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CURRENT AFFAIRS: NATIONAL NEWS

PM Modi to inaugurate & lay foundation stone of multiple development projects worth over 30,500 crore rupees in Maharashtra

Prime Minister Narendra Modi will inaugurate and lay the foundation stone of multiple development projects worth over 30,500 crore rupees in Maharashtra.
Mr Modi will inaugurate Atal Bihari Vajpayee Sewari – Nhava Sheva Atal Setu to improve ease of mobility by strengthening urban transport infrastructure.
Atal Setu has been constructed at a total cost of more than 17,840 crore rupees.
It is about a 21.8 km long 6-lane bridge having about 16.5 km length over sea and about 5.5 km on the land.
Prime Minister Modi laid the foundation stone of the bridge in December 2016.
Mr Modi will also lay the foundation stone of the underground road tunnel connecting Eastern Freeway’s Orange Gate to Marine Drive.
The 9.2 Km tunnel will be built at a cost of more than 8,700 crore rupees.
It will be a significant infrastructure development in Mumbai which will reduce travel time between Orange Gate and Marine Drive.
Prime Minister will dedicate phase 1 of the Surya regional bulk drinking water project to the Nation.
The project, developed at a cost of more than 1975 crore rupees will provide drinking water supply to the Palghar and Thane districts of Maharashtra, benefiting about 14 lakh population.
Prime Minister will inaugurate Bharat Ratnam for Gems and Jewellery sector at Santacruz Electronic Export Processing Zone- Special Economic Zone, which is the first of its kind in India with the best available machines in the world including 3D Metal printing.
During the programme, the Prime Minister will launch Namo Mahila Shashaktikaran Abhiyaan.
The Abhiyaan aims to empower women in Maharashtra by providing skill development training and exposure to entrepreneurship development.

CURRENT AFFAIRS: INTERNATIONAL NEWS

South Korea passes law banning dog meat trade

The slaughter and sale of dogs for their meat is to become illegal in South Korea after MPs backed a new law.
The legislation, set to come into force by 2027, aims to end the centuries-old practice of humans eating dog meat.
Dog meat stew, called “boshintang“, is considered a delicacy among some older South Koreans, but the meat has fallen out of favour with diners and is no longer popular with young people.
Under the new law the consumption of dog meat itself will not be illegal.
According to a Gallup poll last year, only 8% of people stated they had tried dog meat in the past 12 months, down from 27% in 2015. Fewer than a fifth of those polled said they supported the consumption of the meat.
The new law focuses on the dog meat trade – those convicted of butchering dogs face up to three years in prison, while people found guilty of raising dogs for meat or selling dog meat could serve a maximum of two years.
Farmers and restaurant owners have three years to find alternative sources of employment and income before the legislation comes into force.
According to government statistics, South Korea had around 1,600 dog meat restaurants and 1,150 dog farms in 2023, all of which will now have to submit a plan to phase out their businesses to their local authorities.
The government has promised to fully support dog meat farmers, butchers and restaurant owners, whose businesses will be forced to close, though the details of what compensation will be offered have yet to be worked through.

