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CURRENT AFFAIRS : BANKING & FINANCE
Reserve Bank of India plans to tighten dividend declaration criteria for banks
- The Reserve Bank of India (RBI) has proposed new rules of dividend payout for domestic and overseas banks operating in India.
- The proposed rules for dividend payout by banks will be effective from the fiscal year 2024-25 onwards.
- The RBI has invited public feedback on the proposed rules, and the deadline for submission is 31 January 2024.
Key Highlights :
- Dividend Declaration Criteria : Banks with an NNPA (Net Non-Performing Asset) ratio exceeding 6% and a Capital Adequacy Ratio (CAR) below 11.5% are prohibited from declaring dividends.
- Minimum Capital Adequacy Ratio : Minimum capital adequacy ratio has been kept at 15% for a small finance bank and payment banks.
- It has been kept at 9% for local area banks and regional rural banks.
- Dividend Computation Basis : According to the RBI’s circular, banks must compute dividends on the basis of the “dividend payout ratio”.
- Dividend payout ratio is the ratio between the amount of the dividend payable in a year and the net profit for the financial year for which the dividend is proposed.
- Inclusion in Dividend Payable : Only dividend on equity shares shall be included in the proposed dividend payable.
- Upper Ceiling on Dividend Payout Ratio : The RBI has proposed increasing the upper ceiling on dividend payout ratio, which is the ratio between the amount of the dividend payable in a year and the net profit to 50 per cent if the net NPA is zero from the earlier ceiling of 40 per cent.
- NNPA Requirement for Dividend Eligibility : Presently, banks require an NNPA ratio of up to 7% to become eligible for declaration of dividends.
- Review Basis : The guidelines have been reviewed in the light of implementation of Basel III standards, the revision of the prompt corrective action (PCA) framework, and the introduction of differentiated banks.
- Applicability : This circular is applicable to all commercial banks (including Regional Rural Banks, Local Area Banks, Small Finance Banks, and Payments Banks).
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Shaktikanta Das
- Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar
India’s FY24 GDP Growth Expected to Surpass Earlier Projection of 6.5% – Finance Ministry
- According to the Finance Ministry, India’s FY24 Gross Domestic Product (GDP) growth rate is expected to exceed its earlier forecast of 6.5%.
- The GDP growth rate is expected to comfortably exceed the Finance Ministry’s earlier forecast after Q2 GDP growth performance at 7.6%.
Key Highlights :
- India’s GDP already grew 7.7% in the first half of this fiscal.
- Union Budget 2023-24 had mentioned a nominal GDP of 10.5% for current fiscal.
- In the latest half-yearly economic review report, the Finance Ministry has highlighted that the headline inflation outlook is on a declining trend.
- India had recorded an economic growth of 7.2% in 2022-23 and 9.1% in 2021-22.
- RBI has raised its growth forecast for 2023-24 to 7%.
- RBI has projected inflation to average at 5.4% in FY24.
- The International Monetary Fund (IMF) has kept India’s growth rate at 6.3% for 2023 and 2024.
- At present, the IMF expects India to become a $5-trillion economy by 2028.
- S&P Global Ratings expects India to become the 3rd largest economy by 2030.
- According to S&P Global Ratings, India will be the world’s fastest growing economy for the next 3 years.
- According to JP Morgan, India is expected to become the world’s 3rd largest economy by 2027.
- It expects the Indian economy to hit $7 trillion by 2030.
CURRENT AFFAIRS: NATIONAL NEWS
CABINET APPROVALS
A. Cabinet approves Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham”
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to declare Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham”.
- Elevating Ayodhya Airport to international status is paramount for realizing Ayodhya’s economic potential and its significance as a global pilgrimage site, opening doors to foreign pilgrims and tourists.
- The airport’s name, “Maharishi Valmiki International Airport, Ayodhyadham,” pays homage to Maharishi Valmiki, the sage attributed to composing the epic Ramayana, adding a cultural touch to the airport’s identity.
- Ayodhya, with its deep cultural roots is strategically positioned to become a key economic hub and pilgrimage site.
- The airport’s potential to attract international pilgrims and businesses aligns with the city’s historical prominence.
B. Cabinet approves signing of a Memorandum of Understanding (MoU) between India and United States for International Development/India (USAID/India) for supporting Indian Railways to achieve Mission Net Zero Carbon Emission
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, was apprised of signing of Memorandum of Understanding between India and United States for International Development/India (USAID/India) for supporting Indian Railways to achieve Mission Net Zero Carbon Emission by 2030.
