is the founder of Ahimsa Vishwa Bharti and the World Peace Center The honour will be conferred in recognition of Acharya Lokeshji's contribution to promoting peace and harmony globally. Acharya Lokesh Muni's multifaceted role as a writer, poet, thinker, and social reformer has significantly contributed to his legacy as a peace advocate.

 

4. PM Modi launches two major initiatives to uplift MSMEs in Indian automotive: Prime Minister Narendra Modi launched the TVS Open mobility platform at Madurai. He also inaugurated the Centre of excellence on employment and livelihood. The Prime Minister said that two crore two wheelers, ten lakh commercial vehicles and lakhs of other vehicles are produced in the Country and MSMEs played a major role in boosting the big industrial sector.

 

5. PM Modi laid foundation stone of Sikkim’s First Railway Station: Prime Minister Narendra Modi has laid the foundation stone for Sikkim’s first railway station at Rangpo. The design of the Rangpo railway station will draw inspiration from the rich culture, heritage and architecture of Sikkim. The station will be a part of the under-construction 45-km rail line from Sevoke near Siliguri in West Bengal to Rangpo in Sikkim. It will have 14 tunnels and 22 bridges. The track on the Sevoke-Rangpo section of the Northeast Frontier Railway will have the capacity to handle 25 ton and trains can run at a maximum speed of 110 kmph. There will be three stations between Sevoke and Rangpo — Riyang, Teesta and Melli, all in West Bengal.

 

 

 

INTERNATIONAL UPDATES:

 

1. Amazon Web Services Collaborates with T-Hub and Minfy: Amazon Web Services (AWS) India announced its launch of an accelerator programme for space startups called AWS Space Accelerator: India. It is a technical, business, and mentorship opportunity designed to foster startups focused on space technology, and accelerate their development, with support from T-Hub and Minfy. This initiative follows a Memorandum of Understanding (MoU) signed between AWS, ISRO, and IN-SPACe in September the previous year.

 

2. WTO Implements New Regulations to Streamline Global Services Trade: The WTO has announced the enforcement of new regulations to streamline international services trade Following extensive negotiations, WTO members finalized the adoption of these rules on December 2nd, 2021 Over the subsequent year, each participating member obtained domestic approval, leading to the integration of these regulations into individual member schedules By establishing common rules and best practices, the WTO seeks to ensure that domestic policy objectives

 

3. Peru declares health emergency amidst Dengue surge: In Peru, the government has declared a health emergency due to the rapidly rising cases of dengue fever across the South American country. The health emergency was declared in 20 of Peru's 25 regions. Peru's Health Minister Cesar Vasquez said yesterday that more than 31,000 cases of dengue have been recorded till date, including 32 deaths. The move will enable the government to transfer funds more quickly to affected regions and more easily deploy doctors and nurses.

 

OTHER UPDATES:

DEFENCE

 

1. Daljit Singh Chaudhary appointed as new director general of NSG: Daljit Singh Chaudhary (1990 batch IPS officer), who is currently the DG of Sashastra Seema Bal (SSB), has been given the additional charge of heading the NSG. NSG is India’s counter terrorism force,trained to deal with specific situations and used only in exceptional circumstances as deemed by the government. NSG was founded on 16 October 1984, following Operation Blue Star, to combat terrorist activities and protect states against internal disturbances.

 

SPORTS

 

1. Bangladesh appoints new batting, bowling coach: The Bangladesh Cricket Board (BCB) appointed David Hemp as the national men's team batting coach for two-years. Andre Adams joined the team as the bowling coach. Hemp, who was the High-Performance Head Coach since May 2023, has already had a stint with the national side. Former New Zealand all-rounder Andre Adams has been appointed as the national team's bowling coach.

 

2. New Zealand speedster Neil Wagner retires from international cricket: New Zealand fast bowler Neil Wagner (37-years) has decided to bring the curtain down on his illustrious 64-Test career for the Black Caps, formally announcing his retirement from international cricket. Wagner leaves the Test arena as the fifth-highest wicket-taker in New Zealand's history. As the fifth-highest wicket-taker in New Zealand Test history, Wagner concludes his career with 260 wickets at an average of 27.

 

SCIENCE AND TECHNOLOGY

 

1. National Science Day 2024: February 28: National Science Day is celebrated across India on February 28 to honor the discovery of the Raman Effect by physicist Sir CV Raman in 1928. This year's theme, "Indigenous Technologies for Viksit Bharat," highlights the importance of homegrown innovations and scientific progress in India. The day aims to promote scientific temper, inspire youth towards careers in science, and celebrate India's rich scientific heritage.

