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CURRENT AFFAIRS : BANKING & FINANCE
ICICI Prudential Life Insurance Launches ICICI Pru Guaranteed Pension Plan Flexi Featuring ‘Benefit Enhancer
- ICICI Prudential Life Insurance has launched ICICI Prudential Guaranteed Pension Plan Flexi with Benefit Enhancer.
Key Highlights :
- Innovative Annuity Plan with Premium Refund Option : This product is being billed as the industry’s first annuity plan that provides customers with the option to receive a 100% refund of premiums paid at any time starting from the date of purchase.
- Loan Facility for Financial Flexibility : The plan includes a loan facility to assist customers in managing unexpected financial obligations, allowing them to stay invested in the product and continue working towards their retirement planning goals.
- Alignment with IRDAI Regulations : The product is designed in accordance with proposed IRDAI regulations, emphasizing fair and appropriate surrender values, especially in cases of early policy exits.
- Importance of Retirement Planning : Retirement planning is an essential objective, and unforeseen financial emergencies can jeopardise this goal.
- To assist customers in overcoming unexpected financial obligations, the product offers a loan facility.
- This allows customers to stay invested in the product and work towards achieving their retirement planning objectives.
- Importance of Retirement Planning : Retirement planning is an essential objective, and unforeseen financial emergencies can jeopardise this goal.
- To assist customers in overcoming unexpected financial obligations, the product offers a loan facility.
- This allows customers to stay invested in the product and work towards achieving their retirement planning objectives.
- Regulatory Compliance : Notably, this product aligns with the forthcoming regulations, which seek to guarantee that customers are provided with a fair and suitable surrender value, especially when opting for an early exit from the policy.
About ICICI Prudential Life Insurance :
- Founded : 2000
- Headquarters : Mumbai, Maharashtra
- MD & CEO : Anup Bagchi
- Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business.
- In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.
- Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business.
- In 2016, the company became the first insurance company in India to be listed in the domestic stock exchanges.
SEBI Renews Recognition for AMC Repo Clearing for 1 Year to Facilitate Transaction Clearing
- Capital markets regulator Securities and Exchange Board of India (SEBI) has renewed its recognition for AMC Repo Clearing Limited as a clearing corporation for one year, allowing it to clear and settle transactions in repo and reverse repo in debt securities.
- The renewal period granted by SEBI is from January 17, 2024, to January 16, 2025.
Key Highlights :
- Clearing Corporation Activities : Under the rules, AMC Repo Clearing Ltd will not undertake any activity except that of clearing and settling of transactions in repo and reverse repo in the debt securities that are dealt with or traded on a recognised stock exchange.
- SEBI’s Previous Recognition Grant : Earlier, the SEBI granted recognition to such clearing corporations in January, 2022.
- Introduction of Limited Purpose Clearing Corporation (LPCC) : In October 2020, SEBI introduced the concept of a Limited Purpose Clearing Corporation (LPCC) for the clearing and settlement of repo transactions in debt securities.
- Guidelines for Mutual Fund Participation : In February 2021, SEBI issued guidelines specifying that asset management companies (AMCs) are required to contribute Rs 150 crore as share capital for the establishment of LPCC by mutual funds.
- Objective of LPCC : The decision to allow the mutual fund industry to establish LPCC aimed at assisting funds in handling redemption pressures and facilitating the settlement of transactions in the corporate bond market.
About SEBI :
- Established: 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
- Headquarters: Mumbai, Maharashtra
- Chairman: Madhabi Puri Buch
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, Government of India.
RBI Plans Stricter Regulations for Housing Finance Companies Accepting Deposits
- The Reserve Bank of India (RBI) has proposed a phased transition to tighten regulations for housing finance companies (HFCs), aligning them more closely with non-banking financial companies (NBFCs).
Key Highlights :
- Uniform Prudential Parameters : The aforementioned prescriptions are part of RBI’s plan to move HFCs (accepting or holding public deposits) towards the regulatory regime on deposit acceptance as applicable to deposit-taking non-banking finance companies (NBFCs) and specify uniform prudential parameters.
