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Daily Current Affairs 8th February 2024 Daily GK Update
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National News
Dharmendra Pradhan launches EdCIL Vidyanjali Scholarship Programme
- Union Education Minister Dharmendra Pradhan has launched the EdCIL Vidyanjali Scholarship Programme.
- The Vidyanjali Scholarship Program symbolizes a whole-of-society approach to empowerment through access and opportunities of education, particularly to students belonging to economically disadvantaged sections.
- He commended the efforts of students of NVS and mentioned that nearly 14,000 students have succeeded in getting admission to reputed institutes including IITs, NITs, etc. without joining any coaching centres.
Anurag Singh Thakur kicks off 1st BIMSTEC Aquatics Championships
- Union Minister for Youth Affairs and Sports Anurag Singh Thakur kicked off BIMSTEC Aquatics Championships 2024 in New Delhi.
- The BIMSTEC Aquatics Championships is being held for the first time.
- The announcement for the same was made by Prime Minister Shri Narendra Modi during the 4th BIMSTEC Summit in 2018, where he announced the organizing of the BIMSTEC Youth Water Sports competition in India.
- The event was initially proposed for the year 2021, however, it was later postponed to 2024 due to the outbreak of the COVID-19 pandemic across the world.
- A total of 39 medals will be given out across three sporting events along with a total of 9 trophies that will be at stake. Over 500 personnel are expected at the events, including 268 athletes from various BIMSTEC member countries.
- BIMSTEC (The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) constitutes a unique link between South and South-East Asian countries with five members from South Asia (Bangladesh, Bhutan, India, Nepal and Sri Lanka) and two members from South-East Asia (Myanmar & Thailand).
Iran announces visa-free travel for Indian nationals
- The Iranian government has approved a visa-free policy for Indian nationals. This policy will be only valid for tourism purposes.
- With this exemption, Indian citizens holding ordinary passports can enter Iran without a visa once every six months for a maximum stay of 15 days.
- In December, Iran approved a new visa-free programme for India and 32 other countries, including the United Arab Emirates, Saudi Arabia, Indonesia, Japan, Singapore and Malaysia.
- If Indian citizens wish to stay for a longer period or make multiple entries within a six-month period or require other types of visas, it is mandatory to get necessary visas through the respective representations of Iran in India.
About Iran
- Capital – Tehran
- Currency – Rial
- President – Ebrahim Raisi
Aether Industries to commission 15 MW solar power plant in Gujarat
- Aether Industries will commission a 15 MW solar power project (Auto-Tracker Modules) under the Captive Power Producer (CPP) segment in the Bharuch district of Gujarat with an aim to become more sustainable.
- Earlier, in July 2023, Aether Industries had commissioned a 16 MW solar power project (Fixed Modules) under the CPP segment and this new solar power plant under CPP will add to its renewable energy sources and further move towards sustainability.
- The solar power farm will be in Gujarat’s Bharuch District and spread across 60 acres.
- The phase-wise commissioning of the solar power plant is set to begin as early as the next financial year starting April.
About Gujarat
- Capital- Gandhinagar
- Chief Minister- Bhupendra Rajnikant Patel
- Governor- Acharya Devvrat
India to be world’s biggest oil demand growth driver through 2030: IEA
- India will in seven years become the largest source of global oil demand growth as its domestic production shrinks 22 per cent, according to the International Energy Agency (IEA).
- The two trends have major implications as India is already the world’s second largest net importer, said the agency in a report released at the India Energy Week in Goa.
- India’s crude imports reached 4.6 million b/d in 2023, increasing 36 per cent in a decade.
- India’s domestic production meets just 13 per cent of its needs. In 2023, domestic oil production averaged around 700 thousand b/d.
- Electric vehicles and advances in energy efficiency will result in the country avoiding 480 thousand b/d of extra demand in 2023-2030.
India Decided to Fence its Border with Myanmar
- The Indian government has decided to build a fence or close border along the 1,643-kilometer border with Myanmar, according to Union Home Minister Amit Shah.
- Several thousand anti-Junta rebels have fled to India since the Myanmar military coup in 2021 and tribal militants are also believed to enter into India through the porous border.
About Indo-Myanmar Border
- The India-Myanmar border spans 1,643 km and passes through four states – Mizoram, Manipur, Nagaland, and Arunachal Pradesh.
