Daily Current Affairs 8th February, 2024
Daily Current Affairs 8 February 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Union Minister Reddy lays foundation for country’s first Museum of Epigraphy in Hyderabad
Union Tourism and Culture Minister G Kishan Reddy laid the foundation for the country’s first National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
- Spearheaded by the Archaeological Survey of India (ASI), this museum will house approximately one lakh ancient writings spanning various times and languages.
- This initiative follows the announcement made last year by Union Finance Minister Nirmala Sitharaman regarding the establishment of the Bharat Shared Repository of Inscriptions (BharatSHRI), with the goal of digitizing one lakh ancient inscriptions.
CCEA approves six projects of Ministry of Railways with total estimated cost of Rs 12,343 crore
The Cabinet Committee on Economic Affairs (CCEA) approved six projects of the Ministry of Railways with a total estimated cost of 12,343 crore rupees. The decision was taken at a meeting of the CCEA chaired by Prime Minister Narendra Modi.
- As per the official statement, the six projects will be 100 per cent funded by the Central Government. The Government said the multi-tracking proposals will ease operations and reduce congestion which will provide the much-required infrastructural development on the busiest sections across Indian Railways.
- The 6 (Six) projects covering 18 Districts in 6 States, which include, Rajasthan, Assam, Telangana, Gujarat, Andhra Pradesh and Nagaland.
PM of Guyana, Mark Phillips visits New Delhi
Prime Minister of Guyana, Mark Phillips arrived in New Delhi on a six-day visit to India. He will meet President Droupadi Murmu and Vice President Jagdeep Dhankhar.
- The Vice President’s office said that discussion between the leaders underlined the connect between India and Guyana built on their rich cultural link and heritage, and the shared commitment of both nations towards sustainable development, green energy, and combating climate change.
Centre scraps Free Movement Regime between India and Myanmar to ensure internal security of country
Home Minister Amit Shah announced that his Ministry has decided to scrap the Free Movement Regime, FMR between India and Myanmar to ensure the internal security of the country and to maintain the demographic structure of North Eastern states bordering Myanmar.
- Mr Shah added that since the Ministry of External Affairs is currently in the process of scrapping it, the Home Ministry has recommended the immediate suspension of the FMR. He emphasised that it is Prime Minister Narendra Modi’s resolve to secure the nation’s borders.
Fiji’s Deputy PM Biman Prasad becomes first foreign leader to visit Ram Temple in Ayodhya
Fiji’s Deputy Prime Minister and Minister for Finance Professor Biman Prasad has become the first foreign leader to visit the Ram Temple in Ayodhya.
- Mr Prasad said that the temple of Shri Ram Lalla will further strengthen the relations between Fiji and India. He said that Fiji’s administration, justice and policy-making are also inspired by the life of Lord Ram. He also stated that there is a holiday in Fiji on the day of the Diwali festival.
Social Justice & Empowerment Minister inaugurates forty-one addiction treatment facilities
Union minister of social justice and empowerment, Dr Virendra Kumar, is set to virtually inaugurate 41 addiction treatment facilities (ATFs). The event will also witness the presence of ministers of state for social justice and empowerment.
- The initiative comes as part of the ministry’s ongoing efforts to address drug demand through the national action plan for drug demand reduction (NAPDDR).
- Under the NAPDDR, financial assistance is provided to state governments/union territories (UT) administrations for various initiatives, including preventive education, awareness generation, capacity building, skill development, vocational training, and livelihood support for ex-drug addicts.
PM inaugurates Integrated Sea Survival Training Centre, ONGC Institute
The Prime Minister, Shri Narendra Modi inaugurated the integrated Sea Survival Training Centre, ONGC Institute in Goa. Shri Modi also witnessed a briefing on underwater escape exercises and a demonstration of the training center.
- ONGC Sea Survival Centre has been developed as a one-of-a-kind Integrated Sea Survival Training Centre to advance the Indian sea survival training ecosystem to global standards.
- It is expected to train 10,000-15,000 personnel annually. Exercises in simulated and controlled harsh weather conditions enhance the Sea Survival skills of trainees and thus potentially increase the chances of safe escape from real-life disasters.
