4th,5th and 6th January 2025 current affairs

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We at Edusprint Academy are committed to bringing you the most relevant and updated 4th,5th and 6th January 2025 current affairs, curated from trusted and official sources. These updates are designed to keep you ahead in your exam preparation journey.

Our comprehensive Current Affairs of 4th,5th and 6th January 2025 coverage aims to enhance your knowledge and boost your scores in Banking, Insurance, SSC, Railways, UPSC, and all State Government Exams. Explore our Current Affairs tailored to simplify your exam preparation

National news

Blinkit Launches 10-Minute Ambulance Service in Gurgaon

Blinkit CEO Albinder Dhindsa announced the launch of an instant ambulance service, where residents of Gurgaon can book an ambulance through the Blinkit app and have it arrive within 10 minutes. This initiative aims to address the critical need for quick emergency medical transport in urban areas. The service, which includes Basic Life Support (BLS) ambulances, marks a significant step toward providing fast and reliable medical aid.

Service Overview:

• Location: Gurgaon (Gurugram)
• Ambulance Arrival Time: Within 10 minutes
• Platform: Blinkit App
• Type of Ambulances: Basic Life Support (BLS) ambulances

Key Features:

• Equipment Onboard: Oxygen cylinders, defibrillators, stretchers, monitors, emergency medicines, and injections.
• Staff: Trained paramedic, assistant, and driver.

Cost and Profit Model:

• Affordable Pricing: The service is offered at an affordable rate.
• Non-Profit Initiative: Profit is not the primary goal; the focus is on providing fast emergency medical support.
• Expansion Plans: The service will gradually scale, with Blinkit planning to extend the service to major cities over the next two years.

Project VISTAAR: A Digital Revolution in Indian Agriculture

The Indian Institute of Technology Madras (IIT Madras) has joined forces with the Ministry of Agriculture and Farmers Welfare to launch Project VISTAAR (Virtually Integrated System to Access Agricultural Resources). This initiative aims to improve the efficiency of India’s agricultural extension services by leveraging digital technology, thereby offering farmers better access to innovative technologies and advisory support.

Enhancing Agricultural Extension via Digitalization

Project VISTAAR focuses on empowering farmers through the integration of advanced technologies into the agricultural sector. By digitizing the extension system, it will provide high-quality guidance on crop production, marketing, value addition, and supply chain management. Additionally, it will inform farmers about relevant government schemes in agriculture, rural development, and allied sectors, enabling them to fully capitalize on these opportunities.

Harnessing Start-up Innovations

• Start-ups play a pivotal role in tackling agricultural challenges by enhancing productivity, improving supply chains, and facilitating market access.
• IIT Madras, through its Centre for Research on Start-ups and Risk Financing, in collaboration with its incubated start-up YNOS Venture Engine, has developed an extensive database of over 12,000 agriculture-focused start-ups.
• This database will be incorporated into the VISTAAR platform, enabling farmers and stakeholders to discover innovative solutions, adopt new technologies, and improve agricultural practices.

Ministry of Agriculture and Farmers Welfare: minister: Shri Shivraj Singh Chouhan

Chhattisgarh’s Green GDP Initiative

Chhattisgarh has become the first Indian state to adopt the Green Gross Domestic Product (Green GDP) model, which integrates the ecological services of its forests into its economic planning. This initiative is designed to link environmental contributions—such as clean air, water conservation, and biodiversity—with the state’s economic development. The goal is to ensure sustainable growth while preserving the natural environment for future generations.

Understanding Green GDP

Green GDP is an alternative measure to traditional GDP, which typically omits environmental costs. While GDP measures economic output, Green GDP takes into account the ecological degradation caused by economic activities. This includes factors like resource depletion and pollution, providing a broader perspective on both economic health and environmental well-being.

Objectives of the Green GDP Initiative

Chhattisgarh’s Green GDP initiative focuses on several key objectives:

• Enhancing Budget Planning: By recognizing the economic value of ecosystem services, the state aims to improve financial planning and resource allocation.
• Policy Formulation: It supports the creation of policies that foster economic growth while ensuring ecological sustainability.
• Recognizing the Economic Value of Forests: The initiative acknowledges the critical role forests play in the state’s economy, formalizing the value of forest ecosystem services.

Chattishgarh’s:

• Capital: Raipur (Executive Branch)
• Governor: Ramen Deka
• CM: Shri Vishnu Deo

Government Considers Honorary Senior Ranks for Retiring Paramilitary Personnel

The Indian government is considering the introduction of honorary senior ranks for retiring Central Armed Police Force (CAPF) personnel who have not been promoted due to organizational constraints. The aim of this initiative is to boost morale and acknowledge the service of retiring personnel, especially those who were eligible for promotion but could not be promoted due to vacancies or delays within the system.

Proposal Details

• Proposal Origin: Former Director General of the Central Reserve Police Force (CRPF), Anish Dayal Singh, suggested that CAPF personnel who are eligible for promotion but are awaiting a vacancy could be granted the insignia of their next higher rank during their final month of service.
• Example: For instance, a Constable eligible for promotion to Head Constable could wear the Head Constable’s insignia during their last month of service. They would also receive the corresponding pay for that rank.
• Implementation: This proposal has been approved by Home Minister Amit Shah and is expected to be implemented across all CAPFs soon.