 

2. PM Modi announces 4 astronauts for Gaganyaan: Prime Minister Narendra Modi has revealed the name of four astronauts who have been selected for the Gaganyaan Mission. The four Indian Air Force Officers will be the first Indians to go to space from Indian soil on an indigenous space vehicle. The four astronauts are Group Captain Prashanth Balakrishnan, Group Captain Ajith Krishnan, Group Captain Angad Pratap, Wing Commander Shubhanshu Shukla. The four astronauts have undergone extensive training at Russia and the program is now underway in India at ISRO training facility.

 

BANKING AND FINANCE

 

1. HDFC Bank Raises $300 Million through Inaugural Sustainable Finance Bond: HDFC Bank has raised $300 million in its maiden sustainable finance bond issue. The country's biggest private lender by market capitalisation priced its three-year sustainability bond at a yield of 5.196%. This is 95 basis points (bps) over the 3-year U.S. Treasury yield, sharply lower than the initial guidance of a 125-bps spread. The money raised is part of the $750 million bond-raise that will be listed on the GIFT City.

 

2. EPFO organizing its monthly district outreach programme Nidhi Aapke Nikat 2.0: Employees’ Provident Fund Organization (EPFO) is organising its monthly district outreach programme Nidhi Aapke Nikat 2.0 in over 670 districts of the country. For the ease of EPS’95 pensioners, a special dedicated Pension Helpdesk will be set up wherein various pensioners-centric services like submission of Digital Life Certificates, Enquiries, and Pension Payment Order (PPO) handover on the day of retirement will be provided. Besides, a service kiosk will also be set up with a special focus on on-the-spot grievance redressal for employees, employers and pensioners and to share information with stakeholders. The locations of camps can be accessed from the EPFO website under the What’s New section.

Daily GK Update- 27th Feb, 2024

 

NATIONAL UPDATES:

 

1. British Council brings 'Future of English' exhibition to Delhi: The UK's international organization for cultural relations and educational opportunities, is excited to announce the arrival of its global 'Future of English' exhibition to New Delhi. This exhibition is a unique display of cutting-edge developments and best practices in English language teaching, learning, and assessment. Exhibition time: 19 February 2024 to 17 April 2024.

 

2. India's first septic tank cleaning robot strengthening Swatch Bharat campaign: India's first septic tank cleaning robot is strengthening the Swachhata Abhiyan in different corners of the country. The technology called Homosep Atom solves manual cleaning methods and transforms them into robotic cleaning methods. It has been developed by the startup incubated in the Department of Science and Technology (DST)-Technology Business Incubator (TBI) of IIT Madras. It has reached 16 cities in different parts of India.

 

3. PM Modi inaugurates three space infrastructure projects worth about 1,800 c: PM Narendra Modi visited the Vikram Sarabhai Space Centre (VSSC) in Thiruvananthapuram, Kerala and inaugurated three important space infrastructure projects worth about 1,800 crore rupees. These projects include the PSLV Integration Facility at the Satish Dhawan Space Centre, Sriharikota; the new ‘Semi-cryogenics Integrated Engine and stage Test facility’ at ISRO Propulsion Complex at Mahendragiri and ‘Trisonic Wind Tunnel’ at VSSC, Thiruvananthapuram.

 

4. Anurag Thakur urges to join ‘Mera Pehla Vote Desh Ke Liye’ campaign: Union Minister Anurag Singh Thakur has urged every citizen to join the ‘Mera Pehla Vote Desh Ke Liye’ campaign, encourage young voters to exercise their democratic rights in the upcoming elections. Mr. Thakur shared the anthem of the campaign and called upon everyone to take the campaign forward in one’s ways and style. Everyone embraces this responsibility and celebrates the power of the collective voices online through the My Gov India portal as well as in the colleges

 

INTERNATIONAL UPDATES:

 

1. International Polar Bear Day 2024:February 27: International Polar Bear Day falls on February 27 every year. The day was established by Polar Bears International, a non-profit organisation dedicated to the conservation of polar bears and their habitat. It is a day to educate people about the importance of conservation efforts and inspire collective action to preserve the future of polar bears and their ecosystem.

 

2. Elena Norman resigns as Hockey India CEO: Elena Norman resigned as the CEO of Hockey India after holding the position for nearly 13 years. Hockey India, in her tenure, hosted numerous international hockey events including the FIH Champions Trophy, FIH World League Finals in 2015 and 2017, FIH Olympic Qualifiers in 2019 and 2024 as well as the FIH Hockey Pro League home games.

