Daily GK Update- 11th Jan, 2025

 NATIONAL UPDATES:

 

1. Swiggy launches new app ‘Snacc’ for 15-minute food delivery: Swiggy has launched a new standalone food delivery app ‘Snacc by Swiggy’. Snacc is a 15-minute food delivery app offering quick snacks and meals, similar to Zepto’s Zepto Cafe.Snacc is currently being piloted in very select pin codes of Bengaluru.The offerings include items like tea, coffee, breakfast items, quick meals and dessert options.Most recently, Zomato launched a 15-minute food delivery option on its main app, where it is delivering quick-to-prepare and ready to eat options form restaurants within a 2-kilometre radius.This is similar to Swiggy’s Bolt that it launched in October, and said during its Q2 earnings that 5% of all its food delivery orders were already coming from Bolt.

 

2. Retired Justice B.N. Srikrishna to chair ID verification firm Equal’s advisory board: Retired Supreme Court justice B. N. Srikrishna will chair the ID verification and data sharing platform Equal’s newly formed Advisory Board. Equal provides identity authentication services for large firms, boasting digital integrations with several ID providers.The appointment comes as the government finalises the Digital Personal Data Protection Rules, 2025, to implement the DPDP Act, 2023.Justice Srikrishna was the chair of the first committee formed by the Union Ministry of Electronics and Information Technology to formulate a data protection law. That committee’s report, submitted in 2018, was eventually not taken up.Justice Srikrishna has also served in various finance-focused roles; he has headed the Sixth Pay Commission, chaired the Financial Sector Legislative Reforms Commission, and also led the Expert Committee on Arbitration Law to propose reforms to the Arbitration & Conciliation Act, 1996.

 

3. Piyush Goyal launches 8th edition of National Programme for Organic Production: Union Minister of Commerce & Industry, Piyush Goyal has launched of 8th edition of National Programme for Organic Production (NPOP) at the Bharat Ratna C. Subramaniam Auditorium (NASC Complex), Pusa in New Delhi.They also unveiled TraceNet 2.0 the upgraded online traceability system for seamless operations and enhanced tools for regulatory oversight.The event was organized by the Agricultural & Processed Food Products Export Development Authority (APEDA) in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI).

 

INTERNATIONAL UPDATES:

 

1. Indian HC in Sri Lanka launches first Hindi Certificate Course via open: The Indian High Commission here on the occasion of Hindi Diwas on has launched Sri Lanka’s first Hindi Certificate Course through open and distance learning.The certificate course was launched at the Bharat-Sri Lanka Hindi Sammelan held in Colombo on 10th January 2025 on the occasion of the World Hindi Day.The launch of the Hindi course in Sri Lanka was a part of the effort of the Ministry of External Affairs to promote Hindi language around the world.The certificate course in Hindi is being launched by the Open University of Sri Lanka in collaboration with the Swami Vivekananda Cultural Centre (SVCC), the cultural arm of the High Commission of India in Colombo, Sri Lanka.

 

2. Lebanon’s parliament elects army commander Joseph Aoun as president: Lebanon’s parliament voted to elect the country’s army commander, Joseph Aoun, as head of state, filling a more than two-year-long presidential vacuum.The session was the legislature’s 13th attempt to elect a successor to former President Michel Aoun whose term ended in October 2022.The president’s role in Lebanon is limited under the power-sharing system in which the president is always a Maronite Christian, the prime minister a Sunni Muslim and the speaker of parliament Shiite.

OTHER UPDATES:

 

SPORTS 

 

1. Olympic gold medalist Mo Farah announced as international event ambassador for Mumbai Marathon: Multiple Olympic and world champion Mo Farah has been announced as the international event ambassador for the Tata Mumbai Marathon, which will see a record-breaking 60,000 runners participating on January 19.The start line for the World Athletics Gold Label race will be the Chhatrapati Shivaji Maharaj Terminus and the presence of Mo, the greatest male track distance runner, will add to the event.Somalian-born British runner Mo won four Olympic and six World Championship gold medals and is the first man to retain both the 5,000m and 10,000m titles at both the Olympics (2012 & 2016) and World Championships (2013 & 2015) — a feat described as the ‘quadruple-double.’

 

SCIENCE AND TECHNOLOGY

 

1. UP govt. partnered with Google Cloud launch AI-powered agri network: The UP government has signed an MoU with Google Cloud (India) to launch the Gemini-powered and Beacon-enabled Uttar Pradesh Open Network for Agriculture.The initiative seeks to empower millions of farmers with one-stop access to advisory services, credit, mechanization, and market connectivity for selling their produce.Farmers will also gain real-time, accurate information on microclimates and market prices, a significant step towards achieving the state government’s vision of doubling farmers’ income. The open and decentralised network allows participation from various service providers, including input suppliers, financial institutions, and government agencies, while enabling entrepreneurs to curate and deliver tailored solutions for farmers.