Context and Background: This proposal arises in response to delays in promotions within the CAPFs, which have been a long-standing concern. As of October 30, 2024, there were 100,204 vacant posts across all CAPFs, with 71,231 posts created between 2020 and 2024. Despite the creation of new posts, systemic issues in recruitment and internal promotion processes have led to delays in promotion timelines. The honorary rank initiative serves as a temporary solution while the government works on addressing these systemic challenges.

Historical Perspective

The concept of honorary ranks is not new to India:

• In the Indian Army, soldiers who have rendered exemplary service and are nearing retirement have been awarded honorary ranks such as junior commissioned officers shortly before their retirement. This practice, known as ‘brevet,’ has been followed since the British colonial era.
• The Indian Army has also conferred honorary ranks on prominent citizens and foreign trainees as a gesture of goodwill and recognition.

Implications of the Proposal

The introduction of honorary senior ranks for retiring CAPF personnel is expected to:

• Boost morale: It provides symbolic recognition for those who have not been promoted due to organizational constraints.
• Offer temporary relief: While the honorary ranks do not resolve the underlying systemic issues causing delays in promotions, they offer a temporary acknowledgment of service.
• Focus on long-term reforms: The government is working on addressing vacancies and improving promotion timelines within CAPFs, which will likely involve a long-term strategy to ensure quicker advancement for personnel.

Jammu is to be the 69th Railway Division of the Indian Railway

The Union Ministry of Railways has announced plans to establish the 69th railway division at Jammu, which will come under the Northern Railway Zone. This was communicated to the Northern Railway Zone in an official notification issued on 1st January 2025.

Currently, India has 68 railway divisions, and Jammu will be the next addition to this network. This initiative highlights the government’s focus on enhancing rail infrastructure in Jammu and Kashmir, further expanding India’s vast railway network.

About the Proposed Jammu Division

• Under Northern Railway Zone: Jammu will be the new division under the Northern Railway Zone, which is the largest zone of Indian Railways.
• Network Coverage: The division will manage a 742.1 km rail network, which will be formed by reorganizing the existing Firozpur Division.

Key Sections:

• Pathankot-Jammu-Udhampur (now martyr Captain Tushar Mahajan)
• Srinagar-Baramulla
• Bhogpur Sirwal-Pathankot
• Batala (excluding)-Pathankot
• Pathankot-Joginder Nagar

This division will contribute significantly to enhancing rail services and connectivity in the region, benefiting both passengers and freight transport.

Current Railway System in India

• India has the fourth largest rail network in the world, following the United States, China, and Russia.
• Indian Railways is the largest railway system under a single management, with around 1.25 million employees.

Railway Zones and Divisions in India

India’s railway operations are divided into 17 Zones and 68 Divisions. The key details of the 17 Railway Zones are as follows:

1. Central Railway: Mumbai Divisions: Mumbai, Bhusawal, Nagpur, Solapur, Pune
2. Eastern Railway: Kolkata Divisions: Asansol, Howrah, Malda, Sealdah
3. East Central Railway: Hajipur Divisions: Danapur, Dhanbad, Mughalsarai, Samastipur, Sonpur
4. East Coast Railway: Bhubaneswar Divisions: Khurda Road, Sambalpur, Waltair
5. Northern Railway: New Delhi Divisions: Ambala, Delhi, Lucknow, Moradabad, Ferozpur
6. North Central Railway: Allahabad Divisions: Prayagraj, Agra, Jhansi
7. North Eastern Railway: Gorakhpur Divisions: Lucknow, Izzatnagar, Varanasi
8. Northeast Frontier Railway: Guwahati Divisions: Katihar, Alipurduar, Rangiya, Lumding, Tinsukia
9. North Western Railway: Jaipur Divisions: Ajmer, Bikaner, Jaipur, Jodhpur
10. Southern Railway: Chennai Divisions: Chennai, Madurai, Palghat, Trichy, Trivandrum, Salem
11. South Central Railway: Secunderabad Divisions: Guntakal, Guntur, Hyderabad, Nanded, Secunderabad, Vijayawada
12. South Eastern Railway: Kolkata Divisions: Adra, Chakradharpur, Kharagpur, Ranchi
13. South East Central Railway: Bilaspur Divisions: Bilaspur, Nagpur, Raipur
14. South Western Railway: Hubli Divisions: Bangalore, Hubli, Mysore
15. Western Railway: Mumbai Divisions: Mumbai, Vadodara, Ratlam, Ahmedabad, Rajkot, Bhavnagar
16. West Central Railway: Jabalpur Divisions: Bhopal, Jabalpur, Kota
17. Metro Railway: Kolkata Divisions: Not applicable

Status of Other Railway Zones

• Konkan Railway: Operates a 741 km line connecting Mumbai to Mangalore but is managed by Konkan Railway Corporation Limited and is not considered an operational zone of Indian Railways.
• South Coast Railway Zone: Announced in 2019, this zone will be headquartered in Visakhapatnam, Andhra Pradesh. However, the official notification for its establishment has not been issued yet.

