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Daily Current Affairs 1st and 2nd February 2025 Daily GK Update
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National News
Pramod Sawant inaugurates the Sci-FI Science Film Festival of India
- Goa Chief Minister Pramod Sawant has inaugurated the 10th Sci-FI Science Film Festival of India in Panaji.
- The annual Sci-FI Science Film Festival of India is organised by the Goa government every year to foster curiosity, scientific temperament, and enthusiasm amongst the students.
- The festival will inspire the youth of the state to pursue a career in science and play a crucial role in making India a developed country by 2047.
- The theme of the 10th Sci-FI Science Film Festival of India is the Green Revolution. It is a tribute to the father of the Indian Green Revolution Dr M S Swaminathan.
About Goa
- Formation – 30 May 1987
- Capital – Panaji
- Chief Minister – Pramod Sawant
- Governor – S. Sreedharan Pillai
KPI Green Energy signs ₹1,311 crore solar project deal with Coal India
- KPI Green Energy Limited has signed a agreement with Coal India Limited to develop a 300 MW AC grid-connected solar PV plant in Gujarat’s Khavda region.
- The project, valued at ₹1,311.40 crore, will be installed at GIPCL’s Solar Park and includes operation and maintenance services for five years.
- The project demonstrates the ongoing transition in India’s energy sector, with traditional fossil fuel companies like Coal India increasingly investing in renewable energy infrastructure.
Garuda Aerospace commits ₹100 crore for developing India’s first drone city in Andhra Pradesh
- Chennai-based Garuda Aerospace, a drone manufacturer, has announced an investment of ₹100 crore for the development of Andhra Pradesh as India’s first ‘Drone City’.
- The project aims to foster drone innovation, research, and development, transforming the nation into a global hub for drone technology.
- Founder & CEO of Garuda Aerospace – Agnishwar Jayaprakash
Govt forms GoM on financial viability of Discoms
- The Government of India has set up a Group of Ministers to address issues related to the viability of the electricity distribution utilities in the country. Union Minister of State for Power and New and Renewable Energy, Shripad Yesso Naik, is the Chairman of the Group of Ministers.
- The Group of Ministers will analyze and make recommendations to the government on the following issues –
- Analyze the debt of the Electricity distribution boards in key states of India.
- Identify parameters that need to be monitored to ensure borrowings by electricity distribution utilities are productive.
- Identify States that are in urgent need of liquidity support (cash) and suggest a fiscal discipline program to enable them to avoid a debt trap.
- Recommend guidelines for investment plans concerning capital expenditure targeted at overall improvement.
- Suggest measures for improvement in the overall health of the electricity distribution sector to attract further investment from private participants.
Banking and Financial
Govt unveils new Mutual Credit Guarantee Scheme to support MSME growth
- The Centre has approved the introduction of the Mutual Credit Guarantee Scheme for MSMEs (MCGS—MSME), which provides 60 percent guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for credit facilities up to Rs. 100 crore sanctioned to eligible MSMEs. This fulfils the budget announcement of 2024-25.
- MCGS-MSME is expected to facilitate the availability of credit for the purchase of Plant and Machinery/Equipment by MSMEs, giving a major boost to manufacturing and thereby to Make in India.
- MLIs include All Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies (NBFCs) and All India Financial institutions (AIFIs) that register with NCGTC under the scheme.
- Borrower should be an MSME with a valid Udyam Registration Number. The loan amount guaranteed shall not exceed Rs. 100 crore. Project costs could be higher. The minimum cost of equipment /machinery is 75 percent of the project cost. Loans up Rs. 50 crore under the scheme shall have a repayment period of up to 8 years with a moratorium period of up to 2 years, on principal instalments.
- For loans above Rs. 50 crore, a higher repayment schedule and moratorium period on principal instalments can be considered. An upfront (initial) contribution of 5 percent of the loan amount shall be deposited at the time of application for guarantee coverage; the annual guarantee fee on the loan under the scheme shall be Nil during the year of sanction. During the next 3 years, it shall be 1.5 percent per annum of loan outstanding as of March 31 of the previous year. Thereafter, the Annual Guarantee Fee shall be 1 percent p.a. of the loan outstanding as on March 31 of the previous year.
