Daily Current Affairs 18th & 19th February, 2024

Daily Current Affairs 18 & 19 February 2024 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

First helicopter emergency medical service to be launched from U’khand
India’s first Helicopter Emergency Medical Service (HEMS) will be started from Uttarakhand, Civil Aviation Minister Jyotiraditya Scindia said.

• A helicopter will be stationed under the service at the All India Institute of Medical Sciences (AIIMS) from where it will be sent anywhere within a radius of 150 km to airlift anyone who has met with an accident to the medical facility.
• The HEMS is part of the government’s initiative to expand medical outreach and trauma care services using helicopters. This service aims to provide timely transportation for accident victims and patients from hilly terrains to AIIMS, ensuring they receive critical care during the ‘golden hour’ after an accident.

DoT unveils an unparalleled venture ‘Sangam: Digital Twin’ initiative
Department of Telecommunications (DoT) has unveiled the ‘Sangam: Digital Twin’ initiative, an unparalleled venture inviting Expressions of Interest (EoI) from industry pioneers, startups, MSMEs, academia, innovators and forward-thinkers.

• Sangam: Digital Twin is a PoC distributed in two stages to be conducted in one of the major cities of India. First stage is Exploratory for clarity of horizon and creative Exploration to unleash potential. 
• Second stage is for practical demonstration of specific use cases generating a future blueprint that may serve as a roadmap to scale and replicate successful strategies in future infrastructure projects through collaboration.
• The initiative comes in the backdrop of past decade’s breakthroughs in communication, computation and sensing in the era of techade striving for the vision 2047. India has witnessed advancements in computational technologies, platforms, services and high-speed connectivity.

Scheme to give loans upto Rs 20 lakh launched for informal micro enterprises
MSME Minister Narayan Rane unveiled a special initiative targeted at Informal Micro Enterprises (IMEs), exempted from GST obligations to secure interest-free loans up to Rs 20 lakhs through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), administered by the government. Termed the ‘Special Provision for Informal Micro Enterprises under Credit Guarantee Scheme,’ this program is designed to alleviate credit risk concerns and facilitate easier access to credit for micro and nano enterprises.

• Under this scheme, IMEs listed on the Udyam portal can avail of up to 85% guarantee coverage for unsecured loans of up to Rs 20 lakhs, as detailed in a circular issued by CGTMSE to its member lending institutions (MLIs) on February 14.
• The objective is to foster increased lending activity, meeting both the demand and supply sides of credit requirements for IMEs within the MSE sector.

Union Minister G Kishan Reddy lays foundation stone for Ramji Gond Memorial Freedom Fighters Museum,Hyderabad
Union Culture Minister G Kishan Reddy and State Panchayat Raj Minister D Anasuya-Sitakka laid the foundation stone for the Ramji Gond Memorial Freedom Fighters’ Museum in Hyderabad.

• Ramji Gond was a revolutionary leader who fought against the tyrannical rule of the British in Nirmal and against the Nizam and Razakars to safeguard the self-respect of tribals in Telangana.
• The Museum will take shape in an area of over 70 thousand square feet at a total cost of over 35 crore rupees with an amphitheatre and all state-of-the-art facilities. Komaram Bhim, Alluri Sitaramaraju and Birsa Munda life museums will also be set up as part of the museum complex.
• The Minister said the Centre is committed to the welfare of Tribals and to safeguarding their culture and traditions. He said it is a matter of pride for tribal people that a museum in the state capital named after Ramji Gond has been established.

FinMin releases Rs 66,745 cr loan to 28 states for capital investment in Apr-Jan
The Ministry of Finance has released loans worth Rs 66,745 crore to 28 states under the Scheme for ‘Special Assistance to States for Capital Investment’. In a written reply to Lok Sabha, Minister of State for Finance Pankaj Chaudhary said the scheme is aimed at boosting capital expenditure by states.

• Under the scheme, special assistance is being provided to the state governments in the form of a 50-year interest-free loan up to an overall sum of Rs 1.3 lakh crore during the financial year 2023-24.
• Between April 1, 2023, and February 1, 2024, Rs 66,745.21 crore has been released to 28 states under the Scheme for ‘Special Assistance to States for Investment’, Chaudhary said. In the 2022-23 fiscal, Rs 81,195.35 crore was released under the scheme.

