Month: February 2024

DAC approves Acquisition Worth Rs 84,560 Cr to Boost the Capabilities of the Armed Forces & ICGThe Defence Acquisition Council (DAC), under the chairmanship of Union Minister Rajnath Singh, Ministry of Defence (MoD) has approved for Acceptance of Necessity (AoNs) for various capital acquisition proposals amounting to Rs 84,560 crore.
Highlights:
i.The DAC has accorded AoN under the Buy (Indian-Indigenously Designed Developed and Manufactured category or Buy (Indian-IDDM) category for procurement of New Generation Anti-Tank Mines with seismic sensors and remote deactivation capabilities, these mines offer additional safety features.
ii.The DAC has also accorded AoN under the Buy (Indian) category for the procurement of

• Active Towed Array Sonar which can operate at low frequencies and various depths for long-range detections of adversary submarines.
• Heavy Weight Torpedoes which has the capacity to attack Kalvari Class submarines.

About Defence Acquisition Council (DAC):
The DAC is the highest decision-making body in the MoD which decides on new policies and capital acquisitions for the Indian Defence services (Army, Navy and Air Force) and the Indian Coast Guard.
Chairman – Union Minister of Defence (Rajnath Singh)
Established in – 2001

Indian Air Force Conducts Exercise Vayu-Shakti 2024 in Pokhran, RajasthanThe Indian Air Force (IAF) demonstration exercise Vayu-Shakti 2024 was held on 17 February 2024 at the Pokhran Air-to-Ground Range near Jaisalmer in Rajasthan. The exercise showcased the offensive and defensive firepower capabilities of IAF across the day and night.

• The 2024 Vayu-Shakti exercise featured joint operations with the Indian Army, highlighting the seamless coordination between the two branches of the armed forces.
• Exercise Vayu-Shakti 2024 was based on the theme, “Lightning Strike from the Sky”.

Key People: Chief of Defence Staff, General Anil Chauhan, graced the event as the Chief Guest.
Participants:
i.A total of 121 aircraft participated in the exercise and showcased the IAF’s offensive capabilities.
ii.Fighter aircraft including the Rafale, Su-30 MKI, MiG-29, Mirage-2000, Tejas, and Hawk attacked simulated enemy targets on the ground and in the air with precision.
iii.Tejas, an indigenously built aircraft, demonstrated swing-role capability and destroyed both aerial and ground targets.
iii.The display also featured a long-range unmanned drone, showcasing advancements in combat technology.
Combat Support Operations:
i.C-17 dropped a Containerised Delivery System, and C-130J executed an assault landing carrying IAF Special Forces, Garuds.
ii.The Apache attack helicopter demonstrated its firepower in this event for the 1st time, engaging targets with air-to-ground guided missiles.

• While Mi-17 helicopters engaged ground targets with rockets.

Joint Operations:
i.The IAF and Indian Army’s weaponised version of the Advanced Light Helicopters Mk-IV devastated simulated enemy targets using their rockets and swivel guns.
ii.IAF Chinook helicopters for the 1st time, demonstrated rapid deployment by airlifting the Indian Army’s M-777 Ultra-Light Howitzers.
Night Events:
i.Night events displayed for the first time, the indigenous Light Combat Helicopter ‘Prachand,’ displayed capabilities by neutralising designated targets with rockets at night.
ii.Jaguar and Su-30 MKI dropped heavy caliber and area weapons, highlighting the IAF’s strategic bombing capability.
iii.Remotely Piloted Aircraft (RPA) conducted live bomb damage assessment, streamed to the operations center and the audience.
Key Points:
i.The display event also included a free fall drop by the Akashganga team and flare dispensing by C-130J at night.
ii.The indigenous Air Defence Systems, Akash, and SAMAR missile systems were also showcased, destroying multiple aerial targets.
iii.Approximately 50 tonnes of ordnance was dropped in 2 hours over a 2-square-kilometer area.
About Exercise Vayu Shakti:
It is a triennial exercise conducted once every 3 years by the IAF to demonstrates its ability to conduct full-spectrum operations, both day and night.
Note: The last edition of exercise Vayu Shakti was held on 16 February 2019.

India & Taiwan signed MoU for the Employment of Indian Workers in Taiwan
The Government of India and the Government of Taiwan signed a Memorandum of Understanding (MoU) on the Facilitation of Employment of Indian Workers in Taiwan. The MoU aims to strengthen the bilateral labour cooperation relations between India and Taiwan.
Signatoties: Manharsinh Laxmanbhai Yadav,  Director General of the India-Taipei Association (ITA) and Baushuan Ger, the head of the Taipei Economic and Cultural Centre in India signed the MoU at a virtual ceremony.
i.The MoU paves the way for skilled Indian workers to find employment opportunities in Taiwan.
ii.India will become a new source country for migrant workers in Taiwan. Taiwan’s current source countries for migrant workers are Vietnam, Indonesia, the Philippines and Thailand.

Overview of PM Modi’s visit to UAE and Qatar – February 2024 Prime Minister (PM) Narendra Modi was on official visit to U.A.E. and Qatar from 13th February to 15th February, 2024.

PM Modi visited Abu Dhabi, United Arab Emirates (U.A.E.) on 13th February, 2024.
PM Modi was welcomed by Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, UAE.This was the 7th visit of PM Modi to the UAE in last 9 years.
Prime Minister Shri Narendra Modi witnessed the exchange of the following:

• Bilateral Investment Treaty.
• Inter-Governmental Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEEC).
• Memorandum of Understanding for cooperation on Digital Infrastructure Projects.
• Memorandum of Understanding in the field of Electricity Interconnection and Trade.
• Memorandum of Understanding for cooperation with the National Maritime Heritage Complex, Lothal at Gujarat.
• Cooperation Protocol between the National Library and Archives of the UAE and the National Archives of India.
• Agreement on interlinking of the instant payment platforms – UPI (India) and AANI (UAE).
• Agreement on inter-linking domestic debit/credit cards – RuPay (India) with JAYWAN (UAE).

On his last leg of foreign tour, PM Modi arrived at Doha, Qatar on 14th February,2024. He was received by Soltan bin Saad Al-Muraikhi, State Minister for Foreign Affairs, Qatar.

• Both leaders held discussions on expanding of bilateral cooperation in various sectors such as: trade, investment, energy, finance and technology.

About United Arab Emirates (UAE):
Capital – Abu Dhabi
President – Sheikh Mohamed bin Zayed Al Nahyan
Currency – United Arab Emirates Dirham
About Qatar:
Capital – Doha
President – Sheikh Tamim bin Al Thani
Currency – Qatari Riyal (QAR)

BoM Celebrated 89th Business Commencement Day: Launched 89 New ProductsOn 8th February 2024, Bank of Maharashtra (BoM) celebrated its 89th Business Commencement Day as “Maha Parivartan Diwas 2.0” in Pune, Maharashtra and launched 89 new digital products and services.
Key People: A S Rajeev, Managing Director (MD) & Chief Executive Officer (CEO) of BoM;  Asheesh Pandey, Executive Director of BoM along with General Managers, customers and staff members of BoM were present during the event.
Launched Products & Services:
i.BoM has launched the Mahabank Equipment Finance Scheme to finance construction equipment purchases for Micro, Small & Medium Enterprises (MSMEs) and Corporates.
ii.The bank also launched a Special cluster scheme to offer concessionary interest rates and service charges to the glass bangle industry in Firozabad (Uttar Pradesh).
iii.The bank also incorporated a Straight-Through Processing (STP) Journey in Mudra Loans of up to Rs 50,000 to fuel the entrepreneurial ecosystem.
iv.Facilities were made to provide instant digital Kisan Credit Card (KCC) loans (of up to Rs 1.60 lakhs) for Karnataka farmers.
v.In order to provide a Line of Credit (LoC) to employees of the Government of Rajasthan, BoM introduced the “Earned Salary Advance Drawals Scheme”
vi.Others:

• BoM has enhanced features on its WhatsApp banking service (+91 – 7066036640)including implementation of the Online Dispute Resolution (ODR).
• BoM granted access to income and expenditure audit information through a Third Party Administrator (TPA) portal.
• It also launched Electronic One-time Settlement (E-OTS) platform was launched to expedite debt resolution in NPA accounts.

About Bank of Maharashtra(BoM):
BoM was formally registered under Indian Companies Act on 16th September 1935 and commenced operations on 8th February 1936.
The bank was nationalised in 1969.
Managing Director (MD) & Chief Executive Officer (CEO) – A S Rajeev
Headquarters – Pune, Maharashtra
Tagline – Ek Parivaar, Ek Bank (One Family One Bank)

IRDAI approved Policybazaar to Upgrade to a Composite Insurance Broker
Insurance Regulatory and Development Authority of India (IRDAI) has granted in-principle approval to Gurugram (Haryana) based Policybazaar Insurance Brokers Private Limited (Policybazaar) to upgrade its license from a direct insurance broker (Life and General) to a composite insurance broker.

• With this approval, Policybazaar is allowed to sell reinsurance products besides being a pure play platform focused on insurance buying.
• The approval also deepens the insurance penetration in the country by bringing more technology, process control and data analytics-based innovation into reinsurance capacity.
• Policybazaar is a wholly-owned subsidiary of Gurugram-based PB Fintech Limited.

PayNearby launched Digital Naari platform for Rural & Semi-Urban Women
Mumbai (Maharashtra) based Nearby Technologies Private Limited (PayNearby) has launched the Digital Naari platform to generate sustainable self-employment for women.

• This is in line with the ‘Lakhpati Didi’ initiative (a skill development programme launched in 2023), the platform seeks to onboard and uplift about 1 lakh women in rural and semi-urban areas by the end of 2025.
• By providing access to a suite of financial and digital services, the platform equips women with the tools and skills needed to become successful entrepreneurs.

38 Young Individuals Featured on Forbes India 30 Under 30 List: Class of 2024Forbes India unveiled the 11th edition of Forbes India 30 Under 30 List: Class of 2024, which recognises professionals and entrepreneurs who have made significant contributions across diverse fields.

• The list features 38 outstanding young individuals under the age of 30 across 19 categories selected by expert juries, spanning co-founders, and repeat victors.

About Forbes India:
Editor– Brian Carvalho
Headquarters– Mumbai, Maharashtra
Launched in– 2009

IRDAI Reconstitutes Expert Committee for Ind AS/IFRS Implementation in Insurance SectorThe Insurance Regulatory and Development Authority of India (IRDAI) has announced the reconstitution of the Expert Committee on implementation of Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFRS) in the insurance sector.

• The reconstituted committee will be chaired by Member (Finance & Investment)(F&I), IRDAI.

Note: Currently, Rajay Kumar Sinha is serving as the Member (F&I) of IRDAI
Members of the Committee:
i.The 13-member committee includes

• Amarjit Chopra, Chairman of the Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI)
• R Arunachalam, President of the Institute of Actuaries of India,
• Shyama Prasad Chakraborty, Chief General Manager (CGM) & Head of Department (HOD), Actuarial Department of IRDAI.

ii.The individual persons on the committee include Ashutosh Pednekar, Murtuza Vajihi, Parminder Kaur, Kunj Maheshwari, Prasun Sarkar, Garth Jones, Sharad Ramnarayanan, Shatmanyu Shrivastava and G. Rambabu (Member Convener).
Working of the committee:
i.The committee will work on steps that may be taken towards the effective implementation of Ind AS/IFRS along with giving phase-wise time-lines.
ii.It will also give recommendations on proforma financial statements which is a set of financial statements that predicts the expected future performance of a company.
iii.It will give recommendations on financial disclosures in compliance with Ind AS/IFRS, along with those that can be mandated with immediate effect.
iv.It will also address key issues and concerns arising from transition activities.
About Ind AS:
Ind AS are standards/rules prescribed under Section 133 of the Companies Act, 2013. It determines how Indian companies prepare and present their financial statements.
About IFRS:
i.IFRS issued by the IFRS Foundation, a not-for-profit and public interest organisation, to develop high-quality, understandable, enforceable, and globally accepted accounting and sustainability disclosure standards.
ii.The foundation has two standard-setting boards, the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) to develop standards.
About Insurance Regulatory and Development Authority of India (IRDAI):
IRDAI is a statutory body that regulates and develops the insurance industry in India.It was constituted in 1999 and incorporated as a statutory body in 2000.
Chairperson– Debasish Panda
Headquarters– Hyderabad, Telangana
Establishment – 1999, Incorporated in 2000

GSLV-F14/INSAT-3DS Mission: ISRO Successfully Launched Meteorological Satellite ‘INSAT-3DS’ into SpaceOn 17th February 2024, the Indian Space Research Organisation (ISRO) successfully launched GSLV-F14/INSAT-3DS mission carrying the meteorological satellite INSAT-3DS from the Second Launch Pad (SLP) Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh (AP).

• GSLV-F14 placed the INSAT-3DS satellite into a geosynchronous transfer orbit(GTO), then to a geosynchronous stationary orbit (GSO) in space.
• This marks’s the 16th flight of Geosynchronous Satellite Launch Vehicle (GSLV). It is also the 10th flight & 7th operational flight of GSLV with Indigenous Cryogenic stage.

Note:

• GSLV-F14/INSAT-3DS mission is fully funded by the Ministry of Earth Sciences (MoES).
• GSLV is a three-stage launch vehicle which is of 51.7 meter long and can liftoff mass of 420 tonnes.

About GSLV-F14/INSAT-3DS mission:
Primary objectives:
i.To monitor Earth’s surface, carryout Oceanic observations and its environment in various spectral channels of meteorological importance.
ii.To provide the vertical profile of various meteorological parameters of the Atmosphere.
iii.To provide the Data Collection and Data Dissemination capabilities from the Data Collection Platforms.
iv.To provide the Satellite Aided Search and Rescue services.
About INSAT-3DS:
i.INSAT 3DS is a follow-on mission of Third Generation Meteorological Satellite from geostationary orbit. This next-generation meteorological satellite has improved capabilities over the present INSAT series – INSAT 3D(2013) and INSAT 3DR(2016).
ii.The satellite will augment the Meteorological services along with INSAT-3D and INSAT-3DR.
iii.It is designed for enhanced meteorological observations, monitoring of land and ocean surfaces for weather forecasting and disaster warning  with state-of-the-art payloads
iv.The satellite is being tracked by the control centres at Brunei and Port Blair (Andaman & Nicobar).
Payload: 6 channel Imager; 19 channel Sounder; Data Relay Transponder (DRT); and Satellite Aided Search & Rescue transponder (SAS&R).
Benefits: Meteorological data from the INSAT-3DS will be used by the institutes of the MoES, such as India Meteorology Department (IMD), National Centre for Medium-Range Weather Forecasting (NCMRWF), Indian Institute of Tropical Meteorology (IITM), National Institute of Ocean Technology (NIOT), and Indian National Centre for Ocean Information Services (INCOIS) and various Indian agencies to enhance meteorological research and services.
About Indian Space Research Organisation (ISRO):
Chairman – Sreedhara Panicker Somanath
Headquarters – Bengaluru, Karnataka
Established in – 1969

SpaceX Launched Odysseus, Intuitive Machines’s Lunar LanderOn 15th February 2024, SpaceX launched the Odysseus(Nova-C), the robotic lunar lander of Houston(Texas)-based Intuitive Machines Inc, onboard the Falcon 9 rocket from Launch Complex 39A (LC-39A) at Kennedy Space Center in Florida, the United States of America(USA).

• SpaceX successfully launched the Intuitive Machines IM-1 mission to lunar transfer orbit.

Points to note: 
i.Odysseus is expected to soft land near moon’s south pole on 22nd February 2024. The lander will land near the lunar feature known as Malapert A
ii.If the mission succeeds, this will become the first-ever private moon lander to achieve lunar soft landing.
iii.This will also become the USA’s first moon landing since National Aeronautics and Space Administration (NASA)’s Apollo 17 moon landing in 1972.
About the mission: 
i.Odysseus is a part of NASA’s Commercial Lunar Payload Services (CLPS) initiative and Artemis campaign.
ii.IM-1 mission carries NASA’s six payloads targeted for the South Polar region. The payloads are,

• LN-1 (Lunar Node 1 Navigation Demonstrator)
• LRA (Laser Retroreflector Array)
• NDL (Navigation Doppler Lidar for Precise Velocity and Range Sensing)
• RFMG (Radio Frequency Mass Gauge)
• ROLSES (Radio-wave Observations at the Lunar Surface of the Photoelectron Sheath)
• SCALPSS (Stereo Cameras for Lunar Plume-Surface Studies)

iii.The instruments onboard will conduct scientific research and demonstrate technologies to better understand the Moon’s environment.
iv.These will also improve the landing precision and safety in the extreme conditions of the lunar south pole region and pay way for Artemis astronaut missions.
Additional info: 
i.Falcon 9’s first stage returned to earth and made a vertical touchdown at Cape Canaveral Space Force Station.
ii.This marks the 18th launch and landing for this booster.

Parhyale Odian: A New Species of Crustacean Identified in Odisha
Researchers from Berhampur University(Odisha) have discovered a new species of crustacean named ‘Parhyale Odian’ from the Chilika Lake, spread over spread over the Puri, Khordha and Ganjam in Odisha.
The new species is named after Odia, the official & native language of Odisha.

• Parhyale Odian is a shrimp-like amphipod belonging to the genus Parhyale.
• The discovery is published in an article titled ‘A new species of amphipod of the genus Parhyale from Chilika lagoon, India’ in the online edition of journal Zootaxa.

i.The specimens have been deposited in the Zoological Survey of India(ZSI)’s Estuarine Biology Regional Centre, Gopalpur-on-Sea, Ganjam, Odisha for further research
ii.Parhyale odian differs from all other 15 species by having a stout robust seta — a spine-like structure on the surface of the propodus of the male gnathopod (first pair of legs)

Badminton Asia Team Championships 2024: Indian Women’s Team Won the Title for 1st Time Indian Women’s Badminton Team led by Pusarla Venkata (PV) Sindhu won the gold at Badminton Asia Team Championships (BATC) 2024 in Womens event by defeating Thailand (3-2) in the finals held at Setia City Convention Centre in Shah Alam, Selangor, Malaysia.

• This marks the first ever podium finish of Indian Women’s team and also the first ever gold for India at the Badminton Asia Team Championships.
•  BATC 2024, the 5th edition of the biennial championship, was held from 13th to 18th February 2024 in Malaysia.

Note: Previously, Indian Men’s team won the bronze medals in the 2016 and 2020 editions of BATC.
Badminton Asia Team Championships 2024 Medalists:

Note:

• Teams that lost in the semifinals were awarded the shared bronze medal.
• Indian Men’s Team led by HS Prannoy lost the quarter finals against Japan.

Highlights of Women’s final:
i.Indian women’s team won 3 out of 5 matches in the finals against Thailand.
ii.PV Sindhu won the first singles against Supanida Katethong and Treesa Jolly-Gayatri Gopichand defeated Jongkolphan Kititharakul-Rawinda Prajongjai in the first doubles.
iii.Ashmita Chaliha and Priya Konjengbam-Shruti Mishra lost the 2nd singles and doubles.
iv.The reigning Indian national champion Anmol Kharb (17-year-old) defeated Pornpicha Choeikeewong (Thailand) to secure the title for India.
Member of Indian Team:
Men: HS Prannoy, Kidambi Srikanth, Satwiksairaj Rankireddy, Chirag Shetty, Lakshya Sen, MR Arjun, Dhruv Kapila, Suraj Goala, Pruthvi Krishnamurthy Roy and Chirag Sen.
Women: PV Sindhu, Ashwini Ponnappa, Ashmita Chaliha, Priya Konjengbam, Shruti Mishra, Treesa Jolly, Gayatri Gopichand, Anmol Kharb, Tanisha Crasto and Tanvi Sharma.
About BATC 2024:
i.BATC 2024 is a biofficially known as the SELANGOR Badminton Asia Team Championships 2024, was organised by the Badminton Asia along with Badminton Association of Malaysia.
ii.It was sanctioned by the Badminton World Federation(BWF).
iii.The top four teams (women and men) of the tournament are qualified by merit for Uber Cup(women) and Thomas Cup (Men) which is scheduled to be held in Chengdu China, in April-May 2024.
Note: The first edition of BATC was held in 2016.

World Pangolin Day 2024- February 17 World Pangolin Day is annually observed across the globe on the 3rd Saturday of February to celebrate and raise awareness about the Pangolin or scaly anteater, one of the most unique mammals on Earth, and their plight.
In 2024, World Pangolin Day falls on 17th February 2024. This marks the observance of the 13th World Pangolin Day.

• The 12th World Pangolin Day was observed on 18th February 2023.
• The 14th World Pangolin Day will be observed on 15th February 2025.

Note: The first World Pangolin Day was observed in February 2012.

Karnataka CM Siddaramaiah Launches Asha Kirana Eye Care SchemeKarnataka Chief Minister (CM) Siddaramaiah launched the ‘Asha Kirana – Eye Care at Your Doorstep‘, a scheme to offer free eye care services to families across Karnataka, during a event held in Haveri, Karnataka.

• The Scheme launched by the Department of Health and Family Welfare, Governemnt of Karnataka, falls under the National Programme for Control of Blindness and Visual Impairment (NPCB&VI).

President Droupadi Murmu Gives Assent to Public Examinations (Prevention of Unfair Means) Bill, 2024President Droupadi Murmu has given her assent to the Public Examinations (Prevention of Unfair Means) Bill, 2024, aimed at preventing malpractices in government recruitment examinations.

• The Bill was passed by the 2 Houses of Parliament in the Budget session is intended to prevent unfair means in the public examinations.

Points to Note:
i.The Bill got the approval from the President and shall come into force on a date decided by the central government by notification in an official Gazette.
ii.The Bill, which has become an Act now with the President’s approval, defines several offences about public examinations.
Public examinations:
Public examinations in the act refer to examinations conducted by the Union Public Service Commission (UPSC), Staff Selection Commission (SSC), Railway Recruitment Board (RRB), National Testing Agency (NTA), Institute of Banking Personnel Selection (IBPS), and Departments of the central government and their attached offices for recruitment.
Objective:
i.The objective of the Bill lies in fostering greater transparency, fairness, and credibility within the public examination systems.
ii.It aims to assure the youth that their sincere efforts will be fairly rewarded, securing their future.
Prohibited Activities:
i.The Bill intended to prohibit collusion or conspiracy to facilitate indulgence in any unfair means including:

• Unauthorised access or leakage of question papers or answer keys.
• Assisting a candidate during a public examination.
• Tampering with computer networks.
• Conducting fake examinations.
• Issuing fake admit cards and offer letters.

ii.The Act also prohibits:

• Disclosing exam-related confidential information before time; and
• Unauthorised people from entering exam centers to create disruptions.

Protection of Candidates:
The Bill defines candidates and ensures they won’t be subject to actions within the purview of the Bill.

• Instead, they remain covered by existing administrative provisions of the relevant public examination authority.

Penalties:
Offenders under the Bill will face severe penalties, including:

• Imprisonment ranging from 3 to 10 years.
• Fines ranging from Rs. 10 lakh to 1 crore.

Note: All offenses under the Bill are cognisable, non-bailable, and non-compoundable.
Accountability of Service Providers:
i.The legislation prohibits service providers from shifting exam centers without permission from the examination authority.
ii.Service providers will be barred from conducting public exams for 4 years.
iii.The proportionate cost of examination will also be recovered from such a service provider.
Note: The service provider is an organisation that provides computer resources or any other support to a public examination authority.

Union Minister Parshottam Rupala Launches the Realigned AHIDF SchemeOn 14th February 2024, Union Minister Parshotam Rupala, Ministry of Fisheries, Animal Husbandry and Dairying(MoFAH&D) has launched the realigned Animal Husbandry Infrastructure Development Fund(AHIDF) Scheme at New Delhi, Delhi.

• He also released a radio jingle(advertisement music) on AHIDF.

Background:
i.AHIDF was launched on 24th June 2020 by the Prime Minister(PM) Narendra Modi under the Atmanirbhar Bharat Abhiyan Initiative with an outlay of Rs 15000 crore.
ii.On 1st February 2024, The union cabinet approved the continuation of the AHIDF under the Infrastructure Development Fund (IDF)with an outlay of Rs 29,610.25 crore.
iii.The realigned scheme will be implemented for three years from 31st March 2023 till 2025-26.
About the AHIDF Scheme:
i.The Scheme will encourage investments in animal-based (Dairy and Meat) processing and diversification, Animal Feed Plant, breed multiplication farms, Agri-waste management, and veterinary vaccine/drug production facilities.
ii.Dairy Infrastructure Development Fund(DIDF) has been subsumed in the realigned AHIDF. The interest subvention for Dairy Cooperatives has been increased to 3% under the realigned AHIDF instead of the 2.5% under DIDF.
Eligibile entities:
Farmer Producer Organization(FPO); Private companies; Individual Entrepreneurs; Section 8 companies and Micro Small and Medium Enterprises(MSMEs)
Benefits:
i.Beneficiaries will get a 3% interest subsidy for 8 years(including 2 years of moratorium).
ii.Beneficiaries can receive loans up to 90% of the project’s estimated or actual cost from scheduled banks.The scheme has no maximum or minimum limit on loan amounts.
iii.Beneficiaries will get a credit guarantee of up to 25% of term loan.
iv.It also has the option of integrating with capital subsidy schemes from other ministries or state-level schemes.

GoI Announces 1st Ever National Creator’s Awards for New-age Influencers & Creators The Government of India (GoI) through its citizen engagement platform MyGov announced the first-ever ‘National Creators Award’ to recognise and celebrate the contributions of new-age influencers, and content creators and celebrate India’s digital creator economy.

• The awards will recognise outstanding creativity and innovations across over 20 categories in diverse sectors such as education, social change, environmental sustainability, gaming, and more.

Objective:
The award aims to highlight the diverse voices and talents that shape India’s growth, influence its cultural narrative, contribute to positive social change, and promote innovation and creativity in the digital sphere.

India & Colombia signed MoU on Sharing India’s Open-Sourced DPIs
Ministry of Electronics and Information Technology (MeitY), Government of India and  Ministry of Information and Communication Technologies (ICT) of Colombia signed a Memorandum of Understanding (MoU) on sharing India’s open-sourced Digital Public Infrastructures (DPIs) – India Stack Solutions – implemented at Population Scale for Digital Transformation.

• The MoU was signed by S. Krishnan, Secretary of MeitY and Mauricio Lizcano, Minister of ICT of Colombia in the presence of Rajeev Chandrasekhar, Minister of State (MoS), MeitY.
• The MoU intends to promote digital transformation(India Stack) through capacity building programs, the exchange of best practices, the exchange of public officials and experts, the development of pilot or demo solutions, and the facilitation of private sector contacts to mutually benefit the digital ecosystems of both countries.

Note: India Stack is a set of digital infrastructure components that enable the delivery of various digital services to Indian citizens by utilizing Aadhaar, eSign, Digilocker, and Unified Payments Interface (UPI).

Ruchira Kamboj of India Chaired 62nd Session of the Commission for Social DevelopmentAmbassador Ruchira Kamboj, India’s Permanent Representative to the United Nations (UN), chaired the 62nd Session of the Commission for Social Development (CSocD62), held from 5-14 February 2024 at the UN Headquarters in New York, the United States of America (USA).

• India chaired the session of CSocD for the first time since 1975.

Note: Poland is set to chair the 63rd session of the CSocD in 2025.
About CSocD:
The CSocD is the advisory body of the  UN Economic and Social Council (ECOSOC) and serves as a crucial intergovernmental platform responsible for the social development pillar of global development.
CSocD was initially established as Social Commission in 1946. ECOSOC renamed the commission as The Commssion for Social Development in 1966.
Bureau of CSocD62:
i.Chair: Ruchira Kamboj (India)
ii.Vice-Chairs:

• Carla María Carlson, Counsellor at the Permanent Mission of the Dominican Republic.
• Jon Ivanovski, Deputy Permanent Representative at the Permanent Mission of North Macedonia.
• Stéphanie Toschi, Counsellor at the Permanent Mission of Luxembourg.
• Joslyne Kwishaka, Counsellor at the Permanent Mission of Burundi.

Note: The bureau of CSoCD62 was elected during the 13th plenary meeting of 61st session of CSocD. India’s term in CSocD will expire in 2027.
About CSocD62:
Priority theme: Fostering Social Development and Social Justice through Social Policies to Accelerate Progress on the Implementation of the 2030 Agenda for Sustainable Development and to Achieve the Overarching Goal of Poverty Eradication.
Highlights of CSocD62:
Four resolutions were adopted during the session chaired by India.
i.Resolution on Promoting care and support systems for social development.
ii.Resolution on Social Dimensions of the New Partnership for Africa’s Development.
iii.Resolution on the Priority Theme of the 63rd session of the CSocD.
iv.Resolution on the Priority Theme of the CSocD62.

LIC Launches a New Insurance Plan ‘LIC Amritbaal Plan 874’ for ChildrenOn 17th February 2024, the Life Insurance Corporation of India (LIC) launched ‘LIC Amritbaal Plan 874’, a new Non-Linked, Non-Participating, Individual, Savings, Life Insurance plan.

• The plan is designed to meet the higher education and other financial needs of the child.

