Current Affairs by Kush Pandey: 5TH February 2024

Revision Questions  The Immediate Payment Service (IMPS) transaction

1. As of January 26, 2024, according to the Reserve Bank of India amount was down by 0.7% during the month to Rs 5.66
(RBI), India’s forex reserves increased from USD 591 million to trillion in January 2024, compared to Rs 5.7 trillion in
__________ for the week ended January 26, 2024. December 2023.
A. USD 650.733 billion  FASTag transactions in January 2024 dipped by 5% from
B. USD 623.733 billion 348 million in December to 331 million in January 2024.
C. USD 616.733 billion  In January, Aadhaar Enabled Payment System (AePS)
D. USD 622.733 billion was down by 8% to Rs 23,057 crore, compared to Rs
E. USD 641.733 billion 25,162 crore in December 2023.
Ans: C  जनवरी में, आधार सक्षम भुगतान प्रणाली (एईपीएस) 8%
2. In February 2024, India has formally launched Unified Payment
Interface (UPI) in ________. घटकर 23,057 करोड़ रुपये रह गई, जबकक किसंबर 2023 में
A. Singapore यह 25,162 करोड़ रुपये थी।
B. Australia
C. Canada
D. Hong Kong 2. ESAF Small Finance Bank and Edelweiss Tokio Life
E. France Insurance Partner to Offer Life Insurance
Ans: E
3. In February 2024, which of the following banks became the  ESAF Small Finance Bank has officially entered into a
fifth bank in India to have a market capitalization of Rs 1 lakh bancassurance partnership with Edelweiss Tokio Life
crore? Insurance.
A. Punjab National Bank  The partnership plays a crucial role in ESAF Small
B. Union Bank of India Finance Bank’s strategy to broaden its range of offerings,
C. Indian Overseas Bank demonstrating its commitment to providing financial
D. Canara Bank security to a more extensive segment of the unbanked
E. Bank of Baroda and under-banked population.
Ans: C  MD and CEO, ESAF Small Finance Bank: K. Paul Thomas
4. In January 2024, which of the following countries overtook  MD & CEO, Edelweiss Tokio Life Insurance: Sumit Rai
Japan to become the world's biggest vehicle exporter in 2023?
A. Germany 3. Govt aims to collect $1.7 billion revenue from online
B. France gambling tax in FY25
C. China
D. India
E. The USA  Revenue Secretary Sanjay Malhotra informed Indian
Ans: C expects to collect up to Rs 14,000 crore ($1.7 billion) in
5. In February 2024, Prime Minister Narendra Modi has laid the goods and services tax (GST) next financial year by
foundation stone of Talabira Thermal Power Project of Neyveli taxing online gambling companies.
Lignite Corporation India Limited, under the Coal Ministry in  In October 2023, the government imposed a 28% tax on
_________. funds that online gaming companies collect from their
A. Jharkhand customers for every bet, shocking a nascent $1.5 billion
B. Chhattisgarh industry.
C. Odisha
D. Andhra Pradesh 4. BoM records highest growth in deposit mobilisation
E. Telangana among PSU banks in Q3
Ans: C
 Bank of Maharashtra (BoM) has recorded the highest
Banking & Finance growth rate in terms of deposit mobilization among
1. UPI transactions reach a record Rs 18.41 trillion in public sector lenders at a time when most lenders are
January: NPCI data facing difficulty in achieving double-digit growth.
 Unified Payment Interface (UPI) transactions clocked a  Bank of Maharashtra (BoM) has recorded the highest
new high in value in January 2024 by touching Rs 18.41 growth rate in terms of deposit mobilization among
trillion, up marginally by 1 per cent from Rs 18.23 public sector lenders at a time when most lenders are
trillion in December 2023. facing difficulty in achieving double-digit growth.
 Transactions increased by 1.5% to 12.20 billion,  BoM reported a 17.89% growth in deposits followed by
compared to 12.02 billion in October 2023. SBI at 12.84% during the quarter.
 In November, value was seen at Rs 17.4 trillion with 11.4  Central Bank of India was the third by clocking a 9.53%
billion transactions. growth in deposits while Punjab National Bank recorded
 In January 2024, the numbers were 52% higher in a 9.10% increase.
volume and 42% higher in value compared to the  In terms of low-cost CASA deposits, BoM continued to
January 2023. top the chart with 50.19% followed by the Central Bank
of India with 48.98%.
 Current Affairs by Kush Pandey: 5TH February 2024
 In terms of Net NPAs, BoM and Indian Bank reported the  The Exim Bank had to invoke the guarantees after
lowest net NPA with 0.22% and 0.53% respectively. decade-plus old loans extended to some African
 Capital Adequacy Ratio (CRAR), BoM with 16.85% is the countries turned into non-performing assets.
highest amongst PSBs followed by IOB at 16.80%.  Lines of Credit (LOCs) are given to other countries and
 PNB had the highest quarterly net profit growth with some of these to African countries have turned into
253% (Rs 2,223 crore) followed by Bank of India with NPAs.
62% growth (Rs 1,870 crore) and Union Bank of India  Government-supported LOCs to countries of Asia
with 60% (Rs 3,590 crore). (excluding Bangladesh, Nepal, and Bhutan) Africa, the
Commonwealth of Independent States region, and Latin
5. RBI imposes ₹5 lakh penalty on Bajaj Housing Finance American region are extended under the Indian
Development and Economic Assistance Scheme.
 The MEA has provided a further Rs 4,383.40 crore in
 Reserve Bank has imposed a penalty of Rs 5 lakh on Bajaj
2024-25 towards payment to Exim Bank towards
Housing Finance for non-compliance with certain
guarantees that may be invoked against doubtful debts,
regulatory provisions.
indicating more such loans to countries might get
 The penalty has been imposed for contravention of
classified as NPAs in the coming years.
certain provisions of the 'Non-Banking Financial
 LOCs were ‘Government-to-Government’ credit lines as
Company - Housing Finance Company (Reserve Bank)
the agreements were signed between the Indian
Directions, 2021.
government and the government of the recipient
 The Reserve Bank of India (RBI) said the Pune-based
country.
company did not take prior written permission from RBI
 Since 2003-04, this system has been substituted by
for change in management, resulting in a change in more
extending GoI-supported LOCs through Exim Bank of
than 30% of the directors, excluding independent
India.
directors.

