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Daily Current Affairs 27th and 28th January 2024 Daily GK Update
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National News
Cabinet approves Protocol for establishment of joint Economic and Trade Committee between India and Dominican Republic
- The Union Cabinet chaired by PM Narendra Modi approved the proposal for signing of a protocol for establishment of Joint Economic and Trade Committee (JETCO) between the Department of Commerce, Ministry of Commerce and Industry of the Republic of India and the Ministry of Foreign Affairs of the Dominican Republic.
- Bilateral relations between India and the Dominican Republic have been friendly and continue to deepen in all spheres. At present, there is no bilateral institutional mechanism between India and Dominican Republic on trade and commerce.
- India primarily imports gold from the Dominican Republic and exports pharmaceuticals, marine products, motor vehicles, two and three-wheelers etc. to them.
- The establishment of JETCO will strengthen the economic ties between India and the Dominican Republic and shall play a pivotal role and provide a platform for discussions, exchange of information, knowledge and ideas which would in turn facilitate trade and industry.
- The Joint Committee will provide a platform for exchange of information between various authorities and their counterparts. This would help in facilitating trade of goods and services and consequentially help in better employment opportunities for professionals in both countries.
About Dominican Republic
- Capital- Santo Domingo
- Currency- Dominican Peso
- Continent- North America
- Official language- Spanish
Krutrim becomes India’s first $1 billion AI startup
- Ola Krutrim, the artificial intelligence (AI) startup founded by serial entrepreneur Bhavish Aggarwal, has achieved unicorn status following a successful funding round that secured $50 million from prominent investors, including Matrix Partners India.
- The company proudly announced its newfound status as the first Indian AI startup to reach a billion-dollar valuation, a remarkable feat achieved within a month of unveiling a large language model.
- The startup, aptly named Krutrim, translating to “artificial” in Sanskrit, is not only focusing on advancing AI language capabilities but is also delving into the development of data centres. The ultimate goal is to create servers and supercomputers tailored to the evolving needs of the AI ecosystem.
- Krutrim will be available in beta version for consumers in February 2024. Additionally, it will also be available as an API for enterprises and developers, seeking to create AI applications.
Reliance Jio and OnePlus join hands to set up 5G innovation lab in India
- Telecom major Reliance Jio and Chinese smartphone company OnePlus have joined hands to set up a 5G innovation lab in India.
- The alliance between OnePlus and Jio aims to provide OnePlus and Jio True 5G users with differentiated features and an unparalleled network experience.
- To bolster these initiatives, both brands are excited to announce the establishment of a state-of-the-art 5G Innovation Lab. The lab will serve as a hub for testing and developing new technologies.
- 85 per cent of the entire 5G deployment in India has been made by Jio.
Nirmala Sitharaman To Become 2nd FM To Present 6 Consecutive Union Budgets
- Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row — five annual Budgets and one interim — a feat achieved so far only by former Prime Minister Morarji Desai.
- With the presentation of the interim Budget on February 1, Ms Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P. Chidambaram, and Yashwant Sinha, who had presented five budgets in a row.
- Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964.
- Former Prime Minister Morarji Desai who holds the tag of presenting 10 Budgets — the maximum by any finance minister — had presented six of them, including one interim, in a row.
Tata Group, Airbus team up to make helicopters
- The Tata Group and European aerospace company Airbus have signed an agreement to manufacture H125 civilian helicopters together in India.
- The partnership would include air and space tech, maritime tech, including underwater domain awareness, and equipment and systems related to land warfare.
- It also heavily focuses on cutting-edge technology, including robotics, artificial intelligence, cyber-defence, and autonomous vehicles and platforms.
- Also, in partnership with Tata Advanced Systems Limited (TASL), Airbus Helicopters will set up a final assembly line (FAL) for H125 civilian helicopters. This will be India’s first private helicopter manufacturing facility.
- The FAL will take 24 months to set up and deliveries of the first ‘made-in-India’ H125s are expected to commence in 2026.