Eligibility/Parameters:
i.Age of Entry – 30 days to 13 years
ii.Maturity Age – 18 years to 25 years
iii.Premium Paying Mode- Yearly, Half Yearly, Quarterly, Monthly and Single
iv.Policy term: For single premium payment– minimum 5 years & maximum 25 years and for Limited Premium payment – minimum 10 years & maximum 25 years.
v.Sum Assured: Minimum Rs 2 lakhs (No limit on Maximum Sum Assured)
vi.Loan facility:
For limited premium: loan can be availed after 3 years premium have been paid.
For single premium: loan can be availed after 3 months after purchasing the policy.
About Amritbaal Plan:
i.The plan offers risk cover on the life of the child during the policy term.
ii.It facilitates the accumulation of corpus through a Guaranteed Addition of Rs 80 per 1000 Basic Sum Assured throughout the Policy Term.
iii.The policy comes with many facilities like Locking period (2 years), a Revival option (5 years), a Cooling-off Period (15 days), and a Riders option.
iv.The premiums paid are exempted from income tax under section 80C of Income Tax Act, 1961.
About Life Insurance Corporation (LIC) of India:
Interim Chairman – Siddhartha Mohanty
Headquarters – Mumbai, Maharashtra
Established in – 1956

CIAL & BPCL signed MoU to set up World’s 1st Green Hydrogen Plant Within an AirportCochin International Airport Limited (CIAL) has signed a Memorandum of Understanding (MoU) with Bharath Petroleum Corporation Limited (BPCL) to set up the world’s first green hydrogen plant and fueling station within an airport setting.

• Under this MoU, a 1000 kilowatt (KW) pilot project will be established at the airport premises of Cochin International Airport, Ernakulam, Kerala.

Key People:
i.The MoU was exchanged in the presence of Pinarayi Vijayan, Chief Minister (CM) of Kerala & Chairman of CIAL at the Legislative Complex in Thiruvananthapuram, Kerala.
ii.G. Krishnakumar, Chairman & Managing Director (CMD) of BPCL and S. Suhas, MD of CIAL were also present during the event.
Key Points:
i.As per the MoU, CIAL will provide land, water, and green energy resources for the construction of the green hydrogen plant.
ii.BPCL will provide technology for the establishment of plant and fueling stations and manages the overall operations.
iii.The initial output of the plant will be utilized for powering vehicles within the airport premises.
iv.The plant is expected to be completed in 2025.
What is Green Hydrogen?
i.Green hydrogen refers to hydrogen produced using renewable energy sources through a process known as electrolysis.
ii.Green hydrogen is produced by splitting water molecules (H2O) into hydrogen (H2) and oxygen (O2).
Additional Info:
In 2015, CIAL became the world’s first airport which is fully powered by solar energy.
About Bharath Petroleum Corporation Limited (BPCL):
i.BPCL is a Maharatna Central Public Sector Enterprise (CPSE) functioning under the Ministry of Petroleum and Natural Gas (MoPNG).
ii.In 1952, incorporated as a private limited company with the name Burmah Shell Refineries Limited and renamed as BPCL in 1977.
Chairman & Managing Director (CMD) – G Krishnakumar
Headquarters – Mumbai, Maharashtra

2023 Burgundy Private Hurun India 500 List: RIL Tops as Most Valued Indian Company for 3rd Consecutive YearAccording to the 2023 Burgundy Private Hurun India 500 released by Axis Bank’s Burgundy Private and Hurun India, Reliance Industries Limited (RIL) has emerged as the India’s most valuable company for the 3rd cosecutive year with a value of Rs 15,64,663 crore.

• RIL is followed by Tata Consultancy Service (TCS) with a value of Rs 12,36,229 crore and HDFC Bank with Rs. 11,25,975 crore at 2nd and 3rd spot.

Note: 2023 Burgundy Private Hurun India 500 is the 3rd edition of the 500 Most Valuable Private Companies in India.
Highlights:
The list comprises companies across 44 cities of 16 states in India, led by Mumbai (156); Bengaluru (59); and New Delhi (39).
i.Maharashtra has the highest number of companies followed by Karnataka, Tamil Nadu and Delhi.
ii.The top 3 cities contributed 254 entrants, compared to 264 entrants in 2022.
About Hurun Report Inc.:
Hurun Report is a leading research, luxury publishing and events group established in 1998 in London, the United Kingdom(UK).
It has presence in various countries including India, China, France, UK and Japan. Hurun India was launched in 2012.
Founder & Chief Researcher (Hurun India) – Anas Rahman Junaid
Headquarters (Hurun India)- Mumbai, Maharashtra

Havildar Varinder Singh of Sikh Regiment conferred Vishisht Seva Medal for Octocopter DevelopmentHavildar Varinder Singh of the Sikh Regiment in the Indian Army was awarded the Vishisht Seva Medal (VSM) for designing an innovative drone called ‘a multipurpose octocopter’.

• He was one of the 130 Vishisht Seva Medal awardees announced by President Droupadi Murmu on 25th January 2024.

Click here to view the full list of Vishisht Seva Medal Awardees  
About multipurpose octocopter:
i.The multipurpose octocopter is a versatile drone capable of conducting surveillance operations, grenade dropping, aerial target engagement with weapons like the AK-47, and logistics operations.

• The octocopter is a type of drone with eight blades.

ii.It can also be used to drop essential supplies to forward posts, including in high-altitude areas.
About Vishisht Seva Medal:
The Vishisht Seva Medal was instituted on 26th Jan 1960 as VSM Class-III to recognize the distinguished service of a high order. It was renamed in January 1967 as VSM.
Medal: The 35-millimeter (mm) diameter medal is circular in shape and made of bronze.
The medal’s front side features a five-pointed star, while the reverse bears the State Emblem with the text written around the upper edge.
Ribbon: The medal is attached to a gold color ribbon which has three dark blue stripes dividing it into four equal parts.
Note:
If a recipient of the medal is awarded the medal again, each succeeding award will be recognised by a bar that will be affixed to the riband that suspends the medal.
About Indian Army:
Chief of the Army Staff – General Manoj Pande
Headquarters – New Delhi, Delhi
Founded – 1895

Japan Aerospace Exploration Agency successfully Launches H3 rocket 
On 17th February 2024, Japan Aerospace Exploration Agency (JAXA) successfully launched the second H3 Launch Vehicle (H3TF2) from the Tanegashima Space Center, off the coast of Kyushu, Japan.
i.The H3 rocket was developed by JAXA along with Mitsubishi Heavy Industries Limited (MHI).
ii.H3 carried a dummy satellite, VEP 4 (Vehicle Evaluation Payload 4), and two functioning microsatellites, CE-SAT-1E and TIRSAT, for earth observation purposes.
iii.The cost-effective rocket is designed to carry a 6.5 metric tonne payload into space for 5 billion Japanese yen (USD 33 million) per launch.
Note: H3 is the successor to the H-IIA launch system, debuted in 2001. Previously, H3 had suffered two failures in February 2023 and March 2023 due to technical issues.

Phylloneura rupestris: A New Species of Damselfly Discovered in Kerala
A team of researchers discovered a new species of damselfly named Phylloneura rupestris from the Ponmudi Hills (Western Ghats) in Thiruvananthapuram, Kerala.

• The common name of the new species of the bambootails group is “Cliffside Bambootail”.
• The species epithet rupestris translates to “that lives on cliffs or rocks”  in Latin which denotes its habitat preference.
• The discovery was published in the scientific journal ‘International Journal of Odonatology’, published by Worldwide Dragonfly Association.

Global Tourism Resilience Day 2024- February 17 The United Nations (UN) Global Tourism Resilience Day (GTRD) is annually observed across the globe on 17 February to recognise the importance of fostering resilience in the tourism industry.

• GTRD observance emphasises the necessity to address and navigate shocks, considering the inherent vulnerability of the tourism sector to emergencies.

17 February 2024 marks the observance of the 2nd Global Tourism Resilience Day.
Background:
i.On 6 February 2023, the United Nations General Assembly (UNGA) adopted the resolution A/RES/77/269 and proclaimed the  17 February of every year as Global Tourism Resilience Day.
ii.The first-ever Global Tourism Resilience Day was observed on 17 February 2023.
About United Nations World Tourism Organization (UNWTO):
Secretary-General– Zurab Pololikashvili
Headquarters– Madrid, Spain
Established in– 1975

Haryana CM Manohar Lal Khattar Launched ‘Van Mitra’ Scheme & Portal to Encourage Community Participation in Plantation Manohar Lal Khattar, Chief Minister (CM) of Haryana, launched the ‘Van Mitra‘ scheme and its portal to encourage community participation in tree plantation activities on non-forest lands.
About Van Mitra’ scheme:
Objective: To empower local community to participate in expanding Haryana’s green cover, increase the survival rates of newly planted trees and to increase tree planting in non-forest land outside traditional forest zones.
Eligibility:
i.Families with an annual income of less than Rs 1.80 lakh can join the scheme.  Eligible individuals aged 18 to 60 can register to become ‘Van Mitras,’
ii.The eligible individuals will be identified from data of Parivar Pehchan Patra (PPP) maintained by the Citizens Resources Information Department (CRID).
Note: The Van Mitra portal or Mobile App will be used for registration, geo-tagging, and assessment of the survival of plantations.
Financial Incentives:
i.Under the scheme, each ‘van mitra’ will receive an incentive, based on the maintenance of the plant for up to 4 years and they can plant a maximum of 1,000 saplings.
ii.In the first year, Van mitras will receive Rs 20 per pit following this, Rs 30 will be awarded for each sapling planted.
Note: Payment will be directly made into their accounts, adhering to the government’s Direct Transfer Benefit (DBT) policy of Government.
Implementation:
i.In the first phase of the scheme, the selection of 7500 Van Mitra from economically weaker sections will be done through the portal.
ii.A Van Mitra can select non-forest land for plantation anywhere in the village, town, or city of their residence.
Training: Van Mitras receives basic training on plantation techniques and protection measures. Practical training will also be provided on using the Van Mitra mobile app.

Odisha Cabinet Approves SWAYAM Scheme to Provide Interest-free Loan to Unemployed YouthsThe Odisha cabinet approved various proposals including the establishment of a new scheme named Swatantra Yuva Udyami Scheme (SWAYAM), to provide interest-free loans to unemployed/underemployed youths, and to promote self-employment among the youths in Odisha.

• Under the scheme, the eligible youth in the age group of 18-35 residing in both rural and urban areas in Odisha can avail loan of up to Rs 1 lakh to start a new business or expand the existing ones.

Note: The state Cabinet chaired by Chief Minister (CM) Naveen Patnaik has approved several proposals, encompassing diverse sectors during a meeting at the Lok Seva Bhawan, Odisha.
Objective:
The objective of the scheme is to support entrepreneurs, who intend to start new ventures or expand their existing businesses.
Budget Allocation:
The government plans to disburse Rs 448 crore for the scheme, aiming to benefit 1 lakh eligible rural youth over 2 years.
Eligibility Criteria:
i.All rural unemployed youth or those without outstanding loans from central/state schemes for the same purpose.
ii.Should be in the age group of 18-35 years; (18-40 years for the special category).
iii.In rural areas, the applicant’s family is covered under the Krushak Assistance for Livelihood and Income Augmentation (KALIA) or Biju Swasthya Kalyan Yojana (BSKY) and should earn less than Rs 2 lakh annually, where “family” implies self and spouse.

• In the urban area, the applicant’s family must be covered under the BSKY scheme or earn less than Rs 3 lakh annually.

Highlights of 2nd Edition of India Energy Week held in Goa – 6th to 9th February 2024The 2nd edition of India Energy Week (IEW 2024) was held from 6th to 9th February 2024 at the Institute of Petroleum Safety, Health and Environment Management (IPSHEM)-Oil and Natural Gas Corporation (ONGC) Training Institute, South Goa, Goa.
Highlights: 
i.The International Energy Agency (IEA) released a report titled “Indian Oil Market Outlook to 2030” at IEW 2023.
ii.NITI Aayog(National Institution for Transforming India) and the Embassy of the Kingdom of the Netherlands released a report titled “LNG(Liquefied Natural Gas) as a transportation fuel in Medium and Heavy Commercial Vehicle”.
iii.On the sidelines of IEW 2024, India signed the biggest-ever deal worth USD 78 billion to extend LNG imports from Qatar for 20 years from 2029 to 2048 at lower than current rates. This will save an estimated USD 6 billion over the life of the contract.
About Ministry of Petroleum and Natural Gas (MoPNG):
Union Minister– Hardeep Singh Puri(Rajya Sabha- Uttar Pradesh)
Minister of State (MoS)– Rameswar Teli (Lok Sabha- Dibrugarh, Assam)

Union Minister Dharmendra Pradhan launched ‘100 Cube’ initiative in IIT BhubaneswarUnion Minister Dharmendra Pradhan, Ministry of Education (MoE) has launched the ‘100 Cube’ initiative during a two-day 100 Cube Start-up Conclave held at Research and Entrepreneurship Park (REP) of the Indian Institute of Technology (IIT) Bhubaneswar, Odisha from 11th to 12th February 2024.
About 100 Cube:
i.100 Cube is a Start-up initiative of IIT Bhubaneswar.
ii.The initiative aims to create 100 start-ups, each with a valuation of Rs 100 crore, by the 100th anniversary of Odisha.
iii.The essential resources, mentorship, seed capital and access to potential investors will be provided by REP.
iv.The REP will also be expanded about four times in a couple of years with a budget of about Rs 130 crore.
v.Memorandum of Understanding (MoU) were also exchanged between 16 Start-ups and REP.
Note: In 1936, Odisha (formerly Orissa) formed as a separate province on linguistic basis. By 2036, Odisha will be celebrating its 100th anniversary.
IREDA & IIT Bhubaneswar partnered for Renewable Energy Sector
Indian Renewable Energy Development Agency Limited (IREDA) and IIT Bhubaneswar have signed a MoU to support innovation and research, technology transfer, and cultivate a thriving start-up ecosystem in the renewable energy sector.

• The MoU was signed at the 100 Cube Start-up Conclave.
• IREDA is a Mini Ratna (Category – I) Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy (MNRE)

Additional Info:
IREDA also entered into MoUs with the Union Bank of India (UBI) and the Bank of Baroda (BoB) to support co-lending and loan syndication initiatives in renewable energy projects.

MoFAHD Exempted Income Tax for Dairy Cooperative SocietiesThe Union Minister Parshottam Rupala, Ministry of Fisheries, Animal Husbandry, & Dairying (MoFAHD), Government of India (GoI), granted income tax exemptions for the Dairy Cooperative Society under the Income Tax Act, 1961, to provide relief to the cooperative societies.
Government Initiatives for Cooperative Societies:
i.Deduction for Milk Supply:
Primary cooperative societies supplying milk to the Federal Cooperative Society can claim deductions under section 80P of the Income Tax Act of 1961.

• Eligible for deductions covering the entirety of profits related to supplying milk to Union societies.

ii.Surcharge Reduction:
The surcharge on cooperative societies’ income, ranging from Rs. 1 crore to 10 crores, has been decreased from 12% to 7%.
iii.Alternate Minimum Tax Adjustment:
Cooperative societies now enjoy a reduced Alternate Minimum Tax rate, down from 18.5% to 15%, aligning them with companies.
iv.Amendment to Section 269T:
Amendment to Section 269T of the Income Tax Act exempts penal consequences for cash repayments by the Primary Agricultural Credit Societies (PACS) or an Primary Cooperative Agriculture and Rural Development Bank (PCARDB) by its member in cash, if the amount is below Rs. 2 lakh, previously the limit was Rs. 20,000 per member.
v.Higher TDS Limit:
Co-operative societies benefit from a higher Tax Deducted at Source (TDS) limit of Rs. 3 crore on cash withdrawals, compared to the Rs. 1 crore threshold for other recipients under section 194N.
Key Points:
Interest Subvention for Farmers:
The Government offers interest subvention to make short-term crop loans up to Rs. 3 lakh available to farmers at an interest rate of 7% per annum, with an additional 3% for prompt repayment, effectively reducing the interest rate to 4%.
KCC for Animal Husbandry and Fisheries:
The Kisan Credit Card (KCC) scheme, introduced in the fiscal year 2018-19, now extends to Animal Husbandry and Fisheries.

• The scheme is designed to provide short-term working capital loans up to Rs. 2 lakh per beneficiary, comparable to short-term crop loans.

Bihar Introduced ‘Patna Declaration’ to Strengthen Bird Conservation Initiatives in South Asian regionThe Bihar government has brought out the ‘Patna Declaration’ to strengthen bird conservation initiatives and address the challenges posed by illegal hunting in the South Asian region.

• The declaration was finalised at the international workshop organised by the Department of Environment, Forest and Climate Change (DEFCC) of Bihar and the Bombay Natural History Society (BNHS).

About the Patna Declaration:
i.The Patna Declaration aims to increase collaboration between countries and organisations along the Central Asian Flyway (CAF) and East Asian Australasian Flyway (EAAF) in bird conservation activities and combat illicit hunting and trading of wild birds.
ii.It also aims to implement the Convention on International Trade in Endangered Species (CITES) at the grassroots level through the Wildlife Protection Action Act of 1972 (as amended in 2022).
iii.Task force: The declaration recommends to set up a task force on illegal killing, taking, and trade of migratory birds in the South Asian region.

• This will facilitate the implementation of guidelines and action plans and consider the necessity of new recommendations to respond to specific problems

About the Workshop:
i.The three-day workshop on ‘Bird Conservation Initiatives in India with a special focus on illegal hunting, taking and trade of birds-conservation and management issues and concerns – South Asian Regional Perspective’ was held from 5th to 7th February 2024 in Patna, Bihar.
ii.Delegates from national and international wildlife organisations participated in the workshop. Around 15 delegates from 8 countries: Bangladesh, Bhutan, Nepal, Myanmar, Sri Lanka, Kazakhstan, Singapore, and the Netherlands attended the workshop.
Note: The declaration was endorsed by delegates from all the 8 countries.

MNRE issued Guidelines for the Implementation of Pilot Projects to Use Green Hydrogen in the Transport SectorOn 14th February 2024, The Ministry of New & Renewable Energy (MNRE) has issued Scheme Guidelines for the implementation of Pilot Projects for the use of Green Hydrogen in the Transport Sector under the National Green Hydrogen Mission (NGHM).
The scheme was approved by Union Minister Raj Kumar Singh, MNRE.

• The President of India, Droupadi Murmu also sanctioned the implementation of the scheme.

Key Points:
i.Pilot projects for replacing fossil fuels with Green Hydrogen and its derivatives will be implemented by MNRE under NGHM.
ii.These projects will be implemented through the Ministry of Road Transport and Highways (MoRTH) and the Scheme Implementing Agencies (SIAs) nominated under this Scheme.

• MNRE will fund SIA on the recommendation of the Project Appraisal Committee(PAC). 

iii.It will be implemented with a total budgetary outlay of Rs. 496 Crores till the financial year(FY) 2025-26.
iv.The pilot project has two components namely:

• Component A: To support the deployment of Green Hydrogen as a fuel in buses, trucks and four-wheeler vehicles in a phased manner on a pilot basis.
• Component B: To develop technologies for supporting infrastructure like Hydrogen refuelling stations.

v.The scheme also assesses the performance of Green Hydrogen
vehicles in real-world scenarios.
NGHM:
i.NGHM was launched in 2023 with a total budgetary outlay of Rs. 19,744 crores.
ii.The mission aims to make India as a global hub for the production, use, and export of green hydrogen and its derivatives.
iii.MNRE will be responsible for the overall coordination and implementation of the Mission while all the concerned Ministries, Departments, agencies and institutions of the Central and State Governments will work towards the achievement of the Mission objectives.
About Ministry of New and Renewable Energy(MNRE):
Union Minister – Raj Kumar Singh (Constituency – Arrah, Bihar)
Minister of State(MoS) – Bhagwanth Khuba (Constituency – Bidar, Karnataka)

State of the World’s Migratory Species Report released at CMS COP14 in UzbekistanOn February 12, 2024, the  first-ever ‘State of the World’s Migratory Species‘ report was launched at the 14th Meeting of the Conference of the Parties to the Convention on the Conservation of Migratory Species of Wild Animals (CMS COP14), also known as Bonn Convention in Samarkand, Uzbekistan from February 12-17, 2024.

• The CMS COP14 is convened under the slogan, “Nature knows no borders”.
• It is also the first COP of any global environmental treaty to take place in Central Asia.

i.It is prepared by the conservation scientists in collaboration with United Nations Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and CMS.
ii.Human activities are the primary cause of the decline in migratory species.
About United Nations Environment Programme (UNEP):
Executive Director– Inger Andersen
Headquarters– Nairobi, Kenya
Establishment- 1972
Members – 193 Member States

IRDAI Issues Draft Regulations for Bima Sugam – Insurance e-Marketplace On 13th February 2024, The Insurance Regulatory and Development Authority (IRDAI) has issued an exposure draft regulations, “IRDAI (Bima Sugam – Insurance Electronic Marketplace) regulations, 2024”, for a digital infrastructure called Bima Sugam.

• Bima Sugam is a one-stop insurance e-marketplace for all stakeholders of Insurance to promote transparency, efficiency, collaboration across the entire insurance value chain.

IRDAI Proposes 30 days ‘free look’ period for policies from date of receipt
IRDAI also proposed to extend the free-look period for insurance policies from 15 days to 30 days to ensure protection of policyholders’ interest.

• It is a part of draft on IRDAI (Protection of Policyholders’ Interests and Allied Matters of Insurers) Regulations, 2024.

About Insurance Regulatory and Development Authority of India (IRDAI):
IRDAI is a statutory body that regulates and develops the insurance industry in India.
It was constituted in 1999 and incorporated as a statutory body in 2000.
Chairman– Debasish Panda
Headquarters– Hyderabad, Telangana

Federal Bank launches Stellar Savings Account & MasterCard enabled Stellar Debit Card Federal Bank Limited has launched a new savings account called ‘Stellar Savings Account’.

• The account holders are offered with a power-packed ecofriendly Stellar Debit Card which is powered by contactless MasterCard Technology.

Eligibility:
Any individuals residing in India are eligible to open the Stellar Saving Account.
Key Features:
i.Wellness Program: 
The Stellar Savings Account comes with a complimentary wellness program that covers Daily Health & Wellness, Mental Wellness, Telemedicine and offline care.
ii.Insurance Plan: 
The account also offers complimentary insurance coverage of Rs. 10 Lakhs for Personal Accidental Death & Permanent Disability. It also offers hospital cash benefits of Rs.1000 per day for 10 days.

• Insurance coverage is provided by HDFC ERGO Private Limited.

iii.Wellness Coverage:
The savings account also offers a complimentary one-year wellness plan which comprises fitness tracking, psychologist consults, telemedicine and offline care.
iv.Milestone rewards:
The account holder will be rewarded for achieving milestones such as making an initial remittance, making the first payment in the FedMobile application, Open a Recurring Deposit & shopping using a Stellar Debit Card.
Note: The account holder should maintain an Average Monthly Balance (AMB) of Rs.10,000.
About Debit Card:
i.Limits:

• ATM cash withdrawal limits- Rs.50,000 per day
• Shopping Limits- Rs.3 lakh per day

ii.The annual maintenance charge for the card is Rs.300. The charge will be waived-off if the spending of the card is greater than Rs.75000 in a year.
About Federal Bank Limited:
Managing Director (MD) & Chief Executive Officer (CEO) –  Shyam Srinivasan
Headquarters – Aluva, Kochi, Kerala
Established in – 1931
Tagline – Your Perfect Banking Partner

RBI & Nepal Rastra Bank signed ToR to integrate UPI and NPI for Cross-Border Remittances
The central banks of India & Nepal namely the Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) have signed Terms of Reference (ToR) to integrate the fast payment systems of both countries.

• As per ToR, the Unified Payments Interface (UPI) of India and the National Payments Interface (NPI) of Nepal will be integrated to facilitate cross-border remittances.
• This integration aims to streamline cross-border remittances between the two countries by allowing users of both systems to conduct instant, cost-effective fund transfers.

BOBCARD & NPCI launched India’s second Corporate Credit Card on the RuPay Network
Mumbai(Maharashtra) based BOBCARD Limited (Formerly known as BOB Financial Solutions Limited) and National Payments Corporation of India (NPCI) have launched India’s second Unified Payments Interface (UPI) enabled Corporate Credit Card on the RuPay Network. 

• The card caters to the Travel & Entertainment (T&E) and other payment needs of the Corporates.
• The card comes with benefits such as a complimentary airport lounge, Reward points, a Fuel surcharge waiver and in-build insurance coverage.
• In December 2023, IndusInd Bank Limited launched India’s first Corporate Credit Card ‘The eSvarna Card’ on the RuPay network.

Note: BOBCARD Limited is a Non-Banking Financial Company (NBFC), wholly owned by the Bank of Baroda (BoB).

Isha Ambani received a Special Award at LMOTY 2024
Isha Ambani, Director of Mumbai (Maharashtra) based Reliance Retail Ventures Limited, was honoured with a special award at the Lokmat Maharashtrian of the Year 2024 (LMOTY 2024) ceremony in Mumbai.

• Isha Ambani was honoured for her remarkable contributions in the field of business.
• Nita Ambani, the mother of Isha Ambani was also a recipient of the award in 2016.
• LMOTY award is presented by the leading Marathi newspaper ‘Lokmat’, it honors individuals who made Maharashtra proud across India & the globe.

ICAI elects CA. Ranjeet Kumar Agarwal as 72nd President; CA. Charanjot Singh Nanda as its Vice PresidentThe Central Council of the Institute of Chartered Accountants of India (ICAI) has elected CA. Ranjeet Kumar Agarwal as its 72nd President for the term 2024-25.

• He succeeded CA. Aniket Sunil Talati who served as the president of ICAI for the term 2023-24.
• ICAI also elected CA. Charanjot Singh Nanda as its Vice President for the term 2024-25.

About CA. Ranjeet Kumar Agarwal:
i.Prior to the appointment, he served as the Vice President of ICAI for 2023-24.
ii.In 2022-23 , he has chaired Taxation Audits Quality Review Board (TAQRB) of ICAI .
iii.He was elected to the 23rd, 24th & 25th Central Council of the ICAI for 3 times in a row from 2016.
iv.He is a member of the

• Comptroller and Auditor General of India (C&AG)’s Government Accounting Standards Advisory Board (GASAB) and Audit Advisory Board
• Insurance Regulatory and Development Authority of India (IRDAI)’s – Insurance Advisory Committee and Board.
• Securities and Exchange Board of India (SEBI)’s Primary Market Advisory Committee.

iv.Currently, he is the Technical Advisor to the ICAI’s Nominee on the International Federation of Accountants (IFAC) Board, and member on International Panel on Accountancy Education (IPAE) Group of IFAC.
v.He is also serving as a Board member of South Asian Federation of Accountants (SAFA).
About CA. Charanjot Singh Nanda:
i.CA. Charanjot Singh Nanda served as a Central Council Member for a total of 4 terms.
ii.He served as a Chairman of following committees, ‘Internal Audit Standards Board’ & ‘Committee on Management Accounting’ and Vice chairman of ‘Continuing Professional Education Committee (CPE)’ of ICAI.
About Institute of Chartered Accountants of India (ICAI):
i.ICAI is a statutory body established by The Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountancy in the country.
ii.The ICAI, functions under the administrative control of the Ministry of Corporate Affairs(MoCA).
President –  CA. Ranjeet Kumar Agarwal
Headquarters – New Delhi, Delhi
Established in – 1949

National Women’s Day 2024- February 13 National Women’s Day is annually observed across India on 13 February to commemorate the birth anniversary of Sarojini Naidu, popularly known as the “Nightingale of India” or “Bharat Kokila.”

• National Women’s Day celebrates the contribution made by Sarojini Naidu for establishing women’s rights in the patriarchal Indian society.

The Day aims to recognise the cultural, political, and economic contributions of women in India and also celebrates the achievements of women across various domains.

• 13 February 2024 marks the 145th birth anniversary of Sarojini Naidu.

International Childhood Cancer Day 2024- February 15 International Childhood Cancer Day (ICCD) is annually observed across the globe on 15 February to raise awareness about childhood cancer and its unique challenges, and to express support for children and adolescents battling cancer, the cancer survivors, and their families.
The campaign theme of ICCD 2024 is “Unveiling Challenges.”
Symbol: The Gold Ribbon is the universal awareness symbol of Childhood Cancer.
Background:
i.ICCD, an annual event was created in 2002 by Childhood Cancer International (CCI), an umbrella organisation of childhood cancer grassroots and national parent organisations.
ii.ICCD campaign is a joint effort by CCI and the International Society of Pediatric Oncology or Société Internationale d’oncologie Pédiatrique (SIOP).
iii.The 1st ever ICCD was observed on 15 February 2002.
About Childhood Cancer International (CCI):
President– Rodney Wong
Headquarters– Amsterdam, Netherlands
Founded in– 1994

MoD inks Rs 2,282.06cr contract with BEL to procure 11 Shakti EWS for IN; Signs Rs 1,752.13 Cr with AWEIL for 463 SRCG for IN & ICGThe Ministry of Defence (MoD) has signed a contract with Bharat Electronics Limited (BEL) to procure 11 Shakti Electronic Warfare Systems (EWS) along with associated equipment / accessories for the Indian Navy (IN) at a cost of Rs 2,167.47 crore.