Union Minister Arjun Munda launches LMS, Krishi Rakshak Portal & helpline, SARTHI initiative under PMFBY
Union Agriculture and Farmers Welfare Minister Arjun Munda launched LMS, Krishi Rakshak Portal and helpline and SARTHI initiative under Prime Minister Fasal Bima Yojana, PMFBY in New Delhi. On the occasion, he said that through these initiatives insured farmers will be benefitted and their risk will be also reduced.
- The Minister said that the Krishi Rakshak Portal and Helpline is an integrated grievance redressal mechanism having a digital portal and a call centre has been developed to enable farmers to lodge their grievances, concerns and queries.
- The innovative SARTHI (Sandbox for Agricultural and Rural Security, Technology and Insurance) platform harnesses technology to provide a broad spectrum of insurance products, offering coverage for health, life, property, agriculture tools, motor assets and disaster risks.
Uttar Pradesh govt to equip ‘EV Upyog’ portal with multiple features
To promote the manufacture and use of electric vehicles (EVs) in Uttar Pradesh, the state government is enhancing its ‘EV Upyog’ portal. The government intended to engage a software development agency to get several attractive features added to the portal. 
- The Uttar Pradesh Development Systems Corporation Limited (UPDSCL) has started the process of hiring a software development agency for one year to carry out the upgrade of the portal.
- It is noteworthy that a cloud server is a pooled, centralized server resource that is hosted and delivered over a network–typically the Internet–and accessed on demand by multiple users.
Goa Gets A State-Of-The-Art NIT Campus With Sustainability Focus
Goa is all set to get its permanent campus for the National Institute of Technology (NIT) as PM Modi will soon inaugurate the new campus in the state.
- With a built-up area of 70,750 sqm, the campus has been constructed with a total cost of ₹ 390.83 crore. The building has been designed to accommodate 1,260 students.
- The project was envisioned by the former chief minister of the state Dr Manohar Parrikar who laid its foundation stone in 2018. The campus is being setup with an aim to develop Goa as a destination for education as well by establishing an institute of national importance.
Over 11 crore rural households provided tap water connections under Jal Jeevan Mission
The Government has said that over eleven crore rural households have been provided with tap water connections under the Jal Jeevan Mission. Minister of State for Jal Shakti Rajeev Chandrasekhar said this in a written reply to a question in Lok Sabha.
- He said that at the time of the announcement of the Jal Jeevan Mission in August 2019, around three crore rural households were reported to have tap water connections. Mr Chandrasekhar said, now over 14 crore 24 lakh rural households have tap water supply in their homes.
Maharashtra announces 40 ropeway projects, partners with NHAI for execution
The Maharashtra government has joined forces with the National Highways Logistic Management Limited (NHLML) to introduce ropeways as a component of the National Ropeway Programme ‘Parvatmala’.
- Recently, the Maharashtra Public Work Department and NHLML, a subsidiary of the National Highway Authority of India (NHAI) dedicated to infrastructure development, solidified their partnership by signing a memorandum of understanding (MoU) on this matter.
- The implementation of the ropeway projects falls under the jurisdiction of the NHLML. A comprehensive list of 40 ropeway projects has been submitted by the state government for consideration. These proposals primarily originate from Mumbai, Satara, Raigad, Nashik, Nanded, Ratnagiri, and Sindhudurg, with an additional five projects from Pune.
DoNER organises ‘North – East Sammelan’
Ministry of DoNER organized a North East Sammelan at Ambedkar International Centre, New Delhi.
- Minister for DoNER, Tourism and Culture Shri G. Kishan Reddy was the chief guest for the event and virtually laid foundation stone of the North Eastern Cultural and Social Institute in Dwarka built at the cost of Rs 116.38 crore and inaugurated the Barak Hostel at JNU, New Delhi, worth Rs 28.67 crore.