 

 

 

 

 

BANKING AND FINANCE

 

1. India’s economy projected to grow 6.6% in 2025: UN: The Indian economy is projected to expand by 6.6% in 2025, primarily supported by robust private consumption and investment, according to a United Nations report.The UN World Economic Situation and Prospects 2025, released by the United Nations, said that the near-term outlook for South Asia is expected to remain robust, with growth projected at 5.7% in 2025 and 6.0 per cent in 2026, “driven by strong performance in India as well as economic recovery in a few other economies”, including Bhutan, Nepal and Sri Lanka.The Indian economy grew by 6.8% in 2024 and is forecast to expand by 6.6% in 2025. The Indian economy is projected to return to the 6.8% growth in 2026.

 

2. RenewBuy launches Smart Term Plan for working professionals and small business owners: RenewBuy, an online insurance platform, has introduced the RenewBuy Smart Term Plan under its RB Proprietary line.The plan aims to simplify term insurance for Indian consumers by addressing common concerns like complexity, affordability, and coverage duration.The Smart Term Plan is tailored for working professionals and small business owners. It addresses pain points such as understanding ideal coverage and managing long-term premiums.In its first phase, RenewBuy has partnered with LIC, ICICI Prudential, and Digit Life to reach a broad consumer base, especially in underserved Tier 2-3 cities.The plan offers options like “10 Years Pay,” enabling policyholders to pay premiums over 10 years for coverage up to ₹1 crore until age 80 or above.

 

3. Indian Overseas Bank to sell ₹11,500-cr NPAs to ARCs: Indian Overseas Bank has decided to put non-performing assets to the tune of Rs 11500 crore on sale in a bid to improve asset quality further before the end of the fiscal.The state-owned lender has identified 46 NPA accounts for the exercise and has invited expressions of interest from asset reconstruction companies.The portfolio comprises accounts financed under a consortium arrangement, with some of these are already submitted to the National Company Law Tribunal (NCLT) under the bankruptcy law.The sale of loans will be conducted through an e-auction under the open auction method on a portfolio basis. The e-auction will be conducted on January 30. ARCs will have to submit applications by January 18.

 

4. SECI Secures “Excellent” Rating in MoU Performance for FY 2023-24: Solar Energy Corporation of India Ltd (SECI) has achieved “Excellent” rating for its performance under the MoU with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, earning a score of 96 out of 100.This achievement highlights SECI’s unwavering dedication to operational excellence and upholding the highest standards of corporate governance.SECI plays a pivotal role in the development and expansion of renewable energy (RE) capacity in India, with a cumulative awarded generation capacity exceeding 73 GW as of December 31, 2024. SECI is the premier Renewable Energy Implementing Agency (REIA) in the country, continuously working to meet climate goals and drive sustainable development.Recently on 30th August 2024, SECI was granted Navratna status by the Ministry of Finance.

 

 

Daily GK Update- 10th Jan, 2025

 NATIONAL UPDATES:

 

1. WEP of NITI Aayog Partners with India’s Largest Convenience Retail Chain New Shop to Empower Women Retail Business Owners: The Women Entrepreneurship Platform (WEP) of NITI Aayog, launched EmpowHER Biz – Sapno Ki Udaan in partnership with New Shop, India’s largest 24/7 convenience retail chain under its Award to Reward (ATR) program.This initiative aims to empower women entrepreneurs by equipping them with the skills  and resources needed to succeed in the organized retail sector.EmpowHER Biz will offer mentorship and comprehensive training, covering retail management, digital tools, financial literacy and business development to aspiring women entrepreneurs. Through this collaboration with New Shop, WEP aims to create a robust retail ecosystem that empowers women entrepreneurs and drives sustainable growth in the sector.Under the initiative, fifty participants aged 18–35, will be selected through an online application process based on specific criteria.

 

2. Animal Welfare Board of India (AWBI) and NALSAR University Sign MoU to Train Animal Welfare Representatives: The Animal Welfare Board of India (AWBI), a statutory body of the Department of Animal Husbandry and Dairying, Ministry of Fisheries, Animal Husbandry and Dairying, entered into an MoU with NALSAR University of Law, in Hyderabad.The MoU formalized a strategic partnership aimed at providing high-quality, professional legal training to civil society members who support District Society for Prevention of Cruelty to Animals (SPCAs) and State Animal Welfare Boards in their efforts to assist animals.This collaboration between AWBI and NALSAR University of Law, Hyderabad will help in providing specialized training and education to the applicants of Honorary Animal Welfare Representatives (HAWRs) with AWBI wherein participants will be equipped with essential knowledge in animal welfare laws, procedures, investigative techniques, and related subjects.