• It also received additional orders worth Rs.114.59 crore to develop Very low frequency receivers (HD VLF), etc.

i.The Shakti EWS will be designed and developed by Defence Electronics Research Laboratory (DLRL) Hyderabad, Telangana.
ii.On the lines of Aatmanirbharta in Defence, MoD also signs Rs 1752.13 crores contract with the Advanced Weapons and Equipment India Limited(AWEIL), Kanpur, Uttar Pradesh (UP) for the manufacturing and supply of 463 indigenously manufactured 12.7 mm Stabilised Remote Control Guns (SRCG) for the Indian Navy and Indian Coast Guard (ICG).
About Ministry of Defence:
Union Defence Minister– Rajnath Singh  (Constituency – Lucknow, Uttar Pradesh)
Minister of State– Ajay Bhatt (Constituency- Nainital-Udhamsingh Nagar, Uttarakhand)

PM Modi Inaugurated & Laid Foundation Stone of Various Projects Worth Rs 7500 cr in Jhabua, MP On 11 February 2024, Prime Minister (PM) Narendra Modi inaugurated and laid the foundation stone for multiple developmental projects worth Rs 7,500 crore in Jhabua, Madhya Pradesh (MP). The development projects will benefit the significant tribal population of the region.
i.The projects also focus on strengthening the water supply and provisioning of drinking water, enhancing education, and boosting the road, rail, and power sectors in MP.
ii.PM Narendra Modi announced the launch of ‘PM Surya Ghar: Muft Bijli Yojana’, to encourage people to install solar panels on their rooftops for free electricity. The scheme aims to provide free electricity of 300 units per month to 1 crore households in India.
About Madhya Pradesh:
Chief Minster– Mohan Yadav
Governor– Mangubhai C. Patel
National Parks– Dinosaur Fossil National Park and Van Vihar National Park
Wildlife Sanctuaries– Bagdara Wildlife Sanctuary and Gandhi Sagar Sanctuary

MIB Revised National Film Awards Regulations: Names of Indira Gandhi & Nargis Dutt Removed From Awards Category The Ministry of Information and Broadcasting (MIB) has revised the National Film Awards regulations and made significant changes, including renaming awards, merging categories, and increasing prize money. The changes were made based on the recommendation of the Committee for Rationalization of Film Awards.

• The change will come into effect in the upcoming 70th edition of the National Film Awards (2022), whose entries closed on January 30th, 2024.
• The ‘Indira Gandhi Award for Best Debut Film of a Director’ has been renamed ‘Best Debut Film of a Director’. The award includes a Swarna Kamal and cash award of Rs 3 lakh which will be presented to the director of the film.
• The ‘Nargis Dutt Award for Best Feature Film on National Integration’ has been clubbed with ‘Best Film on Social Issues’ and ‘Best Film on Environment Conservation/Preservation’. The newly formed award is named ‘Best Feature Film Promoting National, Social, and Environmental Values’.
• The awards are categorised into four sections. They are Feature films, non- features films, Best writing on cinema, and the Dadasaheb Phalke Award(Lifetime Achievement Award).

NITI Aayog Launches Greening India’s Wastelands with Agroforestry Report and PortalOn February 12, 2024, NITI Aayog(National Institution for Transforming India) launched the Greening and Restoration of Wasteland with Agroforestry (GROW) initiative, which includes GRWO report and portal at NITI Aayog headquarters in New Delhi, Delhi.
Note: Agroforestry involves integrating trees with crops and/or animals farming systems on the same unit of land.
About GROW Portal:
i.The GROW-Suitability Mapping portal on Bhuvan (https://bhuvan-app1.nrsc.gov.in/asi_portal/) will allows universal access to state and district-level data.
ii.This portal is expected to significantly boost the promotion of agroforestry initiatives by government bodies.
About GROW Report:
i.The report, developed under the leadership of NITI Aayog, used remote sensing and Geographic Information Systems (GIS) technologies to assess the suitability of agroforestry practices across all districts of India.
ii.The report includes Agroforestry Suitability Index (ASI) for national-level prioritisation, using thematic datasets.
Key Points:
i.The report offers a comprehensive state-wise and district-wise analysis and
provides insights to government departments and industries involved in greening and restoration projects.
ii.This also highlights the potential of converting underutilized areas such as wastelands, into productive agroforestry zones.
Key Points:
i.Agroforestry covers 8.65% of India’s total area, approximately 28.42 million hectares.
ii.Report GROW initiative aligns with national goal to restore 26 million hectares of degraded land by 2030, creating carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent.
iii.Approximately 16.96% of the Total Geographical Area (TGA) is wasteland, requiring transformation for productive use.
iv.India, the pioneer of the National Agroforestry Policy in 2014, aims to enhance productivity, profitability, and sustainability through agroecological land use system.

• These efforts are in alignment with global commitments such as the Paris Agreement, Bonn Challenge, United Nations Sustainable Development Goals (UN-SDGs), United Nations Convention on Combating Desertification (UNCCD), Doubling Farmers’ Income initiative, Green India Mission, among others.

About NITI Aayog(National Institution for Transforming India):
Chairperson– Prime Minister of India (Narendra Modi)
Chief Executive Officer (CEO)– B.V.R. Subrahmanyam
Headquarters– New Delhi, Delhi
Establishment– 2015

Unemployment rate dips to 6.5% in Q3FY24: 21st Quarterly PLFS by NSSO The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation (MoSPI) released its 21st quarterly Periodic Labour Force Survey (PLFS) bulletin for October-December 2023 (Q3FY24).
i.As per it, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.5% during Q3FY24 which is the lowest level in over 4 years.
ii.It was 6.6% in Q2FY24, and 7.2% in Q3FY23.
iv.At all India level, Labour Force Participation Rate (LFPR) in CWS increased to 49.9% (Q3FY24) from 48.2% in Q3FY23.
About Ministry of Statistics and Programme Implementation (MoSPI):
Minister of State (Independent Charge)– Rao Inderjit Singh (Constituency- Gurugram, Haryana)
Secretary– DR. G P Samanta

Mirae Asset Launches 2 Passive Smallcap Funds; India’s 1st Multi Factor-based ETF on Nifty Smallcap250 Index Mirae Asset Mutual Fund launched 2 passive smallcap funds namely ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 Exchange Traded Fund (ETF)’ and ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund-of-Fund(FoF)‘.

• These are India’s 1st multi-factor-based ETF on the Nifty Smallcap 250 Index which aim to provide investors with sector-agnostic exposure within the smallcap category, employing a unique blend of factors for wealth creation.

About Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF:
i.It is an open-ended scheme that replicates the Nifty Smallcap 250 Momentum Quality 100 Total Return Index.
ii.Investment Objective: To generate returns, before expense, in alignment with the performance of the Nifty Smallcap 250 Momentum Quality 100 Total Return Index, subject to tracking error.
iii.The scheme’s New Fund Offer (NFO) opens on 12 February 2024 and will close on 21 February 2024, and re-opens for continuous Sale and Repurchase from 26 February 2024.
About Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF:
i.Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund-of-Fund is an open-ended fund-of-fund scheme investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.
ii.Investment objective: To provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.
iii.The NFO opens on 15th February 2024 and closes on 28th February 2024 and re-opens on 4th March 2024.
Points to Note:
i.There is no guarantee that the schemes will achieve their investment objectives.
ii.Index Tracking: Both schemes benchmark the Nifty Smallcap 250 Momentum Quality 100 Total Return Index (TRI).

• Both schemes will be managed by the fund managers Ms. Ekta Gala and Mr. Vishal Singh.

Minimum Investment:
i.The minimum initial investment during the NFO for both schemes is Rs 5,000, with multiples of Re 1 thereafter.
ii.An additional purchase amount of a minimum of Rs.1000 is an added feature of the Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF.

• It also includes the investment option of a Systematic Investment Plan (SIP) amount.

About Mirae Asset Investment Managers (India) Pvt. Ltd:
Chairman and Independent Director– Yogesh Chadha
Vice-Chairman and CEO– Swarup Anand Mohanty
Headquarters– Mumbai, Maharashtra
Started Operations in– 2008
It is the Asset Management Company (“AMC”) of Mirae Asset Mutual Fund.

REC & DVC Join Hands for Infra & Energy Projects in the Damodar Valley
REC Limited (formerly Rural Electrification Corporation Limited) has signed agreements worth Rs. 588 crores with Damodar Valley Corporation (DVC),  a Public Sector Enterprise (PSE) under the Ministry of Power (MoP), to strengthen infrastructure and energy projects in the Damodar Valley region (West Bengal and Jharkhand).

• This agreement includes a Term Loan agreement, an Escrow agreement, and Hypothecation deeds.
• Tubed coal mines will also be developed as part of the agreement.
• The agreement was signed in the presence of S. Suresh Kumar, Chairman and Managing Director(CMD) of DVC.

Note: REC is a ‘Maharatna‘ Central Public Sector Enterprise (CPSE) under the MoP, and is registered with the Reserve Bank of India (RBI) as a Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).

CCI Approval on 13th February 2024The Competition Commission of India (CCI) has approved the following on 13th February 2024.
Acquisition of Tianish Laboratories by Matrix Pharma
CCI has approved the Karachi (Pakistan) based Matrix Pharma Private Limited (Acquirer)  to acquire 100% paid-up share capital in Hyderabad (Telangana) based Tianish Laboratories Private Limited (Target).

• The target is a manufacturer of active pharmaceutical ingredients whereas the acquirer is an inactive company.
• The funding for the acquisition will be generated by the Acquirer by allowing two investors to subscribe to certain optionally convertible debentures of the Acquirer. The two investors are:
• Investor 1: Kotak Strategic Situations India Fund II which is an Alternative Investment Fund (AIF) registered with the Securities and Exchange Board of India (SEBI) under the SEBI (AIF) Regulations, 2012.
• Investor 2: Kotak Alternate Asset Managers Limited acts as an investment manager involved in activities like managing and advising funds.

Acquisition of Coastal Energen by Dickey Alternative Investment Trust and Adani Power
CCI has approved Ahmedabad (Gujarat) based Adani Power Limited (APL) and Gurugram (Haryana) based Dickey Alternative Investment Trust (DAIT) to jointly acquire 100% paid-up share capital in Chennai (Tamil Nadu) – based Coastal Energen Private Limited (CEPL).

• APL is a leading private-sector thermal power producer in India & DAIT is a category II AIF registered with SEBI.
• CEPL is a Coal-based power plant which owns and operates an imported coal-based thermal power plant at Tuticorin, Tamil Nadu.
• CEPL is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (I&B Code).

About Competition Commission of India (CCI):
Chairperson – Ravneet Kaur
Headquarters – New Delhi, Delhi
Established in – 2003(Operational from 2009)

India Hands over Chess Olympiad Torch to Hungary
India has officially handed over the Chess Olympiad torch to Hungary, which is set to host the 45th edition of the Chess Olympiad 2024 from 10th to 23rd September 2024 in Budapest, Hungary.

• The handover ceremony was held at Major Dhyan Chand National Stadium in New Delhi, Delhi, on 14th February 2024.
• The ceremony was attended by Union Minister for Youth Affairs and Sports Anurag Thakur, Grandmaster Viswanathan Anand(India),  International Chess Federation (FIDE) president Arkady Dvorkovich, and GM Judit Polgar (Hungary).
• The torch handover ceremony also kicked off the 100th anniversary celebration of FIDE, which was established in 1924.

Note:
India hosted the 44th FIDE Chess Olympiad 2022 in Mahabalipuram (Tamil Nadu) in 2022.

UWW Lifts Wrestling Federation of India’s Suspension
The United World Wrestling(UWW) has lifted the suspension on the Wrestling Federation of India(WFI) with immediate effect on 13th February 2024.

• WFI was suspended in August 2023 due to a delay in elections in the organisation.
• While lifting the ban, UWW has instructed WFI to conduct the elections of its Athletes’ Commission before the 1st of July 2024.
• Written guarantees are to be provided to UWW regarding no discriminatory action against the protested wrestlers.
• Indian wrestlers can now compete in international competitions under the Indian flag after previously competing as ‘neutral athletes’ under the UWW flag during the ban.

International Epilepsy Day 2024- February 12 International Epilepsy Day is annually observed across the globe on the 2nd Monday in February to raise awareness about epilepsy, a neurological disorder, its condition, diagnosis, and treatment.

• International Epilepsy Day 2024 is observed on 12 February 2024.

International Epilepsy Day 2023 was observed on 13 February 2023; In 2025, it will be observed on 10 February 2025.

• The 2024 theme of International Epilepsy Day is, “Milestones on My Epilepsy Journey.”

The campaign of International Epilepsy Day 2024 is, “#MyEpilepsyJourney.”
Background:
i.International Epilepsy Day, established in 2015, is a collaborative initiative by the International Bureau for Epilepsy (IBE) and the International League Against Epilepsy (ILAE).
ii.The 1st ever International Epilepsy Day was observed in 2015.
About International League Against Epilepsy (ILAE):
President– J. Helen Cross
Headquarters– Dundrum, Ireland
Founded in– 1909

World Radio Day 2024 – February 13  The United Nations (UN) World Radio Day (WRD) is annually observed across the globe on 13 February to celebrate Radio as a powerful and low-cost medium and to promote its role in fostering international collaboration among broadcasters.

• 13 February 2024 marks the observance of the 13th WRD.

The theme of World Radio Day 2024 is “Radio: A century informing, entertaining and educating”.
Points to note:
On the occasion of WRD 2024, Union Minister Anurag Singh Thakur, Ministry of Information and Broadcasting (MIB) unveiled revised policy guidelines to enhance the setup of Community Radio Stations (CRS) in India.
About Ministry of Information and Broadcasting (MIB):
Union Minister– Anurag Singh Thakur (Constituency: Hamirpur, Himachal Pradesh)
Minister of State– L. Murugan (Rajya Sabha – Madhya Pradesh)

Goa CM presents Rs 26,850.56 cr Budget for FY25; No New Taxes ImposedThe Chief Minister (CM) of Goa Pramod Sawant, who also holds the finance portfolio of the state, presented Rs 26,850.56 crore budget for Financial Year 2024-25 (FY25) with no additional taxes at the Goa State Legislative Assembly Complex in Porvorim, Bardez in Goa. It was his 5th budget.
i.The Gross State Domestic Product (GSDP) for FY25 is projected at Rs 1,21,309.02 crore at current prices with a growth rate of 13.87% as compared to FY24 and a Per Capita Income of Rs 7.64 lakh
ii.This budget’s focus is on improving infrastructure to boost tourism, IT (Information Technology) and employment.
About Goa:
Chief Minister– Pramod Sawant
Governor– P. S. Sreedharan Pillai
National Park– Mollem National Park
Wildlife Sanctuary – Bhagwan Mahavir Wildlife Sanctuary, Cotigao Wildlife Sanctuary

Odisha Declared Gupteswar Forest as its 4th Biodiversity Heritage SiteThe Odisha government has declared the Gupteswar forest in Koraput district as its fourth Biodiversity Heritage Site (BHS).

• The three other BHS sites in Odisha are Mandasaru in Kandhamal district, Mahendragiri in Gajpati district, and Gandhamardan in Bargarh and Bolangir districts.

193rd Meeting of ESIC held in New Delhi; Extends Benefits to Superannuated Insured Persons with Relaxed NormsOn February 10, 2024, the 193rd Meeting of Employees’ State Insurance Corporation (ESIC) was held in New Delhi, Delhi under the chairmanship of Union Minister Bhupender Yadav, Ministry of Labour and Employment (MoLE), and Chairman of ESIC.

• During the meeting, Union Minister also released the book on HR (Human Resource) Norms of the ESIC.
• ESIC adopted the Revised Estimates 2023-24, Budget Estimates 2024-25, and Performance Budget 2024-25 during the meeting.

Key People:
i.Union Minister of State (MoS) Rameswar Teli, MoLE attended the meeting as Vice-Chairman of ESIC.
ii.Arti Ahuja, Secretary, MoLE, Dr. Rajendra Kumar, Director General, ESIC, officials from state governments, representatives of Employers, Employees and experts in the medical field participated in the meeting.
Medical Benefits to be extended to superannuated Insured Persons with relaxed norms
During the meeting,ESIC  approved the proposal to provide Medical Benefit for insured superannuating workers leaving the ESI Scheme due to exceeding the wage ceiling, if the worker was under insurable employment for at least 5 years before superannuation/voluntary retirement.

• Workers who superannuated/voluntarily retired on or after April 1, 2017, with wages up to Rs 30,000 per month, having worked for at least 5 years after April 1, 2012, will also be benefitted under the scheme.

Other noted Decisions:
i.ESIC relaxed the norms of for establishment of dispensaries, medical infrastructure / Regional / Sub Regional Offices in North-Eastern(NE) states (including Sikkim) to enhance the service delivery mechanism in NE states to achieve the vision of Act East Policy.
ii.ESIC adopted the new Policy on AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) 2023 in ESIC institutions to promote holistic well being of the ESI beneficiaries,

• This details the establishment of Panchkarma, Kshara Sutra and AYUSH Units in ESIC Hospitals.

iii.ESIC extends concessions/facilities for non-IPs(Insured Person) to avail ESI healthcare services at “Nil” user charges at ESIC Medical Colleges and Hospitals at Alwar, Rajasthan and Bihta, Bihar, till March 31, 2025.
iv.ESIC approved the acquisition of lands for construction of 100 bedded hospitals each at Udupi, Karnataka; Idukki, Kerala and 150 bedded hospital at Malerkotla, Punjab.
About Employees’ State Insurance Corporation (ESIC):
Director General– Dr. Rajendra Kumar
Parent Ministry– Ministry of Labour and Employment
Headquarters– New Delhi, Delhi
Establishment– 1952

India & Russia Signed Agreement to Strengthen Bilateral Nuclear CooperationIndia and Russia signed a protocol to amend the 2008 intergovernmental agreement focusing on cooperation in constructing additional nuclear reactors at the Kudankulam Nuclear Power Project (KKNPP) site and new Russia-designed nuclear power plants at new sites in India.

• The KKNPP in Tirunelveli, Tamil Nadu(TN) is a joint initiative of India and Russia. This is a flagship project of bilateral technological and energy cooperation.

Signatories: Alexey Likhachev, Director General of Rosatom State Nuclear Energy Corporation (Russia), and Ajit Kumar Mohanty, Chairman of the Atomic Energy Commission (AEC) of India and Secretary of the Department for Atomic Energy (DAE) of the Government of India, signed the agreement during their visit to KKNPP site in TN.
Negotiation:
On February 7-8, 2024, the Russian Ambassador to India Denis Alipov took part in the negotiations between Dr Alexey Likhachev, and Dr Ajit Kumar Mohanty.

• Bhuvan Chandra Pathak, Chairman and Managing Director (CMD) of Nuclear Power Corporation of India, was also present.

Points to note:
i.The negotiations resulted in the signing of a significant document under the joint Russian-Indian project, namely, A protocol to the intergovernmental agreement on the construction of power units for the 2nd and 3rd stages of the KKNPP in 2008.
ii.During the visit, the Russian delegation involved an assessment of power units in the 2nd and 3rd stages, including reactors 3–6.
iii.The delegation also addressed ongoing construction tasks for Units 3-6, emphasizing long-term cooperation, including potential collaboration within Brazil, Russia, India, China, and South Africa (BRICS).
iv.Apart from construction of nuclear power plant, the Rosatom State Corporation organises the delivery of reliable nuclear fuel for water-water energetic reactor (VVER)-1000 to India. This will enhance the operating efficiency through the utilisation of extended fuel cycles.
Note: The Russian nuclear energy agency has successfully built two 1,000 megawatts (MW) VVER at the KKNPP site, with plans for 4 more of similar capacity.

• VVER is a thermal neutron reactor with pressurized water used both as a coolant and moderator.

Kudankulam Plant Development:
i.India’s only nuclear power plant established with another country (Russian technical support) is the KKNPP in Tamil Nadu.
ii.The bilateral cooperation is guided by the new roadmap for Science, Technology, and Innovation signed during the 21st India – Russia Annual Summit in New Delhi (Delhi) in December 2021.

MoH&FW Minister Mansukh Mandaviya launches AIIMS-SBI SMART Payment Card in AIIMS, New DelhiOn February 13, 2024, the Union Minister Dr Mansukh Mandaviya, Ministry of Health & Family Welfare (MoH&FW) launched AIIMS-SBI Smart Payment Card to provide hassle-free payments for treatment at the All India Institute of Medical Sciences (AIIMS).

• Initially the card is launched for AIIMS, New Delhi. Its services will be extended across all the AIIMS in India in future.
• The validity of the card is 5 years with effect from the date of issue.

Points to note:
i.During the event, SBI and AIIMS signed a Memorandum of Understanding (MoU) for the implementation of the AIIMS-SBI SMART Payment card.
ii.This card is regarded as the “One AIIMS, One Card”.
Key Points:
i.The AIIMS Smart Payment Card resolves the issue of patients carrying cash to the hospital.
ii.This will enable the patients or their caretakers to get the card from facilitation centers at AIIMS, New Delhi, and use it for payments at hospital counters.
iii.The card will be provided free of cost to all patients and has no service charges.
iv.It will be linked to the patient’s Unique Hospital Identification (UHID) number and Ayushman Bharat Health Account (ABHA) ID issued under the Ayushman Bharat Digital Mission (ABDM).
v.Top-ups and refunds require One Time Password (OTP) verification received on the mobile linked to the patient UHID.
vi.If the cost is lost, a replacement card will be provided free of cost and the remaining balance will be transferred to the new card.

MoRD launched Unique Land Parcel Identification Number
The Secretary of the Department of Land Resources (DLR), under the Ministry of Rural Development (MoRD), Nidhi Khare has launched the Unique Land Parcel Identification Number (ULPIN) in an event held in Darrang district of Assam.
About ULPIN:
i.ULPIN can be described as the AADHAR or fingerprint for land.
ii.It is a 14-digit alphanumeric identification number allotted to every land parcel.
iii.The land is given with a unique blockchain ID and it is identified by the longitude and latitude of the land parcel using ULPIN from Bhu-naksha.

• Bhu-naksha is cadastral mapping software developed by National Informatics Centre (NIC).

iv.ULPIN aims to ensure uniqueness in all transactions, maintain spatial records, facilitate linking of property transactions, and eliminate fraudulent activities.

IOB celebrates 88th Foundation Day; Launches new Rupay Credit Card & CASA variantsIndian Overseas Bank (IOB), a public sector bank, celebrated its 88th Foundation day on 10th February 2024 in Chennai, Tamil Nadu. IOB launched various new products and announced the opening of 88 new branches across India.

• IOB launched 3 new RuPay credit card variants: IOB RuPay Classic, IOB RuPay Platinum, and IOB RuPay Select.
• IOB also launched Freedom Current Account and Saving Account (CASA) variant.

Background:
i.IOB was founded on 10th February 1937 by  M.Ct.M. Chidambaram Chettyar. IOB stated operation in Karaikudi, Chennai and Rangoon, Burma (presently Myanmar) and Penang, Malaysia.
ii.It was one of the 14 banks that were nationalized in 1969.
About Rupay Credit Card Variants:
i.RuPay Classic: It offers reward points and benefits
ii.RuPay Platinum: It offers reward points and benefits, and includes personal accident coverage of up to Rs 10 lakhs
iii.RuPay Select: It includes a debit card that provides access to lounges in domestic and international airports, free gym subscriptions, free health checks, free golf lessons, and spa services
Freedom CASA variant:
Freedom Savings and Current Account variants with modest annual fee has features like zero fee on essentials. This also has no minimum balance requirement.
Other Noted Launches:
Digital Document Execution:
i.IOB introduced Digital Document Execution (DDE) to enable seamless online locker agreements.
ii.This ensures online execution of agreements through the Digital Document Execution platform by the National E-Governance Services Ltd (NeSL).
Green Deposit Scheme:
i.IOB also also introduced Green Deposit Scheme under Retail Term Deposits to promote Green Finance Eco System in India.
ii.The tenor of the deposit will be 999 days with an interest rate of 6.85% (5 bps higher than regular term deposits) with effect from February 10, 2024.
iii.Senior citizens (aged 60 years and above) and super senior citizens (aged 80 years and above) will receive additional interest rates of 0.50% and 0.75% respectively above the card rates.

GoI to honour PV Narasimha Rao, Chaudhary Charan Singh & MS Swaminathan with Bharat RatnaGovernment of India (GoI) announced that two former Prime Ministers(PMs), Chaudhary Charan Singh and PV Narasimha Rao, and father of India’s ‘green revolution’ Dr MS Swaminathan will be awarded Bharat Ranta in 2024.

• With this, the total number of Bharat Ratna receipient in 2024 becomes five. This is the highest number of Bharat Ratnas awarded in a year since its inception in 1954.

Note: In January 2024, GoI announced Bharat Ratna for Former Deputy Prime Minister Lal Krishna (LK) Advani and Former Bihar Chief Minister Karpoori Thakur (posthumously).
About Ministry of Home Affairs:
Union Minister– Amit Shah (Constituency- Gandhi Nagar, Gujarat)
Ministers of State– Nityanand Rai (Constituency- Ujiarpur, Bihar); Ajay Kumar Mishra (Constituency- Kheri, Uttar Pradesh); Nisith Pramanik (Constituency- Coochbehar, West Bengal)

Sportstar Aces 2024: Neeraj Chopra and Sheetal Devi win Sportstar of the YearIndian Olympian Neeraj Chopra was awarded the Sportstar of the Year (Male) award at the 2024 Sportstar Aces Awards held at the Taj Mahal Hotel in Mumbai, Maharashtra.

• Indian paraarcher Sheetal Devi won the Sportstar Aces Award for the Sportstar of the Year (female). She also won the moment of the year award.
• The 6th edition of the Sportstar Aces awards were awarded in 24 categories which includes 5 Popular Choice and 16 Jury Awards.
• The 2024 Australian Open men’s doubles champion and 2024 Padma Shri awardee Rohan Bopanna was awarded the ‘Ace of Aces award’.

Japan’s Mizuho Bank & its Subsidiary Set to Acquire 15% stake in Credit Saison India for Rs 1,200 crore
Japan’s Mizuho Bank Limited (a subsidiary of Mizuho Financial Group, Inc.) and a subsidiary of Mizuho Bank is set to invest upto Rs.1200 crore in Bengaluru (Karnataka) based Kisetsu Saison Finance (India) Private Limited by acquiring about 15% of their paid-up share capital.

• The investment plan was agreed by both Mizuho Bank and Credit Saison Company Limited.
• This is Credit Saison’s first investment from an external investor.
• Mizuho Bank will be represented in Credit Saison by one of their directors.

C-DOT and IIT Roorkee Collaborate to Develop Module for 6G and Beyond
New Delhi (Delhi) Headquartered Centre For Development Of Telematics (C-DOT) and Indian Institute of Technology, Roorkee (Uttarakhand), have signed an agreement to develop a 140 GigaHertz (GHz) Fully Integrated Transmitter & Receiver Module for 6th Generation (6G) Cellular technology and Beyond.

• The agreement also aims to generate, antenna integrate and transmit TeraHertz (THz) waves onto a single chip which supports data rates of up to several gigabits per second.
• The agreement was signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications (DoT) under the Ministry of Communications (MoC).

Note: C-DOT is an autonomous Research & Development (R&D) centre of DoT.

Google launches ‘Lumiere’ AI to Generate 5-Second Videos
Google has introduced a new video-generation Artificial Intelligence (AI) model ‘Lumiere’, a Space-Time Diffusion Model to generate 5-second videos that portray realistic, diverse and coherent motion.

• It deploys a text-to-video diffusion model for generating videos from text descriptions.
• It also supports image-to-video, Stylized Generation, Video Stylization, Cinemagraphs & Video Inpainting.
• For this purpose, Lumiere uses Space-Time-U-Net (STUNet) architecture that generates the entire temporal duration of the video at once, through a single pass in the model.

Renowned Geneticist & Padma Shri Awardee I.C. Verma Passed AwayThe renowned specialist in genetic medicine and Padma Shri recipient Ishwar Chander Verma (I.C. Verma) passed away. He was born on 25th December 1936.
Padma Shri Award:
i.In 2023, I.C.Verma was conferred with the Padma Shri (the fourth-highest civilian honour) in the field of Medicine.
ii.The award was given for his effort in

• Setting up the first Genetic centre in India at All India Institute Of Medical Science (AIIMS) in 1968.
• Conducting research on the decline in the population of the Onge Tribe in Andaman & Nicobar(A&N) Islands.

About Ishwar Chander Verma:
i.I.C.Verma started his career as a professor of paediatrics and the head of the genetic department at AlIMS in New Delhi, Delhi in 1967.
ii.He served as an adviser in genetics to the World Health Organization (WHO) Regional Office for South-East Asia (SEARO).
iii.He was a member & an Ex-Vice-chairman of the Ethics Committee of the International Human Genome Organization (HUGO). 
iv.He also served as the head of the Indian Society of Human Genetics (ISHG).
v.He was a part of several Committees of the Ministry of Health & Family Welfare (MoH&FW), Indian Council of Medical Research (ICMR) and Department of Biotechnology(DBT) under the Ministry of Science & Technology (MoS&T).
Other Recognition:
i.He was mentioned in the Limca Book of Records 2003 as a pioneer in genetics in India.
ii.He also received the BC Roy National Award in 1983, the Indian Council of Medical Research (ICMR) award, the National Academy of Medical Sciences (NAMS) award, etc.

International Day for the Prevention of Violent Extremism as and When Conducive to Terrorism 2024- February 12 The United Nations (UN) International Day for the Prevention of Violent Extremism as and When Conducive to Terrorism (PVE Day) is annually observed across the globe on 12 February to raise awareness of the threats linked to violent extremism as and when conducive to terrorism and to enhance international cooperation.

• 12 February 2024 marks the observance of the 2nd International PVE Day.

