National News

Historic Inauguration of the 5th Meghalaya Games by Indian President

• The 5th Edition of the Meghalaya Games was inaugurated on January 15, 2024, in Tura, Meghalaya, by the esteemed President of India, Smt Droupadi Murmu.
• The significance of this edition lies not only in its historical context but also in the departure from the tradition of hosting it exclusively in Shillong.
• Notably, this event marked the introduction of traditional indigenous games into the lineup, showcasing the rich cultural diversity of Meghalaya.
• The President emphasized the importance of supporting and nurturing talent from tribal areas, recognizing their potential to emerge as professional sportspersons.
• This move reflects a commitment to inclusivity and the development of sporting prowess from regions that are often overlooked.

PM Modi Unveils NACIN Campus in Andhra Pradesh

• In a significant development for the educational infrastructure of Sri Sathya Sai district in Andhra Pradesh, Prime Minister Narendra Modi inaugurated the new campus of the National Academy of Customs, Indirect Taxes & Narcotics (NACIN) at Palasamudram.
• Scheduled for January 16, this event is poised to contribute to the region's capacity building in indirect taxation and narcotics control administration.
• The sprawling 500-acre NACIN campus is designed to provide world-class training to officials from various sectors, including the Indian Revenue Service (Custom & Indirect Taxes), central allied services, state governments, and international counterparts.

State News

Kerala's Operation AMRITH to Combat Antimicrobial Resistance

• Kerala takes a proactive stance against the silent pandemic of antimicrobial resistance (AMR) through Operation Amrith (Antimicrobial Resistance Intervention For Total Health).
• The Kerala Drug Control Department is spearheading this initiative to address the growing threat posed by the misuse of antibiotics.
• Operation Amrith involves surprise raids in pharmacies to detect over-the-counter (OTC) sales of antibiotics without a doctor's prescription.
• AMR, recognized as a silent pandemic, caused approximately 5 million deaths globally in 2019, with 1.3 million deaths directly attributed to it.

Banking News

Yes Bank's Strategic Move with SmartFin for MSMEs

• Yes Bank has taken a strategic leap towards supporting Micro, Small, and Medium Enterprises (MSMEs) by introducing SmartFin, an advanced digital Supply Chain Finance (SCF) platform.
• Developed in collaboration with Veefin Solutions, SmartFin showcases Yes Bank's commitment to innovation and digital enhancement in the realm of working capital efficiencies.
• The platform, powered by Veefin Solutions, provides an end-to-end digital SCF platform, aiming to enhance operational and financial efficiencies for all stakeholders involved in the supply chain.
• This initiative is aligned with the broader goal of fostering growth and sustainability in the MSME sector, a crucial driver of economic development.

Business News

Government's New Rules to Boost Ease of Business in Green Energy Sector

• In a pivotal move for the green energy sector, the government has introduced new rules to expedite energy storage establishment and enhance energy security.
• These rules specifically empower generating companies, those setting up captive generating plants, or consumers with a load exceeding a specified quantum to establish dedicated transmission lines without obtaining a license.
• The quantum for this exemption is set at not less than twenty-five Megawatts for the Inter-State Transmission System and ten Megawatts for the Intra-State Transmission System.
• This progressive step is aimed at streamlining processes, encouraging investment, and fostering ease of business in the critical domain of green energy, contributing to the nation's sustainable development goals.

Economy News

Wholesale Price Index (WPI) Inflation Surges to Nine-Month High in December 2023

• In December 2023, the Wholesale Price Index (WPI) experienced a noteworthy upswing, reaching a nine-month high at 0.73%. This marked a substantial rebound from the negative territory observed between April and October.
• The positive trajectory, continuing from November's 0.26%, was primarily influenced by significant increases in food prices, as highlighted by the Ministry of Commerce and Industry.
• Notable contributors to the spike in WPI inflation included a sharp rise in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products.

Union Budget: A Historical Overview

• As outlined in Article 112 of the Indian Constitution, the Union Budget stands as the financial blueprint of the government, projecting estimated revenue and expenditure for the fiscal year from April 1 to March 31.
• A historical shift occurred during the 2017-18 Union Budget, moving the presentation date to the first day of February and integrating the Railway Budget with the Union Budget.
• Originating during British colonial rule, India's inaugural budget was presented on April 7, 1860, by Finance Minister James Wilson.
• Post-independence, the first Union Budget took place on November 26, 1947, presented by Finance Minister Sir R.K. Shanmugham Chetty amid the challenges of partition.

Important Days News

National Startup Day 2024: Celebrating India's Entrepreneurial Spirit

• Declared by Prime Minister Narendra Modi in 2021, January 16 is celebrated as National Startup Day, a momentous occasion recognizing and celebrating India's flourishing startup ecosystem.
• This day serves as a dedicated platform for entrepreneurs to share insights, discuss innovations, and reflect on their journey.
• Beyond celebration, National Startup Day underscores the crucial role startups play in driving economic growth and job creation, contributing significantly to the nation's entrepreneurial landscape.