 

3. Goa govt launches ‘Bima Sakhi Yojana’: Chief Minister of Goa Pramod Sawant has launched the ‘Bima Sakhi Yojana’ in the state with the aim of providing “insurance for all“.With this, Goa became the second state after Haryana to launch this flagship scheme envisioned by Prime Minister Narendra Modi.As per the central government’s portal, the Bima Sakhi Yojana initiative of Life Insurance Corporation of India (LIC) is designed to empower women aged 18-70 years, who are Class X pass. They will receive specialised training and a stipend for the first three years to promote financial literacy and insurance awareness.After training, they can serve as LIC agents and the graduate Bima Sakhis will have the opportunity to qualify for being considered for development officer roles in LIC.In the beginning, the Bima Sakhis will be trained and get a Stipend of Rs 7,000 per month in the first year, Rs 6,000 per month in the second and Rs 5,000 in the third year.

 

 

INTERNATIONAL UPDATES:

 

1. India, Malaysia agree to explore to enhance cooperation in critical minerals: India and Malaysia agreed to deepen cooperation in counter terrorism and deradicalization; cyber security; defence industry; and maritime security.They also explored ways to enhance cooperation in critical minerals and rare earths. It was agreed to institutionalise the dialogue by holding annual meetings.The first India- Malaysia Security Dialogue was co-chaired by Ajit Doval, National Security Adviser and Raja Dato Nushirwan Bin Zainal Abidin, Director General of the National Security Council of Malaysia in New Delhi.

 

2. Singapore leads in 2025’s most powerful passports; India drops to 85^th: Singapore has reclaimed its place at the top of a quarterly ranking of the world’s most powerful passports. Holders of this passport enjoy visa-free access to 195 out of 227 destinations worldwide, according to the Henley Passport Index.Japan is second in the ranking, with an open door to 193 destinations, having secured the silver medal by regaining visa-free access to neighbouring China for the first time since the Covid-19 lockdowns.The EU member states of France, Germany, Italy and Spain are at No. 3, along with Finland and South Korea, with access to 192 destinations with no prior visa needed.

 

3. 9 January – NRI (Non-Resident Indian) Day or Pravasi Bharatiya Divas: NRI or Pravasi Bharatiya Divas is observed every year on 9 January to mark the contribution of the overseas Indian community towards the development of India.This day also commemorates the return of Mahatma Gandhi from South Africa to Mumbai on 9 January 1915.The Pravasi Bharatiya Divas (PBD) Convention was first established in 2003 under the government of then Prime Minister Late Shri Atal Bihari Vajpayee, as a platform to recognize and engage with the overseas Indian community.The 18th PBD Convention is scheduled for January 8-10, 2025, in Bhubaneswar, Odisha. The theme for this year is the “Diaspora’s contribution to a Viksit Bharat” (Developed India).

 

4. 10 January – World Hindi Day: The World Hindi Day, popularly called the ‘Vishwa Hindi Diwas’, is celebrated on January 10 every year to promote Hindi as one of the most widely spoken languages around the world, along with English and Mandarin.Theme 2025 – A Global Voice of Unity and Cultural PrideOn September 14, 1949, the Constituent Assembly of India adopted Hindi written in the Devanagari script as the official language of the Republic of India.While Hindi became one of India’s official languages, the Indian Constitution does not recognize any language as the national language. Hindi, along with 21 other languages, holds official status. The decision reflected the necessity to respect India’s multilingual heritage.

 

 

 

OTHER UPDATES:

DEFENCE

 

1. India, U.S. to jointly manufacture interoperable sonobuoys for Navy: India and the United States have announced a strategic partnership aimed at co-producing sonobuoys for Undersea Domain Awareness (UDA) within the Indian Navy.This initiative reflects both nations’ concerns regarding the increasing Chinese naval presence in the Indian Ocean Region.Sonobuoys are devices used for detecting submarines in deep waters. They are deployed from aircraft or ships and can monitor underwater sounds. These technologies play a critical role in naval operations, particularly in anti-submarine warfare.Ultra Maritime, a leader in undersea warfare technology, is collaborating with Bharat Dynamics Limited (BDL) for this project. The partnership will focus on developing sonobuoys tailored for the unique conditions of the Indian Ocean. This collaboration aligns with the U.S.-India Initiative on Critical and Emerging Technologies launched in May 2022.

 

SPORTS 

 

1. Anahat Singh clinches U-17 Girl’s Singles title at British Junior Open: In Squash, India’s Anahat Singh has clinched the Under 17 Girl’s Singles title at the British Junior Open in Birmingham, England.The 16-year-old top-seed Indian defeated Malika El Karaksy of Egypt, 3-2 in the summit clash.Anahat came from behind twice to secure the win with scores of 4-11, 11-9, 6-11, 11-5, and 11-3. The victory marks Anahat’s third British Junior Open title, following her triumphs in the Under-11 category in 2019 and the Under-15 category in 2023.Earlier in the tournament, Anahat defeated Egypt’s Ruqayya Salem 3-1 in the semi-finals after a dominant 3-NIL win over another Egyptian, Nadia Tamer, in the quarter-finals.Anahat had won nine PSA Challenger titles last year, more than any other woman in the world.