8. Government boosts Sovereign Gold Bond issuance to 3,500

6. IRDAI mandates AYUSH option in health covers
crore in 2024-25

 The insurance regulator, IRDAI has asked general

 India doubles Sovereign Gold Bond (SGB) issuance to
insurers to put Ayurveda, Yoga, Naturopathy, Unani,
₹3,500 crore for the next fiscal year, emphasizes SGB's
Siddha, and Homeopathy (AYUSH) at par with other
success in steering investor interest away from physical
medical treatments in their health insurance policies,
gold.
citing “increased popularity”.
 The allocation for SGBs has more than doubled, rising
 बीमा ननयामक, IRDAI ने "बढी लोकप्रप्रयता" का हवाला िे ते from ₹1,500 crore in the financial year ending March 31,
हुए, सामान्य बीमाकतााओं से अपनी स्वास््य बीमा पॉनलनसयों 2023, to a significant ₹3,500 crore for the fiscal year
2024-25.
में आयुवि
े , योग, प्राकृ नतक निककत्सा, यूनानी, नसद्ध और
होम्योपैथी (आयुष) को अन्य निककत्सा उपिारों के बराबर International News
रखने के नलए कहा है ।
 IRDAI also asked general insurance companies to have 1. Mukesh Ambani highest placed Indian, No.2 globally in
board-approved policy guidelines for AYUSH coverage Brand Guardianship Index 2024
and give policyholders an option to choose the
treatment of their choice.  Billionaire Mukesh Ambani has been ranked first among
 The guidelines will be effective from April 1, 2024. all Indians and second globally in the Brand
 The General Insurance Council (GIC), which represents Guardianship Index 2024 compiled by Brand Finance.
general insurance companies, recently launched an  The chairman and managing director of Reliance
initiative providing cashless treatment available to Industries Ltd overtakes the likes of Microsoft’s Satya
policyholders even in non-empaneled hospitals that are Nadella, and Google’s Sundar Pichai to be ranked No.2
registered under the Clinical Establishment Act. globally only behind Tencent’s Huateng Ma..
 The Brand Guardianship Index is a global recognition of
7. Govt gives Rs 9,000 crore to Exim Bank as loans extended CEOs, who are sustainably building business value, by
to foreign countries turn NPAs balancing the needs of all stakeholders – employees,
investors, and the wider society.
 With loans to some countries extended through Exim  Tata Sons chairman N Chandrasekaran is ranked at No.5,
Bank of India being classified as “doubtful debt” in 2023- up from No.8 in the 2023 ranking. He is followed by
24. Anish Shah of Mahindra & Mahindra at No.6 and Infosys’
Salil Parekh at No.16.
 The Ministry of External Affairs has provided Rs
9,013.72 crore to the financial institution after it invoked  Jio had topped India’s strong brands in Brand Finance’s
the Government of India (GoI) guarantee on these loans. 2023 rankings as well.
 Current Affairs by Kush Pandey: 5TH February 2024
National News  These initiatives were powered by cutting-edge
technologies such as the Automated DNA Extractor
1. Government offers ‘Bharat’ Rice at ₹29/kg in Retail Market Machine, epitomizing India’s commitment to innovation
and indigenous manufacturing under the Make in India
initiative.
 The Government of India has unveiled the ‘Bharat’ brand
 Aim: To collect and analyze genetic data from diverse
rice, under which rice will be available in 5-kg and 10-kg
