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CURRENT AFFAIRS: BANKING & FINANCE

 RBI Economists Propose New Criteria to Evaluate Borrower Creditworthiness

• In a bid to fortify the stability of the financial system, policy researchers are advocating for the inclusion of a new parameter, the Debt-to-Income (DTI) ratio, when evaluating the creditworthiness of individuals seeking retail loans.

Aim :

• To prevent potential adverse impacts on the overall system, according to a research paper released by economists at the Reserve Bank of India (RBI).

Key Highlights :

Utilization of Technology: Policymakers urge lenders to leverage emerging technology ecosystems like account aggregators to obtain necessary borrower consent, enhance credit underwriting, and improve model monitoring.

Flexibility for Borrowers: Implementation of such frameworks not only offers borrowers greater flexibility in terms of product and pricing choices but also enables comprehensive monitoring of borrower leverage.

Macroprudential Tools: Researchers argue that incorporating DTI limits alongside existing Loan-to-Value (LTV) ratio restrictions can serve as effective macroprudential tools to manage systemic risks within the lending landscape.

Mitigating Systemic Risks: Synchronization of these tools is deemed crucial for effectively mitigating systemic risks in the lending sector, as emphasized in the RBI economists’ research paper.

Differential Risk Weights: The paper proposes the adoption of varying risk weights for different retail product classes, reflecting their respective levels of riskiness.

Recent News :

• In Dec 2023, the Reserve Bank of India released the Report on Trend and Progress of Banking in India 2022-23, a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Bank of Baroda’s subsidiary was renamed as ‘BOBCARD Limited’ with the slogan ‘Redefining Credit’

• Bank of Baroda’s wholly-owned subsidiary for cards, ‘BOB Financial Solutions Limited’, has been rebranded as ‘BOBCARD Limited’ with the tagline “Credit Reimagined”.
• Accordingly, the NBFC has also unveiled a new logo called ‘Baroda Sun’, which comprises dual ‘B’ letterforms that hold the rays of the rising sun.

Key Highlights :

• The rebranding embodies “revitalised commitment to reimagine the country’s credit landscape with excellent credit solutions and customer-centric offerings.
• It aims to offer customer-centric, solution-driven assistance that assures service through innovation.
• 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 corporations 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.
• It is also the merchant payment processing partner of Bank of Baroda’s merchant acquiring business.
• As per the latest RBI data, the NBFC had 22.4 lakh outstanding credit cards in force as of December 2023.
• MD & CEO of Bob Financial Solutions Limited : Shailendra Singh

About BoB :

• Established : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India’s International Bank

RBI Releases Guidelines for the Appointment and Re-appointment of Statutory Auditors for State and Central cooperative Banks

• The Reserve Bank of India (RBI) has issued guidelines for appointing and re-appointing auditors for state and central cooperative banks.
• These guidelines are applicable for accounting periods commencing on or after April 1, 2024.
• The Banking Regulation (Amendment) Act, 2020 is now in effect for rural cooperative banks, i.e., state cooperative banks (SCBs) and central cooperative banks (CCBs), from April 1, 2021.

Key Highlights :

• RBI Circular Guidelines: Using powers under Section 30(1A) of the Banking Regulation Act, 1949, the RBI has issued guidelines, specified in the Circular’s Annex, for seeking approval on matters concerning the appointment, re-appointment, or removal of statutory auditors for SCBs and CCBs.