 

3. India and Bangladesh Collaborate for Transboundary Tiger Conservation: A cross-border initiative, focused on harmonious coexistence with tigers in the Sunderbans, seeks to preserve biodiversity in both India and Bangladesh. The people-centric engagement took place at Joymoni, Bagerhat District, Bangladesh, under the Integrated Tiger Habitat Conservation Program supported by IUCN and Germany’s KfW Development Bank. The WTI partnered with the Lokamata Rani Rashmoni Mission, Joynagar (West Bengal), and WildTeam, Bangladesh.

 

4. Japan commits ODA loan of JPY 232.209 billion for nine projects in India: The Govt. of Japan has committed an Official Development Assistance loan of an amount of JPY 232.209 billion for nine (09) projects in various sectors. India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. Economic partnership, a key pillar of India-Japan relations, has steadily progressed in the last few years.

 

5. World NGO Day 2024:February 27: World NGO Day is observed every year on February 27. World NGO Day honours the incredible contributions of non-governmental organizations (NGOs) worldwide. The World NGO Day was proposed for the first time by the Baltic Sea NGO Forum in 2010. Africa's largest mosque inaugurated in Algeria: Algeria President Abdelmadjid Tebboune inaugurated the gigantic mosque on its Mediterranean coastline after years of political upheaval transformed the project from a symbol of state-sponsored strength and religiosity to one of delays and cost overruns. The mosque has been open to international tourists and state visitors to Algeria for roughly five years. The Great Mosque of Algiers features the world’s tallest minaret, measuring 265 metres (869ft).

 

OTHER UPDATES:

 

SPORTS

 

1. Indian Squash player Abhay Singh wins Goodfellow Classic squash: Indian Squash player Abhay Singh clinched the Goodfellow Classic PSA Challenger Tour Title in Toronto, Canada. In the finals, he defeated Elliott Morris Devred of Wales by 3-0. With this win, the Asian Games Gold medalist has won his eighth PSA World Tour title.

 

2. India bags nine gold medals at Archery Asia Cup 2024 in Baghdad: India finished the Archery Asia Cup 2024 with 14 medals, including nine gold, four silver and one bronze medal in Baghdad, Iraq. In the women’s individual recurve category, three-time Olympian Deepika Kumari won the gold medal by defeating compatriot Simranjeet Kaur 6-2. Meanwhile, in an all-Indian final, Dhiraj Bommadevara beat Tarundeep Rai 7-3 to win the men’s recurve archery title. India swept the top podiums in all the individual events, clinching top positions in both the men’s and women’s compound events.

 

BANKING AND FINANCE

 

1. Vijay Shekhar Sharma resigns as chairman of Paytm Payments Bank: Paytm founder Vijay Shekhar Sharma has resigned as part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL). The banking regulator had ordered the fintech firm to stop its banking activities after February 29 and later extended the deadline to March 15. Sharma owns a 51% stake in Paytm Payments Bank, while One 97 Communications, as Paytm is formally known, owns the rest.

Daily GK Update- 26th Feb, 2024

 

NATIONAL UPDATES:

 

1. PM Modi inaugurateS Bharat Tex 2024 at Bharat Mandapam in New Delhi: PM Narendra Modi inaugurated the Bharat Tex 2024 at Bharat Mandapam in New Delhi. The 4-day textile event is considered one of the largest-ever global textile events to be organised in India. The Bharat Tex 2024 will feature over 65 knowledge sessions with more than 100 global panelists discussing various issues facing the sector. The Bharat Tex is expected to witness more than 40 thousand business visitors, besides  students, weavers, artisans and textile workers.

 

2. President Murmu inaugurated ‘Purple Fest’ in Rashtrapati Bhawan: President Droupadi Murmu inaugurated a day long ‘Purple Fest’ at Amrit Udyaan in Rashtrapati Bhawan. The Department of Empowerment of Persons with Disabilities under the Ministry of Social Justice and Empowerment is organizing the Purple Fest after the success of ‘International Purple Fest, 2024’ at Goa in January. The key activities at ‘Purple Fest’, Know your Disabilities, Purple Cafe, Purple Kaleidoscope, Purple Live Experience Zone, and Purple Sports.