- This announcement came as India and France adopted a joint defence production road map and an agreement on defence space partnership, following talks between Prime Minister Narendra Modi and French President Emmanuel Macron.
63rd Central Geological Programming Board (CGPB) Meeting Convened In Bhopal
- The 63rd gathering of the Central Geological Programming Board (CGPB) took place in Bhopal, Madhya Pradesh.
- The meeting was held under the Chairmanship of Shri V.L. Kantha Rao, Secretary, Ministry of Mines. Shri Sanjay Lohiya, Additional Secretary, Ministry of Mines,Shri Janardan Prasad, Director General, GSI,senior functionaries of different Ministries, State Directorates of Mining & Geology, PSUs, representatives from private mining industry, Mining associations and other stakeholders attended thecrucial
- The proposed Annual Programme for the ensuing Field Season year 2024-25 was placed before the Board for discussion.
- During the ensuing year 2024-25 GSI has formulated about 1055 scientific programs for the year 2024-25, which include 392 Mineral Development projects (G2; G3; G4; and Offshore Explorations) that have the potential to generate auctionable mineral blocks in near future.
Banking and Financial
Bank of Baroda’s arm rebranded as ‘BOBCARD Limited’
- Bank of Baroda’s wholly-owned subsidiary for cards, ‘BOB Financial Solutions Limited’, has been rebranded as ‘BOBCARD Limited’ with the tagline “Credit Reimagined”.
- The NBFC has also unveiled a new logo called ‘Baroda Sun’, which comprises dual ‘B’ letterforms that hold the rays of the rising sun.
- The rebranding embodies “revitalised commitment to reimagine the country’s credit landscape with excellent credit solutions and customer-centric offerings”.
- BOBCARD offers an array of consumer and commercial credit cards and caters to all segments of customers with varied needs, including shopping, travel and business cards for large corporates and MSMEs.
- The company also has exclusive credit cards for Defence Personnel including the Indian Army, Indian Navy, the Indian Coast Guard, Assam Rifles, professionals like ICAI, ICMAI & ICSI, co-branded cards with HPCL, Snapdeal, IRCTC, Premium Lifestyle cards like Eterna, Premier, among others.
About Bank of Baroda (BOB)
- Founded – 1908
- Headquarters – Vadodara, Gujarat
- MD & CEO – Debadatta Chand
- Tagline – India’s International Bank
Four companies get SEBI’s nod to launch IPOs
- Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator SEBI’s approval to raise funds through initial public offerings.
- However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals.
- These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi).
- In Sebi’s parlance, obtaining observation letters means its go-ahead to launch an IPO.
Awards
Foxconn CEO Young Liu honoured with Padma Bhushan
- In a remarkable recognition of his outstanding contributions to the technology industry, Young Liu, the Chief Executive Officer and Chairman of Foxconn, the Taiwanese multinational electronics contract manufacturer, has been bestowed with the prestigious Padma Bhushan award.
- Young Liu, a seasoned entrepreneur and innovator, boasts an impressive career spanning over four decades.
- His entrepreneurial journey began in 1988 when he founded Young Micro Systems, a motherboard company. Subsequently, in 1995, he ventured into the realm of IC design, focusing on PC chipsets. In 1997, Liu established ITE Tech, known as ITeX, marking the third successful venture in his illustrious career.
- Foxconn, headquartered in Taiwan, stands as the world’s largest contract manufacturer, responsible for assembling approximately 70% of iPhones.
- The company has strategically diversified its production away from China in response to disruptions caused by the COVID-19 pandemic and escalating geopolitical tensions.
- The Padma Bhushan Award is one of the highest civilian honours in India. This year, the President approved 132 Padma awards across various fields, including art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, and civil service.
