Current Affairs Feb 20, 2024
NATIONAL NEWS
Government Increases Authorized Capital of Food Corporation of India (FCI)
- The authorized capital of FCI was raised from ₹10,000 crores to ₹21,000 crores by the government.
- Demonstrates commitment to enhancing operational capacities and ensuring food security.
- The initiative was announced by the Food Ministry to strengthen FCI’s role and safeguard farmers’ interests.
- Augmentation aims to bolster operational efficiency, reduce interest burdens, and impact government subsidies positively.
Overview of Food Corporation of India (FCI)
- Statutory body under the Ministry of Consumer Affairs, Food and Public Distribution, established in 1965.
- Enacted through the Food Corporation Act, of 1964, to fulfil National Food Policy objectives.
- Initially headquartered in Chennai, later relocated to New Delhi.
- One of India’s largest government corporations, overseeing a significant portion of the nation’s food supply chain management.
- Procures approximately 15-20% of India’s wheat output and 12-15% of its rice output annually.
- Purchases made at Minimum Support Price (MSP) with no procurement restrictions, subject to Fair Average Quality criteria.
SUMMIT NEWS
INDUS-X Summit 2024: Enhancing India-US Defense Innovation
- Scheduled for February 20-21, 2024, in New Delhi, signifies a significant milestone in India-US defense collaboration.
- Organized by Innovations for Defence Excellence (iDEX), the U.S.-India Business Council, and the Society of Indian Defence Manufacturers (SIDM).
- Aimed at fostering strategic technology partnerships and defense industrial cooperation between India and the United States.
BANKING NEWS
IREDA and PNB Sign MoU to Advance Renewable Energy Initiatives
- A Memorandum of Understanding (MoU) was inked between the Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB).
- Signed at IREDA’s New Delhi office on February 19, 2024, to bolster renewable energy projects nationwide.
- The agreement facilitates collaboration in co-lending and loan syndication for various renewable energy ventures.
- Aims to accelerate the transition towards sustainable energy and contribute to India’s renewable energy targets.
IREDA (Indian Renewable Energy Development Agency Limited is an Indian public sector enterprise that provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation.)
- Founded: 1987
- Headquarters: Delhi
- Owner: Government of India (75%)
PNB (Punjab National Bank)
- PNB CEO: Atul Kumar Goel
- Punjab National Bank (abbreviated as PNB) is an Indian public sector bank based in New Delhi.
AWARD NEWS
Constable Shashikant Kumar was awarded Jeevan Raksha Padak by the President of India
- The President of India conferred the prestigious Jeevan Raksha Padak upon Constable Shashikant Kumar during the Republic Day 2024 ceremony.
- Jeevan Raksha Padak awards, part of the Ashoka Chakra series of Gallantry awards, established in 1961.
- Recognizes acts of humanity in saving lives during emergencies like drowning, accidents, fires, electrocution, etc.
- The award highlights Constable Kumar’s exemplary bravery and commitment to saving lives in challenging situations.
Ashoka chakra:
- Establishment: The Ashoka Chakra was established on January 4, 1952, by the President of India, Rajendra Prasad.
- Inspiration: The Ashoka Chakra is named after the famous Ashoka Chakra (wheel) from the Ashoka Pillar at Sarnath, which is also featured on the national flag of India.
- Criteria: It is awarded for courageous action or self-sacrifice away from the battlefield, often involving risk to life in attempting to save someone or protect public property. It can be awarded to civilians as well as military personnel.
Sports News
Indian Cricketer Shubman Gill Appointed as Punjab’s “State Icon” to Boost Voter Engagement
- Punjab Chief Electoral Officer’s office appoints cricketer Shubman Gill as the new “state icon” for Punjab ahead of Lok Sabha elections.
- Aimed at enhancing voter engagement, particularly among the youth and sports enthusiasts.
- Gill’s role includes active involvement in voter awareness campaigns to encourage participation, especially in historically low-turnout areas.
- Strategic move to leverage Gill’s popularity to resonate with diverse demographics and promote electoral participation.
Defence News
Defence Acquisition Council Approves Capital Acquisition Proposals Worth Rs 84,560 Crore
- Under the chairmanship of Union Minister Rajnath Singh, the Defence Acquisition Council (DAC) sanctioned Acceptance of Necessity (AoN) for various capital acquisition proposals.
- Approved AoN includes procurement of New Generation Anti-Tank Mines with seismic sensors and remote deactivation capabilities under the Buy (Indian-Indigenously Designed Developed and Manufactured) category to enhance safety features.
- The total worth of the approved proposals amounts to Rs 84,560 crore, signifying a significant investment in defense capabilities.
About Defence Acquisition Council (DAC): The DAC is the highest decision-making body in the MoD which decides on new policies and capital acquisitions for the Indian Defence services (Army, Navy, and Air Force) and the Indian Coast Guard.
- Chairman Union Minister of Defence (Rajnath Singh)
- Established in 2001
Scheme News
Karnataka CM Siddaramaiah Launches ‘Asha Kirana – Eye Care at Your Doorstep’ Scheme
- Scheme launched in Haveri to provide free eye care services to families across Karnataka.
- Initiative of the Department of Health and Family Welfare, Government of Karnataka, under the National Programme for Control of Blindness and Visual Impairment (NPCB&VI).
- Aims to enhance accessibility to eye care services and reduce visual impairment among the population.
Appointments News
Nawaf Salam Becomes President of the International Court of Justice (ICJ)
- Nawaf Salam was elected as President of ICJ in The Hague, succeeding US Judge Joan Donoghue.
- Salam is the first Lebanese and second Arab to hold the prestigious position, serving a three-year term.
- Significant milestone highlighting diversity and representation within the ICJ’s leadership.
International court of justice
- Establishment: The ICJ is the UN’s principal judicial organ, founded in 1945.
- Location: Based in The Hague, Netherlands, it resolves disputes between states and offers legal advice to UN bodies.
- Composition: Consists of 15 judges serving nine-year terms, elected by the UN General Assembly and Security Council.
- Jurisdiction: Covers territorial, maritime, sovereignty, human rights, and treaty disputes.
Important Days
World Day of Social Justice 2024: “Bridging Gaps, Building Alliances”
- Observed annually on February 20th to highlight the imperative to tackle global inequality, injustice, and social exclusion.
- Advocates for decent work and fair globalization as central to social justice efforts.
- The theme for 2024 emphasizes the importance of bridging divides and fostering alliances to address systemic inequalities.
- Aims to inspire collective action towards creating a more equitable and inclusive world.
