Current Affairs Feb 7, 2024

Current Affairs Feb 7, 2024

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Current Affairs Feb 7, 2024

National news

Bharathy Rang Mahotsav: Grand Opening in Gujarat’s Kachchh District

  • The prestigious Bharat Rang Mahotsav, India’s leading theatre festival, commenced its celebrations in the culturally rich Kachchh district of Gujarat.
  • The festival debuted with a spellbinding performance of ‘Uttararamacharitam,’ a classic masterpiece by Bhavabhuti, directed by Dr. Chavan Pramod R. from Maharaja Sayajirao University of Baroda, highlighting the exceptional talents of NSD students.
  • The festivities continued with ‘Golden Jubilee’ by the Jubilee Theatre Company at the iconic Town Hall in Nagar Palika, directed by Saurabh Nayyar, promising an immersive experience with its artistic depth.

“Inauguration of Bapu Tower in Patna, Bihar”

Important Points:

  • The Bapu Tower, located in Gardanibagh, Patna, Bihar, serves as a monumental tribute to Mahatma Gandhi, honoring his enduring legacy and ideals.
  • Standing at a height of 120 feet and comprising six stories, the tower symbolizes the vision and commitment of Chief Minister Nitish Kumar, who envisioned it as a dream project.
  • The inauguration of the Bapu Tower marks a significant milestone in the architectural landscape of Patna, adding a new landmark that reflects the values of peace, non-violence, and social justice espoused by Mahatma Gandhi.
  • The tower is expected to become a popular tourist attraction and a symbol of pride for the people of Bihar, showcasing the state’s rich cultural heritage and commitment to honoring its historical figures.

“Prime Minister Narendra Modi to Address World Government Summit in Dubai”

  • Indian Prime Minister Narendra Modi is scheduled to address the prestigious World Government Summit (WGS) in Dubai on February 14, marking his second invitation to the summit.
  • The WGS, held annually in Dubai since 2013, serves as a global platform bringing together world leaders, policymakers, and experts to discuss and address pressing global challenges.
  • Modi’s participation underscores India’s engagement with the international community and its commitment to collaborative efforts in finding solutions to global issues.
  • The summit provides an opportunity for leaders to exchange ideas, share best practices, and explore innovative approaches to governance, sustainability, technology, and other critical areas.
  • Modi’s address at the WGS is expected to focus on India’s vision for inclusive growth, development, and cooperation on the global stage.

Banking news

Federal Bank Introduces NCMC Integrated Debit Cards for Seamless Travel: Key Details

  • Federal Bank becomes one of the earliest private sector banks to launch NCMC integrated Debit cards, offering enhanced convenience for travel payments.
  • NCMC feature on RuPay Contactless Debit Cards facilitates quick, offline payments at NCMC enabled terminals in metro stations, buses, etc., by simply tapping the card.
  • Activation of NCMC functionality requires enabling the “contactless feature” through Mobile banking, Internet banking, or IVR, followed by activation and money loading at the metro station customer care desk.
  • Money can be loaded onto the card via cash or existing savings account at the metro counter, allowing users to tap and travel seamlessly without purchasing a separate ticket.

Award news

REC Limited Honored with Best Green Bond – Corporate Award for Groundbreaking $750 Million USD Green Bond Issuance

  • REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power, has been recognized with the esteemed Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.
  • The award acknowledges REC’s issuance of $750 million USD Green Bonds in April 2023, marking India’s first USD Green Bond issuance post its assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer.
  • The bond issue, priced at a minimum new issue premium of 7.5 bps, surpassed previous high-rated issuances from the region, underscoring investor confidence and REC’s commitment to financing climate change mitigation projects and environmental sustainability initiatives.

“PT Usha Honored with Lifetime Achievement Award”

Important Points:

  1. Legendary sprinter and President of the Indian Olympic Association (IOA), PT Usha, was awarded the prestigious ‘Lifetime Achievement’ award by the Sports Journalists Federation of India (SJFI) and Delhi Sports Journalists Association (DSJA).
  2. The accolade recognizes Usha’s extraordinary contributions to Indian athletics and her stellar sporting career.
  3. Often referred to as the “Queen of Indian track and field,” PT Usha was presented with a medallion, citation, and memento, highlighting her esteemed status in the sporting community.
  4. The event celebrated Usha’s achievements and underscored the enduring legacy she has built, serving as an inspiration to athletes across the nation.

International news

France Introduces Digital Schengen Visas for Paris Olympics: Key Points

  • France pioneers digital Schengen visas for the Paris Olympics, marking a significant shift towards online visa procedures.
  • Plans include transitioning all 70,000 French Schengen visas to digital formats, in line with the EU’s digitalization initiatives.
  • The “Olympic Consulate” system commenced operations on January 1, 2024, exclusively handling visa applications for the 2024 Olympic and Paralympic Games.

