Daily GK Update- 7th Jan, 2025

 NATIONAL UPDATES:

 

1. PM Modi inaugurates Delhi-Meerut Namo Bharat RRTS line worth Rs 4,600 crore: Prime Minister Narendra Modi has inaugurated the 13-km additional section of Delhi-Ghaziabad-Meerut Namo Bharat corridor.With this inauguration, Delhi will get its first Namo Bharat connectivity. The corridor, worth Rs 4.600 crore, will include multiple stations, with key ones in Delhi, Ghaziabad, and Meerut.Notable stations include Sarai Kale Khan, Anand Vihar, Sahibabad, and Meerut South.The corridor will feature India’s fastest rapid transit trains, known as Namo Bharat, operating at speeds up to 160 km/h. These trains are designed to significantly reduce travel time between Delhi and Meerut to about an hour. The fare from New Ashok Nagar station to Meerut South is Rs 150 for a standard coach and Rs 225 for a premium coach.

 

2. Telangana farmers to receive ₹12,000 per acre annually under Rythu Bharosa scheme: Farmers in Telangana will receive ₹12,000 per acre annually under the Rythu Bharosa scheme, as the State government has increased the cash benefit under the scheme by ₹2,000.Further, families of landless farm labourers will receive a similar amount annually under the newly introduced Indiramma Atmeeya Bharosa scheme.The government decided to provide Rythu Bharosa to every acre of cultivable land owned by the farmers without any conditions.The Rythu Bharosa scheme is not applicable to non-agricultural lands (mining, hills, real estate ventures, roads, lands used for residential, industrial, and commercial purposes, lands converted as Nala and the lands acquired by the government for various projects).

 

3. Rajiv Ranjan Singh Launches India’s First Organic Fisheries Cluster in Sikkim: Union Animal Husbandry and Fisheries Minister Rajiv Ranjan Singh has launched the country’s first organic fisheries cluster in Sikkim.The organic fish cluster in Soreng District of Sikkim will boost farmer incomes and promote sustainability in aquaculture. The project aims to sell antibiotic, chemical, and pesticide free organic fish in eco-conscious markets across the globe.Singh also inaugurated and laid the foundations for 50 key projects worth ₹50 crore under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), covering all northeastern states except Arunachal Pradesh and Mizoram in Guwahati.

 

4. Golden Jackals Resurface in Urban Mumbai: The golden jackal, a native species, has been increasingly spotted in urban areas of Mumbai, particularly in Navi Mumbai. Once thriving in mangroves and grasslands, these animals are now venturing into bustling neighbourhoods due to habitat loss caused by urban development. The Wildlife Conservation Society India conducted a survey revealing that golden jackals are predominantly nocturnal but are now seen more frequently during the day. This shift indicates their struggle to adapt to the pressures of urbanization.

 

INTERNATIONAL UPDATES:

 

1. 18th Pravasi Bharatiya Divas Convention 2025 to kick off in Bhubaneswar: The 18th Pravasi Bharatiya Divas (PBD Convention 2025), will be held at Bhubaneswar in Odisha from the 8th January.The theme of this three-day convention is “The Diaspora’s Contribution to a Viksit Bharat”.A large number of Indian diaspora members from over 50 different countries have registered to participate in the PBD Convention.Prime Minister Narendra Modi will inaugurate the PBD Convention. It will feature a virtual address by the Chief Guest, the President of the Republic of Trinidad and Tobago, Christine Carla Kangaloo.The Pravasi Bharatiya Express will be conducted under the Pravasi Teertha Darshan Yojana of the Ministry of External Affairs.

 

2. Bengaluru to host 15th Aero India 2025: The 15th edition of Asia’s biggest biennial air show and aviation exhibition – Aero India 2025 will be held at the Air Force Station, Yelahanka in Bengaluru, Karnataka. The 15th edition of the Aero India show will be held from 10-14 February 2025.The first edition of the Aero India show was organised in 1996 at the Yelahanka Air Force Station base and the last 14th edition was held in 2023 at the same venue.The Aero India show is organised by the Defence Exhibition Organisation, the Department of Defence Production, Union Ministry of Defence.The theme of the 15th Aero India is ‘The Runway to a Billion Opportunities’.

 

3. Polar Vortex Triggers Winter Storms in US: The United States is currently facing severe winter storms, impacting over 60 million people in the eastern regions. This cold spell is expected to bring temperatures as low as -50°C (-60°F). The cause is the polar vortex, a mass of extremely cold air that has expanded southwards from the Arctic. This phenomenon predominantly affects areas in the Northern Hemisphere, especially those at mid to high latitudes, leading to extreme cold weather events. The stratospheric polar vortex forms higher in the atmosphere, typically 10-30 miles (16-48 km) above the Earth’s surface. This vortex develops in autumn and dissipates in spring. When stable, it confines cold Arctic air to Polar Regions. However, if weakened, it allows frigid winds to extend southward, affecting areas as far as Florida.

 

OTHER UPDATES:

DEFENCE

 

1. Air Commodore Debakinandan Sahu Assumes Command of Base Repair Depot, Tughlakabad: Air Commodore Debakinandan Sahu assumed command of the Base Repair Depot (BRD) at Tughlakabad, succeeding Air Commodore Rishi Seth.Commissioned into the Aeronautical Engineering branch of the Indian Air Force on May 30, 1994, Air Commodore Sahu brings an illustrious career spanning over three decades to his new command.A graduate of the Air Force Technical College (AFTC), Defence Services Staff College (DSSC), and the College of Air Warfare, Secunderabad, he is recognized for his comprehensive expertise in aviation systems and Guided Weapon Missile technologies.