 

3. Ministry of YAS unveils logo for 7th North East Youth Festival 2024: The Ministry of Youth Affairs and Sports  revealed the logo for the upcoming 7th North East Youth Festival 2024, symbolizing the essence of the eight northeastern states. Further, Phayre's leaf monkey was declared the mascot for the festival. Scheduled to occur in Tripura from February 26 to 29, extravaganza will showcase a diverse array of cultural events. It will bring together youth representatives from the National Service Scheme (NSS) and Nehru Yuva Sansthan.

 

4. Khattar launches initiative for early detection of breast cancer: Haryana CM Manohar Lal Khattar inaugurated the ‘Savera’ programme, aimed at early detection and prevention of breast cancer, a growing concern among women. Under the ‘Savera’ programme, the help of visually impaired women will be taken for screening of breast cancer. In the first phase, this programme will be implemented in the Civil Hospital of Sector-10 of Gurugram, the Polyclinic of Sector-31 and the Primary Community Center of Wazirabad village in Gurugram.

 

5. PM Modi inaugurates India’s longest cable-stayed bridge Sudarshan Setu: Prime Minister Narendra Modi has inaugurated the Sudarshan Setu, India’s longest cable-stayed bridge, connecting Okha mainland and Beyt Dwarka. The unique design of the bridge includes a footpath with verses from the Bhagavad Gita and images of Lord Krishna. The bridge, equipped with solar panels, generates one megawatt of electricity. The construction of the 2.32 km bridge, costing Rs 979 crore, is significant for local residents and pilgrims visiting the Dwarkadhish Temple. The bridge has a width of 27.20 metres with 2.50-metre-wide footpaths on both sides.

 

 

INTERNATIONAL UPDATES:

 

1. Palestinian PM Mohammad Shtayyeh submits resignation: Palestinian Prime Minister Mohammad Shtayyeh resigned for the formation of a broad consensus among Palestinians about political arrangements following Israel's war against the Islamist group Hamas in Gaza. The move comes amid growing US pressure on President Mahmoud Abbas to shake up the Palestinian Authority as international efforts have intensified to stop the fighting in Gaza and begin work on a political structure to govern the enclave after the war.

 

2. Maryam becomes Pakistan’s first female chief minister: The Punjab Assembly elected PML-N’s Maryam Nawaz as the first female chief minister of the province and Pakistan. Maryam clinched an overwhelming victory with 220 votes against rival Rana Aftab Ahmed Khan of the Sunni Ittehad Council (SIC). She also announced a Ramazan relief package, Nigheban, for the province. She said it included essentials worth Rs6.5 to Rs7 million which would be distributed to the public during Ramazan.

 

3. UAE removed from FATF’s global money laundering list: The Financial Action Task Force (FATF) had removed the United Arab Emirates from its “grey list” of countries subject to increased monitoring, while Kenya and Namibia were added. Countries on the list have “strategic deficiencies” in their efforts to counter money laundering and terrorist financing, but are cooperating with the global anti-money laundering watchdog to correct the problems and are subject to increased monitoring.

 

OTHER UPDATES:

DEFENCE

 

1. India – Japan Joint Exercise “DHARMA GUARDIAN” begins in Rajasthan: The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan. The Exercise is scheduled to be conducted from 25th February to 9th March 2024. Exercise ‘DHARMA GUARDIAN’ is an annual exercise and conducted alternatively in India and Japan. The contingent of both sides comprises of 40 personnel each. The Japanese contingent is represented by troops from the 34th Infantry Regiment and the Indian Army contingent is represented by a Battalion from the Rajputana Rifles.

 

SPORTS

 

1. Jacintha Kalyan becomes India's First Female Pitch Curator in WPL 2024: Jacintha Kalyan becomes India’s first female curator and is all set for an exciting WPL season ahead. Jacintha Kalyan moved from Harobele village to Bengaluru three decades ago; is overseeing pitch preparation for the first leg of Women's Premier League in Bengaluru. She will prepare the pitches for the Bangalore leg of the tournament. In the year 2018, she cleared the BCCI curatorship exam. She developed her own interest in preparing pitches.

 

BANKING AND FINANCE

 

1. India’s GDP to grow at around 6.75-6.8% in FY25: BoB: The Bank of Baroda (BoB) has projected India’s gross domestic product (GDP) to grow at around 6.75 to 6.8 per cent in FY25 and 6.8 per cent for the current financial year. The IMF has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in Oct 2023. The International Monetary Fund (IMF) has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in October 2023.