Approval Process :

• SCBs and CCBs must obtain prior approval from the Reserve Bank of India (RBI) for the appointment, re-appointment, or removal of Statutory Auditors (SAs).
• The guidelines outlined on the appointment, re-appointment, or removal of Statutory Auditors (SAs) are applicable to State Co-operative Banks (SCBs) and Central Co-operative Banks (CCBs).
• National Bank for Agriculture and Rural Development (NABARD) is responsible for obtaining an annual list of audit firms (partnership firms or limited liability partnerships) from the Institute of Chartered Accountants of India (ICAI).
• NABARD applies eligibility criteria for statutory auditors (SAs) and creates an all-India state-wise list of eligible audit firms.
• Banks are required to choose the audit firm(s) from this list, secure necessary approvals from the Board of Directors (Board) and Audit Committee of the Board (ACB) and submit the application for prior approval to the Department of Supervision, RBI, before July 31 of the reference financial year.
• For the appointment of fresh statutory auditors (SAs), banks should choose audit firms from NABARD’s list.
• Concurrent auditors of the bank shall not be considered for appointment as SA of the same bank.
• There shall be a minimum gap of one year between the completion of one assignment and commencement of the other assignment.

Eligibility and Tenure :

• SAs shall be appointed at a time for a period of one year only and shall be reappointed annually for the succeeding two years subject to them continuing to satisfy eligibility norms stated in these guidelines.
• During such period, premature removal of the SA shall require prior approval of However, any such request for removal shall be forwarded to RBI with the approval of the Board / ACB.

Restrictions on Re-appointment :

• An auditor/audit firm shall not be eligible for appointment / re-appointment in the same bank for six years (two tenures) immediately after completion of a full or part tenure.
• In case an auditor / audit firm has conducted an audit of the bank for part-tenure (one year or two years) and then is not re-appointed for the remainder tenure, it shall not be eligible for re-appointment in the same bank for six years after completion of part-tenure.
• An audit firm can concurrently take up statutory audit of a maximum of five banks (including not more than one StCB) in a year.
• The limit of five banks will be in addition to the limit of 20 Regulated Entities (REs), as prescribed in the ‘Guidelines for Appointment of Statutory Central Auditors (SCAs) / Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)’ dated April 27, 2021.
• In other words, an audit firm can concurrently take up statutory audit of a maximum of four Commercial Banks [including not more than one PSB or one All India Financial Institution (NABARD, SIDBI, NaBFID, NHB, EXIM Bank) or RBI], eight Urban Co-operative Banks (UCBs), eight Non-Banking Financial Companies (NBFCs), and five StCBs / CCBs (including not more than one StCB) in a year.

State Bank of India Lifts ‘Fraud’ Designation on Religare Finvest Following Delhi High Court Directive

• The State Bank of India (SBI) has eliminated the ‘fraud’ designation on Religare Finvest Ltd (RFL), previously recorded in the Central Fraud Registry database, following a directive from the Delhi High Court.
• The removal of the fraud label on RFL follows a December 18, 2023 order from the Delhi High Court, which overturned the declaration of RFL as a fraud by the lead bank,

Key Highlights :

• Central Fraud Registry: The Central Fraud Registry, established by the RBI in 2016, maintains records of frauds reported by commercial banks and select financial institutions, as per the RBI’s Master Directions on fraud classification and reporting.
• Corrective Action Plan (CAP): RFL has been subjected to a Corrective Action Plan imposed by the RBI since January 2018, following reports of large-scale fund diversion from Religare Enterprises Ltd (REL) and RFL.
• Financial Status of RFL: RFL, a wholly-owned subsidiary of Religare Enterprises Limited, has experienced financial losses since 2017, accumulating losses amounting to Rs 2,270 crore as of March 2022.
• Siphoning of Funds: The RBI initiated the Corrective Action Plan on RFL in 2018 due to reports of significant fund diversion from REL and RFL. RFL owed Rs 5,300 crore to a consortium of lenders led by SBI.
• Revival Efforts: The removal of the ‘fraud’ designation signifies the efforts of RFL’s board, management, and employees to restore the company and the group following fraudulent activities by previous promoters, marking a significant step in RFL’s revival.

