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Daily Current Affairs 25th and 26th February 2024 Daily GK Update
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National News
India’s First Gati Shakti Research Chair to be established at IIM Shillong
- The country’s first ‘Gati Shakti Research Chair’ will be established at the Indian Institute of Management (IIM), Shillong.
- The Ministry of Ports, Shipping and Waterways (MoPSW) has collaborated with IIM-Shillong to set up India’s first ‘Gati Shakti Research Chair’.
- This initiative aims to discuss the multimodal logistics development strategy focused on connecting the North Eastern Region (NER) with wider national and international regions to fortify the local economy.
- Through an MoA, IIM Shillong aims to contribute significantly to comprehensive research efforts, envisioning a significant impact not only within the Northeast region but also on a national scale.
SJVN commissions 50 MW Gujrai Solar Power Station in Uttar Pradesh
- SJVN Limited, a Mini Ratna, Category-I and Schedule ‘A’ Central public sector enterprise under the administrative control of Ministry of Power, Government of India, has begun the successful commercial operation of its 50 MW Gujrai Solar Power Station in Kanpur Dehat, Uttar Pradesh.
- With this milestone, the total installed power capacity of SJVN stands at 2,277 MW.
- The 50 MW Gujrai Solar Power Station has been executed by SJVN through its renewable arm, SJVN Green Energy Limited (SGEL) at a cost of Rs 281 crores. The annual revenue from energy generated is expected to be approximately Rs 32 crores.
- The project will generate 107 million units in the first year and the cumulative energy generation over a period of 25 years is estimated to be 2,477 million units.
PFC ties with Italian export credit agency SACE to boost India-Italy cooperation
- State-owned Power Finance Corporation (PFC) has become the first government firm to collaborate with SACE, an Italian export credit agency, to boost the cooperation between the two countries.
- PFC is partnering with SACE, the export credit agency of Italy, for an innovative ECA-backed financing facility under its ‘Push Strategy’ initiative.
- This proposed partnership will position PFC as the first government-owned entity in India to partner with SACE under this initiative.
- Through this structure, PFC will benefit from an 80 per cent guarantee from SACE, with HSBC acting as a coordinating bank, lead arranger and facility agent for the financing of up to 200 million euros.
Kalyani Steels signs MoU with Odisha govt to set up manufacturing unit
- Kalyani Steel Ltd has signed an MoU with the Odisha government to set up a manufacturing facility with an investment of Rs 11,750 crore.
- The project for manufacturing titanium metal, aerospace and automotive components and advanced speciality steel at Gajamara in Dhenkanal district will create 10,000 job opportunities.
- The project would catalyze the growth of micro, small and medium enterprises (MSMEs), spurring the development of a vibrant ecosystem of ancillary industries and OEM (original equipment manufacturer) suppliers, providing many more employment opportunities.
Haryana govt launched ‘Savera’ programme
- Haryana Chief Minister Manohar Lal Khattar has inaugurated the Savera programme — aimed at early detection and prevention of breast cancer.
- It was initiated by the Medanta Foundation in collaboration with the Health Department in Gurgaon.
- Under the scheme, visually impaired people will conduct screening for breast cancer.
- The importance of this ability has been understood, tested, and used by people associated with the medical world.
- Breast cancer is one of the cancer types that mainly occurs in women residing in cities. He said that about 90,000 women across the country lose their lives due to breast cancer, on a daily basis.
About Haryana
- Capital – Chandigarh
- Chief Minister – Manohar Lal Khattar
- Governor – Bandaru Dattatreya
Recent Schemes launched by state governments
- Van Mitra (Haryana) – To encourage community participation in tree planting activities in non-forest areas.
- Swayam Scheme (Odisha) – To provide interest-free loans up to Rs 1 lakh to youth of the state
- CM Vayoshree Yojana (Maharashtra) – For senior citizens who suffer from some physical or mental disability
- Mahtari Vandan Yojana (Chhattisgarh) – To provide Rs 1,000 financial assistance for married women.
- Yuva Nidhi Scheme (Karnataka) – To provide aid for Jobless Youth
- Yogyasree Scheme (West Bengal) – To provide free training modules for SC & ST Students
PM Modi inaugurates India’s longest cable-stayed bridge Sudarshan Setu
- Prime Minister Narendra Modi has inaugurated the Sudarshan Setu, India’s longest cable-stayed bridge, connecting Okha mainland and Beyt Dwarka.
- The unique design of the bridge includes a footpath with verses from the Bhagavad Gita and images of Lord Krishna.