 

2. NZ cricketer Martin Guptill announces retirement from international cricket: New Zealand Cricketer, Martin Guptill announced his retirement from international cricket at the age of 38.Guptill’s career spanned around 14 years during which he scored over 14 thousand runs in 367 matches and smashed 23 international hundreds.Guptill played 198 ODI, 122 T20Is and 47 Tests. He debuted in 2009 against the West Indies.Guptill holds the record for the highest individual score in an ODI World Cup. In the 2015 World Cup, he played an innings of 237 not out from 163 balls.Guptill will continue to play in T20 franchise cricket around the globe in the immediate future.

 

BANKING AND FINANCE

 

1. SBI lowers India’s FY25 GDP growth forecast to 6.3%: The State Bank of India (SBI) has revised its forecast for India’s GDP growth in the financial year 2024-25 (FY25) to 6.3 per cent, down from the National Statistical Office’s (NSO) projection of 6.4 percent.The bank attributed the downgrade to multiple economic challenges, including a slowdown in lending and manufacturing, shortly after the Ministry of Statistics and Programme Implementation released its gross domestic product (GDP) projections.SBI’s revision reflects concerns over a slowdown in lending and manufacturing, coupled with the effects of a large base effect from the previous year.

According to the NSO’s data, agriculture and allied activities are projected to grow by 3.8 per cent in FY25, up from 1.4 per cent in FY24, driven by robust policy measures and public infrastructure development.

 

2. Mirae Asset launches smallcap fund, targets India’s high-growth segment: Mirae Asset Investment Managers (India) Pvt. Ltd. has launched its new Mirae Asset smallcap fund, an open-ended equity scheme focusing predominantly on smallcap stocks.The fund, to be managed by senior Fund Manager Varun Goel, will be benchmarked against the Nifty smallcap 250 Total Return Index (TRI).The New Fund Offer (NFO) opens for subscription on January 10, and closes on January 24, with a minimum initial investment requirement of Rs 5,000. Regular trading will commence on February 3, with subsequent investments accepted in multiples of Re 1.The launch comes at a time when small-cap companies have shown significant compounding trends over the past two decades, according to the Nifty smallcap 100 Index factsheet, highlighting the potential for long-term growth in this segment of the market.

 

3. KredX Receives RBI’s Final Nod to Launch TReDS Platform, DTX: KredX, India’s largest supply chain finance platform, has secured the Reserve Bank of India’s (RBI) final approval to commercially launch its Trade Receivables Discounting System (TReDS) platform under the brand name DTX (Domestic Trade Exchange).This milestone positions KredX as the fifth RBI-regulated TReDS platform in the country, further advancing its mission to transform supply chain financing.

The TReDS platform is a government-mandated initiative designed to address the persistent challenges of delayed payments and working capital gaps in the Micro, Small, and Medium Enterprise (MSME) sector.Founded in 2015, KredX has been a pioneer in supply chain finance, working with over 70,000 MSME suppliers and large corporations.

 

4. PhonePe partners with ICICI Lombard to offer Maha Kumbh Mela insurance: PhonePe has partnered with ICICI Lombard General Insurance to offer insurance cover for people travelling to the Maha Kumbh The insurance plan, available from January 13, 2024, to February 25, 2025, will be offered in two variants.This comprehensive yet affordable insurance plan is available in two variants, catering to the needs of a broad spectrum of travellers: Rs 59 per traveller for individuals travelling by train or bus, and Rs 99 per traveller for individuals travelling by domestic flights.The launch aims to provide devotees with extensive coverage for various risks, including hospitalization, doctor consultation, outpatient treatment, personal accident cover, loss of checked-in baggage, trip cancellation cover, missed connecting flight cover, and repatriation of remains.The North Central Railway has devised a plan to ensure a smooth and safe experience for the pilgrims. The uni-directional movement to prevent chaos and congestion, the movement of people will be kept uni-directional, avoiding criss-cross movements.

 

 

 

Daily GK Update- 9th Jan, 2025

 NATIONAL UPDATES:

 

1. NSDC partners with Axis My India to map skill demand and supply across India: The National Skill Development Corporation (NSDC) has partnered with pollster Axis My India to boost a push bridge the skills gaps across India and meet a projected demand for millions of jobs in developed economies over the next five years.The collaboration seeks to leverage data-driven insights to map skill demand and supply, improve the effectiveness of skill development initiatives, and increase participation rates, particularly in underserved regions.NSDC is a public-private partnership organisation under the Ministry of Skill Development and Entrepreneurship (MSDE). The partnership will identify potential workers for upgrading their skills.

 

2. Prez Subianto to be Republic Day chief guest: Indonesian President Prabowo Subianto has formally accepted New Delhi’s invitation to be the chief guest for the 2025 Republic Day parade.

