International News

1. The Doomsday Clock: A Symbol Of Humanity’s Peril

• The Doomsday Clock, crafted by the Bulletin of the Atomic Scientists, serves as an ominous reminder of humanity's vulnerability to global catastrophes arising from technological and environmental challenges.
• Recently, heightened concerns have been sparked as the Doomsday Clock inches closer to midnight.
• Originating in 1947, just after the atomic bombings of Hiroshima and Nagasaki, the clock initially symbolized the nuclear threat.
• Over time, it has expanded its scope to encompass broader dangers, including climate change, emerging technologies, and biological hazards.

2. India's Humanitarian Gesture: Combating Locust Threat in Afghanistan

• In a commendable act of goodwill, the Indian government has extended a helping hand to Afghanistan in tackling the locust menace.
• A generous contribution of 40,000 liters of Malathion, an environmentally friendly pesticide known for its effectiveness in arid regions and minimal water usage, underscores India's commitment to international cooperation.
• Malathion's proven efficacy in locust control aligns seamlessly with Afghanistan's climate, while its environmentally conscious application addresses crucial ecological concerns.

Defence News

3. Iran Elevates Defense Capabilities with Homegrown Drones

• In a notable development, the Iranian military has achieved a significant milestone by officially incorporating a substantial number of domestically developed reconnaissance and combat drones.
• The ceremony, held on January 23, 2024, witnessed the delivery of advanced UAVs, including the multipurpose Ababil-4 and Ababil-5, Arash, Bavar, and Karrar jet-powered target drones.
• Tailored to specific mission profiles, these drones exemplify the versatility of Iran's indigenous drone technology, marking a stride forward in defense capabilities.

4. India-Egypt Joint Special Forces Exercise CYCLONE: Strengthening Ties

• The 2nd edition of the India-Egypt Joint Special Forces Exercise CYCLONE witnesses collaboration between 25 highly skilled personnel from The Parachute Regiment (Special Forces) of the Indian Army and counterparts from the Egyptian Commando Squadron and the Egyptian Airborne Platoon.
• This joint effort aims to familiarize both forces with each other's operating procedures in the context of Special Operations within desert and semi-desert terrain.
• The exercise reflects the commitment of India and Egypt to enhancing their military cooperation.

Economy News

5. Shaping India's Economic Trajectory: Union Budget Insights

• In compliance with Article 112 of the Constitution of India, the government annually presents the Union Budget to Parliament before the commencement of the fiscal year.
• This critical budget outlines projected receivables and payables, shaping India's economic trajectory from April 1st to March 31st.
• Key objectives include influencing changes in direct and indirect taxes, such as alterations to income tax rates and brackets.
• The Union Budget serves as a driving force for rapid and balanced growth, social justice, and equality in the country's economic landscape.
• For instance, the income tax slab for the fiscal year 2020-21 was determined by the budget, showcasing its direct impact on citizens' financial matters.

Banking News

6. RBI's Move Towards Regulatory Enhancement for Urban Co-Operative Banks

• In a recent announcement, the Reserve Bank of India (RBI) has unveiled revised eligibility norms for the inclusion of urban co-operative banks (UCBs) in the second schedule of the Reserve Bank of India Act, 1934.
• This strategic move aims to subject these banks to an updated regulatory framework. The Government of India, in a notification dated September 4, 2023, specifies that licensed Tier 3 and Tier 4 Primary (Urban) Co-operative Banks meeting the RBI's FSWM criteria are eligible.
• To secure a place in the Second Schedule, UCBs must adhere to specific criteria, including maintaining a Capital to Risk Weighted Asset Ratio (CRAR) at least 3% higher than the minimum requirement and ensuring regulatory and supervisory compliance with no major concerns.

Business News

7. JSW Group's Strategic Stake Acquisition Receives Competition Commission Approval

• The Competition Commission of India (CCI) has greenlit significant business transactions, including the JSW Group's acquisition of a substantial 38% stake in MG Motor India.
• CCI has also approved the merger between Fincare Small Finance Bank Limited and AU Small Finance Bank, designating AU Small Finance Bank as the surviving entity.
• Tata Electronics' complete acquisition of Wistron Infocomm Manufacturing (India) Pvt Ltd and Burman Family entities' shareholding acquisition in Religare Enterprises have also received CCI approval.
• These developments underscore a dynamic business landscape with strategic investments and mergers.

8. ONGC's Foray into Green Energy Gets Petroleum Ministry's Nod

• The Ministry of Petroleum and Natural Gas has granted approval for the formation of a dedicated subsidiary company by the Oil and Natural Gas Corporation Limited (ONGC) focusing on the green energy and gas sector.
• Tentatively named "ONGC Green Limited," the subsidiary is set to be wholly-owned by ONGC, pending approval from the Ministry of Corporate Affairs.
• This new entity aims to engage in various aspects of the energy sector's value chain, emphasizing green hydrogen, renewable energy, biofuels, and liquefied natural gas (LNG).

9. Timetooth Unveils India’s First Self-Made Aircraft Seat

• In a groundbreaking achievement for the Indian aviation industry, Bengaluru-based engineering company Timetooth has revealed India’s first domestically manufactured aircraft passenger seat at Wings India 2024.
• Departing from the industry norm of importing all aircraft seats, Timetooth, in collaboration with the Directorate General of Civil Aviation (DGCA) and Indian airline companies, has taken a pioneering step in introducing India’s indigenous aircraft passenger seat.