Background:
i.On 20 December 2022, the United Nations General Assembly (UNGA) adopted the resolution A/RES/77/243. It declared the 12 February of every year as International Day for the Prevention of Violent Extremism as and When Conducive to Terrorism.
ii.The 1st ever International PVE Day was observed on 12 February 2023.
About United Nations Alliance of Civilizations (UNAOC):
High Representative for the UNAOC– H.E. Mr. Miguel Ángel Moratinos
Headquarters– New York, the United States of America
Established in 2005

National Productivity Day 2024 – February 12National Productivity Day or National Productivity Council Foundation Day is annually observed across India on 12th February to mark the foundation day of the National Productivity Council of India (NPC) and raise awareness of productivity, efficiency, and innovation.

• National Productivity Day is celebrated as part of National Productivity Week, which is observed annually from 12th to 18th February.

The theme for National Productivity Week 2024 is ‘Artificial Intelligence (AI)- Productivity Engine for Economic Growth’.
Background:
i.The National Productivity Council was established on the 12th of February, 1958.
ii.It was registered under the Societies Registration Act XXI of 1860 under the Department for Promotion of Industry Trade (DPIIT), Ministry of Commerce and Industry (MoCI). 
About National Productivity Council of India (NPC): 
President – Piyush Goyal (Union Minister of Commerce and Industry)
Headquarters- New Delhi, Delhi
Established in – 1958

International Darwin Day 2024 – February 12 International Darwin Day is annually observed across the globe on 12 February to commemorate the birth anniversary of Charles Robert Darwin, a 19th-century British Naturalist, Geologist who was credited with “The Theory of Evolution by Natural Selection”.The day recognises Darwin’s contributions to science and promotes scientific development.
Background:
The annual observance of  International Darwin Day was initiated by 3 Darwin enthusiasts namely: Dr. Robert Stephens, Prof. Massimo Pigliucci, and Amanda Chesworth.

Cabinet Approvals on 8th February 2024The Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following schemes and initiatives on 8th February 2024
i.The cabinet approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY), a Central Sector sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
ii.The Cabinet approved the extension of the Fisheries Infrastructure Development Fund (FIDF) for the next three years up to 2025-26 within the approved fund of Rs 7522.48 crore and budgetary support of Rs 939.48 crore.
iii.The Cabinet has approved the auction in eight spectrum bands for mobile phone services at a base price of Rs 96,317 crore to improve the quality of telecom services and coverage for consumers.
iv.The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Modi has approved six railway projects worth Rs. 12,343 crores with 100% funding from the Central Government.
About Ministry of Fisheries, Animal Husbandry and Dairying: 
Union Minister– Parshottam Rupala(Rajya Sabha- Gujarat)
Minister of State (MoS)– Sanjeev Kumar Balyan(Constituency- Muzaffarnagar, Uttar Pradesh); L. Murugan(Rajya Sabha – Madhya Pradesh)

GoI Launched SWATI, 1st-of its kind Portal for Women in STEMMOn 11th February 2024, Ajay Kumar Sood, Principal Scientific Advisor to the Government of India (GoI) launched ‘Science for Women: A Technology and Innovation (SWATI) Portal(https://swati.nipgr.ac.in/), India’s 1st-of-its-kind interactive online portal on Indian women in STEMM (Science, Technology, Engineering, Mathematics & Medicine).

• The portal was launched on the occasion of International Day of Women and Girls in Science 2024 at the Indian National Science Academy (INSA), New Delhi, Delhi.

About SWATI portal:
i.SWATI portal was developed, hosted and maintained by the National Institute of Plant Genome Research (NIPGR).
ii.SWATI portal is an initiative by the Inter Academy Panel of India (IAP) on Women in STEMM.
iii.The portal was funded by Department of Biotechnology(DBT), Ministry of Science and Technology(MoST).
Note: IAP is constituted jointly by 3 science academies Indian Academy of Sciences (IASc)(Bengaluru, Karnataka); National Academy of Sciences India (NASI) (Prayagraj, Uttar Pradesh) and INSA (New Delhi, Delhi).
Objective of SWATI:
i.To include every Indian Women in Science (WiS), career stages, subjects, spanning both Academia and the Industry.
ii.To enable a reliable and long term research on the issues of equality, diversity and inclusivity in India,
iii.To develop an active search engine and searchable database (Name, Affiliation, Area of Interest).
Key Points:
i.The portal will provide a platform to view the expertise and contributions of Indian Women in STEMM.
ii.The database of SWATI Portal will serve in policy making to address the challenges of Gender-gap.
Features:
i.The portal includes sections like Icons – Awardees (Padma / Shanti Swarup Bhatnagar / Stree Shakti Science Samman) & Directors, Secretaries Academy Presidents etc.,.
ii.At present, 3000 ‘WiS Data Cards’ are incorporated in the portal.
About the Event:
i.The event was organised with a focus on the importance of “Science for Women & Women in Science”.
ii.This offers a platform to discuss and evolve a roadmap for ‘Women in Science’ & ‘Science for Women’.
Key People: Subhra Chakraborty, Director of NIPGR; Quarraisha Abdool Karim, President of Third World Academy of Sciences (TWAS); Balram Bhargava, President, NASI; Umesh V Waghmare President, IASc; Ashutosh Sharma, President, INSA participated in the event.

DARPG releases NeSDA Way Forward Annual Report for 2023The Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry of Personnel, Public Grievances and Pensions has unveiled the National e-Governance Service Delivery Assessment (NeSDA) Way Forward Annual Report 2023.

• The report showcases the substantial progress made by States, Union Territories (UTs) and seven sectors during 2023 in the mandatory e-Services and total e-Services under the NeSDA Framework.

About Ministry of Personnel, Public Grievances and Pensions:
Union Minister– Narendra Modi  (Constituency: Varanasi, Uttar Pradesh)
Minister of State– Dr. Jitendra Singh (Constituency: Udhampur, Jammu and Kashmir)

Prabhaav: SIDBI unveils the CRISIL study on impact of Fund of Funds on Startup EcosystemOn February 9, 2024, the Small Industries Development Bank of India (SIDBI) has unveiled the CRISIL’s impact assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘.
i.As of November 30, 2023, 129 Alternative Investment Fund (AIF) were sanctioned out of FFS across various segments.
ii.Investments of approximately 4 times the drawn amount, totaling Rs 17,534 crore, have been made in 938 startups, showcasing a significant multiplier effect of FFS.
About Small Industries Development Bank of India (SIDBI):
Chairman & Managing Director– Sivasubramanian Ramann
Headquarter– Lucknow, Uttar Pradesh
Establishment– 1990

DEA & ADB Signed USD 200 Million Loan for FRERM Project in AssamThe Department of Economic Affairs (DEA) of Ministry of Finance (MoF) and Asian Development Bank (ADB) has signed a USD 200 million loan agreement (Ordinary Operations) for the ‘Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion Risk Management(FRERM) Project in Assam’. 
Signatories:
The loan agreement was signed by Juhi Mukherjee, Joint Secretary, DEA, MoF, for the Government of India (GoI), and Hoe Yun Jeong, Deputy Country Director of ADB’s India Resident Mission, for ADB.
About FRERM project:
i.The project to strengthen flood and riverbank erosion risk management along the 650-kilometer (km) long main stem of the Brahmaputra River in Assam.
ii.The Project activities will be led, managed, and coordinated by the Flood and River Erosion Management Agency of the Assam (FREMAA).
iii.The Water Resources Department of the Government of Assam will implement the works and the Assam Agroforestry Development Board will use nature-based solutions.
iv.This project will benefit around 1 million people and increase crop production in more than 50000 hectares.
About the Loan:
i.The Loan has a principal repayment period of 15 years.
ii.The interest of the loan will be the sum of Secured Overnight Financing Rate (SOFR) and 0.6% of Proceeds of the loan withdrawn & 0.10% of expenditure to be financed out of proceeds of the loan.

• These interest will be paid semi-annually on 15th March and 15th September annually.

iii.The closing date of the loan shall be 31st March 2030 or such other date agreed by ADB and GoI.
iv.The loan will be provided from ADB’s ordinary capital resource.
v.The loan was approved by ADB in October 2023.
About Asian Development Bank (ADB): 
President– Masatsugu Asakawa
Headquarters– Mandaluyong City, Metro Manila, Philippines
Established in– 1966
Members – 68 members (49 from the region)

India Extends UPI Service in Sri Lanka and MauritiusNarendra Modi, Prime Minister (PM) of India, along with Mauritius PM Pravind Kumar Jugnauth and Sri Lankan President Ranil Wickremesinghe, virtually launched India’s Unified Payments Interface (UPI) in Mauritius and Sri Lanka.

• In addition to the UPI, the RuPay card service was also launched in Mauritius.
• The UPI and RuPay card projects were developed and executed by NPCI International Payments Limited (NIPL) along with partner banks / non-banks from Mauritius and Sri Lanka, under the guidance and support of the Reserve Bank of India..
• The list of countries that accept UPI payments are Bhutan, France, Mauritius, Singapore, Sri Lanka, and the United Arab Emirates(UAE).

About National Payments Corporation of India (NPCI):
Managing Director (MD) & chief executive officer (CEO)– Dilip Asbe
Headquarters– Mumbai, Maharashtra
Incorporated in 2008

RBI raises wage ceiling for NEDs of banks to Rs 30 lakh; Permits Indian Banks in GIFT-IFSC for Bullion Exchange Trading and SCC StatusOn February 9, 2024, the Reserve Bank of India (RBI), in exercise of powers conferred by Section 35B of the Banking Regulation (BR) Act, 1949, has increased the remuneration ceiling of Non Executive Directors (NEDs) of banks from Rs 20 lakh per annum to Rs 30 lakh with immediate effect.
i.RBI has permitted the branches of Indian banks in GIFT–IFSC (Gujarat International Finance Tec-City  International Financial Services Centre) to act as a Trading Member/Trading and Clearing Member (TM/TCM) of India International Bullion Exchange IFSC Ltd (IIBX).
ii.On February 5, 2024, RBI, has cancelled the licence of Jai Prakash Narayan Nagari Sahakari Bank Ltd., Basmathnagar, Maharashtra. With effect from February 6, 2024, The bank ceases to carry on banking business as defined in Section 5(b) read with Section 56 of BR Act, 1949.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

LIC Increases Its Stake in SBI Cards to 5.02%
Life Insurance Corporation of India (LIC) has increased its paid-up share in SBI Cards & Payments Services Limited to 5.02% from 4.99%.

• For this purpose, LIC has made Open Market Purchases of about 3,01,084 shares of SBI Cards with an average cost of Rs.716 per share.
• The total shares of LIC have increased to 47,711,794 from 47,410,710.

About SBI Cards & Payments Services Limited:
SBI Cards & Payments Services Limited is a Joint Venture(JV) between the State Bank of India (SBI) and Carlyle Group.
Managing Director (MD) & Chief Executive Officer (CEO) – Abhijit Chakravorty
Headquarters – Gurugram, Haryana
Established in – 1998

Mahindra Defence & Embraer Defense Collaborated for IAF’s MTA Project 
Mahindra Defence Systems Limited and Brazil-based Embraer Defense & Security have signed a Memorandum of Understanding (MoU) for the Medium Transport Aircraft (MTA) procurement project of the Indian Air Force (IAF) in New Delhi, Delhi.

• As per the MoU, both firms will be jointly developing C-390 Millennium multi-mission aircraft which will be procured by IAF.
• The C-390 Millennium is the most advanced military airlifter in the market which can carry a payload of about 26 tonnes
• It flies at a speed of about 870 km/h (470 knots).
• C-390 Millennium finds its application in areas such as transporting and dropping cargo and troops, medical evacuation, search and rescue, aerial firefighting, and humanitarian missions.
• In August 2023, Embraer held a C-390 Millennium Day in New Delhi, India to deepen engagement with the local aerospace industry.

Note: Mahindra Defence Systems Limited is completely owned by Mahindra & Mahindra Limited.

Trichoglossum Syamviswanathii: New Fungus Species Discovered in Kerala
Researchers from the Kerala Forest Research Institute (KFRI), Botanical Survey of India, and the University of Hyderabad have discovered a new fungus species, Trichoglossum Syamviswanathii in the moist soil of Bambusetum in Thrissur (Kerala) along the Western Ghats.

• The species belongs to the family Geoglossaceae (Ascomycota) and genus Trichoglossum.
• It is named after Syam Viswanath, renowned scientist and former director of KFRI.
• Trichoglossum is also known as “hairy earth tongues” fungus and plays a major role in the decomposition of organic matter.
• The discovery was published in the journal Persoonia: Molecular Phylogeny and Evolution of Fungi which was published by the National Herbarium of the Netherlands.

Australia Wins U19 Men’s Cricket World Cup by Defeating India at FinalsThe Australian Under-19 (U19) cricket team won the International Cricket Council (ICC) U19 Men’s Cricket World Cup (CWC) 2024 title defeating India in the finals held in Willowmoore Park stadium in Benoni, South Africa.

• The 15th edition of U19 Men’s CWC held from 19th January to 11th February 2024 was hosted by South Africa.

Highlights of U19-CWC 2024:
i.This marks Australia’s fourth ICC U19 Men’s World Cup title. Austraila previously won the title in 1988, 2002, and 2010.
ii.The Indian U-19 team was captained by Uday Sahara, and the Australian team was captained by Hugh Weibgen.
iii.This also marks India’s fifth consecutive final appearance in the U19 Men’s CWC, including in 2016, 2018, 2020, 2022, and 2024.
Awards:
i.Player of the Tournament – Kwena Maphaka(South Africa).
ii.Player of the Match(Final): Mahli Beardman(Australia).
iii.Leading run-scorer of the tournament – Uday Saharan (India) – 397 runs.
iv.Leading wicket-taker of the tournament – Kwena Maphaka (South Africa) – 21 wickets.
v.Highest score of the tournament – Snehith Reddy (New Zealand) – 147 runs against Nepal.
vi.Best bowling figures of the tournament – Taz Ali (England) – took 7 wickets & conceded 29 runs against Zimbabwe.
About U19 Cricket World Cup:
i.The first edition of the U19 Cricket World Cup event was held in 1988 as the Youth Cricket World Cup in Australia.
ii.TheICC U19 World Cup tournament has been conducted once every two years since its second edition in 1998.
iii.India has been the most successful team in the event, with five titles(2000, 2008, 2012, 2018, and 2022).

MoE & FIFA collaborates to Promote Football in Indian Schools
The Ministry of Education (MoE) has partnered with Fédération Internationale de Football Affiliation (FIFA) to promote football in schools across India by integrating football-related activities into the education system.

• The partnership aims to distribute 11 lakh footballs across India in a phased manner.
• Union Minister of  Education, Dharmendra Pradhan has distributed 6,848 footballs to schools in Odisha as part of the Footballs for Schools (F4S) programme.
• F4S is an ambitious programme run by FIFA, in collaboration with United Nations Educational, Scientific and Cultural Organization (UNESCO).
• The program is supported by the All India Football Federation (AIFF) and implemented by the Sports Authority of India (SAI).

International Day of Women and Girls in Science 2024- February 11 The United Nations (UN)’s International Day of Women and Girls in Science (IDWGIS) is annually observed across the globe on 11 February to promote full and equal access to and participation of women and girls in the fields of Science, Technology, Engineering, and Mathematics (STEM).
11 February 2024 marks the observance of the 9th International Day of Women and Girls in Science.

• The theme of IDWGIS 2024 is “Women and Girls in Science Leadership: A New Era for Sustainability”
• The subtheme of IDWGIS 2024 is “Think Science … Think Peace”.

Background:
i.On 22 December 2015, the United Nations General Assembly (UNGA) adopted the resolution A/RES/70/212 and proclaimed the 11 February of each year as the International Day of Women and Girls in Science.
ii.The 1st ever IDWGIS was observed on 11 February 2016.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General– Audrey Azoulay
Headquarters– Paris, France
Establishment– 1945 (came into force in 1946)

World Unani Day 2024- February 11 World Unani Day is annually observed across the globe on 11 February to commemorate the birth anniversary of social reformer and renowned Unani scholar Mohammad Ajmal Khan better known as Hakim Ajmal Khan, widely regarded as the pioneer of Unani medicine in India.

• The Day focuses on promoting the Unani system of medicine into the mainstream and focuses on the strengths of Unani and its unique treatment principles.

The theme of Unani Day 2024 is, “Unani Medicine for One Earth, One Health.”
Background:
i.To recognise the contributions of Hakim Ajmal Khan, the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy (AYUSH), the Government of India declared his birth anniversary (11 February of every year) as World Unani Day.
ii.The 1st ever World Unani Day was observed on 11 February 2017 at the Central Research Institute of Unani Medicine (CRIUM) in Hyderabad, Telangana.

• CRIUM, Hyderabad has been upgraded to the National Research Institute of Unani Medicine in Skin Disorders (NRIUMSD).

QCI & ONDC Launch DigiReady Certification Portal to Empower MSMEs & Small Retailers The Quality Council of India (QCI) and Open Network for Digital Commerce (ONDC) jointly introduced the DigiReady Certification (DRC) portal in a step towards fostering digital inclusion in the Micro, Small, and Medium Enterprises (MSME) sector.

• OCI in coordiation with ONDC aims to assess and certify the digital readiness of MSME entities.
• This is in line with the objectives of the Forum for Internet Retailers, Sellers, and Traders (First India).

About DRC Portal:
i.DRC is a online self-assessment tool for Digital Readiness developed by QCI.
ii.This enables MSME businesses and small retailers to evaluate their preparedness to seamlessly intergrate into the ONDC platform, using software and other technologies and expand their digial capabilities.
iii.It consists of 7 modules – Pre-requisite; Digital Infrastructure; Product Catalogue; Catalogue Management; Packaging; Payment; & Grievance Redressal – that are required to be self-assessed by the entities.
Certification Process:
The certification process evaluates various aspects of digital readiness, such as,

• Necessary documentation for online operations;
• Proficiency in using software and technology;
• Integration with existing digitised workflows; and
• Efficient management of orders and catalogue offerings.

About Quality Council Of India (QCI):
QCI is an autonomous organization under the Ministry of Commerce and Industry.
Chairman – Jaxay Shah
Headquarters– New Delhi, Delhi
Established in– 1997

Ministry of Education Launches APAAR in Remote Villages across India Ministry of Education (MoE) launched APAAR (Automated Permanent Academic Account Registry) through the Common Service Centres (CSCs) in remote villages of India.

• APAAR, conceptualized under the National Education Policy (NEP 2020), aims for ‘One Nation, One Student ID’.

Key People: APAAR was jointly launched by Sanjay Kumar, Secretary, Department of School Education and Literacy, MoE; K. Sanjay Murthy, Secretary, Higher Education, MoE; and Sanjay Rakesh, Managing Director (MD) & Chief Executive Officer (CEO) of Common Service Centre Special Purpose Vehicle (CSC SPV).
Points to Note:
i.APAAR mandates all college/university students to register on the Academic Bank of Credits (ABC) platform.
ii.Under the new policy, students must have an ABC ID to be admitted to any college or university.
iii.The suggestion to bring the ABC into education was given in the NEP 2020.
iv.APAAR ID allows future credit acquisition without the need for presenting certificates.
Note: APAAR ID will remain with the children for their entire lives.
Digital Integration for School Education:
i.All school children should be given provisional APAAR IDs, immediately authenticated with Aadhaar, and linked to Digi Locker.
ii.Consideration for a business model involving Village Level Entrepreneurs (VLEs), envisages enhanced transparency and ease in school and higher education.
About Academic Bank of Credit (ABC):
i.ABC is a digital repository or digital storage designed for students and they can easily access it through the nearest CSC.
ii.ABC has been established on the lines of the National Academic Depository (NAD).
iii.All credits (the marks) scored by the students and their personal information will be stored in ABC. Universities can retrieve student data with using the unique ABC ID.
About Ministry of Education:
Union Minister– Dharmendra Pradhan (Rajya Sabha- Madhya Pradesh)
Ministers of State– Annapurna Devi (Constituency: Kodarma,Jharkhand); Dr. Subhas Sarkar (Constituency: Bankura, West Bengal); Dr. Rajkumar Ranjan Singh (Constituency: Inner Manipur, Manipur)

World Defense Show 2024 Held in Riyadh, Saudi ArabiaThe 2nd edition of the World Defence Show (WDS 2024) was held in in Riyadh International Convention & Exhibition Center, Riyadh, Saudi Arabia from 4th to 8th February 2024.

• WDS 2024 was organised by the General Authority for Military Industries (GAMI), the regulator, enabler, licensor for the military industry in Saudi Arabia.
• The Theme of WDS 2024 is “Equipped for Tomorrow”.

Inauguration: Prince Khalid bin Salman bin Abdulaziz, Minister of Defence and Vice Chairman of the Board of Directors of GAMI inaugurated the WDS 2024.
Key Points:
i.Munitions India Limited (MIL) signed a contract worth USD 225 million for the supply of artillery ammunition to Saudi Arabia.
ii.Ajay Bhatt, MoS, MoD visited Riyadh to lead the Indian delegation at WDS 2024.
iii.Tri-Service Women Officers Represented Indian Armed Forces at WDS 2024
About Saudi Arabia:
Capital- Riyadh
Prime Minister- HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud
Currency- Saudi Riyal

PSB & WDRA signed MoU to offer Low Interest Rate to FarmersWarehousing Development Regulatory Authority (WDRA) has signed a Memorandum of Understanding (MoU) with a Punjab & Sind Bank (PSB) to facilitate low-interest rate loans to farmers and traders.
Key Dignitaries: The MoU was exchanged by T.K. Manoj Kumar, Chairperson, WDRA; Swarup Kumar Saha, Managing Director (MD) & Chief Executive Officer (CEO), PSB in New Delhi, Delhi.
About the MoU:
i.The MoU aims to raise awareness and encourage funding against electronic Negotiable Warehouse Receipts (e-NWRs) to improve agricultural pledge finance in India.
ii.As per the MoU, PSB will offer low-interest loans against e-NWRs with no requirement for collateral.
iii.Farmers can avail loans of up to Rs 75 lakh, while borrowers from other categories can access loans of up to Rs 5 crore under the agriculture sector.
What is eNWR?
i.Launched in 2018, eNWR is a digital warehousing receipt issued by registered warehouses regulated and governed by WDRA.
ii.The farmers were given e-NWRs once they stored their produce in scientific storage godowns authorised by WDRA and seek loan from e-NWRsbanks against their e-NWRs.
About Warehousing Development Regulatory Authority (WDRA):
The WDRA is a Statutory Authority under the Department of Food and Public Distribution (DFPD) of the Ministry of Consumer Affairs, Food and Public Distribution(MoCAF&PD).
Chairman – T K Manoj Kumar
Headquarters – New Delhi, Delhi
Established in – 2010
About Punjab & Sind Bank (PSB):
MD & CEO – Swarup Kumar Saha
Headquarters – New Delhi, Delhi
Established in – 1908

Yes Bank, LeRemitt partners for Cross-Border Transactions for MSMEs Yes Bank limited has partnered with the  Bengaluru Based fintech startup to create a cross-border platform to enable Micro, Small, and Medium Enterprises (MSMEs) to conduct international transactions in key currencies, including USD and euro.

• It will also offers transparency, efficiency, and cost benefits for small businesses involved in global trade.
• LeRemitt serves as a cross-border remittance platform, assisting MSMEs in sending and receiving payments, besides other services.

About LeRemitt:
Cofounder and CEO– Sheetal Jain
Headquarter– Bengaluru, Karnataka
Establishment– 2022

HSBC in Partnership with Google Cloud Finances Climate Technology Firms
The Hongkong and Shanghai Banking Corporation (HSBC) in partnership with Google Cloud Platform (GCP) aims to offer financial support and technological resources to fast-growing climate technology firms.

• HSBC will be funding about USD 1 billion to climate tech companies selected by Google through its Google Cloud Ready-Sustainability (GCR-Sustainability) programme by 2030.
• The partnership could be a win-win for climate technology.

Shivalik Group receives SEBI approval for their Inaugural AIF 
Ahmedabad (Gujarat)-based real estate developer Shivalik Group has received regulatory approval from the Securities and Exchange Board of India (SEBI) for its inaugural fund- Shivalik Investment Fund as a Category II Alternative Investment Fund (AIF).

• The fund aims to raise Rs.300 crore through private placement including Rs.150 Crore Green Shoe Option.
• The fund is sponsored & managed Shivalik Investment Fund Private Limited
• The fund will be invested in the fast-developing regions of Ahmedabad and Gandhinagar districts of Gujarat thereby generating superior long-term capital appreciation from investment in the real estate sector.

CBT hiked EPF Interest Rate to a Three-Year High of 8.25% for FY24The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) has hiked the interest rate on Employees’ Provident Fund (EPF) deposits to a three-year high of 8.25% from 8.15% for the financial year 2023-24 (FY24).

• The decision was taken in the 235th CBT meeting chaired by Union Minister Bhupender Yadav, Ministry of Labour and Employment (MoLE).
• CBT is the apex decision-making body of the EPFO functioning under MoLE.

Key Points:
i.The interest rate hike is subject to the approval of the Ministry of Finance (MoF).
ii.About 29 crore total subscribers will be benefitted from this decision.
iii.CBT will be distributing about Rs 1,07,000 crore as interest on a total principal amount of about Rs 13 lakh crore in FY24.
iv.Comparing previous financial years, the income has grown by more than 17.39%, while the principal amount has increased by 17.97%.
Previous Interest Rate:
i.In FY22, the interest rate was reduced to 8.1% from 8.5%. The rate increased marginally to 8.15% for FY23.
ii.The 8.5% interest rate on EPF deposits for 2020-21 was decided by CBT in March 2021.
What is EPF?
i.EPF is a retirement savings scheme in India mandated by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.
ii.Both employer and employee contribute 12% of the employee’s basic salary towards the EPF.
iii.Employees’ full contribution is deposited to the EPF account, whereas only 3.67% of the employer share is deposited to the EPF account and the remaining 8.33% is forwarded to the Employees’ Pension Scheme.
About Employees’ Provident Fund Organisation (EPFO):
Central Provident Fund Commissioner (CPFC) – Neelam Shami Rao
Headquarters – New Delhi, Delhi
Established in – 1952

Former PM Alexander Stubb Elected as 13th President of Finland  Finland’s former Prime Minister (PM) Alexander Stubb of the National Coalition Party (NCP) won the run-off presidential election, securing 51.6% of the vote, and became the 13th President of Finland.

• He defeated Pekka Haavisto, an independent candidate of the Green Party and former Foreign Minister, who secured 48.4% of votes.
• Alexander Stubb will replace incumbent President Sauli Niinisto, who is required to step down after serving 2 six-year terms since 2012.

About the Presidential Election:
i.Alexander Stubb also won the first round of the election held on 28 January 2024 with 27.2% of the vote ahead of Haavisto with 25.8%.
ii.The run-off was held after the 1st round since no candidate obtained more than 50% of the votes required for direct election.
Note: This marks the first election since Finland joined as the 31st member of the North Atlantic Treaty Organization (NATO) military alliance in April 2023.
About Alexander Stubb:
i.From 2001-2003, he served as an advisor to the President of the European Commission.
ii.He served as a Member of the European Parliament from 2004 to 2008 and served as Minister for Foreign Affairs of Finland from 2008-2011.
iii.He served as a Member of Finland’s National Parliament (2011-2017) and as Minister for Europe and Foreign Trade(2011-2014).
iv.He served as PM of Finland from 2014 to 2015 and as as Minister of Finance from 2015-2016.
v.He was appointed as the Vice President of the European Investment Bank in 2017.
vi.Since 2020, he has been serving as the Director of the School of Transnational Governance at the European University Institute and professor in Florence, Italy.
About Finland:
Prime Minister– Petteri Orpo
Capital– Helsinki
Currency– The Euro

Padma Shri Awardee & Renowned Writer UshaKiran Khan Passed AwayPadma Shri Awardee and renowned Hindi and Maithili writer UshaKiran Khan passed away at the age of 78 in Patna, Bihar. She was born on 24th October 1945 at Laheriasarai in the Darbhanga district of Bihar.

• She was honoured with the Padma Shri in the field of literature and education in 2015.

Awards/Honours:
i.She was also a recipient of the Sahitya Akademi Award in 2011 for her Maithili novel ‘Bhamati’, written in 2010, and published by Samayik Prakashan.
ii.She received the Kusumanjali Sahitya Samman from theKusumanjali Foundation for her Hindi novel ‘Sirjanhaar’ in 2012.
iii.She also received various for her literary contributions including the Mahadevi Verma Award, the Dinakar National Award, and the Bharat-Bharati, among others.
Literary Works:
i.She published her works in diverse fields including child literature, novels, and story collections.
ii.Her notable works include Doobdhaan, Geeli Paank, Kasavan, Jaldhar, Janam Awadhi, Chidia Chug Gayi Khet, and Shershah Suri.
Note:
Maithili was included in the Eighth Schedule of the Indian Constitution as a recognised Indian language by the 92nd Constitutional Amendment Act in 2003.

Sanjay Jaju, Secretary MIB, unveiled ‘India Year Book 2024’ & ‘Career Calling’ at World Book Fair in New Delhi
On 10th February 2024, Sanjay Jaju, the Secretary of the Ministry of Information and Broadcasting (MIB) inaugurated the Publications Division’s stall and unveiled its publications titled “India Year Book 2024” and “Career Calling” at the World Book Fair 2024 in New Delhi, Delhi
The World Book Fair 2024, organized by the National Book Trust of India, will take place at Pragati Maidan, New Delhi

• The fair is being held from February 10-18, 2024 on the theme ‘Multi Lingual India (Bahubhashi Bharat)’. It is the 51st edition of the fair.
• It is organized by National Book Trust, India under the Ministry of Education. India Trade Promotion Organisation (ITPO) under the Ministry of Industry and Commerce) is the co-organiser/venue partner of the fair.

