Daily GK Update- 13th Jan, 2025

 NATIONAL UPDATES:

 

1. Centre releases tax devolution of Rs 1.73 lakh crore to states: The Centre has released tax devolution of Rs 1.73 lakh crore to the state governments to accelerate capital expenditure and finance welfare activities.The Union government has released tax devolution of Rs 1,73,030 crore to state governments, as against the devolution of Rs 89,086 crore in December 2024.Currently, 41 per cent of taxes collected by the Centre is devolved in instalments among states during a fiscal year.Uttar Pradesh, Uttarakhand and Bihar have received the largest shares of funds, with allocations of ₹31,039.84 crore, ₹17,403.36 crore and ₹13,017.06 crore, respectively.

 

2. National Waterways will get Rs 50,000 crore in investment over the next 5 year: An investment of Rs 50,000 crore will be made to boost infrastructure along national waterways in the next five years. According to the statement, the investment proposals were announced in Inland Waterways Development Council (IWDC) meeting at Kohora in Kaziranga.IWDC was organised by the Inland Waterways Authority of India (IWAI), the nodal agency for development of waterways under the Ministry of Ports, Shipping & Waterways (MoPSW).A major policy initiative in the form of Riverine Community Development Scheme was mooted at the IWDC meet to improve the socio-economic well-being of coastal communities by developing infrastructure.IWDC, which was set up in 2023, is an exercise to derive the maximum economic potential out of the inland water bodies. It requires exceptionally coordinated centre-state relationship, collaborations and cooperation in the spirit of cooperative federalism.

 

3. Piyush Goyal launches Bharat Cleantech Manufacturing Platform: Union Minister of Commerce & Industry Piyush Goyal has unveiled the ‘Bharat Cleantech Manufacturing Platform’, which the Centre described as an “initiative designed to enhance India’s cleantech value chains in the solar, wind, hydrogen, and battery storage sectors”.The unveiling came as part of the Bharat Climate Forum 2025 organised in New Delhi.The launch of the Bharat Cleantech Manufacturing Platform will provide an opportunity for the Indian firms to collaborate, to co-innovate and will help provide a platform for financing, to share ideas, technologies and resources. This will help India become an attractive business case and a global leader in the sustainability and cleantech sector.

 

4. ICMR’s first infectious disease research, diagnostic lab to come up in Bengaluru: Bangalore Medical College and Research Institute (BMCRI) has been chosen by the Indian Council of Medical Research (ICMR) to establish South India’s first Infectious Disease Research and Diagnostic Laboratory (IRDL).This initiative aims to enhance the diagnostic and research capabilities for infectious diseases in the region. The laboratory will focus on diseases caused by bacteria, fungi, and parasites, facilitating faster diagnosis and improving healthcare outcomes. This project is part of a larger national effort to build specialized labs in medical colleges across India.

 

5. Andhra Pradesh signs MoU with Infosys for skill census pre-validation: To improve employment opportunities for the youth, the Andhra Pradesh government has signed an MoU with software major Infosys to provide technical support for the state’s touted to be the first-ever skill census programme in the country.Infosys will provide a digital platform powered by generative AI for the pre-validation of candidate’s skills as part of the skill census initiative, without any financial involvement.As part of the collaboration, Infosys will develop a digital platform for skill pre-validation of the 15-59 age group of 3.59 crore individuals in Andhra Pradesh.Under this, a comprehensive evaluation of the required skills across various industries would be carried out and current skill levels of the candidates would be assessed and recommendations for further development would be provided.

 

6. 12 January – National Youth Day: National Youth Day is celebrated annually on 12th January in India to commemorates the birth anniversary of Swami Vivekananda, a spiritual leader and philosopher.The main objective of the celebration of this day is to inspire the youth and make them aware about their responsibilities.Theme 2025 – Youth for a Sustainable Future: Shaping the Nation with Resilience and Responsibility The celebration was started by the Indian government on 1984.