45 crore Jan Dhan accounts have accumulated Rs 2.1 lakh crore so far, says Union Minister Anurag Thakur
Union Minister Anurag Thakur said 45 crore Jan Dhan accounts have accumulated 2.1 lakh crore rupees so far. Inaugurating the 2024 Annual Government and Institutional Business Meet of the Federal Bank in Delhi, Mr Thakur said the banking sector is today out of the clutches of debt and at an all-time high performance.

• The Minister asserted that the government came out with the Economic Offenders Bill, and is still fighting cases abroad to get all the offenders back to India. He said the gross Non-Performing Assets, NPA has reduced to 3.2 percent, and return on asset has seen a rise from 0.5 percent to 0.79 percent in 2023.
• The Minister ensured that Government will keep taking bold initiatives and is resolute to take India to the Top 3 economies in another 5 years and a developed country by 2047.

Centre constitutes Committee to draft guidelines to address the issue of pesky/promotional or unsolicited commercial calls received by the consumers
To address the issue of pesky/promotional or unsolicited commercial calls received by the consumers, the Department of Consumer Affairs, Government of India has constituted a Committee comprising of members from cellular industry, regulatory bodies such as Department of Telecommunication (DoT), Department of Financial Services(DFS), Ministry of Housing and Urban Affairs Reserve Bank of India, Insurance Regulatory and Development Authority (IRDA), Department of Telecommunication (DoT),Department of Financial Services(DFS), Telecom Regulatory Authority of India (TRAI), Cellular Operations Association of India (COAI), telemarketing companies, VCOs to draft the Guidelines.

• Under the Chairmanship of Shri Rohit Kumar Singh, Secretary, DoCA, the Department convened a meeting to discuss the issues related to pesky/promotional/unsolicited commercial calls.
• In the meeting, issues related to pesky/promotional/unsolicited commercial calls were discussed. It was observed that these calls not only violate the privacy of users but also the rights of the consumers. Most of such calls are from financial services sector followed by real estate. It was also pointed out that spam callers are now switching to internet call, especially using Whatsapp to lure customers into ponzi schemes, crypto investments and offer job opportunities.

Centre clears capital acquisition proposals worth over Rs 84,000 crore for Armed Forces, Indian Coast Guard
The Defence Acquisition Council (DAC) has cleared capital acquisition proposals worth 84,560 crore rupees to boost the capabilities of the Armed Forces and Indian Coast Guard. The meeting was held under the chairmanship of Raksha Mantri Rajnath Singh.

• The proposals include New generation anti-tank mines, Air Defence Tactical Control Radar, Heavy Weight Torpedoes, Medium Range Maritime Reconnaissance, and Flight Refueller Aircraft.
• Raksha Mantri said, the amendments in Defence Acquisition Procedure 2020 were also cleared to promote procurement of advanced technologies from Start-Ups and MSMEs. He said, these steps will provide the much-needed incentive to the start-ups and MSMEs and promote ‘Ease of Doing Business’ in the country.

EPFO contributions to cross ₹3 l cr in ’24-25
The Schemes managed by the Employees’ Provident Fund Organisation (EPFO) are expected to receive about ₹3 lakh crore in total contributions in 2024-25, around 8% more from this fiscal year and almost two-and-a-half times higher compared with the pre-Pandemic 2919-20.

• The expected increase is attributed to strong economic growth, employment generation, formal job creation, rising wages, inflation, and the government’s vision to widen the social security net.

Maharashtra’s first ‘child-friendly police station’ inaugurated in Dhule
The firstever children friendly police station was inaugurated in Dhule district of Maharashtra.

• Set up at Azadnagar Police Station in Dhule city, it was conceptualised by district collector Abhinav Goyal and District Women and Child Development Officer Rajendra Birari.
• In order to provide a safe and fun environment for children while coming to the police station premises, the walls of a room on the ground floor of Azadnagar Police Station have been painted with children-friendly pictures.

11th International Puppet Festival kicked off in Chandigarh
The 11th International Puppet Festival was kicked off at Tagore Theatre in Chandigarh. Punjab Governor and Administrator of Union Territory Chandigarh, Banwarilal Purohit, accompanied by Adviser to the Administrator Rajeev Verma and other senior officers inaugurated the show.

