Current Affairs february-5th-2024
International News:
India Launches UPI Payments At Eiffel Tower In Paris
- India has successfully unveiled the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris, a momentous stride towards fulfilling Prime Minister Narendra Modi’s vision of globalizing UPI.
- NPCI International Payments (NIPL) joined forces with French e-commerce and proximity payments company, Lyra, to enable the acceptance of UPI payments in France.
- This collaborative effort, initiated in July, now positions France as a trailblazer in adopting UPI on the European continent.
State News:
Uttar Pradesh’s Visionary Step – Centralized GIS Data Centre For Ayodhya Development
- The Yogi Adityanath-led Uttar Pradesh government is embarking on a visionary initiative by establishing a state-of-the-art Centralized GIS Data Centre in Ayodhya under the Ayodhya Development Authority (ADA).
- Aligned with the Chief Minister’s vision to enhance the city’s infrastructure, this step aims to efficiently manage 141 projects worth Rs 30,977 crore, dedicated to restoring Ayodhya’s historical grandeur.
- ADA has initiated the development of necessary software and hardware infrastructure for the GIS data centre, integrated with Geographic Information System (GIS).
- This centre will streamline project progress assessment by evaluating the operations of over 37 agencies involved in the ongoing projects.
Uttarakhand Police Adopt Self-Balancing E-Scooters For Smart Patrols
- Director General Abhinav Kumar, overseeing police operations in Haridwar, has introduced a novel approach to law enforcement by deploying self-balancing electric scooters, generously donated by Utkarsh Small Finance Bank.
- This innovation marks a significant leap forward in police patrol strategies, enabling officers to navigate efficiently through narrow streets and crowded areas.
- Director General Abhinav Kumar emphasized the importance of embracing eco-friendly alternatives to traditional policing methods, underscoring the environmental benefits of this initiative.
Karnataka Clinches Nagesh Trophy Beating Andhra Pradesh
- Karnataka achieved a momentous victory by clinching the Nagesh Trophy in the Men’s National T20 Cricket Tournament for the Blind 2023-24.
- In a thrilling final held in Nagpur, Karnataka defeated Andhra Pradesh by nine wickets, ending a 20-year wait for a national title.
- Despite Andhra Pradesh's dominant performance throughout the tournament, Karnataka showcased commendable skill in chasing a challenging target of 237/5 set by Andhra Pradesh, with in-form batters T. Durga Rao and D. Venkateswara Rao leading the way.
Defence News:
India-US Seal $4B MQ-9B Armed Drone Deal
- India’s strategic collaboration with the United States in defense has reached a significant milestone with the procurement of MQ-9B armed drones, valued at $4 billion.
- Developed by General Atomics Aeronautical Systems, the MQ-9B represents cutting-edge advancements in armed drone technology.
- Designed for unparalleled intelligence, surveillance, and reconnaissance (ISR) capabilities, the MQ-9B heralds a new era in modern warfare.
- India's procurement plan includes acquiring a total of 31 MQ-9B drones, with the Indian Navy receiving 15 MQ-9B SeaGuardian drones, and the Army and Air Force each equipped with eight MQ-9B SkyGuardian drones.
IAF To Conduct Exercise Vayu Shakti-2024
- The Indian Air Force (IAF) is gearing up for Exercise Vayu Shakti-24, a grand display of its aerial might scheduled for 17 February 2024, at the Pokhran Air to Ground Range near Jaisalmer.
- Following the success of the previous edition in 2019, this year’s exercise promises an even more impressive demonstration of the IAF’s offensive and defensive capabilities, both day and night.
- Exercise Vayu Shakti, held biennially, serves as a testament to the IAF’s strategic capabilities, demonstrating combat readiness and operational effectiveness with a wide array of aircraft and weapon systems in action.
Economy News:
RBI Announces 97.50% Of Rs 2,000 Notes Returned To System
- On February 1, the Reserve Bank of India (RBI) disclosed that an impressive 97.50% of the Rs 2,000 currency notes, circulating as of May 19, 2023, have been successfully reintegrated into the banking system.