populations.
packs at ₹29 per kg.
 BHU’s DNA banks empower healthcare professionals to
 This brand was launched to address market volatility
deliver personalized medical interventions.
and ensure affordability for consumers.
 It is provided through cooperatives such as Nafed, NCCF,
and Kendriya Bhandar. State News
 In the initial phase, the government has allocated 5 lakh
tonnes of rice to cooperatives for retail sale. 1. Tamil actor Vijay announced the formation of his political
 Quality: The rice packed under the ‘Bharat’ brand party, ‘Tamilaga Vettri Kazhagam'
contains less than 5% broken grains.
 Tamil actor Thalapathy Vijay announced the formation
of a political party 'Tamilaga Vettri Kazhagam'.
 Commitment: "Fundamental political change" with
2. NCPCR Launches GHAR Portal for Child Restoration and transparent, caste-free, and corruption-free
Repatriation administration
 His party will run in the 2026 Tamil Nadu Assembly
polls.
 The Ministry of Women and Child Development has
pioneered the development of two pivotal portals i.e. the
Track Child Portal and the GHAR – GO Home and Re- 2. Uttarakhand Police Adopt Self-Balancing e-scooters For
Unite Portal. Smart Patrols
 These platforms play a crucial role in tracking missing
and found children, enhancing restoration and  In Uttarakhand, Director General Abhinav Kumar
repatriation processes, and safeguarding the welfare of inaugurated a novel approach to law enforcement by
vulnerable minors under the purview of the Juvenile deploying self-balancing electric scooters, to oversee the
Justice system. police operations in Haridwar.
 The Track Child Portal, a flagship initiative of the  It was generously donated by Utkarsh Small Finance
Ministry of Women and Child Development, serves as a Bank.
centralized hub for tracking missing and found children  These eco-friendly vehicles are set to revolutionize
nationwide. police patrol in the bustling streets of Haridwar.
 Developed in collaboration with stakeholders such as  It will also enhance crowd management and promote
the Ministry of Home Affairs, CCTNS (Crime and sustainability.
Criminal Tracking & Network Systems), and various
State Governments/UT Administrations, this platform 3. UP CM Yogi Adityanath Initiated Centralized GIS Data
empowers authorities and citizens alike to monitor the Centre in Ayodhya through ADA
whereabouts of missing children effectively.
 Features: Track Child Portal enables real-time matching
 The Yogi Adityanath-led Uttar Pradesh government will
of FIRs with the database to expedite the tracing of
establish a cutting-edge Centralized GIS Data Centre in
missing children.
Ayodhya under the Ayodhya Development Authority
 Robust SOPs ensure uniformity and efficiency in
(ADA).
utilizing the Track Child Portal across all states and
 ADA will select an agency responsible for setting up and
Union Territories.
operating the Centralized GIS Data Centre.
 Through the “Khoya-Paya” feature, citizens are
 The chosen agency will focus on analyzing ADA’s
encouraged to report sightings or information about
existing infrastructure and equipping it with GIS
missing children, fostering community involvement in
solutions.
child protection efforts.