India-UAE Business Summit held as part of Vibrant Gujarat Global Summit 2024

The India-UAE Business Summit was held on 10th January 2024 to strengthen bilateral ties between India and the United Arab Emirates (UAE) as part of the Vibrant Gujarat Global Summit 2024.
UAE’s President His Highness (H.H.) Sheikh Mohamed bin Zayed Al Nahyan is the chief guest at the Vibrant Gujarat Global Summit 2024, further emphasising the growing cooperation and strengthening relations between the two nations.
Shri Piyush Goyal, H.E. Dr. Thani bin Ahmed Al Zeyoudi, and Shri Bhupendra Rajnikant Patel ceremonially launched the UAE – India CEPA Council (UICC) website as part of the inaugural session.
The session also highlighted India’s booming startup landscape and included remarks from Shri Kunal Bahl, Chairman – Confederation of Indian Industry (CII) National Startup Council and Co-founder – Snapdeal and Titan Capital.
A report on the CII India-UAE Start-Up Initiative titled “Unlocking Opportunities: India- UAE Start-Up Ecosystem Convergence” was also launched during the summit.
The session included a presentation on the Bharat Mart which is a proposed warehousing facility by India in the UAE to support Indian exporters.
India-UAE trade rose to USD 85 billion in 2022, making the UAE India’s third-largest trading partner for the year 2022-23 and India’s second-largest export destination.
In February 2022, India became the first country with which the UAE signed a Comprehensive Economic Partnership Agreement (CEPA).
Bilateral trade has increased by approximately 15% since the entry into force of the CEPA on 1 May 2022.
The CEPA was a landmark agreement designed to spark a new era of cooperation between two nations and strengthening the long-standing cultural, political and economic ties.
It has helped reduce tariffs on more than 80% of product lines, eliminate barriers to trade and create new pathways for investment and joint ventures.
In the first 12 months of the CEPA, bilateral non-oil trade reached US$50.5 billion, representing a growth of 5.8% compared to the corresponding period a year earlier.
The two countries are fast moving towards the target of US$100 billion non-oil trade by 2030.
A Memorandum of Understanding for the establishment of a framework to promote the use of local currencies (INR-AED) for cross-border transactions was signed by Governors of the respective Central Banks of India and the UAE in July 2023.
Developing the Local Currency Settlement System between the two countries to settle bilateral trade reflects mutual confidence and underlines the robustness of the economies in both countries.

CURRENT AFFAIRS: STATE NEWS

National Youth Festival at Nashik in Maharashtra

Prime Minister Narendra Modi will inaugurate the 27th National Youth Festival at Nashik in Maharashtra.
He will also address the youth of the nation.
National Youth Day is celebrated every year to honour the ideals and thoughts of Swami Vivekananda.
This year, National Youth Day will be celebrated by all field organisations of the Department of Youth Affairs in districts in collaboration with multiple government departments.
Road safety awareness events will be conducted at major cities and 750 district headquarters of the country.
The theme of the National Youth Festival this year is “MYBharat-ViksitBharat@2047- By the Youth, For the Youth.”
During the celebration, various states will showcase cultural programmes of their diverse cultural heritage.

IndiGo Airlines launches direct flight between Ayodhya and Ahmedabad

Direct flight services from Ayodhya to Ahmedabad started on January 11,2024.
Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the direct flight of IndiGo Airlines from Ayodhya to Ahmedabad through Video conferencing.
On this occasion, the Chief Minister stated that this Maharshi Valmiki International Airport in Ayodhya will help in shaping the future of the youth of the region and will also benefit the economy in a major way.
He also thanked Prime Minister Narendra Modi, Union Civil Aviation Minister Jyotiraditya Scindia, and Indigo Airlines for this initiative and stated that with this facility of international airport, Ayodhya is going to shine on the tourist map of the world.
Flights from Ayodhya to cities like Mumbai, Ahmedabad and Bengaluru are going to start soon.

CURRENT AFFAIRS: BUSINESS NEWS

Direct Tax Collections Surpass 17 Lakh Crore in Current Fiscal, Marking 17% Growth Over Last Year

The Direct Tax collections have recorded over 17 lakh crore rupee in the current fiscal so far, which is about 17 per cent higher than the gross collections for the same period last year.
Finance Ministry said, this collection is over 80 percent of the total Budget estimates of Direct Taxes for 2023-24.
The growth rate for Corporate Income Tax is 8.32 percent and Personal Income Tax is over 26 percent.
The refunds amounting to two lakh 48 thousand crore rupees have been issued during the current fiscal so far.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Awami League President Sheikh Hasina to be sworn in as Prime Minister of Bangladesh

Awami League President Sheikh Hasina will be sworn in as Prime Minister of Bangladesh for the fourth straight term.
Bangladesh’s President will administer the oath to the new prime minister in Dhaka.
25 ministers and 11 state ministers are also likely to be sworn in this occassion.
Sheikh Hasina led her party to a thumping victory in the national elections on the 7th of January.
Cabinet Secretary announced the list of ministers and as per the list, 15 ministers of the last cabinet including some heavyweights like Finance Minister AHM Mustafa Kamal, Agriculture Minister Dr Abdur Razzak, Foreign Minister Dr AK Momen, and Commerce Minister Tipu Munshi have been dropped from the new cabinet.
The new faces in the cabinet include former commerce minister Lt Colonel (retd) Mohammad Farooq Khan and former foreign minister Abul Hassan Mahmood Ali.