• The festival started with a mesmerizing performance by the Novosibirsk Regional Puppet Theatre from Russia, presenting the renowned puppet show “Petrushka.”
• The visitors will also have the opportunity to explore a Puppet Exhibition at Tagore Theatre. The exhibition has featured live demonstrations of puppet making, offering a deeper understanding of the intricate craft behind these captivating creations.

Andhra Pradesh govt signs MoU with e-learning platform edX to offer higher education courses to youth
The Andhra Pradesh government signed an agreement with edX, a global e-learning platform which offers Massive Open Online Courses (MOOCs), to enable students from the state to pursue courses for free. The agreement was signed in the presence of Chief Minister Y S Jagan Mohan Reddy at his camp office.

• The agreement paves the way for more than 12 lakh students to pursue 2,000-plus edX online courses offered by the world’s top-notch universities and other educational institutions, free of cost along with their regular courses.Teachers drawn from some of the world’s top universities and institutions would impart lessons to students.
• Besides, the students who could not afford to study at top colleges would now have the chance to easily learn courses designed by universities such as Harvard, MIT, Oxford, Cambridge, UC Berkeley and the London School of Economics. These universities would conduct online exams and issue certificates, and the credits offered by them would become a part of the curriculum.

Department of Fisheries signs MoU with ONDC to promote digital marketing of fishes and other aquatic produce
The Department of Fisheries has signed a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) to promote digital marketing of fishes and other aquatic produce.

• The MoU was signed in presence of Minister of Fisheries, Animal Husbandry and Dairying, Parshottam Rupala, and Minister of State for Fisheries and L. Murugan in New Delhi.
• Mr. Rupala said that this will enable customers to directly buy from fish farmers online and digitize the fishery industry. He added that it will boost domestic consumption and increase the role of small farmers in the industry.

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INTERNATIONAL NEWS

India, UAE conclude 7 pacts including BIT & IGA on IMEC
India and the United Arab Emirates (UAE) concluded seven agreements, including a bilateral investment treaty (BIT), International Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEC), and memorandum of understanding (MoU) on port infrastructure development, power trade, linking digital payment platforms like UPI, credit and debit cards, among others.

• The pacts were signed during Prime Minister Narendra Modi’s official two-day visit to the UAE, following delegation-level talks with President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.
• This was Modi’s seventh trip to the Gulf state, on which occasion he also inaugrated the BAPS Swaminarayan temple in Abu Dhabi, the first Hindu temple in the UAE. It is an indication of strong bilateral trust and cooperation between the two countries whose economic growth and trade diversification targets have become increasingly aligned in recent years.
• India and the UAE have in place a Comprehensive Economic Partnership Agreement (CEPA) since 2022, which boosted their bilateral trade to US$85 billion for FY 2023.A Bharat Mart will be created at Jebel Ali, a large commercial port and business hub on the southern outskirts of Dubai, and will support Indian micro, small, and medium enterprises (MSMEs) by enabling their products to reach international buyers across the Middle East, Africa, and Eurasia.

India, Colombia sign MoU on Cooperation in the field of Sharing Successful Digital Solutions Implemented at Population Scale for Digital Transformation
India and Colombia have signed a Memorandum of Understanding(MoU) on Cooperation in the field of Sharing Successful Digital Solutions Implemented at Population Scale for Digital Transformation. It was signed between the Ministry of Electronics and Information Technology and the Information Technologies and Communications of Colombia.

• Ministry of Electronics and IT said in a statement that both sides discussed the importance of Digital Public Infrastructures. These infrastructures constitute a set of shared digital systems that are secure and interoperable. They can be built on open standards to deliver and provide equitable access to public and private services.
• India Stack Solutions are M DPIs developed and implemented by India at population scale to provide access and delivery of public services.

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BUSINESS & ECONOMY

Unemployment rate declines to 6.5% in Q3FY24; female labour force participation rises to 25%: MoSPI
The unemployment rate in urban areas decreased to 6.5 per cent in the third quarter (October–December 2023) for persons aged 15 years and above. It was 7.2 per cent in the same period last year.