Key Points:
i.The India Year Book 2024 is an annual reference book that offers an overview of India’s progress. Career Calling is a guide for informed choices.
ii.The Publications Division of MIB publishes non-fiction books about India’s heritage and panorama.

World Pulses Day 2024- February 10 The United Nations (UN) World Pulses Day (WPD) is annually observed across the globe on 10 February to recognise the significance of pulse crops like chickpeas, dry beans, and lentils as a global food.
The 2024 theme of WPD 2024 is: “Pulses: Nourishing Soils and People.”
Background:
i.The United Nations General Assembly (UNGA) adopted the resolution A/RES/73/251 on 20th December 2018, and proclaimed 10 February of every year as WPD.

• Burkina Faso, a landlocked country in West Africa proposed the observance of WPD.

ii.The day was established following the successful implementation of International Year of Pulses (IYP) in 2016 by FAO.
iii.The 1st ever WPD was observed on 10 February 2019.
About  Food and Agriculture Organization of the United Nations (FAO) :
Director-General– Qu Dongyu
Headquarters– Rome, Italy
Founded in 1945

National Deworming Day 2024 – February 10The National Deworming Day (NDD) is organised biannually in all states and Union Territories (UTs) across India to eradicate intestinal worms also referred to as Soil-Transmitted Helminths (STH), among children of age 1-19 years. The 1st round is conducted in February and the 2nd round is conducted in August.

• In 2024, the first round of NDD is observed on February 10, 2024, with a mop-up day (MUD) followed by the next day of NDD or on which the state government decides.

Background:
i.NDD is a flagship program of the Ministry of Health and Family Welfare, which was launched in 2015.
ii.NDD was first observed on 10th February 2015.
About Ministry of Health and Family Welfare (MoH&FW):
Union Minister – Mansukh Mandaviya (Rajya Sabha – Gujarat)
Minister of State (MoS) – Bharati Pravin Pawar (Constituency – Dindori, Maharashtra), S. P. Singh Baghel (Constituency – Agra, Uttar Paresh)

First-Ever UN International Day of the Arabian Leopard 2024- February 10 The first-ever United Nations (UN)’s International Day of the Arabian Leopard was observed across the globe on 10th February 2024 to raise awareness about the critically endangered status of the Arabian Leopard (Panthera pardus nimr).

• The Day also highlights the conservation efforts and the challenges faced by the Arabian Leopard species.

Supreme Court Issues New Guidelines for Environmental Regulatory Bodies
On January 31, 2024, the 3-judge bench of the Supreme Court (SC) of India issued a set of guidelines for effective functioning of environmental regulatory bodies and authorities in India

• The 3-judge bench, led by Justice Bhushan Ramakrishna Gavai (BR Gavai), includes justices Pamidighantam Sri Narasimha, and Prashant Kumar Mishra.

Guidelines for Effective Functioning:
i.The SC stated that the bodies, authorities, regulators and executive offices incharge of environmental duties should function with institutional features and should be accountable, transparent and efficient in their functioning.
ii.The court also directed that composition, qualifications, tenure, method of appointment, and removal of members should be clearly specified.
iii.The appointments should be made regularly to ensure continuity. The organisation shoud be staffed with people with requisite knowledge, technical expertise, and specialisation.
iv.The mandate and roles of each authority and body should be defined to avoid overlap and duplication of work. Establish a method for constructive coordination among institutions.
v.The authorities and bodies must receive sufficient funding and their finances must be certain and clear.
vi.The organisations should establish the norms for public hearings, decision-making process,the right to appeal prescription and timelines.
Permanent Body Approval:
i.SC passed the directions while approving the Centre’s notification, making the Central Empowered Committee (CEC), a permanent body.
ii.The CEC assists the SC on environment and forest issues, and will now have members chosen by the Centre for a fixed tenure with specified functions.
iii.SC mandated regular audits of the performance of environmental bodies towards proper institutionalisation to ensure accountability and transparency.

Zoho, Juspay, and Decentro received RBI Nod for Payment Aggregator Business
As of February 6, 2024, the Reserve Bank of India (RBI) has granted final approval to two fintech startups namely Juspay Technologies Private Limited(Juspay) and Decfin Tech Private Limited (Decfin) and a Software-as-a-Service(SaaS) provider Zoho Payment Technologies Private Limited (Zoho) to act as a Payment Aggregator (PA).

• The authorisation was granted under Section 7 of Payment and Settlement Systems Act, 2007.

Key Points:
Zoho:
i.Chennai (Tamil Nadu) based, Zoho Payment Technologies Private Limited is the first SaaS company to function as PA.
ii.Zoho received in-principle authorisation from RBI in February, 2023.
Juspay:
i.Bengaluru (Karnataka) based, Juspay Technologies Private Limited has reached the second stage of approval as a PA in December 2023.
ii.It is a payment gateway company allowing card, wallet, and Unified Payments Interface (UPI)-based transactions via their platform and Application Programming Interfaces (APIs).
Decfin:
i.Bengaluru (Karnataka) based Decfin Tech Private Limited will also function as PA under the name ‘Decentro’.
ii.Decentro facilitates neo-banks, digital marketplaces, and financial technology companies to integrate banking and payment solutions using their APIs.
Functions:
i.These entities will carry on the business of a PAs as defined in ‘Guidelines on Regulation of Payment Aggregators and Payment Gateways’ issued by RBI.
ii.As PA, they provide secure online payment systems and solutions to merchants.
CoA:
RBI has also issued Certificates of Authorisation (CoA) under the Payment and Settlement Systems Act, 2007 for Setting up and Operating Payment System in India.
Additional Info:
RBI has also extended its Payments Infrastructure Development Fund (PIDF) scheme till 31 December 2025.

OECD’s Economic Outlook Raised India GDP Growth Forecast for FY25 to 6.2%
The Organization for Economic Co-operation and Development (OECD) Economic Outlook, Interim Report February 2024 titled “Strengthening the Foundations for Growth” has raised India’s Gross Domestic Product (GDP) growth forecast for FY 2024-25 to 6.2%, up from the November 2023 estimate of 6.1%.

• For 2025-26(FY26), the OECD maintains India’s growth forecast at 6.5%.

About the Report: The OECD Economic Outlook, prepared by the OECD Economics Department, is the twice-yearly analysis of the major global economic trends and prospects for the next 2 years.
Key Points:
i.India’s inflation is likely to improve, reaching 4.9% in FY25, down from the projected 5.3% projected in November 2023.
ii.FY26 forecasts show a marginal increase of 4.3%, slightly higher than the initial 4.2%.
Investment Boost:
i.India and Indonesia are poised for steady expansion over the next 2 years, driven by robust investment growth.
ii.GDP is expected to rise by over 6.25% and 5% per annum, respectively.
Additional info:
i.Inflation in emerging-market (EM) economies are expected to remain higher than in the advanced economies and will ease gradually through FY25. Tighter monetary policy and energy and food price cycles have been the key drivers of inflation.
ii.In countries like Brazil, India, Indonesia, Mexico, and South Africa, inflation is projected to gradually ease and converge towards central bank targets by the end of 2025.
Note: The Economic division of the Union Ministry of Finance stated that the Indian economy is expected to expand at around 7% in FY25. For the 4th consecutive year(post-COVID-19 pandemic) India’s economy will grow at or over 7%.
Economic Outlook – Global:
i.The Outlook projects global GDP growth of 2.9% in 2024 and a slight improvement to 3.0% in 2025. This is in line with the OECD projections from November 2023(2.7% for 2024 and 3.1% for 2025).
ii.Headline inflation in G20 countries is expected to decline from 6.6% in 2024 to 3.8% in 2025. Core inflation in the G20 advanced economies is projected to fall back to 2.5% in 2024 and 2.1% in 2025.

Nima Sarikhani Wins Wildlife Photographer of the Year 59 People’s Choice AwardNima Sarikhani of the United Kingdom(UK) won the 2023 Wildlife Photographer of the Year 59 People’s Choice Award by the Natural History Museum, London(UK).

• Nima Sarikhani won this award for his photo of a polar bear sleeping peacefully on a small iceberg.

About the Award:
i.The award contest is annually organised by the Natural History Museum and it was originally founded in 1965 by British Broadcasting Corporation (BBC) Wildlife Magazine.
ii.The People Choice Award was given based on the online poll featuring the 25 best photographs by shortlisting 50,000 entries from around the world.
iii.Nima Sarikhani’s photo titled ‘Ice Bed’ got 75,000 votes in the online poll to win the award.
iv.The other four finalists for the award were – The Happy Turtle by Tzahi Finkelstein (Israel), Starling Murmuration by Daniel Dencescu (Germany), Shared Parenting by Mark Boyd (Kenya), and Aurora Jellies by Audun Rikardsen (Norway).
v.The winner is awarded with £ 10,000 (Pound), a trophy and personalised certificate.
v.The five images will be displayed online and at London’s Natural History Museum until June 30, 2024.
Click here to view top five finalists’ images
About the Photo:
Nima Sarikhani took the photo of a sleeping polar bear after three days of searching for polar bears on the coast of the Svalbard archipelago of Norway.
Note–
The 2022 Wildlife Photographer of the Year 58 People’s Choice Award was awarded to Sascha Fonseca (Germany) for the image ‘World of the Snow Leopard’.

Apurva Chandra appointed as Secretary of MoH&FW; Sanjay Jaju Appointed as Secretary of MIB
Apurva Chandra, Secretary of the Ministry of Information and Broadcasting (MIB), has been appointed as the Secretary of the Ministry of Health and Family Welfare(MoH&FW).

• Sanjay Jaju was appointed as the New Secretary of MIB succeeding Apurva Chandra.
• Rajiv Mani takes addtional charge as Secretary of Legislative Department, Ministry of Law and Justice (MoL&J)

About Ministry of Law and Justice (MoL&J):
Union Minister– Kiren Rijiju (Constituency: Arunachal West, Arunachal Pradesh)
Minister of State– S. P. Singh Baghel (Constituency: Agra, Uttar Pradesh)

Olzhas Bektenov becomes the Youngest PM of Kazakhstan
Kazakhstan’s president Kassym-Jomart Tokayev has appointed Olzhas Bektenov(43 years) of Amanat party as the new Prime Minister (PM) of Kazakhstan. Olzhas Bektenov is the youngest PM in Kazakhstan’s history.

• He has been serving as the head of the Executive Office (chief of staff) of the President since April 2023.
• He also served as a Deputy Chairman of the ‘Agency for Public Service and Fighting Corruption’ in 2018.
• The appointment comes after the dismissal of Alikhan Smailov’s government which was in power since January 2022.
• In 2022 Bektenov became chairman of the Group of States against Corruption of the Council of Europe (GRECO).

Asian Development Bank appoints Mio Oka as Country Director for India
The Asian Development Bank (ADB) has appointed Mio Oka as its new Country Director for India.

• Mio Oka will take over from the incumbent Takeo Konishi who has been elevated as ADB Director General for South Asia.
• Mio Oka has been associated with ADB for more than 18 years; She joined ADB in 2005 as a Social Developmental Specialist.
• Before joining ADB, she served for the Ministry of Foreign Affairs of Japan(2004-05), Japan Bank for International Cooperation (1998-2001) and Japan International Cooperation Agency(2001-03).

About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Headquarters – Mandaluyong City, Manila, Philippines
Established in – 1966

IRS Officer Narendra Kumar Yadav Appointed As Brand Ambassador For Fit India Movement
Narendra Kumar Yadav, Indian Revenue Service (IRS) 2009 batch officer, has been the first civil servant to be appointed as a brand ambassador for the Fit India Movement.

• Narendra Kumar Yadav is currently serving as an ‘Additional Director GST (Goods and Services Tax)’ in the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance.
• Fit India Movement was launched by Prime Minister Narendra Modi in 2019 to make fitness an integral part of everyone’s daily lives. The movement aims to bring about behavioural changes and move towards a more physically active lifestyle.       

BSDMA launched a Novel Device ‘NITISH’ to Alert People on Natural CalamitiesThe Bihar State Disaster Management Authority (BSDMA) has launched the Novel Initiative Technological Intervention for Safety of Humanlives (NITISH) device in the presence of Nitish Kumar, Chief Minister (CM) of Bihar. The device aims to provide an earlier alert of natural calamities.

• The pendant-like device was developed by BSDMA in collaboration with the Indian Institute of Technology (IIT) in Patna, Bihar.

About NITISH Device:
i.The device, synced with Bihar Meteorological Service Centre, will alerts people half an hour before calamities like lightning, floods, heatwaves, and coldwaves.
ii.It is a waterproof device and gets charged from body heat.
iii.The device will alert the user in 3 ways: It will send a voice message; Its colour will change from green to red; and the device will keep warming till its user switches it off.
iv.The device is designed specifically for farmers but can also be used by common people.
Additional Info:
An Mobile Application ‘Indravraj’ has similar features to the NITISH Device is also available in Bihar to minimise deaths and injuries caused by lightning and thunderstorms.
About Bihar:
Chief Minister – Nitish Kumar
Governor – Rajendra Vishwanath Arlekar
National Park – Valmiki National Park
Wildlife Sanctuary – Bhimbandh Wildlife Sanctuary, Gautam Buddha Wildlife Sanctuary

Veteran Broadcaster & Sahitya Akademi winner Farooq Nazki Passed Away
Mir Mohammad Farooq Nazki, a Prominent broadcaster, poet, and Sahitya Akademi awardee, passed away at the age of 83 at Katra in the Union Territory (UT) of Jammu and Kashmir (J&K).

• He was born on 16 February 1940 in Madar village in Bandipora district, J&K.

About Mir Mohammad Farooq Nazki:
i.He started his career in 1960 as a journalist in the “Zamindar” newspaper and was known for his significant roles in All India Radio (AIR) Kashmir and Doordarshan(DD).
ii.He was among the 1st Indian broadcasters to travel to Europe and was trained in television media and programming in the United Kingdom (UK), and Germany.
iii.He served as Director of Doordarshan and erstwhile Radio Kashmir Srinagar (AIR Srinagar) from 1986 to 1997.
iv.He also served as Media Advisor of Two (former) Chief Minister(CM) of J&K, Farooq Abdullah and Omar Abdullah.
v.He retired as Deputy Director General of Doordarshan in 2000.
Awards/Honours:
In 1995, he was honoured with the Sahitya Akademi award in Kashmiri language for his poetry book “Naar Hatun Kazal Wanas” (Fire in the Eyelashes).

Chile’s former president Sebastián Piñera Passed Away
Sebastián Piñera Echenique, the two-time former president of Chile and Chilean businessman, has passed away by drowning in Lake Ranco in Chile after a helicopter crash. He was born on 1st December 1949 in Santiago, Chile.
As the President of Chile:
i.Sebastián Piñera served his first tenure as President of Chile from 2010 to 2014.
ii.He was the first conservative politician to be elected as president after the end of military rule in Chile.
iii.He belongs to a political party called Coalición por el Cambio (Coalition for Change), founded in 2009.
iv.He was again made President of Chile from 2018 to 2022.
Political entry:
i.Sebastián Piñera started his political career as an independent senator candidate for the Democracy and Progress Pact in 1989.
ii.He founded the Renovación Nacional (National Renewal) party in 2001 and served as its President till 2004.
iii.He also contested the 2005 presidential election in Chile, but failed to win it.
As A Business Person:
i.As of 8 February 2024, Sebastián Piñera (Sebastian Piñera & family) was ranked 1,027 on ‘Forbes Billionaires 2023: The Richest People In The World’, with a net worth of USD 2.9 billion.
ii.He also served as the Director of the Avanza Chile Foundation in 2014.
iii.Piñera also started a credit card company Bancard in 1976.
About Chile:
President – Gabriel Boric
Capital – Santiago
Currency – Chilean Peso

British-Indian Peer Baroness Shreela Flather Passed Away
British-Indian peer, Shreela Flather passed away at the age of 89. She was a life peer as Baroness of Windsor and Maidenhead in Berkshire (Towns in the United Kingdom (UK)).
Note:
A life peer is an honour given to individuals and grants them to be members of the House of Lords (the upper house of the UK Parliament) with the title of Baron (male) or Baroness (female).

• She was the first British Asian woman to become a life peer in 1990.
• She was also the first British Asian woman to become mayor in UK(of Windsor and Maidenhead) and as the Justice of the Peace.
• She played a key role in the construction of the renowned Memorial Gates at Hyde Park Corner in London, which pay tribute to the war efforts of Commonwealth soldiers during the World Wars.
• She wrote a book entitled “Woman – Acceptable Exploitation for Profit”, showing extreme poverty can be changed by bringing women into paid works, it was published in 2010 by Whittles Publishing.

Gujarat FM Kanubhai Desai presented State Budget of Rs 3,32,465cr for FY25i.The Finance Minister (FM) of Gujarat, Kanubhai Desai presented Rs 3,32,465 crore state budget for the  financial year 2024-25 (FY25) in the Gujarat Assembly House in Gandhinagar, Gujarat. It was the highest-ever budget presented in the history of Gujarat.
ii.The state proposes no new taxes.
iii.The budget estimates for 2024-25 includes Revenue Receipts of Rs 229653.17crore, Revenue Expenditure of Rs 219831.89 crore, Capital Receipts of Rs 95292.12 crore, and  Capital Expenditure of Rs 108615.17 crore.
iv.It reflects road map of Viksit Gujarat 2047 under the Prime Minister (PM) Narendra Modi’s Viksit Bharat 2047 Sankalpana.
v.The growth rate of Gujarat is 14.9%.
vi.Gujarat government’s FY25 fiscal plan unveiled with Rs 146.72 crore surplus budget.
About Gujarat:
Chief Minister– Bhupendra Patel
Governor– Acharya Devvrat
National Parks– Marine National Park, Vansda National Park

Uttarakhand Becomes 1st State to Pass Bill on Uniform Civil Code BillOn 7th February 2023, Uttarakhand Legislative Assembly passed the Uniform Civil Code (UCC) Uttarakhand Bill, 2024 which aims to govern and regulate laws related to marriage, divorce, land, property and inheritance for all citizens, irrespective of their religion.

• The bill will now be sent to President of India Droupadi Murmu for her assent after which it will become a law.
• With this, Uttarakhand will become the first Indian state to get a common law.

Note: The bill was Introduced in the House by Uttarakhand Chief Minister Pushkar Singh Dhami.
Background:
The UCC Bill is based on the draft submitted by a high-level committee formed by the Uttarakhand government under the chairmanship of retired Supreme Court judge Justice Ranjana Prakash Desai.
Note: Though Goa is governed by a UCC (Portuguese Civil Code), the state Assembly did not pass any law on the subject. Goa retained the Code after its liberation in 1961.
Noted Aspects of the Bill:
i.Mandatory registration of Live-In relations;
ii.Conditions for a Contract marriage;
iii.A Ban on Halala, Iddat, and Polygamy;
iv.Similar inheritance rights for men and women.
Key Points:
i.Under the UCC Bill, live-in relationships require registration within 1 month from the date of entering into the relationship.

• Adults engaging in live-in relationships must obtain consent from their parents.

ii.The bill also imposes a ban on child marriage and introduces a uniform process for divorce.
iii.It provides equal rights to women of all religions in their ancestral property.
iv.As per the UCC Bill, the age for marriage will be 18 for women and 21 for men in all communities.

• Marriage registration is mandatory in all religions and marriages without registration will be invalid.

v.No divorce petition will be allowed to be filed after 1 year of marriage.
Exemptions:
The proposed law does not apply to Uttarakhand’s Scheduled Tribes (STs) and individuals and group of people whose customary rights are protected under the Part XXI of the Constitution of India.

Overview of PM Modi’s visit to Odisha and Assam on 3 & 4 February, 2024Prime Minister (PM) Narendra Modi visited Odisha and Assam on 3rd February to 4th February, 2024 and laid the foundation stone and inaugurated several projects.
Highlights of PM Modi’s visit to Odisha
During his visit to Odisha on 3rd February,2024, PM Modi inaugurated and laid the foundation stone for various infrastructure projects worth over Rs 68,000 crore in Sambalpur, Odisha.

• The projects were related to various sectors such as: railways, road, higher education and energy sector which includes coal, natural gas and power areas.

PM Modi laid foundation stone for various projects worth Rs 11,600 crore in Assam
On 4th February, 2024, Prime Minister Narendra Modi inaugurated various development projects worth Rs 11,600 crore in Assam.
About Odisha:
Chief Minister(CM): Naveen Patnaik
Governor: Raghubar Das
Capital: Bhubaneswar
National Park(N.P.): Similipal National Park, Bhitarkanika National Park

Union MoS Rajeev Chandrasekhar Inaugurates Digital India FutureLABS at IIIT-Delhi Union Minister of State(MoS) Rajeev Chandrasekhar, Ministry of Electronics and Information Technology(MeitY) launched the “Digital India FutureLABS” at Indraprastha Institute of Information Technology-Delhi (IIIT-Delhi), New Delhi, Delhi

• The MoS also addressed the Digital India FutureLABS Summit 2024 held at IIIT-Delhi on 3rd February 2024.
• Digital India futureLABS will be coordinated by the Centre for Development of Advanced Computing(C-DAC).

About Ministry of Electronics and Information Technology(MeitY):
Union Minister– Ashwini Vaishnaw(Rajya Sabha- Odisha)
Minister of State(MoS)– Rajeev Chandrasekhar(Rajya Sabha- Karnataka)

India Contributes USD 32.89 Million to UN Regular Budget for 2024 On 31 January 2024, India contributed USD 32.895 million (approximately Rs. 273 Crore) to the United Nations (UN) Regular Budget (RB) for 2024 and earned its spot in the “Honour Roll of the UN for 2024”. 
Honour Roll 2024:
i.Honour Roll is a list of UN that have paid their mandatory financial support in full to the UN’s RB within 30 days of issuance of a payment note from the UN.
ii.As of 5th February 2024, 43 Member States have paid their regular budget assessments in full within the 30 day due period specified in Financial Regulation 3.5 (by 8 February 2024).
Note: India’s assessed contribution to the UN budget for 2023 was USD 30,540,402.00, and India has consistently figured in the UN Honour Roll.
UN Regular Budget (RB):
i.The RB encompasses UN programs spanning various domains, such as:

• Political affairs;
• International justice and law;
• Regional cooperation for development;
• Human rights and humanitarian affairs; and
• Public information.

ii.In December 2023, the United Nations General Assembly (UNGA) approved an RB for the UN Secretariat’s 2024 operations, of USD 3.59 billion for 2024.
iii.This is about USD 300 million more than the USD 3.3 billion budget proposed by UN Secretary-General António Guterres in October 2023.
Peacebuilding Fund:
i.The budget also includes the establishment of a multi-year Peacebuilding Account, a special account dedicated to financing the UN’s Peacebuilding fund.
ii.The UNGA adopted almost USD 50 million in additional funding for decisions taken by the Human Rights Council and decided to establish the Peacebuilding Account.

• The additionally approved USD 50 million of assessed contributions per annum is to fund the Account, starting 1 January 2025.

Note: The UN maintains a distinct budget for peacekeeping operations, with the fiscal cycle from 1 July to 30 June, while the RB cycle aligns with the calendar year.
About United Nations (UN):
Secretary-General– António Guterres
Headquarters– New York, USA
Established in– 1945

SBI Ties Up with Flywire to Foster Payments of Indian Students AbroadState Bank of India (SBI) in collaboration with Boston, United States of America (USA) based Flywire Corporation, a global payments enablement and software company, aims to simplify cross-border education payments for Indian students pursuing studies abroad.

• The facility is available only to local currency account holders of SBI in India.

Key features:
i.Indian students can now pay education fees to higher education institutions across the world in Indian Rupees (INR) directly from their SBI accounts, eliminating lengthy processes.
ii.Universities and colleges receive payments on time in their local currency and gain transparency into transaction history.
LRS guidelines:
i.The solution is in line with the compliance process of the Liberalized Remittance Scheme (LRS) guidelines set by the Reserve Bank of India (RBI).
ii.The guidelines allow Indian residents to easily remit up to USD 250,000 per financial year.
iii.It also helps to streamline overseas transactions and investments for residents of India.
Process:
i.Flywire directly integrates with SBI’s platform, creating a fully digital checkout experience for the transactions.
ii.Flywire identifies the source of payments delivered to an institutions’ bank account and automatically posts each payment to the applicable student record.
iii.These payments can be made and tracked through the SBI Internet banking platform.
Additional Info:
i.Indian students are moving to countries such as USA, Canada, the United Kingdom(UK) and Australia for higher education.
ii.According to the Open Doors 2023 Report on International Educational Exchange, a huge number of Indian students went to the USA in the 2022-23 academic year, representing an increase of 35% over the 2021-22 academic year.
About State Bank of India (SBI):
Chairperson – Dinesh Kumar Khara
Headquarters –  Mumbai, Maharashtra
Established in – 1955
Tagline – The Banker to Every Indian

HDFC Bank Launched 4 Business Credit Cards BizFirst, BizGrow, BizPower, & BizBlack for Self-employed CommunityOn 6th February 2024, HDFC Bank, India’s largest private sector bank., launched 4 variants of new Small and Medium Enterprises (SME)-focused Business range credit cards namely BizFirst, BizGrow, BizPower, and BizBlack.

• These cards will cater to the needs of the self-employed community including Micro-Small and Medium Enterprises (MSMEs), startups, professionals, and freelancers.

About the New Credit Cards:
i.The business credit card range offers a best-in-class interest-free credit cycle of 55 days, the highest number of days offered by any bank.
ii.It also offers savings on core business spending like utility bills, Goods and Services Tax (GST), income tax, vendor payments, business travel, and business productivity tools.
iii.This credit card launch is part of HDFC Banks’s strong SME Payment Solutions suite designed to meet the diverse payment needs of self-employed individuals, SMEs, and MSMEs.
Unified Digital Platform:
i.HDFC Bank introduces a unified digital platform addressing both the payable and receivable needs of businesses.

• It seamlessly manages vendor payments, utility bills, statutory payments, etc.

ii.On the receivable side of the payments, the platform is designed to optimise end-to-end supply-chain arrangements and reconciliation.
iii.The platform provides a detailed dashboard with one view of payments made and accepted, for better cash-flow management.
Key features:
i.Up to 55 Days Free Credit Period.
ii.Up to 10X Reward Points on Business Spends.iii.Specially Curated Business Insurance Package.
iv.Exclusive Business-Focused Redemption Catalogue.
v.Equated Monthly Installment (EMI) and Loan on Card Facility.
About HDFC Bank Ltd:
MD and CEO– Sashidhar Jagdishan
Headquarters– Mumbai, Maharashtra
Established in 1994
Tagline– We Understand Your World

LIC launches individual life insurance plan Index Plus
Life Insurance Corporation of India (LIC) launched “LIC Index Plus”, a unit-linked, regular premium, individual life insurance plan.
The plan offers a combination of life insurance coverage and savings throughout the policy’s duration.
LIC Index Plus will be available for purchase from 6th February 2024. 
i.Age at entry:  90 days (Minimum) to 50 or 60 years (Maximum)
ii.Basic sum assured: 7 to 10 times of Annualized premium for entry at 90 days to 50 years and 7 times of Annualized premium for entry at 51 to 60 years.
iii.Age at maturity:  18 years(Minimum) and 75 or 85 (based on sum assured).
iv.Policy term: Minimum 10 or 15 years depending on Annualized premium and Maximum Term is 25 years.
v.Premium: Minimum Premium(Based on the Premium payment frequency): Rs 30000 (Yearly), Rs 15000 (Half- yearly), Rs 7500 (Quarterly), and Rs 2500 (Monthly). Maximum Premium: no limit.

66th Annual Grammy Awards(2024): Taylor Swift wins Album of the Year for 4th timeThe 66th Annual Grammy Awards (Grammy 2024) was held at the Crypto.com Arena in Los Angeles, California, the United States of America(USA) on 4th February 2024.

• The Grammy 2024 recognized recordings released between 1st October 2022 and 15th September 2023. The 2024 awards were presented in 94 categories.

Top Honours: 
i.Taylor Swift won the Grammy 2024 – Album of the Year for her album Midnights and became the first ever artist to win “Album of the Year” four times.  she also won the award under “Best Pop Vocal Album” category. 
ii.Victoria Monét won the Best New Artist at the 2024 Grammys
Zakir Hussain’s Shakti band won Best Global Music Album for ‘This Moment’:
The band Shakti, led by Tabla maestro Ustad Zakir Hussain and featuring vocalist Shankar Mahadevan, percussionist V Selvaganesh, violinist Ganesh Rajagopalan and John McLaughlin, has won the Best Global Music Album award for their latest release ‘This Moment’.

H Venkatachalam Iyer Appointed as MD & CEO of Tata AIA Life  ; Naveen Tahilyani Appointed as MD & CEO of Tata DigitalThe Board of Tata AIA Life Insurance Company Limited has appointed H Venkatachalam Iyer as its new Managing Director (MD) & Chief Executive Officer (CEO).

• He will take over from incumbent Naveen Tahilyani, who has been elevated as a non-executive director of Tata AIA Life and appointed as MD & CEO of TATA Digital Private Limited with effect from 19th February 2024.

Note: The appointment is subjected to regulatory approval from the Insurance Regulatory and Development Authority (IRDAI).
About H Venkatachalam Iyer:
Prior to the appointment, Venkatachalam Iyer has been serving as the President & Chief Distribution Officer at Tata AIA Life. He joined Tata AIA Life in April 2016.
Previously he served as the Executive Vice President of ICICI Prudential Life Insurance Company Limited.
He has more than 20 years of experience in the field of Sales and Distribution, Channel Management, and Strategy roles.
Naveen Tahilyani appointed as MD & CEO of Tata Digital CEO & MD
Tata Group has appointed Naveen Tahilyani as the new MD & CEO of Tata Digital Private Limited with effect from 19th February, 2024.