Important Dates
3. BHU launched Human DNA Bank under Make In India
Initiative
1. World Cancer Day 2024 observed annually on 4th
February
 Banaras Hindu University (BHU) has initiated two
groundbreaking endeavors i.e. the establishment of the
Human DNA Bank and the imminent completion of the  World Cancer Day is an international awareness day led
Wildlife DNA Bank. by the Union for International Cancer Control (UICC)
celebrated on February 4 every year.
 Current Affairs by Kush Pandey: 5TH February 2024
 2024 theme: Together, we challenge those in power  The Government announced honoring Senior BJP Leader
 It has been predicted that cancer cases in India will and the man behind the Ram Janambhoomi movement,
increase to a staggering 2 million by 2040. Lal Krishna Advani, with Bharat Ratna.
 He will be the 50th recipient of the highest civilian
Appointments award since its inception and 7th during the Modi
Government regime.
1. Justice Ritu Bahri takes oath as the first women Chief
Justice of Uttarakhand High Court Sports

 Justice Ritu Bahri took oath as the first woman Chief 1. Abhinav Bindra selected as torchbearer for the 2024 Paris
Justice of Uttarakhand High Cout. Olympics
 The oath of office was administered by Uttarakhand
Governor Lieutenant General Gurmeet Singh (Retd).  India’s first individual Olympic gold medalist and an IOC
 With this appointment, Justice Ritu Bahri has become Athletes’ Commission member, Abhinav Bindra has been
the first woman to hold the position of Chief Justice in selected as the as torchbearer for the 2024 Paris
the history of Uttarakhand High Court. Olympics.
 Previously, she served as a senior judge in the Punjab  The ancient tradition of the Olympic Torch Relay
and Haryana High Court. continues its journey towards Paris 2024, with the flame
set to cross the Mediterranean and embark on a 68-day
2. Northern Ireland appoints Irish nationalist as First adventure across France.
Minister in a historic shift
2. Anderson becomes the oldest pacer to play in a Test in
 Northern Ireland's parliament appointed an Irish India
nationalist as First Minister for the first time, a historic
milestone in a state established a century ago to ensure  England's pace bowler James Anderson made history as
the dominance of pro-British unionists. the oldest pace bowler to participate in a Test match on
 Sinn Fein's Michelle O'Neill appointed First Minister Indian soil.
 At the age of 41 years and 187 days, he achieved this feat
Obituaries during the second Test against India at the YS
Rajasekhara Reddy ACA-VDCA Cricket Stadium in
Visakhapatnam.
1. Namibian President Hage Geingob passes away
 He broke a long-standing record that had persisted in
Test cricket for 72 years.
 Namibian President Hage Geingob passed away at 82  Lala Amarnath, a legendary figure in Indian cricket,
due to cancer. previously held the distinction as the oldest pacer to
 Geingob was the country's third President and had been play a Test in India since 1952.
in office since 2015.  Amarnath was 41 years and 92 days old when he played
 He was currently in his second term. his final Test match against Pakistan at Eden Gardens.
 He also served as the country’s first Prime Minister from  Anderson also became the fifth oldest player to play a
1990 to 2002 under former President Sam Nujoma, after Test in India.
Namibia gained Independence from South Africa.  Zimbabwe player John Traicos has the record by playing
at the age of 45 years 304 days in 1993.
2. Eminent actor and director Sadhu Meher passes away
3. Karnataka beat Andhra Pradesh to clinch Nagesh Trophy
 Eminent actor and director Sadhu Meher, who had made 2023-24
a mark in both Hindi and Odia cine industries, passed
away in Mumbai at 84.  Karnataka has clinched the Nagesh Trophy to win the
 He began his career in 1969 with Hindi films like Men’s National T20 Cricket Tournament for the Blind
‘Bhuvan Shome’, ‘Ankur’, and ‘Mrigaya’ before shifting 2023-24 in Nagpur.
focus to Odia cinema.  Karnataka defeated Andhra Pradesh by nine
 Five years later in 1974, he became the first from Odisha wickets, ending a 20-year wait for a national title.
to win a national award for best actor, for his role in  The Nagesh Trophy is named in memory of the Late SP
Shyam Benegal’s Hindi film ‘Ankur’. Nagesh, Founder and President of the Cricket
Association for the Blind in India and Founder Trustee
Awards of Samarthanam Trust for the Disabled.
 It was organized by the Cricket Association for the Blind
1. L K Advani to be awarded Bharat Ratna in 2024 in India (CABI), the Cricket Association for the Blind in
Vidarbha, and Samarthanam Trust for the Disabled.
 Current Affairs by Kush Pandey: 5TH February 2024

