State News

Telangana Government's Initiative for Overseas Youth

• Chief Minister A Revanth Reddy of Telangana has taken proactive steps to address the safety concerns of Telangana citizens residing abroad, particularly in the USA.
• In response to these concerns, the government has announced the establishment of a dedicated help desk.
• This initiative aims to cater to the needs of students and young professionals from Telangana who are studying or working abroad.
• Acting as a central point for guidance and support, the help desk reflects the government's commitment to the welfare of its citizens, irrespective of their location.
• Notably, Chief Minister Reddy has also reached out to the Ministry of External Affairs to expedite actions addressing the safety apprehensions of Telangana citizens residing abroad.

Uniform Civil Code Implementation in Uttarakhand

• Uttarakhand has achieved a significant milestone in India's legislative landscape by becoming the first state to implement the Uniform Civil Code (UCC).
• This landmark move seeks to standardize laws governing personal matters such as marriage, divorce, and inheritance, across all citizens, regardless of their religious affiliations.
• The journey towards implementing the UCC in Uttarakhand commenced with the formation of a high-level committee led by retired Supreme Court judge, Justice Ranjana P Desai.
• The committee's efforts culminated in the drafting of the UCC, laying the groundwork for the Bill passed by the Uttarakhand Assembly.

Defence News

Exploring Defence Cooperation Between India and Saudi Arabia

• India and Saudi Arabia have recently engaged in discussions aimed at strengthening their bilateral defence and strategic cooperation.
• Noteworthy aspects of these discussions include the potential for enhancing joint military training exercises and exploring avenues for technology transfer.
• These efforts underscore a mutual commitment to bolstering defence capabilities, fostering indigenous manufacturing, and promoting innovation through technological collaboration.

Economy News

Lok Sabha Passes Finance Bill, Concluding Interim Budget 2024-25

• The Lok Sabha has successfully passed the Finance Bill 2024, marking the conclusion of the interim budget exercise for the fiscal year 2024-25.
• The interim budget, devoid of alterations to the existing tax structure, precedes the presentation of the final budget scheduled for July, post the general elections in April-May.
• The approval of the Rs 47.66-lakh crore interim Budget 2024-25 by the Lok Sabha, alongside the endorsement of the second batch of supplementary demands for grants, signifies a crucial step in fiscal governance.

Banking News

RBI Grants Payment Aggregator Licences to Fintech Firms

• The Reserve Bank of India (RBI) has recently granted final authorization to fintech firms Juspay and Decentro, along with software-as-a-service company Zoho, to operate as payment aggregators.
• This approval, following stringent regulatory criteria, positions these entities among notable players in the payments aggregator landscape.
• Juspay, Decentro, and Zoho join established names such as Stripe, Zomato, and Tata Pay, who received approval earlier, as well as leading fintech players like Razorpay and Cashfree, which acquired the license last year.

RBI Monetary Policy Maintains Repo Rate at 6.5%

• The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has opted to keep the repo rate unchanged at 6.5 percent, marking the sixth consecutive instance of maintaining the rate.
• This decision closely follows the Interim Budget presentation on February 1, 2024.
• The RBI's approach underscores a continued focus on withdrawing accommodative monetary policies while balancing inflation control with economic growth.
• The next MPC meeting is scheduled for April 3 to 5, 2024.

Business News:

Tata Group Surpasses ₹30 Lakh Crore Market Cap

• Tata Group has achieved a historic milestone, becoming the first Indian conglomerate to exceed ₹30 lakh crore in combined market capitalization.
• This remarkable feat is attributed to robust performances from key subsidiaries such as Tata Consultancy Services (TCS), Tata Motors, Tata Power, and Indian Hotels.
• Notably, TCS shares soared over 4 percent on February 5, propelling its market capitalization beyond ₹15 lakh crore, signaling a significant milestone for the leading IT services firm.

Observance of National Black HIV/AIDS Awareness Day 2024

• National Black HIV/AIDS Awareness Day, commemorated annually on February 7th, holds significance in the ongoing fight against HIV/AIDS within African American communities.
• This year’s theme, “Engage, Educate, Empower: Uniting to End HIV/AIDS in Black Communities,” underscores efforts to raise awareness about the disproportionate impact of HIV/AIDS on Black Americans.
• The day serves as a rallying cry to address systemic inequalities contributing to higher rates of HIV infection among Black populations.