- The total value of Rs 2,000 banknotes in circulation witnessed a substantial decrease from Rs 3.56 lakh crore on May 19, 2023, to Rs 8,897 crore by January 31, 2024.
- Introduced in November 2016 to address immediate currency requirements, the printing of Rs 2,000 notes ceased in 2018-19. Despite this, they remain legal tender, as confirmed by the RBI.
Govt Offers ‘Bharat’ Rice At ₹29/Kg In Retail Market
- In response to soaring rice prices, the Government of India has unveiled the ‘Bharat’ brand rice, priced at ₹29 per kg, in 5- and 10-kg packs.
- This initiative aims to tackle market volatility and ensure affordability for consumers.
- To gather essential data on rice stocks, the Essential Commodities Act has been invoked, requiring traders to declare their stocks every Friday on a designated portal starting February 9.
- This measure provides insights for potential interventions such as stock limits.
Record-Breaking UPI Transactions Hit ₹18.4 Trillion In January: NPCI Data
- The National Payments Corporation of India (NPCI) reports a significant milestone in Unified Payment Interface (UPI) transactions for January, reaching a record ₹18.41 trillion.
- With a 1.5% increase in volume (12.20 billion) and a 1% rise in value from December, these statistics emphasize consistent growth.
- Compared to the previous financial year, there is a notable 52% surge in transaction volume and a substantial 42% increase in transaction value.
- Despite a slight decline in Immediate Payment Service (IMPS) transaction value by 0.7% to ₹5.66 trillion in January, the transaction count increased by 2% to 509 million.
Banking News:
ESAF Small Finance Bank And Edelweiss Tokio Life Insurance Partner To Offer Life Insurance
- ESAF Small Finance Bank has strategically partnered with Edelweiss Tokio Life Insurance to enhance financial solutions for customers.
- This collaboration focuses on prioritizing customer needs, fostering growth, and promoting innovation in the financial sector.
- ESAF Small Finance Bank aims to extend financial security to the unbanked and underbanked population, particularly in rural markets across India.
- The partnership leverages ESAF Small Finance Bank’s extensive presence in rural markets to enhance the accessibility of innovative life insurance products.
Business News:
Government Boosts Sovereign Gold Bond Issuance To 3,500 Crore In Fiscal Year 2024-25
- The Indian government's strategic decision involves a substantial increase in the issuance of Sovereign Gold Bonds (SGB) for the fiscal year 2024-25.
- The allocation for SGBs has more than doubled, rising from ₹1,500 crore in the financial year ending March 31, 2023, to a significant ₹3,500 crore.
- Managed by the Reserve Bank of India (RBI), the Sovereign Gold Bond has become a preferred investment avenue, effectively channeling investor interest towards financial instruments.
- This move plays a crucial role in managing gold demand amidst rising prices, despite a 20% surge in gold imports to 781 tonnes last year.
Important Days News:
World Cancer Day 2024
- Recognized annually on February 4th, World Cancer Day sheds light on the global challenge posed by cancer, advocating for advances in research, prevention, and patient care.
- The theme from 2022 to 2024, “Close the Care Gap: Everyone Deserves Access To Cancer Care,” focuses on disparities in cancer care.
- This year’s sub-theme, “Together, we challenge those in power,” emphasizes holding leaders accountable for investing necessary resources in effectively combating cancer.
International Day Of Human Fraternity 2024
- Observed annually on February 4th, the International Day of Human Fraternity underscores the beauty of unity and strength in diversity.
- This day calls for global solidarity, emphasizing compassion, respect, and empathy to overcome hatred and conflict.
- Falling on a Sunday in 2024, individuals worldwide can take a moment to reflect on the value of togetherness in our interconnected global community.
Schemes News:
NCPCR Launches GHAR Portal For Child Restoration And Repatriation
- The Ministry of Women and Child Development has introduced two vital portals, the Track Child Portal and the GHAR – GO Home and Re-Unite Portal.