- Increase in Liquid Assets Requirement : As per the draft circular, deposit-taking HFCs are required to raise their total liquid assets, including unencumbered approved securities, to 15% of public deposits by the end of March 2025, up from the current 13%.
- Reduction in Public Deposit Ceiling : The ceiling on the quantum of public deposits held by deposit taking HFCs, which comply with all prudential norms and minimum investment grade credit rating, will stand reduced from three times to 1.5 times of net owned funds, per the draft circular.
- Restrictions on Excess Deposits : HFCs holding deposits beyond the revised limit cannot accept new public deposits or renew existing ones until the quantum of public deposits is below the revised limit.
- Existing excess deposits can run off till maturity.
- Shortened Deposit Tenure : The longest time period for which HFCs can accept deposits will be cut to 60 months from the current 120 months.
- Existing deposits with maturities above 60 months can be repaid as per their existing repayment profile.
- Existing deposits with maturities above 60 months can be repaid as per their existing repayment profile.
- The minimum period for which HFCs can accept deposits continues at 12 months.
- Asset Cover and Credit Rating Requirements : Deposit-taking housing finance companies (HFCs) may have to ensure that full asset cover is available for public deposits accepted by them at all times and obtain minimum investment grade credit rating at least once a year.
About NBFC Operational Requirements :
- An NBFC is required to open a Constituent’s Subsidiary General Ledger (CSGL) account with a scheduled commercial bank, or the Stock Holding Corporation of India Ltd. (SHCIL) or a dematerialized account with a depository through a depository participant.
- The NBFC has to keep the unencumbered approved securities required to be maintained by it in such a CSGL account or dematerialised account.
- Further, the NBFC has to designate one of the scheduled commercial banks, in the place where the registered office of the non-banking financial company is situated, as its designated banker, entrusting, in physical form, to the bank or SHCIL the unencumbered term deposits and such unencumbered approved securities which have not been dematerialised.
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Shaktikanta Das
LIC Overtakes SBI in Market Valuation, Emerges as the Most Valuable Public Sector Undertaking (PSU) Firm
- Life Insurance Corporation of India (LIC) has surpassed State Bank of India (SBI) to become the most valued public sector undertaking (PSU) firm in India by market valuation.
Key Highlights :
- Stock Performance : LIC’s shares experienced a 3% surge, reaching a 52-week high of Rs 919.45 on the BSE during intra-day trade.
- However, the stock later declined by 0.63%, closing at Rs 886.90.
- The stock of SBI fell by 1.67 per cent to Rs 626.15 apiece.
- Market Capitalization Comparison : The market capitalization of LIC stood at Rs 5,60,964.05 crore, which is Rs 2,149.47 crore more than SBI’s Rs 5,58,814.58 crore valuation.
- LIC currently holds the 9th position among the top ten most valued firms.
- Reliance Industries is the country’s most valued firm with a market valuation of Rs 18,42,160.54 crore followed by TCS (Rs 14,21,230.44 crore), HDFC Bank (Rs 11,66,888.98 crore), ICICI Bank (Rs 6,87,740.99 crore), Infosys (Rs 6,80,631.89 crore), Bharti Airtel (Rs 6,10,389.59 crore), Hindustan Unilever (Rs 6,02,388.21 crore), ITC (Rs 5,82,423.61 crore), LIC (Rs 5,60,964.05 crore) and SBI (Rs 5,58,814.58 crore).
- Listing Details : The country’s largest insurer was listed in May 2022.
- The government had sold over 22.13 crore shares, or a 3.5 per cent stake in LIC, through an Initial Public Offering (IPO).
- The government holds 96.5 per cent stake in the company.
- Share Performance Since Listing : LIC shares were listed at Rs 875.25 apiece on May 17, 2022, compared to the IPO price of Rs 949.
- Currently, the stock is only 6.21% away from its IPO price.