Significance of Jammu Division: The establishment of the Jammu Division is expected to improve rail connectivity and infrastructure in the Jammu and Kashmir region, which has seen significant demand for better transport services. This move is also in line with India’s broader efforts to enhance transportation networks in border areas, promoting economic growth and regional development.

The proposal for this new division reflects the government’s focus on decentralizing railway operations to streamline management and address growing regional transportation needs.

Summit news

PM Modi inaugurates Grameen Bharat Mahotsav 2025 in New Delhi

Prime Minister Narendra Modi inaugurated the Grameen Bharat Mahotsav being organised in New Delhi on 4 January 2025. During the inaugural ceremony the Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, and Union Minister of State for Finance, Pankaj Chaudhary were also present.

• The Grameen Bharat Mahostav is being held in New Delhi from 4-9 January 2025.
• The Grameen Bharat Mahotsav brings together the leaders from the government, rural economy, and industry to discuss ways and strategies to build a prosperous and self-reliant rural India.

Organiser of the Grameen Bharat Mahotsav: The Grameen Bharat Mahotsav has been organised by the Department of Financial Services, the Union  Ministry of Finance, and the National Bank for Agriculture and Rural Development (NABARD).

Theme and Motto of the Grameen Bharat Mahotsav

The theme of the Grameen Bharat Mahotsav is “Building a Resilient Rural India for a Viksit Bharat 2024”.

The motto of the Grameen Bharat Mahotsav “If villages grow, the country grows”

Objectives of the Grameen Bharat Mahotsav: The following are the main objectives of the Grameen Bharat Mahotsav.

Explore  strategies for the implementation of rural development programs

The Mahotsav will provide a platform for the stakeholders to explore and build strategies to implement four key pillars of rural development; Self-reliance for farmers and artisans; rural women empowerment; skill development for the rural youth; financial inclusion for marginalised rural communities.

International news

India provides $5 Lakh aid to earthquake-hit Vanuatu

The Government of India has announced an aid of $5 lakh to the Pacific Ocean island nation of Vanuatu, which has been severely impacted by two successive earthquakes in December 2024. This aid will support relief, rehabilitation, and reconstruction efforts in the country.

Details of the Earthquakes

• First Earthquake (17 December 2024): A 7.3 magnitude earthquake struck Vanuatu, resulting in 14 fatalities and over 200 injuries. The government of Vanuatu imposed a dawn-to-dusk curfew to deal with the aftermath of the destruction.
• Second Earthquake (22 December 2024): A second earthquake of 6.1 magnitude caused widespread panic and further damage to infrastructure, including commercial and residential buildings, embassies, and a hospital.

India-Vanuatu Relations

Diplomatic Relations: India established diplomatic relations with Vanuatu in 1986, although India does not have an embassy in the country. The Indian High Commission in Wellington, New Zealand, is responsible for handling Vanuatu-related matters.

Membership in FIPIC: Vanuatu is a member of the Forum for India-Pacific Islands Cooperation (FIPIC), which includes 13 other countries from the Pacific region.

Historical Assistance:

• 2015: India provided $2.5 lakh to Vanuatu after the devastation caused by Cyclone Pam.
• 2018: India gave a $2 lakh grant for humanitarian assistance to help in the resettlement of Ambae island residents following a volcanic eruption.
• Since 2006: India has contributed US$ 669,093 for various community development projects in Vanuatu.

About Vanuatu

Geography: Vanuatu is an island nation located in the southwestern Pacific Ocean, about 800 km west of Fiji and 1,770 km east of Australia. It consists of 13 main islands and many smaller ones.

• Capital: Port Vila
• Prime Minister: Charlot Salwai
• Currency: Vatu
• Independence: Vanuatu gained independence in 1980.
• Ethnic Composition: The population is primarily Melanesian.

MoU between India & Indonesia on Non-Basmati White Rice Trade

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Memorandum of Understanding (MoU) between the Union Ministry of Cooperation and the Ministry of Trade of Indonesia. This MoU focuses on the supply of Non-Basmati White Rice from India to Indonesia. The agreement is expected to improve bilateral trade relations and help Indonesia address its domestic rice demand.

Key Terms of the MoU:

Quantity: India will supply one million metric tonnes of Non-Basmati White Rice to Indonesia annually, at the prevailing international market price.

Duration: The MoU will last for four years, with an automatic extension for another four years, ensuring a long-term supply chain agreement.

Supply Mechanism:

• The rice will be supplied by National Cooperative Exports Limited (NCEL), a newly established cooperative body.
• The rice will be sourced exclusively from cooperative societies across India.

Impact on Trade Balance: The export of rice is expected to improve India’s trade balance, which has been significantly in favor of Indonesia in recent years. In 2023-24, India’s exports to Indonesia stood at USD 5.99 billion, while imports from Indonesia were USD 23.4 billion.

Bilateral Trade Relations:

• India and Indonesia are significant trading partners. Indonesia is India’s 8th-largest trading partner, and India is the second-largest buyer of Indonesian coal and crude palm oil.
• In 2023-24, the bilateral trade between the two countries amounted to USD 29.4 billion, underscoring the importance of this agreement in enhancing economic ties.

