Some lines of current affairs 03 February 2024 news
1. Putin Kicks Off Russia’s 2024 BRICS Chairmanship
- On January 1, Russian President Vladimir Putin officially started Russia’s leadership role in BRICS for 2024. The main goal is to strengthen partnerships among the BRICS nations – Brazil, Russia, India, China, and South Africa – in politics, security, economy, finance, culture, and humanitarian efforts.
- President Putin highlighted the motto for this term, which is “Strengthening Multilateralism for Equitable Global Development and Security.” This shows Russia’s dedication to working together with other BRICS countries.
- Putin also outlined Russia’s priorities, which cover various areas such as science, technology, healthcare, environmental protection, culture, sports, youth exchanges, and civil society.
2. IMF To Release $700 Million Bailout Tranche To Pakistan In January
- Cash-strapped Pakistan is about to receive an important $700 million financial help from the International Monetary Fund (IMF) on January 11. This money is part of a $3 billion agreement they have with the IMF, and it will give much-needed support to Pakistan’s struggling economy.
- On January 11, the IMF Executive Board will discuss Pakistan’s situation and likely approve the release of the $700 million. The current agreement, which started in 2019, is set to finish in April 2024, and there’s still around $1.8 billion left to be given.
3. CM Yogi Adityanath Inaugurates UP’s First Floating Restaurant In Prayagraj
- Chief Minister Yogi Adityanath recently opened Uttar Pradesh’s first floating air-conditioned restaurant in Sangam City. This unique restaurant is managed by the Uttar Pradesh State Tourism Development Corporation (UPSTDC) and is located on the beautiful Yamuna river. It’s expected to offer a special dining experience for people visiting Prayagraj.
- The floating restaurant, which can accommodate about 40 guests at a time, serves a variety of delicious food and drinks, including sizzler steaks and mocktails. This new attraction is set to redefine the dining scene in Prayagraj.
4. Jharkhand Reduces Age Limit For Old-Age Pensions To 50
- In a big step to help certain groups of people and address their difficulties, Chief Minister Hemant Soren of Jharkhand has decided to make it easier for some individuals to get old-age pensions. The age at which people can qualify for these pensions has been reduced from 60 to 50 years. This change is specifically aimed at helping tribals and Dalits, recognizing the unique challenges they face.
- The goal of this initiative is to provide financial support to a larger group of people who might be struggling. By offering pension benefits to tribals and Dalits at the age of 50, Chief Minister Soren is acknowledging the challenges these communities face, including a higher rate of death and fewer job opportunities after the age of 60.
5. Assam CM Launches 200 Eco-Buses In Guwahati To Combat Pollution
- Assam’s Chief Minister, Himanta Biswa Sarma, started 200 electric buses in Guwahati, taking a big step for the environment. This is a major effort by the state government to make Assam’s air cleaner.
- CM Sarma has a bold vision: he wants Guwahati to be the first city in India with a 100% green public transportation system by 2025. This matches the global effort for cleaner ways of getting around.
- Besides the electric buses, CM Sarma also introduced the National Common Mobility Card (NCMC) in Guwahati. It’s a versatile card that makes travel, toll payments, and shopping easier.
6. PM Modi Launches Projects Worth Rs 20,000 Crore In Tamil Nadu
- Prime Minister Narendra Modi started several projects in Tiruchirappalli, Tamil Nadu, that are valued at over Rs 20,000 crore. One of these projects is a new building at Tiruchirappalli International Airport, costing more than Rs 1100 crore. The modern terminal is designed to serve over 4.4 million passengers each year, improving air travel in the region.
- These projects cover different areas like railways, roads, oil and gas, and shipping. They are expected to contribute significantly to the progress of the state, creating job opportunities for many people and improving travel facilities.
7. India Inc’s Investment Slump Persists In FY24’S First Nine Months: Bank Of Baroda Analysis
- India’s businesses invested ₹10.80 lakh crore in the first nine months of the financial year 2024. This has raised concerns because it is less than expected, according to the Bank of Baroda’s Economic Research Department (ERD).
- The analysis, based on data from CMIE, shows that industries, especially in aviation, chemicals, machinery, and power sectors, are being cautious. The total investments in the financial year 2024 are ₹10.80 lakh crore, which is significantly lower compared to ₹21.89 lakh crore in the same period in the financial year 2022 and ₹13.22 lakh crore in the financial year 2021.