The choice of Subianto as the first guest of third term of Prime Minister Modi signals the importance India attaches to the bilateral relationship with Indonesia and its Act East policy. The visit is expected to see both sides stepping up their strategic cooperation and defence ties.India’s first Republic Day guest was from Indonesia, President Sukarno, a key ally of country’s Prime Minister Jawaharlal Nehru during the golden years of the non-aligned movement.India and Indonesia have shared over two thousand years of strong cultural and commercial connections, with Hindu, Buddhist, and Muslim traditions spreading from India to Indonesia. Indonesia’s folk art and theater are deeply influenced by stories from the Ramayana and Mahabharata.

 

3. IREDA achieves ‘Excellent’ rating for 4th consecutive year in MoU performance: Indian Renewable Energy Development Agency Limited (IREDA) has achieved ‘Excellent’ rating for the performance MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, with a score of 98.24.This marks the fourth consecutive year that IREDA has received ‘Excellent’ rating, showcasing its unwavering commitment to operational excellence and highest standards of corporate governance.In the previous three years, IREDA consistently delivered exceptional results, achieving an ‘Excellent’ rating with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22 and 96.93 in FY 2020-21.

 

4. Government launches PLI scheme 1.1 for specialty steel: Union Minister of Steel and Heavy Industries, H. D. Kumaraswamy, has launched the second round of the Production Linked Incentive (PLI) scheme for specialty steel, termed PLI Scheme 1.1. The new scheme aims to boost domestic production and reduce dependence on imports.PLI Scheme 1.1 covers five product categories, similar to the original scheme, and has been introduced following requests from industry participants for certain relaxations.The scheme will remain open for applications from January 6 to January 31, 2025. The minister expressed optimism that this revised round would see active participation from industry players, contributing to strengthening India’s position as a global steel powerhouse.

 

5. State Bank of India Names Baldev Prakash as DMD & Group Chief Risk Officer: State Bank of India has appointed Baldev Prakash as the deputy managing director and group chief risk officer.

Earlier, Prakash was on deputation to Jammu and Kashmir Bank as managing director and chief executive officer, whose three-year term ended in December.Shiva Om Dikshit has been entrusted with a new responsibility as deputy managing director, operations-channel management.

 

6. Tuhin Kanta Pandey appointed revenue secretary; Arunish Chawla takes over as DIPAM secretary: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Tuhin Kanta Pandey has been appointed as Secretary, Department of Revenue, Ministry of Finance.He is currently serving as Secretary, Department of Investment and Public Asset Management (DIPAM). Meanwhile, Pandey will continue to hold the designation of Finance Secretary.In a corresponding move, Arunish Chawla, presently the Secretary, Department of Revenue, Ministry of Finance, has been appointed as Secretary, Department of Investment and Public Asset Management (DIPAM), succeeding Tuhin Kanta Pandey.Additionally, Chawla has been given the additional charge of Secretary, Department of Public Enterprises, Ministry of Finance, and Secretary, Ministry of Culture.

 

INTERNATIONAL UPDATES:

 

1. EXIM Bank Raises $1 Billion Through Overseas Bond Issuance: EXIM Bank has successfully raised $1 billion (approximately Rs. 8,570 crore) through overseas bond issuance at highly competitive rates, marking a significant milestone for Indian issuers in global capital markets.The funds will be used to support the bank’s ongoing and new initiatives worldwide. The issuance was priced at US Treasury yields plus 1%, with a negative new issue concession of 0.05%.The bond issue witnessed significant interest globally, with 50% of investors from Asia, 32% from Europe, the Middle East, and Africa, and 18% from the United States.Asset and fund managers dominated the subscription pool, accounting for nearly two-thirds of the investors, followed by banks (18%), insurance and pension funds (16%), and other institutions.

 

2. Mahama sworn in as Ghana’s president: John Mahama has been sworn in for a second term as Ghana’s president at a ceremony in the capital Accra.Mahama won 56 percent of the vote in the nation’s presidential election on December 9, defeating ruling party candidate and Vice President Mahamudu Bawumia, who secured 41 percent. Mahama takes over from outgoing President Nana Akufo-Addo, who served two terms in power.

 

 

 

 

 

OTHER UPDATES:

DEFENCE

 

1. US, India to Co-Produce Sonobuoys: In recent developments, India and the United States have announced a strategic partnership aimed at co-producing sonobuoys for Undersea Domain Awareness (UDA) within the Indian Navy. This initiative reflects both nations’ concerns regarding the increasing Chinese naval presence in the Indian Ocean Region. The cooperation was brought into light during U.S. National Security Advisor Jake Sullivan’s visit to India, which focused on enhancing defence innovation and industrial collaboration. UDA encompasses the ability to monitor and understand activities in the underwater environment. It is vital for national security, especially in regions threatened by hostile naval forces. The partnership aims to boost India’s capabilities in this domain, ensuring maritime safety and security.