 

Daily GK Update- 25th Feb, 2024

 

NATIONAL UPDATES:

 

1. India’s First Gati Shakti Research Chair to be established at IIM Shillong: The country’s first ‘Gati Shakti Research Chair’ will be established at the Indian Institute of Management (IIM), Shillong. The Ministry of Ports, Shipping and Waterways (MoPSW) has collaborated with IIM-Shillong to set up India’s first ‘Gati Shakti Research Chair’. This initiative aims to discuss the multimodal logistics development strategy focused on connecting the North Eastern Region (NER) with wider national and international regions to fortify the local economy. Through an MoA, IIM Shillong aims to contribute significantly to comprehensive research efforts, envisioning a significant impact not only within the Northeast region but also on a national scale.

 

2. SJVN commissions 50 MW Gujrai Solar Power Station in Uttar Pradesh: SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under the administrative control of Ministry of Power, Government of India, has begun the successful commercial operation of its 50 MW Gujrai Solar Power Station in Kanpur Dehat, Uttar Pradesh. With this milestone, the total installed power capacity of SJVN stands at 2,277 MW. The 50 MW Gujrai Solar Power Station has been executed by SJVN through its renewable arm, SJVN Green Energy Limited (SGEL) at a cost of Rs 281 crores. The annual revenue from energy generated is expected to be approximately Rs 32 crores. The project will generate 107 million units in the first year and the cumulative energy generation over a period of 25 years is estimated to be 2,477 million units.

 

3. Kalyani Steels signs MoU with Odisha govt to set up manufacturing unit: Kalyani Steel Ltd has signed an MoU with the Odisha government to set up a manufacturing facility with an investment of Rs 11,750 crore. The project for manufacturing titanium metal, aerospace and automotive components and advanced speciality steel at Gajamara in Dhenkanal district will create 10,000 job opportunities. The project would catalyze the growth of micro, small and medium enterprises (MSMEs), spurring the development of a vibrant ecosystem of ancillary industries and OEM (original equipment manufacturer) suppliers, providing many more employment opportunities.

 

4. 24 February – Central Excise Day: Central Excise Day is observed every year on 24 February. The day commemorates the establishment of the Central Excise and Salt Act, which came into effect in 1944. On this day, we also honour the contributions of the Central Board of Indirect Taxes and Customs (CBIC) to the Indian economy. CBIC is the administrative authority for its subordinate organizations, which include Central Excise and Central GST Commissionerates, Central Revenues Control Laboratory, and Custom Houses.

 

INTERNATIONAL UPDATES:

 

1. PFC ties with Italian export credit agency SACE to boost India-Italy cooperation: State-owned Power Finance Corporation (PFC) has become the first government firm to collaborate with SACE, an Italian export credit agency, to boost the cooperation between the two countries. PFC is partnering with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its ‘Push Strategy’ initiative. This proposed partnership will position PFC as the first government-owned entity in India to partner with SACE under this initiative. Through this structure, PFC will benefit from an 80 per cent guarantee from SACE, with HSBC acting as a coordinating bank, lead arranger and facility agent for the financing of up to 200 million euros.

 

2. Geeta Batra is 1st Woman Director of World Bank Body: Geeta Batra, an India-born economist, has been named as the new Director of the Independent Evaluation Office (IEO) of the World Bank’s Global Environment Facility (GEF). This appointment marks a significant milestone, as Batra becomes the first woman from a developing country to assume this prestigious role. Batra, 57, is currently the chief evaluator and deputy director for evaluation at the GEF IEO, affiliated to the World Bank. Batra’s name was unanimously recommended for the coveted position at the 66th GEF council meeting held in Washington.

 

3. 23 February – World Understanding and Peace Day: World Understanding and Peace Day is every year on 23 February. This day is celebrated to promote peace, empathy and cooperation between people of various origins and cultures. In 1905, Paul P. Harris assembled a meeting with three of his friends in Chicago. This was the first meeting for the development of Rotary International. In 1910, the first Rotary Clubs in America were founded, mainly in Seattle, San Francisco, Oakland, and in Los Angeles. The club soon spread to the world and became one of the significant associations. Subsequently, the name of the association was changed to Rotating International. Rotary International’s objective is worldwide peacebuilding and positive goals.

 

OTHER UPDATES:

DEFENCE

 

1. Bhupinder Kumar (IAS) appointed as DCR of J&K and Ladakh: The Central Government has approved the appointment of Bhupinder Kumar (IAS) for the post of Director of Census Operations (DCO)/Director of Citizen Registration (DCR) (Deputy Secretary level) of Jammu & Kashmir and Ladakh. Kumar has been appointed to the post under the Central Staffing Scheme on additional charge basis with effect from the date of taking over charge of the post and for a period up to December 31, 2025 or until further orders, whichever is earlier. Kumar is a 2011-batch Indian Administrative Service (IAS) officer of AGMUT cadre.