- The MoU provides a platform for Indian Railways to interact and share the latest developments and knowledge in the railway sector.
- The MoU facilitates utility modernization, advanced energy solutions and systems, regional energy and market integration and private sector participation and engagement, training and seminars/workshops focusing on specific technology areas like Renewable Energy, energy efficiency and other interactions for knowledge sharing.
- Earlier, USAID/India had also worked with IR focused on deployment of rooftop solar across railway platforms.
Impact:
- The MoU has been signed to support India Railways in achieving Mission Net Zero Carbon Emission (NZCE) by 2030.
- This will help Indian Railways to reduce dependence on imported fuel such as Diesel, Coal etc. Deployment of Renewable Energy (RE) plants will give fillip to RE technology in the country.
- This will help in development of local ecosystem which subsequently gives boost to local product development.
Expenditure involved:
- Technical assistance for the services under this MoU is intended to be provided by USAID under the SAREP initiative.
- This MoU is not an obligation of funds or a commitment of any kind, and it is non-binding. This does not involve any financial commitment from Indian Railways.
C. Cabinet approves signing of Memorandum of Understanding between India and Guyana on cooperation in the hydrocarbon sector
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between the Ministry of Petroleum & Natural Gas, Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in the hydrocarbon sector.
Details of the MoU:
- The proposed MoU covers the complete value chain of hydrocarbon sector including sourcing of crude oil from Guyana, participation of Indian companies in Exploration and Production (E&P) sector of Guyana, cooperation in the areas of crude Oil refining, capacity building, Strengthening bilateral trade, collaboration in natural gas sector, collaboration in developing regulatory policy framework in oil & gas sector in Guyana; Cooperation in the area of clean energy including biofuels as well as renewables sector including solar energy etc.
Impact:
- The MoU on cooperation in hydrocarbon sector with Guyana will strengthen bilateral trade, foster investment in each other countries and help diversifying source of crude oil, thus augmenting the energy & supply security of the country. It will also provide opportunity to Indian company to participate in E&P sector of Guyana, gaining experience by working with global oil & gas companies in upstream projects, thus fostering the vision of “Aatmanirbhar Bharat”.
Implementation strategy and targets:
- This MoU shall enter into force on the date of its signature and will remain in force for a period of five years and shall be automatically renewed thereafter on a quinquennium basis unless either Party gives the other Party a written notice three months in advance of its intention to terminate this Understanding.
D. Cabinet approves Memorandum of Understanding between Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) concerning cooperation on the development of a Joint Small Satellite
- The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a Memorandum of Understanding signed at Port Louis, Mauritius between Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) under the aegis of the Ministry of Information Technology, Communication, and Innovation of the Republic of Mauritius, concerning cooperation on the development of a Joint Small Satellite.
Impact:
- MoU will help to establish a framework for cooperation between ISRO and MRIC on the development of a joint satellite as well as for cooperation on the use of the MRIC’s Ground Station.
- Some of the subsystems for the joint satellite will be taken up through the participation of Indian industries and would benefit the industry.
- Collaboration through this joint development of satellite will help in further ensuring continuous support from the Mauritius Government for the Indian ground station at Mauritius, which is critical for ISRO/India’s launch vehicle and satellite missions. In addition, the joint satellite building will also help in ensuring MRIC support from their ground station for ISRO’s small satellite mission in future. Some of the subsystems for the joint satellite will be taken up through the participation of Indian industries and thus may result in employment generation.
Implementation schedule:
- Signing of this MoU shall enable the joint realisation of small satellite between ISRO and MRIC. The satellite realisation is proposed to be completed in 15 months’ time frame.
Expenditure involved:
- The estimated cost for realisation of the joint satellite is Rs.20 crore, which will be borne by the Government of India. This MoU does not involve any other exchange of funds between the Parties.
Background:
- The space cooperation between India and Mauritius is dated way back in late 1980s when ISRO established a ground station in Mauritius for tracking and telemetry support for ISRO’s launch vehicle and satellite missions, under a country-level agreement signed in 1986 for this purpose.
- The current space cooperation is being governed by the country-level agreement signed on 29.7.2009, which superseded the 1986 agreement mentioned above.
- Based on the interest expressed by MRIC in jointly building a small satellite for Mauritius, Ministry of External Affairs (MEA) requested ISRO to initiate discussions with MRIC on realizing an India-Mauritius joint satellite, with MEA funding for realisation, launch and operation of the joint satellite.