- Government Stake in LIC : The government holds a 96.5% stake in the Life Insurance Corporation (LIC).
About LIC :
- Established : 1956
- Headquarters : Mumbai, Maharashtra
- Chairman : Siddharth Mohanty
- Current MDs : Ipe Mini, M Jagannath, Tablesh Panday, Sat Pal Bhanoo
CURRENT AFFAIRS: NATIONAL NEWS
The Prime Minister inaugurated the new Boeing India Engineering & Technology Center campus in Bengaluru, Karnataka.
- Indian Prime Minister, Shri Narendra Modi inaugurated the new state-of-the-art Boeing India Engineering & Technology Center (BIETC) campus in Bengaluru, Karnataka.
- Built with an investment of Rs 1,600 crores, the 43-acre campus is Boeing’s largest such investment outside the USA.
- The Prime Minister also launched the Boeing Sukanya Program which aims to support the entry of more girl children from across India into the country’s growing aviation sector.
- The Prime Minister took a walkthrough of the Experience Center and interacted with Sukanya beneficiaries.
- The Prime Minister inaugurated the new state-of-the-art Boeing India Engineering & Technology Center (BIETC) campus in Bengaluru. Built with an investment of Rs. 1,600 crores, the 43-acre campus is Boeing’s largest such investment outside the USA.
Key Highlights
- Boeing’s new campus in India will become a cornerstone for partnership with the vibrant startup, private and government ecosystem in India, and will help develop next-generation products and services for the global aerospace and defence industry.
- The Prime Minister also launched the Boeing Sukanya Program which aims to support the entry of more girl children from across India into the country’s growing aviation sector.
- The program will provide opportunities for girls and women from across India to learn critical skills in the science, technology, engineering and maths (STEM) fields and train for jobs in the aviation sector. For young girls, the program will create STEM Labs at 150 planned locations to help spark interest in STEM careers. The program will also provide scholarships to women who are training to be pilots.
Prime Minister lays foundation stone for eight projects under AMRUT scheme worth approximately Rs. 2,000 crores in Solapur, Maharashtra.
- The Prime Minister, Shri Narendra Modi laid the foundation stone of 8 AMRUT (Atal Mission for Rejuvenation and Urban Transformation) projects worth around Rs. 2,000 crores in Solapur, Maharashtra.
- Shri Modi dedicated to the nation more than 90,000 houses completed under PMAY-Urban in Maharashtra and 15,000 houses of Raynagar Housing Society in Solapur, whose beneficiaries comprise thousands of handloom workers, vendors, power loom workers, rag pickers, Bidi workers, drivers, among others.
- He also initiated the distribution of 1st and 2nd instalments to 10,000 beneficiaries of PM-SVANIDHI in Maharashtra during the programme.
- Governor of Maharashtra, Shri Ramesh Bais, Chief Minister of Maharashtra, Shri Eknath Shinde, Deputy Chief Ministers of Maharashtra, Shri Devendra Fadnavis and Shri Ajit Pawar and Founder of Raynagar Federation, Shri Narsayya Adam were present on the occasion among others.
CURRENT AFFAIRS: INTERNATIONAL NEWS
Japan inks deal to buy 400 long-range missiles from U.S.
- Japan signed a deal with its ally the United States to buy 400 long-range Tomahawk missiles as it ramps up its military capacity to counter regional security threats.
- Faced with growing Chinese military clout and a nuclear-armed North Korea, the Japanese government plans to double its defense spending to the NATO standard of 2% of GDP by 2027.
- A sale of up to $2.35 billion (¥348 billion) for two types of Tomahawks, which have a 1,600-kilometer (995-mile) range, was approved by Washington in November 2023.
- Japan has approved a record defense budget worth $56 billion for the next fiscal year from April.
- Japan has a pacifist post-war constitution, which limits its military to ostensibly defensive measures.
- But when it updated key security and defense policies last year, Tokyo explicitly outlined the challenge posed by China.