 

SPORTS 

 

1. Varun Tomar Clinches National Shooting Championship Title in Men’s 10m Air Pistol: Varun Tomar from the Indian Army has become the national shooting champion after winning the Men’s 10-meter Air Pistol finals of the 67th National Shooting Championship 2024 at Dr Karni Singh Shooting Range in New Delhi.Varun’s teammate Pradhyumn Singh won Silver, while Rajasthan’s Aakash Bhardwaj bagged the bronze medal.Varun Tomar also won the Men’s Junior 10-meter Air Pistol event and his teammate Pradhyumn Singh won Bronze. While Nikhil from Uttar Pradesh won the Silver medal.Moreover, in the Men’s Youth 10-meter Air Pistol event, Chirag Sharma from Uttar Pradesh won Gold, teammate Dev Pratap won Silver and Mayank Choudhary of Rajasthan won Bronze.

 

BANKING AND FINANCE

 

1. HDFC Bank to acquire up to 9.5% in Kotak Mahindra and AU, Capital SFBs: India’s largest private sector lender HDFC Bank has received the Reserve Bank of India’s approval to pick up an aggregate stake of up to 9.5% in Kotak Mahindra Bank, AU Small Finance Bank and Capital Small Finance Bank.In a regulatory filing, the apex bank, has given approval to HDFC Bank and its group companies— including HDFC Mutual Fund, HDFC Life Insurance, HDFC Pension Management, HDFC ERGO General Insurance, and others — to collectively acquire up to 9.5 per cent of paid-up share capital or voting rights in Kotak Mahindra Bank, AU Small Finance Bank and Capital Small Finance Bank.The approval is valid for a period of one year from the date of RBI’s letter, i.e., till January 2, 2026.

 

2. IndiaBonds.com Launches Digital Fixed Deposits, Expanding Fixed Income Investment Opportunities: com, a SEBI-registered Stock Broker (Debt Segment) and licensed Online Bond Platform Provider (OBPP), has introduced Digital Fixed Deposits (FDs) to its platform.This move enhances accessibility and convenience for individual investors, offering a unified solution for managing both bonds and fixed deposits seamlessly under one roof.The launch aligns with IndiaBonds.com’s vision of providing stable and rewarding investment options while simplifying portfolio management for retail investors. With fully digital and paperless onboarding, including quick KYC completion, the platform makes it easier for investors to start their fixed-income journey.Investors can earn up to 9.4% interest on their fixed deposit investments, supported by an integrated portfolio dashboard that tracks cash flows, returns, and allocations efficiently.

 

3. FIU-IND signs pact with IRDAI to share information: Financial Intelligence Unit-India (FIU-IND) and the Insurance Regulatory and Development Authority of India (IRDAI) have signed a MoU for sharing of intelligence and information to check money laundering.The MoU was signed as part of continued coordinated efforts to effectively implement the requirements of the Prevention of Money Laundering Act and Rules. As per the agreement, FIU-IND and Irdai will cooperate in the areas of mutual interest, including sharing of relevant intelligence and information, available in their respective databases.

 

 

Daily GK Update- 6th Jan, 2025

 NATIONAL UPDATES:

 

1. DPIIT Partners With Stride Ventures To Accelerate Growth And Global Expansion of Indian Startups: The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Stride Ventures, a venture debt firm, to catalyse the growth of Indian startups and widen their global footprint.The partnership will drive economic transformation and firm India’s position as a leader in innovation and manufacturing. As part of the collaboration, Stride Ventures will focus on identifying startups with high growth potential, offering funding, market access, and policy support to Indian startups aiming to expand globally and global startups entering India.

 

2. India’s Rural Poverty Down To 4.86% From 25.7% In 12 Years: SBI Report: India’s rural poverty ratio has registered a dramatic decline to 4.86 per cent in the financial year 2023-24 from 25.7 per cent in 2011-12 while urban poverty has fallen to 4.09 per cent from 4.6 per cent during this period, according to an SBI Research report.At an aggregate level, we believe poverty rates in India could now be in the range of 4 per cent-4.5 per cent with almost minimal existence of extreme poverty.The sharp decline in the rural poverty ratio is on account of higher consumption growth in the lowest 0-5 per cent decile with significant Government support and such support is important as we also find that change in food prices has significant impact on not just food expenditures, but overall expenditure in general.Based on 2023-24 fractile distribution, the sample proportion for poverty in rural areas is 4.86 per cent and 4.09 per cent in urban areas in FY24. This is also significantly lower than FY23 estimates of rural poverty at 7.2 per cent and urban poverty at 4.6 per cent.

 

3. DFS Secretary launches revamped ‘BAANKNET’ portal for e-auction of properties as one-stop destination: Financial Services Secretary M Nagaraju has launched the revamped ‘Baanknet’ portal for e-auction of properties including commercial properties, industrial land, shops, vehicles, and agricultural and non-agricultural land.This platform consolidates information on e-auction properties from all Public Sector Banks (PSBs) and offers a one-stop destination for buyers and investors to discover a wide range of assets.The listings include residential properties such as flats, independent houses, and open plots, as well as commercial properties, industrial land and buildings, shops, vehicles, plant and machinery, agricultural and non-agricultural land.

By gathering all these details in one place, it simplifies the process of finding and participating in property e-auctions, making it easier for buyers and investors to identify valuable opportunities.

