Current Affairs Jan 27, 2024
National news
- “63rd CGPB Meeting Highlights: GSI Unveils Robust 2024-25 Geological Program and Collaborative Initiatives”
- Shri V.L. Kantha Rao, Secretary of the Ministry of Mines, led the 63rd CGPB gathering in Bhopal.
- The proposed Annual Programme for 2024-25 by GSI featured 1055 scientific programs.
- Emphasis on collaboration with universities, agencies, and sponsorship from entities like IITs, NGRI, DRDO, NRSC-ISRO.
- Encouragement for Exploration projects through NMET funding for implementation by State Governments.
- ACME Group and IHI Corporation Seal Deal for Green Ammonia Supply from India to Japan
- ACME Group and Japan’s IHI Corporation sign a significant agreement for the supply of 0.4 MMTPA of green ammonia from Odisha, India, to Japan.
- The deal, witnessed by Union Minister R. K. Singh and Ambassador Hiroshi Suzuki, marks a strategic collaboration with applications in power generation and various industries in Japan.
- The term sheet outlines a comprehensive partnership along the green ammonia value chain, emphasizing India’s role as a major player in green hydrogen and ammonia production.
- Minister R. K. Singh underscores the global significance of the agreement, positioning India in the forefront of the green energy landscape.
International news
“Maersk Launches Ane Maersk: World’s Largest Green Methanol-Powered Container Vessel”
- Maersk introduces Ane Maersk, a groundbreaking container vessel powered by green methanol.
- The vessel is a major step toward sustainability, utilizing green hydrogen-derived methanol.
- Ane Maersk claims the title of the world’s largest container ship fueled by green methanol.
Economy news
- “Nirmala Sitharaman’s Historic Streak: Unveiling the Interim Budget 2024-25″**
- 1. Finance Minister Nirmala Sitharaman to present sixth consecutive Budget, including one interim Budget, on February 1, 2024.
- 2. The interim Budget is crucial for authorizing government expenditures until new administration post general elections in April-May.
- 3. Sitharaman follows in the footsteps of Prime Minister Morarji Desai, who presented a record 10 Budgets, including six consecutively.
- 4. The presentation marks a significant moment in fiscal policy history, showcasing continuity and economic strategy.
- Union Cabinet Approves Rs 8,500 Crore VGF Scheme for Coal Gasification Projects
- he Union Cabinet approves a groundbreaking Viability Gap Funding (VGF) scheme on January 24, 2024, allocating Rs 8,500 crores for Coal Gasification Projects.
- The initiative aligns with the government’s ambitious mission to gasify 100 million tonnes of coal by 2030.
- The VGF scheme, strategically structured, allocates funds into three categories, with government-owned companies leading three key projects set to receive a substantial grant of Rs 4,050 crores.
Banking news
1)Zomato’s Subsidiary Secures RBI Approval as Payment Aggregator
- Zomato Payments Private Limited obtains payment aggregator (PA) license from the Reserve Bank of India (RBI) on January 24, 2024.
- Approval allows Zomato Payments to facilitate ecommerce transactions through its platform.
- The subsidiary, incorporated on August 4, 2021, aimed to function as a payment aggregator and issuer of pre-paid instruments.
- Zomato collaborated with ICICI Bank to introduce Zomato Pay, a Unified Payments Interface (UPI) offering, to reduce dependency on platforms like Google Pay, PhonePe, and Paytm.
2) ICRA Revises FY24 Bank Credit Growth Estimate Upwards to 14.9-15.3%
- ICRA revises bank credit growth estimate for FY24 to 14.9-15.3%, surpassing the earlier projection of 12.8-13.0%.
- The positive revision is attributed to robust performance in the retail segment and non-banking finance companies (NBFCs).
- Anil Gupta, Senior Vice President at ICRA, highlights the surge in incremental credit, expected to reach Rs 20.4-20.9 trillion, setting a record high in bank credit growth, surpassing the previous FY23 peak of Rs 18.2 trillion.
3) RBI Grants Approval to LIC for Up to 9.99% Stake in HDFC Bank
- The Reserve Bank of India (RBI) approves Life Insurance Corporation of India (LIC) to acquire up to 9.99% aggregate holding in HDFC Bank, the largest private sector bank in India.
- LIC is directed to complete the acquisition of the major shareholding in HDFC Bank by January 24, 2025.
- RBI mandates that LIC ensures its aggregate holding in HDFC Bank does not exceed 9.99% of the paid-up share capital or voting rights at any given time.
Important dates
- International Day of Clean Energy: Advocating Sustainable Futures on January 26
- January 26 marks the International Day of Clean Energy, emphasizing the significance of renewable energy for a sustainable and environmentally friendly future.
- The day underscores the crucial role clean energy plays in addressing climate change, lowering carbon emissions, and securing a healthier planet for future generations.
- International Customs Day Celebrated Globally on January 26
- January 26 annually marks International Customs Day, dedicated to acknowledging the pivotal role of customs agencies worldwide.
- Incepted in 1953 by the Customs Cooperation Council (CCC), now known as the World Customs Organization (WCO), the day honors the work of customs officials, with its renaming in 1994.
- The WCO, currently comprising 182 member states, promotes international cooperation in customs matters, fostering collaboration among nations.
- National Geographic Day 2024: Honoring the Legacy of Exploration on January 27
- National Geographic Day is celebrated annually on January 27, paying tribute to the rich history and contributions of the National Geographic Society in geography, natural science, and exploration.
- Founded on January 27, 1888, the National Geographic Society has a mission to increase and diffuse geographic knowledge, evolving into one of the world’s largest nonprofit scientific and educational organizations.
- The day serves as a special occasion to recognize the society’s enduring impact on the understanding of our world through exploration and scientific endeavors.
Scheme news
REC Ltd Named Nodal Agency for Pradhan Mantri Suryoday Yojana
- REC Ltd, a Maharatna power finance company, appointed as the nodal agency for Pradhan Mantri Suryoday Yojana.
- Prime Minister Narendra Modi announced the initiative on January 22, aiming to install rooftop solar panels in one crore households.
- The ambitious scheme targets the installation of rooftop solar in one crore households within a year, contributing to the broader goal of achieving 40 GW of rooftop solar installations by 2026.
- The Ministry of New and Renewable Energy (MNRE) designates REC as the overall program implementation agency, highlighting its crucial role in driving the rooftop solar scheme.
Sports news
Rohan Bopanna, 43, Makes History as Oldest Men’s Doubles No. 1 in Tennis
- Indian tennis star Rohan Bopanna, aged 43, achieves a historic milestone by becoming the oldest player to claim the No. 1 spot in the men’s doubles rankings.
- Bopanna’s landmark accomplishment follows his quarter-final victory at the 2024 Australian Open, partnering with Australia’s Matthew Ebden.
- He surpasses the previous record held by American player Mike Bryan, who became World No. 1 in men’s doubles at the age of 41 years and 76 days in 2019.
