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Daily Current Affairs 4th January 2024 Daily GK Update
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National News
IREDA Declared 2024 as ‘Year of HR Development and Discipline’
- CMD of IREDA, Pradip Kumar Das has declared 2024 as the ‘Year of Human Resource Development and Discipline’.
- The CMD praised the efforts of the employees that have propelled IREDA to new heights.
- The year 2024 will be christened as ‘Year of Human Resource Development and Discipline’ to mark IREDA’s future roadmap into new strategic sectors and geographies.
- The move suggests IREDA’s commitment to evolving and adapting to new challenges while prioritizing the development and discipline of its human resources to drive the organization’s progress.
About Indian Renewable Energy Development Agency Limited (IREDA)
- IREDA is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987
- Motto- “ENERGY FOR EVER”
- Chairman & MD- Pradip Kumar Das
- CFO- Bijay Kumar Mohanty
Reliance Industries first in India to receive ISCC-Plus certification
- Reliance Industries has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability and Carbon Certification (ISCC)-Plus certified circular polymers.
- This innovation is a testimony to Reliance’s commitment to reducing plastic waste and supporting the circular economy in India.
- Reliance shipped its first batch of ISCC-Plus-certified circular polymers, named CircuRepol (Polypropylene) and CircuRelene (Polyethylene).
- CircuRepol and CircuRelene have been designed to lead the way in circular economy practices. Reliance’s Jamnagar refinery became the first refinery to get the important ISCC-Plus certification, proving that it can produce circular polymers through chemical recycling
- The ISCC-Plus certification guarantees that traceability and rules are followed in making circular polymers.
- Reliance has developed a technology that turns different types of plastic waste, including single-use and multi-layered plastics, into pyrolysis oil.
KABIL to invest over ₹200 cr towards securing lithium supplies in Argentina
- India’s KABIL (Khanij Bidesh India Ltd) will invest ₹211 crore ($ 25.712 million) over a five-year period for exploration stage activities of five lithium blocks in Fiambala area of Argentina.
- An exploration and development agreement in this regard is expected to be signed with CAMYEN, a state-owned miner in Argentina’s Catamarca province, later this month.
- The KABIL board approved proposals of signing an exploration and development agreement with CAMYEN and opening of branch office in Catamarca; as well as the investment proposal towards exploration stage activities of the five lithium blocks in June last year.
About Argentina
- Capital- Buenos Aires
- Currency- Argentine Peso
- President – Javier Milei
- National sport- Pato
CCI approved Punjab government’s buy of private thermal plant
- The Competition Commission of India (CCI) has approved the Punjab government’s purchase of a private thermal plant, Goindwal Sahib Thermal Power Plant.
- CCI approves the proposed acquisition of 100 percent shareholding of GVK Power (Goindwal Sahib) Ltd by Punjab State Power Corporation Ltd (PSPCL).
- The government had created history by buying a private thermal plant, Goindwal Sahib Thermal Power Plant for ₹ 1,080 crore, at the cheapest price in the country.
- This is the first time that a State has purchased a thermal plant. The 540-MW thermal plant would be named after Guru Amardass, the third Guru of Sikhs.
About Punjab Power Corporation
- PSPCL is a fully owned undertaking of the Government of Punjab.
- The erstwhile Punjab State Electricity Board (PSEB), was a statutory body formed on February 1, 1959 under the Electricity Supply Act, 1948.
- The PSEB was “unbundled” by the Government of Punjab on April 16, 2010 into two separate entities – Punjab State Power Corporation Limited (PSPCL) and Punjab State Transmission Corporation Limited (PSTCL).
- GVK Power (Goindwal Sahib) Ltd was incorporated in December 1997 and is a wholly-owned subsidiary of GVK Energy Ltd, which in turn, is the subsidiary of GVK Power and Infrastructure Ltd.
Hyderabad, Bengaluru airports score high in global on-time ranking
- Bengaluru’s Kempegowda International Airport bagged third position in the world for its annual On-Time Performance (OTP) in the year 2023.
- According to a report released by aviation analytics firm Circum, Hyderabad airport is ranked as the second most punctual airport in the world and Bengaluru airport stands next.
- The Circum report stated that a flight is considered punctual if it departs or arrives with a difference of 15 minutes from the scheduled time.
- The Kempegowda International Airport has achieved 84.08 % punctuality rate in the year 2023, making it one of the most punctual airports in the world. However, Hyderabad’s Rajiv Gandhi International Airport beat Bengaluru airport with a slightly higher punctuality rate stands at 84.42%.
- Meanwhile, America’s Minneapolis’ St Paul International Airport topped the list of most airports across the globe with a punctuality rate of 84.44%.
Maharashtra aims to become Global Drone hub
- The Maharashtra government has approved the Maharashtra Drone Mission (MDM) to harness drone technology.
- Functions include security surveillance, disaster rescue, delivery of emergency medicines, vaccines to remote areas, infrastructure project monitoring, and traffic management.