- The MoU was signed on November 1, 2023, at Port Louis, Mauritius during the visit of Minister of State (MEA) to Mauritius for the ‘Aapravasi Diwas’ event.
E. Cabinet approves overarching scheme “PRITHvi VIgyan (PRITHVI)” of the Ministry of Earth Sciences
- The Union Cabinet Chaired by the Prime Minister, Shri Narendra Modi has approved the overarching scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences, for implementation during the period from 2021-26 at an overall cost of Rs. 4,797 crore.
- The scheme encompasses five ongoing sub-schemes namely “Atmosphere & Climate Research-Modelling Observing Systems & Services (ACROSS)”, “Ocean Services, Modelling Application, Resources and Technology (O-SMART)”, “Polar Science and Cryosphere Research (PACER)”, “Seismology and Geosciences (SAGE)” and “Research, Education, Training and Outreach (REACHOUT)”.
The major Objectives of the overarching Prithvi Scheme are:
- Augmentation and sustenance of long-term observations of the atmosphere, ocean, geosphere, cryosphere and solid earth to record the vital signs of the Earth System and change
- Development of modelling systems for understanding and predicting weather, ocean and climate hazards and understanding the science of climate change
- Exploration polar and high seas regions of the Earth towards discovery of new phenomena and resources;
- Development of technology for exploration and sustainable harnessing of oceanic resources for societal applications
- Translation of knowledge and insights from Earth systems science into services for societal, environmental and economic benefit.
India launches a single-window portal for medical devices management
- India has launched National Single Window System (NSWS) to streamline the imports of Medical Devices.
- It has been designed by Tata Consultancy Services (TCS).
- It will be a ‘one-stop-shop’ portal for importing medical devices in India.
- It will facilitates applications for the certificate of registration and licences to manufacture or import medical devices for various purposes like clinical investigations, tests, evaluations, demonstrations, or training.
- This portal will act as as a one-stop shop for all the approvals required by the investor and facilitates ease of doing business.
- The NSWS portal, distinct from the existing SUGAM and cdscomdonline portals, has been developed by Tata Consultancy Services (TCS).
- The existing portals will be disabled by January 15.
- It will help investors to identify, apply, track and obtain approvals needed before starting any business operations in India.
- India’s demand for medical devices is projected to reach $50 billion by 2030.
- The annual demand for medical devices in India is around $12 billion.
- Out of which India imports around $7.6 billion worth of medical devices.
Hit-and-run law: Truckers end protest after Centre says decision after talks
- Centre will implement the new ‘Hit-and-Run Law’ after consulting with truckers.
- Truck drivers’ associations called off their nationwide protest against the new penal provisions in the Bharatiya Nyay Sanhita (BNS) regarding hit-and-run cases.
- The Home Ministry, this after discussions with representatives of the All India Motor Transport Congress, the second day of the strike.
- The new law provided that if drivers cause a serious road accident by negligent driving and run away without informing the police or any administrative officer, they can face imprisonment of up to 10 years or a fine of Rs 7 lakh.
- During the discussion, the Center clarified that the new laws and provisions regarding hit-and-run cases have not yet come into force in the newly launched BNS.
- The decision to implement hit-and-run cases will be taken only after consultation with the All India Motor Transport Congress.
- The strike, originally scheduled to last three days, was launched by truck, bus, and tanker drivers in protest against tougher jail and fine rules under the new penal code for hit-and-run cases.
CURRENT AFFAIRS : STATE NEWS
Maharashtra Approves Establishment of Maharashtra Drone Mission, Envisions Global Drone Hub Status
- The Maharashtra government has decided to set up the Maharashtra Drone Mission (MDM) for the use of drone technology.
- Aim of the Mission : To utilize drone technology for various functions, including security surveillance, disaster rescue and relief, delivery of emergency medicines and vaccines to remote areas, monitoring infrastructure projects, and traffic management.
- A five-year implementation plan has been developed by a team of experts from the Indian Institute of Technology (IIT)-Bombay.
- The headquarters of the Maharashtra Drone Mission will be located at IIT-Bombay.
- This move is expected to transform Maharashtra into a global drone hub.
Key Highlights :
- The IIT-B report envisaged the use of drones for the delivery of medicines in an emergency as well as vaccines to remote areas.
- As per the report, drones will be used for surveillance and traffic management.
- The state government notified that the use of drones would be done under the Centre’s Remotely Piloted Aircraft (RPA) operation guidelines.
- The plan includes the establishment of six regional centers and 12 district-level centers across the state, suggesting a widespread and organized approach to drone operations.