 

4. Jammu is to be the 69th Railway Division of the Indian Railway: The Railway Ministry will set up a new division with headquarters at Jammu under the Northern Railway Zone by reorganising the Firozpur division.The proposed Jammu division will include five sections: Pathankot-Jammu-Udhampur (now martyr Captain Tushar Mahajan), Srinagar-Baramulla, Bhogpur Sirwal-Pathankot, Batala (excluding)-Pathankot, and Pathankot-Joginder Nagar.Currently, the Indian Railways has 68 divisions and when the notification is issued by the Indian Railways, Jammu will be the 69th division of the Indian Railways.India has the fourth largest rail network in the world after the United States of America, China, and Russia.However, the Indian railways is the world’s largest railway system under single management and the largest employer with around 1.25 million employees.

 

5. IAS Ashutosh Agnihotri Appointed Chairman & MD of Food Corporation of India: IAS officer Ashutosh Agnihotri, currently serving as the Additional Secretary in the Department of Home, Ministry of Home Affairs, has been appointed as the Chairman and Managing Director (CMD) of the Food Corporation of India (FCI).A 1999-batch IAS officer from the Assam-Meghalaya cadre, Agnihotri brings a wealth of administrative experience and expertise in administrative roles.The Food Corporation of India, established in 1965, plays a pivotal role in the country’s food security by procuring, storing, and distributing essential food grains under the Public Distribution System (PDS). The organization also supports farmers by ensuring minimum support prices and maintaining buffer stocks to stabilize prices in the market.

 

6. Nasscom foundation names Jyoti Sharma as CEO: Nasscom foundation has appointed Jyoti Sharma as its new Chief Executive Officer (CEO), succeeding Nidhi Bhasin.Sharma brings over 20 years of experience in driving social impact and leading program development, resource mobilisation, and stakeholder engagement.Established in 2001, nasscom foundation is a not-for-profit organisation representing the Indian tech industry.

 

7. 5 January – National Bird Day: National Bird Day is celebrated every year on January 5.The day is celebrated every year to raise awareness about the importance of birds and their habitats. The day also emphasizes the ecological importance of birds and the need to conserve them.Theme 2024 – Protecting Our Birds, Protecting Our Future National Bird Day was first established in 2002 by the Avian Welfare Coalition. The day not only draws attention to the pressing issues of bird extinction and habitat destruction but also encourages individuals and organisations to engage in efforts to conserve bird populations.

 

INTERNATIONAL UPDATES:

 

1. India provides $5 Lakh aid to earthquake-hit Vanuatu: The government of India has announced an aid of $ 5 lakh to the quake-hit tiny Pacific Ocean country Vanuatu. The aid will be used to support relief, rehabilitation, and reconstruction efforts in the country.The South Pacific Ocean island nation of Vanuatu was hit by successive earthquakes on 17 December and again on 22 December 2024.The first earthquake of 7.3 magnitude hit the country on 17 December which led to the death of around 14 persons and injury to over 200 people. The country declared a dawn-to-dusk curfew across the country to cope with the death and devastation caused by the earthquake. The second earthquake of 6.1 magnitude struck the country again on 22 December 2024 causing panic in the country. The successive earthquakes have caused massive damage to several commercial and residential buildings, embassies and a hospital collapsed as a result of the powerful earthquake.

 

2. India world’s sixth largest exporter of Textile & Apparel in 2023: According to the government of India, the country will emerge as the 6th largest exporter of textiles and apparel in the world in 2023. The share of the country in the world’s textiles and apparel market was 3.9 % in 2023.

China remains the largest exporter of textiles and apparel in the world followed by the European Union and Bangladesh.The export of textiles, apparel, and handicrafts during April-October month of the financial year 2024-25 was USD 21.358 billion. The total import during the period was USD 5.425 billion.The total exports of textiles, apparel, and handicraft were USD 21.358 billion during the April-October period of FY 2025.The growth in the export of all these commodities as compared to April-October FY 24 was 7 %. All the major commodities registered positive growth in exports except the wool and handloom sectors, which declined by 19% and 6% respectively.

 

3. 6 January – World Day of War Orphans: World Day of War Orphans is observed annually on January 6.The day raises awareness about the plight of children orphaned due to wars and conflicts, emphasizing their need for care, protection, and support.The day encourages global efforts to provide education, healthcare, and safe environments for children affected by war.World Day of War Orphans was founded by the French organisation SOS Enfants en Détresses. The day focuses on the lives of children impacted by war and aims to improve their future.

 

OTHER UPDATES:

DEFENCE

 

1. Goa Shipyard Launches New Fast Patrol Vessels: Goa Shipyard Limited (GSL) has made advancements in shipbuilding with the recent launch of two Fast Patrol Vessels (FPVs) for the Indian Coast Guard. This event took place on January 5, 2025, and marks a milestone in GSL’s commitment to technological innovation and operational excellence. The launch was presided over by CMD Brajesh Kumar Upadhyay, who noted that GSL has experienced a remarkable 100 per cent increase in gross revenue, surpassing the ₹2,000 crore mark. This growth reflects GSL’s dedication to modernisation and partnership with the Indian Coast Guard. The vessels, named Amulya and Akshay, were launched simultaneously, a first for GSL. The ceremony included the presence of Vandana Agrawal, Secretary (Defence Production) Sanjeev Kumar, and other dignitaries. The event was marked by traditional chants from the ‘Atharva Veda’, denoting the cultural significance of the occasion.

