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Daily Current Affairs 16th January 2024 Daily GK Update
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National News
South Korean firm Simmtech signs MoU for creating semiconductor ecosystem in Gujarat
- After US chipmaker Micron and Tata group, South Korean firm Simmtech has signed an MoU with the Gujarat government to set up its plant in Sanand at a cost of Rs1,250 crore as part of creating a semiconductor ecosystem in the state.
- South Korean firm has been allotted 30 acres of land and the work will start in the next two-three months. The company will need 6-7 months to set up the plants.
- Simmtech is the world’s biggest manufacturer of semiconductor substrates.
- The company has been given subsidy under SPECS (Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) by the centre as well as state government.
Recent MoU
- TGL and Flipkart sign MoU for supply chain decarbonization
- Bharat Electronics Secures ₹445 Cr Deal for UP Dial 112 Project
- Ministry of Rural Development signed with JioMart to Self-Help Groups’ Products
- Tata Power ties up with Indian Oil to set up over 500 EV charging stations
- RITES signed pact with CFM Mozambique for 10 diesel locomotive supply
Maharashtra’s Pench Tiger Reserve becomes India’s First Dark Sky Park
- The Pench Tiger Reserve (PTR) in Maharashtra has been marked as India’s first Dark Sky Park and the fifth such park in Asia.
- This prestigious acknowledgment underscores the reserve’s unwavering commitment to protecting the sanctity of the night sky and creating an optimal setting for astronomy enthusiasts.
- The International Union for Conservation of Nature (IUCN) emphasizes on the recognition of the intrinsic value of the night sky as a natural, cultural, and historical resource.
- The IUCN also highlights the need to preserve natural darkness for the sake of nature conservation, ecological integrity in protected areas, and the well-being of communities in healthy cities.
About Pench Tiger Reserve
- Pench Tiger Reserve or Pench National Park is one of the premier tiger reserves of India and the first one to straddle across two states – Madhya Pradesh and Maharashtra.
- The fictional works of Rudyard Kipling, The Jungle Book and The Second Jungle Book, are set in the region. Kipling himself never visited the area, instead basing his descriptions on other locations in India.
What is a Dark Sky Park?
- A dark-sky preserve is an area, usually surrounding a park or observatory, that restricts artificial light pollution. The purpose of the dark-sky movement is generally to promote astronomy.
- The Indian Astronomical Observatory (IAO), a high-altitude astronomy station located in Hanle, and operated by the Indian Institute of Astrophysics, is India’s first dark-sky preserve.
- Situated in the Western Himalayas at an elevation of 4,500 meters (14,764 ft), the IAO is one of the world’s highest-located sites for optical, infrared, and gamma-ray telescopes.
PM Modi Releases First Instalment of PM-JANMAN Scheme for Pucca Homes
- Prime Minister Narendra Modi has released ₹540 crore — the first installment of funding — for pucca homes under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) to one lakh Particularly Vulnerable Tribal Group (PVTG) beneficiary families as part of the recently-launched PM-JANMAN package for the overall development of PVTG habitations.
- Simultaneously, in 100 districts, officials of both the Centre and the respective State governments will distribute benefits under the package to Gram Panchayats and village chiefs.
- In the two months since the Prime Minister launched the scheme on November 15, the government had sanctioned projects worth over ₹4,700 crore through nine Ministries under the PM-JANMAN package, which includes the first installment for PMAY(G) homes for one lakh beneficiaries.
About Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN)
- PM-JANMAN was launched for the socio-economic welfare of Particularly Vulnerable Tribal Groups (PVTGs) on November 15, 2023 on the occasion of Janjatiya Gaurav Diwas.
- PM-JANMAN, with a budget of approximately ₹24,000 crore, focuses on 11 critical interventions through nine ministries.
- It is aimed at improving the socio-economic conditions of PVTGs by saturating PVTG households and habitations with basic facilities such as safe housing, clean drinking water and sanitation, improved access to education, health and nutrition, electricity, road and telecom connectivity, and sustainable livelihood opportunities.
Defense Minister Sanctions Insurance Scheme for BRO Workers
- India’s Defence Minister, Rajnath Singh has approved a proposal to provide insurance cover to casual workers employed by the Border Roads Organisation (BRO) to build infrastructure in remote areas.
- The scheme will provide INR 10 lakh ($13,500) to the families of casual-paid labourers in the event of death.
- The insurance scheme will serve as a social security and welfare measure and will go a long way in securing the livelihoods of their families.
- BRO employs up to one lakh casual workers for infrastructure projects in border areas.
- BRO has completed around 300 crucial projects during the last three years at a cost of ₹8,000 crore.