- These platforms play a pivotal role in tracking missing and found children, enhancing restoration and repatriation processes, and safeguarding the welfare of vulnerable minors within the Juvenile Justice system.
- The Track Child Portal, a flagship initiative of the Ministry of Women and Child Development, serves as a centralized hub for tracking missing and found children nationwide.
- Developed in collaboration with stakeholders such as the Ministry of Home Affairs, CCTNS (Crime and Criminal Tracking & Network Systems), and various State Governments/UT Administrations, this platform empowers authorities and citizens to monitor the whereabouts of missing children effectively.
Summits & Conferences News:
Prime Minister Narendra Modi Inaugurates CLEA-CASGC 2024 Conference
- PM Modi inaugurated the Commonwealth Legal Education Association (CLEA) – Commonwealth Attorneys and Solicitors General Conference (CASGC) 2024 at Vigyan Bhawan, New Delhi, focusing on Cross-Border Challenges in Justice Delivery.
- The international conference addressed critical issues like legal education, judicial transition, ethical dimensions of legal practice, and executive accountability.
- Echoing Indian philosophy on justice, PM Modi emphasized citizen-centric justice, advocating for initiatives like Lok Adalats to ensure ease of access to justice for all.
- He also advocated for the inclusion of women in the legal profession and the modernization of legal systems to reflect present realities, including the abolition of colonial laws and leveraging technology for efficiency.
Appointments News:
Shri Pawan Kumar Assumes Charge As Chief Adviser (Cost) In Ministry Of Finance
- Shri Pawan Kumar, ICoAS, has assumed charge as Chief Adviser (Cost), Department of Expenditure, Ministry of Finance, following approval from the Appointments Committee of the Cabinet (ACC).
- A qualified Cost Accountant with a diverse work experience, Shri Kumar has served in various capacities at different Ministries/Departments and autonomous bodies.
- This includes roles at the Tariff Commission, Delhi Development Authority, Director General of Trade Remedies, Department of Economic Affairs, and Department of Public Enterprises.
Awards News:
LK Advani To Be Awarded Bharat Ratna, Announced By PM Modi
- The Indian government has announced the conferment of the Bharat Ratna, the nation’s highest civilian award, upon LK Advani, a prominent figure in Indian politics.
- This award recognizes Advani's legacy as a statesman dedicated to the nation, celebrating his contributions and role as a catalyst for political and social change in India.
- Born on November 8, 1927, in Karachi, LK Advani's political journey reflects resilience, leadership, and profound influence on the Indian political landscape, contributing significantly to shaping the ideology of the Bharatiya Janata Party (BJP).
Sports News:
Abhinav Bindra Selected As Torchbearer For The 2024 Paris Olympics
- Abhinav Bindra, India’s first individual Olympic gold medalist, has been chosen as one of the 11,000 torchbearers for the 2024 Paris Olympics.
- The Olympic Torch Relay, continuing its tradition, will traverse France for 68 days, symbolizing the unifying power of the Olympics and the celebration of sporting excellence globally.
- Abhinav Bindra, a shooting legend, represents the spirit of the Olympics and the acknowledgment of his outstanding achievement in the global sports arena.
Science & Technology News:
BHU Launched Human DNA Bank Under Make In India Initiative
- Banaras Hindu University has taken a significant step in scientific progress by initiating the Human DNA Bank and nearing completion of the Wildlife DNA Bank under the Make In India initiative.
- Powered by cutting-edge technologies like the Automated DNA Extractor Machine, these endeavors underscore India's commitment to innovation and indigenous manufacturing.
- BHU’s Human DNA Bank and Wildlife DNA Bank mark pivotal milestones in genetic research, facilitated by the Automated DNA Extractor Machine.
- This technology expedites the extraction of genetic material, enabling comprehensive studies in personalized medicine, wildlife conservation, and beyond.