• He will succeed Pratik Pal, who stepped down from the post on 6th February 2024.

About Naveen Tahilyani:
i.He served as the MD & CEO fo TATA AIA Life from 2015 to 2018 and from 2020 to 2024.
ii.Between 2018 and 2020, He served as the CEO of AIA Group (2018 to 2020) and held a brief stint as Group Executive- Banking Operations and Transformation of Axis Bank Limited (2020)iii.He has also served as Senior Partner at McKinsey & Company, based in Mumbai and led the Financial Services practice in India and South East Asia.
About Tata AIA Life Insurance Company Limited:
Tata AIA Life Insurance Company Limited is a Joint Venture(JV) between Tata Sons Private Limited and AIA Group Limited.
Headquarters – Mumbai, Maharashtra
Established in – 2001

Nayib Bukele re-elected as President of El Salvador for 2nd Term Nayib Armando Bukele Ortez(42-year-old), President of  El Salvador, won the general elections 2024 and was re-elected to the post for the 2nd consecutive term.

• He became the first Salvadorian president to win a 2nd consecutive term since 1983.
• He will take charge as the President of El Salvador in June 2024 and setve till 2029.

About Nayib Armando Bukele Ortez:
i.Nayib Bukele, the founder of Nuevas Ideas (New Ideas) political party, has been serving as the President of El Salvador since 2019.
ii.In 2021, the Constitutional Chamber of the Supreme Court of El Salvador ruled that President Nayib Bukele could run for a second consecutive term.
iii.Previously, He has also served as a mayor for the municipalities of Nuevo Cuscatlán (2012-2015) and San Salvador (2015-2018) in El Salvador.
Note:
i.In December 2023, the Congress of El Salvador granted President Nayib Bukele permission to leave his post for 6 months to launch campaign for 2024 election.
ii.Claudia Rodríguez de Guevara, head of National Directorate of Municipal Works was appointed as the the Interim President of El Salvador for the 6 months.  She became the first women President of El Salvador.
2024 General Election of El Salvador:
i.The elections for president, vice president and Legislative Assembly were held in El Salvador from 6th January to 4th February 2024.

• Nayib Bukele claimed to have won more than 85% of the vote.

ii.In the Legislative Assembly election, the Nuevas Ideas party won 58 seats out of 60 seats of the El Salvador parliament.
iii.A second set of elections will be held on 3rd March 2024 to elect mayors and municipal councils and deputies to the Central American Parliament (Parlamento Centroamericano also known as PARLACEN)

Ravi Kumar Jha Appointed as MD & CEO of LIC AMC
LIC Mutual Fund Asset Management Ltd(LIC AMC), the investment manager of LIC Mutual Fund (LICMF), has appointed Ravi Kumar Jha as its Managing Director (MD) and Chief Executive Officer (CEO) with effect from 31st January 2024.

• He is also designated as a Key Personnel for the Schemes of LIC Mutual Fund.
• Prior to the appointment, he was serving as the Associate Director of LIC AMC.

Note: T.S. Ramakrishnan, who served as MD & CEO of LIC AMC since 2022, resigned from the services by attaining superannuation at LIC on December 28, 2023.

CCI Approvals on 6th February 2024The Competition Commission of India (CCI) has approved the following on 6th February 2024.
i.Acquisition of certain shareholding of Shadowfax Technologies Private Limited(SFX) by NewQuest Asia Fund IV (Singapore) Pte. Ltd.(TPG NQ).
ii.Acquisition of 70% stake in Kotak Mahindra General Insurance Company Limited by Zurich Insurance Company Ltd
iii.Acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc.
About Competition Commission of India (CCI):
Chairperson – Ravneet Kaur
Headquarters– New Delhi, Delhi
Established on– 14 October 2003 (Operational from 2009)

HDFC Bank gets RBI Nod to Acquire up to 9.5% Stake in Six Banks
HDFC Bank Limited, India’s largest private lender, has received approval from the Reserve Bank of India (RBI) to acquire up to 9.5% stake each in six banks namely – Axis Bank Limited, Suryoday Small Finance Bank Limited, ICICI Bank Limited, Bandhan Bank Limited, YES Bank Limited and IndusInd Bank Limited.

• The approval was granted pursuant to the applications made by HDFC Bank to RBI on 18th December 2023.
• The approval is valid for one year ie., till 4th February 2025.
• The approval is intended for investments by HDFC Asset Management Company (AMC), HDFC Ergo and HDFC Life Insurance.

Note: HDFC Bank must ensure that the aggregate holding in the 6 banks does not exceed 9.50% of the paid-up share capital or voting rights of the respective banks, at all times.

Odisha CM Naveen Patnaik releases Coffee-Table Book Titled ‘Shree Jagannatha, Lord Of The Universe’
Chief Minister (CM) of Odisha Naveen Patnaik has released a coffee-table book titled ‘Shree Jagannatha, Lord Of The Universe’ during the valedictory session of the first-ever “World Odia Language Conference” held in Bhubaneswar, Odisha from 1st to 3rd February 2024.

• The book was published by The Hindu Group and edited by Raghuvir Srinivasan, Editor of The Hindu BusinessLine.
• The book pictorially narrates traditions and rituals associated with Lord Jagannath, Lord Balabhadra, and Devi Subhadra in Shree Jagannath Temple of Puri, Odisha.

International Day of Zero Tolerance for Female Genital Mutilation 2024- February 6
The United Nations (UN) International Day of Zero Tolerance for Female Genital Mutilation(FGM) is annually observed across the globe on 6 February to amplify and direct the efforts on the elimination of the practice of Female Genital Mutilation (FGM).
6 February 2024 marks the 13th observance of UN recognised International Day of Zero Tolerance for FGM.

• The theme of International Day of Zero Tolerance for FGM 2024 is, “Her Voice. Her Future. Investing in Survivor-Led Movements to End Female Genital Mutilation.”

Background:
i.On 6 February 2003, Stella Obasanjo, the 1st Lady of Nigeria, and spokesperson for the Campaign Against FGM, made the official declaration on “Zero Tolerance for FGM” in Africa during a conference.
ii.The 1st International Day of Zero Tolerance for Female Genital Mutilation was observed on 6 February 2003.
iii.On 20 December 2012, the UN General Assembly (UNGA) adopted the resolution A/RES/67/146 and proclaimed the 6th February of every year as the International Day of Zero Tolerance for Female Genital Mutilation.
About United Nations Population Fund (UNFPA):
It began operating in 1969 as the United Nations Fund for Population Activities.
Executive Director– Dr. Natalia Kanem
Headquarters– New York, USA

Current Affairs Daily Digest – 7 February 2024

Quality standards for 5 spices Finalized at 7th session of the Codex Committee on Spices and Culinary Herbs at KochiThe quality standards for 5 spices namely small cardamom, turmeric, juniper berry, allpice, and star anise were finalised at the 7th session of the Codex Committee on Spices and Culinary Herbs (CCSCH7) held in Kochi, Kerala.

• CCSCH7, hosted by the Government of India, was held from 29th January to 2nd February 2024.

Note:
CCSCH was established as one of the Commodity Committees under the CAC in 2013.
Spices Board India serves as the Secretariat organization which organises the Committee’s sessions.
Key Points:
i.The finalised quality standards for 5 spices were recommended to the Codex Alimentarius Commission (CAC) for adoption as full-fledged Codex standards.
ii.The proposals for the development of Codex standards for Dried Coriander Seeds (proposed by India), Large Cardamom(Bhutan and Nepal), Sweet Marjoram( Egypt), and Cinnamon(Brazil) were submitted at the session and sent for approval by CAC47.
iii.The committee also adopted an innovative approach to developing standards, by grouping the many spices and culinary herbs into six categories according to the part of the plant from which they are derived.
Functions of CAC:
i.CAC is tasked with formulating internationally accepted standards pertaining to human food.
ii.It conducts its work through various Codex committees, including the CCSCH, hosted by different member countries.
Importance of CAC standards:
i.The Quality standards of CAC are recognized by the World Trade Organization (WTO) as international reference points for the resolution of trade disputes concerning food safety and consumer protection.
ii.The standards developed by CAC are voluntary in nature and the member countries could adopt and use them as reference standards to align their national standards.
About Codex Alimentarius Commission(CAC):
CAC is an international, intergovernmental body jointly established by the Food and Agriculture Organization (FAO) and the World Health Organization (WHO).
Chairperson– Steve Wearne
Established in 1963
Headquarters– Rome, Italy

Federal Bank launches RuPay NCMC Wallet Debit CardFederal Bank has launched National Common Mobility Card (NCMC)-integrated debit cards which will enable its RuPay Debit Card holders to use their debit cards for offline payments at NCMC-enabled terminals at metro stations, buses, etc. Through this, the payment will be made  just by tapping the card on the card reader.

• Cards issued after April 2022 will exclusively support the NCMC feature.
• Customers can identify the RuPay Contactless feature by checking for the contactless indicator printed on the card.

Key Points:
i.NCMC RuPay Debit is a Dual Interface card for online (contact and contactless) and offline (contactless) transactions.
ii.Regular RuPay debit cards without contactless feature don’t support NCMC.
iii.NCMC RuPay Debit Cards allow storing money for contactless wallet payments.

• NCMC supports stored value payments (currently up to Rs 2,000, subject to Reserve Bank of India (RBI) changes) for simplified digital payments during travel.

v.For offline transactions, customers must activate the offline wallet, maintain a required balance, and tap the card at metro station gates.

• The Automatic Fare Calculator (AFC) deducts fare from the offline wallet.
• The upper limit for offline payment transactions is Rs 200, subject to changes.

About Federal Bank:
Managing Director & CEO– Shyam Srinivasan
Tagline– Your Perfect Banking Partner
Headquarters– Aluva, Kochi, Kerala
Establishment– 1931

REC won Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024
Gurugram (Haryana) based REC Limited (formerly Rural Electrification Corporation Limited) was awarded with the Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.

• REC was honoured for the issuance of Green Bonds worth USD 750 million in April 2023.
• This was the first USD Green Bond issuance from India after India assumed the G20 (Group of 20) Presidency and the largest-ever Senior Green Bond Tranche by a South or South-East Asian issuer

Note: 
i.REC Limited is a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP). 
ii.It is registered with Reserve Bank of India (RBI) as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).
iii.The Asset Triple A Awards are presented by The Asset(Asset Publishing and Research Ltd) to recognise those who excell in their respective industry.

Former Deputy PM LK Advani to be Honoured with Bharat RatnaFormer Deputy Prime Minister and Veteran Leader of the Bharatiya Janata Party (BJP), Lal Krishna (LK) Advani will be conferred with Bharat Ratna, the highest civilian award in India.

• He will be the 50th recipient of the Bharat Ratna award since its inception in 1954.

Points to Note:
i.This is the 7th Bharat Ratna awarded by the current ruling government (Prime Minister Narendra Modi regime), since assuming power in 2014.
ii.The list also includes:

• Madan Mohan Malviya (Posthumous, 2015);
• Atal Bihari Vajpayee (2015);
• Pranab Mukherjee (2019);
• Dr. Bhupendra Kumar Hazarika (Posthumous, 2019),
• Nanaji Deshmukh (Posthumous, 2019); and
• Karpoori Thakur (Posthumous, 2024).

About LK Advani:
i.He was born in Karachi (pre-Partition Sindh), in present-day Pakistan, on November 8, 1927.
ii.In April 1970, he entered the Rajya Sabha from the office of the Chairman of the Delhi Metropolitan Council.
iii.From 1977 to 1979, he held the position of Union Minister of the Ministry of Information and Broadcasting.
iv.In May 1986, he became the Party President of BJP and served for the longest period.
v.In 1988, he held the position of Home Minister and served as the Union Cabinet Minister of the Ministry of Home Affairs from 1999-2004.
vi.He was later elevated to the position of Deputy Prime Minister from 2022-2004.
About Bharat Ratna:
i.It was instituted in 1954 and is awarded in recognition of exceptional service/performance of the highest order in any field of human endeavour.
ii.The recommendations for Bharat Ratna are made by the Prime Minister himself to the President.
iii.The number of annual awards is restricted to a maximum of 3 in a particular year.
iv.The award includes a Sanad (certificate) signed by the President and a medallion.

• The Award does not carry any monetary grant.

UNESCO Appoints Brazilian Footballer Vinícius Junior as Goodwill Ambassador for Education for All United Nations Educational, Scientific and Cultural Organization (UNESCO), appointed Brazilian footballer Vinicius José Paixão de Oliveira Junior (Vinícius Junior) as the Goodwill Ambassador for Education for All.

• Audrey Azoulay, Director-General of UNESCO presented the letter of appointment to Vinícius Junior during a ceremony at the Real Madrid training center in Spain.
• Vinícius Junior becomes the 2nd Brazilian football player, after Pelé, to be appointed as the UNESCO Goodwill Ambassador.

Note: Vinícius Junior has been a committed advocate for equal opportunity through education in Brazil.
Role as Goodwill ambasador:
In alignment with UNESCO’s goal of promoting education for all, Vinícius Junior will play a crucial role in:
i.Speaking at international conferences;
ii.Engaging with Member States and the public; and
iii.Supporting UNESCO’s global educational initiatives.
Notable Works by Vinícius Junior:
i.In 2021, he founded the Instituto Vini Jr to promote education among underprivileged Brazilian children and teenagers. The institute utilises sports values to inspire students from diverse backgrounds to pursue education.
ii.He won the 2023 Socrates Award at the 2023 Ballon d’Or ceremony for his collaboration with Fédération internationale de football association(FIFA) and Brazil in the “Racism, don’t pretend you don’t see it” campaign.
About Vinícius Junior:
i.He plays as a winger for the Spanish club Real Madrid and the Brazil national team.
ii.He played for Brazilian club “Clube de Regatas do Flamengo” from 2017 to 2018, he joined Real Madrid in 2018 and made his debut for Real Madrid Castilla in August 2018.
iii.He was a part of the real Madrid team that won 2 La Liga titles (2020, 2022) along with the UEFA(Union of European Football Associations) Champions League in 2022 and 2 FIFA Club World Cup trophies (2019, 2023).
iv.He won the Adidas Golden Ball at the 2022 FIFA Club World Cup in Rabat, Morocco.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General– Audrey Azoulay
Headquarters– Paris, France
Establishment– 1945 (came into force in 1946)

Vivek Kumar Gupta Appointed as MD of NHSRCL
On 5th February 2024, Vivek Kumar Gupta, a 1988 batch Indian Railways Service of Engineers (IRSE) officer, took charge as the Managing Director (MD) of National High-Speed Rail Corporation Limited (NHSRCL). He succeeds Rajendra Prasad, who has been served as MD of NHSRCL since July 2022.

• Prior to this appointment, he was serving as Principal Executive Director of Gati Shakti at the Railway Board under the Ministry of Railways (MoR).
• He also worked for Mumbai Rail Vikas Corporation (MRVC), and Central & Western Railways of India.

Note:
i.NHSRCL is jointly owned by MoR, the Government of Gujarat and Maharashtra.
ii.It is incorporated as Special Purpose Vehicle(SPV) in 2016 under the Companies Act, 2013 with an object to finance, construct, maintain and manage the High Speed Rail Corridor in India.

Ahmed Awad bin Mubarak Appointed as New Prime Minister of YemenThe Presidential Leadership Council (PLC) of Yemen appointed Dr. Ahmed Awad bin Mubarak as Yemen‘s new Prime Minister (PM) He replaces Dr. Maeen Abdulmalik Saeed who served as PM of Yemen from October 2018 to February 2024.

• Prior to the appointmnet, Ahmed Awad bin Mubarak has been serving as the Minister for Foreign Affairs and Expatriates of Yemen since 2020.
• The outgoing PM Dr. Maeen Abdulmalik Saeed will assume the role of an Advisor to the Chairman of the PLC.

About Ahmed Awad bin Mubarak:
i.He has worked as an Assistant Professor in several Yemeni universities and headed the Business Administration Centre for Graduate Studies at Yemen’s Sana’a University.
ii.He served as the head of the academic group in the Indian Ocean Rim Association (IORA).
iii.In 2013, he was assigned the role of Secretary General of the Comprehensive National Dialogue Conference.
iv.In 2014, he was appointed Director of the Presidential Office (Chief of Staff) and declined the position of PM.
v.In July 2015, he was appointed Ambassador Extraordinary and Plenipotentiary of the Republic of Yemen to the United States of America (USA), in Washington, DC.

• He has also functioned as a non-resident ambassador to Argentina, Brazil, and Mexico.

vi.He was also appointed as the Permanent Representative of Yemen to the United Nations (UN) in 2018.
About Yemen:
President– Rashad Mohammed Al-Alimi
Capital– Sana’a
Currency– Yemeni Rial

IIT Madras partners with MIL for India’s 1st 155mm Smart Ammunition On February 5, 2024, The Indian Institute of Technology Madras (IIT-Madras) in Tamil Nadu (TN) has joined hands with Munitions India Limited (MIL) to develop India’s first 155mm smart ammunition, on the lines of indigenization in the defense sector.
Aim:
i.To increase the accuracy of the 155mm (millimeters) shell within a circular error probable (CEP) of 10 meters, which at present, is 500m.
ii.Another goal is to increase the lethality at the impact point when the ammunition hits the target.
Key Characteristics and Components of Smart Ammunition:
i.The smart ammunition will be guided by the Navigation with Indian Constellation (NavIC) satellites, formerly known as the Indian Regional Navigation Satellite System (IRNSS). Without depending on foreign satellite systems.
ii.The ammunition will be launched from 39 and 45 caliber 155mm artillery guns without changing the gun system.
iii.It will be a fin-stabilised, canard-controlled, and guided shell with a maximum range of 38km and a minimum range of 8km.
iv.Other features include three-mode fuse operation, point detonation, height of burst, and delayed detonation.
About Munitions India Limited (MIL):
Chairman and Managing Director– Ravi Kant
Parent Ministry– Ministry of Defence
Headquarters– Pune, Maharashtra
Establishment– 2021

NASA Discovers Potentially Habitable Planet ‘Super-Earth’ 137 Light-Years Away
A team of researchers from the National Aeronautics and Space Administration (NASA) have identified a potential “super-Earth” called ‘TOI-715 b’ by using the Transiting Exoplanet Survey Satellite (TESS).

• The exoplanet is located 137 light-years away from Earth.

TOI-715 b:
i.TOI-715 b is approximately one and a half times wider than Earth.
ii.It orbits around a small, reddish dwarf star within the conservative habitable zone.
iii.The planet is also expected to attain the right temperature for the formation of liquid water on its surface
iv.The super-Earth completes one full revolution in just 19 days.
– A red dwarf is a type of star smaller and cooler than our Sun.
About TESS:
i.TESS is a space telescope launched by NASA in 2018 to conduct Exoplanetary studies.
ii.It uses the transit method to detect an exoplanet.
Additional Info:
TOI-715 b will be further studied by the James Webb telescope to learn about its properties.
About National Aeronautics and Space Administration (NASA):
Administrator – Bill Nelson
Headquarters – Washington D.C., United States of America(USA)
Established in – 1958

KUFOS & ISRO Partners for NISAR Phase II Research Programme
The Kerala University of Fisheries and Ocean Studies (KUFOS) has partnered with the Indian Space Research Organisation (ISRO) for the second phase of the National Aeronautics and Space Administration (NASA)-ISRO Synthetic Aperture Radar (NISAR) research programme.

• KUFOS stands as one of the key agencies in South India selected to lead the implementation of the second phase.
• The first phase of NISAR validated the ground truth data in the forest biomass of Shimoga(Karnataka), Hoshangabad (Madhya Pradesh), and Nilambur regions (Kerala).
• The second phase will concentrate on optimizing drone-mounted optical and Light Detection and Ranging (LIDAR) data for forest biomass stock estimation.

About NISAR: 
i.NISAR is a Low Earth Orbit (LEO) observatory jointly developed by NASA and ISRO.
ii.NISAR aims to revolutionize Earth observation through a space-borne radar system.
iii.It is scheduled for launch in the first quarter of 2024.

DRDO Successfully Conducts 4 Flight Trials of High-Speed Expendable Aerial Target ‘ABHYAS’The Defence Research and Development Organisation (DRDO) successfully conducted four flight trials of the High-Speed Expendable Aerial Target (HEAT) ABHYAS at the Integrated Test Range (ITR) in Chandipur, Odisha.

• The 4 trials were conducted with different mission objectives in a revised robust configuration using single booster.
• The trials took place between 30th January and 2nd February 2024.

About the Test Trails:
i.The aim of the test trials is to enhance the precision of the 155mm shell to achieve a Circular Error Probable (CEP) of 10 meters, compared to the current 500m CEP. Additionally, there’s a focus on improving lethality upon impact with the target.
ii.The trials achieved mission objectives like safe booster release, launcher clearance, and required launch velocity were achieved, while flight trials validated parameters including endurance, speed, maneuverability, altitude, and range.
Key Points:
i.ABHYAS, designed by DRDO’s Aeronautical Development Establishment (ADE), provides a realistic threat scenario for weapon system practice.
ii.It is designed for autonomous flying using an indigenous autopilot developed at ADE.
iii.It has radar cross-section(RCS), visual, and infrared (IR) augmentation systems for weapon practice.
iv.A laptop-based ground control system facilitates integration, pre-flight checks, data recording, replay, and post-flight analysis.
v.It has minimal logistics requirements and cost-effectiveness compared to imported equivalents.

New Species of Burrowing frog ‘Sphaerotheca Varshaabhu’ Discovered in Bengaluru, KarnatakaResearchers from national and international organisations discovered a new species of burrowing frog named ‘Sphaerotheca Varshaabhu’, found at Budumanahalli near Rajankunte in Bengaluru, Karnataka. It means ‘a genus of frog that welcomes rain’.

• The name Sphaerotheca varshaabhu, or Varshaa burrowing frog, comes from the frog’s behaviour of emerging from burrows during early showers.
• An article on this frog species was published in the international journal, Zootaxa.

Genus and Species:
Genus: Sphaerotheca; Species: Varshaabhu
Sphaerotheca is a genus of frogs that belong to the class Amphibia. Sphaerotheca is part of the Dicroglossidae family, which includes medium-sized burrowing frog species.
Research Team:
The discovery of the new species is a result of collaborative efforts from institutions like Mount Carmel College, JAIN (Deemed-to-be University), Bengaluru; Nanjing Forestry University, Jiangsu, China; Institute of Systematics, Evolution, Biodiversity (ISYEB), Paris (France), Zoological Survey of India (ZSI), and others.
Reason behind its name:
Researchers named the new species “Varshaabhu,” a combination of the Sanskrit words ‘varshaa’ means ‘rain’ and ‘bhu’ for ‘taking birth’.
Features:
i.Varshaa burrowing frogs are considered “medium-sized,” reaching about 1.5 inches in length.
ii.They have “robust, stocky” bodies, “rounded” snouts and “slightly warty skin.”
iii.Overall, it has a blotchy brown colouring with some greenish patches and small orange spots. Its eyes are speckled with metallic bronze.
iv.DNA analysis found in the new species had at least 3% genetic divergence from other burrowing frogs.
Note: The research team noted that earlier in 2020, a new species of burrowing frog named after Bengaluru city, Sphaerotheca Bengaluru, was found in the same area.

Indian Shooter Abhinav Bindra Selected as Torchbearer for Paris 2024 Olympics
Former Indian shooter and India’s first individual Olympic gold medal winner (2008), Abhinav Bindra has been selected as a torchbearer to take part in the Paris 2024 Olympic Torch Relay.

• A total of 11,000 torchbearers have been selected throughout France, with 10,000 participating in the Olympic Torch Relay and 1,000 in the Paralympic Torch Relay.

Paris 2024 Olympic torch relay:
i.The Olympic flame will be lit on 16th April 2024 at the Olympia sanctuary in Greece.

• Within Greece, the Olympic Flame will be moving from the Peloponnese to Athens, boarding the Belem to cross the Mediterranean Sea.

ii.The flame will arrive at Marseille(France) on 8th May 2024.
iii.The flame will then make a 68-day journey across 65 French territories and reach Paris for the Opening Ceremony on 26th July 2024.
Note: Abhinav Bindra, is also a member of the Athletes Commission of the International Olympic Committee (IOC) since June 2023.

Safer Internet Day 2024- February 6 Safer Internet Day (SID) is annually observed across the globe on the 2nd day(Tuesday), of the 2nd week, of the 2nd month (February) to promote safer, better, and more responsible use of the Internet for all, especially for children and young people.

• The annual event promotes the safe and responsible use of digital technology. It helps to raise awareness about online threats and ways to stay safe.

SID 2024 is observed on 6 February 2024, marking the 21st edition of SID.

• The 20th edition of SID, SID 2023 was observed on 7 February 2023.
• The 22nd edition of SID, SID 2025 will be observed on 4 February 2025.

Cabinet Approvals on 1st February 2024On February 1, 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following schemes and initiatives:
i.Extension of Animal Husbandry Infrastructure Development Fund(AHIDF).
ii.Extension of Scheme of Sugar Subsidy for Antyodya Anna Yojna (AAY) Families under the Public Distribution Scheme (PDS).
iii.Continuation of Scheme for Rebate of State and Central Taxes and Levies for export of Apparel/Garments.
iv.Approves marketing margin for the supply of Domestic gas to Fertilizer(Urea) for the Period May 2009 – November 2015.
v.Signing and ratification of the Bilateral Investment Treaty between India and the United Arab Emirates(UAE).
About the United Arab Emirates(UAE).
President- Mohamed bin Zayed Al Nahyan
Capital- Abu Dhabi
Currency- Emirati Dirham (AED)

IIRF’s Top MBA Colleges in India 2024: IIM-Ahmedabad Ranked First in Government Colleges CategoryAccording to the Indian Institutional Ranking Framework(IIRF)’s Top Master of Business Administration (MBA) Colleges in India – 2024, the Indian Institute of Management (IIM), Ahmedabad (Gujarat), has topped among the Top Government MBA colleges in India. 

• In the 2024 MBA Colleges ranking, Xavier Labour Relations Institute (XLRI), Jamshedpur (Jharkhand), has topped among the Top Private MBA colleges in India.

Note: IIM Ahmedabad has emerged as the top-ranked college (Overall among Government & Private) in India, based on an overall index score of 937.24.
Click here to view full ranking list

INCOIS Celebrates Silver Jubilee: Launched new satellite data facility & Unveiled special postal stampOn 3rd February 2024, Indian National Centre for Ocean Information Services (INCOIS) launched a new Satellite Data Acquisition and Processing Facility and unveiled a special postal stamp “INCOIS My Stamp” as a part of its INCOIS Foundation day – Silver Jubilee (25 years) celebration held in Hyderabad, Telangana.

• INCOIS, a unit of Earth System Science Organisation (ESSO), was established as an autonomous body in 1999 under the Ministry of Earth Sciences (MoES).

The celebration was held as a part of the Indian Ocean Regional Decade Conference 2024 held from 1st to 3rd February 2024 at INCOIS in Hyderabad, Telangana.
Key People:
Ravichandran, Secretary of MoES, Vijay Kumar Saraswat, Member of NITI Aayog (National Institution for Transforming India) and Distinguished scientists were present during the event.
Satellite Data Facility:
i.The new cutting-edge satellite data acquisition and processing facility (Oceansat3 and X/L band ground station) is designed to handle data from Oceansat3 and other advanced satellites.

• Oceansat3 is a satellite designed for ocean observation and data acquisition.

ii.This is in line with INCOIS’s effort to stay at the forefront of technology and enhancing its oceanographic data capabilities.
INCOIS My Stamp:
P.V.S. Reddy, Chief Post Master General for Telangana circle, presented the special stamp “INCOIS My Stamp” to Tummala Srinivasa Kumar, Director of INCOIS.
The stamp symbolizes the INCOIS’s contributions to ocean science and service.
Note: During the event, INCOIS released the book titled “INCOIS 25-Year Journey” (Hindi and English) bilingual retrospectives of the institute’s 25-year journey.
Indian Ocean Regional Decade Conference 2024:
Decade Collaborative Centre for the Indian Ocean Region (DCC-IOR) organised the “Indian Ocean Regional Decade Conference 2024: Bridging Billions to Barcelona” at INCOIS in Hyderabad, Telangana.

• The conference was held under the Ambit of the United Nations’s Decade of Ocean Science for Sustainable Development (2021-2030).
• This is an official prelude to the 2024 Ocean Decade Conference which will be held from 10 – 12 April 2024 in Barcelona, Spain.

The conference was sponsored by MoES and technical support was provided by the Intergovernmental Oceanographic Commission (IOC) of  United Nations Educational, Scientific and Cultural Organization (UNESCO).
About Indian National Centre for Ocean Information Services (INCOIS):
Director – Tummala Srinivasa Kumar
Headquarters – Hyderabad, Telangana
Established in 1999

Mukesh Ambani Tops Among Indians and Ranks 2nd Globally on the Brand Guardianship Index 2024Mukesh Ambani, Chairman, and Managing Director (CMD) of Reliance Industries Limited (RIL), has been ranked 1st among all Indians and 2nd globally in the Brand Guardianship Index (BGI) 2024 compiled by Brand Finance, the world’s leading brand valuation firm. Brand Finance’s survey gave Mukesh Ambani a BGI score of 80.3.

