National News

1. Overseeing the Wrestling Federation:

• In response to the Sports Ministry's suspension of the Wrestling Federation of India (WFI), the Indian Olympic Association (IOA) has established a three-member ad hoc committee.
• This committee is entrusted with the day-to-day operations of WFI, a move prompted by alleged violations of the WFI constitution following the election of new office bearers, including Sanjay Singh as president.
• The ad-hoc committee's responsibilities encompass athlete selection, international event participation, financial management, website administration, and organizing sports activities.

2. Ayodhya's Transformation:

• The renowned city of Ayodhya is undergoing a significant transformation, marked by the renaming of its iconic railway junction to Ayodhya Dham and the inauguration of a new airport.
• Ayodhya Dham railway station blends ancient Indian architecture with modern amenities, resembling a majestic temple dedicated to Lord Rama.
• The new airport, situated 25 kilometers from the city, aims to enhance Ayodhya’s connectivity for both domestic and international flights, facilitating pilgrims and tourists globally to reach the sacred city.

International News

3. Pakistan's Missile Advancement:

• Pakistan achieved a milestone in its missile capabilities with the successful flight test of the indigenously developed guided multi-launch rocket system, Fatah-II.
• This system, with a 400-kilometer range, surpasses its predecessor, Fatah-1, by 150 kilometers, bolstering Pakistan's strategic deterrence.
• The Fatah-II system boasts state-of-the-art avionics, a sophisticated navigation system, and a unique flight trajectory, ensuring high accuracy in hitting designated targets.
• The successful test reflects Pakistan's increasing self-reliance in defense technology.

State News

4. Ammonia Gas Leak in Ennore Region:

• A fertilizer plant in Ennore, Chennai, witnessed an ammonia gas leak, leading to the hospitalization of around 50 people.
• The leak originated from an underwater pipeline connecting the sea to the manufacturing facility of Coromandel International Limited.
• Affected individuals experienced symptoms like breathlessness, burning sensations in the eyes, throat, nose, and chest.
• Local residents expressed anger and concern, urging the immediate closure of the factory to prevent future incidents.

5. Renaming Ayodhya Airport:

• Ayodhya, in Uttar Pradesh, is on the brink of welcoming its first international airport. Currently named "Maryada Purushottam Shri Ram International Airport," the Yogi Adityanath government is contemplating renaming it to "Maharishi Valmiki Airport."
• This proposed change pays homage to the revered poet Maharishi Valmiki, author of the epic Ramayana, aligning with the religious significance of the city and its connection to the story of Lord Rama.

6. Robust Growth in Indian Banks:

• According to a recent report by the Reserve Bank of India (RBI), Indian banks and non-bank lenders have shown commendable performance, achieving a remarkable 12.2% growth in the consolidated balance sheet of scheduled commercial banks (SCBs) during the fiscal year 2022-23.
• The RBI emphasized the significance of reinforcing governance and risk-management practices to strengthen the balance sheets further.
• This growth, reaching the highest point in nine years, underscores the resilience of the Indian banking sector.

7. RBI Approves IDFC-IDFC First Bank Merger:

• In a significant move, the Reserve Bank of India (RBI) has given the green light for the reverse merger of IDFC Ltd with its banking subsidiary, IDFC First Bank.
• The composite scheme of amalgamation, approved on December 26, 2023, involves the merger of IDFC FHCL with IDFC First, followed by the merger of IDFC into IDFC First Bank Ltd.
• Shareholders of IDFC will receive 155 shares for every 100 shares held, with both stocks having a face value of Rs 10 each.

8. Bank of Baroda's Strategic Move:

• Bank of Baroda has announced its intention to sell its entire 100 percent stake in Bank of Baroda (New Zealand).
• This move aligns with the bank's strategic decisions, following the conclusion of activities in Hong Kong and South Africa during FY22.
• The bank is actively seeking an investment banker for the sale process, with a submission deadline for proposals set at 2:00 pm on January 24. The divestment reflects the bank's focus on optimizing its global operations.