- The North Eastern Cultural and Social Institute in Dwarka, will feature diverse amenities, including an auditorium, a library-cum-reading room focused on materials related to the North Eastern Region, an Art Gallery showcasing the region, an exhibition hall, research center, sale outlets and a Guest House. The center will also house facilities like a State Handloom Display, a food court, and exhibition spaces. Concurrently, the construction of Barak Hostel for North-East Students at JNU, New Delhi, with an estimated cost of Rs. 28.675 Crore, featuring 214 rooms for both genders equipped with modern amenities, aims to enhance hostel accommodations for a larger population of North-East students.
IRCTC initiated Ramayana Circuit Train to bolster tourism
Following the inauguration of the Ram temple in Ayodhya, the Indian Railway Catering and Tourism Corporation (IRCTC) has designed a comprehensive tour program ‘Ramayana Circuit Tourist Train’, promising a 19-day journey across sacred sites. With comprehensive packages and customizable tours, it aims to boost religious tourism.
- The first of such tours began on February 4, and a group of 122 tourists from United Kingdom (60), Portugal (52), and India (10) are touring multiple sites including the Ram Janmabhoomi Temple in Ayodhya, the Bharat-Hanuman temple in Nandigram, the Janaki Mandir in Nepal’s Janakpur, the Punaura Dham in Sitamarhi, the Rameshwar Nath Temple in Buxar, the Vishwanath Temple in Varanasi and so on.
- The meticulously curated itinerary also includes visits to Punaura Dham in Sitamarhi, the Rameshwar Nath Temple in Buxar, and the Vishwanath Temple in Varanasi, among numerous other sacred sites scattered across the circuit. From the tranquil banks of the Ganga-Yamuna sangam in Prayagraj to the mystic environs of Hampi’s Anjanadri Hill, participants are promised an enriching spiritual odyssey like no other.
BANKING & FINANCE
RBI retains repo rate at 6.5 percent for sixth consecutive time
The Reserve Bank of India(RBI) decided to keep policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation.The rate increase cycle was paused in April last year after six consecutive rate hikes aggregating to 250 basis points since May 2022.
- Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent. The Standing Deposit Facility rate remains at 6.25 percent and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75 percent.
- The Reserve Bank of India (RBI) has maintained its inflation projection at 5.4% for 2023–2024.CPI inflation is predicted to be 4.5% for the upcoming fiscal year 2024–2025, with Q1 at 5%, Q2 at 4%, Q3 at 4.6%, and Q4 at 4.7%.
- The RBI Governor highlighted that domestic economic activity remains strong and real GDP growth is 7.3 % for the year 2023-24. This will be the third successful year for the GDP to grow above 7 percent. RBI has pegged real GDP growth for the next financial year at 7 percent.
- The government has mandated the central bank to ensure the retail inflation based on the Consumer Price Index (CPI) remains at 4 percent with a margin of 2 percent on either side.
RBI Governor says it has proposed to adopt principle-based “Framework for authentication of digital payment transactions”
The Reserve Bank of India (RBI) proposed to adopt a principle-based framework for authentication of digital payment transactions to promote alternative mechanisms other than the popular SMS-based One Time Passwords (OTP).
- RBI Governor Shaktikanta Das said although the central bank had not specified any particular Additional Factor of Authentication (AFA) mechanism, SMS-based OTP has become very popular.
- However, in recent years, with technological advancements, alternative authentication mechanisms have emerged and in order to aid in their adoption, RBI has proposed to constitute a principle-based framework for the same, he said.
BUSINESS & ECONOMY
Fitch puts India’s fiscal deficit at 5.4% for FY25
Global ratings agency Fitch predicted, that the fiscal deficit will reach 5.4% of the GDP in FY25, more than the government’s target of 5.1% announced by Finance Minister Nirmala Sitharaman in the interim budget.
- Fitch termed the government’s decision to lower the fiscal deficit target for FY24 to 5.8% of the GDP from 5.9% as a “modest change.”
- The deficit target of 5.1% in FY25 would keep the government on track to reach its goal of shrinking the deficit to 4.5% in FY26. But the agency still thinks that it will be challenging for the government to achieve its FY26 deficit target.
- However, the rating agency also predicted that the process of fiscal consolidation could be set back by the surge in spending ahead of the general elections.