Indian Rice Exports:

• India is the largest exporter of rice globally, with Non-Basmati White Rice being a major export variety.
• In 2023-24, the total export of Non-Basmati Rice was INR 37,804.48 crore (approximately USD 4.57 billion), with key export markets including Benin, Guinea, Togo, Cote D’Ivoire, and Vietnam.
• India also exports Basmati Rice, a premium variety, with major destinations including Saudi Arabia, Iran, Iraq, UAE, USA, and Yemen.

Ban on Non-Basmati Rice Exports:

• In July 2023, India imposed a ban on the export of Non-Basmati White Rice to control domestic rice prices.
• However, the ban was lifted in September 2024, with the introduction of a minimum export price (MEP) of USD 490 per tonne to ensure the price stability in the domestic market.

National Cooperative Exports Limited (NCEL):

NCEL was established in 2023 as a Multi-State Cooperative Society under the Multi-State Cooperative Societies Act, 2002.

• The organization aims to serve as an umbrella body for the cooperative sector’s exports in India.
• It was promoted jointly by leading cooperatives such as GCMMF, IFFCO, NAFED, KRIBHCO, and NCDC.
• Headquarters: New Delhi
• Managing Director: Unupom Kausik

State news

Telangana’s Rythu Bharosa Scheme Expansion

The Rythu Bharosa scheme in Telangana has been expanded to provide financial assistance to all farmers cultivating crops, with the aim of enhancing agricultural support across the state.

Key Details of the Expansion

• Financial Assistance: Each eligible farmer will receive ₹7,500 per acre per crop season. This assistance will benefit around 70 lakh farmers in Telangana.
• Implementation Timeline: The government plans to launch the scheme around the Sankranti festival. Gram Sabhas will be conducted from January 5 to 7 to collect applications from eligible farmers.
• Financial Implications: The Telangana government intends to raise ₹30,000 crore in market borrowings during the last quarter of the 2024-25 financial year to fund the scheme.

Background and Evolution: Replacement of Rythu Bandhu: The Rythu Bharosa scheme replaces the earlier Rythu Bandhu scheme, which provided ₹5,000 per acre. The Congress party had raised concerns over the misuse of funds under the previous scheme, where ineligible beneficiaries received excess payments. The new scheme focuses only on lands that are actively cultivated to avoid such issues.

Implementation Strategy: A Cabinet sub-committee, led by Deputy Chief Minister Mallu Bhatti Vikramarka, has finalized a report to ensure that only genuine farmers receive benefits, thus preventing leakages and misuse of funds.

Financial Management

• The government plans to raise ₹30,000 crore in market borrowings during the final quarter of 2024-25, which will be raised in three tranches of ₹10,000 crore each.
• The Reserve Bank of India will conduct securities auctions every Tuesday during this period.

Government Borrowing Restrictions

The Union Finance Ministry has placed limits on state borrowings due to financial management concerns. Although the Telangana government initially projected borrowings exceeding ₹61,000 crore, this figure was revised to ₹49,255 crore. By the end of November 2024, the state had borrowed ₹37,850 crore, with additional borrowings planned for December.

The final approval for exceeding the borrowing ceiling lies with the Government of India, and the finance department has not disclosed whether such approval has been granted.

Telangana:

• Capital: Hyderabad
• Chief minister: Revanth Reddy
• Governor: Jishnu Dev Varma

Assam’s Elephant Population Sees 7-Year Rise

Assam’s Elephant Population Estimate for 2024 reveals a positive growth, with an estimated 5,828 elephants, marking an increase of 109 elephants from the previous count of 5,719 in 2017. This estimate, conducted through a synchronized survey, underscores the stability of Assam’s elephant population despite challenges such as habitat fragmentation and human-elephant conflicts.

Key Findings:

Total Elephant Population: Estimated at 5,828, showing a rise of 109 elephants from 2017 (5,719).

Estimation Process:

• The survey was conducted from February 20-27, 2024.
• It involved 5,743 personnel across 1,536 survey blocks in 43 forest divisions.

Population Distribution:

• 82% (4,777 elephants) are found in five Elephant Reserves.
• 68% of the population resides in protected areas.
• 30.4% are in managed forests.
• 1.6% are located in revenue areas.

Elephant Density:

• Chirang-Ripu Reserve recorded the highest density with 79 elephants per 100 sq. km.
• Dhansiri-Lungding Reserve recorded the lowest density at 6 elephants per 100 sq. km.

Reproduction and Gender Ratios:

Female to Calf Ratio: There are 49 calves per 100 adult females, indicating healthy reproduction rates.

Tusker-to-Makhna Ratio: Improved from 1:2.63 (2017) to 1:1.97 (2024).

Conservation Challenges:

• Habitat Degradation and Fragmentation: Particularly in reserves like Dhansiri-Lungding, where habitat is degrading.
• Human-Elephant Conflicts: Increased interaction with urban and agricultural areas is contributing to growing conflicts.
• Recommendations for Conservation: Strengthen anti-poaching efforts: Enhance measures to protect elephants from illegal activities.
• Undertake habitat restoration: Focus on low-density regions for better forest management.
• Secure elephant corridors: Notify and protect corridors to ensure safe movement.
• Advanced monitoring: Implement techniques like radio-telemetry to study elephant movements.
• Adaptive management strategies: Adopt flexible and long-term conservation strategies.