 

INTERNATIONAL UPDATES:

 

1. Neeraj Chopra named best Javelin Thrower of the year by US Magazine: Tokyo Olympics gold medalist Neeraj Chopra of India has been named the best javelin thrower of the 2024 by the respected American magazine Track and Fields News. Anderson Peters of Grenada was ranked second by the magazine.27-year- old Neeraj Chopra competed in six international events in 2024, won two and finished runners up in four events.Neeraj Chopra won a silver medal in the 2024 Paris Summer Olympics behind Arshad Nadeem of Pakistan who won the gold medal.Arshad Nadeem was ranked 6th by the Magazine as he competed in only two international events in 2024.

 

2. PM Modi to attend AI Summit in France: Prime Minister Narendra Modi will participate in the Artificial Intelligence (AI) Action Summit in France from February 10 to 11.This summit will allow for an international conversation on AI.The summit, to be hosted by France at the Grand Palais in Paris, will convene Heads of State and government, leaders of international organisations, CEOs from large and small companies, representatives from academia, NGOs, artists, and members of civil society.The event will focus on five key themes: public interest in AI, the future of work, innovation and culture, trust in AI, and global AI governance.

 

3. Nicols Maduro takes oath as Venezuela’s President: Venezuelan President Nicolás Maduro was sworn in for a new term, amid renewed protests and rebukes from the United States and others who believe he stole last year’s vote.Maduro’s 2018 reelection was widely rejected as a sham after authorities banned key opponents from running. And Venezuela’s Opposition faction accuse him of outright ballot fraud last year.

 

OTHER UPDATES:

 

SPORTS 

 

1. Bangladesh cricketer Tamim Iqbal announces retirement from International Cricket: Bangladesh Cricketer Tamim Iqbal has announced his retirement from international cricket.This is the second time he has called time on his career, having previously retired in July 2023 in an emotionally charged press conference, only to reverse the decision within 24 hours after intervention from Bangladesh’s then-prime minister Sheikh Hasina.Tamim concluded his career with 15,192 runs for Bangladesh, the second-highest in the country’s history after Mushfiqur Rahim. The 35-year-old scored 5134 runs in 70 Tests, 8357 runs in 243 ODIs, and 1758 runs in 78 T20Is.

 

2. India pacer Varun Aaron retires from all forms of cricket: Varun Aaron has announced his retirement from all forms of cricket at the age of 35.Having retired from red-ball cricket at the end of the 2023-24 Indian domestic season, Aaron officially stepped away from representative cricket after Jharkhand’s exit from the Vijay Hazare Trophy, where he featured in four matches, picking up three wickets at an average of 53.3.Aaron’s journey into the limelight began at just 21 during the 2010-11 Vijay Hazare Trophy, where his raw pace turned heads, most notably with a fiery 153kph delivery against Gujarat in the final.

 

SCIENCE AND TECHNOLOGY

 

1. India to host 28th CSPOC with focus on AI and social media: India will host the 28th Conference of Speakers and Presiding Officers of Parliaments of Commonwealth Countries (CSPOC) in 2026. The event will focus on the use of artificial intelligence and social media in parliamentary processes.The CSPOC platform was described as a space for enhancing cooperation and exchanging parliamentary practices among member countries.India’s history of hosting the conference in 1970-71, 1986, and 2010, and India invited presiding officers from Commonwealth nations to join the 2026 event in New Delhi.

 

BANKING AND FINANCE

 

1. IBBI mandates eBKray auction platform to sell assets under liquidation: The Insolvency and Bankruptcy Board of India (IBBI) has mandated that all auctions for the sale of assets under the liquidation process must be conducted exclusively on the eBKray auction platform starting April 1, 2025.This directive aims to streamline the auction process, enhance transparency, and improve recovery rates in liquidation cases.Additionally, the insolvency regulator has instructed insolvency professionals (IPs) to list all unsold assets in ongoing liquidation cases on the platform by March 31, 2025.Further, the board emphasised that all auctions for such assets would be conducted exclusively through the platform starting from April 1. The interface is running on a pilot basis.According to the IBBI, 210 assets have already been listed on the platform, with 25 auctions conducted or scheduled.

 

AWARDS AND HONOURS

 

1. President Confers Pravasi Bharatiya Samman Award at 18th PBD 2025: President Droupadi Murmu has conferred the Pravasi Bharatiya Samman Award to the recipient at the 18th edition of the Pravasi Bharatiya Divas (PBD) Convention in Bhubaneshwar, Odisha.Since 2003,9th January has been observed as Pravasi Divas in India to mark the return of Mahatma Gandhi to India on this day in 1915 from South Africa.The Ministry of External Affairs organises the Pravasi Bharatiya Divas Convention and since 2015 it has been organised after every two years.