Important Days News

10. Celebrating National Girl Child Day 2024

• National Girl Child Day, observed annually on January 24th in India, serves as a vital platform for highlighting the importance of empowering girls and addressing the challenges they face.
• Initiated in 2008 by the Ministry of Women and Child Development, this day signifies a commitment to promote gender equality, empower girls, and protect their rights.
• Marked by various themes each year, the day emphasizes the need to address specific challenges faced by girls, contributing to a more inclusive and empowered society.

11. International Day of Education 2024: Nurturing Lasting Peace Through Learning

• Annually celebrated on January 24th, the International Day of Education holds paramount significance in highlighting the universal importance of education.
• In 2024, the theme "Learning for Lasting Peace" underscores the transformative power of education in fostering peace and understanding.
• Designated by the United Nations General Assembly in 2018, this day acknowledges the fundamental role education plays in promoting peace, development, and intercultural understanding.
• The theme encapsulates the idea that education is not merely a tool for knowledge but a catalyst for building a harmonious and peaceful world.

Schemes News

12. Telangana's Gruha Jyothi Scheme: Illuminating Homes With Free Electricity

• Chief Minister Revanth Reddy of Telangana is ushering in social welfare initiatives, with the much-anticipated Gruha Jyothi Scheme taking center stage.
• Minister Komatireddy Venkat Reddy has announced the initiation of the scheme's free electricity component starting February.
• Under Gruha Jyothi, households possessing a Below Poverty Line (BPL) card will receive 200 units of electricity free of charge each month.
• This initiative aims to alleviate the burden on economically disadvantaged families, ensuring that those within the 200-unit threshold experience no electricity charges.
• Telangana's commitment to social welfare shines through the Gruha Jyothi Scheme, contributing to the betterment of citizens' lives.

Ranks & Reports News

13. India’s Soaring Equity Market: Ranks 4th Globally

• India's equity market has achieved a remarkable milestone, surpassing Hong Kong's Hang Seng and securing the fourth position globally with a market capitalization of $4.33 trillion.
• This accomplishment reflects India's robust economic standing on the world stage. The United States maintains its position as the largest stock market with a market cap of $50.86 trillion, followed by China at $8.44 trillion and Japan at $6.36 trillion.
• Factors driving India's success include a surging retail investor base and the nation's stable political environment, making it an appealing alternative to China for global investors.

Agreements News

14. Serum Institute’s Collaborative Effort with CEPI for Global Health Preparedness

• In a significant stride towards global health preparedness, the Serum Institute of India (SII) has partnered with the Coalition for Epidemic Preparedness Innovations (CEPI) to join the network of vaccine producers in the Global South.
• This collaboration aims to enhance the response to future disease outbreaks by ensuring rapid, agile, and equitable means of vaccine production.
• CEPI, dedicated to preventing epidemics on a global scale, is investing up to $30 million to expand SII’s manufacturing capacity.
• This strategic collaboration aligns with the ambitious 100 Days Mission, endorsed by the G7, G20, and industry leaders, emphasizing the urgent need for swift responses to epidemic and pandemic threats.

Awards News

15. Bharat Ratna Honor for Former Bihar CM Karpoori Thakur: A Posthumous Recognition

• The Government of India has posthumously awarded the Bharat Ratna, the highest civilian honor, to former Bihar Chief Minister Karpoori Thakur (1924-1988).
• A stalwart in Bihar's political landscape, Thakur was a champion of social justice, particularly advocating for the rights of backward classes.
• Serving as Bihar's Chief Minister twice, his tenure left an indelible mark on the state's political history.
• This prestigious recognition acknowledges Thakur's significant contributions and enduring legacy in shaping Bihar's socio-political fabric.

16. Oscars 2024 Nominations: Christopher Nolan’s “Oppenheimer” Leads with 13 Major Nominations

• The 96th annual Academy Awards nominations have been revealed, and Christopher Nolan's film "Oppenheimer" has emerged as a frontrunner with an impressive 13 major nominations.
• Additionally, noteworthy films like "Poor Things," "Barbie," and "Killers of the Flower Moon" have also received significant recognition, promising a fiercely competitive and star-studded Oscars ceremony.
• In the Actress in a Leading Role category, standout performances include Annette Bening in "Nyad," Lily Gladstone in "Killers of the Flower Moon," and Emma Stone in "Poor Things," adding an extra layer of anticipation to the upcoming awards night.

Sports News

17. Historic Win for India at Asian Marathon Championships 2024: Man Singh Takes Gold

• The Asian Marathon Championships 2024 witnessed a historic moment for Indian athletics as 34-year-old marathon runner Man Singh secured the gold medal.
• Crossing the finish line with a remarkable personal best time of 2 hours, 14 minutes, and 19 seconds, Singh comfortably outpaced the runner-up Huang Yongzheng of China by an impressive 65 seconds.
• This outstanding performance not only surpassed Singh's previous personal best recorded at the Mumbai Marathon in 2023 but also marked him as the second Indian to claim the title of Asian marathon champion, following Thonakal Gopi's achievement in 2017.
• Man Singh's triumph is a testament to India's growing prowess in international athletics.

18. ICC Awards 2023: Rohit Sharma Leads ICC ODI Team of the Year

• In the ICC Awards 2023, the International Cricket Council (ICC) has recognized outstanding performances across formats for men and women. In the ICC Men’s ODI team of the year, six Indians were featured, with Rohit Sharma named as the captain of the 11-member team.
• The announcement of the ICC Teams of the Year, including T20I and ODI Teams, as well as the Test Team of the Year, unfolded over Monday and Tuesday.
• These selections highlight players from 11 teams based on their international performances throughout the calendar year.
• Rohit Sharma's leadership and exceptional cricketing skills have earned him the prestigious position of captain in the ICC ODI Team of the Year.