QCI and ONDC launch DigiReady Certification portal for MSMEs
In a significant stride towards fostering digital inclusion in the Micro, Small, and Medium Enterprises (MSME) sector, the Quality Council of India (QCI) and Open Network for Digital Commerce (ONDC) launched the DigiReady Certification (DRC) portal.
- Speaking on the occasion, QCI Chairperson Jaxay Shah said that the initiative is in line with Prime Minister Narendra Modi’s call to sensitise villages and promote digital transactions.
- The DRC portal aims to facilitate a streamlined seller journey, ensuring that MSMEs and small retailers can integrate seamlessly into existing digitised workflows. The certification process evaluates various aspects of digital readiness, including the presence of necessary documentation for online operations, proficiency in using software and technology, integration with existing digitised workflows, and efficient management of orders and catalogue offerings.
SPORTS
Hyderabad to host FIFA World Cup 2026 qualifiers between India and Kuwait on June 6
Telangana Football Association has successfully secured the approval to host the FIFA World Cup qualifiers round between India and Kuwait on June 6 this year in Hyderabad.
- The Telangana Football Association will host a FIFA World Cup qualifier for the first time in history, thus marking a significant occasion for those involved.
- The match between India and Kuwait will also serve as a qualifier for the AFC Asian Cup 2027. Currently third in their group, should India finish as one of the top two teams, they will qualify directly for the Asian continental championship and move onto the next round of FIFA qualifiers.
Centre awarded over Rs 30 crore to athletes under Khelo India scholarship scheme in 2023-24
The Centre has awarded over 30 crore rupees to athletes under the Khelo India scholarship scheme during the 2023-24 financial year.
- The Youth Affairs and Sports Ministry said in a release that the Sports Authority of India has granted a total annual scholarship of over six lakh 28 thousand rupees to almost three thousand athletes under the Khelo India scholarship scheme.
- The Ministry said this amount was spent on training, coaching, diet, medical insurance, kits and out-of-pocket allowance for the athletes.
BIMSTEC Aquatics Championships 2024: India wins overall trophy, Thailand second
The first BIMSTEC Aquatics Championships 2024 concluded with Team India taking the overall trophy with 360 points.
- The Indian swimmers who won a total of 19 Gold medals also took the men’s and women’s champion trophies and the Men and Women’s diving teams also winning Diving champions trophies.
- Trophies for Best Swimmer Male were given to India’s Harsh Saroha for winning 3 Gold Medals and Best Swimmer Female to Thailand’s Maria Anedelko for winning 3 Gold and 1 Silver.
- Team Thailand meanwhile won the Men and Women’s Water Polo Championship trophies.
Assam CM launches Logo, Anthem, Mascot, Jersey and Torch of Khelo India University Games – 2023
Assam Chief Minister Dr. Himanta Biswa Sarma launched the Logo, Anthem, Mascot, Jersey, and Torch of Khelo India University Games – 2023, Ashtalakshmi in Guwahati.
- Dr. Sarma informed that the inaugural ceremony will be held on 19th February and of the total 20 sporting events, 16 will be held in Guwahati. Competitions for the rest of the disciplines will be held in other North Eastern states.
- Government of Assam, in association with the Sports Authority of India, is going to host the Fourth Khelo India University Games 2023 in Guwahati from the 19th to the 29th of this month. The event will be organised at 18 venues in 7 cities during 11 days duration where around 4500 athletes are expected to participate in 20 sporting disciplines. Over 200 universities will participate in the mega-university event.
APPOINTMENTS
El Salvador’s Bukele re-elected as president in landslide win
President Nayib Bukele secured a thumping victory in El Salvador’s elections after voters cast aside concerns about erosion of democracy to reward him for a fierce gang crackdown that transformed security in the Central American country.
- With 70% of ballots tallied, the nation’s electoral authority reported Bukele had about 83.1% of the votes, compared to 6.9% for his closest rival.
- His New Ideas party is expected to win almost all of the 60 seats in the legislative body, tightening its grip on the country and bestowing even more sway on Bukele, the most powerful leader in El Salvador’s modern history.
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