• Huateng Ma, Chairman, and Chief Executive Officer (CEO) of Chinese internet giant Tencent Holdings recognised as the world’s leading CEO in the 2024 BGI, for his guardianship of the WeChat brand with a BGI score of 81.6.
• NVIDIA CEO Jensen Huang ranked 3rd globally followed by Apple Inc‘s Tim Cook (4th), and TATA Sons‘ Natarajan Chandrasekaran (5th).

About Brand Finance:
Chairman and CEO– David Haigh
Headquarters– London, United Kingdom
Founded in– 1996

Exim Bank Received Rs 9,013.72 from MEA after Invoking GoI GuaranteesThe Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to the Export-Import Bank of India (Exim Bank) after the bank invoked Government of India (GoI) guarantees on decade-old loans extended to some African countries.

• These loans were classified as “doubtful debts”  in Financial Year(FY) 2023-24.

Background:
i.The Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) has supported Lines of Credit (LOCs) to foreign countries under the Indian Development and Economic Assistance Scheme (IDEAS).
ii.These countries include Asia (excluding Bangladesh, Nepal, and Bhutan) Africa, the Commonwealth of Independent States (CIS) region and the Latin American region.
iii. Since 2003-04, LoC is supported by EXIM Bank.
Key Points:
i.Exim Bank had to invoke guarantees due to non-performing assets (NPAs) of the loans given to African countries.
ii.Once guarantees are invoked, the funds are paid out of the Guarantee Redemption Fund established in the Public Account of India since 1999-2000.
Additional Funds:
i.MEA has also allocated Rs 4,383.40 crore for FY25 for potential future guarantees.
ii.An amount of Rs 4,655 crore was sanctioned as an advance from the Contingency Fund of India (CFI).
About Export-Import Bank of India (Exim Bank):
Managing Director(MD) – Harsha Bangari
Headquarters – Mumbai, Maharashtra
Established in – 1982

CRISIL Report: Indian Economy to Grow at 6.7% between Fiscals 2024-2031 According to the CRISIL (formerly Credit Rating Information Services of India Limited) report titled “Indian Economy: Capital as Growth Driver”, Indian economy is expected to grow at an average rate of 6.7% per year between fiscals 2024 and 2031. This is slightly higher than the pre-pandemic decadal  average of 6.6%.

• Capital was identified as the key contributor, stemming from the government’s investment-driven strategy post-pandemic.

Key Points:
i.After a robust 7.3% growth in fiscal year 2023, CRISIL projects a moderation to 6.4% fiscal year 2024, attributing it to cyclical factors.
ii.In 2024, Global economy is expected to decelerate, and the impacts of the Reserve Bank of India’s (RBI) rate hikes on domestic demand will become apparent.
iii.Additionally, the report emphasises the importance of monitoring the Middle East conflict’s impact on energy and logistics costs.
iv.According to the report, In India, the inflation level of 5.7% in December 2023 was driven solely by volatile vegetable prices and food-grain inflation.

• It keeps RBI cautious towards achieving the 4% inflation target.
• Core inflation decline and fuel price deflation are positive, but high food price levels of the food items, which have substantial weight in the consumer price index (CPI), pose a transmission risk to non-food components.

Government Initiatives:
i.The government’s increased capital expenditure and interest-free loans to states drive the capital-led growth strategy.
ii.The focus on infrastructure build-up aims to counteract the private sector’s initial hesitancy towards investments.
Global Dynamics:
i.The expected rate cut by the United States of America (US) Federal Reserve raises uncertainties.
ii.Strong US labour market data and persistent inflation challenge the anticipated timing and extent of the rate cuts in 2024.

Nangolo Mbumba Took Oath as Interim President of Namibia Following the Death of Hage Gottfried GeingobNangolo Mbumba, the Republic of Namibia’s former Vice President (VP), took oath as the interim President, following the sudden death of his predecessor, Hage Gottfried Geingob, at the age of 82.

• He will be serving the post till the conduct of new election in later 2024.

About Nangolo Mbumba:
i.Nangolo Mbumba is a member of the South West Africa People’s Organization (SWAPO).
ii.He served as the second VP of Namibia since 2018.
iii.Prior to that, he acted as secretary-general of SWAPO from 2017.
iv.He also been as Union Minister of Namibia since 1993 holding various portfolios such as Minister of Agriculture, Water and Rural Development, Minister of Finance, Minister of Information and Broadcasting, Minister of Education and Minister of Safety and Security.
About Hage Geingob:
i.Hage Geingob became the first Prime Minister(PM) of Namibia in 1990 and served in that position until 2002.
ii.He is also a member of the Namibian political party SWAPO.
iii.He was again appointed as PM in 2012 until winning the 2014 Presidential election.
iv.In 2015, he was made the 3rd President of Namibia.
iv.In 2019, he was re-elected for another five-year term and served the post till his death.
Other Appointment:
Netumbo Nandi-Ndaitwah, who previously served as the Deputy Prime Minister and Minister of International Relations and Cooperation, was appointed as the new vice president of Namibia.
About Republic of Namibia:
President – Nangolo Mbumba
Capital- Windhoek
Currency – Namibian Dollar

China Launched Jielong-3 with 9 Satellites and Long March-2C with 11 Geely-02 SatellitesThe China Aerospace Science and Technology Corporation’s (CASC) Jielong-3, or Smart Dragon-3 rocket, successfully launched nine satellites into the Sun-Synchronous Orbit (SSO), off the coast of Yangjiang in southern Guangdong province, China.

• The launch was coordinated by the Taiyuan Satellite Launch Center, and it was the third successful mission for the Smart Dragon-3 launch vehicle.

About China:
President– Xi Jinping
Premier– Li Qiang
Capital– Beijing
Currency– Chinese yuan renminbi

Indian Navy received the First 25T BP Tug ‘Yard 305 – Mahabali’ 
On 2nd February 2024, the first 25T Bollard Pull (BP) Tug, named ‘Yard 305 – Mahabali’ was delivered to the Indian Navy (IN) at Naval Ship Repair Yard (NSRY) in Kochi, Kerala in the presence of Rear Admiral Subir Mukherjee, Admiral Superintendent of NSRY (Kochi).
Background:
i.The contract for construction and delivery of three 25T BP Tugs was concluded with M/s Shoft Shipyard Pvt Ltd (M/s SSPL), a Thane (Maharashtra) based Micro, Small & Medium Enterprises (MSME), in November 2021.
ii.The three 25T BP Tug are: Yard 305 – Mahabali, Yard 306 – Baljeet and Yard 307 – Bajran. These Tugs are built under the classification rules of the Indian Register of Shipping (IRS).
Benefits: These tugs will improve the operational commitments of the IN by facilitating assistance to Naval ships and submarines during berthing and un-berthing, turning and manoeuvring in confined waters. This will also provide afloat firefighting assistance to ships and will have the capability to conduct limited Search and Rescue Operations.

Indian Navy Commissioned Survey Vessel INS Sandhayak (Yard 3025) in Visakhapatnam
On 3rd February 2024, the Indian Navy (IN) commissioned the Indian Naval Ship (INS) Sandhayak (Yard 3025), the first of four Survey Vessel Large (SVL) ships, at the Naval Dockyard, Visakhapatnam, Andhra Pradesh, in the presence of Union Minister Rajnath Singh, Ministry of Defence (MoD), and Indian Navy Chief Admiral R. Hari Kumar.

• The contract for building four SVL ships was signed between the MoD and Garden Reach Shipbuilders & Engineers Limited (GRSE).
• The ship was launched in 2021.
• It is equipped with state-of-the-art hydrographic equipment including Deep & Shallow Water Multibeam Echo-Sounders, Autonomous Underwater Vehicle, Remotely Operated Vehicle, Side scan sonars, Data Acquisition and Processing System, satellite-based positioning systems and terrestrial survey equipment.
• SVL ships are 110 meters long, and 16 meters wide with a displacement of 3,400 tons.
• The other three SVL are Nirdeshak (Yard 3026), Ikshak (Yard 3027), and Sanshodhak (Yard 3028)

CDS Anil Chauhan unveils Book ‘Artificial Intelligence and National Security’ at Defence Lit Fest in Pune
Chief of Defence Staff General Anil Chauhan unveiled a book titled ‘Artificial Intelligence and National Security’, written by Amit Sinha and Vijay Khare and published by Pentagon Press at the Defence Literature Festival, “Kalam and Kavach,” in Pune(Maharashtra).

• The book ‘AI and National Security’ explains about the application of Artificial Intelligence (AI) in national security. It also examines India’s AI development in comparison with global powers and insights into government initiatives.
• The first edition of the Defence Literature Festival, Kalam and Kavach was organised by Army Southern Command along with Pentagon Press.
• Another book titled“Ukraine, Gaza, Taiwan…… A World at War” written by Ajay Singh was released at the event.

Vice President Jagdeep Dhankhar launched a Book “Transforming HARYANA” by Kuldip Chand Agnihotri
Jagdeep Dhankhar, Vice President (VP) of India, released the book titled “Transforming HARYANA: 9 Incredible Years of Haryana Government” edited by Kuldip Chand Agnihotri, Former Vice-Chancellor, Central University of Himachal Pradesh, Dharamshala, Himachal Pradesh.

• The hindi translation of the book under the title “हरियाणा सरकार के 9 अतुलनीय वर्ष: एक नए एवं जीवंत हरियाणा का उदय“(9 Incredible Years of Haryana Government: Emergence of a New and Vibrant Haryana) was also released. The book was translated by litterateur and writer Dr. Shamim Sharma.

Key People: The book was launched in the presence of Manohar Lal Khattar, Chief Minister (CM) of Haryana and Bandaru Dattatreya, Governor of Haryana.
About the book:
i.The book was published by OakBridge Publishing Private Limited.
ii.The foreword of the book is written by Ram Nath Kovind, Former (14th) President of India (2017 to 2022).
iii.The book features 3 types of articles.

• Articles by scholars expressing their opinion on various schemes of the Haryana government.
• Articles by officers of Haryana government regarding implementation of the schemes.
• Articles by scholars working in the academic field explaining the long-term impacts of these schemes.

International Day of Human Fraternity 2024- February 4 The United Nations (UN) International Day of Human Fraternity is annually observed across the globe on 4 February to promote peace, tolerance, inclusion, understanding, and solidarity between all people of diverse faiths.
International Day of Human Fraternity falls in the middle of World Interfaith Harmony Week (WIHW), an annual event observed during the 1st week of February, since 2010.

• 4 February 2024 marks the observance of the 4th International Day of Human Fraternity.

Background:
i.On 21 December 2020, the United Nations General Assembly (UNGA) adopted the resolution A/RES/75/200 and proclaimed the 4 February of every as the International Day of Human Fraternity.
ii.The 1st ever International Day of Human Fraternity was observed on 4 February 2021.
About United Nations Alliance of Civilizations (UNAOC):
High Representative– H.E. Mr. Miguel Ángel Moratinos
Headquarters–  New York, United States of America (USA)
Established in 2005

World Cancer Day 2024- February 4 World Cancer Day (WCD) is annually observed across the globe on 4 February to raise awareness of fundamental cancer issues and to encourage its prevention, detection, and treatment.
WCD is an international campaign that aims to remember and honour those affected by cancer, and to take action to change the future of cancer.

• The campaign theme of WCD 2022-2024 is, ‘Close the Care Gap’. 2024 marks the 3rd and final year of the campaign.
• The campaign theme of WCD 2024 is, “Close the Care Gap: Together, we challenge those in power.”

Cancer Ribbon: A lavender ribbon is usually a sign of support for those living with all types of cancer.

• The official colours of World Cancer Day are blue and orange.

Background:
i.On 4 February 2000, WCD was established by the Charter of Paris Against Cancer.
ii.The Charter comprising 10 articles was adopted at the World Summit Against Cancer for the New Millennium in Paris, France.
iii.Under Article X, the Charter officially proclaimed World Cancer Day and was decided to observe on 4 February of each year.
iv.The 1st WCD was observed on February 4, 2000.

NRLPS Signs MoU with BRAC International for Economic Inclusion & Social Protection of Poor National Rural Livelihood Promotion Society (NRLPS), an autonomous body under the Ministry of Rural Development (MoRD) signed a Memorandum of Understanding (MoU) with BRAC International, for the inclusion of the poorest of the poor under Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
Note: DAY-NRLM is a flagship poverty alleviation program under MoRD.
Signatories:
The MoU was formalised by Charanjit Singh, Additional Secretary and Chief Executive Officer (CEO) of NRLPS; and Ms. Shweta S Banerjee, Country lead for India, BRAC International.
Strategic Partnership for Inclusive Mobilisation:
i.DAY-NRLM dedicated to universal and inclusive mobilization, has already mobilised 100 million rural poor households.
ii.Now, the focus is on uplifting ‘lakhpati didis’ through Samaveshi Aajeevika, an inclusive livelihood program.
iii.It also aims to ensure the inclusion of the most marginalised in the Self-Help Group (SHG) movement.
Samaveshi Aajeevika Program:
i.It aims to build self-confidence, social inclusion, and prosperity through inclusive livelihoods at the last mile.
ii.The program will introduce holistic productive inclusion strategies to improve the lives of excluded populations.
iii.It will adapt the globally tested and proven “Graduation approach” to the DAY-NRLM program to reach households facing difficulties benefiting from the SHG net.
Points to Note:

• BRAC International is a Global South-led nonprofit organisation with a mission to empower people and communities in situations of poverty, illiteracy, disease, and social injustice.
• It was originally founded in 1972 as the Bangladesh Rehabilitation Assistance Committee, later it was known as the Bangladesh Rural Advancement Committee.

About Ministry of Rural Development (MoRD):
Union Minister– Giriraj Singh (Constituency: Begusarai, Bihar)
Ministers of State– Faggan Singh Kulaste (Constituency: Mandla, Madhya Pradesh); Sadhvi Niranjan Jyoti (Constituency: Fatehpur, Uttar Pradesh)

Indian Navy Declared Year 2024 as ‘Year of Naval Civilians’ The Indian Navy has declared 2024 as the ‘Year of Naval Civilians‘ with a focus on enhancing administration, efficiency, and the well-being of its civilian workforce.

• This strategic initiative focuses on addressing key aspects of Civilian Human Resource (HR) Management within a defined timeframe.

Key Focus Areas for 2024:
The major focus areas identified for implementation in 2024 include maximising administrative efficiency; digital initiatives; generic and specific training programs; and welfare activities.
Naval Civilian Personnel:
i.Naval civilian personnel, constituting about one-third of the Indian Navy’s workforce, play a pivotal role in operational effectiveness across diverse domains.
ii.The role of Civilian personnel impacts the overall performance of Indian Navy’s Command Headquarters, Dockyards, Material Organisations, Naval Armament Inspectorates, etc.
Past Initiatives and Future Outlook:
i.Several initiatives have been previously undertaken to enhance organisational efficiency and satisfaction levels among civilian personnel.
ii.It continued emphasis on administration, training, welfare, and more to ensure that the Indian Navy maintains its status as a combat-ready, credible, cohesive, and future-proof force.
About Indian Navy:
Chief of the Naval Staff (CNS) – Admiral R Hari Kumar
Headquarters– New Delhi, Delhi
Motto– “Sam no Varunah”, meaning: “Be auspicious unto us Oh Varuna”.

MNRE Issues Guidelines for Pilot Projects for Utilizing Green Hydrogen in the Shipping & Steel SectorOn 1st February 2024, the Ministry of New & Renewable Energy (MNRE) released the guidelines of the “Scheme of Pilot Projects on Use of Green Hydrogen in the Shipping Sector” under the National Green Hydrogen Mission(NGHM).

• The total budget outlay for the implementation of the scheme till the financial year(FY) 2025-26 is Rs 115 crore.

On 2nd February 2024, MNRE released guidelines for the “scheme for pilot projects on the use of Green Hydrogen in the steel sector” under NGHM.

• The total budget outlay for the implementation of the scheme till the FY 2029-30 is Rs 455 crore.

Note: Under the NGHM, MNRE will undertake pilot projects in the shipping sector and steel sector to replace fossil fuels and fossil fuel-based feedstock with Green Hydrogen and its derivatives (like green ammonia, green methanol).
About the Ministry of New & Renewable Energy (MNRE):
Union Minister– Raj Kumar Singh (Constituency- Arrah, Bihar)
Minister of State(MoS)– Bhagwanth Khuba (Constituency- Bidar, Karnataka)

MHA instituted Kendriya Grihmantri Dakshata Padak by Merging Four MedalsOn 1st February 2024, Ministry of Home Affairs (MHA) has instituted a new medal named ‘Kendriya Grihmantri Dakshata Padak’ by merging four existing medals

• Union Home Minister’s Special Operation Medal
• Union Home Minister’s Medal for Excellence in Investigation
• Asadharan Assuchana Kushalata Padak
• Union Home Minister’s Awards for Meritorious Service in Forensic Science

About Kendriya Grihmantri Dakshata Padak:
i.The medal will only be awarded for the successful conduct of significant operations with a direct impact on the security of the State/union territory (UT), region, or country, in areas such as Counter-Terrorism, Border Action, Arms Control, Left Wing Extremism, Prevention of Narcotics Smuggling, and Rescue Operations.
ii.Personnel of the Central Board of Indirect Taxes and Customs (CBIC), Ministry of Finance (MoF) may also be considered for award under the area of “Prevention of Narcotics Smuggling”.
Features:
i.The medal shall be circular in shape with 38 mm in diameter, and 3 mm in thickness.
ii.The medal will be made up of Silver gold gilt and the riband will be half blue and half red.
Design:
On Obverse:
i.Centre: Embossed symbol of “face of Sardar Patel“
ii.Below: “Jai Bharat” (Hindi)
iii.Upper edge: “Rashtra Prahari” (Hindi)
iv.Lower edge: “Sentinel of the Nation” (English)
On the reverse:
i.Centre: Embossed symbol of “Ashoka Chakra”
ii.Below: “Satya Seva Suraksha” (in Hindi)
iii.Upper edge: “Kendriya Grihmantri Dakshata Padak” (in Hindi)
iv.Lower edge: “Kendriya Grihmantri Dakshata Padak” (in English)
Note: The Hindi and English inscription will be separated by a small Star appearing on either side.
Bar of Kendriya Grihmantri Dakshata Padak:
Deed worthy of recognition by the medal perfomed by a person who has already received the award will be recognised by a Bar attached to the riband. For each bar a small silver rose with gold gilt will be added to the riband when worn alone.

Chennai Metro Becomes the First Metro Service to join ONDC
Chennai Metro Rail Limited (CMRL) launched its ticketing services on Open Network for Digital Commerce (ONDC) network and became India’s first metro rail service to join ONDC. 

• The passengers of Chennai Metro can purchase their journey tickets through buyer applications on the ONDC Network such as Rapido, Namma Yatri, and redBus.
• Yaary became the first seller-side technology partner for CMRL.

IRDAI released Guidelines to Insurance Companies on Covering AYUSH in Health Insurance policiesThe Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines mandating general and health insurance companies to cover Ayurveda, Yoga & Naturopathy, Unani, Siddha, Sowa Rigpa and Homoeopathy (AYUSH) treatments in their health insurance policies with effect from 1st April 2024.

• The circular was issued in terms of Section 14(2)(b) of the IRDA Act,1999.
• For this purpose, the Ministry of Ayush(MoA) constituted a ‘Core Group of Experts for the Insurance Sector’ in 2023.

Board Approved Policy:
i.As per the circular, insurers are mandated to have a Board-approved policy for providing AYUSH coverage.
ii.Such policy should outline the insurer’s approach in treating AYUSH procedures in a similar way as other treatments.
iii.The policyholders should also be provided with an option to choose AYUSH treatments of their choice.
iv.Additionally, the policy must specify the procedures for enrolling AYUSH Hospitals/Day Care Centers as network providers, facilitating cashless facilities.
Product Modification:
Insurers are required to modify existing products that impose limitations on AYUSH treatments, ensuring compliance with the new guidelines.
Standard Operating Procedures (SOP):
Insurers must establish adequate controls and SOPs for enrolling hospitals into their network, incorporating necessary clauses in health service agreements with AYUSH Hospitals/Day Care Centers, implementing standard treatment protocols, and addressing potential fraud and abuse within the system.
Additional Info:
The guidelines don’t apply to the insurance cover offered by ECGC Limited (formerly known as Export Credit Guarantee Corporation of India Limited)  and Agriculture Insurance Company of India Limited (AIC).
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Established in – 1999 (Incorporated in 2000)

India’s UPI was Launched at Eiffel Tower in Paris, France
The Unified Payments Interface (UPI) was formally launched at the Eiffel Tower in Paris, France. For this purpose, NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI), partnered with Lyra Network, a French e-commerce and proximity payment platform, to facilitate the acceptance of UPI payments in Europe.

• Indian tourists can use UPI to purchase their tickets to visit the Eiffel Tower
• The announcement was made in the 75th Republic Day Reception Event organised in Embassay of India, Paris by M Jawed Ashraf, the Ambassador of India to France and Monaco.

ESAF SFB & Edelweiss Tokio Life partners to offer Life Insurance Products
Thrissur (Kerala) based ESAF Small Finance Bank(SFB) announced a bancassurance partnership with Edelweiss Tokio Life Insurance Company Limited to offer life insurance products to a wider range of customers, particularly those in underserved communities.

• By leveraging ESAF’s strong presence in rural areas, the partnership aims to make life insurance more accessible to people who might not have considered it before.

Note- Edelweiss Tokio Life Insurance is a joint venture(JV) between Edelweiss Financial Service Limited and Tokio Marine Holdings Inc. of Japan.

Fitch Ratings on India’s Interim Budget 2024-2025: Forecasts FY25 Fiscal Deficit at 5.4% of GDPFitch Rating, an internatinal credit rating agency, stated that the interim Budget of 2024-2025 by the Government of India does not change the sovereign credit profile of India.

• Fitch Ratings estimates that India’s fiscal deficit for financial year 2024-2025 (FY25) to reach 5.4% of Gross Domestic Product (GDP), which is above the budget target of 5.1%.

Note: Fitch Ratings is a leading provider of Credit Ratings, Research, and Analysis for the global financial markets.
Key Points:
i.Trgeting of 5.1% of GDP deficit in FY25 demonstrates that the government’s commitment to reduce the deficit and achieve the deficit target of 4.5% by FY26 while maintaining a critical focus on infrastructure development.
ii.The government revised the FY24 fiscal deficit to 5.8% from 5.9% budgeted for the year.
Government’s Fiscal Strategy:
i.The fiscal deficit and government debt ratio in India are notably high compared to peer medians.
ii.The government’s emphasis on deficit reduction aims to stabilize the debt ratio over the medium term.
Growth Outlook:
i.Fitch Ratings anticipates continued emphasis on capital expenditure (capex) to support India’s growth outlook in FY25.
ii.Real GDP growth of 6.5% is expected in FY25, reflecting the positive impact of sustained capex investments.
iii.The government plans to spend Rs 11.11 lakh crore on capex in FY25, marking a 16.9% increase compared to FY24’s revised estimates.
Long-Term Debt Projections:
i.Fitch Ratings projects India’s government debt-to-GDP ratio to be stable, slightly above 80% for the next 5 years.
ii.The stability is attributed to gradual deficit reduction oath and robust nominal growth, estimated at around 10.5% of GDP.
Fitch Ratings’ Perspective:
i.The presented budget aligns with Fitch Ratings’ expectations, with a slightly accelerated deficit reduction pace maintaining the ‘BBB-‘ rating with a Stable Outlook in January 2024.
ii.BBB ratings (Good credit quality) classified as investment grade, indicate that expectations of default risk are currently low.

• The capacity for payment of financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity.

Modi Enterprises Chairperson Bina Modi honoured as ‘Outstanding Business Woman of the Year 2023’Union Minister, Rajnath Singh, Ministry of Defence(MoD) honoured Dr Bina Modi, Chairperson of Modi Enterprises, KK Modi Group, with the “Outstanding Business Woman of the Year – 2023′ Award. The award recognised her contributions to the industry.
The award was presented during the Indo-American Chamber of Commerce (IACC) conference held in New Delhi, Delhi.
About Dr Bina Modi: 
i.Dr Bina Modi is also the President and Managing Director(MD) of Godfrey Phillips India and Chairman and MD of Indofil Industries Limited (agro-chemical manufacturer).
ii.Some of the brands that she created include Bina Fashions, Ego Thai, Ego Italian, and luxury and lifestyle businesses.
iii.Award-

• Dr. Bina Modi has been awarded the “Women of the Decade in Business & Leadership 2018” by Women Economic Forum
• She has also featured on India’s Most Powerful Women, a book by Prem Ahluwalia (2016).

Note: Modi enterprise oversees around 12 brands.
IACC Conference: 
i.The IACC conference on “Strengthening Indo-US Relationship in Amritkal-Aatmanirbhar Bharat” witnessed the participation of the Ambassador of the United States of America (USA) to India Eric Garcetti and representatives of IACC.
ii.The conference was chaired by Dr. Lalit Bhasin, former National President of IACC & Managing Partner, Bhasin & Co., Advocates.
About Indo-American Chamber of Commerce (IACC): 
It is the apex bi-lateral Chamber synergizing India-US Economic Engagement.
National President– Pankaj Bohra
Established in 1968
Headquarters– Mumbai, Maharashtra

Champai Soren sworn in as CM of Jharkhand; Hemant Soren ResignedOn 2nd February 2024, Champai Soren (67), leader of the Jharkhand Mukti Morcha (JMM) party, was sworn in as the Chief Minister (CM) of Jharkhand.

• Jharkhand Governor C. P. Radhakrishnan administered the oath of office and secrecy at the Raj Bhavan complex in Ranchi, Jharkhand.
• Champai Soren succeeded Hemant Soren (JMM party), who resigned from the post on 31st January 2024.

Note: Hemant Soren was arrested by the Enforcement Directorate (ED) in a land fraud case. He became the first sitting CM of Jharkhand to be arrested in a corruption case.
Key Points:
i.Champai Soren is a Member of the Legislative Assembly (MLA) from Seraikella Constituency of Jharkhand.
ii.Before the appointment as CM, he was serving as the Minister of Transport, Scheduled Tribes, Scheduled Castes and Backward Classes Welfare of Jharkhand
iii.Other Appointments: Alamgir Alan (Indian National Congress-INC) and Satyanand Bhogta(Rashtriya Janata Dal- RJD) also took oath as ministers.
Floor Test*:
i.Champai Soren had been given 10 days to prove his government’s majority. (Majority mark: 41)
ii.The majority alliance has 47 MLAs — JMM 29, Congress 17 and RJD 1 in the 81 member Jharkhand Assembly.
iii.The BJP has 26 members and the AJSU Party has 3. The NCP and CPI (ML) have one lawmaker each, apart from two Independents.
*Floor test is a measure to determine wheather a government has the confidence of the legislature. This is also terms as “trust vote”.
About Champai Soren:
i.Champai Soren, popularly known as “Jharkhand’s Tiger”, is one of the founding members of the JMM party.
ii.He was first elected as MLA from Saraikela constituency in 1991
iii.He served as a cabinet minister in the government led by Arjun Munda from 2010 to 2013.
iv.He has also served as Jharkhand’s Minister of Food, Civil Supplies and Transport from 2013-14 under the leadership of Hemant Soren.
About Jharkhand:
Chief Minister – Champai Soren
Governor – C. P. Radhakrishnan
National Park – Betla National Park
Wildlife Sanctuary – Dalma Wildlife Sanctuary, Lawalong Wildlife Sanctuary

US State Dept Approves USD 4 billion sale of 31 MQ-9B Armed Drones and Equipments to IndiaThe United States(US) Department of State has approved the sale of 31 MQ-9B Armed Drones and other related equipments to India. The estimated cost of the deal is around USD 3.99 billion (Rs 33060 crore).

• The Defence Security Cooperation Agency of the United States of America(USA) issued the required certifications.

Key Point: 
i.The acquisition of MQ-9B will help the US-India Strategic relationship and support the foreign policy and national security objectives of the USA.
ii.This will also improve the capabilities of India to address the threats by enabling unmanned surveillance and reconnaissance patrols in sea lanes of operation.
iii.These 31 drones will be utilised by the Indian Army, Navy and the Air Force.

• The Indian Navy will get 15 SeaGuardian drones and the Army and the Air Force will get eight each of the land version of the drones – SkyGuardian.

About MQ-9B: 
i.MQ-9B, manufactured by the USA-based General Atomics Aeronautical, has 2 variants – Sky Guardian and Sea Guardian.
ii.It is a Remotely Piloted Aircraft System (RPAS) used for offensive missions, reconnaissance, surveillance and intelligence operations.
iii.MQ-9B, termed as High Altitude Long Endurance (HALE) drone, can fly up to 40+ hours.
iv.It can carry laser-guided four Hellfire Missiles and 450kg bombs.
Other Related Equipments and Missiles:
The USD 3.99 billion deal also includes  161 Embedded Global Positioning & Inertial Navigation Systems (EGIs), 170 AGM-114R Hellfire missiles, 16 M36E9 Hellfire Captive Air Training Missiles (CATM),etc.
Background: 
i.During his visit to the USA in 2023, Prime Minister (PM) Narendra Modi announced India’s proposal to purchase 31 MQ-9B Predator (“Reaper”) drones.
ii.The USA government headed by President Joe Biden approved this in a government-to-government deal.
iii.India’s Defence Acquisition Council accorded the Acceptance of Necessity for the acquisition of the MQ-9B drones from the USA under the foreign military sale route.
About the United States of America(USA): 
President– Joseph Robinette Biden Jr (Joe Biden)
Capital– Washington, D.C.
Currency– United States dollar(USD)

Padma Shri Awardee Dr Nitya Anand, Developer of India’s 1st Oral Contraceptive Pill, Passed AwayPadma Shri Awardee Dr Nitya Anand, the developer of India’s 1st oral contraceptive pill ‘Saheli‘ passed away at the age of 99 in Lucknow, Uttar Pradesh(UP). He was born on 1st January 1925, at Layallpur, West Punjab (now in Pakistan). He was a renowned Medicinal Chemist and Scientist.