Recent News :

• In March,2023 RFL completed a one-time settlement with 16 lenders through organic collections and paid more than Rs 9,000 crore to the banking system.
• Executive Chairperson, REL & CMD RFL : Rashmi Saluja

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti

General Insurance Council Collaborates with Insurance Companies to Launch ‘Cashless Everywhere’ Initiative across all hospitals in India

• The General Insurance Council (GIC) in consultation with all the general and health Insurance companies have announced the “Cashless Everywhere” initiative.
• Currently the cashless facility is available only at hospitals where the respective insurance company has an agreement or tie-ups.

Key Highlights :

• However, under the ‘Cashess Everywhere’ initiative, policyholders will be eligible to get treated in any hospital they choose, and a cashless facility will be made available even if the hospital is not in the network of the Insurance company.
• Announcing the launch of CE initiative, Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, and Chairman of the GIC pointed out that, only about 63% of customers opt for cashless claims while the others have to apply for reimbursement claims as they might be admitted to hospitals that are outside their Insurer/TPA network.

The ‘Cashless Everywhere’ is subject to the following criteria:

For elective procedures, the customer should intimate the Insurance Company at least 48 hours prior to admission.

For emergency treatment, the customer should intimate the Insurance Company within 48 hours of admission.

The claim should be admissible as per the terms of the policy and the cashless facility should be admissible as per the operating guidelines of the Insurance Company.

The 100% cashless system will be backed up by a technological platform with the aid of the National Health Authority.

The new system of cashless payment, apart from needing a technological platform, also needs a lot of standardisation of rates and services.

In the cashless system, insurance companies will pay only up to the amount taken as a sum assured in the policy.

For instance, if the sum assured is Rs 5 lakh, insurers will pay the hospital up to Rs 5 lakh during the year.

CURRENT AFFAIRS: NATIONAL NEWS

Air India ‘disagrees’ with regulator’s Rs 1.1 crore fine over safety violations

• The Indian civil aviation regulator Directorate Genera l of Civil Aviation has imposed a penalty of ₹1.1 crore on Air India for safety violations on certain flights.
• The airline has been fined for non-compliance of regulations and safety manuals in case of oxygen-related compliant requirements for operation of leased Boeing B777 aircraft.

About Air India

• Air India is the flag carrier airline of India.
• It is owned by Air India Limited, a Tata Group enterprise and operates a fleet of Airbus and Boeing aircraft.
• It is headquartered in Gurugram.
• CEO: Campbell Wilson.

IREDA Releases Vigilance Journal ‘Pahal’

• Indian Renewable Energy Development Agency (IREDA), a Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy, has unveiled ‘Pahal’- the insightful house journal of its Vigilance Department.
• The journal was unveiled by the Chairman & Managing Director of IREDA, Shri Pradip Kumar Das on January 25, 2024.
• Indian Renewable Energy Development Agency Limited is an Indian public sector enterprise that provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation.
• Founded: 1987

CURRENT AFFAIRS : STATE NEWS

Corning’s Joint Venture in India Plans to Establish a ₹1,003-Crore Factory in Tamil Nadu for Gorilla Glass Production

• Bharat Innovative Glass Technologies Private Limited, a joint venture firm between the US-based gorilla glass maker Corning International Corporation and Indian telecommunications company Optiemus Infracom, will be setting up a new factory near Chennai at an investment of ₹1,003 crore to manufacture front-cover glass products, meant for smartphones and electronic products.

Key Highlights :

• The company has signed an agreement with the Tamil Nadu government for the proposed project, indicating collaboration and support from the state.
• The manufacturing unit will be established at SICPOT-Pillaipakkam Industrial Estate in Kancheepuram district, Tamil Nadu.
• The project is expected to create employment opportunities for 840 people, contributing to local economic development.
• The project introduces precision glass-processing technology to India for the first time, showcasing advancements in manufacturing techniques.
• Tamil Nadu (TN) has also emerged as the top electronics exporter in the country as it achieved $5.37-billion exports in 2022-23, compared with $1.6-billion exports recorded in 2020-21.
• The Tamil Nadu government has introduced the “Tamil Nadu Semiconductor and Advanced Electronics Policy 2024″ to attract more investments and foster export growth in the electronics sector.