- The scheme will be applicable to all loans sanctioned under MCGS-MSME during the period of 4 years from the date of issue of operational guidelines of the scheme or till a cumulative guarantee of Rs. 7 lakh crore is issued, whichever is earlier.
IRDAI caps senior citizen health premium hike at 10% annually
- The Insurance Regulatory and Development Authority of India (Irdai) has stepped in to curb steep health insurance premium hikes.
- Insurers can no longer raise premiums for policyholders aged 60 and above by more than 10% per year without prior approval, which will ensure accessibility of health insurance to those who are the most vulnerable to medical inflation.
IBA honours Karnataka Bank with six awards for banking technology excellence
- Karnataka Bank has won awards in six categories at the ‘20th Annual Banking Technology Conference, Expo & Citations, 2024’, instituted by the Indian Banks’ Association, recently.
- The awards were: ‘Best Tech Talent and Organization’, ‘Best IT Risk Management’, ‘Best Technology Bank’, and ‘Best Fintech and DPI Adoption’ (all runner-ups); and ‘Best Digital Sales, Payments and Engagement’ and ‘Best AI and ML Adoption’ (special mention).
About Karnataka Bank
- Founded- 18 February 1924
- Headquarters– Mangalore, Karnataka
- MD & CEO – Srikrishnan Hari Hara Sarma
- Chairman – P Pradeep Kumar
- Tagline – Your Family Bank Across India
Appointment
Hisashi Takeuchi re-appointed as Maruti Suzuki’s MD and CEO
- Maruti Suzuki India has re-appointed of Hisashi Takeuchi as the company’s Managing Director (MD) and Chief Executive Officer (CEO).
- Takeuchi’s term has been extended for a period of three years from April 1, 2025 till March 31, 2028.
- Takeuchi took charge as Maruti Suzuki’s MD and CEO on April 1, 2022, after Kenichi Ayukawa completed his term on March 31, 2022.
- Maruti Suzuki’s Board has also recommended the re-appointment of Maheswar Sahu as an Independent Director for a further period of five years, from May 14, 2025, to May 13, 2030.
Justice Harsh Kumar to head Judicial Commission on Maha Kumbh Stampede
- The Uttar Pradesh government of Yogi Adityanath has set up a three-member judicial committee headed by retired judge of the Allahabad High Court Justice Harsh Kumar, to inquire into the stampede incident in Maha Kumbh at Prayagraj on 29 January 2025.
- The three-member Inquiry Committee consists of Justice (retd.) Harsh Kumar, former Director General of Police V K Gupta, and retired IAS officer D K Singh.
- The commission will examine the cause and circumstances that led to the stampede and will recommend measures to prevent such incidents in the future. The commission has to submit its report to the Uttar Pradesh government within one month.
- According to the Uttar Pradesh Government, 30 people were killed and 60 were injured in the pre-dawn stampede at the Sangam area of the Maha Kumbh as millions of people rushed to take a holy dip on the occasion of Mauni Amavasya (new moon day) on 29 January 2025.
Rajesh Nirwan appointed as Director General at BCAS
- The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Civil Aviation for the appointment of senior IPS Officer, Rajesh Nirwan as the Director General of the Bureau of Civil Aviation Security (BCAS) under the Ministry of Civil Aviation.
- Rajesh Nirwan, an Indian Police Service (IPS) officer of the Rajasthan cadre from the 1992 batch, brings extensive experience and expertise to his new role.
- BCAS, functioning under the Ministry of Civil Aviation, is responsible for ensuring the security of civil aviation operations across India. The Bureau plays a pivotal role in maintaining and upgrading aviation security standards in line with international protocols, safeguarding civil aviation operations from acts of unlawful interference.