• He was honoured with the Padma Shri for Medicine in 2012.

About Dr. Nitya Anand:
i.On 27th March 1951, he joined the Medicinal Chemistry Division of the Central Drug Research Institute (CDRI) in Lucknow as Scientist.
ii.He served as the Head of the Medicinal Chemistry Division (1963-1974) and served as the Director of CDRI from 1974-1984.
iii.He worked with the Government of India (GoI) for nearly forty years, helping to design various drug policies.

• He was a member of the Scientific Advisory Committee to the Cabinet of the GoI (1981-83); and
• Chairman of the Indian Pharmacopoeia Committee of the GoI since 1978.

Innovation:
i.He played a vital role in the discovery of ‘Saheli,’ scientifically known as Centchroman (Ormeloxifene), the 1st non-steroidal oral contraceptive pill anywhere in the world.
ii.This innovation marked the world’s first non-steroidal once–a–week oral contraceptive drug that gave women the freedom to decide about pregnancy.

• This is the only anti-implantation agent approved for clinical use in the world.

Note: The pill ‘Saheli’ was launched in 1995 under the National Family Welfare Programme.  In 2016, the GoI of India reintroduced Saheli as part of the National Family Planning program

Padma Shri Awardee & Veteran Odia Actor Sadhu Meher Passed AwayRenowned Odia actor-director and Padma Shri Awardee Sadhu Meher passed away in Mumbai, Maharashtra at the age of 84. He was born on January 1, 1940, in Boudh district of Odisha. He was also a writer and producer.
Awards/Honours:
i.In 1974, he won the National Award for Best Actor for his performance in Shyam Benegal’s debut film Ankur (The Seedling).

• He was the 1st Odia Actor to be honoured with National Award.

ii.In 2011, the Odisha government felicitated him with Jaydev Samman for his lifetime contribution.
iii.He was awarded the Padma Shri for Art in 2017.
About Sadhu Meher:
i.He started his career as an actor in Hindi movies and later acted in Odia movies. He is also recognised as a prominent filmmaker in both Hindi and Odia film industries.
ii.In the Hindi, he dubted in the “Bhuvan Shome” (1969), directed by Mrinal Sen, which won the 3 national awards (for Best Film, Best Director, and Best Actor) in 1970.
iii.He also starred in “Icchapuram” (1970), the only children’s film directed by Mrinal Sen based on a story by Rabindranath Tagore.
iv.He also acted in several episodes of Doordarshan’s popular detective series Byomkesh Bakshi.
v.He worked in the Odia film industry, acting in nearly 38 films, and directed 5 movies namely – Abhimaan (1977), Aparachita (1980), Abhilasha (1983), Gopa Re Badhhuchhi Kala Kanhei (1994) and Babula (1985)
Notable Movies: “Nishant” (1975) and “Manthan” (1976); “Hum Aapke Dil Mein Rehte Hai” (1999).

Union Minister Pralhad Joshi launches C-CARES, web portal of CMPFOUnion Minister Pralhad Joshi, Ministry of Coal (MoC), has launched a web portal called C- CARES (https://cares-cmpfo.in/) to digitise the records and work processes of the Coal Mines Provident Fund Organisation (CMPFO).

• The portal aims to benefit the CMPF subscribers who are working in the coal sector and its pensioners.

Why the Portal?
i.CMPFO, a statutory body under the MoC, manually processes settlement claims of  Provident Fund subscribers and pensioners.
ii.C- CARES portal was launched to expedite the process and to bring transparency in operations
About C- CARES:
i.The portal was developed and designed by the Centre for Development of Advanced Computing (C-DAC), a Research and development (R&D) organization under the Ministry of Electronics and Information Technology(MeitY). The project was awarded to C-DAC in March 2023.
ii.The portal can be logged in by both Coal Mines Provident Fund (CMPF) subscribers and coal companies.
iii.The subscribers can access and view their individual details and subscription status and the coal companies can use the portal to submit contribution details, subscribers’ particulars and claims for online settlement and payment.
About Coal Mines Provident Fund Organisation (CMPFO):
Commissioner – Vijay Kumar Mishra
Headquarters – Dhanbad, Jharkhand
Established in 1948
About Ministry of Coal(MoC):
Union Minister –  Pralhad Joshi (Constituency – Dharwad, Karnataka)
Minister of State (MoS) – Danve Raosaheb Dadarao (Constituency -Jalna, Maharashtra)

Union Minister Sarbananda Sonowal Launched 2 Digital Modules within SagarSetu Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW) launched two digital modules namely the Maritime Single Window (MSW) module and the Mercantile Maritime Department (MMD) module within the SagarSetu (National Logistics Portal(NLP) -Marine) platform to transform and modernize Indian ports.
Key people: The launch event was attended by Minister of State(MoS), Shripad Yesso Naik, MoPSW and other senior officials of MoPSW.
About MSW Module:
i.MSW is a cutting-edge digital platform designed to digitalise the exchange of maritime-related information and documents.
ii.MSW module helps MoPSW to align with global standards set by the International Maritime Organization (IMO).
iii.The module enables the online submission of documents related to Arrival, Stay, and Departure of the Ship and communicates it to stakeholders involved in international maritime trade allowing for swift approval by various authorities.
iv.This will reduce waiting times for vessels and goods in ports by up to 40%.
About MMD Module:
This includes two core functionalities in the Maritime Mobile Domain process.
i.Vessel Detention function will enable the MMD officials to monitor the status of ships at ports, facilitating the planning of vessel inspections.
ii.Vessel Release function will be used by MMD to update the release status of the vessel, signaling its readiness to depart the port.
Note: Mercantile Marine Department (MMD) is a government body under the Directorate General of Shipping of MoPWS.
Swachhta Pakhwada awards:
During the event, ‘Swachhta Pakhwada’ awards were presented to MoPSW organizations to recognise their outstanding contributions towards cleanliness and sanitation initiatives.

• The Swachhta Pakhwada – cleaning campaign, held from 1st to 15th October 2023, witnessed a series of 62 events.

Winners:
i.First – The Inland Waterways Authority of India (IWAI)
ii.Second – Indian Maritime University (IMU) of Chennai, Tamil Nadu(TN)
iv.Third – Visakhapatnam Port of Visakhapatnam(Andhra Pradesh)
About Swachhta Pakhwada:
Swachhta Pakhwada was conceptualised in 2016, to bring a fortnight of intense focus on the issues and practices of Swachhta (cleanliness) by engaging Government of India (GoI) Ministries/Departments in their jurisdictions.

Defence Secretary Giridhar Aramane Co-chaired 12th India-Oman JMCC MeetingGiridhar Aramane, Secretary, Ministry of Defence (MoD), India and Dr Mohammed Bin Naseer Bin Ali Al Zaabi, Secretary-General, MoD, Oman co-chaired the 12th Joint Military Cooperation Committee (JMCC) meeting held in Muscat, Oman on 31st January 2024.
Note:
i.Giridhar Aramane was on a 2-day visit to Oman on 30 and 31 January 2024 on the invitation of Mohammed Bin Naseer Bin Ali Al Zaabi.
ii.During the two day visit, Giridhar Aramane also held bilateral talks with the Oman’s Secretary General.
Highlights of 12th JMCC:
i.Both sides reviewed the robust defence cooperation existing between India and Oman.
ii.The meeting explored diverse areas of collaboration in the fields of Training; Joint exercises; Information sharing; Oceanography; Ship Building and Maintenance, Repair, and Overhaul (MRO). This emphasises fostering mutual trust and interoperability between the 2 nations’ militaries.
iii.The defence secrearies exchanged views on regional and global issues of shared interest and discussed effective and practical initiatives to enhance bilateral defence engagements, with emphasis on collaboration in defence industries.
Signed MoU to procure Defence equipments:
India and Oman signed a Memorandum of Understanding (MoU) regarding the procurement of Defence Material and Equipment which will provide a framework for new areas of defence collaboration.

• This is in line with implementing “India – Oman Joint Vision Document” titled “A Partnership for the Future” adopted during the visit of the Head of State of the Sultanate of Oman, Sultan Sultan Haitham Bin Tarik in December 2023.

Signatories: The MoU was signed by Giridhar Aramane, Defence Secretary, MoD (India) and Dr Mohammed Bin Naseer Bin Ali Al Zaabi, Secretary-General, MoD, Oman.
About JMCC:
i.The JMCC is the highest forum of engagement between India and Oman in the field of defence that evaluates and provides guidance to the overall framework of defence exchanges between the 2 sides. Oman is one of India’s closest defence partners in the Gulf region.
ii.The 11th India-Oman JMCC meeting was held in January 2022 in New Delhi, Delhi.
iii.It was co-chaired by Defence Secretary Ajay Kumar, MoD (India) and Mohammed Bin Nasser Bin Ali AL Zaabi, Secretary-General of the MoD (Oman)

GRSE & Rolls-Royce Signed Frame and Individual License Pact to Produce MTU Series 4000 Marine Engines Garden Reach Shipbuilders and Engineers Ltd (GRSE) and Rolls-Royce Plc signed a Frame and Individual License agreement for the license production and localisation of the Motoren- und Turbinen-Union (MTU) International Maritime Organisation (IMO) Tier II compliant Series 4000 marine engines to power government ships.

• As part of the agreement, the IMO Tier II engines, which conform to stipulated emission standards set by the United Nations (UN) IMO will be manufactured at the Diesel Engine Plant of GRSE in Ranchi, Jharkhand.

Note: GRSE is a Kolkata (West Bengal)-based Warship building company and Rolls-Royce is a British luxury automobile maker.
License Agreements Scope and Individual Rights:
The License Agreement scope and Individual license rights for the requirements of the end customer covers:
i.Assembly of Licensee-built Products, manufacturing, or procurement of Licensee-built Parts and/or Components, engine testing and finishing (including painting).
ii.Manufacturing or procurement of Licensee-built Parts and/or Components to produce Licensee-built Products in the Territory.
iii.Sale and After-Sales-Services of Licensee-built Products within India for the Application.
Features of MTU Series 4000 engines:
i.Rolls-Royce’s business unit Power Systems’ MTU Series 4000 engines have a power output of 746-4,300 kilowatt (kW) and boast high power density and power-to-weight ratio.
ii.It stands out with its compact design as well as its mechanical and thermal stability and is easy to use and maintain, with low lifecycle costs.
iii.It gives every naval vessel (from small patrol vessels to frigates and large submarines), the right propulsion.
Rolls-Royce Entered 7-year Deal with Azad Engineering for Complex Military Aero-Engine Components
Rolls-Royce Plc has entered into a 7-year agreement with Azad Engineering in Hyderabad (Telangana) to produce and supply complex components intended for their defence/military aircraft engines. The components will be manufactured at Azad’s facilities in Hyderabad.

• With this, Azad Engineering is set to become part of the global supply chain for complex category components designated for Rolls-Royce’s advanced aero engines.

Note: Azad Engineering is a Former Indian Cricketer Sachin Tendulkar-backed company, that operates in the aerospace and defence, energy, and oil and gas industries.
About the Collaboration:
i.The agreement is focused on the production of highly intricate rotating components tailored for various platforms within Rolls-Royce’s defence and military engines.
ii.This strategic collaboration is in line with Rolls-Royce’s commitment to establishing a robust presence in India, furthering the vision of an ‘Atmanirbhar Bharat’ (self-reliant India).

Jay Shah Re-appointed as President of Asian Cricket Counil for 3rd Term Jay Shah, Secretary of the Board of Control for Cricket in India (BCCI), was reappointed as the President of the Asian Cricket Council (ACC) for the 3rd consecutive term.

• Initially, He took charge as President of ACC in January 2021 succeding Nazmul Hassan, President of Bangladesh Cricket Board (BCB).

Background:
i.The decision to extend Shah’s tenure for a year was unanimously approved at the  Annual General Meeting (AGM) of ACC held in Bali, Indonesia on 31st January 2024.
ii.His extension was proposed by the Shammi Silva, President of Sri Lanka Cricket (SLC).
About Jay Shah:
i.He served as a joint secretary of the Gujarat Cricket Association (GCA) from 2013 to 2019.
ii.In 2015, he was included as a member in the finance and marketing committees of BCCI.
iii.In 2019, he took over as Secretary of BCCI and was named the BCCI’s representative to attend future meetings of the International Cricket Council’s (ICC) chief executive committee.
iv.In 2021, he became the yougnest administrator to take charge as the President of ACC.
v.Under his leadership ACC organised the Asia Cup for senior men in Twenty 20(T20) fomat in (2022) and in One Day Internation (ODI) format in 2023.
New Members of ACC:
i.ACC included the Japan Cricket Association (Japan) and Persutan Cricket Indonesia (Indonesia) as new Members, following a rigorous multi-stage evaluation process at the AGM.
ii.The Tajikistan Cricket Federation is also set to become a member of ACC.

• To clarify, membership to Tajikistan has been granted at the AGM on a provisional basis, pending a successful site visit by ACC officials.

About Asian Cricket Council (ACC):
The ACC was formed in New Delhi, Delhi on the 19th of September 1983, as the Asian Cricket Conference.
President– Jay Shah

Bollywood  Actor Ranveer Singh Became Brand Ambassador of  boAt 
Indian Bollywood actor Ranveer Singh was appointed as a brand ambassador for the audio and wearable brand BoAt by Mumbai (Maharashtra)-based Imagine Marketing Limited.

• As the brand ambassador,  Ranveer Singh will be featured in ‘Lost in Nirvana’ campaign for their new premium audio sub-brand Nirvana.
• The campaign was conceptualised and executed with the Bengaluru (Karnataka)-based Talented Agency.
• Other noted brand ambassadors of boAt includes Indian cricketers like Jemimah Rodrigues, Hardik Himanshu Pandya, Kannaur Lokesh Rahul and Shreyas Santosh Iyer and actresses such as Rashmika Mandanna and Kiara Advani.
• Ranveer Singh is also a key Shareholder in the firm.

Green Propulsion System Developed under DRDO TDF Scheme Demonstrates in-orbit FunctionalityAn indigenously-developed ‘Green Propulsion System‘ developed under the Technology Development Fund (TDF) scheme of the Defence Research and Development Organisation (DRDO) has successfully demonstrated ‘in-orbit‘ functionality on a payload launched by the Polar Satellite Launch Vehicle (PSLV) C-58 mission.

• This project, a 1N Class Green Monopropellant Thruster aimed at altitude control and orbit maintenance of microsatellites, was sanctioned to a Bengaluru (Karnataka)-based start-up Bellatrix Aerospace Pvt Ltd.
• Green Propulsion System is performed under the RUDRA 0.3 HPGP Payload.

Note –
ISRO launched XPoSat (X-ray Polarimeter Satellite) onboard PSLV-C58 on 1st January 2024, the mission also includes the PSLV Orbital Experimental Module-3 (POEM-3) aiming to accommodate and execute 10 payloads, RUDRA 0.3 HPGP is one among them.
Validation:
The telemetry data from the POEM 3 at the Indian Space Research Organisation (ISRO) Telemetry, Tracking and Command Network (ISTRAC) in Bengaluru has been validated with ground-level solutions, surpassing all performance parameters.
Components of the Green Propulsion System:
i.This innovative technology has resulted in a non-toxic and environment-friendly propulsion system for low-orbit space.
ii.The system consists of indigenously developed Propellant, Fill and Drain Valves, Latch Valves, Solenoid Valves, Catalyst Beds, Drive Electronics, etc, making it ideal for space missions with high thrust requirements.
Demonstration:
i.Under the guidance of the Project Monitoring & Mentoring Group of DRDO, the Development Agency has carried out the complete project.
ii.It has demonstrated pulsed mode and steady-state firing in a vacuum, passivation of residual propellant in outer space, propellant realisation, and establishment of filling procedure under the TDF.
TDF:
i.It is a flagship initiative of the Ministry of Defence (MoD) executed by DRDO, aligning with the ‘Make in India’ initiative.
ii.It focuses on funding innovation in defence and aerospace, particularly benefiting start-ups and Micro, Small & Medium Enterprises (MSMEs).
About Defence Research and Development Organisation (DRDO):
Chairman – Dr Samir Vankatpati Kamat
Headquarters– New Delhi, Delhi
Established in– 1958
It is the Research and Development (R&D) wing of MoD.

ICAR-NBFGR Discovers Two New Species of Congrid Eels in Tamil Nadu and KeralaThe researchers from the Indian Council of Agricultural Research (ICAR) – National Bureau of Fish Genetic Resources (NBFGR) have identified two new specimens of congrid eels (Anguilliformes), namely Ariosoma Kannani and Ariosoma Gracile, off the coasts of Tamil Nadu (TN) and Kerala, respectively.

• The discovery was published in an international, peer-reviewed life science journal Zoosystematics and Evolution.
• Both the new species belongs to genus Ariosoma.

About Ariosoma kannani:
i.Ariosoma Kannani is found in landing centre of Rameswaram (TN) & Gulf of Mannar(TN).
ii.The species is named after late Professor L. Kannan, former director of Marine Biology, Annamalai University(Cuddalore, TN) and former Vice-Chancellor of Thiruvalluvar University(Vellore, TN).
About Ariosoma Gracile:
i.Ariosoma Gracile is found along the coast of Cochin (Kochi), in Ernakulam, Kerala.
ii.The new species differ from other eels by longer tail, dorsal-fin and, intermaxillary teeth patch.
About the Discovery:
i.The specimens of the new species were registered at the NBFGR’s National Fish Museum and Repository, Lucknow (Uttar Pradesh).
ii.The names of the two new eels have been registered in ZooBank, the online registration system for the International Commission on Zoological Nomenclature (ICZN).
Additional Info:
NBFGR has so far explored 12 eel species(including two new species), six each from TN and Kerala.

Khelo India Youth Games 2023: Maharashtra Tops the Table with 158 medalsThe 6th edition of Khelo India Youth Games (KIYG) 2023 hosted by Tamil Nadu was held from 19th to 31st January 2024. Maharashtra topped the medal tally of KIYG 2023 with 158 medals (57 gold, 48 silver, 53 bronze) and won the overall championship trophy.

• Tamil Nadu and Haryana were ranked 2nd and 3rd, respectively, with 98 medals (38 gold, 21 silver, and 39 bronze) and 103 medals (35 gold, 22 silver, and 46 bronze).
• On 19th January 2024, Prime Minister Narendra Modi inaugurated the opening ceremony of the Khelo India Youth Games 2023 in Chennai, Tamil Nadu.
• The KIYG 2023 witnessed the 30 overall KIYG records and national youth records.
• Mascot – Veeramangai

About the Ministry of Youth Affairs and Sports (MYAS):
Union Minister– Anurag Singh Thakur (Constituency- Hamirpur, Himachal Pradesh)
Minister of State (MoS)– Nisith Pramanik (Constituency- Coochbehar, West Bengal)

India Finishes as Runner-up in the FIH Hockey 5s Women’s World CupThe Indian women’s hockey team finished as runner-up (Silver Medal) at the Fédération Internationale de Hockey(FIH) Hockey 5s Women’s World Cup 2024 after losing to the Netherlands in the final.

• The Netherlands  men’s hockey team won the FIH Hockey 5s men’s World Cup 2024 title (Gold) by defeating Malaysia (Silver) in the finals.
• The Indian men’s hockey team finished in fifth place at the FIH Hockey 5s Men’s World Cup 2024 after they defeated Egypt in the match held for 5th and 6th positions.
• Indian women’s hockey team defender Deep Grace Ekka announced her international retirement from hockey on 27th January 2024. She represented the Indian national hockey team in 268 international matches and scored 24 goals.

About Fédération Internationale de Hockey (FIH – International Hockey Federation):
President – Tayyab Ikram
Headquarters – Lausanne, Switzerland
Founded in – 1924

World Wetlands Day 2024- February 2 The United Nations (UN) World Wetlands Day is annually observed across the globe on 2 February to raise awareness about the vital role of wetlands, a critically important ecosystem for people and the planet.

• The Day also marks the date of adopting the Convention on Wetlands of International Importance (“Ramsar Convention“), an intergovernmental treaty adopted on 2 February 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea.

The 2024 theme of World Wetlands Day is, ‘Wetlands and Human Wellbeing.’
Background:
i.The World Wetlands Day awareness campaign has been organised by the Secretariat of the Convention on Wetlands since 1997.
ii.Contracting Parties of the Convention on Wetlands have been celebrating World Wetlands Day since 1997 when it was first established.
iii.On 30 August 2021, the UN General Assembly (UNGA) adopted the resolution A/RES/75/317 and proclaimed the 2 February of every year as World Wetlands Day.
iv.The 1st ever UN-recognised World Wetlands Day was observed on 2 February 2022.
About Ramsar Convention on Wetlands:
Secretary-General– Dr. Musonda Mumba
The Ramsar Convention Secretariat is based at the headquarters of the International Union for the Conservation of Nature (IUCN) in Gland, Switzerland.

Thanthai Periyar Wildlife Sanctuary declared as 18th Wildlife Sanctuary of TNThe Governor of Tamil Nadu (TN) Ravindra Narayana Ravi,  has declared the Reserve forest areas of Anthiyur taluk of Erode district as Thanthai Periyar Wildlife Sanctuary with effect from 30th January 2024. This becomes the 18th Wildlife Sanctuary (WLS) of TN

• The declaration was made in exercise of the powers conferred by clause (b) of sub-section (1) of section 26-A of the Wild Life (Protection) Act, 1972 (Central Act 53 of 1972).

About Thanthai Periyar Wildlife Sanctuary:
i.Thanthai Periyar Wildlife Sanctuary with an area of about 80,114.80 hectares is located between the Sathyamangalam Tiger Reserve (STR) of TN, the Male Mahadeshwara WLS and the Cauvery WLS of Karnataka.
ii.The above WLS links  Cauvery Wildlife Sanctuary to the Nilgiri Biosphere through STR and Biligiri Rangaswamy Temple Tiger Reserve (Karnataka).
iii.The region also connects Nilgiris with Kollegal forests in Karnataka
iv.The region is also part of the Nilgiris-Eastern Ghats Elephant Reserve (Nilgiri Elephant Reserve).
v.This forest area is one of the tiger corridors approved by the National Tiger Conservation Authority (NTCA).
vi.WLS also hosts six tribal habitations.
Details of Reserve Forests Forming the WLS:
Thanthai Periyar WLS consists of six reserved forests namely

• North Bargur reserved forest
•  South Bargur reserved forest
• Thamaraikarai reserved forest
• South Bargur reserved forest (Part 844)
• Ennamangalam reserved forest
• Nagalur reserved forest

Wistron & Karnataka Govt Signed MoU to Establish Laptop Manufacturing Unit Near Bengaluru
The Karnataka government and Taiwan-based Wistron Corporation signed a Memorandum of Understanding (MoU) to set up a 1st-of-its-kind laptop manufacturing plant near Bengaluru, Karnataka.

• Under the MoU, Wistron will invest Rs 1500 crore to set up the plant. This unit is expected to create around 3000 employment opportunities.
• This unit is in line with Industry 4.0 standards with a fully automated facility that would make laptops for all brands.
• Over 50% of laptops manufactured from the unit will be exported and the plant will also produce Internet of Things (IoT) components and Electric Vehicle (EV) related parts.
• The work on the plant is set to begin in July 2024 and will start manufacturing laptops by January 2026.

Note: Wistron Corporation is a technology service provider supplying innovative Information and Communications Technology (ICT) products, service solutions, and systems to top branded companies worldwide.

Nagaland Celebrated 4th Edition of the Annual Orange Festival 
The 4th edition of the Rüsoma Orange Festival 2024 was held under the theme “Organic Orange” from 24th to 25th January 2024 in Rüsoma village near Kohima, in Nagaland.

• The festival was inaugurated by Salhoutuonuo Kruse, Minister of Women Resource Development of Nagaland.
• The Orange Festival is also known as Shühuo Nyi, and it originated in 2020.
• The festival was organised by Rüsoma Village Council in association with Kohima Smart City Development Limited, Rural Development Department, Horticulture Department, Agriculture Department and Land Resources Department.

Note: Rüsoma is one of the most progressive orange producing villages in Nagaland.

Highlights of French President Emmanuel Macron’s visit to IndiaEmmanuel Macron, President of France, paid a State Visit to India as the Chief Guest for the 75th Republic Day of India at the invitation of Narendra Modi, Prime Minister of India.

• His two-day visit from 25th to 26th January 2024 marks his 2nd state visit to India. He arrived in Jaipur, Rajasthan on 25th January 2024.
• This is also the 6th visit by a French leader as Guest of honour for India’s Republic Day.

Highlights:
i.PM Modi and French President Emmanuel Macron adopted the Roadmap for Defence Industrial Partnership for collaboration in co-design, co-development and co-production of military hardware and space cooperation.
ii.TATA Advanced Systems Limited (TASL) and Airbus Helicopters signed a Memorandum of Understanding (MoU) to set up a final assembly line (FAL) for H125 helicopters in India with a significant indigenous and localisation component.
About France:
President– Emmanuel Macron
Prime Minister– Gabriel Attal
Capital– Paris
Currency– Euro

MoE released AISHE 2021-22: Enrolment in Higher Education increases to 4.33 CroreOn 25th January 2024, the Department of Higher Education under the Ministry of Education (MoE) released the All India Survey on Higher Education (AISHE) 2021-22.

• This marks the 12th edition of AISHE and the 2nd survey done through web Data Capture Format (DCF) format.

Key Points:
i.In 2021-22, GER in Higher Education for the age group 18-23 years in India increased to 28.4 from 27.3 in 2020-21 and 23.7 in the base year 2014-15.
ii.The States/UTs with the highest Gross Enrolment Ratio(GER) are Chandigarh (64.8), Puducherry (61.5), Delhi (49), Tamil Nadu(TN) (47), Himachal Pradesh (43.1), Uttarakhand (41.8), Kerala (41.3) and Telangana (40).
iii.As per the survey, Uttar Pradesh (UP) has become the state with the highest number of colleges in India. the number of colleges in UP increased from  8,114 to 8,375 in 2021-22.
About the Ministry of Education (MoE):
Union Minister- Dharmendra Pradhan(Rajya Sabha- Madhya Pradesh)
Minister of State (MoS): Subhas Sarkar (Constituency- Bankura, West Bengal), Annapurna Devi Yadav (Constituency- Kodarma, Jharkhand), Rajkumar Ranjan Singh (Constituency- Inner Manipur, Manipur)

5 Indian Wetlands, 3 From Karnataka & 2 From Tamil Nadu Added to Ramsar list; Total Ramsar Sites Increased to 80On 1st February 2024, Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change(MoEFCC) announced that 5 wetlands from India (3 from Karnataka and 2 from Tamil Nadu-TN) were designated as RAMSAR Sites – Wetlands of International importace.

• With this addition, the total number of RAMSAR sites in India has increased from 75 to 80.

5 New RAMSAR sites
i.Magadi Kere Conservation Reserve; Ankasamudra Bird Conservation Reserve; and Aghanashini Estuary in Karnataka; and
ii.Karaivetti Bird Sanctuary; and Longwood Shola Reserve Forest in TN.
About Ministry of Environment, Forest and Climate Change (MoEF&CC):
Union Minister– Bhupender Yadav (Rajya Sabha- Rajasthan)
Minister of State–  Ashwini Kumar Choubey (Constituency- Buxar, Bihar)

NHAI & GSI Collaborated to Develop a Robust National Highways Network
National Highways Authority of India (NHAI) has signed a Memorandum of Understanding (MoU) with the Geological Survey of India (GSI) to enhance the quality of the National Highways (NH) network.

• As per the MoU, GSI will provide site-specific geotechnical consultancy services related to the preparation of geological maps and assist in analysing Detailed Project Reports (DPRs) from a geotechnical perspective.
• The MoU was signed in the presence of  Santosh Kumar Yadav, NHAI Chairman and Saibal Ghosh, Deputy Director General of GSI.

RBI revises norms for UCBs inclusion in second schedule, RBI Act, 1934; Allows TRQ Holders to make Advance Payment for gold import via IIBX i.The Reserve Bank of India (RBI) has revised the eligibility norms for the inclusion of Urban Co-operative Banks (UCBs) in the Second Schedule to the Reserve Bank of India (RBI) Act, 1934.  These instructions are issued under clause (a) of sub-section (6) of section 42 of the RBI Act, 1934.
ii.This move followed the release of the revised regulatory framework for UCBs in July 2022, aiming to improve their financial stability, governance, and strengthen the regulatory framework for UCBs.
iii.This revision will repeal the circular on UCBs for their inclusion in the 2nd Schedule to the RBI Act, 1934 issued in 2013.
iv.RBI has issued Guidelines on import of gold by Tariff Rate Quota (TRQ) holders under the India-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) as notified by the International Financial Services Centres Authority (IFSCA).
v.RBI in exercise of its powers under section 35A of the Banking Regulation (BR) Act, 1949, directed Paytm Payments Bank Ltd (PPBL or the bank) to stop onboarding of new customers with immediate effect.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment– 1st April 1935
Headquarters– Mumbai, Maharashtra