Senthil Pandian C to be India’s next ambassador to WTO

India has recently appointed Senthil Pandian C as its Ambassador to the World Trade Organization (WTO), marking a significant development in the country’s representation on the global trade stage.
Senthil Pandian C, an experienced diplomat with a proven track record, is set to take charge at a crucial time when international trade dynamics are evolving rapidly.

Key Highlights:

In the dynamic landscape of global trade, India’s representation at the WTO holds paramount importance for various competitive exams, including those for government positions in teaching, police, banking, railways, defense, and civil services like PSCS to IAS.
Understanding the significance of this appointment is crucial for aspirants aiming to stay abreast of current affairs and demonstrate a comprehensive understanding of India’s role in the global economic scenario.
To comprehend the magnitude of Senthil Pandian C’s appointment, it’s essential to delve into the historical context of India’s involvement with the WTO.
India, as a founding member of the organization since its establishment in 1995, has actively participated in shaping global trade policies.
Over the years, India has been a vocal advocate for the interests of developing nations, emphasizing issues such as agricultural subsidies, intellectual property rights, and equitable trade practices.

Bhutan: Tshering Tobgay to be re-elected as Bhutan’s Prime Minister

The party of Bhutan’s former prime minister Tshering Tobgay won general elections with nearly two-thirds of seats in parliament.
Tobgay’s People’s Democratic Party (PDP) won the 2024 National Assembly general elections with 30 seats‘ ‘ while the Bhutan Tendrel Party (BTP) took the remaining 17, local media reported.

Key Highlights:

Tshering Tobgay is expected to become Bhutan’s PM for the second time.
He was leader of the opposition in Bhutan’s first parliament when it was established in 2008 after the start of the reign of the present king.
Tshering Tobgay, 58, a former civil servant and a conservation advocate holds a degree in mechanical engineering from the University of Pittsburgh and a master’s in public administration from Harvard.
He served as prime minister from 2013 to 2018.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India Post Payments Bank enter into MoU with Hindustan Zinc to offer financial inclusion services to its CSR beneficiaries

India Post Payments Bank (IPPB) & and Hindustan Zinc Limited (HZL – a subsidiary of Vedanta Group) join forces to pioneer inclusive financial solutions.
The collaboration will ensure in creating a lasting impact on the lives of community beneficiaries around Hindustan Zinc’s operational areas.
The MoU between IPPB & HZL was signed by Shri Gursharan Rai Bansal – Chief Sales & Marketing Officer, IPPB and Shri Arun Misra – CEO, of Hindustan Zinc Joining hands with Hindustan Zinc Ltd.

Key highlights

Providing financial inclusion services to its beneficiaries will help IPPB foray into the domain of serving population benefitted by the Corporate Social Responsibility (CSR) activities by prominent corporates in India.
This alliance with HZL marks a very important milestone for us to expand our ambit of doorstep banking service delivery to the unserved and underserved people in this country
The key services provided by the IPPB will ensure Financial Inclusion and ensure aid for opening bank accounts, access to pension products, long-term savings, and investment schemes.
It will further aid in providing support and Empowering 3.5 Lakhs+ beneficiaries covering SHG women, farmers, and youth to become Individual Business Correspondents for various IPPB services.
It will additionally promote government social welfare Schemes through the IPPB banking channels and assisting beneficiaries in availing income-generating loans through IPPB’s lending partners.
The MoU signing event was conducted in the presence of dignitaries from both India Post Payments Bank & Hindustan Zinc including, Shri Vishwanath Divya (AGM Marketing) & Ms Anupam Nidhi – Head CSR (HZL).