Schemes News:

Free Bus Travel for Transgender Community in Delhi

• Delhi Chief Minister Arvind Kejriwal has announced a groundbreaking government initiative offering free bus travel for the transgender community within the national capital.
• Emphasizing swift Cabinet approval and implementation, Kejriwal aims to provide tangible benefits to the transgender community within weeks.
• Delhi Minister Kailash Gahlot elaborated on the initiative, stating that transgender individuals would be eligible for free bus services upon presenting government-issued certificates.

Launch of EdCIL Vidyanjali Scholarship Programme by Education Minister Dharmendra Pradhan

• Education Minister Dharmendra Pradhan has inaugurated the EdCIL Vidyanjali Scholarship Programme, aligning with the goals of the National Education Policy (NEP) 2020 to make education accessible to all.
• The program aims to support students from underprivileged backgrounds, particularly those from Navodaya Vidyalayas who have secured admissions to top engineering and technology colleges without additional tutoring.
• With a total allocation of Rs 5 crore benefiting 70 students, the scholarship program acknowledges the vital role of businesses and organizations in supporting deserving students.

Union Ministers Launch Kilkari Programme and Mobile Academy in Maharashtra and Gujarat

• Union Ministers of State for Health and Family Welfare, Prof. S P Singh Baghel and Dr. Bharati Pravin Pawar, have virtually inaugurated the Kilkari programme and Mobile Academy, aimed at fortifying public health infrastructure in Maharashtra and Gujarat.
• Kilkari delivers timely audio messages on reproductive maternal, neonatal, and child health, while the Mobile Academy provides training for Accredited Social Health Activists (ASHAs) via mobile phones.
• The objective is to deliver 72 audio messages weekly via IVRS, focusing on reproductive maternal, neonatal, and child healthcare, utilizing the Reproductive Child Health (RCH) portal, targeting beneficiaries registered during pregnancy or after childbirth.

Ranks & Reports News

TomTom Traffic Index 2023: London Tops, Bengaluru Second Most Congested City

• TomTom, a leading expert in location technology, has unveiled insights into the global challenge of traffic congestion. London emerges as a focal point, experiencing the slowest traffic in 2023.
• Bengaluru’s rise to the second spot as the most congested city in 2023 underscores the urgent need for intervention.
• With Delhi ranking 44th and Mumbai 52nd, strategic interventions are imperative to improve urban mobility and enhance residents' quality of life.

India Ranks 38th Out of 139 Countries in the World Bank’s LPI Report 2023

• India’s logistics performance has remarkably improved, securing the 38th position out of 139 countries in the Logistics Performance Index (LPI) Report by the World Bank.
• This progress reflects a substantial leap from its previous positions of 44 in 2018 and 54 in 2014, highlighting the nation’s commitment to bolstering logistics infrastructure and efficiency.

India to Lead Global Oil Demand Growth by 2030: IEA Projections

• The International Energy Agency (IEA) forecasts India to become the primary driver of global oil demand growth by 2030, despite a projected decline in domestic production.
• This trend underscores India’s emergence as the second-largest crude importer worldwide. Adoption of electric vehicles and energy efficiency improvements is expected to prevent additional demand during 2023-2030.

NITI Aayog and Kingdom of the Netherlands Joint Report Release: ‘LNG as a Transportation Fuel in Medium and Heavy Commercial Vehicle’

• NITI Aayog and the Embassy of the Kingdom of the Netherlands have collaborated on energy transition efforts since 2020.
• Their joint report, released during India Energy Week on February 6, 2024, focuses on the adoption of LNG as a transportation fuel in medium and heavy commercial vehicles (MHCVs) in India.
• The report offers a structured plan to overcome challenges, emphasizing the necessity of transparent implementation frameworks and near-term goals for demand creation and market seeding.

Agreements News

UAE’s ADIA Plans $4-5 Billion Investment in India via GIFT City

• The Abu Dhabi Investment Authority (ADIA) is set to establish a substantial investment fund totaling $4-5 billion through India’s Gujarat International Finance Tec-City (GIFT City), situated in PM Modi’s home state.
• As the largest sovereign wealth fund in the UAE, ADIA has received in-principle approval from the regulatory authority overseeing financial services at GIFT City for setting up the fund.
• This marks the first instance of a sovereign wealth fund initiating investments in India via GIFT City. ADIA is expected to commence investments through the fund by the middle of this year, with the allocated funds gradually deployed into Indian markets over an extended period.

