- National:
- Airbus Helicopters and Tata Group announced a partnership on January 26, 2024, to establish India’s first private Final Assembly Line (FAL) for helicopters. It will also do testing, qualification, and delivery of the H125 to customers in India and the region. The FAL will produce Airbus’ H125 helicopter and is expected to commence operations in 2026.
- The new Aadhaar cards and digital copies, which now prominently state they are “proof of identity, not of citizenship or date of birth,” were reported on January 27, 2024. For example, the Election Commission allows using Aadhaar as proof of date of birth for voter enrollment. The visible warning on Aadhaar cards challenges this and other allowances.
- The Integrated Industrial Township in Greater Noida (IITGN) was inaugurated by Prime Minister Narendra Modi on January 26, 2024. It’s a 750-acre project, part of the Delhi-Mumbai Industrial Corridor (DMIC), with an investment of approximately Rs 1,700 crore. The township has attracted eight major companies, creating around 11,000 jobs. It aims to compete with global manufacturing hubs.
- International:
- On January 26, 2024, the International Court of Justice (ICJ) issued a ruling ordering Israel to take all measures within its power to prevent acts of genocide in Gaza. The court did not order a ceasefire but emphasized the urgency of protecting the Palestinian people. The decision is legally binding, but the court has no way to enforce it.
- Banking:
- Canara Bank is indeed aiming to increase its RAM (Retail, Agriculture, and MSME) portfolio to achieve a 60:40 ratio of RAM to corporate mix by March 2026. This move is in line with the bank’s strategy to improve its bottom line. As of now, the ratio of RAM to corporate stands at 56:44. The bank’s increased focus on RAM will also help in improving the Net Interest Income (NII) and the quality of interest.
- Alternative Investment Funds (AIFs) in India are rejecting ‘early exit’ requests from banks and finance companies due to new rules. They are now considering how to handle these investors as they default on ‘capital calls’ from funds. The Reserve Bank of India (RBI) recently issued a directive that bans a bank or Non-Banking Finance Company (NBFC) from investing in any AIF which, in turn, has invested in a company that has borrowed from the investing bank or NBFC.
- Ubuy, a leading international eCommerce platform based in Kuwait, has partnered with Nuvei, a Canadian fintech company, to expand its payment options worldwide. This partnership aims to enhance Ubuy’s customer checkout experience by leveraging Nuvei’s global reach, local payments market expertise, and extensive suite of alternative payment methods (APMs).
- Economy:
- On January 24, 2024, ICRA revised its forecast for bank credit growth in FY24 from 12.8-13% to 14.9-15.3%, which equates to an incremental growth of ₹20.4-20.9 lakh crore. This is expected to result in the highest-ever incremental bank credit growth. However, challenges in deposit mobilisation could temper bank credit expansion to 11.7-12.6% in FY25.
- Sports:
- Rohan Bopanna has achieved a significant milestone in his career. At the age of 43, he became the world’s oldest No. 1 in Men’s Doubles on 27th January 2024 in Melbourne Park. This achievement came after he won his first major doubles title at the 2024 Australian Open with Matthew Ebden.
- Govt. Schemes:
- On January 27, 2024, the Union Cabinet approved a ₹8,500 crore viability gap funding scheme for coal gasification projects. The scheme is divided into three categories, with funds allocated for Public Sector Utilities (PSUs), government and private sector projects, and demonstration projects. The aim is to support infrastructure projects that are economically justified but fall marginally short of financial viability. This is a significant stride towards achieving India’s goal of energy security and cleaner fuels.
- Defence:
- On January 27, 2024, India and France agreed to enhance cooperation in the Southwest Indian Ocean. This includes joint surveillance missions, deepening defense and security partnerships, revitalizing trilateral cooperation with Australia, deepening the one with UAE, and exploring new ones in the region. They also called for the early launching of the Indo-Pacific Triangular Development Cooperation Fund.
- Reports:
- The Archaeological Survey of India (ASI) surveyed the Gyanvapi mosque complex in Varanasi and submitted its report on December 18, 2023. The main findings made public on January 25, 2024, suggest that a large Hindu temple existed at the site before the construction of the current mosque structure during Aurangzeb’s reign in the 17th century. The report is divided into four volumes, with the summary and findings detailed in Volume.
- Awards & Honours:
- Virat Kohli was announced as the ICC Men’s ODI Cricketer of the Year 2023 on January 25, 2024. This is his fourth time winning this award. He had an exceptional year in 2023, scoring a record 765 runs in the World Cup and finishing the year with 1377 runs in total.
Questions:
Q.1 At what age did Rohan Bopanna become the world’s oldest No. 1 in Men’s Doubles?a. 40
b. 41
c. 42
d. 43
Q.2 Who inaugurated the Integrated Industrial Township in Greater Noida (IITGN)?
a. President of India
b. Chief Minister of Uttar Pradesh
c. Prime Minister Narendra Modi
d. Mayor of Greater Noida