About Tamil Nadu :

• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Chenab River successfully diverted, paving way for accelerated construction & timely commissioning of Ratle Hydro Electric Project in Kishtwar

• A major milestone has been achieved at the 850 MW Ratle Hydro Electric Project in Jammu & Kashmir, with the diversion of Chenab River through diversion tunnels at Drabshalla in Kishtwar district.
• The river diversion is a critical step that enables the isolation of the dam area at the riverbed, paving the way for the commencement of crucial activities such as excavation and dam construction.
• This development is expected to accelerate project construction, minimizing delays and supporting the efforts to meet the scheduled commissioning date of May 2026.
• Ratle Hydroelectric Power Corporation Limited (RHPCL), a Joint Venture of NHPC Limited and the Government of J&K with a shareholding ratio of 51:49 per cent, is overseeing the Ratle Project.

Key Highlights:

• This hydroelectric project, situated on the Chenab River in Kishtwar District, boasts an installed capacity of 850 MW.
• The Cabinet Committee on Economic Affairs sanctioned the project in January 2021, allocating a total cost of Rs.5281.94 crores.
• New Delhi is supporting the Union Territory of Jammu and Kashmir with a grant of Rs.776.44 crore for JKSPDC’s equity contribution.
• NHPC will invest Rs.808.14 crore from its internal resources.
• The Ratle Hydro Electric Project is expected to be commissioned in May 2026 contributing to grid balancing and improving the power supply position.
• To enhance the project’s viability, the Government of the Union Territory of Jammu and Kashmir will provide exemptions from water usage charges for 10 years post-commissioning.
• The implementation of the Ratle Hydro Electric Project is poised to create direct and indirect employment for around 4000 individuals, contributing to the overall socio-economic development of the Union Territory.
• Furthermore, the Union Territory stands to benefit from free power worth Rs. 5289 crore and water usage charges amounting to Rs.9581 crore over the project’s 40-year life cycle.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Madhya Pradesh and Rajasthan states signed a Memorandum of Understanding (MoU) with the Government of India regarding the Modified Parbati-Kalisindh-Chambal-ERCP (PKC-ERCP) Link Project.

• The Government of India has achieved another milestone in the water management sector, particularly in the interlinking of rivers (ILR) program And this is a significant moment for the people of Rajasthan and Madhya Pradesh, as both states signed an MoU with the Ministry of Jal Shakti (MoJS), Government of India (GoI) in New Delhi.
• The MoU is for the implementation of the “Modified PKC-ERCP” which integrates the original PKC with the Eastern Rajasthan Canal Project of Rajasthan.
• This is the second project under the national perspective plan of the ILR program.
• The MoU was signed by Dr. Rajesh Kumar Rajora, ACS, WRD, Govt. of MP, Sh. Abhay Kumar, ACS, WRD, Govt. of Rajasthan and Smt. Debashree Mukherjee, Secretary, DoWR,RD&GR, MoJS, GoI on broad planning of the Parbati-Kalisindh-Chambal (PKC) link duly integrated with Eastern Rajasthan Canal Project (ERCP) and preparation of its DPR.
• The Union Minister of Jal Shakti, Sh. Gajendra Singh Shekhawat, Sh. Mohan Yadav, Hon’ble Chief Minister of Madhya Pradesh and Sh. Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan graced the occasion.
• Shriram Vedire, Chairman of the Task Force on Interlinking of Rivers and other officials of MoJS and states of Madhya Pradesh and Rajasthan were present on the occasion.
• The Feasibility Report (FR) of Parbati-Kalisindh-Chambal (PKC) link project under National Perspective Plan (NPP) was prepared and circulated to the concerned State Governments in February-2004.
• In the year 2019, Rajasthan came up with the proposal of ERCP. With a view to utilize the water resources optimally, the integration of the Parbati-Kalisindh-Chambal (PKC) link of NPP with Eastern Rajasthan Canal Project (ERCP) was discussed in 11th and 12th meetings of the Task Force for Interlinking of Rivers (TFILR) in year 2019.