Appointments News

Naveen Tahilyani Appointed Tata Digital’s New CEO & MD

• Tata Digital has appointed Naveen Tahilyani as the new Chief Executive Officer and Managing Director of Tata Group’s e-commerce unit.
• Transitioning from his current role as CEO and MD at Tata AIA Life Insurance, Tahilyani is set to assume his new responsibilities on February 19, succeeding Pratik Pal.
• Tahilyani brings a wealth of experience from the insurance, banking, and asset management sectors of the Tata Group, underscoring the company’s commitment to driving growth and innovation in the digital commerce space.

Kazakh President Appoints Olzhas Bektenov as Prime Minister

• Kazakh President Kassym-Jomart Tokayev has appointed Olzhas Bektenov, his chief of staff, as the new prime minister.
• The swift approval from the ruling Amanat party-dominated parliament reflects the president’s firm grip on power.
• Bektenov, aged 43, previously led the state anti-corruption agency and assumed the role of presidential administration head in April 2023.
• His tenure as the head of the presidential administration commenced in April 2023, marking a significant transition in Kazakhstan’s political landscape.

Sports News

SCA Stadium Renamed in Honor of Niranjan Shah Ahead of India-England Test Match

• The Saurashtra Cricket Association (SCA) Stadium is set to be rebranded as the Niranjan Shah Stadium, honoring the former first-class cricketer and senior cricket administrator, Niranjan Shah.
• This tribute acknowledges Shah’s immense contributions to the sport and the region. The renaming ceremony, scheduled in Khandheri, holds significance as the stadium has been a central hub for national cricket matches for over a decade.
• Beyond his playing days, Shah’s legacy in cricket extends to his administrative role, shaping the cricketing landscape of Saurashtra.

Wei Yi Clinches 2024 Tata Steel Chess Tournament

• Grand Master Wei Yi clinched victory in the highly anticipated 2024 Tata Steel Chess Tournament, showcasing his exceptional skill and strategic acumen.
• His triumph in the intense four-player tiebreak solidified his position as one of the premier chess players globally.
• Competing against esteemed grandmasters Anish Giri, Gukesh Dommaraju, and Nodirbek Abdusattorov, Wei Yi's victory in the Masters category highlighted his dominance in the chess arena.
• Additionally, GM Leon Luke Mendonca’s remarkable performance secured victory in the Challengers division, demonstrating exceptional talent in the realm of chess.

Obituaries News

Farooq Nazki, Renowned Poet and Sahitya Akademi Winner, Passes Away at 83

• Farooq Nazki, a revered poet and distinguished recipient of the Sahitya Akademi Award, passed away at the age of 83, leaving behind a legacy of profound contributions to poetry and cultural preservation.
• Throughout his life, Nazki's poetic expressions, characterized by emotional depth and lyrical beauty, resonated with many, earning him a place among the most cherished poets of his time.
• His work exemplified the power of words in bridging hearts and minds across diverse backgrounds.

Former Chile President Sebastian Pinera Dies in Helicopter Crash

• Chile's political landscape mourns the tragic loss of former President Sebastian Pinera, who perished in a helicopter crash in the south of the country at the age of 74.
• Pinera, a towering figure in Chilean politics, served two terms as president, playing a pivotal role in fortifying the nation's young democracy.
• His leadership, marked by significant strides in governance and initiatives aimed at improving the quality of life for Chileans, leaves behind a lasting legacy of dedication to public service.

Miscellaneous News

UAE Awards ‘Golden Visa’ to Super 30 Founder Anand Kumar

• Renowned Mathematics educator Anand Kumar, founder of Super 30, received the prestigious 'Golden Visa' from the United Arab Emirates (UAE) government, recognizing his exceptional contributions to education.
• This recognition signifies a shift in the Golden Visa program, embracing intellectual prowess and educational contribution alongside achievements in entertainment and sports.
• Introduced in 2019, the Golden Visa aims to attract exceptional talents across various fields, offering recipients exclusive benefits and opportunities in the UAE.

Picture of Polar Bear Falling Asleep on Iceberg Wins Top Photography Prize

• A captivating photograph capturing a polar bear asleep on an iceberg, titled 'Ice Bed,' has won the prestigious Wildlife Photographer of the Year People’s Choice Award.
• Taken by British amateur photographer Nima Sarikhani, this image celebrates nature's serene beauty while drawing attention to the urgent need for conservation efforts to protect vulnerable species like polar bears.
• The photograph serves as a poignant reminder of the threats posed by climate change and underscores the importance of preserving their natural habitat.