About India Post Payments Bank

India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India.
The IPPB was launched on September 1, 2018.
The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.
The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

About Hindustan Zinc

Hindustan Zinc, a Vedanta Group company in Zinc-Lead and Silver business is world’s 2nd largest integrated Zinc producer and 5th largest Silver producer.
The company governs about 80% of the growing Zinc market in India with its headquarters at Udaipur along with Zinc-Lead mines and smelting complexes spread across the state of Rajasthan.

CURRENT AFFAIRS: DEFENCE

Indian Navy receives first UAV from Adani Defence and Aerospace, strengthening maritime surveillance

The Navy received the first medium altitude long endurance (MALE) drone made in India by Adani Defence & Aerospace (ADA) in collaboration with Israeli firm Elbit.
Named Drishti 10 Starliner, the UAV was handed over by ADA at a flag-off ceremony led by the chief of naval staff, Admiral R Hari Kumar, at the Adani Aerospace.
The UAV is based on the Hermes 900 platform of Elbit and has been 70% indigenised by ADA following a technology transfer from Adani Elbit Advanced Systems India Ltd, a joint venture between Adani Group and Elbit.
While ADA has already exported 20 of these UAVs to Israel, it has bagged an order for two UAVs each from the Indian Navy and Indian Army.
The drone, which is an advanced intelligence, surveillance and reconnaissance (ISR) platform with a 36-hour endurance and a payload capacity of 450 kg, will be sent to Porbandar where it will be inducted into naval maritime operations.
The all-weather military platform, with NATO’s STANAG 4671 (standardised agreement 4671) certification for airworthiness, is cleared to fly in both segregated and unsegregated airspace, ADA stated.
Terming Drishti 10 Starliner as India’s third eye in the sky and a key step towards an ‘atmanirbhar’ Navy, Admiral Hari Kumar stated though the UAV will be stationed at Porbandar, it can be operated and launched from anywhere in India as its ground stations can be shifted.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

IISc Bengaluru comes up with warm vaccine against current strains of SARS-CoV-2

Researchers at the Indian Institute of Science (IISc) have created a COVID-19 vaccine that can remain stable in high temperatures, and is reportedly capable of combating all existing strains of SARS-CoV-2.

Key Highlights:

The vaccine, called RS2, a hybrid synthetic antigen, is made using two key parts of the SARS-CoV-2’s spike protein – the S2 subunit and the Receptor Binding Domain (RBD).
According to IISC, the vaccine is capable of preventing infection against all four current COVID variants of concern, Alpha, Beta, Gamma and Delta, and their existing subvariants.
The developers claim that it can be easily modified for any future variants.
It can also be stored at 37⁰ Celsius for a month without the need for cold storage
Trials show it can withstand limited exposure to temperatures as high as 100⁰ Celsius

Why it matters:

While there are already several COVID vaccines in the market (including those developed in India), that have to be typically stored and transported in temperatures between 2^o to 8^oCelsius or they become unstable and potentially ineffective.

CURRENT AFFAIRS: SPORTS NEWS

India wins its first Gold medal at Zagreb Open 2024 Wrestling Tournament in Croatia

Reigning Asian champion Aman Sehrawat won the Gold medal in Men’s 57kg at the Zagreb Open 2024 Wrestling Tournament in Croatia.
He defeated China’s Zou Wanhao via technical superiority in the 57kg final yesterday, to win India’s first medal in this edition of the Ranking Series.
Deepak Punia, competing in the men’s 86kg category, lost by 6-2 against Kazakhstan’s Azamat Dauletbekov in the qualification round.
Meanwhile, another Indian wrestler Yash Tushir was defeated by USA’s Quincy by 15-4 in the round of 16 of the men’s 74kg category.
Nonetheless, the competition will feature Freestyle wrestlers Vicky and Sumit competing in the men’s 97kg and 125kg weight classes, respectively.