Ministry of Rural Development and Lady Irwin College renews MoU

• Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM), Ministry of Rural Development (MoRD), and Lady Irwin College, University of Delhi, have renewed a Memorandum of Understanding (MoU).
• During the five-year term of MoU, MoRD will work with ROSHNI – Centre of Women Collectives led Social Action (CWCSA), to strengthen interventions for better results of Food, Nutrition, Health and WASH (FNHW) for rural communities.
• Director of Lady Irwin College is the Chairperson of ROSHNI-CWCSA.
• This initiative will enhance capacity building of community resource persons (CRP) for FNHW and gender interventions.”
• ROSHNI-CWCSA is supported by UNICEF India technically and financially
• ROSHNI assists DAY-NRLM to improve food, nutrition, health, and WASH (FNHW) outcomes for 9.96 crore Self Help Group (SHG) members and their households across the country.

CURRENT AFFAIRS : SCIENCE& TECHNOLOGY

INSAT-3DS satellite sent to launch port in Sriharikota

• India is set to enhance its meteorological monitoring capabilities with the launch of INSAT-3DS, an advanced weather satellite developed by the Indian Space Research Organisation (ISRO).
• Scheduled for a February liftoff aboard the GSLV-F14 rocket, this state-of-the-art satellite will play a pivotal role in weather forecasting and disaster management.
• The satellite has been sent to the Satish Dhawan Space Centreto be integrated with the rocket for a launch from Sriharikota.

About INSAT-3DS:

• INSAT-3DS is designed as a successor to the existing in-orbit satellites INSAT-3D and INSAT-3DR, aiming to provide uninterrupted services and significantly improve the overall capabilities of the INSAT system.
• INSAT stands for theIndian National Satellite System that provides various services, including telecommunications, broadcasting, meteorology, and search and rescue operations.
• The INSAT-3DS satellite was recently flagged off to the Satish Dhawan Space Centre (SDSC) SHAR in Sriharikota on January 25, following the successful completion of assembly, integration, and testing at the U R Rao Satellite Centre in
• This mission is a user-funded project in collaboration with the Ministry of Earth Science (MoES), and it showcases the substantial contributions made by Indian industries in its development.

WHAT WILL INSAT-3DS CARRY TO SPACE?

• Built around ISRO’s reliable I-2k bus platform, INSAT-3DS has a lift-off mass of 2,275 kg and is equipped with cutting-edge payloads for enhanced meteorological observation.
• The satellite’s sophisticated instruments include a 6-channel Imager and a 19-channel Sounder, which are meteorological payloads designed to monitor land and ocean surfaces.
• These tools will provide critical data for accurate weather forecasting and early warning systems for natural disasters, thereby bolstering India’s preparedness and response strategies.
• Additionally, INSAT-3DS carries communication payloads such as the Data Relay Transponder (DRT) and the Satellite Aided Search and Rescue (SAS&R) transponder.
• The DRT will receive data from automatic Data Collection Platforms and Automatic Weather Stations (AWS), enhancing the country’s weather forecasting capabilities.
• The SAS&R transponder is a vital component for global search and rescue operations, as it is designed to relay distress signals and alert detections from beacon transmitters.