Business News

9. Intel's Ambitious Chip Plant in Israel:

• In a groundbreaking development, Israel's government has granted a substantial $3.2 billion to Intel Corp. for its ambitious plan to construct a $25 billion chip plant in Kiryat Gat, southern Israel.
• This investment, the largest ever made by a company in Israel, comes amid ongoing conflicts with the Palestinian militant group Hamas.
• Intel's expansion in Israel is part of its broader global strategy, complementing investments in Europe and the United States.

10. LIC's Strategic Move to GIFT City:

• The Life Insurance Corporation (LIC), a prominent insurance entity, has decided to open a new branch office at GIFT City, the only operational International Financial Services Centre (IFSC) in India.
• The Board of LIC formally approved this strategic move during its recent meeting.
• GIFT City has become a dynamic hub for various financial entities, and LIC's decision underscores its intent to capitalize on the opportunities presented by GIFT City, positioning itself strategically within the financial services ecosystem.

Agreements News

11. Strengthening Indo-Russian Ties:

• India and Russia have solidified their partnership with crucial agreements for the construction of future power-generating units at the Kudankulam nuclear power plant.
• As India's largest nuclear facility, Kudankulam has been under construction since 2002, with significant contributions from Russia.
• The initial phase, operational since February 2016, operates at 1,000 MW capacity, with plans for full capacity by 2027.
• The diplomatic collaboration is not limited to nuclear endeavors, as negotiating teams from both nations are scheduled to discuss a potential free trade agreement between India and the Eurasian Economic Zone in January.

Appointments News

12. Leadership Transition at Kotak Mahindra Bank:

• The Reserve Bank of India has approved the appointment of C S Rajan as the part-time Chairman of Kotak Mahindra Bank, succeeding Prakash Apte.
• Rajan, a retired Indian Administrative Service (IAS) officer, joined the bank as an Independent Director in October 2022.
• His term, commencing on January 1, 2024, is set for two years. This strategic move reflects Kotak Mahindra Bank's commitment to strong governance and experienced leadership to navigate the dynamic landscape of the financial sector.

Sports News

13. Setback for Indian Wrestler Pooja Dhanda:

• Decorated Indian wrestler Pooja Dhanda faces a one-year suspension from the National Anti-Doping Agency (NADA) due to three whereabouts failures.
• NADA, established in 2005, ensures fair competition by testing athletes for adherence to World Anti-Doping Agency (WADA)
• Elite athletes like Pooja, part of the Registered Testing Pool, must provide a 60-minute testing window annually.
• This suspension, a consequence of non-compliance, has significant implications for Pooja's career, potentially affecting her training and future competitions.

Science Technology News

14. Reliance Jio and IIT Bombay's Innovative Collaboration:

• Under the leadership of Chairman Akash Ambani, Reliance Jio Infocomm is set to launch the 'Bharat GPT' program in collaboration with the Indian Institute of Technology-Bombay.
• This strategic partnership includes the development of an operating system (OS) for smart TVs, marking the evolution of Jio's vision into "Jio 2.0."
• The Bharat GPT program reflects a commitment to technological advancement, with the active collaboration between Reliance Jio and IIT Bombay contributing to the development of a robust smart TV operating system.

Obituaries News

15. Tamil Superstar Vijayakanth's Legacy:

• Tamil Nadu mourns the loss of iconic actor and politician Vijayakanth, known as "Captain," who passed away at the age of 71.
• Vijayakanth's illustrious film career began in 1979, and his impactful roles earned him the nickname "Karuppu MGR."
• His contributions to cinema were recognized with prestigious awards, including the Kalaimamani award in 2001.
• The passing of Vijayakanth marks the end of an era, leaving behind a legacy of powerful performances that resonated deeply with audiences, especially in rural areas.