Recent Appointments
- CEO of Vedanta Resources Ltd. – Deshnee Naidoo
- CEO of Reliance Power – Neeraj Parakh
- President of Institute of Company Secretaries of India (ICSI) for 2025 – Dhananjay Shukla as the
- Chairperson of the Executive Council of the Prime Ministers Museum and Library Society – Nripendra Mishra
- Secretary of the Department of Higher Education under the Ministry of Education – Vineet Joshi
Science
IAF’s Shubhanshu Shukla to Become First Indian Astronaut on Private Space Mission to ISS
- Indian Air Force Group Captain Shubhanshu Shukla will be the first Indian astronaut to travel to the International Space Station (ISS) on a private mission.
- Shukla will fly aboard a SpaceX Dragon spacecraft from the Kennedy Space Center, Florida, as part of the Axiom Mission 4 (Ax-4), a joint venture between NASA and ISRO.
- Born on October 10, 1985, in Lucknow, Uttar Pradesh, Shukla was commissioned into the Indian Air Force (IAF) Fighter Wing in 2006 and underwent astronaut training in Moscow in 2019.
- The Ax-4 mission will be commanded by former NASA astronaut Peggy Whitson. Shukla will serve as the mission pilot, alongside mission specialists Slawosz Uznanski-Wisniewski (Poland) and Tibor Kapu (Hungary).
- The crew will spend up to 14 days aboard the ISS, conducting scientific experiments, educational outreach, and commercial activities with NASA and ISRO.
- The Ax-4 mission marks the first time India, Poland, and Hungary will collaborate on a spaceflight, with Poland and Hungary returning to human spaceflight after 40+ years.
Books and Author
Amit Shah releases “Indian Renaissance: The Modi Decade” book
- Union Home Minister and Minister of Cooperation Amit Shah has released “Indian Renaissance: The Modi Decade” book in New Delhi.
- Amit Shah said that in the past 10 years of Prime Minister Shri Narendra Modi’s tenure have marked the end of an era and the beginning of a new one. He emphasized that whenever India’s history is rewritten, even Modi Ji’s staunchest critics will acknowledge these 10 years in golden letters.
Recent Books
- Mastering Disruption: A practical Guide to understanding – Ganesh Krishnan
- View Finder A memoir – Amol Palekar
- How India Scaled MT G20 – Amitabh Kant
- Middle Class India: Driving Change in the 21st Century – Journalist Manisha Pande
- Will India Get Rich Before It Turns 100 – Prosenjit Datta
- Indian The Meteroic Rise of Indian in America – Meenakshi Ahamed
Sports
Thomas Cook India appointed as exclusive partner for National Games 2025
- Omnichannel travel firm Thomas Cook (India) has partnered with the central government for providing accommodation, catering and transport services for the National Games of India 2025 being held in Uttarakhand.
- National Games of India 2025 is a multi-sport extravaganza bringing together top athletes from across the country to participate in 32 sporting disciplines and 4 demonstration events during January 28-February 14, 2025.
- Thomas Cook India has been appointed the exclusive partner to deliver end-to-end management across 3 key portfolios of accommodation, catering and transport for 20,000 contingents, including over 10,000 athletes, 5,000 support staff, and 3,000 dignitaries.
Important day
30 January – World Neglected Tropical Diseases (NTD) Day
- World Neglected Tropical Diseases (NTD) Day is observed annually on January 30 to raise awareness about neglected tropical diseases (NTDs) and mobilize global efforts to eliminate them.
- These diseases affect over 1.7 billion people worldwide, particularly in tropical and subtropical regions with poor access to healthcare, clean water, and sanitation.
- Theme 2025 – Act. Eliminate.
- It was officially recognized by the World Health Organization (WHO) in 2021.
Obituary
Renowned Sculptor Latika Katt Passes Away
- Latika Katt, one of India’s most prolific and celebrated sculptors, passed away at the age of 76.
- Over her five-decade-long career, she worked with a variety of mediums, including terracotta, papier-mâché, stone, and bronze, earning numerous national and international awards for her contributions to art.
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