News Connector:
 UPI = transactions = reach = a = record = Rs = 18.41 =
trillion = in = January: = NPCI = data
 ESAF = Small = Finance = Bank = and = Edelweiss = Tokio
= Life = Insurance = Partner = to = Offer = Life =
Insurance
 Govt = aims = to = collect = $1.7 = billion = revenue =
from = online = gambling = tax = in = FY25
 BoM = records = highest = growth = in = deposit =
mobilisation = among = PSU = banks = in = Q3
 RBI = imposes = ₹5 = lakh = penalty = on = Bajaj =
Housing = Finance
 IRDAI = mandates = AYUSH = option = in = health =
covers
 Govt = gives = Rs = 9,000 = crore = to = Exim = Bank = as
= loans = extended = to = foreign = countries = turn =
NPAs
 Government = boosts = Sovereign = Gold = Bond =
issuance = to = 3,500 = crore = in = 2024-25
 Mukesh = Ambani = highest = placed = Indian, = No.2 =
globally = in = Brand = Guardianship = Index = 2024
 Government = offers = ‘Bharat’ = Rice = at = ₹29/kg = in
= Retail = Market
 NCPCR = Launches = GHAR = Portal = for = Child =
Restoration = and = Repatriation
 BHU = launched = Human = DNA = Bank = under = Make
= In = India = Initiative
 Tamil = actor = Vijay = announced = the = formation = of
= his = political = party, = ‘Tamilaga = Vettri = Kazhagam'
 Uttarakhand = Police = Adopt = Self-Balancing = e-
scooters = For = Smart = Patrols
 UP = CM = Yogi = Adityanath = Initiated = Centralized =
GIS = Data = Centre = in = Ayodhya = through = ADA
 World = Cancer = Day = 2024 = observed = annually = on
= 4th = February
 Justice = Ritu = Bahri = takes = oath = as = the = first =
women = Chief = Justice = of = Uttarakhand = High =
Court
 Northern = Ireland = appoints = Irish = nationalist = as =
First = Minister = in = a = historic = shift
 Namibian = President = Hage = Geingob = passes = away
 Eminent = actor = and = director = Sadhu = Meher =
passes = away
 L = K = Advani = to = be = awarded = Bharat = Ratna = in
= 2024
 Abhinav = Bindra = selected = as = torchbearer = for =
the = 2024 = Paris = Olympics
 Anderson = becomes = the = oldest = pacer = to = play =
in = a = Test = in = India
 Karnataka = beat = Andhra = Pradesh = to = clinch =
Nagesh = Trophy = 2023-24