• The unemployment rate for females also came down from 9.6 per cent last year to 8.6 per cent in Q3 this year, the Ministry of Statistics and Programme Implementation (MoSPI) said in a statement.
• The ministry further said that the labour force participation rate (LFPR) in urban areas has shown an increasing trend from 48.2 per cent in Q3 of 2022 to 49.9 per cent in Q3 of 2023. In the same period, the female labour force participation rate rose from 22.3 per cent to 25 per cent, reflecting the overall increasing trend in LFPR.
• As per the data, an increasing trend was noted in the worker-population ratio (WPR). The WPR in urban areas increased from 44.7 percent in October – December 2022 to 46.6 per cent in October – December 2023 for persons aged 15 years in above. For males, it increased from 68.6 per cent to 69.8 per cent during this period and for females, it increased from 20.2 per cent to 22.9 per cent.

India expected to grow faster at 6.2% in FY25: OECD
The Organization for Economic Co-operation and Development (OECD), in its latest interim economic outlook released, raised India’s growth outlook for 2024-25 (FY25) to 6.2 per cent from the 6.1 per cent estimated earlier in its November outlook.

• The emerging-market (EM) economies have generally continued to grow at a solid pace, despite tighter financial conditions, reflecting the benefits of improved macroeconomic policy frameworks, strong investment in infrastructure in many countries, including India, and steady employment gains.
• For 2025-26, OECD has kept its growth forecast for India unchanged at 6.5 per cent. The outlook notes that high-frequency activity indicators generally suggest a continuation of recent moderate growth, with business surveys pointing to stronger activity developments in services than in manufacturing.

Tata, Uber aim for strategic alliance to drive digital business
The Tata Group is in discussions with Uber Technologies to explore a strategic alliance aimed at boosting traffic volumes and engagement on Tata’s digital platform. The collaboration may involve integrating Uber’s services as an ‘anchor app’ within the Tata Neu ecosystem.

• Despite its positioning as a ‘super app,’ Tata Neu has faced challenges such as stagnant user growth and low customer engagement. The platform now aims to cater to 50 per cent of an average customer’s daily needs, spanning groceries, medicines, fashion, food, travel, and utility payments.
• After receiving customer complaints, Tata Digital has revised its strategy to improve app performance and user satisfaction. It is unclear how successful this has been in boosting engagement on the platform.

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SPORTS

India drop 15 places to 117th in FIFA rankings, worst in seven years
The Indian football team dropped 15 places to 117th in the FIFA rankings, the worst in seven years, after the recent debacle in the AFC Asian Cup, where it lost all its three group matches.

• This was India’s worst ranking after it was placed at 129th spot in January 2017 chart. The historical worst ranking, though, was 173 in 2015.The Indian team was placed at 102nd in the last FIFA rankings, issued on December 21, 2023.
• India also lost 35.63 rating points from the previous total. It now lies in between Togo (116th) and Guinea-Bissau (118th). The country is ranked 22nd among the Asian nations.
• There was no change in the top-10 with world champion Argentina still leading the pack.France, England, Belgium and Brazil follow Argentina in that order.
• Asian Cup champions Qatar rose 21 places to 37th, though Japan, which dropped one spot to 18th, still leads the continental rankings.

100-year-old diver performs dive at the 2024 World Championships
Taghi Askar, a 100-year-old diver from the Islamic Republic of Iran, made waves at the Diving World Championships in Doha as he wiped away tears of gratitude and emotion for the overwhelming support he received.

• Despite his age, Askar took the plunge from the 1m platform, showcasing his passion for diving and promoting the upcoming World Aquatics Masters Championships at the Hamad Aquatics Centre.
• Having claimed silver and bronze medals at the inaugural Asian Games in New Delhi in 1951, it has been an astonishing 73 years since Askar first tasted success in the world of diving. His career, spanning nearly six decades, came to an end 59 years ago, leaving the sport on a triumphant note with a gold medal at the national level.

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APPOINTMENTS

Indian Chamber of Commerce appoints Sharad Bhandari as UAE chief representative
The Indian Chamber of Commerce (ICC) has appointed Finance professional Sharad Bhandari as its Chief Representative for the United Arab Emirates (UAE), in a bid to its strategic move to enhance economic ties.

• The ICC’s expansion in the UAE aims to foster stronger economic collaboration between India and the UAE. With Mr. Bhandari’s leadership, ICC anticipates achieving innovative growth and shared prosperity.
• The Comprehensive Economic Partnership Agreement and robust economic ties set the stage for significant bilateral trade growth in the coming years.

Prabowo Subianto elected as new president of Indonesia
Indonesian Defence Minister Prabowo Subianto has declared victory in the presidential election after unofficial vote counts showed him with a significant lead over his rivals.