- A 10 km stretch in Moreh, Manipur, has already been fenced and two pilot projects using a Hybrid Surveillance System (HSS) are underway.
- These projects will fence one km each in Arunachal Pradesh and Manipur. Furthermore, fence works covering approximately 20 km in Manipur have also been approved and the work will commence soon.
About Free Movement Regime (FMR)
- The Free Movement Regime (FMR) is an agreement between India and Myanmar that allows local tribes living along the border to travel up to 16 kilometres inside the other country without requiring a visa.
- According to agreement, local tribes living in any area within 16 km on either side of the border can travel with one-year validity and stay for a maximum of two weeks.
Bihar govt launched Device ‘NITISH’ for farmers
- Bihar State Disaster Management Authority and IIT Patna have collaborated to develop a pendant-shaped device called NITISH (Novel Initiative Technological Intervention for Safety of Humanlives)
- The device uses voice messages to alert users about impending lightning, floods, heatwaves, and coldwaves, helping farmers and common people stay informed and protected.
- The device is synced with the Bihar Meteorological Service Centre.
About Bihar
- Capital – Patna
- Chief Minister – Nitish Kumar (9th time)
- Deputy CM – Samrat Choudhary and Vijay Kumar Sinha
- Governor – Rajendra Vishwanath Arlekar
Banking and Financial
CCI approves acquisition of 70% stake by Zurich Insurance Company Ltd. in Kotak Mahindra General Insurance
- The Competition Commission of India (CCI) has approved acquisition of 70% stake by Zurich Insurance Company Ltd. (Acquirer) in Kotak Mahindra General Insurance Company Limited (Target).
- The Proposed Combination involves an acquisition of a majority stake in Target by the Acquirer from Kotak Mahindra Bank Limited.
- Pursuant to the Proposed Combination, the Acquirer will acquire a 51% stake in Target (through a combination of fresh growth capital and share purchase). In addition to the above, the Acquirer will also acquire an additional stake of up to 19% in the Target, over a period of time.
- The Acquirer is a wholly owned subsidiary of Zurich Insurance Group Ltd. (Zurich Insurance Group) The Acquirer is a leading multi-line insurer serving people and businesses in more than 200 countries and territories.
- The Acquirer as part of the Zurich group has about 60,000 employees and is headquartered in Zurich, Switzerland.
HDFC Bank rolls out 4 SME credit cards for entrepreneurs, freelancers
- India’s largest private sector bank, HDFC Bank has launched four new small and medium enterprises (SME)-focused credit cards to cater to the specific needs of entrepreneurs, freelancers, and professionals.
- The biggest USP of the cards is that they will provide 55 days of interest-free credit, the highest number of days offered by any bank.
- In addition, they also provide savings on core business spends like utility bills, GST, income tax, vendor payments, business travel, and business productivity tools.
- The new cards will make up a part of the strong suite of SME payments solutions that the bank offers — BizFirst, BizGrow, BizPower, and BizBlack. The SME Payment Solution is designed to meet the diverse payment needs of self-employed individuals, SMEs and MSMEs.
Recent Facilities Launched in Banking & Insurance Sector
- SBI Life Insurance launched two products– ‘SBI Life – Saral Swadhan Supreme’ and ‘SBI Life – Smart Swadhan Supreme’.
- LIC launched new saving and annuity plan Jeevan Dhara II.
- Bank of Baroda launched ‘bob-360’ deposit scheme with annual interest rate of 7.60 percent.
- ICICI Bank Canada launched ‘Money2India (Canada)’ Mobile Banking App
- IndusInd Bank launch Platinum Credit Card association with EazyDiner
Max Financial gets IRDAI nod for capital infusion of Rs 1,612 cr by Axis Bank into Max Life Insurance
- Max Financial Services has received approval from Insurance Regulatory and Development Authority of India (IRDAI) for capital infusion of Rs 1,612 crore by Axis Bank into the company’s material subsidiary, Max Life Insurance.
- As part of the deal, Max Life will issue nearly 14,25,79,161 equity shares to Axis Bank for an aggregate investment of above-mentioned amount.
- The capital infusion will help Max Life to support its future growth ambitions, to augment its capital position and to improve solvency margins.
- While the financial services company has received green light from the Pension Fund Regulatory and Development Authority (PFRDA) already, it has also sought approval from the Competition Commission of India (CCI) for the deal.