 

 

Daily GK Update- 12th Jan, 2025

 NATIONAL UPDATES:

 

1. 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.

 

2. 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).

 

3. Indonesian President Prabowo Subianto to Attend Republic Day 2025: Indonesian President Prabowo Subianto will attend India’s Republic Day celebrations as the Chief Guest. This visit marks diplomatic engagement between Indonesia and India. Subianto’s itinerary has changed, as he will now visit Malaysia instead of Pakistan after discussions with Indian officials. This decision reflects India’s concerns regarding the potential implications of including Pakistan in his travel plans. The list of Chief Guests at Republic Day celebrations includes various world leaders. In 2020, Brazilian President Jair Bolsonaro attended. In 2019, South African President Cyril Ramaphosa was the guest. The years 2021 and 2022 saw no Chief Guest due to the COVID-19 pandemic. In 2018, leaders from all ASEAN countries participated, denoting India’s growing ties with Southeast Asia.

 

INTERNATIONAL UPDATES:

 

1. 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.

 

2. World Economic Situation and Prospects Report 2025: The Indian economy is projected to grow by 6.6 per cent in 2025, according to the United Nations’ World Economic Situation and Prospects report. This growth is supported by strong private consumption and investment. The report maintains its previous growth forecast, reflecting confidence in India’s economic resilience. The public sector plays important role in funding infrastructure projects. These projects enhance physical and digital connectivity and improve social infrastructure, including sanitation and water supply.

 

3. India Joins UN Committee of Experts on  Big Data and Data  Science for Official Statistics: India’s membership in the UN Committee of Experts on Big Data and Data Science for Official Statistics (UN-CEBD) marks milestone in the nation’s statistical landscape. This development reflects India’s commitment to utilising data and technology for informed decision-making. The UN-CEBD aims to explore the benefits and challenges associated with Big Data, particularly in monitoring sustainable development goals. As a committee member, India will influence global standards and practices in the realm of official statistics.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO’s New  Cold Weather Clothing System HIMKAVACH: The Defence Research and Development Organisation (DRDO) has made advancements in  military clothing technology. The HIMKAVACH multi-layer clothing system has successfully passed user trials, demonstrating its effectiveness in extreme cold weather conditions. This innovative clothing is specifically designed for operational use in the Himalayan region, where temperatures can drop drastically. The system is engineered to function within a temperature range of +20°C to -60°C. HIMKAVACH is a multi-layer clothing system developed by DRDO. It aims to protect military personnel in harsh cold weather environments. The design focuses on maintaining body heat while allowing for mobility and comfort. This clothing system is crucial for operations in the Himalayan region, where soldiers face extreme weather challenges.

 

2. Russia’s Floating Nuclear Power Plant Initiative: Russia has made advancements in nuclear energy with the introduction of floating nuclear power plants (FNPPs). The Akademik Lomonosov, operational since 2019 in Pevek, represents a shift in energy production. This innovation aims to meet energy demands in remote areas, including potential markets like India. The FNPPs can be relocated, making them versatile for various applications. An FNPP is a nuclear power facility located on a ship. It can connect to coastal power lines and be towed to different locations. The Akademik Lomonosov features two light-water reactors with a combined capacity of 70 MW. This technology allows for efficient energy production without the need for land-based facilities.

 

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.’

 

BANKING AND FINANCE

 

1. 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.Reserve Bank Innovation Hub and IIMA Ventures Launch Swanari TechSprint 3.0 to Empower

 

2. Women-Centric Fintech Startups: The Reserve Bank Innovation Hub and IIMA Ventures have launched Swanari TechSprint 3.0, a programme aimed at fostering women-centric fintech startups in India.The programme provides a platform for fintech innovators to conceptualise, develop, and scale solutions that address the unique financial needs of women.The programme invites applications from startups developing gender-inclusive financial solutions, specifically those with a proven MVP/Product, in the pre-Seed to pre-Series A funding stage, or already generating revenue or traction.

 

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.