- At a news conference earlier in the day, U.S. ambassador Rahm Emanuel lauded Japan’s new defense push.
- Last month Tokyo loosened arms export controls to enable it to sell Patriot missiles made in Japan under license to the United States, which is seeking to replenish its stocks after sending the weapon systems to
About Japan:
- Capital: Tokyo
- Currency: Yen
- Prime Minister: Fumio Kishida
About USA:
- Capital: Washington, DC
- Currency: Dollar
- President: Joe Biden
CURRENT AFFAIRS: STATE NEWS
Andhra Pradesh CM Jagan to unveil 125-ft statue of Ambedkar in Vijayawada
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy will unveil a 125 foot statue of Dr B R Ambedkar at Swaraj Maidan in
- The statue, constructed at an estimated cost of Rs 404 crore, stands on an 81-foot pedestal, making it a 206-feet
- It is named as the ‘Statute of Social Justice’ and Swaraj Maidan will be named after Dr B R Ambedkar.
- The state government has stated that it is the tallest non-religious statue project in the country.
- The project has a park with Dr BR Ambedkar experience centre, a convention centre with a seating capacity of 2,000, a food court, a play area for children, water bodies, musical fountain and long walking paths, officials informed.
- The 125-foot statue is made of steel frame and bronze cladding and is completely made in India. Around 400 MT of stainless steel and 120 metric tonnes of bronze were used for the construction of the statue. The 81 foot pedestal building Is designed as Kalachakra Maha Mandal of Buddhist architecture.
- The project, which was started in December 2021, has been implemented by the Social Welfare Department (nodal agency) of the state government and Andhra Pradesh Industrial infrastructure Corporation.
About Andhra Pradesh:
- Governor: Abdul Nazeer
- Chief minister: YS Jagan Mohan Reddy
- Capital: Amaravati
- National Park : Nagarjunasagar Srisailam Tiger Reserve, Papikonda National Park, Rajiv Gandhi (Rameswaram) National Park, Sri Venkateswara Wildlife Sanctuary, National Park
- Wildlife Sanctuaries : Gundla Brahmeswaram Wildlife Sanctuary, Coringa Wildlife Sanctuary, Koundinya Wildlife Sanctuary, Krishna Wildlife Sanctuary, Pulicat Lake Wildlife Sanctuary
Bengal CM Mamata Banerjee inaugurates 47th Kolkata International Book Fair
- Inaugurating the International Kolkata Book Fair, West Bengal Chief Minister Mamata Banerjee stated that relations between India and the UK have spanned over a long time since the Battle of Plassey in 1757.
- The UK is the theme country of this 47th edition of the book fair.
- Banerjee stated since 1757, the British had ruled India till Independence during which several architectural edifices have been constructed by them.
- Banerjee stated she had received invitations from a premier UK university which she is likely to visit after June this year.
- Nearly 20 countries are participating in this year’s book fair which has become a big festival in the metropolis, she added.
- The chief minister stated she had published 143 books so far and intends to make the figure 150 next year, she added.
About West Bengal :
- Governor: V. Ananda Bose
- Chief minister: Mamata Banerjee
- Capital: Kolkata
- National Park : Jaldapara National Park, Sunderban National Park (also a Tiger Reserve), Singalila National Park, Neora Valley National Park, Gorumara National Park, Buxa National Park
- Wildlife Sanctuaries : Senchal Wildlife Sanctuary, Lothian Island Wildlife Sanctuary, Mahananda Wildlife Sanctuary, Sajnekhali Wildlife Sanctuary, Pakhi Bitan Wildlife Sanctuary
Moh-Juj Fights: A Cultural Resurgence in Assam
- The Assam Government, led by Chief Minister Himanta Biswa Sarma, reinstated the traditional buffalo fight (Moh-Juj) after a nine-year hiatus.
- The event, held in the Ahotguri area of Nagaon district, marks a significant cultural revival.