Awards
Dr. Bina Modi selected as ‘Outstanding Business Woman of the Year 2023’
- Chairperson of Modi Enterprises, Bina Modi has been honored with the ‘Outstanding Business Woman of the Year 2023’ award by the Defence Minister of India, Rajnath Singh.
- The award, presented to her at a prestigious conference by the Indo-American Chamber of Commerce (IACC) on ‘Strengthening Indo-US Relationship in Amritkal-Aatmanirbhar Bharat.
- Bina Modi, the Chairperson of Modi Enterprises – KK Modi Group, also heads the Group’s FMCG giant Godfrey Phillips India and one of India’s agro-chemical leaders, Indofil, as the Chairperson and Managing Director.
Recent Awards
- Maha Gaurav 2024 award by Maharashtra govt – Nikhil Mukund Wagh.
- The UK’s Blavatnik Awards – 3 Indian Scientist (Rahul R Nair, Mehul Malik, and Tanmay Bharat)
- Certified as a Top Employer 2024 in India by Top Employers Institute – NTPC Limited
- Female Wushu Athlete Of The Year – Naorem Roshibina Devi (Manipur)
- Excellence Award by Quality Circle Forum of India (QCFI) –Thiruvananthapuram Intl. Airport
PT Usha honoured with lifetime award by SJFI & DSJA
- Legendary sprinter and IOA president PT Usha received the ‘Lifetime Achievement’ award from the Sports Journalists Federation of India and the Delhi Sports Journalists Association.
- Usha is the fifth recipient of this award after tennis legend Vijay Amritraj, badminton icon Prakash Padukone, legendary cricketer Sunil Gavaskar and iconic sprinter Milkha Singh.
- Usha, throughout her memorable career between 1977 and 2000, won 103 international medals for India.
- She also claimed four gold and seven silver medals at the Asian Games and competed across three editions of the Olympics.
Science
IIT Kanpur develops India’s first hypervelocity expansion tunnel test facility
- The Indian Institute of Technology Kanpur (IITK) has achieved a major milestone by successfully establishing and testing India’s first hypervelocity expansion tunnel test facility.
- With this technical facility developed by IIT Kanpur, hypersonic cruise missiles can be prepared for precise targeting.
- According to IITK, the facility is capable of generating flight speeds between 3-10 km/s, simulating the hypersonic conditions encountered during atmospheric entry.
- Thus, it is a valuable test facility for ongoing missions of the Indian Space Research Organization (ISRO) and Defence Research and Development Organization (DRDO) including Gaganyaan, RLV (Reusable Launch Vehicle), and hypersonic cruise missiles.
IITs in News
- IIT Madras to open new campus at Kandy in Sri Lanka
- ArcelorMittal partners with IIT Madras to create Hyperloop facility in Tamil Nadu
- Reliance Jio joins hands with IIT Bombay to launch Bharat GPT
- IIT Guwahati collaborated with Assam govt’s Arohan Scheme over STEM
- Indian Navy signed MoU with IIT Kanpur to promote technology development
Defence
IIT Madras to create India’s first 155mm smart ammunition
- Indian Institute of Technology Madras (IIT Madras) has partnered with Munitions India Limited (a Defence Public Sector Enterprise) to develop India’s first indigenously-designed 155 Smart Ammunition to achieve indigenization in the defence sector.
- The objective is to increase the accuracy of 155 mm shell within a Circular Error Probable (CEP) of 10 m. At present, ammunitions developed in India has a CEP of 500 m. Another goal is to increase the lethality at the terminal impact point.
About Munitions India Limited
- Munitions India comes under the Ministry of Defence.
- Headquarters – Pune
- Munitions India is the country biggest manufacturer and market leader engaged in the production, testing, research and development and marketing of a comprehensive range of ammunition and explosives for the Army, Navy, Air force and Paramilitary Forces.
Important day
7 February – National Black HIV/AIDS Awareness Day
- National Black HIV/AIDS Awareness Day is observed every year on 7 February.
- National HIV/AIDS Awareness Day (NBHAAD) was first observed in 1999.
- Theme 2024- Engage, Educate, Empower: Uniting to End HIV/AIDS in Black Communities
- This observance is a day to acknowledge how HIV disproportionately affects Black people.
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