Economy news

CRISIL Report: Indian Economy’s Growth Trajectory and Capital Investment”

Important Points:

  • CRISIL’s report titled “Indian Economy: Capital as Growth Driver” forecasts an average annual growth rate of 6.7% for the Indian economy between fiscal years 2024 and 2031.
  • This projected growth rate is slightly higher than the pre-pandemic decadal average of 6.6%, indicating a resilient recovery post-pandemic.
  • Capital investment emerges as a key contributor to this growth trajectory, driven by the government’s investment-focused strategy in the aftermath of the pandemic.
  • The report highlights the importance of sustained capital investment in bolstering economic growth and fostering recovery from the pandemic-induced slowdown.
  • It underscores the need for continued policy support and reforms to encourage private sector participation in capital investment, thereby stimulating economic activity and job creation.
  • The report emphasizes the significance of infrastructure development, innovation, and technological advancement as catalysts for long-term sustainable growth in the Indian economy.

Science and tech

“Successful Launch of Nine Satellites by China’s Smart Dragon-3 Rocket”

Important Points:

  • The China Aerospace Science and Technology Corporation’s (CASC) Smart Dragon-3 rocket successfully deployed nine satellites into the Sun-Synchronous Orbit (SSO).
  • The launch took place off the coast of Yangjiang in southern Guangdong province, China, and was coordinated by the Taiyuan Satellite Launch Center.
  • This mission marks the third successful launch for the Smart Dragon-3 launch vehicle, demonstrating its reliability and capability in deploying satellites into precise orbits.
  • The satellites deployed serve various purposes, including Earth observation, scientific research, and commercial applications, contributing to China’s space exploration and technological advancements.
  • The successful deployment of these satellites further enhances China’s capabilities in space technology and satellite deployment, consolidating its position as a major player in the global space industry.

“Microsoft CEO Satya Nadella Announces AI Training Initiative in India”

Important Points:

  1. Satya Nadella, Chairman and CEO of Microsoft, announced a plan to train over 2 million people in generative Artificial Intelligence (AI) skills in India by 2025.
  2. At an event in Mumbai, Nadella emphasized the importance of cooperation between the United States and India in the field of AI.
  3. Nadella highlighted the potential of AI to boost GDP growth in India and referred to India as one of the highest-growth markets.
  4. He underscored AI as a powerful technology that needs to be widely diffused to every corner of the world for its benefits to be realized.
  5. Microsoft’s initiative aims to equip individuals in India with AI skills, fostering innovation, entrepreneurship, and economic development in the country.

Defence

“Commissioning of INS Sandhayak: India’s New Survey Vessel Large (SVL) Ship”

Important Points:

  • The Indian Navy (IN) commissioned INS Sandhayak, the first of four Survey Vessel Large (SVL) ships, on February 3, 2024, at Naval Dockyard, Visakhapatnam, Andhra Pradesh.
  • The commissioning ceremony was attended by Union Minister of Defence Rajnath Singh and Indian Navy Chief Admiral R. Hari Kumar, signifying the significance of the event.
  • INS Sandhayak (Yard 3025) is part of a contract between the Ministry of Defence (MoD) and Garden Reach Shipbuilders & Engineers Limited (GRSE) for the construction of four SVL ships.
  • These SVL ships will enhance the Indian Navy’s capabilities in hydrographic surveying, oceanographic research, and maritime exploration, supporting national security and maritime interests.
  • The commissioning of INS Sandhayak underscores India’s commitment to bolstering its naval fleet and strengthening maritime infrastructure and surveillance capabilities.

Books and author

Unveiling of ‘Artificial Intelligence and National Security’ Book by CDS General Anil Chauhan”

Important Points:

  • Chief of Defence Staff General Anil Chauhan unveiled the book titled ‘Artificial Intelligence and National Security’ at the Defence Literature Festival, “Kalam and Kavach,” held in Pune, Maharashtra.
  • The book, authored by Amit Sinha and Vijay Khare and published by Pentagon Press, delves into the application of Artificial Intelligence (AI) in national security.
  • It provides insights into India’s AI development in comparison with global powers and examines various government initiatives in this domain.

Jagdeep Dhankhar, Vice President (VP) of India, released the book titled “Transforming HARYANA: 9 Incredible Years of Haryana Government” edited by Kuldip Chand Agnihotri, Former Vice-Chancellor, Central University of Himachal Pradesh, Dharamshala,

Sports news

Real Madrid’s Vinicius Jr Named UNESCO Goodwill Ambassador for Education for All Initiative

  • Vinicius Jr, the Brazilian football sensation of Real Madrid, has been appointed as a goodwill ambassador for UNESCO’s Education for All initiative.
  • The appointment ceremony took place at Real Madrid’s training center, marking Vinicius Jr as the second Brazilian footballer, following Pele, to serve as a UNESCO goodwill ambassador.
  • UNESCO Director-General Audrey Azoulay praised Vinicius Jr’s commitment to promoting equal educational opportunities in Brazil, highlighting his efforts beyond football in advocating for education.

Appointment news

Yemen’s Presidential Leadership Council, in a significant move, appointed Foreign Minister Ahmed Awad bin Mubarak as the country’s new Prime Minister.

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