The findings underline the importance of strengthening conservation efforts to address the challenges elephants face while ensuring sustainable coexistence with human populations.

Assam:

• Capital: Dispur
• Chief minister: Himanta Biswa Sarma
• Governor: Lakshman Acharya

Economy news

Nomura Lowers India’s FY25 GDP Growth Forecast to 6.7%

Nomura has revised its GDP growth forecast for India in fiscal year 2025 to 6.7%, down from its earlier estimate of 6.9%. This adjustment follows a slower-than-expected growth of 6.7% in the April-June quarter of 2024, down from the 7.8% growth in the previous quarter.

Key Factors for the Downgrade:

• Government Spending: Reduced expenditure during the national elections contributed to the slowdown.
• Consumer Demand: Weak urban consumption due to high interest rates and moderating wage growth.
• Industrial Activity: Slower industrial growth, reflected in declines in passenger vehicle and commercial vehicle sales.

Comparative Outlook: Goldman Sachs and J.P. Morgan have maintained their forecast for India’s FY25 GDP growth at 6.5%, showing a more optimistic view compared to Nomura.

Implications and Future Outlook:

• Nomura expects easing inflation and increased government spending to help support growth in the near future.
• However, concerns over lower corporate profit growth and moderated credit growth may continue to pose challenges to the economy.

In summary, while there are some supportive factors, the overall economic outlook for India has been adjusted downwards, with Nomura taking a more cautious stance.

India Revises GDP Base Year to 2022-23

In a significant move to improve the accuracy of economic assessments, the Government of India has announced plans to update the base year for calculating Gross Domestic Product (GDP) from 2011-12 to 2022-23. This revision, the first in over a decade, is intended to better reflect the current economic landscape and structural changes.

Key Developments:

• Advisory Committee Formation: A 26-member Advisory Committee on National Accounts Statistics (ACNAS), chaired by Biswanath Goldar, has been established. The committee includes representatives from the Reserve Bank of India (RBI), central and state governments, academia, and researchers. It will focus on identifying new data sources and refining the methodology for compiling the National Accounts Statistics under the revised series.
• Implementation Timeline: The revised GDP series, based on the 2022-23 base year, is expected to be implemented by early 2026. This timeline allows for thorough data collection and analysis to ensure the accuracy of the updated series.
• Rationale for Revision: Updating the base year is critical to reflect structural changes in the economy, such as shifts in consumption patterns, sectoral contributions, and the emergence of new sectors. Aligning with the economic realities of 2022-23 will enhance the precision of the GDP framework, providing a more accurate basis for policy formulation and economic analysis.
• Additional Initiatives: Alongside the base year revision, the Ministry of Statistics and Programme Implementation (MoSPI) will introduce monthly estimates of the Periodic Labour Force Survey (PLFS) starting from January 2025. This will improve data-driven decision-making and the quality of labor market statistics.

Implications:

The revision of the base year and the introduction of monthly PLFS estimates are expected to provide policymakers, researchers, and analysts with more relevant and timely data, enhancing economic planning and decision-making.

Banking news

SBI Introduces ‘Har Ghar Lakhpati’ and ‘SBI Patrons’ Deposit Schemes

The State Bank of India (SBI) has introduced two innovative deposit schemes, ‘Har Ghar Lakhpati’ and ‘SBI Patrons,’ designed to enhance financial inclusion and cater to diverse customer needs.

1. Har Ghar Lakhpati: Pre-Calculated Recurring Deposit Scheme

Objective: The scheme is designed to help customers accumulate ₹1 lakh or multiples thereof, simplifying the process of achieving financial goals.

Key Features:

• Available to minors, promoting early financial planning.
• Helps customers save consistently and meet their financial aspirations with pre-calculated deposits.
• Offers flexible tenures: 12 months (1 year) to 120 months (10 years).
• Interest rates: Aligned with the rates offered for fixed deposits.

2. SBI Patrons: Specialized Fixed Deposit for Senior Citizens

Objective: Tailored for senior citizens aged 80 years and above, this scheme offers enhanced interest rates, reflecting SBI’s commitment to rewarding long-standing relationships with its customers.

Key Features:

Eligibility: Available to both existing and new term deposit customers.

Interest Rates: Senior citizens receive an additional 10 basis points (bps) over the regular rates.

• Above 1 year: 6.80%
• Above 2 years: 7%
• Above 3 years to less than 5 years: 6.75%

For 5-10 years: 6.5%

Strategic Objectives of SBI’s Deposit Schemes:

• Enhance Financial Inclusion: Offering products that cater to specific customer segments such as minors and senior citizens.
• Strengthen Market Leadership: Reinforcing SBI’s position as a leading provider of deposit products.
• Goal-Oriented Savings: Providing tailored, goal-driven deposit products that meet customers’ financial aspirations.

SBI’s Vision: SBI’s Chairman CS Setty highlighted the bank’s commitment to innovation and technology, emphasizing that these deposit schemes are part of SBI’s broader efforts to empower customers and contribute to India’s journey towards becoming a developed nation by 2047.