 

2. India – Japan Joint Exercise “DHARMA GUARDIAN” begins in Rajasthan: The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan. The Exercise is scheduled to be conducted from 25th February to 9th March 2024. Exercise ‘DHARMA GUARDIAN’ is an annual exercise and conducted alternatively in India and Japan. The contingent of both sides comprises of 40 personnel each. The Japanese contingent is represented by troops from the 34th Infantry Regiment and the Indian Army contingent is represented by a Battalion from the Rajputana Rifles.

 

BANKING AND FINANCE

 

1. Zurich Insurance to acquire 70% stake in Kotak General: Private sector lender Kotak Mahindra Bank has informed the exchanges that Zurich Insurance will acquire a 70 per cent stake in the bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche. In November 2023, the bank had announced the sale of a 51 per cent stake in Kotak Mahindra General Insurance to Zurich Insurance for Rs 4,051 crore through a combination of fresh capital infusion and share purchase, followed by a 19 per cent stake sale within a period of three years. The proposed 70 per cent acquisition is subject to regulatory approval from the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI).

 

2. India’s GDP to grow at around 6.75-6.8% in FY25: BoB: The Bank of Baroda (BoB) has projected India’s gross domestic product (GDP) to grow at around 6.75 to 6.8 per cent in FY25 and 6.8 per cent for the current financial year. The IMF has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in Oct 2023. The International Monetary Fund (IMF) has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in October 2023.

 

Daily GK Update 24th Feb, 2024

 

NATIONAL UPDATES:

 

1. Madhya Pradesh govt introduces 'bag less school' once a week: The Madhya Pradesh government has announced 'bag less school' day once a week for students in classes 1 to 12, starting from the upcoming academic session in 2024-25. This decision applies to all government and private schools operating in the state. The state government, aiming to alleviate the burden on students, has issued a notice outlining the maximum permissible weight of school bags for different classes.

 

2. Three new Criminal Laws to become effective from July 1: According to the Home Ministry, the provisions of Bharatiya Nagarik Suraksha Sanhita 2023, Bharatiya Nyaya Sanhita 2023 and Bharatiya Sakshya Adhiniyam 2023 will come into force on the 1st of July.  Parliament had passed the three criminal justice bills in December last year. These three laws will replace the Indian Penal Code of 1860, the Code of Criminal Procedure of 1898 and the Indian Evidence Act of 1872.

 

3. PM Modi dedicated NTPC’s Lara Super Thermal Power Project Stage-I to Nation: Prime Minister Narendra Modi dedicated the nation Stage-I of National Thermal Power Corporation’s (NTPC) 16,00 megawatt Lara Super Thermal Power Station in Raigarh, Chhattisgarh through video-conferencing. He also laid the foundation stone of Stage-II of the Project. As per the Power Ministry, Stage-I of the station is built with an investment of approximately 15,800 crore rupees and Stage-II will entail an investment of 15,530 crore rupees.

 

4. S.P. Singh Baghel inaugurates National Public Health India Conference 2024: Minister of State for Health and Family Welfare Professor  S.P. Singh Baghel inaugurated the first National Public Health India Conference 2024 in New Delhi. The conference is being organized by the National Centre for Disease Control. The theme of the Conference is “Health Initiatives towards India’s Goal for a developed nation” The conference aims to identify and galvanize strategic health priorities for India in the next 5 years to improve health outcomes

 

5. First bullet train between Surat and Bilimoria in 2 years: Union Railways Minister Ashwini Vaishnaw said that the first section of the High Speed Rail Corridor between Surat and Bilimora will start by August 2026. The bullet train corridor will have trains running at speeds between 220 kmph and 320 kmph. It will connect Mumbai with Ahmedabad in 2.07 hours to 2.58 hours, depending on the type of train passengers take. Indian Railways is already operating more than 40 semi-high speed Vande Bharat trains across the country.