 

 

 

 

SPORTS 

 

1. Devajit Saikia appointed as Secretary of BCCI: Devajit Saikia has been appointed as the Chief Secretary of the Board of Control for Cricket in India (BCCI).While, Prabhtej Singh Bhatia was appointed as treasurer of BCCI.Saikia, the board’s joint secretary, has been serving as the acting secretary after Jay Shah took over as International Cricket Council (ICC) Chair in December. His elevation will leave the jt secretary’s post vacant for which elections will subsequently be held.Saikia is the advocate-general of Assam. A former first-class cricketer with four domestic caps for Assam, under him the Assam Cricket Association hosted IPL matches in Guwahati as well as warm-up matches of the 2023 ODI World Cup.

 

BANKING AND FINANCE

 

1. RBI approves merger of National Co-operative Bank with Cosmos Co-operative Bank: Reserve Bank of India has approved the voluntary merger of The National Co-operative Bank Ltd., Bangalore (Karnataka) with Cosmos Co-operative Bank Limited (Maharashtra).The Scheme of Amalgamation has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from January 6, 2025.The branches of The National Co-operative Bank Ltd., Bangalore (Karnataka) will function as branches of Cosmos Co-operative Bank Limited (Maharashtra) with effect from January 6, 2025.National Cooperative Bank Ltd. has a total of 13 branches— 12 in Bangalore and one in Mysore.

 

2. SBI launches Har Ghar Lakhpati RD scheme, SBI Patrons FD deposit scheme for these senior citizens: The State Bank of India (SBI), has launched two new deposit schemes for customers. The two new deposit schemes are: Har Ghar Lakhpati and SBI Patrons.‘Har Ghar Lakhpati’ is a pre-calculated recurring deposit scheme designed to help customers to accumulate Rs 1 lakh or multiples thereof.The new scheme simplifies the process of achieving financial goals, allowing customers to plan and save effectively. This product is also available to minors, encouraging early financial planning and savings habits.SBI has also introduced ‘SBI Patrons,’ for select senior citizens. This is a specialized fixed deposit scheme tailored for senior citizens aged 80 years and above. The new SBI scheme offers enhanced interest rates, recognizing the long-standing relationship many senior customers have with the bank. ‘SBI Patrons’ is available to both existing and new FD investors.

 

3. Punjab & Sind Bank to roll out instant loan scheme for MSMEs based on GST return: State-owned Punjab & Sind Bank will launch instant loan scheme up to Rs 25 lakh for the MSME sector during this month as part of its initiative to push credit through its digital platform.As part of its transformative agenda, the bank has already introduced digital home loan and vehicle loan schemes under which in-principle approval to an application is given within 15 minutes.The journey from applying the loan to sanction, for both the segments i.e. PSB e-Apna Ghar and PSB e-Apna Vahan (launched last month), is based on Straight Through Process (STP) which runs on a pre-defined Business Rule Engine (BRE). This automated approach eliminates manual intervention at the processing and sanctioning stage, enhancing the speed, efficiency, and customer experience.

 

 

Daily GK Update- 5th Jan, 2025

 NATIONAL UPDATES:

 

1. Women Entrepreneurship Platform Partners with Mira Bhayandar Municipal Corporation to Empower Women Entrepreneurs : The Mira Bhayandar Municipal Corporation (MBMC) has conceptualized a flagship initiative called ‘Faral Sakhi’, aimed at empowering women entrepreneurs in the city of Mira Bhayandar, Maharashtra.The program will provide comprehensive training and support to help women entrepreneurs engaged in traditional snack production to scale their ventures sustainably and effectively.MBMC collaborated with the Women Entrepreneurship Platform (WEP) of NITI Aayog and formally launched ‘Faral Sakhi’ under the Award to Reward initiative of WEP.WEP, incubated in NITI Aayog in 2018 as an aggregator platform, transitioned into a public-private partnership in 2022.The ‘Faral Sakhi’ initiative aims at creating permanent employment opportunities for women by engaging them in the production and sale of traditional festive snacks (‘Faral’).

 

2. India submits its 4th Biennial Update Report to the United Nations Framework Convention on Climate Change: India’s 4th Biennial Update Report (BUR-4) to the United Nations Framework Convention on Climate Change (UNFCCC) was submitted on 30th December 2024. The BUR-4 updates the Third National Communication (TNC) and contains the National Greenhouse Gas (GHG) inventory for the year 2020.The report also embodies information on India’s national circumstances, mitigation actions, an analysis of the constraints, gaps, related finance, technology, and capacity-building needs.

 

3. IIT Madras partners with Union govt. to enhance agricultural extension system: The Indian Institute of Technology, Madras, has collaborated with the Union Ministry of Agriculture and Farmers Welfare on a project to improve the efficiency and effectiveness of agricultural extension system through digitalisation.Vistaar (Virtually Integrated System To Access Agricultural Resources) is a pilot project wherein the institute’s expertise will be used. The Centre for Research on Startups and Risk Financing and the startup it incubated, YNOS Venture Engine, have developed comprehensive information on the Indian startup landscape.The institute and the agriculture ministry have signed a memorandum of understanding (MoU) to enrich the Vistaar platform with information about startups in agriculture and allied sectors. This will enable farmers and stakeholders in agriculture and allied sectors to be aware of the capabilities and offerings of startups.

 

4. Amit Shah released Jammu Kashmir & Ladakh Through The Ages Book: Union Home Minister and Minister of Cooperation, Amit Shah has released the book ‘Jammu Kashmir & Ladakh Through the Ages: A Visual Narrative of Continuities and Linkages’ in New Delhi.The editor of the book is Professor Raghuvendra Tanwar, Chairman, Indian Council of Historical Research (ICHR).