- The Supreme Court had previously banned such events, akin to Tamil Nadu’s Jallikattu and Maharashtra’s bullock cart
From ban to reinstatement
- The Supreme Court had outlawed Jallikattu and bullock-cart races in 2014, including events of a similar nature.
- However, a breakthrough came in May last year when five-judge bench upheld amendments by Tamil Nadu, Maharashtra, and Karnataka to the Prevention of Cruelty to Animals (PCA) Act, 1960.
- This allowed the resumption of bull-taming
- Responding to a Gauhati high court query in October, the Assam Government committed to framing Standard Operating Procedures (SOP).
- Subsequently, on December 8, 2023, the state cabinet approved the revival of traditional buffalo fights under strict SOP.
- According to Sarma, Moh-Juj was introduced to Assamese culture by the 30th Ahom king Swargadeo Rudra Singha nearly 200 years ago.
- Alongside buffalo fights, Swargadeo Rudra Singha introduced elephant-fights and bird fights, events that played a unifying role in society.
- The chief minister stressed the delicate balance achieved between animal welfare and the celebration of ancient culture.
- In addition to Moh-Juj, the Assam Government also revived the traditional bird-fight, Bulbuli fight, which had faced a ban in 2016.
- The event, organised in Hayagriva Madhav, was attended by Chief Minister Sarma and his family.
- Sarma reiterated the government’s commitment to breathing life into ancient customs and rituals.
PETA’s concerns
- People for the Ethical Treatment of Animals (PETA), India, raised concerns about the events being a violation of the Prevention of Cruelty to Animals (PCA) Act, 1960.
- PETA urged Chief Minister Sarma to halt Moh-Juj and Bulbuli bird fights during the Bhogali Bihu festival, emphasising the legal implications based on Supreme Court judgments.
About Assam:
- Governor: Gulab Chand Kataria
- Chief minister: Himanta Biswa Sarma
- Capital: Dispur
- National Park : Kaziranga National Park, Manas National Park, The Orang National Park, Raimona National Park, Namdapha National Park
- Wildlife Sanctuary: Sonai Rupai Wildlife Sanctuary, Pani-Dihing Wildlife Sanctuary, Nambor Wildlife Sanctuary, Marat Longri Wildlife Sanctuary, Lawkhowa Wildlife Sanctuary
CURRENT AFFAIRS: AWARDS AND HONOURS
REC has been awarded the SCOPE Excellence Award for Digitalization.
- REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honored with the prestigious Scope Excellence Award in the category of Special Institutional Category (Digitalization).
- The award acknowledges REC Limited’s unwavering commitment to the digitalization of its workplace and the promotion of best practices in establishing a paperless office.
- The award was presented by the Vice President of India, Shri Jagdeep Dhankhar, at a ceremony held at Vigyan Bhawan in New Delhi.
- Director (Finance), Shri Ajoy Choudhury and Executive Director (BDM), Shri Saurabh Rastogi of REC Limited graciously accepted the award from the Vice President of India at the ceremony.
- This accomplishment underscores REC Limited’s dedication to embracing technological advancements and fostering a culture of innovation within the organization.
About SCOPE
- SCOPE was established in 1973 as an apex body of Public Sector Enterprises (PSEs), and is dedicated to promoting competitiveness and excellence within the PSE sector.
- The SCOPE Excellence Award recognizes and commemorates exemplary performances of Public Sector Enterprises.
About REC Limited:
- REC is a ‘Maharatna’ CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC finances the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects.
CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS
RuPay Prime Volleyball League ropes in Hrithik Roshan as brand ambassador for Season 3
- Indian superstar Hrithik Roshan joins the 3rd season of RuPay Prime Volleyball League powered by A23 as the brand ambassador.
- Hrithik, an avid sports fan himself, enjoys the physical nature of volleyball and describes the partnership as a natural fit for him.
- The event is all set to begin on February 15, 2024 and will be telecast LIVE on Sony Sports Network.