RBI Approves Merger of National and Cosmos Co-operative Banks

The Reserve Bank of India (RBI) has approved the merger of National Co-operative Bank (Bangalore) with Cosmos Co-operative Bank (Maharashtra), effective January 6, 2025. This merger is a significant move as part of ongoing efforts to consolidate the banking sector in India, particularly within the co-operative banking space.

Key Points of the Merger:

• RBI Approval: The merger has been sanctioned by the RBI under the powers conferred by Sub-Section (4) of Section 44A and Section 56 of the Banking Regulation Act, 1949.
• Effective Date: The merger will take effect from January 6, 2025.

Branch Operations Post-Merger:

All 13 branches of National Co-operative Bank in Karnataka will continue to operate but will now function as branches of Cosmos Co-operative Bank.

Previous Mergers: In FY24, Maratha Sahakari Bank and Sahebrao Deshmukh Sahakari Bank were also merged with Cosmos Co-operative Bank.

RBI Restrictions on National Co-operative Bank: In July 2023, the RBI imposed restrictions on National Co-operative Bank due to its weak financial performance, including a limit on deposit withdrawals to ₹50,000 per account. These restrictions were extended up to January 24, 2025.

Merger Rationale: The merger aims to strengthen the financial health and operational reach of both banks. It is part of broader efforts to streamline and improve the efficiency of the co-operative banking sector in India, ensuring better services and sustainability.

This merger is seen as a step forward in India’s ongoing banking sector consolidation, enhancing the resilience and competitiveness of co-operative banks.

SBI Enhances NRI Account Opening with TAB-Based Digital Onboarding

The State Bank of India (SBI) has launched a TAB-based end-to-end digital onboarding process for Non-Resident Indians (NRIs) to streamline the opening of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. This initiative, introduced on January 2, 2025, eliminates the need for physical paperwork and aims to speed up the account opening process through digital document verification.

Key Features of the New Digital Onboarding Process:

• Digital Document Verification: The process allows for the digital verification of documents, reducing paperwork and increasing operational efficiency.
• Availability Across Branches: This service is available at SBI branches across India and select foreign offices, providing more access points for NRIs.
• Enhanced Customer Convenience: The bank leverages technology to offer a seamless, efficient account-opening experience, making it easier for NRIs to manage their finances.
• Real-Time Application Tracking: Customers can track the status of their applications in real time, ensuring transparency throughout the process.
• Integration with e-KYC Services: The onboarding process integrates e-KYC services to verify identity and address details via UIDAI (Unique Identification Authority of India). This increases security and accuracy in customer verification.

SBI’s Commitment to Digital Banking: This initiative reflects SBI’s commitment to using advanced technology in its banking services, aiming to set new standards for global banking efficiency and accessibility. By eliminating physical paperwork, the bank continues to modernize and enhance its customer service.

Historical Context and Evolution: SBI’s adoption of digital solutions for onboarding started in 2013 with the launch of Tab Banking for resident Indian customers, enabling representatives to visit customers and complete account formalities using tablets. This new initiative for NRIs marks a further evolution of SBI’s digital banking services.

RBI Reports 98.12% of ₹2,000 Notes Returned

As of December 31, 2024, the Reserve Bank of India (RBI) reported that 98.12% of the ₹2,000 denomination banknotes have been returned to the banking system, with a remaining ₹6,691 crore still held by the public.

Background: On May 19, 2023, the RBI announced the withdrawal of ₹2,000 banknotes from circulation. At that time, the total value of these notes in circulation was ₹3.56 lakh crore.

By the end of 2024, this amount had significantly dropped to ₹6,691 crore, indicating a strong return of currency to the banking system.

Public Exchange Facilities:

• The RBI allowed deposit and exchange of ₹2,000 notes at all bank branches until October 7, 2023.
• After October 7, 2023, exchange facilities were available only at the 19 issue offices of the RBI, located across major cities in India. These offices also began accepting ₹2,000 notes for deposit from individuals and entities starting October 9, 2023.
• The public could also send ₹2,000 notes through India Post from any post office to any RBI issue office for credit to their bank accounts.

Current Status:

• As of December 31, 2024, ₹6,691 crore worth of ₹2,000 banknotes remained with the public.
• The RBI continues to accept these notes at its 19 issue offices across Ahmedabad, Bengaluru, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram.
• This marks a significant phase in the currency withdrawal process, with a large percentage of ₹2,000 notes already returned to the banking system.

Award news

Odia Poet Prativa Satpathy to Receive Gangadhar National Award

The prestigious Gangadhar National Award for Poetry 2023 will be presented to Prativa Satpathy, a renowned Odia poet, by Sambalpur University on its 58th foundation day on January 5, 2025. The award, instituted in 1989, honors exceptional contributions to the field of poetry and is named after the eminent Odia poet Gangadhar Meher.

Key Points:

Recipient: Prativa Satpathy, a distinguished Odia poet and winner of the Sahitya Akademi Award, will be recognized for her significant contribution to poetry.

Award Ceremony: The award will be presented during Sambalpur University’s 58th foundation day celebrations on January 5, 2025.

