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Daily Current Affairs 16th February 2024 Daily GK Update
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National News
PM Modi inaugurates grand BAPS Hindu temple in Abu Dhabi
- Prime Minister Narendra Modi has inaugurated Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) Hindu Mandir in Abu Dhabi, the first Hindu temple in the United Arab Emirates.
- The BAPS temple will be an enduring tribute to the values of harmony, peace and tolerance, which both India and the UAE share.
- The pink sandstone temple sits on a 27-acre plot in Abu Dhabi, making it one of the largest in the Middle East. While Islam is the official religion of the UAE, the country is home to about 3.6 million Indian workers.
About United Arab Emirates (UAE)
- Capital – Abu Dhabi
- Currency – Dirham
- President – Mohamed bin Zayed Al Nahyan
- Prime Minister – Mohammed bin Rashid Al Maktoum
- Official language -Arabic
AFMS & IIT Roorkee join hands to foster research
- Armed Forces Medical Service has signed an MoU with the Indian Institute of Technology Roorkee.
- The MoU aims towards promoting collaborative biomedical research, to aid in improving the combat medical support and patient care of serving personnel.
- Under this MoU, Armed Forces Medical Services will be able to utilize the expertise of IIT Roorkee in various fields like, development of novel medical devices, robotics, nanotechnology, artificial intelligence and machine learning.
- Apart from research, faculty exchange programme, joint academic activities and promotion of start-ups in the domain of health care.
IITs in News
- IIT Kanpur develops India’s first hypervelocity expansion tunnel test facility
- IIT Madras to open new campus at Kandy in Sri Lanka
- ArcelorMittal partners with IIT Madras to create Hyperloop facility in Tamil Nadu
- Reliance Jio joins hands with IIT Bombay to launch Bharat GPT
- IIT Guwahati collaborated with Assam govt’s Arohan Scheme over STEM
Supreme Court declares electoral bonds scheme unconstitutional
- The Supreme Court has declared the electoral bonds scheme as “unconstitutional,” stating that anonymous corporate contributions to political parties are “violative of the right to information.”
- The decision was announced by a bench led by Chief Justice of India DY Chandrachud.
- The verdict underscores the importance of transparency in political funding and upholding the right to information. It also reflects the judiciary’s commitment to safeguarding the principles of democracy.
Key Observations and Directions from the Bench:
- The Supreme Court has found the Electoral Bonds Scheme, along with certain provisions of the Income Tax Act and Finance Act 2015, to be violative of Article 19(1)(a) of the Constitution.
- The issuing bank, State Bank of India (SBI), has been directed to cease issuing electoral bonds immediately.
- SBI is required to provide details of the political parties that have received electoral bonds, including particulars such as purchase dates, purchaser names, and bond denominations, to the Election Commission (EC) by March 6.
- Additionally, SBI must disclose details of each encashed bond.
- The EC has been instructed to publish the information received from SBI on its official website by March 13.
- Electoral bonds that remain encashed by political parties are to be returned and refunded to the purchasers.
What is Electoral Bonds?
- Electoral bonds are bearer instruments that function as interest-free banking instruments and promissory notes.
- They can be purchased by Indian citizens or Indian-incorporated bodies in denominations of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000, and Rs 1,00,00,000 from specified SBI branches.
- These bonds are available for purchase for a limited period in January, April, July, and October, with an additional 30-day period specified by the Central Government in the year of the General election to the House of People.
- The Electoral Bonds Scheme was introduced in 2017 through a Finance bill and implemented in 2018
MeitY to hold first-ever Future Skills Summit in Guwahati
- The Ministry of Electronics and Information Technology (MeitY) in collaboration with the National Institute of Electronics and IT (NIELIT) will host the Future Skills Summit in Guwahati.
- The event will be inaugurated by Union Minister of State for Electronics and IT, Rajeev Chandrasekhar.
- The Summit aims to bring together young Indians, thought leaders, industry experts, policymakers, educators, and technology enthusiasts to discuss strategies for catalyzing future-ready talent for India and the world.
- The Summit will focus on the impact of rapid digitization globally, emphasizing new opportunities for young Indians in cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), Semiconductors, Robotics, and Cybersecurity. These advancements offer significant prospects for the country’s youth.
16th conference of World Social Forum 2024 commences in Kathmandu
- The 16th conference of the World Social Forum (WSF) 2024 commenced in
- The five-day WSF 2024 under the “Another World is Possible” banner aims to open horizontal exchange among civil society organizations, social movements, trade unions and individuals opposing neoliberal globalization.