- The RuPay Prime Volleyball League powered by A23 is co-owned and exclusively marketed by Baseline Ventures, a sports marketing firm.
- Tuhin Mishra, managing director and co-founder, Baseline Ventures.
CURRENT AFFAIRS: DEFENCE NEWS
India’s domestic air passenger traffic to touch 300 million by 2030: Civil Aviation Minister
- Addressing Wings India 2024 at Begumpet Airport in Hyderabad, he stated the domestic passenger traffic, which was 60 million in 2014 grew to 145 million pre-Covid and it further went up to 153 million in 2023.
- He stated despite the projected growth of 300 million by 2030, India will be one of the most under penetrated markets across the top 20 markets in the world.
- The domestic passenger traffic in the last 10 years grew at CAGR of 15.3 per cent while international traffic grew at 6.1 per cent.
- India is the third-largest domestic civil aviation market and seventh-largest international civil aviation market. If both are combined, India is the fifth-largest civil aviation market in the world.
- The minister stated that India has become the largest purchaser of aircraft in the world after the United States and China.
- He expects that India’s fleet will go up from 713 to more than 2,000 in the next decade.
- He noted that the country, which had 400 aircraft in 2013-14, has grown its fleet to 713
CURRENT AFFAIRS: ACQUISITIONS & MERGERS
Airbus and Tata’s Joint Venture: Paving the skies with cutting-edge pilot training in Gurugram
- In adherence to its ‘Skill India’ commitment, Airbus has formed a 50:50 joint venture with Tata-owned Air India, marking a significant stride in launching a world-class pilot training center in Gurugram, Haryana.
- The Tata Airbus Training Centre is geared to provide A320 and A350 flight training for approximately 5,000 new pilots over the span of the next 10 years.
- Covering a vast 3,300 sq.mt., the center is set to feature 10 Full Flight Simulators (FFS), dedicated flight training classrooms, as well as briefing and debriefing rooms, forming a comprehensive Airbus Flight Training Device setup.
- With a slated operational kickoff in early 2025, the training center’s initial phase will see the installation of four A320 FFS.
- Courses offered at the Tata Airbus Training Centre will receive approval from both the Directorate General of Civil Aviation (DGCA) and the European Union Aviation Safety Agency (EASA).
- Simultaneously, Airbus has entered a partnership with GMR Aero Technic to provide Aircraft Maintenance Engineering training courses at GMR’s facility in
CURRENT AFFAIRS: SCIENCE & TECHNOLOGY
First tests for Indian Space Station expected next year: ISRO chief
- ISRO plans to carry out the first tests of the proposed Bharatiya Space Station next year and talks are on with the industry to manufacture, test and launch its first module by 2028, the space agency’s chief S Somanath stated.
- Interacting with reporters on the sidelines of the India International Science Festival, he stated India’s first mission to Venus is also likely to be launched in 2028 and engineers are working on bringing down costs on certain high-value components.
Last year, Prime Minister Narendra Modi set ISRO a target to launch the Bharatiya Space Station by 2035 and land an Indian astronaut on the moon by 2040.
About ISRO:
- Headquarters: Bengaluru
- Founder: Vikram Sarabhai
- Founded: 15 August 1969
- Chairperson: Somanath
- Owner: Government of India
Japan aims for Lunar success with smart lander mission on January 20
- In a bid to overcome setbacks, Japanis set to attempt a soft landing on the moon’s surface with the Smart Lander for Investigating Moon early on January 20.
- The country seeks to join the exclusive club of nations achieving a successful soft landingon the moon.
- The United States, Russia (erstwhile USSR), China, and India have accomplished this feat, leaving Japan eager to overcome its exclusion.
- Designed to land within 100 meters of its target, SLIM aims to revolutionise lunar exploration.
- JAXA Director Hiroshi Yamakawa envisions the mission enabling precise landings, marking a new era in lunar exploration.
Historical Rivalry and Recent Challenges
- Japan, having launched its first satellite ahead of China in 1970, has faced challenges in recent years.