 

SCIENCE AND TECHNOLOGY

 

1. V Narayanan appointed as next ISRO chief: V Narayanan, a distinguished scientist at the Indian Space Research Organisation (ISRO), is set to become the next chairman, succeeding S. Somanath on January 14, 2025.Currently, he serves as the Director of the Liquid Propulsion Systems Centre (LPSC), where he has made substantial contributions to India’s space endeavours over nearly four decades.Narayanan joined ISRO in 1984 and has held various pivotal roles throughout his career. His expertise in rocket and spacecraft propulsion has been instrumental in several key projects.

Somanath assumed charge as the Secretary of the Department of Space on January 14, 2022, for a three-year term.

 

BANKING AND FINANCE

 

1. RBI lifts curbs on Ashirvad Micro Finance, DMI Finance: The Reserve Bank of India (RBI) lifted the supervisory restrictions imposed on two non-banking financial companies (NBFCs) – Asirvad Micro Finance Limited and DMI Finance Private Limited.On October 17, 2024, the RBI directed the two entities to cease and desist from sanction and disbursal of loans, effective from close of business as of October 21, 2024.Asirvad Micro Finance Limited, a microfinance institution (MFI) registered in Chennai, and DMI Finance Private Limited, an investment and credit company (ICC) based in New Delhi, faced the restrictions due to non-compliance with regulatory guidelines.

 

2. Bajaj Broking partners with Tamilnad Mercantile Bank to launch 3-in-1 account solution: Bajaj Broking, the broking arm of Bajaj Finance Ltd., has partnered with Tamilnad Mercantile Bank (TMB) to introduce a comprehensive 3-in-1 account solution, integrating banking, broking, and investment services on a single platform.The collaboration aims to offer Tamilnad Mercantile Bank customers a seamless online trading experience through Bajaj Broking’s platform. The 3-in-1 account will simplify fund transfers, reduce paperwork, and provide a tech-driven interface for investments across a wide range of financial products.With this partnership, Bajaj Broking seeks to expand its digital services while TMB aims to strengthen its offerings in the investment space. The companies aim to leverage their respective strengths to deliver client-centric solutions and unlock new business opportunities.

 

3. Govt sees India’s GDP growth hitting a 4-year low of 6.4% in FY25: India’s Gross Domestic Product (GDP) is projected to grow at 6.4% in the fiscal year 2024-25, marking a four-year low and a sharp decline from the 2% growth recorded in FY24, according to first advance estimates released by the government.The projection is lower than the recent Reserve Bank estimate of 6.6 percent for the current fiscal year ending March 2025.Releasing the first advance estimates of national income for 2024-25, the NSO said, “real GDP has been estimated to grow by 6.4 percent in FY2024-25 as compared to the growth rate of 8.2 percent in Provisional Estimate (PE) of GDP for FY2023-24”.The data also revealed that real Gross Value Added (GVA) is expected to expand by 6.4% in FY25, down from 7.2% in FY24. In contrast, nominal GVA is projected to grow at 9.3% in FY25, slightly higher than the 8.5% growth in the previous fiscal year.

 

 

Daily GK Update- 8th Jan, 2025

 NATIONAL UPDATES:

 

1. Amit Shah launched BHARATPOL to streamline Red Corner Notices through INTERPOL: Union Home Minister Amit Shah has launched the BHARATPOL portal developed by the Central Bureau of Investigation in New Delhi.The BHARATPOL portal will streamline the processing of all requests for international assistance through INTERPOL, including the issuance of Red Notices and other colour-coded INTERPOL notices.The BHARATPOL portal has been developed by the CBI It would give a new edge to Indian investigation agencies by enhancing their global reach to fulfil the Modi government’s vision to build a secure Bharat for all.BHARATPOL portal will significantly facilitate Indian law enforcement agencies enabling real-time information sharing for faster access to international police assistance.

 

2. Loksabha Speaker Om Birla inaugurates Gandhi Darshan Art Gallery at Rajghat: Loksabha Speaker Om Birla has inaugurated the Gandhi Darshan Art Gallery at Rajghat in New Delhi.In the gallery, more than 80 Artists have showcased their art to portray the Father of the nation, Mahatma Gandhi in a unique and modern way.Darshan Art Gallery will enhance knowledge of today’s youth about Gandhian Principles.This event was organised by the Ministry of Culture, Lalit Kala Academy and Gandhi Smriti and Darshan Samiti.