- The participants of the march carried banners and placards with slogans in support of justice, peace, equality and an end to discrimination.
- Various national and international organizations related to different sectors and rights expressed their solidarity in the march.
- Some forty thousand people from 92 countries are expected to participate in the WSF.
Banking and Financial
PayU, NPCI join hands to roll out Credit Lines on UPI’ feature
- Payments solution provider, PayU has collaboration with National Payments Corporation of India (NPCI) for rolling out of the ‘Credit Lines on UPI’ feature on its platform, which will create avenues of financial security and growth for the merchants.
- The company anticipates over 380 million UPI users to gain easier access to Credit Line.
- The enablement of pre-sanctioned Credit Lines by banks through UPI will empower businesses and consumers alike, fostering India’s financial inclusion agenda.
- As part of integration, PayU will share information about the relevant identifiers related to the type of credit the consumer has undertaken, such as pay-later, personal loans, etc.
Recent MoUs Signed in Banking Sector
- SBI partners with Flywire to modernise international education payments for students
- ESAF Small Finance Bank and Edelweiss Tokio Life Insurance Partner to Offer Life Insurance
- IREDA and Indian Overseas Bank ink pact to co-finance renewable energy projects
- Rural Development Ministry signs pact with SBI to facilitate loans for SHGs
- REC Limited and Bank of Baroda join hands to finance Power, Infra, and Logistics Projects
Appointment
Sanjay Kumar Jain appoints as CMD of IRCTC
- Railway PSU IRCTC (Indian Railways Catering and Tourism Corporation Ltd) has appointed Sanjay Kumar Jain as its Chairman and Managing Director with immediate effect.
- Prior to this role, Jain was Principal Chief Commercial Manager (PCCM) of Northern Railway, Indian Railway Catering and Tourism Corporation Ltd (IRCTC).
- Jain is an Indian Railway Traffic Services (IRTS) Officer of 1990 batch.
- A qualified Chartered Accountant (CA), Jain has been at leadership roles in policy making, commercial ventures and developmental ventures of the Government of India and PSUs.
Recent Appointment
- President of Institute of Chartered Accountants of India (ICAI) – Ranjeet Kumar Agarwal (72nd)
- Vice President of Institute of Chartered Accountants of India (ICAI) – Charanjot Singh Nanda
- First Transwoman TTE of Southern Railway – Sindhu Ganapathy’s
- Department of Health & Family Welfare Secretary – Apurva Chandra
- Information and Broadcasting Secretary – Sanjay Jaju
Virendra Bansal appointed new MD & CEO of SBI Capital Markets
- SBI Capital Markets (SBICAPS), a wholly owned subsidiary and investment banking arm of the State Bank of India has appointed Virendra Bansal as its Managing Director and Chief Executive Officer.
- He replaces Rajay Kumar Sinha, who has been appointed as the Whole Time Member (Finance and Investment) of the Insurance Regulatory and Development Authority of India (IRDAI) for a period of three years.
- Prior to this appointment, Bansal was Country Head for the US Operations of SBI, which included its offices in New York, Chicago, Los Angeles, and Sao Paulo.
Recent Appointment in Banking & Insurance Sector
- President of Institute of Chartered Accountants of India (ICAI) – Ranjeet Kumar Agarwal (72nd)
- Vice President of Institute of Chartered Accountants of India (ICAI) – Charanjot Singh Nanda
- CEO of Sundaram Asset Management Company – Anand Radhakrishnan (replace Sunil Subramaniam)
- MD & CEO of LIC Mutual Fund – Ravi Kumar Jha
- Non-executive Chairman of NPCI Board – Ajay Kumar Choudhary (replace Biswamohan Mahapatra)
Axis Bank appoints Pranam Wahi as Additional Director
- The Board of Directors of Axis Bank has appointed Pranam Wahi as an additional independent director of the bank for four years.
- This appointment is subject to approval of shareholders.
- A Chartered Accountant by qualification, Wahi has over 40 years of banking experience across various countries, including India, the United Arab Emirates / GCC, Indonesia, and Singapore, per the Bank’s regulatory filing.
- Wahi began his career with HSBC in 1982 where he was part of various functions and corporate banking within the HSBC Group in India.