- A five-year implementation plan has been prepared based on a report by a team of experts from the Indian Institute of Technology (IIT)-Bombay which would be monitored by a committee headed by the Chief Secretary.
- The Drone Mission will be headquartered at IIT-B.
- The Drone Mission will help Maharashtra become a Global Drone hub, the notification said. The IIT-B report, which led the government to approve the Mission, was submitted in October last year.
About Maharashtra
- Capital – Mumbai
- Chief Minister – Eknath Sindhe
- Deputy Chief Minister – Devendra Fadnavis & Ajit Pawar
- Governor – Ramesh Bais
PM inaugurates Kochi-Lakshadweep Islands Submarine Optical Fibre Connection
- Prime Minister, Narendra Modi has inaugurated the Kochi-Lakshadweep Islands submarine optical fiber connection (KLI-SOFC) project.
- He also inaugurated various developmental projects worth more than Rs 1,150 crore covering a wide range of sectors including technology, energy, water resources, healthcare, and education.
- The KLI-SOFC project will lead to an increase in internet speed unlocking new possibilities & opportunities. For the first time since independence, Lakshadweep will be connected through Submarine Optic Fibre Cable.
- The dedicated submarine OFC will ensure a paradigm shift in communication infrastructure in the Lakshadweep islands, enabling faster and more reliable internet services, telemedicine, e-governance, educational initiatives, digital banking, digital currency usage, digital literacy, etc.
- Kochi-Lakshadweep Islands Submarine Optical Fiber Connection (KLI – SOFC) project has been dedicated to people today and will ensure 100 times faster Internet for the people of Lakshadweep.
- The project will play a significant role in achieving the objective of ‘Digital India’ and ‘National Broadband Mission’ and for rolling out of various e-governance projects of the Government of India in Lakshadweep Islands.
- The bandwidth created under this project will be available to all Telecom Service Providers (TSPs) to strengthen their telecom services in the Lakshadweep Islands.
- Total link distance: 1,868 kilometers.
- Total cost of project: Rs 1072 crore plus taxes.
International News
Francoise Bettencourt Meyers becomes first woman with a $100 billion
- Françoise Bettencourt Meyers, heiress to the L’Oréal beauty empire, has made history as the world’s first woman to surpass a net worth of $100 billion, according to the Bloomberg Billionaires Index.
- This milestone was achieved through the surge in L’Oréal S.A. stock. As of that day, her net worth stood at $100.1 billion, shows Bloomberg’s data.
- Established in 1909 by Bettencourt Meyers’ chemist grandfather, Eugene Schueller to sale a hair dye, the company has been led by non-family executives for many decades.
- L’Oreal Group, the world’s largest cosmetics company, owns brands like Lancome and Maybelline.
- L’Oreal acquires Australian brand Aesop in a $2.5 billion deal in 2022. Marks the largest brand acquisition in L’Oreal’s history.
Russia takes over the BRICS chairmanship
- Russia has taken over the BRICS chairmanship as of January 1, following the decision made during the 15th BRICS Summit in August 2022.
- Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates have joined BRICS as new full members which is a strong indication of the growing authority of the association and its role in international affairs.
- BRICS continues to attract a growing number of supporters and like-minded nations that share fundamental principles such as sovereign equality, respect for diverse developmental paths, mutual consideration of interests, openness, consensus-building, the pursuit of a multipolar global order, a fair global financial and trade system, and collective solutions to major global challenges.
About Russia
- Capital – Moscow
- Currency – Rubel
- President – Vladimir Putin
Banking and Financial
India Ratings revises PNB Housing Finance NCD ratings from AA to AA+
- PNB Housing Finance, a housing finance company, said that India Ratings and Research (Ind-Ra) has upgraded the rating of the company’s non-convertible debentures (NCDs) to ‘IND AA+’ from ‘IND AA’ with stable outlook.
- Further, Ind-Ra said that NCDs limit has been split into bank loans and NCDs and ‘IND AA+’ rating has been assigned to the bank loans.
- The rating rationale mentions that the key drivers for the rating upgrade are granularization of loan book with 96 percent being retail and almost complete rundown of the corporate book, robust capital buffers post equity infusion of ₹2,500 through rights issue, improved asset quality, diversified resource profile with the ability to raise funds from banks and the capital markets, adequate liquidity and improvement in profitability.
Bank of India introduced Super Special Fixed Deposit
- Bank of India has introduced Super Special Fixed Deposit with an incredibly enticing interest rate of 7.50% per annum.
- This offer is available for both existing customers and the general public, but only for deposits ranging from ₹2 Crores to less than Rs. 50 Crores.
- The fixed deposit has a specific maturity period of 175 days, starting from January 1st, 2024.
- The Super Special Fixed Deposit offers an excellent opportunity for High-Net-Worth Individuals (HNIs) and Corporates to invest their surplus funds for the short term.
- With a high yield of 7.50% per annum for a period of 175 days, this fixed deposit stands out as one of the most attractive options for short-term investments. It surpasses other fixed deposit options of similar tenure.