 

3. Nadi Tarangini, first ayurvedic diagnostic device, gets CDSCO nod: ‘Nadi Tarangini’, an indigenously developed pulse diagnostic tool has become India’s first Ayurvedic medical device to get approval for use from the Central Drugs Standard Control Organization CDSCO, a national regulator for the cosmetics, pharmaceutical, and medical devices sector in India.Brainchild of Padma Bhushan Prof J. B. Joshi, Chancellor of the prestigious Institute of Chemical Technology (Formerly UDCT) and the President of Marathi Vidnyan Parishad the device has been developed by Dr. Aniruddha Joshi, with intense research work of over 6 years at IIT Bombay.“Nadi Tarangini is an advanced AI-powered pulse diagnostic device designed to speed up traditional Ayurvedic practices. It combines ultra-sensitive sensors with cutting-edge algorithms. It delivers precise pulse readings to provide detailed health insights.

 

4. Suzuki to acquire 26% stake in NDDB’s bio-gas venture: Suzuki Motor Corporation has decided to acquire 26 per cent stake in NDDB Mirda Ltd, a bio-gas venture of National Dairy Development Board (NDDB), as part of its plans to use Compressed Bio-Gas (CBG) for longevity and performance of vehicles.There is also a provision in the deal whereby Suzuki can gradually increase their equity in the company to 49 per cent.Suzuki R&D Center India Pvt Ltd (SRDI), a wholly-owned subsidiary of Suzuki Motor Corporation.As of now, Suzuki will invest to acquire 26 per cent equity in NDDB Mirda Ltd and the remaining 74 per cent will remain with NDDB.

 

5. CSIR develops Paracetamol drugs indigenously: Council of Scientific and Industrial Research (CSIR) has developed the technology to produce Paracetamol indigenously.This was announced by Dr Jitendra Singh at the 40th Foundation Day of the Department of Scientific and Industrial Research (DSIR) in New Delhi on 5 January 2025.The Department of Scientific and Industrial Research is a part of the Union Ministry of Science and Technology.The Director General of the CSIR is the Secretary of the DSIR. The current Secretary of DSIR Dr. N. Kalaiselvi, and Professor A.K. Sood, Principal Scientific Advisor to the government of India were also present on the occasion.The development of Indigenous technology for manufacturing paracetamol by the CSIR will make India self-sufficient in the drugs that are used in case of fever and pain.

 

6. Centre approves site for Pranab Mukherjee’s memorial at Raj Ghat: The Central Government has approved the establishment of a memorial dedicated to former President Pranab Mukherjee in the Rashtriya Smriti complex, situated in the Rajghat area of New Delhi.Pranab Mukherjee, who served as the 13th President of India from 2012 to 2017, had a political career spanning five decades. A senior leader of the Indian National Congress, he held key ministerial portfolios, including Finance Minister from 2009 to 2012, before his election as President.Mukherjee was conferred with India’s highest civilian honour, the Bharat Ratna, in 2019 by his successor, President Ram Nath Kovind.Former President Pranab Mukherjee, who passed away in August 2020.

 

7. Nitin Gadkari announces cashless treatment scheme for road accident victims: Union Road Transport and Highways Minister Nitin Gadkari has launched a new scheme to provide cashless treatment to road accident victims.Once the police are informed within 24 hours of the accident, the scheme will immediately provide for the victim’s cost of treatment for 7 days or a maximum of Rs 1.5 lakh.In case of death in a hit-and-run case, the immediate family of the deceased person will receive Rs 2 lakh.Gadkari also highlighted road safety as a top priority. In 2024, 1.8 lakh people lost their lives in road accidents across India. Among these, around 30,000 deaths were due to the non-use of helmets.

 

8. e-Shram portal now available in 22 languages: The e-Shram portal has been upgraded and it will now be available in all 22 scheduled languages so that unorganised workers from different regions of the country can access it and avail of government benefits.The previous version was available only in English, Hindi, Kannada and Marathi.Union Minister of Labour and Employment Dr. Mansukh Mandaviya has launched the multilingual e-Shram portal which is in line with the vision of making it a ‘One-Stop-Solution’ website for all unorganised registered workers to avail benefits of various government schemes designed to support their welfare, livelihood and wellbeing.MEITY’s Bhashini project has been leveraged to upgrade the e-Shram portal with 22 languages. Registration of building and other construction workers (BoCW) and gig and platform workers on the portal is ongoing.

 

INTERNATIONAL UPDATES:

 

1. India ranked second in attacks by threat actors in 2024: CloudSEK: India ranked as the second most targeted nation globally for cyberattacks in 2024, with 95 entities falling victim to data theft, according to CloudSEK’s Threat Landscape Report 2024.The report highlighted critical vulnerabilities across sectors, exposing the risks accompanying rapid digitisation.The United States led the list of most targeted countries, with 140 cyberattacks attributed to its economic and digital prominence, followed by India with 95 attacks and Israel with 57. CloudSEK’s report pointed out that India’s rapid digital adoption has made it increasingly susceptible to cyber threats.The financial and banking sectors in India were the most affected, with 20 breaches reported, followed by the government (13), telecommunications (12), healthcare and pharma (10) and education (9).