- The bridge, equipped with solar panels, generates one megawatt of electricity.
- The construction of the 2.32 km bridge, costing Rs 979 crore, is significant for local residents and pilgrims visiting the Dwarkadhish Temple. The bridge has a width of 27.20 metres with 2.50-metre-wide footpaths on both sides.
- Beyt Dwarka, an island near Okha port, is approximately 30 km from Dwarka town, the location of the famous Dwarkadhish temple of Lord Krishna. The bridge, earlier known as the ‘Signature Bridge’, has been renamed as ‘Sudarshan Setu’.
- The bridge was initiated by the Centre in 2017 to ease the commute for devotees between Okha and Bet Dwarka. Prior to its construction, pilgrims had to rely on boat transport to reach the Dwarkadhish Temple.
- Modi also inaugurated five All India Institute of Medical Sciences (AIIMS) campuses in Rajkot (Gujarat), Bathinda (Punjab), Raebareli (Uttar Pradesh), Kalyani (West Bengal) and Mangalagiri (Andhra Pradesh).
PM Modi in News
- PM Modi inaugurated and dedicated to the nation two central institutions in Telangana and five in Andhra Pradesh.
- PM Modi lays foundation stone of Kalki Dham temple in UP
- PM inaugurates projects worth Rs 7300 crores in Madhya Pradesh
- PM Narendra Modi Unveils Projects Worth ₹1330 crore In Goa
- PM Modi inaugurated CLEA-CASGC 2024 Conference in New Delhi
- PM Modi Unveils Infrastructure Boost in Bulandshahr, UP
Banking and Financial
Zurich Insurance to acquire 70% stake in Kotak General
- Private sector lender Kotak Mahindra Bank has informed the exchanges that Zurich Insurance will acquire a 70 per cent stake in the bank’s general insurance arm, Kotak Mahindra General Insurance, for Rs 5,560 crore, in a single tranche.
- In November 2023, the bank had announced the sale of a 51 per cent stake in Kotak Mahindra General Insurance to Zurich Insurance for Rs 4,051 crore through a combination of fresh capital infusion and share purchase, followed by a 19 per cent stake sale within a period of three years.
- The proposed 70 per cent acquisition is subject to regulatory approval from the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI).
India’s GDP to grow at around 6.75-6.8% in FY25: BoB
- The Bank of Baroda (BoB) has projected India’s gross domestic product (GDP) to grow at around 6.75 to 6.8 per cent in FY25 and 6.8 per cent for the current financial year.
- The IMF has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in Oct 2023.
- The International Monetary Fund (IMF) has projected the Indian economy to grow at 6.7 per cent for the current fiscal, upgrading the estimates by 40 basis points from its previous forecast in October 2023.
- The World Bank expects the Indian economy to clock a growth of 6.3 per cent in FY24 and 6.4 per cent in FY25, led by strong domestic demand, growing infrastructure spending, along with robust private sector credit growth.
- The Reserve Bank of India (RBI) has pegged the country’s growth at 7 per cent in FY24.
Appointment
Tatung Padi appointed as Director in Skill Development Ministry
- Tatung Padi has been appointed as Director in the Ministry of Skill Development and Entrepreneurship.
- Padi has been appointed to the post under the Central Staffing Scheme for a period of five years from the date of taking over charge of the post until further orders.
- Padi is an Indian Revenue Service (IRS) officer of 2009-batch. He was recommended for the Central deputation by the Department of Revenue.
Recent Appointment
- Punjab ‘state icon’ for Lok Sabha polls – Shubman Gill (Campaign – Is Vaar 70 Paar)
- Speaker of Bihar Legislative Assembly – Nand Kishore Yadav
- MD of Boeing Defence India – Nikhil Joshi
- CMD of IRCTC – Sanjay Kumar Jain
- President of Institute of Chartered Accountants of India (ICAI) – Ranjeet Kumar Agarwal (72nd)
Bhupinder Kumar (IAS) appointed as DCR of J&K and Ladakh
- The Central Government has approved the appointment of Bhupinder Kumar (IAS) for the post of Director of Census Operations (DCO)/Director of Citizen Registration (DCR) (Deputy Secretary level) of Jammu & Kashmir and Ladakh.
- Kumar has been appointed to the post under the Central Staffing Scheme on additional charge basis with effect from the date of taking over charge of the post and for a period up to December 31, 2025 or until further orders, whichever is earlier.
- Kumar is a 2011-batch Indian Administrative Service (IAS) officer of AGMUT cadre.