 

5. Telangana Government Engages IIT to Study Polavaram Irrigation Project: The Telangana government has initiated a collaboration with experts from the Indian Institute of Technology, Hyderabad (IIT-H) to assess the effects of the Polavaram irrigation project on the Godavari River. This decision follows concerns regarding the project’s impact on local ecosystems and communities. The Polavaram project aims to provide irrigation to approximately 295,000 hectares, stabilise an additional 400,000 hectares, and supply drinking water to 540 villages, benefiting around 285,000 individuals. The chief minister of Telangana, A Revanth Reddy, has expressed concerns about the potential impact of the Polavaram project on the Lord Ram temple in Bhadrachalam. In 2022, flooding caused damage in the area, denoting the risks posed by the project. The IIT-H study aims to evaluate these threats comprehensively.

 

INTERNATIONAL UPDATES:

 

1. The Discovery of Pallas’s  Cat in India: The decline of feline species worldwide, especially big  cats like snow leopards, is alarming. Conservationists are increasingly concerned about their dwindling populations, primarily due to habitat loss, poaching, and climate change. Snow leopards inhabit high mountain ranges across Central and South Asia. Recently, finding occurred in Himachal Pradesh, India, where the elusive Pallas’s cat was photographed for the first time. This discovery marks the importance of conservation efforts and the need to protect lesser-known species. Pallas’s cat, scientifically known as Otocolobus manul, is a small wild feline native to the steppes of Central Asia. Named after the German naturalist Peter Simon Pallas, who described it in 1776, this cat has a unique appearance. It features a flat face, short legs, and thick fur, which help it survive in harsh, high-altitude environments.

 

2. Unrwa Faces Closure Amidst Rising Tensions: The United Nations Relief and Works Agency for Palestine Refugees in the Near East (Unrwa) is on the brink of closure due to new Israeli legislation. This agency provides essential services to Palestinians in the West Bank and Gaza Strip. The impending halt of its operations poses threat to the livelihood of many families, including those like the Hashash family in Balata Camp, who rely heavily on Unrwa for healthcare, education, and food assistance. Unrwa was established in 1949 to support Palestinian refugees. It operates nearly 100 schools and numerous health facilities in the West Bank. The agency serves over 5 million registered refugees, providing vital services such as food aid, medical care, and education. In Balata Camp alone, Unrwa runs four schools and a health centre, employing around 200 people.

OTHER UPDATES:

DEFENCE

 

1. Kerala Forest Act Amendment Sparks Controversy: The Kerala government has introduced a Bill to amend the Kerala Forest Act of 1961. This Bill is set to be debated in the upcoming session of the state Assembly. Farmer organisations have expressed concerns regarding the proposed amendments. They argue that the changes will negatively impact the lives of residents in approximately 430 village panchayats. The primary aim of the Kerala Forest (Amendment) Bill, 2024, is to prevent the forest from being used as a dumping ground for waste materials. The Bill seeks to criminalise the act of dumping waste in rivers within forest areas or in bodies of water that lead into these regions. Additionally, it proposes to enhance the powers of forest officers and increase fines for various offences.

 

SCIENCE AND TECHNOLOGY

 

1. India Unveils Draft Rules for Data Protection: On January 3, 2024, the Ministry of Electronics and Information Technology (MeitY) released the draft rules for the Digital Personal Data Protection Act (DPDP). This announcement follows the Act’s passage in Parliament in August 2023. The government has opened a feedback window via the MyGov portal, allowing stakeholders to submit their comments until February 18, 2025. The anticipation surrounding these rules is high, as they are expected to clarify various facets of the law. The draft rules aim to provide clarity on several important topics. They cover the obligations of data fiduciaries, the role of consent managers, and the handling of children’s personal data. Additionally, they outline the establishment of the Data Protection Board, which will oversee compliance and address breaches.

 

2. NASA Unveils Mars Chopper  Drone Successor: NASA has recently introduced the Mars Chopper, a new  drone designed to succeed the Ingenuity helicopter. Ingenuity operated on Mars for nearly three years, far exceeding its initial mission parameters. The Mars Chopper represents advancement in aerial exploration capabilities on the Red Planet. The Mars Chopper is approximately the size of an SUV. It features six rotors, each with six blades, which are smaller than those of Ingenuity. This innovative design is expected to provide enhanced lift and stability during flight. The bulkier structure allows for a greater payload capacity, enabling it to carry up to five kilograms of scientific instruments

 

BANKING AND FINANCE

 

1. Federal Bank launches digital platform FedOne for corporate banking: Federal Bank, one of India’s largest private sector banks, has launched FedOne, a new transaction banking platform powered by Nucleus Software’s FinnAxia solution.The implementation, completed after a 10-month collaboration, aims to modernize the bank’s corporate banking services.Federal Bank, one of India’s leading private sector banks, has marked a significant milestone in its digital transformation journey with the launch of FedOne™, powered by Nucleus Software’s advanced transaction banking platform, FinnAxia®.FedOne™ is set to revolutionise the corporate banking landscape, enabling Federal Bank to seize emerging business opportunities and deliver exceptional value through streamlined processes and advanced technology.