• The 72-year-old former special forces commander, who had run unsuccessfully for president twice before, had about 58 percent of the votes, according to four pollsters, based on “quick count” ballots at samples of voting stations nationwide. The number of ballots tallied ranged from about 86 to 95 percent.
• Rivals Anies Baswedan and Ganjar Pranowo trailed with about 25 percent and 17 percent, respectively, according to the independent pollsters conducting the counts, which have provided an accurate picture of the results of previous presidential elections held in the country since it began direct voting for the president in 2004.

Lt. Gen. Dwivedi Assumes Command from Lt. Gen. Suchindra Kumar in Indian Army Shift
Lieutenant General Upendra Dwivedi assumed the charge as the Vice Chief of the Indian Army. He took charge from Lieutenant General MV Suchindra Kumar who has been appointed as General-Officer-Commanding of the Northern Command.

• Lieutenant General Dwivedi laid wreath at the National War Memorial and was accorded Guard of Honour at the South Block Lawns.
• Prior to taking over as the Vice Chief of the Army Staff, he was tenanting the appointment of General Officer Commanding-in-Chief, Northern Command from 2022 to 2024 in extremely challenging operational environment.

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AWARDS

South Indian Bank gets Best Technology Bank of the year award
South Indian Bank has been honoured with the title of Best Technology Bank of the Year Award at the 19th IBA Annual Banking Technology Conference, Expo, & Citations.The awards were presented to PR Seshadri, MD & CEO of South Indian Bank, by T Rabi Sankar, Deputy Governor of the Reserve Bank of India, in Mumbai.

• The bank’s outstanding performance was recognised with a total of six prestigious awards. In three categories, the bank emerged as the winner, secured the runner-up position in one, and received special mentions in two others.
• The IBA Annual Banking Technology Conference, Expo & Citations has been an annual event since its inception in 2005. Instituted by the Indian Banks’ Association (IBA), it recognises organisations that have brought in transformational changes in their businesses by adopting modern digital solutions.

Gulzar, Sanskrit scholar Rambhadracharya selected for 58th Jnanpith Award
Renowned Urdu poet Gulzar and Sanskrit scholar Jagadguru Rambhadracharya will receive the 58th Jnanpith Award.

• Gulzar is known for his works in Hindi cinema and is considered one of the finest Urdu poets of this era. Jagadguru Rambhadracharya is the founder and chief of Tulsi Peeth in Chitrakoot, and is a renowned Hindu spiritual leader, educator and writer of more than 240 books and texts.
• The recipients for the award were decided by a selection committee chaired by Jnanpith awardee Pratibha Rai. Established in 1944, the prestigious Jnanpith Award is given annually for outstanding contributions to Indian literature.

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SCIENCE & TECHNOLOGY

ISRO successfully launches next generation weather satellite INSAT-3DS from Sriharikota
The Indian Space Research organisation(ISRO) launched GSLV F14 at from the second launch pad at the Sathish Dhawan Space Centre Sriharikota. Based on the confirmation from all the control centres, the automatic launch sequence was initiated. The INSAT 3DS has been injected into the destined path at around 20 minutes after the lift-off. All three stages including the cryogenic stage performance were normal as expected.

• The 51-metre-tall rocket carrying the weather satellite INSAT 3DS took off with a majestic roar from the Space Centre witnessed by thousands of onlookers  at the visitors gallery and scientists at the control centre.
• The INSAT-3DS satellite is a follow-on mission of the third generation meteorological satellite from geostationary orbit. The satellite is an exclusive mission designed for enhanced meteorological observations, monitoring of land and ocean surfaces for weather forecasting, and disaster warning.
• The INSAT-3DS satellite will augment meteorological services along with the presently operational INSAT-3D and INSAT-3DR in-orbit satellites.

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OBITUARIES

Jain seer Acharya Vidhyasagar Maharaj passes away
Renowned Jain seer Acharya Vidyasagar Maharaj passed away at Chandragiri Teerth in Chhattisgarh’s Dongargarh after undertaking ‘sallekhna’. He was 77.

• Sallekhna is a Jain religious practice involving voluntary fasting unto death for spiritual purification. According to an official statement by teerth, “Acharya Vidyasagar Maharaj attained Samadhi through ‘Sallekhna’ at Chandragiri teerth.

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