- Senior citizens aged 60 years and above but below 80 years will receive an additional interest rate of 0.50% on their retail term deposits (below Rs. 2 Crores) for a tenor of 6 months and above, up to 3 years.
- On the other hand, super senior citizens aged 80 years and above will be eligible for an additional interest rate of 0.65% on the same retail term deposits for the same tenor range.
Recent Facilities Launched in Banking & Insurance Sector
- IndusInd Bank has launched the ‘IndusInd Bank eSvarna’, India’s first Corporate Credit Card on RuPay network.
- Kotak Mahindra Life Insurance launched U.L.I.P (Term with Unit Linked Insurance Plan) Product
- RBL Bank Introduces Electronic Bank Guarantee on NeSL Platform
- Reliance General Insurance unveils ‘Reliance Health Global’
- IndusInd Bank introduces ‘Indus Solitaire Program’ for the Diamond Industry
Appointment
Justice BR Gavai appoints chairperson of SC legal services committee.
- National Legal Services Authority (NALSA) has nominated Justice BR Gavai as the Chairman of the Supreme Court Legal Services Committee.
- Succeeds Justice Sanjiv Khanna as the Chairperson of the Supreme Court Legal Services Committee.
- Justice Sanjiv Khanna was previously the senior-most puisne judge and currently serves as the Executive Chairperson of NALSA.
- Justice Khanna was recently appointed Executive Chairperson of the National Legal Services Authority (NALSA).
Recent Appointment
- MD & CEO of Kia India – Gwanggu Lee
- Defense Minister of China – Dong Jun (replace Li Shangfu)
- DG of Fire Service, Civil Defence & Home Guards – Vivek Srivastava
- CMD of Power Grid Corporation – Ravindra Kumar Tyagi (replace Sreekant Kandikuppa)
- Deputy Executive Director (Management) of UNFPA – Andrew Paul Saberton, UK (replace Ib Petersen, Denmark)
Nadia Calviño takes over as EIB President
- Nadia Calviño took over as president of the European Investment Bank, replacing Werner Hoyer.
- The eighth president of the EU bank, Calviño is the first woman to lead the institution. She is also the first Spaniard to head the Bank.
- President Calviño was previously first vice-president of the government of Spain and minister of economy, trade, and enterprise.
- In the past, Calviño has also held various positions at the European Commission, where she was deputy director general with special responsibility for financial services, deputy director general for competition, and later director general in charge of the budget.
- Calviño takes over from Werner Hoyer, who had been president of the Bank since 2012. Hoyer gave the Bank a higher public profile, in part through its evolution into the EU climate bank.
Recent Appointment
- Chairman of 16th Finance Commission – Arvind Panagariya
- Secretary of 16th Finance Commission – Ritvik Ranjanam Pandey
- CMD of Mahanadi Coalfields Ltd – Uday A Kaole
- Director (Works) of National High-Speed Rail Corporation Limited (NHSRCL) – Pramod Sharma
- DG of Prisons and Correctional Services – Maheshwar Dayal
Awards
Prof B R Kamboj honoured with M S Swaminathan Award
- Chaudhary Charan Singh Haryana Agricultural University’s Vice Chancellor P B.R. Kamboj has been honoured with the prestigious MS Swaminathan Award in recognition of his contributions as a scientist and extension specialist in the field of agronomy.
- The award ceremony took place at the International Conference on ‘One Health One World,’ held at Rajmata Vijayaraje Scindia Agricultural University at Gwalior in Madhya Pradesh.
- The agricultural recommendations put forth by Prof. Kamboj, stemming from his research work and collaborative extension activities with university scientists, have consistently proven to be highly advantageous for farmers.
- Prof Kamboj has published about 300 research papers and articles in national and international journals, books, and technical magazines.
Recent Awards
- First Indian Company to receive ISCC-Plus certification – Reliance Industries
- Conferred Honorary Doctorate By Japanese University – Devendra Fadnavis
- National Energy Conservation Award 2023 – Karnataka
- SASTRA Ramanujan Award 2022 -Yunqing Tang
- SASTRA Ramanujan Award 2023 – Ruixiang Zhang
Important day
4 January – World Braille Day
- World Braille Day is observed every year on January 4 to honour the birth anniversary of Louis Braille, the inventor of the Braille writing system for blind and visually impaired individuals.
- The primary objective of recognising World Braille Day is to promote Braille literacy and raise awareness among people about its importance.
- Despite the advent of new technologies and systems, visually impaired and blind people still face significant challenges in leading an independent life.
- Louis Braille was a Frenchman who invented the Braille system. He was blind after a car accident at a young age. Before Braille’s system was developed, blind and visually impaired people used the Hauy system, which was a Latin system designed on thick paper or leather.
- However, this method only allowed people to read and not write. Due to its technical limitations, Braille created a user-friendly Braille system that used codes consisting of symbols written in raised dots. People could use this system by touch to recognise the Braille code and continue their communication.
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