- Wahi subsequently joined DBS as CEO India in April 2004. His last position was Managing Director, Senior Risk Executive, DBS Indonesia, before retiring in 2023.
About Axis Bank
- Founded – 1993
- Headquarters – Mumbai, Maharashtra
- Chairman – Rakesh Makhija
- MD & CEO – Amitabh Chaudhary
- Tagline – Badhti Ka naam Zindagi
Nikhil Joshi appointed as MD of Boeing Defence India
- US aerospace major Boeing has appointed Nikhil Joshi as managing director of Boeing Defence India (BDI).
- Based in New Delhi, Joshi will lead current and future programmes for BDI to enhance the mission readiness and modernisation of India’s defence forces.
- Joshi has more than 25 years of aerospace and defence industry experience, including over two decades of service with the Indian armed forces in the aviation branch of the Indian Navy.
Recent Appointment
- President of Institute of Chartered Accountants of India (ICAI) – Ranjeet Kumar Agarwal (72nd)
- Vice President of Institute of Chartered Accountants of India (ICAI) – Charanjot Singh Nanda
- First Transwoman TTE of Southern Railway – Sindhu Ganapathy’s
- Department of Health & Family Welfare Secretary – Apurva Chandra
Awards
City Union Bank wins IBA’s banking technology awards
- Old private sector lender City Union Bank (CUB) has won seven awards in various categories in the ‘19th Banking Technology Conference, Expo & Citations 2023’ by the Indian Banks Association (IBA) in Mumbai.
- The awards aim at recognising the best technology providers in the banking industry and instill competition to demonstrate their state-of-the-art innovative products, and sense of purpose and bring huge value addition in Best Practices for serving the bank’s clientele.
- Along with his technology team, N Kamakodi, MD & CEO of City Union Bank received the awards from RBI’s Deputy Governor T Rabi Sankar.
About City Union Bank
- Founded- 1904
- Founders- Santhanam Iyer; S. Krishna Iyer; V. Krishnaswami Iyengar
- Headquarters- Kumbakonam, Tamil Nadu
- CEO- Dr. N. Kamakodi
Defence
MoD signs contract with AWEIL for 463 Stabilised Remote-Control Guns for Indian Navy & Indian Coast Guard
- The Ministry of Defence has signed a contract with Advanced Weapon Equipment India Ltd (AWEIL), Kanpur for the manufacturing & supply of a total of 463 indigenously manufactured 12.7 mm Stabilised Remote-Control Guns (SRCG) for the Indian Navy & Indian Coast Guard at a total cost of Rs. 1752.13 crores.
- The SRCG will enhance the capability of Navy and Coast Guard to accurately engage small targets that post a threat to ships in an asymmetric environment, both by day and night.
- This acquisition will provide further boost to the vision of “Aatmanirbharta in Defence”.
- This contract will also open up a large avenue in defence manufacturing for over 125 Indian Vendors.
Sports
Anurag Thakur hands over Chess Olympiad Torch to Hungary
- Union Minister for Youth Affairs and Sports, Anurag Singh Thakur handed over the Chess Olympiad Torch to Budapest, Hungary.
- Hungary to host the 45th edition of the Chess Olympiad.
- The transfer of the torch took place at the Major Dhyanchand National Stadium in New Delhi.
- The 44th edition of the Chess Olympiad held in Chennai in 2022 witnessed the participation of over 2500 players and 7000 participants globally.
Indian hammer thrower Rachna Kumari banned for 12 years for doping
- The Athletics Integrity Unit (AIU) has suspended hammer thrower Rachna Kumari for 12 years for a second anti-doping rule violation.
- Rachna returned positive results for multiple anabolic androgenic steroids in samples collected out of competition at Patiala on September 24 and on November 1 at the National Games last year.
- Rachna had earlier served a four-year suspension from 2015 to 2019. Her current suspension began on November 24.
Important day
15 February 2024 – World Anthropology Day
- World Anthropology Day is observed every year on the third Thursday in February and this year it is being marked on February 15.
- To promote the field of anthropology and raise awareness about its significance in understanding human diversity, cultures and societies worldwide.
- Anthropology Day was established by the American Anthropological Association (AAA) in 2015 and initially called National Anthropology Day.
- It was changed in 2016 to World Anthropology Day as it seemed more appropriate since anthropology is essential to the whole world and not just one nation and the day was a part of AAA’s larger efforts to promote the discipline and its contributions to society.
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