Award History:

• Establishment: The Gangadhar National Award was created in 1989 and was first presented in 1991. It is awarded annually during the foundation day celebrations of Sambalpur University.
• Award Details: The award includes a citation, a shawl, and a cash prize of ₹1,00,000.
• Previous Recipients: Notable poets who have received the award include Gulzar, Kedar Nath Singh, and Ayyapa Panikar.

About Prativa Satpathy:

• Literary Career: Prativa Satpathy gained prominence in the 1960s with her poem ‘Sesha Janha’.
• Translations: Her works have been translated into various Indian and foreign languages.
• Recognition: In addition to the Gangadhar National Award, she is the recipient of the Sahitya Akademi Award for her contribution to literature.

Award Criteria:

The Gangadhar National Award is conferred for excellence in poetry through a thorough selection process. It recognizes poets who have made significant contributions to the literary world, particularly in the field of poetry.

The award is a prestigious recognition of the literary achievements of poets like Prativa Satpathy, who have enriched the cultural and literary landscape.

Sai Paranjpye to Receive Padmapani Lifetime Achievement Award

Sai Paranjpye, the legendary director and writer in Indian cinema, will be honored with the Padmapani Lifetime Achievement Award at the Ajanta-Ellora International Film Festival (AIFF) 2025. Known for her influential films like Sparsh, Chashme Buddoor, Katha, and Saaz, Paranjpye is considered a key figure in India’s parallel cinema movement, which flourished in the 1970s and 1980s. The award celebrates her remarkable contributions to Indian cinema and Marathi literature.

Key Points:

• Award and Event: Sai Paranjpye will receive the Padmapani Lifetime Achievement Award during the 10th edition of the AIFF.
• Event Dates and Location: The festival will be held from January 15 to 19, 2025, in Chhatrapati Sambhajinagar. The award will be presented at the opening ceremony on January 15 at the Rukmini Auditorium, MGM University Campus.

Contribution to Cinema:

• Paranjpye is known for her slice-of-life films, with a legacy of exploring real, relatable stories through films such as Sparsh, Chashme Buddoor, Katha, and Saaz.
• She was a prominent figure in the parallel cinema movement, working alongside Shyam Benegal, Govind Nihalani, and Mani Kaul.
• Apart from films, she has also contributed significantly to Marathi literature through her plays, including Jaswandi, Sakkhe Shejari, and Albel.

Career Highlights:

• Paranjpye, now 86 years old, has won four National Awards in recognition of her cinematic achievements.
• She served as the Chairperson of the Children’s Film Society of India (CFSI) twice.
• In 2006, she was awarded the Padma Bhushan for her contributions to Indian cinema.
• Paranjpye is also a graduate of Delhi’s National School of Drama.

Award Details:

• The Padmapani Lifetime Achievement Award will include a Padmapani memento, a letter of honour, and a monetary reward of ₹2 lakh.
• The Padmapani Award Selection Committee includes prominent figures such as Latika Padgaonkar (chairperson), Ashutosh Gowariker, and Sunil Sukthankar.

Ranks and report news

Decline in Student Enrolment: UDISE+ Report 2023-24

The Ministry of Education’s Unified District Information System for Education Plus (UDISE+) report for 2023-24 reveals a significant decline in student enrolment, marking a shift from the stable trends of previous years.

What is UDISE+?

The Unified District Information System for Education Plus (UDISE+) is an online data collection system introduced in 2018-19 by the Department of School Education & Literacy. It replaced the manual, paper-based data collection process, improving data capture, mapping, and verification.

Key Findings:

Overall Enrolment Decline:

• The total student enrolment has decreased to 24.8 crore in 2023-24, a drop of over one crore compared to previous years.
• This represents a 6% decline from 26.02 crore recorded in 2018-19.

Gender-wise Enrolment Trends:

• Boys: Enrolment fell from 13.53 crore in 2018-19 to 12.87 crore in 2023-24, marking a 4.87% decline.
• Girls: Enrolment decreased from 12.49 crore in 2018-19 to 11.93 crore in 2023-24, a 4.48% decline.

Regional Variations:

• Bihar: Enrolment dropped from over 2.49 crore in 2018-19 to over 2.13 crore in 2023-24, a decrease of 35.65 lakh students.
• Uttar Pradesh: Enrolment fell from 4.44 crore in 2018-19 to 4.16 crore in 2023-24, a reduction of 28.26 lakh students.
• Maharashtra: Enrolment decreased from over 2.32 crore in 2018-19 to 2.13 crore in 2023-24, a decline of 18.55 lakh students.

School Infrastructure:

• 90%+ of schools have basic amenities like electricity and gender-specific toilets.
• 57.2% of schools have functional computers.
• 53.9% of schools have internet access.
• 52.3% of schools are equipped with ramps.

Implications:

The substantial drop in enrolment raises concerns regarding the effectiveness of current educational policies and the need for targeted interventions. The data collected through UDISE+ will be vital in guiding future strategies aimed at improving student enrolment and retention rates across various states and demographics, and addressing regional disparities and infrastructure challenges.