About Maharashtra
- Governor: Ramesh Bai
- Chief Minister: Eknath Shinde
- Capital: Mumbai
- National Park: Tadoba National Park, Navegaon National Park
- Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife Sanctuary
- UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Jammu and Kashmir becomes first Union Territory to implement PM Vishwakarma Yojana
- Jammu and Kashmir (J&K) has become the first Union Territory (UT) to implement the Prime Minister (PM) Vishwakarma Yojana.
About PM Vishwakarma Yojana :
- PM Vishwakarma Yojana is an initiative to empower and enhance the skills of the craftsman community.
- The key components of PM Vishwakarma Scheme are:
- Recognition: PM Vishwakarma Certificate and ID Card
- Skill Upgradation
- Toolkit Incentive
- Credit Support
- Incentive for Digital Transactions
- Marketing Support
- The training programme for the first batch of 30 trainees (Viswakarmas) in ‘darzi craft’ has been inaugurated at the Industrial Training Institute in Shopian.
- The scheme is expected to be operationalized in all districts of Jammu and Kashmir soon, indicating a comprehensive reach.
- PM Vishwakarma Yojana was launched by the Ministry of Micro, Small and Medium Enterprises (MSME) to provide holistic support to artisans and craftspeople, including access to collateral-free credit, skill training, modern tools, incentives for digital transactions, and market linkage support.
- The primary aim of the scheme is to recognize artisans and craftspeople through PM Vishwakarma certificates and ID cards.
- The scheme includes basic training of five to seven days, advanced training of 15 days or more, a stipend of ₹500 per day, and a free modern toolkit worth ₹15,000 for trained Vishwakarmas.
- An artisan or craftsperson working with hands and tools and engaged in one of the above family-based traditional trades, in the unorganized sector on a self-employment basis, shall be eligible for registration under PM Vishwakarma.
- The minimum age of the beneficiary should be 18 years on the date of registration.
- The beneficiary should be engaged in the trade concerned on the date of registration and should not have availed loans under similar credit-based schemes of Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years.
- Artisans and craftspeople who are engaged in the 18 trades as mentioned in the Guidelines are eligible.
About J&K :
- Lieutenant Governor : Manoj Sinha
- Capitals : Srinagar, Jammu
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Power Grid Appoints Ravindra Kumar Tyagi as New Managing Director
- Ravindra Kumar Tyagi has been appointed as the new Chairman and Managing Director of Power Grid Corporation of India Limited (POWERGRID).
- Prior to this, he was serving as Director (Operations) of the company.
About Ravindra Kumar Tyagi :
- He has over 33 years of rich experience in the power sector at various key positions in leading CPSU.
- He has handled multi-disciplinary work in various business areas of POWERGRID such as Asset Management, Engineering, Business Development (domestic and overseas), Telecom, Load Despatch & Communication, NTAMC, DMS etc. and Head of POWERGRID’s Northeastern Region.
- He has also served as the Head of POWERGRID’s North Eastern Region.
- He is an author of more than 50 technical papers presented in National and International conferences
About POWERGRID :
- Founded : 23 October 1989
- Headquarters : Gurugram, Haryana, India
- Power Grid Corporation of India Limited is an Indian central public sector undertaking under the ownership of the Ministry of Power, Government of India.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
India’s ISRO to use Elon Musk’s SpaceX Falcon-9 rocket to launch GSAT-20 satellite
- For the first time, the commercial arm of the Indian Space Research Organisation (ISRO) will launch a communication satellite on a SpaceX rocket.
- Using SpaceX’s services for the first time, ISRO will deploy its heavy communications satellite GSAT-20 via the Falcon-9 rocket in mid-2024.
- This will be India’s first partnership with a venture led by billionaire Elon Musk who also wants to expand his other businesses in the country.
What is GSAT-20?
- GSAT-20 (renamed as GSAT-N2) is a high throughput Ka-band satellite.
- Ka-band satellites deliver high-speed broadband internet connectivity and digital video and audio transmission.
- GSAT-20 can enable telecom providers to offer very high-speed Internet services.
- It weighs about 4,700 kg, much heavier than the launch capacity of ISRO’s most powerful rocket, the LVM-3.
- For its heavier satellites, weighing more than 4,000 kg, India was dependent on European launch provider Arianespace.
- However, Arianespace’s heavy launch vehicle Ariane-5 was retired in July 2023 and its successor Ariane-6 is yet to make its debut.