 

1. CCI Sets New Standards in M&A Regulations: The Competition Commission of India (CCI) has made strides in regulatory efficiency, particularly in the realm of mergers and acquisitions (M&A). The Annual Report for FY 2023-24 revealed that the average clearance time for mergers is now just 16 days. This marks a notable improvement from previous years and reflects CCI’s dedication to maintaining a competitive market while ensuring fair practices. The Green Channel Scheme, introduced in August 2019, has revolutionised the M&A landscape. This scheme allows automatic approvals for combinations that do not present horizontal, vertical, or complementary overlaps. Since its launch, 100 combination notices have been filed under this scheme. Despite a slight decrease in usage from 27% in FY 2021-22 to 22% in FY 2023-24, it remains a preferred option for businesses seeking quick clearance.

 

AWARDS AND HONOURS

 

1. Biden Awards Presidential Medal of Freedom 2025: On January 5, 2025, President Joe Biden honoured 19 distinguished individuals during a ceremony at the White House. This event recognised contributions across various fields, including politics, entertainment, and sports. The honourees included prominent figures such as Hillary Clinton, philanthropist George Soros, and posthumously awarded Robert F. Kennedy. Notable personalities like Lionel Messi, Jane Goodall, and Denzel Washington were also among the recipients. Messi could not attend due to prior commitments.

 

Daily GK Update- 4th Jan, 2025

 NATIONAL UPDATES:

 

1. Maharashtra government launches15 day reading campaign amongst students: The Maharashtra government has launched a 15 day “reading campaign amongst students” starting 1 January 2025. The scheme was announced by the Minister for Higher and Technical Education Minister of Maharashtra government Chandrakant Patil.The state government has also set up committees at various levels that will oversee the reading campaign across the state.The state government has also announced that it will honour the winners of the various activities conducted by the state government as part of the reading campaign. The 15-day reading campaign will be under the Higher and Technical Education Department of the Maharashtra government. It will be held every year from 1-15 January.

 

2. Women Entrepreneurship Platform Partners with Mira Bhayandar Municipal Corporation to Empower Women Entrepreneurs: The Mira Bhayandar Municipal Corporation (MBMC) has conceptualized a flagship initiative called ‘Faral Sakhi’, aimed at empowering women entrepreneurs in the city of Mira Bhayandar, Maharashtra.The program will provide comprehensive training and support to help women entrepreneurs engaged in traditional snack production to scale their ventures sustainably and effectively.MBMC collaborated with the Women Entrepreneurship Platform (WEP) of NITI Aayog and formally launched ‘Faral Sakhi’ under the Award to Reward initiative of WEP.WEP, incubated in NITI Aayog in 2018 as an aggregator platform, transitioned into a public-private partnership in 2022.

 

3. Blinkit launches 10-minute ambulance service, starting with Gurugram: Quick-commerce company Blinkit has launched a 10-minute ambulance service in Gurugram. Blinkit plans to expand the service to other cities in India in the next two years.The ambulances would have medical equipment such as oxygen cylinders, AEDs (Automated External Defibrillator), stretchers, monitors, suction machines, emergency medicines, and injections. The ambulance will come with a paramedic, an assistant, and a trained driver.While the first five ambulances will immediately take to the roads of Gurugram, more users will be able to book a Basic Life Support (BLS) ambulance through the Blinkit app.CEO of Blinkit – Albinder Dhinds

 

4. India’s achievements in respect of the NDC targets: India has progressively continued decoupling economic growth from GHG emissions. Between 2005 and 2020,India’s emission intensity of Gross Domestic Product (GDP) was reduced by 36%.By October 2024, the share of non-fossil sources in the installed electricity generation capacity was 46.52%. The total installed capacity of renewable power, including large hydropower, is 203.22 GW and the cumulative renewable power installed capacity,(excluding large hydro projects) has increased 4.5 times from 35 GW in March 2014 to 156.25 GW.India’s forest and tree cover has consistently increased and currently stands at 25.17% of the total geographical area of the country. During 2005 to 2021, additional carbon sink of 2.29 billion tonnes of CO2 equivalent has been created.

 

5. IIT Madras partners with Union govt. to enhance agricultural extension system: The Indian Institute of Technology, Madras, has collaborated with the Union Ministry of Agriculture and Farmers Welfare on a project to improve the efficiency and effectiveness of agricultural extension system through digitalisation.Vistaar (Virtually Integrated System To Access Agricultural Resources) is a pilot project wherein the institute’s expertise will be used. The Centre for Research on Startups and Risk Financing and the startup it incubated, YNOS Venture Engine, have developed comprehensive information on the Indian startup landscape.The institute and the agriculture ministry have signed a memorandum of understanding (MoU) to enrich the Vistaar platform with information about startups in agriculture and allied sectors. This will enable farmers and stakeholders in agriculture and allied sectors to be aware of the capabilities and offerings of startups.

 

6. Faiz Ahmed Kidwai appointed as Aviation Body Chief: Senior IAS officer Faiz Ahmed Kidwai has been appointed the chief of Directorate General of Civil Aviation (DGCA).The 1996-batch Indian Administrative Service (IAS) officer of Madhya Pradesh cadre is currently Additional Secretary in the Department of Agriculture and Farmers Welfare.Ashutosh Agnihotri, Additional Secretary in the Home Ministry, has been named Chairman & Managing Director of Food Corporation of India (FCI).Senior bureaucrat Akash Tripathi has been appointed as Additional Secretary in the Ministry of Power.Kamal Kishore Soan, Additional Secretary in the Labour Ministry, will now be Additional Secretary & Mission Director, Jal Jeevan Mission under the Department of Drinking Water & Sanitation.