- The most recent data, excluding the pandemic-affected year 2020, indicates the lowest investment figures, suggesting hesitancy in the industry. In the third quarter of the financial year 2024, there was a slight increase to ₹2.15 lakh crore, but it is still much lower than the figures from the past 10 quarters.
8. Tata Pay Secures RBI Payment Aggregator License For E-Commerce Transactions
- Tata Pay, a digital payments app by Tata Digital, got a special license from the Reserve Bank of India (RBI). This license allows Tata Pay to handle online transactions better, similar to other popular apps like Razorpay, Cashfree, and Google Pay.
- Now, Tata Pay can efficiently manage online buying and selling within its group of companies. This license also helps them handle money more effectively. Other companies, like DigiO, which is a Bengaluru-based startup supported by Groww, also got similar licenses. This allows them to combine their digital identity verification services with online payment options.
9. Household Financial Savings And Liabilities In India: RBI’s Assessment
The Reserve Bank of India (RBI) recently shared a report about the money situation of people and families in the financial year 2022-23 (FY23). Here are the key points:
- The report mentions that the amount of money households save has gone down to 10.9% of the country’s total earnings, which is called Gross Domestic Product (GDP). However, the report also says that there is not a big risk of people not being able to pay back the money they owe. This is because most people have manageable loans for buying houses and are not affected much by changes in interest rates.
- The report highlights that people are taking more loans and owe more money compared to the previous year. In FY22, people owed 3.8% of the GDP, but in FY23, it increased to 5.8%. This increase is mainly because more people are borrowing money to buy things like houses and vehicles.
- On the other hand, the report mentions that there was a small decrease in the value of money people have in investments like stocks and bonds. In FY22, it was 11.1%, but in FY23, it went down slightly to 10.9%.
10. Flipkart’s Binny Bansal Launches OppDoor
- Binny Bansal, who co-founded Flipkart, has started a new business called OppDoor in the online shopping world. OppDoor’s goal is to help online shopping companies expand globally by providing all-in-one solutions.
- This is interesting because Binny Bansal was not allowed to start a new online business for five years after selling Flipkart to Walmart. Now, with OppDoor, he is taking advantage of the freedom he gained after the waiting period ended.
11. Ola Electric Becomes First Indian EV Company To Get PLI Nod
- Ola Electric, an electric scooter company in India, has achieved an important milestone. They are now eligible for government incentives through the Production-Linked Incentive (PLI) scheme. This scheme requires companies to meet certain criteria, like ensuring at least 50% of their electric vehicles are made using materials from India.
- Ola Electric is the first e-scooter company in India to meet these requirements, opening the door for potential financial benefits of INR 15,000 to 18,000 per scooter. This is good news for the company and the electric vehicle industry in India.
12. India Unveils ‘National Single Window System’ By TCS To Simplify Medical Device Imports
- India’s Central Drugs Standard Control Organisation (CDSCO) has launched a new online system called the ‘National Single Window System (NSWS)’ to make it easier for companies to bring in medical devices from other countries. This system was created by Tata Consultancy Services (TCS) and is set to start working on January 1.
- The goal of this initiative is to have a central place where businesses can get all the necessary approvals for importing medical devices. The NSWS, developed by TCS in collaboration with Invest India, simplifies the process of getting certificates and licenses for manufacturing or importing medical devices for various purposes like clinical investigations, tests, evaluations, demonstrations, or training. The aim is to make it more convenient for investors and improve the overall business environment.
13. International Mind-Body Wellness Day 2024
- Every year on January 3, people all around the world celebrate International Mind-Body Wellness Day. It’s a day focused on promoting the balance between physical and mental health.
- This special day reminds us that our mind, body, and spirit are all connected, highlighting how important it is to take care of ourselves in a complete way.
- International Mind-Body Wellness Day encourages everyone to make self-care a priority, practice mindfulness, and make healthy lifestyle choices. In the midst of our busy lives, it’s a reminder to pause and actively do things that contribute to our overall well-being.
14. Rajasthan Seeks Integration Of Chiranjeevi Scheme With Ayushman Bharat
- The new government in Rajasthan, led by BJP, wants to combine its state health insurance plan, Chiranjeevi, with the national Ayushman Bharat program. If approved by the central health ministry, they plan to create a single program called Ayushman Bharat Mukhyamantri Chiranjeevi Health Insurance Scheme.
- This integrated plan will keep the existing benefits of Chiranjeevi, offering a substantial ₹25 lakh insurance coverage for both private and government hospitals. The Chiranjeevi scheme, first introduced by former Chief Minister Ashok Gehlot of the Congress party, currently provides much higher coverage compared to Ayushman Bharat’s ₹5 lakh.