 

6. Odisha to get 32-Km-long Puri-Konark Railway project: Prime Minister Narendra Modi has sanctioned a new railway line project to connect the holy city of Puri with Konark. The Union Minister said that Rs 492 crore has been sanctioned for the construction of this 32-km-long railway line to connect Puri Jagannath temple and the Sun Temple of Konark Shri Vaishnaw also released five Commemorative Postage Stamps on Legendary Poets of Odisha and the Cultural Heritage of Western Odisha through video conferencing from Bhubaneswar

 

7. Central Excise Day 2024: February 24: The Central Excise Day is observed on February 24 every year in India and holds immense historical and administrative significance. The day commemorates the establishment of the Central Excise and Salt Act, which came into effect in 1944. On this day, we also honour the contributions of the Central Board of Indirect Taxes and Customs (CBIC) to the Indian economy.

 

INTERNATIONAL UPDATES:

 

1. GMBF Global hosted two-day business conclave Mahabiz 2024 in Dubai: The Gulf Maharashtra Business Forum (GMBF) Global hosted Mahabiz 2024 business conclave set to take place in Dubai. With the theme "Connect with Opportunities to Progress". The event aims to bring together over 700 entrepreneurs and business leaders from India, the Middle East, Southeast Asia, and Africa to encourage collaboration and uncover new business prospects.  Mahabiz 2024 will feature virtual addresses by Union Minister Nitin Gadkari.

 

2. India, Maldives and Sri Lanka’s ‘Dosti’ in Indian Ocean Region near Male: Indian and Sri Lankan coast guard ships joined the 16th edition of the trilateral Dosti exercise being held in the Maldives from February 22 to 25. This year marks a significant development with Bangladesh participating as an observer, indicating the growing importance of maritime collaboration in tackling evolving challenges. The biennial event has Indian Coast Guard Ships ICGS Samarth, ICGS Abhinav & the ICG Dornier craft in Male.

 

3. PM Modi launches World’s largest grain storage scheme: PM Narendra Modi inaugurated and laid the foundation stone for several key initiatives aimed at strengthening the cooperative sector in the country. Signifying a pivotal move towards improving food security, economic development, and governance in the cooperative domain. Sahkarita is not just a system, but also a feeling and a spirit. It can transform a simple subsistence system into a huge industrial capacity.

 

4. India and Oman agree to cooperate in field of Archives: India and Oman have mutually agreed to cooperate in the field of Archives. A delegation of the National Archives of India (NAI), visited the National Records and Archives Authority (NRAA) of Oman, aimed at exploring the areas of bilateral cooperation in the archival field. According to the Ministry of Culture, both the countries have agreed on the need for formalising the institution-to-institution cooperation.

 

 

 

OTHER UPDATES:

DEFENCE

 

1. Exercise Dharma Guardian 2024: India, Japan Military Conduct Annual Combat Drill The 5th edition Indian Army and Japan Ground Self Defence Forces joint exercise ‘Dharma Guardian 2024’ commenced on February 25th at Mahajan Field Firing Ranges in Rajasthan, India and will continue till March

Daily GK Update- 23rd Feb, 2024

 

NATIONAL UPDATES:

 

1. PM Modi unveils Sant Ravidas statue in Varanasi: Prime Minister Narendra Modi unveiled the statue of Sant Ravidas in Varanasi and offered floral tribute on the occasion of his 647th birth anniversary. The Prime Minister also laid the foundation stone for Sant Ravidas Museum and beautification of the park, worth about Rs 62 crore. The museum will have five big galleries and will provide information on the birth and spiritual life of Sant Ravidas through digital pictures and movies.

 

2. CBSE plans Open-Book Exams in selected schools for classes 9 to 12: The Central Board of Secondary Education(CBSE) is planning a pilot run of Open-Book Exams in selected schools for classes 9 to 12 later this year. The Board is planning the assessments in selected schools, targeting subjects(English, Mathematics, and Science) for Classes 9 and 10, and (English, Mathematics, and Biology) for Classes 11 and 12 The officials said, the aim is to gauge the time taken by students to complete these tests and gather feedback from stakeholders

 

3. UP govt to open breeding farms for Jamunapari goats: The Yogi Adityanath government in Uttar Pradesh will encourage people to open nuclear breeding farms to propagate genetically improved Jamunapari goat, a species native to western UP that is known for its high milk and meat yield. The government will provide subsidies to people willing to open farms and training at the sheep and goat rearing training centre at Etawah. Jamunapari goats are the heaviest and the most productive among the 32 local breeds in the country.

 

INTERNATIONAL UPDATES:

 

1. World Peace and Understanding Day 2024:February 23: World Peace and Understanding Day is celebrated worldwide on February 23 each year. World Peace and Understanding Day is celebrated to promote peace and goodwill across the world, and remind people of ways that can contribute to the world positively. This day is celebrated to promote peace, empathy and cooperation between people of various origins and cultures.