Science and tech news

Human Metapneumovirus (HMPV) Outbreak in China

China is currently experiencing a significant increase in cases of Human Metapneumovirus (HMPV), sparking concerns about a potential health crisis. Hospitals are becoming overcrowded, and experts suggest that a combination of multiple viruses, including HMPV, influenza A, Mycoplasma pneumoniae, and COVID-19, may be contributing to the situation. Although some reports suggest a state of emergency, there has been no official confirmation from Chinese authorities.

Understanding HMPV

Human Metapneumovirus (HMPV) is a respiratory virus responsible for both upper and lower respiratory infections. It was first identified in 2001 and affects people of all ages. However, young children, elderly individuals, and those with weakened immune systems are particularly vulnerable to severe infections.

Symptoms of HMPV

The symptoms of HMPV resemble those of other respiratory infections, such as the flu:

• Cough
• Fever
• Nasal congestion
• Shortness of breath

In severe cases, HMPV can lead to complications such as:

• Bronchitis
• Pneumonia
• The incubation period typically lasts between three to six days, with symptom duration varying based on the severity of the infection.

Transmission of HMPV

HMPV spreads in similar ways to other respiratory viruses:

• Through respiratory secretions from coughing and sneezing.
• Close personal contact, such as handshaking or touching.
• Contact with contaminated surfaces (e.g., doorknobs, toys) followed by touching the face (mouth, nose, or eyes).

High-Risk Groups

Certain populations are more likely to develop severe infections:

• Young children
• Older adults
• Individuals with compromised immune systems (e.g., cancer patients, organ transplant recipients).
• When to Seek Medical Attention

Important days

DRDO’s 67th Foundation Day

The Defence Research and Development Organisation (DRDO) celebrated its 67th Foundation Day on January 2, 2025. Since its establishment in 1958, DRDO has expanded from a small organization with just 10 laboratories to a vast network of around 52 laboratories and 5 DRDO Young Scientist Laboratories (DYSLs) across India. These laboratories work on advanced defence technologies in areas such as missiles, aircraft, combat vehicles, naval systems, electronics, and life sciences.

Key Highlights of the Event:

• Raksha Mantri Shri Rajnath Singh visited the DRDO Headquarters in New Delhi, where he interacted with senior scientists and officials.
• Shri Rajnath Singh praised DRDO for its achievements and called for increased collaboration with the private sector and start-ups to boost indigenous defence capabilities.
• Raksha Rajya Mantri Shri Sanjay Seth and DRDO Chairman Dr. Samir V. Kamat were also present during the celebrations.

Key Achievements of DRDO:

Mission: Empowering India’s Defense

• DRDO’s core mission is to provide India’s armed forces with cutting-edge defence technologies and ensure self-reliance in critical defence systems.
• Focus on reducing reliance on foreign imports.

Significant Contributions:

• Agni and Prithvi missile series: Capable of carrying nuclear warheads.
• Light Combat Aircraft (LCA) Tejas: India’s first indigenous fighter jet.
• Arjun Main Battle Tank: Advanced tank designed and developed by DRDO.
• INS Arihant: India’s first nuclear-powered submarine.

Advanced radars and electronic warfare systems.

Development of critical medical technologies and remote sensing technologies.

Future Endeavours: DRDO is working on cutting-edge technologies to ensure that India remains at the forefront of defence advancements, including:

• Hypersonic missiles.
• Directed energy weapons.
• Artificial intelligence.
• 5G networks for the Indian military.
• Quantum computing.

Vision for the Future:

• Shri Rajnath Singh declared 2025 as the ‘Year of Reforms’, underscoring DRDO’s pivotal role in meeting the country’s defence needs.
• He emphasized the importance of completing 2-3 critical projects by 2025, with the goal of 100 projects completed by the next Foundation Day.

World Braille Day: Celebrating Inclusivity and Accessibility

World Braille Day, observed annually on January 4, marks the birth anniversary of Louis Braille, the inventor of the Braille system. Recognized by the United Nations General Assembly (UNGA) in 2018, the day highlights the importance of Braille in promoting literacy, independence, and inclusivity for visually impaired individuals.

Key Points:

Background and History:

• Date: January 4 (Louis Braille’s birth anniversary).
• First Observed: January 4, 2019.
• UN Recognition: Declared by the UNGA in November 2018.
• Purpose: To raise awareness about the importance of Braille as a communication tool and a means to ensure human rights for blind and visually impaired individuals.

Who Was Louis Braille?

• Born: 1809 in Coupvray, France.
• Invention: Braille lost his eyesight due to an accident at a young age and, at 15, developed the Braille system.
• Inspiration: The system was inspired by a military night-writing code.
• Impact: His six-dot tactile system has become the universal medium for visually impaired people to read and write effectively.

Significance of Braille:

• Empowerment: Braille represents independence, literacy, and equality for visually impaired individuals.
• Access to Opportunities: It provides access to education, information, and employment, enabling people to lead dignified lives.
• Inclusivity: Literacy through Braille helps bridge the gap towards a more inclusive society.

Challenges in Braille Access:

• Lack of Resources: Many visually impaired individuals around the world face difficulties in accessing Braille materials.
• Developing Nations: Countries with fewer resources struggle with limited availability of Braille books, learning materials, and assistive technologies.
• Awareness and Funding: Insufficient funding and low awareness hinder the widespread adoption and accessibility of Braille.