- China’s notable achievements, including a soft landing on the moon’s far side in 2019 and a Mars landing in 2021, have added pressure on
- Despite past lunar attempts, Japan’s space agency, JAXA, faced setbacks with a lunar lander in 2022 and a communication failure with a craft in April 2023. Technical challenges, including the failure of the H3 heavy-lift rocket and an explosion involving the Epsilon rocket, have also impeded progress.
- Major Japanese corporations, including Toyota and Honda, are now collaborating with JAXA on lunar projects.
- Success in lunar exploration could strengthen Japan’s position in the evolving “moon economy.” Corporate partnerships with entities such as Japan Airlines, Mitsui Sumitomo Insurance, and Citizen.
Strategic Importance and Security Concerns
- Internationally, Japan aims to enhance its security presence in space.
- The recent addition of spy satellites to Japan’s network aligns with the regional race for space
- In the face of competition, reinforcing space-based surveillance and communication capabilities is crucial for military purposes.
- As Japan sets its sights on the lunar landing, the mission will be live-streamed on JAXA’s YouTube channel, providing transparency and engagement with the public. The expected landing shortly after midnight on January 20 Tokyo time marks a significant moment in Japan’s space exploration endeavours.
One Liner: January 20
- ICICI Prudential Life Insurance has launched ICICI Prudential Guaranteed Pension Plan Flexi with Benefit Enhancer.
- Capital markets regulator Securities and Exchange Board of India (SEBI) has renewed its recognition for AMC Repo Clearing Limited as a clearing corporation for one year, allowing it to clear and settle transactions in repo and reverse repo in debt securities.
- The Reserve Bank of India (RBI) has proposed a phased transition to tighten regulations for housing finance companies (HFCs), aligning them more closely with non-banking financial companies (NBFCs).
- Life Insurance Corporation of India (LIC) has surpassed State Bank of India (SBI) to become the most valued public sector undertaking (PSU) firm in India by market valuation.
- Japan signed a deal with its ally the United States to buy 400 long-range Tomahawk missiles as it ramps up its military capacity to counter regional security threats.
- Indian Prime Minister, Shri Narendra Modi inaugurated the new state-of-the-art Boeing India Engineering & Technology Center (BIETC) campus in Bengaluru, Karnataka
- The Prime Minister, Shri Narendra Modi laid the foundation stone of 8 AMRUT (Atal Mission for Rejuvenation and Urban Transformation) projects worth around Rs. 2,000 crores in Solapur, Maharashtra.
- REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honoured with the prestigious Scope Excellence Award in the category of Special Institutional Category
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy will unveil a 125-foot statue of Dr B R Ambedkar at Swaraj Maidan in
- Inaugurating the International Kolkata Book Fair, West Bengal Chief Minister Mamata Banerjee stated that relations between India and the UK have spanned over a long time since the Battle of Plassey in 1757.
- The Assam Government, led by Chief Minister Himanta Biswa Sarma, reinstated the traditional buffalo fight (Moh-Juj) after a nine-year hiatus.
- Indian superstar Hrithik Roshan joins the 3rd season of RuPay Prime Volleyball League powered by A23 as the brand ambassador.
- Addressing Wings India 2024 at Begumpet Airport in Hyderabad, he stated the domestic passenger traffic, which was 60 million in 2014 grew to 145 million pre-Covid and it further went up to 153 million in 2023.
- In adherence to its ‘Skill India’ commitment, Airbus has formed a 50:50 joint venture with Tata-owned Air India, marking a significant stride in launching a world-class pilot training center in Gurugram, Haryana.
- ISRO plans to carry out the first tests of the proposed Bharatiya Space Station next year and talks are on with the industry to manufacture, test and launch its first module by 2028, the space agency’s chief S Somanath stated.
- In a bid to overcome setbacks, Japanis set to attempt a soft landing on the moon’s surface with the Smart Lander for Investigating Moon early on January 20.
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