CURRENT AFFAIRS : DEFENCE NEWS

5th Ammunition Cum Torpedo Cum Missile (ACTCM) barge yard 129 (LSAM 19) launched at Suryadipta Project Private Limited, thane

• The launch of ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 19 (Yard 129)’, 5th Barge of 11 x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Private Limited, Thane, Maharashtra for Indian Navy, was undertaken at M/s Suryadipta Project Pvt Ltd (Launch site of M/s SPPL).
• The launching Ceremony was presided over by Commodore V Pravin, AWPS(Mumbai, Maharashtra).
• The contract for building 11 X ACTCM Barge was signed between the Ministry of Defence (MoD) and M/s Suryadipta Projects Pvt Ltd, Thane on 05 Mar 2021.
• The availability of these Barges would provide impetus to operational commitments of IN by facilitating Transportation,
• Embarkation and Disembarkation of articles/ ammunition to IN Ships both alongside jetties and at outer harbours.
• These Barges are indigenously designed and built under relevant Naval Rules and Regulation of Indian Register of Shipping.
• The model testing of the Barge during the design stage was undertaken at Naval Science and Technological Laboratory, Visakhapatnam.
• These Barges are proud flag bearers of Make in India initiative of Government of India (GoI).

History :

• In 2021, The Indian Navy has signed a contract with Suryadipta Projects to construct 11 ammunition-cum-torpedo-cum-missile (ACTCM) barges with Suryadipta ProjectsPrivate Limited.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

Ministry of Defence Signs Rs 1070 Crore Contract with Mazagon Dock Shipbuilders Limited for 14 Fast Patrol Vessels for Indian Coast Guard

• The Ministry of Defence (MoD) signed a contract with Mazagon Dock Shipbuilders Limited (MDL) to acquire 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG).
• The value of the 14 Fast Patrol Vessels (FPVs) will be Rs 1,070 crore.
• These FPVs will be indigenously designed, developed and manufactured by MDL under the ‘Buy (Indian-IDDM)’ acquisition category.
• These FPVs will be delivered in 63 months.

Key Highlights :

• Along with several high tech advanced features and equipment, these FPVs will be equipped with multipurpose drones, wirelessly controlled remote water rescue craft lifebuoy and Artificial intelligence capability enabling greater flexibility and operational edge to the ICG to face new age multidimensional challenges.
• These modern FPVs will play a critical role in enhancing fisheries protection and monitoring, control and surveillance, anti-smuggling operations, search and rescue operations including in shallow waters, assistance to ship/crafts in distress, towing capabilities, assistance and monitoring during marine pollution response operations, anti-piracy operations.
• The acquisition of these FPVs is aimed to boost ICG’s capability and reinforces the increased focus of the government towards maritime security.

India, Saudi Arabia joint military exercise to begin from January 29-February 10

• The inaugural edition of Joint Military Exercise ‘SADA TANSEEQ’ between India and Saudi Arabia will be held from January 29 to February 10 in Rajasthan, the Indian Army stated on January 27.
• The exercise aims to enhance synergy, interoperability and jointmanship by learning and sharing best practices between the Armies of both nations.
• 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.

CURRENT AFFAIRS: SPORTS NEWS

ICC lifts suspension of Sri Lanka Cricket after two-months

• The International Cricket Council (ICC) has lifted the suspension of Sri Lanka Cricket with immediate effect.
• Sri Lanka Cricket has been reinstated as a member of the International Cricket Council after a two-month suspension.
• Sri Lanka Cricket was suspended for violation of responsibilities as an ICC Member, in particular, the requirement to manage its affairs autonomously and ensure that there is no government interference in the governance, regulation, and/or administration of cricket in Sri Lanka.

Divyansh Singh Panwar from India clinches gold medal in men’s air rifle event at the ISSF World Cup held in Cairo

• In air rifle shooting, Indian Olympian Divyasnsh Singh Panwar had struck gold in the men’s event with a world record score in the final while Sonam Uttam Maskar, competing in her first International Shooting Sport Federation (ISSF) World Cup, bagged silver in the women’s 10-metre event in Cairo.
• The 21-year-old shot 253.7 bettering Chinese Sheng Lihao’s 253.3, set at the Asian Games in Hangzhou last year.
• India is now firmly on the top of the table in the season-opening World Cup stage with two gold and three silver medals in their kitty after three days of competition.
• This was Divyansh’s fifth overall World Cup stage gold and second individual gold after his last effort came in Putian in 2019.