 

2. 8 January – Earth’s Rotation Day: Earth’s Rotation Day is observed every year on January 8.The day encourages awareness about the Earth’s 24-hour rotational period, which forms the basis for the concept of time and the division of hours, minutes, and seconds.The Earth’s Rotation Day celebrates the anniversary of French physicist Leon Foucault’s 1851 proof that the Earth rotates on its axis. The day also honours Foucault’s first public demonstration in Paris.The Earth’s diameter is 12,714 kilometres (7,900 miles) from the North toward the South Poles and 12,756 kilometres (12,756 miles) via the equator (7,926 miles).70 per cent of Earth’s surface is covered by water. Just 3 per cent of that is freshwater, with 97 per cent being saltwater.

 

OTHER UPDATES:

DEFENCE

 

1. Anji Khad Rail Bridge: India’s First Cable-Stayed Bridge: The Anji Khad Rail Bridge, located in Reasi district, Jammu and Kashmir, is India’s first cable-stayed rail bridge. It is part of the ambitious Udampur-Srinagar-Baramulla Rail Link (USBRL) Project. This project aims to enhance connectivity in the region, which is crucial for both economic development and tourism. Constructing the bridge posed numerous challenges due to the region’s complex geological features. The site is characterised by faults, folds, and seismic activity. To address these issues, detailed investigations were conducted by the Indian Institutes of Technology (IIT) at Roorkee and Delhi. A hybrid foundation was employed at the Katra end to stabilise the slopes, ensuring the bridge’s structural integrity.

 

2. Inaugural India-Malaysia Security Dialogue: India and Malaysia have recently taken steps to enhance their bilateral relationship through the inaugural India-Malaysia Security Dialogue held in New Delhi. This meeting was co-chaired by India’s National Security Adviser, Ajit Doval, and Malaysia’s National Security Council Director General, Raja Dato Nushirwan Bin Zainal Abidin. The dialogue marks a very important moment in the two nations’ efforts to collaborate on various security issues, reflecting their commitment to a comprehensive strategic partnership.

 

 

 

 

SPORTS 

 

1. Bahadur Singh Sagoo elected as President of Athletics Federation of India: Asian Games gold medallist Bahadur Singh Sagoo elected as the new President of Athletics Federation of India (AFI).

The Asian Games shot put medallist succeeded Adille Sumariwalla, the outgoing president, during the Annual General Assembly Meeting of the federation in Chandigarh.With Sagoo’s arrival, Sumariwalla’s tenure as AFI president, which lasted more than a decade, comes to an end. The 67-year-old had been serving as the AFI president since 2012.Sagoo, a one-time Asian medallist and two-time national champion, won a gold medal in the shot put at the 2002 Busan Asian Games. He also competed in the 2000 and 2004 Olympics. His best attempt of 20.40m came in 2004 in Koncha-Zaspa, Kyiv.

 

2. Rishi Dhawan announces retirement from Indian limited-overs cricket: Allrounder Rishi Dhawan has announced his retirement from Indian limited-overs cricket. Dhawan’s announcement comes after the final day of the Vijay Hazare Trophy’s group stage phase with Himachal Pradesh not making it to the next stage.However, Dhawan’s retirement announcement on his social media handle has specifically mentioned limited overs cricket, which suggests he will be available to play for Himachal in the remainder of the Ranji season.The 34-year-old has represented India four times at the international level, with all four outings coming in the year 2016. He has also been a part of Mumbai Indians, Punjab Kings and Kolkata Knight Riders in the IPL previously but went unsold in the recent auctions.

 

BANKING AND FINANCE

 

1. RBI Mandates 15-Day Credit Score Updates: As of January 1, 2025, the Reserve Bank of India (RBI) has implemented regulation requiring lenders to update credit bureau records every 15 days. This change aims to enhance the accuracy and timeliness of credit score calculations, reflecting borrowers’ financial activities more promptly. Previously, updates occurred monthly, which often delayed the representation of loan repayments and defaults. The RBI issued this mandate in August 2024, allowing lenders and credit bureaus time to adjust their systems accordingly.

 

AWARDS AND HONOURS

 

1. Lionel Messi Honoured with the US Presidential Medal of Freedom: Lionel Messi, captain of the Argentina men’s football team and one of the greatest footballers of all time, was honoured with the United States Presidential Medal of Freedom, the country’s highest civilian award.This recognition marks a significant milestone in his illustrious career, making him the first male footballer to receive this prestigious honour.The award ceremony celebrated a total of 19 distinguished individuals for their contributions to various fields. Among the recipients were prominent personalities such as:

 

2. About US Presidential Medal of Freedom –: The US Presidential Medal of Freedom is the highest civilian award of the United States of America. It is similar to the Bharat Ratna in India.In 1945 the then United States President Harry Truman established the Medal of Freedom to honour civilians for their notable service during the Second World War.

 

 

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.