Maiden National Highway steel slag road on NH-66 Mumbai-Goa inaugurated
- V.K. Saraswat has inaugurated the first National Highway Steel Slag Road section on NH-66 Mumbai-Goa.
- Developed by CSIR-CRRI, converts steel industry waste into a resource, contributing to the construction of robust and eco-friendly national highways.
- This innovation aligns with the National Highways Authority of India’s (NHAI) efforts to enhance infrastructure sustainability in the country.
- Under the technological guidance of CSIR-CRRI, JSW Steel has successfully constructed a 1 km long four-lane steel slag road section on the Indapur-Panvel Section of NH-66 Mumbai-Goa.
- The construction process involved converting approximately 80,000 tons of CONARC Steel slag into processed steel slag aggregates at the JSW Steel Dolvi plant in Raigad.
- These processed steel slag aggregates exhibit superior mechanical properties compared to natural aggregates and have been used in all layers of the road, replacing traditional natural aggregates.
- The road includes bituminous and cement concrete steel slag sections on both the right-hand and left-hand carriageways.
MP govt declares January 22 as dry day to mark consecration of Ram temple in Ayodhya
- Madhya Pradesh government has declared January 22 as a dry day, when liquor shops will remain closed to mark the consecration of Lord Ram’s temple in Ayodhya.
- Chief Minister Mohan Yadav said that keeping in view the public sentiments, the state government has decided that all types of shops including liquor and Bhang outlets will remain closed on the 22nd of this month.
- Meanwhile, states including Uttar Pradesh, Chhattisgarh, Uttarakhand, and Assam have already declared January 22 a ‘dry day’ given the Pran Pratishtha ceremony.
About Madhya Pradesh
- Capital – Bhopal
- Chief Minister – Dr Mohan Yadav (replace Shivraj Singh Chauhan)
- Deputy CM – Jagdish Devda & Rajendra Shukla
- Speaker of Madhya Pradesh Assembly – Narendra Singh Tomar
- Governor – Mangubhai C. Patel
Banking and Financial
RBI imposes fine on Dhanlaxmi Bank, ESAF Small Finance Bank, Punjab and Sind Bank over non-compliances
- The Reserve Bank has imposed penalties totalling ₹2.49 crore on three banks, including Dhanlaxmi Bank and Punjab and Sind Bank, for contravention of regulatory norms.
- A penalty of ₹1.20 crore has been slapped on Dhanlaxmi Bank for non-compliance with certain directions on ‘Loans and Advances — Statutory and Other Restrictions’, KYC, and certain norms related to interest rate on deposits.
- Further, a fine of ₹1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on ‘Loans and Advances — Statutory and Other Restrictions.
- The central bank has also imposed a penalty of ₹29.55 lakh on ESAF Small Finance Bank for non-compliance with the directions issued by it on ‘Customer Service in Banks’.
- The penalties are based on deficiencies in regulatory compliance and are not intended to pronounce upon the validity of any transaction or agreement entered into by the lenders with their customers.
DLabs at ISB launches `Build for Billions’ jointly with RBI Innovation Hub, Union Bank of India
- Hyderabad DLabs at the Indian School of Business (ISB) has launched ‘Build for Billions’, a startup accelerator programme, themed around financial inclusion for the informal economy, in partnership with Reserve Bank Innovation Hub (RBIH) and Union Bank of India.
- Gig workers, migrant workers, domestic workers, street vendors, carpenters, plumbers, electricians, and construction labourers — representing the informal economy — face multifaceted challenges.
- These include low and volatile income; irregular income streams; limited access to credit and savings; and a lack of social security nets. Recognising these hurdles, Build for Billions is poised to support visionary fintech startups dedicated to addressing these issues.
- The 50-day equity-free accelerator by the business incubator DLabs, offers comprehensive support, including mentorship, capacity building, resources, networking opportunities, the chance to pitch to banks and investors, and a unique piloting opportunity with Union Bank.
- The Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the Reserve Bank of India, focuses on promoting and facilitating an environment that accelerates innovation across the financial sector, while DLabs, a business incubator at the Indian School of Business (ISB), specialises in incubation, acceleration, and funding for startups.
- CEO of Reserve Bank Innovation Hub – Rajesh Bansal
- Executive Director of Union Bank of India – Nitesh Ranjan
Recent Facilities Launched in Banking & Insurance Sector
- SBI launched Green Rupee Term Deposit of 1,111 days, 1,777 days, and 2,222 days tenor for resident individuals, non-individuals, and NRI customers.