Rohan Bopanna has become the World No. 1 Doubles Player after his Australian Open Victory

• Indian Tennis star Rohan Bopanna for the first time climbed to World Number One position in the latest ATP Doubles Rankings released.
• Rohan Bopanna won his career’s first Men’s Doubles Grand Slam at the Australian Open to jump two places in the ATP Rankings.
• Bopanna’s Australian partner Matthew Ebden is the new World Number Two.
• 43-year old Bopanna is the oldest World Number One in Men’s Tennis.
• He is also the fourth Indian tennis player after Leander Paes, Mahesh Bhupathi and Sania Mirza to reach the top of the tennis rankings.
• All four are also the only Indian Grand Slam winners.

CURRENT AFFAIRS : OBITUARY

Rana Talwar, first Asian to head a global bank, passes away at 76

• Rana Talwar, the first person from Asia to head a global bank (Standard Chartered) passed away at the age of 76 after being unwell for some time.
• Talwar was a board member at DLF, having joined the realty major in 2006.

About Rana Talwar:

(1.) He began his career with Citibank India in 1969, swiftly ascending through the ranks to lead its retail businesses in Asia-Pacific, Middle East, Europe, and North America.

(2.) Then, in the summer of 1997, the St Stephens alumnus joined Standard Chartered, assuming the position of CEO after some months, becoming the first Asian to head an international bank.

(3.) There, he was instrumental in major acquisitions, including the Trade Finance business of UBS, Grindlays Bank in India and the Middle East from ANZ, and the Credit Card business from Chase Manhattan in Hong Kong.

(4.) After moving on from Standard Chartered in 2002, the veteran banker founded Sabre Capital, a private equity firm. Interestingly, ‘Sabre’ means a sword, which translates to ‘Talwar’ in Hindi.

Dr Nitya Anand, man who discovered India’s first oral contraceptive pill ‘Saheli’, dies at 99

• Dr Nitya Anand, who discovered India’s first oral contraceptive pill ‘Saheli’, passed away after a prolonged illness at SGPGIMS Lucknow. He was 99.
• Anand was also the former director of the Central Drug Research Institute (CDRI) from 1974 to 1984.
• He was with CDRI since its inception in 1951.
• He published over 400 research papers and over 130 patents and supervised 100 PhD students.
• He was the brain behind the discovery of Centchroman’, popularly known as ‘’
• It was the world’s first and only non-steroidal, non-hormonal, once-a-week oral contraceptive pill.
• It was launched by then Prime Minister Rajiv Gandhi in 1986.
• In 2016, Saheli was incorporated in the National Family Programme of India.
• Anand is a Padma Shri recipient who is survived by his daughter Dr. Sonia Nityanand, who serves as vice-chancellor of King George’s Medical University (KGMU), and sons Neeraj Nityanand and Dr. Naveen Nitya Anand

CURRENT AFFAIRS: IMPORTANT DAYS

Martyrs Day: 30th January

• Martyrs Day 2024 is observed on the 30th of January 2024.
• Gandhi promoted nonviolent protests throughout India’s struggle for independence and encouraged everyone to set an example.
• With the British, he negotiated several peace deals before issuing the ultimatum to leave.
• Gandhi undertook the nearly impossible task of creating a nation out of numerous provinces and territories as the Indian constitution was being ratified.
• Gandhi was vehemently opposed to the idea of partitioning India.
• Even after the Declaration of Independence, he held regular demonstrations to establish his resistance.
• Gandhi’s objection to the partition was met harshly by Hindu nationalists, who accused him of appeasing the Muslims.
• On the eve of January 30, Nathuram Vinayak Godse, a notorious Hindu nationalist, shot Gandhi three times at point-blank.
• Gandhi was shot in the chest, putting an end to his lifelong fight for nonviolence.
• On Martyrs’ Day, Indians from all over the world assemble to honor the memory of a great hero and recognize the pointless carnage brought on by violent extremism.