Defence
Joint military exercise – SADA TANSEEQ between India & Saudi Arabia to be held in Rajasthan
- The inaugural edition of the Joint Military Exercise ‘SADA TANSEEQ’ between India and Saudi Arabia will be held from January 29 to February 10 in
- The exercise aims to enhance synergy, interoperability and jointmanship by learning and sharing best practices between the Armies of both nations.
- The joint exercise will focus on counter-terrorism operations under the United Nations Mandate.
- During the exercise, participants will engage in missions ranging from joint planning, operations, joint tactical drills, and will provide field commanders and troops an opportunity to interact with each other.
- Earlier in January, India and Saudi Arabia signed a bilateral agreement under which New Delhi has been allocated a quota of 1,75,025 pilgrims for the annual Haj pilgrimage in 2024.
Recent Exercise
- 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
- 1st edition of Navy Exercise ‘Ex-Ayutthaya’ between India & Thailand
- 1st edition of Military Exercise ‘Desert Cyclone’ between India & UAE – Rajasthan
Sports
Virat Kohli wins ICC Men’s ODI Cricketer of the Year Award 2023
- Indian batting maestro Virat Kohli was crowned the ICC men’s ODI Cricketer of the Year 2023 for his excellent run in the format last year headlined by a phenomenal outing in the World Cup at home.
- This is the fourth such award for Kohli, who was the second most prolific run-scorer in ODIs last year behind compatriot Shubman Gill.
- The former India skipper finished the year with 1,377 runs which included six centuries and eight half-centuries.
- This is the seventh individual ICC award won by Kohli during his glittering career, and his fourth in the ODI category after previous wins in 2012, 2017 and 2018.
- He also won the Test award in 2018 while the years 2017 and 2018 saw him also win the Sir Garfield Sobers Trophy for ICC Men’s Cricketer of the Year.
Others Awards
- ICC Men’s Cricketer of the Year (Sir Garfield Sobers Trophy) – Pat Cummins (Australia)
- ICC Women’s Cricketer of the Year (Rachael Heyhoe Flint Trophy) – Nat Sciver-Brunt (England)
- ICC Men’s Test Cricketer of the Year – Usman Khawaja (Australia)
- ICC Men’s ODI Cricketer of the Year – Virat Kohli (India)
- ICC Women’s ODI Cricketer of the Year – Chamari Athapathth (Sri Lanka)
- ICC Men’sT20I Teams of the Year – Surya Kumar Yadav (India)
- ICC Women’sT20I Teams of the Year – Chamari Athapathth (Sri Lanka)
- ICC Umpire of the Year (David Shepherd Trophy) – Richard Illingworth (England)
- ICC Spirit of Cricket of the Year Award – Zimbabwe
- ICC Men’s Emerging Cricketer of the Year – Rachin Ravindra (New Zealand)
- ICC Women’s Emerging Cricketer of the Year – Phobe Litchfield (Australia)
Important day
26 January – International Day of Clean Energy
- International Day of Clean Energy is observed every year on January 26.
- This day serves as a reminder of the critical role clean energy plays in combating climate change, reducing carbon emissions, and ensuring a healthier planet for future generations.
- Adopting clean energy is integral to the fight against climate change. For decades, science has shown that to limit climate change, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, sustainable, accessible, affordable, and reliable.
27 January – International Day of Commemoration in Memory of the Victims of the Holocaust
- January 27th marks a solemn occasion recognised globally as the International Day of Commemoration in memory of the victims of the Holocaust.
- This day serves as a poignant reminder of the horrors of the Holocaust and the enduring need to fight against hatred, bigotry, and racism in all its forms.
- In November 2005, the United Nations General Assembly designated January 27 as an “International Day of Commemoration in memory of the victims of the Holocaust”(Resolution 60/7).
- It reaffirmed that the Holocaust, which resulted in the murder of one-third of the Jewish people, along with countless members of other minorities, will forever be a warning to all people of the dangers of hatred, bigotry, racism, and prejudice.
- On January 27, 2006, the first worldwide International Holocaust Remembrance Day celebrated.
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