About SpaceX’s Falcon-9 rocket :
- Falcon-9 is a reusable rocket, which can carry over 8,300 kg to GTO. It has made 285 flights to various places in space.
- The flight of Indian satellites on Falcon-9 has been facilitated by ISRO’s commercial arm NewSpace India Limited (NSIL), which had entered into a launch agreement with SpaceX in 2023.
- GSAT-20 will address high-speed connectivity deficiencies in rural and remote parts of the country and also enable in-flight internet services.
- It was initially scheduled to be launched in 2018 and then in 2020.
- GSAT-20 will be the second “demand driven” satellite launch enabled by NSIL.
- In 2022, it facilitated the launch of GSAT-24 whose entire capacity was bought by Tata Play, a Direct-To-Home broadcaster.
About ISRO :
- Established: 15 August 1969
- Headquarters: Bangalore, Karnataka, India
- Chairman: S. Somanath
Researchers develop ‘electronic soil’ that enhances crop growth by 50%
- Scientists have developed an electrically conductive “soil” named eSoil, leading to a 50% increase in barley seedling growth in 15 days.
- This soilless cultivation method, known as hydroponics, uses a root system that is stimulated electrically through a new cultivation substrate.
- The team developed an electrically conductive cultivation substrate, tailored to hydroponic cultivation, that they call eSoil.
About eSoil :
- The eSoil is made of cellulose.
- It is a biopolymer mixed with a conductive polymer called PEDOT.
- High voltage has been used before by researchers to stimulate roots.
- The main advantage of eSoil is that it has very low energy consumption and no high-voltage danger.
- As per the study, hydroponics cultivation will have a better growth rate due to electrical stimulation.
- The researchers have not ensured that the e-soil can resolve the problem of food security.
What is meant by Hydroponics?
- Hydroponics is the technique of growing plants without soil with the help of a water-based nutrient solution.
- It uses closed systems that recirculate water to make sure each seedling gets exactly the nutrients it needs.
CURRENT AFFAIRS: MOUS AND AGREEMENT
Coal India Ltd Enters into MoU with National Skill Development Corporation to set up Multi Skill Development Institutes under each Subsidiary
- Coal India Limited (CIL) has entered into a MoU with National Skill Development Corporation (NSDC) for “Setting up of Multi Skill Development Institutes (MSDIs)”.
- The MoU was signed in the presence of Ms. Rupinder Brar, Additional Secretary, Ministry of Coal, Sh. Vinay Ranjan, Director (P&IR), Coal India Limited and Sh. Manoj Kumar, CMD, EdCIL (India) Ltd. along with Directors (Personnel) from CIL’s subsidiaries and dignitaries from Ministry of Coal and other Coal Companies.
- As agreed in the MoU, one MSDI will be set up in each subsidiary with CCL, BCCL, MCL, NCL & SECL covered in the first phase, and the remaining subsidiaries in the second phase.
- The existing infrastructure available at CIL subsidiaries will be developed as MSDIs.
- The project will cover one-time capex for repurposing of existing infrastructure as MSDIs and Recurring & Project Monitoring Unit (PMU) expenses per year.
- This initiative underscores CIL’s commitment to foster skill development and creating sustainable employment for local youth in coal-bearing areas.
- The project will help the youth of command areas in getting market-oriented skill training and entering into formal sector employment/entrepreneurship.
- Skilling is a focal point for both the Government of India and CIL’s CSR activities, underscoring CIL’s commitment to empower communities. Looking at the
- shortage of skill training centers in coal bearing areas, it is very important to train youth from these areas for finding alternative sources of livelihood.
Coal India Limited Partners with EdCIL for Educational Transformation in Coal Mining Districts of Jharkhand
- Coal India Limited (CIL), a Mah aratna PSU is committed to sustainable and socially responsible practices.
- Under its Corporate Social Responsibility (CSR), CIL actively engages in initiatives to uplift the education sector and empower the residents of its mining command areas through it.
- As incorporation of ICT (Information and Communication Technology) based learning is being increasingly adopted as the modern means of pedagogy, CIL has entered into a MoU with EdCIL (India) Limited for “Digitizing Education in eleven districts of Jharkhand” at New Delhi.
- The MoU was signed in the presence of Ms Rupinder Brar, Additional Secretary, Ministry of Coal, Govt. of India Sh. Vinay Ranjan, Director (P&IR), Coal India Limited and Sh. Manoj Kumar, CMD, EdCIL (India) Ltd. along with Directors (Personnel) from CIL’s subsidiaries and dignitaries from Ministry of Coal and other Coal Companies.