Daily CA One- Liner: January 30

• The Indian civil aviation regulator Directorate Genera l of Civil Aviation has imposed a penalty of ₹1.1 crore on Air India for safety violations on certain flights.
• Indian Renewable Energy Development Agency (IREDA), a Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy, has unveiled ‘Pahal’- the insightful house journal of its Vigilance Department.
• The Government of India has achieved another milestone in the water management sector, particularly in the interlinking of rivers (ILR) program And this is a significant moment for the people of Rajasthan and Madhya Pradesh, as both states signed an MoU with the Ministry of Jal Shakti (MoJS), Government of India (GoI) in New Delhi.
• Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM), Ministry of Rural Development (MoRD), and Lady Irwin College, University of Delhi, have renewed a Memorandum of Understanding.
• The International Cricket Council (ICC) has lifted the suspension of Sri Lanka Cricket with immediate effect.
• In air rifle shooting, Indian Olympian Divyasnsh Singh Panwar had struck gold in the men’s event with a world record score in the final while Sonam Uttam Maskar, competing in her first International Shooting Sport Federation (ISSF) World Cup, bagged silver in the women’s 10-metre event in
• Indian Tennis star Rohan Bopanna for the first time climbed to World Number One position in the latest ATP Doubles Rankings
• Martyrs Day 2024 is observed on the 30th of January 2024.
• In a bid to fortify the stability of the financial system, policy researchers are advocating for the inclusion of a new parameter, the Debt-to-Income (DTI) ratio, when evaluating the creditworthiness of individuals seeking retail loans. To prevent potential adverse impacts on the overall system, according to a research paper released by economists at the Reserve Bank of India (RBI).
• 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 Reserve Bank of India (RBI) has issued guidelines for appointing and re-appointing auditors for state and central cooperative banks. These guidelines are applicable for accounting periods commencing on or after April 1, 2024.
• The State Bank of India (SBI) has eliminated the ‘fraud’ designation on Religare Finvest Ltd (RFL), previously recorded in the Central Fraud Registry database, following a directive from the Delhi High Court.
• The General Insurance Council (GIC) in consultation with all the general and health Insurance companies have announced the “Cashless Everywhere” initiative.
• Bharat Innovative Glass Technologies Private Limited, a joint venture firm between the US-based gorilla glass maker Corning International Corporation and Indian telecommunications company Optiemus Infracom, will be setting up a new factory near Chennai at an investment of ₹1,003 crore to manufacture front-cover glass products, meant for smartphones and electronic products.
• A major milestone has been achieved at the 850 MW Ratle Hydro Electric Project in Jammu & Kashmir, with the diversion of Chenab River through diversion tunnels at Drabshalla in Kishtwar district.
• India is set to enhance its meteorological monitoring capabilities with the launch of INSAT-3DS, an advanced weather satellite developed by the Indian Space Research Organisation (ISRO).
• The launch of ‘Ammunition Cum Torpedo Cum Missile Barge, LSAM 19 (Yard 129)’, 5th Barge of 11 x ACTCM Barge Project, built by MSME Shipyard, M/s Suryadipta Projects Private Limited, Thane, Maharashtra for Indian Navy, was undertaken at M/s Suryadipta Project Pvt Ltd (Launch site of M/s SPPL).
• The Ministry of Defence (MoD) signed a contract with Mazagon Dock Shipbuilders Limited (MDL) to acquire 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard (ICG).
• The inaugural edition of Joint Military Exercise ‘SADA TANSEEQ’ between India and Saudi Arabia will be held from January 29 to February 10 in Rajasthan, the Indian Army stated on January 27.
• Rana Talwar, the first person from Asia to head a global bank (Standard Chartered) passed away at the age of 76 after being unwell for some time.
• Dr Nitya Anand, who discovered India’s first oral contraceptive pill ‘Saheli’, passed away after a prolonged illness at SGPGIMS Lucknow. He was 99.