Ranks & Reports News

NITI Aayog Report: Over 24.8 Crore Indians Escape Multidimensional Poverty

• A recent NITI Aayog report brings positive news, indicating that 24.82 crore people in India have successfully escaped multidimensional poverty from 2013-14 to 2022-23.
• The impressive decline, from 29.17% to 11.28%, reflects progress in health, education, and standard of living.
• Uttar Pradesh leads at the state level, with 5.94 crore people escaping poverty, followed by Bihar at 3.77 crore and Madhya Pradesh at 2.30 crore.
• The comprehensive improvements span 12 indicators, encompassing nutrition, mortality rates, education, and more, showcasing India's strides towards poverty alleviation.

Agreements News

India Secures Lithium Blocks in Argentina to Reduce Import Dependency

• In a significant move, India secures exploration and development rights for five lithium blocks in Argentina, marking its second international venture into critical minerals after a partnership with Australia in 2022.
• This strategic step aims to diminish India's ₹24,000 crore lithium import dependency, primarily sourced from China. Under the agreement, Khanij Bidesh India Ltd.
• (KABIL) gains Exploration and Exclusivity Rights for five lithium brine blocks in Argentina, covering approximately 15,703 hectares.
• These blocks, including Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, are crucial to India's efforts in securing a stable and sustainable supply of lithium for its growing energy needs.

Appointments News

Vice Admiral AN Pramod Assumes Role as Director General Naval Operations

• In a significant appointment on January 15, 2024, Vice Admiral AN Pramod took charge as the Director General Naval Operations (DGNO).
• Graduating from the 38th Integrated Cadet Course at Naval Academy, Goa, in 1990, Vice Admiral Pramod has an illustrious career, specializing as a CAT 'A' Sea King Air Operations Officer and Communication & Electronics Warfare Specialist.
• His journey includes pivotal afloat appointments, such as Fleet Operations Officer for the Western Fleet, and command roles for IN ships Abhay, Shardul, and Satpura. Notably, he commanded the Naval Air Station, Utkrosh, at Port Blair.

Awards News

US Air Force Officer Madison Marsh Clinches Miss America 2024

• Second Madison Marsh, an active-duty officer in the U.S. Air Force, achieved a historic milestone by becoming the first active-duty service member to be crowned Miss America in 2024.
• Hailing from Colorado, the home of the U.S. Air Force Academy, Marsh represented her state proudly and holds a degree in physics from the academy.
• Beyond her academic achievements, Marsh has been actively involved in raising awareness and funds for pancreatic cancer research since 2018, co-founding the Whitney Marsh Foundation with her father and sister in honor of her mother who succumbed to the disease.

Deepa Bhandare Makes History with VSI Award

• Deepa Bhandare, associated with Shri Datta Cooperative Sugar Factory (SSK) in Shirol taluka of Kolhapur, made history by receiving the prestigious Best Environment Officer Award at the VSI Awards ceremony.
• This accolade, presented by VSI Chairman Sharad Pawar, marks a historic moment as Bhandare becomes the first woman in Maharashtra's sugar industry to receive this recognition.
• Noteworthy is Bhandare's commitment to inclusivity, exemplified by her initiative to spearhead the construction of a ladies' washroom at the sugar mill upon joining the industry.

Emmys Awards 2024 Showcases Excellence in Television

• The 75th Primetime Emmy Awards in 2024 celebrated the outstanding achievements in television, with HBO's "Succession" leading the nominations.
• The ceremony reflected the diverse and dynamic nature of contemporary television. Anthony Anderson, the seasoned actor and former star of ABC's "black-ish," hosted the event, delivering laughs and earning appreciative applause.
• The Emmy Awards stand as a testament to the evolving landscape of television and the creative brilliance exhibited by the industry's top talents.

Science & Technology News

Oxford Scientists Initiate Human Trials for Nipah Virus Vaccine

• In a groundbreaking initiative, Oxford scientists have commenced the first human trials for a vaccine targeting the deadly Nipah virus.
• This significant step, led by the Oxford Vaccine Group, aims to address the severe impact of the virus in Asian countries, including India.
• The experimental vaccine, named ChAdOx1 NipahB, is undergoing trials on 51 individuals aged 18 to 55. The Nipah virus poses a considerable threat with a fatality rate of approximately 75%, and this research marks a crucial effort towards finding effective preventive measures.

Sports News

ICC Players of the Month for December 2023: Pat Cummins and Deepti Sharma Shine

• The cricketing world witnessed exceptional performances in December 2023, recognized by the International Cricket Council (ICC) in awarding Australia's Pat Cummins and India's Deepti Sharma as the Players of the Month.
• Pat Cummins, Australia's captain, received the ICC Men's Player of the Month award for December, capping off a remarkable year.
• His leadership and bowling prowess played a pivotal role in Australia's Test series triumph against Pakistan. Deepti Sharma made history by winning her maiden ICC Women's Player of the Month award for December.
• Her outstanding performances across all three formats, particularly against England and Australia, earned her this well-deserved recognition.