15. Hyderabad, Bengaluru Airports Score High In Global On-Time Ranking
- In a recent report by a company called Cirium that looks at how well airports stick to their schedules, Hyderabad and Bengaluru airports were found to be among the best in the world for being on time. Hyderabad got the second position, and Bengaluru got the third. These airports are doing well, with more than 84 percent of flights leaving on time. This shows that they are focused on making air travel efficient and reliable.
- IndiGo, an airline, is also helping with on-time arrivals. It got the fourth position among airlines in the Asia Pacific region, with more than 82 percent of its flights arriving on time. IndiGo is a significant part of why these airports are so punctual, operating about half of all flights in Bengaluru and 65 percent in Hyderabad.
16. France And Germany To Provide 100 Million Euros For AMRUT Mission Financing
- France and Germany are talking to India about giving a €100 million loan to support the country’s urban infrastructure plan, specifically the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0. They recently worked together on the City Investments to Innovate, Integrate, and Sustain (CITIIS) 2.0 program, showing their ongoing dedication to helping India develop its cities sustainably.
- The CITIIS 2.0 program, which spans four years, focuses on improving cities and managing waste in a way that is good for the environment. France and Germany have each contributed €100 million to this program, emphasizing their joint commitment to supporting India’s sustainable urban development.
17. Kia India Appoints Gwanggu Lee As New MD And CEO
- Kia India has appointed Gwanggu Lee as its new leader. He is now the Managing Director and Chief Executive Officer. This change is important because Gwanggu Lee is taking over from the previous leader, Tae Jin Park.
- Gwanggu Lee is the third person to take on the role of Managing Director and CEO at Kia India, following Kook Hyun Shim and Tae Jin Park. Tae Jin Park, the previous leader, is retiring after 36 years with Kia Corporation, including four years at Kia India.
18. NIVEA India Appoints Geetika Mehta As New Managing Director
- Nivea India, a company that makes personal care products, has chosen Geetika Mehta as its new boss. This is a big move for the famous brand. Mehta has a good history of making small businesses grow and managing big companies successfully.
- She was recently in charge at Hershey India, a big candy company, starting in July 2021. Before that, she spent almost 20 years at Hindustan Unilever Ltd, a big company that makes consumer goods. During that time, she worked in different roles in various parts of the company.
19. Chadian Opposition Leader Succes Masra Appointed Transitional PM
- Chad’s temporary government is moving closer to letting regular people lead by choosing Succes Masra, a former opposition leader, as the prime minister. This decision follows several months of political unrest and protests against the military leaders who took charge in April 2021 after the death of the long-time leader, Idriss Deby Itno.
- Succes Masra, who leads The Transformers party, became an important figure opposing the military rulers who took over Chad last year. His strong disagreement with the government that came into power after Deby’s death shows the widespread disapproval of the military being in charge of the country.
20. Padma Bhushan Awardee Prof Ved Prakash Nanda Passes Away
- Professor Ved Prakash Nanda, a highly respected figure in the Indian community, recently passed away. He made significant contributions to literature, education, and international law throughout his life.
- Born in 1934 in Gujranwala, British India, he and his family moved to India after the partition in 1947.
- Prof. Nanda had an impressive career and was honored with the Padma Bhushan in 2018 for his commitment to academia, international law, and promoting global understanding.
21. Francoise Bettencourt Meyers Becomes First Woman With $100 Billion Fortune
- Francoise Bettencourt Meyers has become the first woman ever to have a massive fortune of $100 billion. Her wealth reached this incredible amount, $100.1 billion to be exact, according to the Bloomberg Billionaires Index.
- This remarkable achievement happened at the same time that the shares of L’Oréal SA, a company her grandfather started, reached a record high. The stock is having its best year since 1998, making her the 12th richest person in the world, just behind Carlos Slim from Mexico.
22. Jammu And Kashmir Becomes First UT To Implement PM Vishwakarma Yojana
- Jammu and Kashmir has done something important to support its talented artisans and craftspeople. It is the first Union Territory to start the PM Vishwakarma Yojana (PMVY), a program from the government. This program, which began in September 2023, aims to help and acknowledge the important role these skilled individuals play in preserving and enhancing India’s cultural heritage.
- On January 2, 2024, J&K officially launched PMVY, making it a special day for the Union Territory. At the launch event, a training program started for the first group of 30 trainees (Viswakarmas) who are focusing on ‘darzi craft’.