India on top of medals table in Asian Shooting Championship in Jakarta with 07 Gold, 06 Silver, and 06 Bronze medals

Media_SAIIn Women’s shooting, Rhythm Sangwan bagged the Bronze medal in the 25-meter Pistol event at the Asian Shooting Championship in Jakarta, Indonesia.
With this medal, Rhythm confirmed the 16th Paris Olympic quota for the Indian shooting contingent.
Also, this is the sixth Paris quota in the pistol events for India and the second in women’s 25m Pistol.
Rhythm ended the tournament with an impressive performance collecting a total of five medals, 1 gold, 2 silver, and 2 bronze medals.
Earlier in the tournament, Varun Tomar and Esha Singh won the 14th and 15th quota for the Indian team in the 10m air pistol men and women respectively.

Key Highlights

Till now, India has won a total of 16 quotas in shooting, surpassing the 15 quotas won for the 2020 Tokyo Olympics.
Earlier, Nancy Mandhotra won the Women’s 10-meter Air rifle Gold with a junior Asian record of 252.8 points. While her compatriot and former world Number 1, Elavenil Valarivan secured the Silver, trailing by 0.1 points.
In Junior Women’s Air rifle, Isha Taksale, Khyaty Choudhary, and Anvii Rathod swept the podium respectively.
In Junior Men’s Air rifle, Pan Bowen of China won the Gold ahead of India’s Abhinav Shaw and Parth Mane, while in the Men’s category, World champion Rudrankksh Patil was pushed to the bronze medal.
India is on top of the medals table with seven Gold, six Silver, and six Bronze medals followed by China with four Gold, two Silver, and three

CURRENT AFFAIRS: IMPORTANT DAYS

National Youth Day: 12th January

National Youth Day 2024 is observed on the 12th January 2024.
On January 12, 1984, the Indian government declared Swami Vivekananda’s birthday as National Youth Day for the first time.
Since then, the day is celebrated nationwide as National Youth Day.
The government’s primary motivation for making the decision was to improve the quality of life for the people of the country by urging young people to draw inspiration from Swami Vivekananda’s life and accomplishments to revive youngsters’ enduring vitality and boost the economy of the country.

Daily CA One- Liner: January 12

Prime Minister Narendra Modi will inaugurate and lay the foundation stone of multiple development projects worth over 30,500 crore rupees in Maharashtra.
The Direct Tax collections have recorded over 17 lakh crore rupee in the current fiscal so far, which is about 17 per cent higher than the gross collections for the same period last year
Prime Minister Narendra Modi will inaugurate the 27th National Youth Festival at Nashik in Maharashtra.
Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the direct flight of IndiGo Airlines from Ayodhya to Ahmedabad through Video conferencing.
Awami League President Sheikh Hasina will be sworn in as Prime Minister of Bangladesh for the fourth straight term.
India has recently appointed Senthil Pandian C as its Ambassador to the World Trade Organization (WTO), marking a significant development in the country’s representation on the global trade stage.

The party of Bhutan’s former prime minister Tshering Tobgay won general elections with nearly two-thirds of seats in parliament.
The slaughter and sale of dogs for their meat is to become illegal in South Korea after MPs backed a new law.
The India-UAE Business Summit was held on 10th January 2024 to strengthen bilateral ties between India and the United Arab Emirates (UAE) as part of the Vibrant Gujarat Global Summit 2024.
Researchers at the Indian Institute of Science (IISc) have created a COVID-19 vaccine that can remain stable in high temperatures, and is reportedly capable of combating all existing strains of SARS-CoV-2.
The Navy received the first medium altitude long endurance (MALE) drone made in India by Adani Defence & Aerospace (ADA) in collaboration with Israeli firm Elbit.
India Post Payments Bank (IPPB) & and Hindustan Zinc Limited (HZL – a subsidiary of Vedanta Group) join forces to pioneer inclusive financial solutions
Reigning Asian champion Aman Sehrawat won the Gold medal in Men’s 57kg at the Zagreb Open 2024 Wrestling Tournament in Croatia
Media_SAIIn Women’s shooting, Rhythm Sangwan bagged the Bronze medal in the 25-meter Pistol event at the Asian Shooting Championship in Jakarta, Indonesia
National Youth Day 2024 is observed on the 12th January 2024.

Daily Current Affairs January 12 2024 | Latest News | Download PDF