- Indian Bank launches ‘Indian Bank One Co-Branded Credit Card’
- IndusInd Bank lunched ‘Samman RuPay Credit Card’ exclusively for government employees.
- Canara Bank to launch Data Analytics center in Bengaluru from 1 April
- Bank of India introduced Super Special Fixed Deposit with interest rate of 7.50% per annum
Tata Consumer signs pacts to buy Capital Foods, Organic India
- Tata Consumer Products Ltd (TCPL) has signed definitive agreements to fully acquire Capital Foods, owner of Ching’s Secret and Smith & Jones, and Organic India, the Fabindia-backed organic teas and health products maker.
- TCPL will pay an enterprise value on a no cash-no debt basis of ₹5,100 crore for 100% stake in Capital Foods.
- TCPL will acquire 75% of Capital Foods upfront and the remaining 25% over the next three years.
Wholesale inflation rises to 0.73% in December
- The wholesale price index (WPI)-based inflation rose in December at 0.73% mainly due to a sharp rise in food prices.
- The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.26%.
- Positive rate of inflation in December 2023 is primarily due to the increase in prices of food articles, machinery & equipment, other manufacturing, other transport equipment and computer, electronics & optical products, etc.
- Food inflation rose to 9.38% in December from 8.18% in November 2023.
- Inflation in vegetables was 26.30%, while in pulses it was 19.60% in December. Retail or consumer price-based inflation (CPI) print for December rose to a 4-month high of 5.69%.
Recent WPI-based Wholesale inflation in India
- July 2023 – (-) 1.36%
- August 2023 – (-) 0.52%
- September 2023 – (-) 0.26%
- October 2023 – (-) 0.52%
- November 2023 – 26%
- December 2023 –73%
Sports
Australian cricketer Shaun Marsh announces retirement
- Australian cricketer Shaun Marsh has announced his retirement from professional cricket.
- With the Melbourne Renegades’ fixture against Sydney Thunder in the Big Bash League being his last assignment.
- Marsh also had a great stint with Australia across formats, scoring more than 5,200 runs and 13 centuries, while his last outing for the Kangaroos was against Sri Lanka at The Oval during the 2019 ODI World Cup.
Recently Retired Players
- David Warner – International ODI & Test – Australia
- Dean Elgar – International cricket – South Africa
- Asad Shafiq – All forms of cricket – Pakistan
- Gurkeerat Singh Mann – International Cricket – India
- Meg Lanning – International Cricket – Australia
- Sunil Narine – International cricket – West Indies
Rohit Sharma Become First Men’s Player To Play 150 T20Is
- India captain Rohit Sharma has become the first men’s player to play 150 T20Is.
- Rohit achieved this feat during the second T20I match against Afghanistan at the Holkar Cricket Stadium.
- Rohit returned to India’s T20I setup for the first time since the end of the ICC Men’s T20 World Cup 2022. He led his side to a 6-wicket victory over Afghanistan in the first T20I in Mohali.
- Rohit also secured another milestone by becoming the first player to win 100 T20Is.
- Stirling has played 134 matches in his career. His Ireland colleague, George Dockrell, is third on the list, having played 128 matches.
- Rohit is one of the top run scorers in the T20Is. He has scored 3853 runs in 149 games, with a strike rate of about 140. He has also scored four hundreds in T20Is, tying Glenn Maxwell and Suryakumar Yadav for the most.
Important day
15 January – Indian Army Day
- Indian Army Day is celebrated every year on 15 January. This year, we are celebrating 76th Army Day.
- This day is celebrated to commemorate the victory of the Indian Army over the British Army. On 15 January 1949, Field Marshal K.M. Cariappa became the first Commander-in-chief of the Indian Army and took over the authority from the British Commander-in-Chief General Francis Butcher.
- Theme 2024 – In Service of the Nation
- The Indian Army hold its 76th Army Day parade at the 11 Gorkha Rifles Regimental Centre in Lucknow — the headquarters of the Army’s Central Command.
16 January – National Startup Day
- In 2022, Indian Prime Minister Narendra Modi had officially declared 16 January as National Startup Day.
- Under the Startup India programme, startups in the country expanded from around 400 to 1.18 lakh.
- In 2024, Startup India recognized 10-18 January as Innovation Week 2024 with the theme, “Celebrating 8 Years of Innovation.”
- So far, the Indian government has given 2,977 income tax exemptions and provided 3,658 startups with funds under the SIDBI Fund of Funds scheme, established in 2016 with a corpus of ₹10,000 crore.
- The scheme also gives capital to Alternative Investment Funds (AIFs) registered with SEBI, also called daughter funds. These funds invest money in startups through equity and equity-linked instruments.
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