 

INTERNATIONAL UPDATES:

 

1. India submits its 4th Biennial Update Report to the United Nations Framework Convention on Climate Change : India’s 4th Biennial Update Report (BUR-4) to the United Nations Framework Convention on Climate Change (UNFCCC) was submitted on 30th December 2024. The BUR-4 updates the Third National Communication (TNC) and contains the National Greenhouse Gas (GHG) inventory for the year 2020.The report also embodies information on India’s national circumstances, mitigation actions, an analysis of the constraints, gaps, related finance, technology, and capacity-building needs.

 

2. Pakistan begins its two-year tenure as non-permanent member of UNSC: Pakistan began its two-year tenure as a non-permanent member of the United Nations Security Council (UNSC) on January 1. Pakistani delegation will play an active and constructive role in addressing key challenges facing the world.Pakistan will sit in the Security Council for the 2025-26 term as a non-permanent member the eighth time that the country has had a seat on the 15-member body’s horseshoe table.Pakistan replaced Japan, which currently occupies the Asian seat in the Security Council, a primary instrument for establishing and maintaining international peace.Pakistan’s earlier terms on the council were in 2012-13, 2003-04, 1993-94, 1983-84, 1976-77, 1968-69 and 1952-53.

3. 4 January – World Braille Day: World Braille Day is observed every year on January 4.

Objective – To raise awareness about the importance of Braille as a means of communication for blind and partially sighted people.In 2018, the United Nations General Assembly decided to proclaim January 4 as World Braille Day as a tribute to Louis Braille, the visionary behind the braille system.Louis Braille, inventor of the braille code, was born on January 4, 1809, in France’s Coupvray. When he was three, Braille injured his eye with a sharp tool while he was playing in his father’s shop. Even after the best care, the infection in his eye soon spread to the other one and he was left completely blind.

 

OTHER UPDATES:

DEFENCE

 

1. 2 January 2025 – 67th Foundation Day of DRDO: The Defence Research and Development Organisation (DRDO) celebrated its 67th Foundation Day on January 2, 2025.Since its establishment in 1958, DRDO has grown from a modest setup of 10 laboratories to a robust network of 52 laboratories and 5 DRDO Young Scientist Laboratories (DYSLs), covering a vast spectrum of defence technologies.On 2025 being declared as the ‘Year of Reforms’, Raksha Mantri asserted that DRDO will play a crucial role in achieving the set objectives.

 

BANKING AND FINANCE

 

1. SBI introduces TAB-based digital NRI account onboarding journey: State Bank of India (SBI) has introduced a TAB-based digital onboarding process for Non-Resident Indians (NRIs) to simplify the opening of NRE and NRO accounts.The new initiative is now accessible at all SBI branches in India and select foreign offices. By utilising digital tools, the bank aims to enhance the efficiency and convenience of the account opening process.The digital onboarding process eliminates the need for physical paperwork, enabling quicker account openings at branches and during customer visits through digital document verification. This streamlined approach is designed to make the process more efficient and convenient for NRIs.An NRI bank account is a tailored banking solution available to Indian citizens or Persons of Indian Origin (PIOs) residing overseas, offered by Indian financial institutions. 

 

2. Federal Bank launches digital platform FedOne for corporate banking: Federal Bank, one of India’s largest private sector banks, has launched FedOne, a new transaction banking platform powered by Nucleus Software’s FinnAxia solution.The implementation, completed after a 10-month collaboration, aims to modernize the bank’s corporate banking services.Federal Bank, one of India’s leading private sector banks, has marked a significant milestone in its digital transformation journey with the launch of FedOne™, powered by Nucleus Software’s advanced transaction banking platform, FinnAxia®. FedOne™ is set to revolutionise the corporate banking landscape, enabling Federal Bank to seize emerging business opportunities and deliver exceptional value through streamlined processes and advanced technology.

 

 

Daily GK Update- 3rd Jan, 2025

 NATIONAL UPDATES:

 

1. Cabinet approves Rs 69,515 crore boost for PM Fasal Bima Yojana: The Union Cabinet approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) until 2025-26. The decision was made with a total outlay of Rs 69,515.71 crore.This extension ensures that farmers will continue to receive coverage for crop losses due to non-preventable natural calamities.In addition to the continuation of the schemes, the Cabinet also approved the creation of a Fund for Innovation and Technology (FIAT) with a corpus of Rs 824.77 crore.This fund will support technological initiatives, such as the YES-TECH (Yield Estimation System using Technology) and WINDS (Weather Information and Network Data Systems), aimed at enhancing the efficiency and transparency of claim settlements.

 

2. Groundwater recharge up by 15 billion cubic meters -Jal Shakti Ministry: The Groundwater recharge in the country has increased by 15 billion cubic meters and the groundwater extraction has declined by 3 billion cubic meters from the 2017 to 2024 period.The latest status of the groundwater recharge in the country ending 31st December 2024 was released by the Union Ministry of Jal Shakti in its Dynamic Ground Water Resource Assessment Report 2024.The groundwater assessment was carried out by the Central Ground Water Board (CGWB), under the Union Jal Shakti ministry, in collaboration with the States and Union Territories.

 

3. Cabinet approves extension of One-time Special Package on Di-Ammonium Phosphate beyond NBS subsidy: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal of the Department of Fertilizers for the extension of One-time Special Package on Di-Ammonium Phosphate (DAP) beyond the NBS subsidy @ Rs 3,500 per MT for the period from 01.01.2025 till further orders to ensure sustainable availability of DAP at affordable prices to the farmers.The tentative budgetary requirement for above would be approximately upto Rs. 3,850 cr. The subsidy on P&K fertilizers is governed by NBS Scheme w.e.f 01.04.2010. Continuing top most priority in keeping farmers’ welfare in firm focus, GoI has extended a massive relief to farmers in keeping the price of Di-Ammonium Phosphate (DAP) fertilizer unchanged.