- The project will be implemented in 11 districts of Jharkhand within a period of three years.
- These districts have mining areas of three subsidiaries of CIL namely Eastern Coalfields Ltd. (ECL), Bharat Coking Coal Ltd. (BCCL) and Central Coalfields Ltd. (CCL).
- The estimated cost of the project is Rs. 27.08 crores.
- One smart classroom and one ICT (Information & Communication Technology) lab will be installed in each identified school.
- The project also has provision of teacher training and three year maintenance of installed equipment.
- This initiative which is in line with the New Education Policy (NEP) 2020 represents a significant stride in leveraging technology to enhance education in coal districts.
- This is a step forward to fulfil the government’s vision of a Viksit Bharat and Atmanirbhar Bharat.
- The project will empower the students with rich educational content improving the learning outcomes.
- CIL is committed to driving positive change and enabling a brighter future for the communities through its CSR activities.
CURRENT AFFAIRS: IMPORTANT DAYS
World Day of War Orphans: 6th January
- World Day of War Orphans 2024 is observed on the 6th of January 2024.
- Children who lose their parents in sudden, violent events like war are forced to live with a surviving relative or into the foster care system, where they must deal with horrible living conditions including starvation and disease.
- It’s impossible to fathom the emotional and mental strain they experience.
- About half of the casualties in wars over the past few centuries were civilians, a percentage that gradually rose until 2001.
- According to UNICEF, there were “almost 140 million orphans worldwide” as of 201 Of those, 61 million lived in Asia, 52 million in Africa, 10 million in Latin America and the Caribbean, and 7.3 million in Eastern Europe and Central Asia.
- SOS Enfants en Detresse, a French charity that aims to restore a sense of normalcy to the lives of children indirectly impacted by war and conflict, established World Day for War Orphans.
- Every year on January 6, awareness-raising events are held to help people better comprehend the suffering that orphaned children are subjected to.
Daily CA One- Liner: January 6
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to declare Ayodhya Airport as an International Airport and naming it as “Maharishi Valmiki International Airport, Ayodhyadham”.
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, was apprised of signing of Memorandum of Understanding between India and United States for International Development/India (USAID/India) for supporting Indian Railways to achieve Mission Net Zero Carbon Emission by 2030.
- The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between the Ministry of Petroleum & Natural Gas, Government of India and the Ministry of Natural Resources, Republic of Guyana on cooperation in the hydrocarbon sector.
- The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a Memorandum of Understanding signed at Port Louis, Mauritius between Indian Space Research Organization (ISRO) and Mauritius Research and Innovation Council (MRIC) under the aegis of the Ministry of Information Technology, Communication, and Innovation of the Republic of Mauritius, concerning cooperation on the development of a Joint Small Satellite.
- The Union Cabinet Chaired by the Prime Minister, Shri Narendra Modi has approved the overarching scheme “PRITHvi VIgyan (PRITHVI)” of Ministry of Earth Sciences, for implementation during the period from 2021-26 at an overall cost of Rs. 4,797 crore.
- India has launched National Single Window System (NSWS) to streamline the imports of Medical Devices.
- Truck drivers’ associations called off their nationwide protest against the new penal provisions in the Bharatiya Nyay Sanhita (BNS) regarding hit-and-run cases.
- Coal India Limited (CIL) has entered into a MoU with National Skill Development Corporation (NSDC) for “Setting up of Multi Skill Development Institutes (MSDIs)”.
- Coal India Limited (CIL), a Maharatna PSU is committed to sustainable and socially responsible practices.
- World Day of War Orphans 2024 is observed on the 6th of January 2024.
- The Reserve Bank of India (RBI) has proposed new rules of dividend payout for domestic and overseas banks operating in India.
- According to the Finance Ministry, India’s FY24 Gross Domestic Product (GDP) growth rate is expected to exceed its earlier forecast of 6.5%.
- The Maharashtra government has decided to set up the Maharashtra Drone Mission (MDM) for the use of drone technology.
- Jammu and Kashmir (J&K) has become the first Union Territory (UT) to implement the Prime Minister (PM) Vishwakarma Yojana.
- Ravindra Kumar Tyagi has been appointed as the new Chairman and Managing Director of Power Grid Corporation of India Limited (POWERGRID).
- For the first time, the commercial arm of the Indian Space Research Organisation (ISRO) will launch a communication satellite on a SpaceX rocket.
- Scientists have developed an electrically conductive “soil” named eSoil, leading to a 50% increase in barley seedling growth in 15 days.
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