 

2. International Gita Mahotsav to commence from March 1 in Colombo: Sri Lanka’s Minister of Buddha Sasana, Religious and Cultural Affairs, Vidura Wickremanayake has said that three-day the International Gita Mahotsav will be held in Colombo from 1st of March. The purpose of the event is to popularise the timeless teachings of the Shrimad Bhagwad Gita. The festival will be held at the Nelum Pokuna Theatre premises with the financial sponsorship of Haryana’s Kurukshetra Development Board.

 

3. Scientists discover world’s largest snake in Amazon rainforest: Scientists have unveiled the existence of a colossal serpent lurking within the heart of the Amazon rainforest. This is the world’s largest snake discovered to date. Measuring a staggering 26 feet in length and weighing a hefty 440 pounds, this mammoth anaconda possesses a head comparable in size to that of a human. Its magnitude has earned it the title of the largest and heaviest snake species on the planet.

 

4. 22 February – World Thinking Day: World Thinking Day is also known as Thinking Day and is observed on 22 February annually by Girl Scouts and Girl Guides across 150 countries. The day also raises funds for the development of 10 million Girl Guides and Girl Scouts across the globe.

Theme 2024 – Our World, Our Thriving Future The history of World Thinking Day dates back to 1926 when delegates from around the world met at Camp Edith Macy in New York for the fourth World Conference of the World Association of Girl Guides and Girl Scouts (WAGGGS).

 

5. 22 February – World Scout Day: World Scout Day, which is observed on 22 February every year, is significant as it commemorates the birth anniversary of Lord Robert Baden-Powell, the founder of the Boy Scouts Movement. The day is also known as Scouts Founder’s Day. Theme 2024 – Scouts for a Better World This day is dedicated to the community service and is observed by the Boy Scouts organizations across the world. It is celebrated with various activities such as fundraising, food drives, and other community service projects.

 

OTHER UPDATES:

DEFENCE

 

1. Aeronautical Development Agency Signs MoU with Indian Air Force: Aeronautical Development Agency (ADA) has signed an MoU with the Indian Air Force (IAF) for integration of futuristic Weapons and Sensors for LCA Tejas aircraft. This will facilitate the IAF to independently carry out sensors, weapon integration and flight testing to enhance the operational capabililty of Tejas-LCA fighter. Aeronautical Development Agency (ADA) is a premier organization under the aegis of the Department of Defence R&D with mandate to Design and Develop Tejas-LCA and its Variants. ADA has successfully developed and type certified Tejas LCA with a credit of more than 10000 sorties of incident free flying. IAF has already formed two squadrons of this fighter aircraft and twin seater aircraft are also being inducted.

 

SPORTS

 

1. Pakistan’s Babar Azam becomes quickest to 10,000 runs in T20s: Pakistan’s Babar Azam has become the fastest batter to notch 10,000 runs in T20 cricket. Babar achieved this feat during a Pakistan Super League (PSL) 2024 match between Peshawar Zalmi and Karachi Kings played at the Gaddafi Stadium in Lahore. Babar scored 72 runs off 51 deliveries to reach the milestone in 271 innings. The star Pakistan batter surpassed the previous record held by West Indies’ Chris Gayle (285 innings). Virat Kohli claims the third spot on this elite list of batters having breached the 10,000 run-mark in 299 T20 innings.

BANKING AND FINANCE

 

1. Morgan Stanley projects India’s GDP growth for FY25 to 6.5%: Morgan Stanley Research projects India’s GDP growth for FY25 to moderate to 6.5%, down from the 6.9% projected for FY24. Despite this moderation, the report maintains a constructive outlook on the Indian economy, citing improvements in domestic demand and macro stability. ICRA, meanwhile, has projected the year-on-year (Y-o-Y) GDP growth to moderate sequentially to 6 per cent in Q3 FY24 from 7.6 per cent, led by agriculture and industry sectors.

 

AWARDS AND HONOURS

 

1. India's Sai Tirumalaneedi creates world's Smallest Washing Machine: Sai Tirumalaneedi, a resident of Andhra Pradesh, has etched his name in history by creating the world's smallest washing machine. Measuring a mere 37 millimeters by 41 millimeters by 43 millimeters (1.45 inches by 1.61 inches by 1.69 inches). Despite its size, the washing machine is fully functional and capable of cleaning small items.