Geeta Batra is 1st Woman Director of World Bank Body
- Geeta Batra, an India-born economist, has been named as the new Director of the Independent Evaluation Office (IEO) of the World Bank’s Global Environment Facility (GEF).
- This appointment marks a significant milestone, as Batra becomes the first woman from a developing country to assume this prestigious role.
- Batra, 57, is currently the chief evaluator and deputy director for evaluation at the GEF IEO, affiliated to the World Bank.
- Batra’s name was unanimously recommended for the coveted position at the 66th GEF council meeting held in Washington.
- Born in New Delhi, Batra studied at the Villa Theresa High School (1984) in Mumbai, then completed her Economics from the Stella Maris College, Chennai (1984-1987), followed by an MBA in Finance from the NMIMS, Vile Parle (1990) in Mumbai.
Recent Appointment in Foreign
- Country Director for India in ADB – Mio Oka (replace Takeo Konishi)
- US Representative on WHO Board – Vivek Murthy
- Secretary General of BIMSTEC – Indra Mani Pandey (replace Tenzin Lekphell Bhutan)
- ‘Class C’ Director on Board of Directors of Federal Reserve Bank of New York – Rajiv Shah
- Executive Director of Asian Development Bank (ADB) – Vikas Sheel (for 3 years)
- Adviser to the Executive Director of ADB – Smita Sarangi
Defence
India – Japan Joint Exercise “DHARMA GUARDIAN” begins in Rajasthan
- The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan.
- The Exercise is scheduled to be conducted from 25th February to 9th March 2024.
- Exercise ‘DHARMA GUARDIAN’ is an annual exercise and conducted alternatively in India and Japan. The contingent of both sides comprises of 40 personnel each.
- The Japanese contingent is represented by troops from the 34th Infantry Regiment and the Indian Army contingent is represented by a Battalion from the Rajputana Rifles.
Recent Exercise
- 12th edition of MILAN Naval Exercise – Visakhapatnam
- Indian Air Force Conduct Exercise Vayu Shakti-2024 – Jaisalmer, Rajasthan.
- 1st edition of Military Exercise – SADA TANSEEQ between India & Saudi Arabia – Rajasthan
- Desert Knight Exercise between India, France, UAE – over Arabian Sea
- 11th edition of Khanjar Exercise between India-Kyrgyzstan – Bakloh, Himachal Pradesh
- 2nd edition of ‘Cyclone’ exercise between India and Egypt – Anshas, Egypt
Books
The Great Flap of 1942 authored by M Padmanabhan
- The book titled “The Great Flap of 1942: How the Raj Panicked over a Japanese Non-invasion” was authored by Mukund Padmanabhan.
- It is published by Vintage Books.
Recent Books
- 50 Memories from Fifty of Service – Mohammed bin Rashid Al Maktoum (PM of UAE)
- Al and National Security – CDS Anil Chauhan
- 9 Incredible Years of Haryana Government: Emergence of a New and Vibrant Haryana – Released by VP Jagdeep Dhankhar
- Ek Samandar, Mere Andar – Sanjeev Joshi
- Pranab My father – Sharmistha Mukherjee
- The Cooking Books – Ramchandra Guha
- Conversations with Aurangzeb – Charu Nivedita (translated by Nandini Krishnan)
- Assam’s Braveheart Lachit Barphukan – Arup Kumar Dutta (launched by Amit Shah)
Important day
23 February – World Understanding and Peace Day
- World Understanding and Peace Day is every year on 23 February.
- This day is celebrated to promote peace, empathy and cooperation between people of various origins and cultures.
- In 1905, Paul P. Harris assembled a meeting with three of his friends in Chicago. This was the first meeting for the development of Rotary International.
- In 1910, the first Rotary Clubs in America were founded, mainly in Seattle, San Francisco, Oakland, and in Los Angeles.
- The club soon spread to the world and became one of the significant associations. Subsequently, the name of the association was changed to Rotating International. Rotary International’s objective is worldwide peacebuilding and positive goals.
24 February – Central Excise Day
- Central Excise Day is observed every year on 24 February.
- The day commemorates the establishment of the Central Excise and Salt Act, which came into effect in 1944.
- On this day, we also honour the contributions of the Central Board of Indirect Taxes and Customs (CBIC) to the Indian economy.
- CBIC is the administrative authority for its subordinate organizations, which include Central Excise and Central GST Commissionerates, Central Revenues Control Laboratory, and Custom Houses.
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