 

4. ITI Mutual Fund Names Jatinder Pal Singh as CEO: Jatinder Pal Singh has been appointed as Chief Executive Officer of ITI Asset Management (ITI AML).Singh succeeds Hitesh Thakkar, who has served as acting Chief Executive Officer (CEO) of ITI AML.Singh has over 25 years of experience in the mutual funds industry. He was associated with Mahindra Manulife Investment Management as a chief marketing officer from September 2015 to December 2024.

 

 

INTERNATIONAL UPDATES:

 

1. 2 January – World Introvert Day: World Introvert Day is celebrated on 2 January to acknowledge and appreciate the unique qualities of introverts, emphasizing their strengths and contributions to society.The day raises awareness about the misconceptions surrounding introversion and promotes acceptance of different personality types.Theme 2025 – Some peace and calm in a noisy world.World Introvert Day was initially acknowledged in 2011, gaining momentum as a chance to showcase the strengths and contributions of the wallflowers. In contrast to extroverts, they regain energy by spending time alone and typically favour deep one-on-one conversations instead of large social events.

 

2. 3 January – International Mind-Body Wellness Day: International Mind-Body Wellness Day is celebrated every year on 3 January.This day emphasizes the importance of achieving harmony between mental, emotional, and physical well-being.This global initiative encourages individuals to focus on their mental and physical well-being by adopting strategies that promote development and wellness.

 

OTHER UPDATES:

DEFENCE

 

1. India declares 2025 as year of defence reforms, vows ‘unprecedented’: India has declared 2025 as the ‘year of reforms’ in the defence sector and vowed “unprecedented” progress in bolstering India’s security and sovereignty in the face of 21st-century challenges.‘Year of reforms’ will be a momentous step in modernisation journey of the armed forces.The reforms aim to implement integrated theatre commands, enhancing synergy among the three services and transforming the military into a technologically advanced, combat-ready force.

 

BANKING AND FINANCE

 

1. VFS Capital seeks small finance bank licence from RBI under ‘on-tap’ scheme: Microfinance company VFS Capital has applied for a small finance bank (SFB) licence under the guidelines for ‘on tap’ licensing of SFBs in the private sector.During the quarter ended December 31, 2024, the Reserve Bank of India has received one application under the guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector dated December 5, 2019 from VFS Capital Limited.VFS Capital, previously known as Village Financial Services Private and headquartered in West Bengal, was incorporated in 1994 as a non-deposit taking non-banking financial company-microfinance institution (NBFC-MFI). It started microfinance activity in 2006 and got registered with RBI as NBFC-MFI in September 2013. VFS provides loans to individual female members mainly from rural areas in a joint liability group (JLG) with each group consisting of five members. VFS Capital makes its entire disbursements through digital mode.

 

2. GST collection jumps 7.3% YoY to Rs 1.77 lakh crore in December: India’s Goods and Services Tax (GST) collection grew 7.3% year-on-year (YoY) to Rs 1.77 lakh crore in December 2024. However, the figure marked a 3% decline compared to the Rs 1.82 lakh crore collected in November. The latest numbers indicate a steady growth in GST revenues but reflect a slowdown in consumption and a rise in refunds issued during the month.

 

3. Interest rates remain unchanged on National Small Saving Schemes: The Centre decided to maintain a status quo on the returns payable on small savings schemes for the January to March 2025 quarter, making it the fourth successive quarter that these rates have remained unchanged.

The interest rates on small savings schemes such as the Public Provident Fund (PPF) and National Savings Certificate (NSC) are reset each quarter as per a formula linked to the yields on government securities of similar maturities. The Union Ministry of Finance has reviewed the interest rates on the small saving schemes every quarter since 2016.

 

4. CBIC clarifies rules, says no GST to apply on pre-paid gift vouchers, cards : The Central Board of Indirect Taxes and Customs (CBIC) provided insights into the goods and services tax (GST) treatment of transactions involving vouchers. According to the CBIC, vouchers can be categorised into two types.The first category includes prepaid instruments, such as gift cards and digital wallets, which are recognised by the Reserve Bank of India (RBI). These vouchers are treated as ‘money’ under the GST framework, meaning transactions involving them will not be classified as either the supply of goods or services.The second category comprises non-prepaid vouchers, which do not qualify as prepaid instruments. These vouchers serve as claims to receive specific goods or services and fall under the definition of ‘actionable claims’. Similar to their prepaid counterparts, these transactions also do not count as the supply of goods or services for GST purposes.

 

AWARDS AND HONOURS

 

1. Ministry of Youth Affairs & Sports Announces National Sports Awards 2024: The Union Ministry of Youth Affairs and Sports has announced the names of the winners of the 2024 National Sports Award winner.The award winners will be felicitated by the President Droupadi Murmu in a function at the Rashtrapati Bhavan in New Delhi on 17th January 2025.The National Sports award consists of Major Dhyan Chand Khel Ratna Award, Arjuna Award, Dronacharya Award, Major Dhyan Chand Award, Maulana Abul Kalam Azad Trophy and the Rashtriya Khel Protsahan Puruskar. Major Dhyan Chand Khel Ratna is the highest sports award in the country. It was earlier known as Rajiv Gandhi Khel Ratna Award and was renamed in 2021 as Major Dhyan Chand Khel Ratna Award.