- National:
- The SVAMITVA scheme is doing great work granting ownership rights and providing security to rural property owners. Distributing 1.25 crore property cards is a significant achievement with wide-ranging benefits for those who have received them.
- The Jharkhand Chief Minister, Hemant Soren, announced that the age limit for old-age pensions will be lowered from 60 to 50 for Scheduled Castes (SCs), Scheduled Tribes (STs), and Other Backward Classes (OBCs). This decision was made to benefit Adivasi and Dalit beneficiaries.
- The North Eastern Handicrafts and Handloom Development Corporation (NEHHDC) has established the Ashtalaxmi Haat at the NEHHDC Campus in Garchuk, Guwahati. This initiative is inspired by the success of the renowned Dilli Haat in Delhi. The Ashtalaxmi Haat aims to promote the rich cultural heritage and exquisite craftsmanship of the Northeastern region.
- The 10th edition of Sagar Parikrama, also known as Phase X, is being organized from 1st January 2024 to 6th January 2024 at various locations of Andhra Pradesh and Puducherry. The event is attended by the Union Minister for Fisheries, Animal Husbandry and Dairying, Shri Parshottam Rupala, along with the Minister of State Dr. L Murugan. During the event, Kisan Credit Cards (KCC) are distributed to beneficiaries like fishermen, aqua farmers, and other stakeholders.
- Vice Admiral Kiran Deshmukh, AVSM, VSM, has assumed charge as the Chief of Materiel of the Indian Navy on January 1, 2024. He is an alumnus of VJTI, University of Mumbai, and was commissioned as an Engineer Officer into the Indian Navy on March 31, 1986.
- International:
- The BRICS group, which originally consisted of Brazil, Russia, India, China, and South Africa, has expanded to include five new members. The new members that joined on January 1, 2024, are Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. This expansion is seen as a strategic move to counter Western dominance.
- Banking:
- The Reserve Bank of India (RBI) has stated that the transmission of monetary policy to bank lending and deposit rates has been stronger in this cycle compared to previous ones. This means that the changes in the policy rates set by the RBI are being reflected more quickly in the interest rates that banks offer to their customers.
- The State Bank of India (SBI) is authorized to issue and encash electoral bonds through 29 branches. These bonds, introduced for transparent political funding, can be bought by citizens or established entities. The sale is from January 2 to 11, 2024. Only registered political parties that secured at least one per cent of votes in the last General Election are eligible to receive these bonds. The bonds are valid for 15 days from the date of issue.
- The North Eastern Development Finance Corporation (NEDFi) has sanctioned over ₹750 crores for more than 5,300 projects in the Northeast. This is part of NEDFi’s concerted effort to identify and nurture potential first-generation local entrepreneurs and provide finance on easy terms.
- Govt. Schemes:
- The Indian government has indeed extended the Production Linked Incentive (PLI) scheme for the automobile and auto component industry by one year. The Ministry of Heavy Industries has made partial amendments to the scheme to provide clarity and flexibility to the industry. The PLI scheme, which was initially in place from FY 2022-23 to FY 2026-27, will now be active until FY 2027-28.
- Important Days:
- The Defence Research and Development Organisation (DRDO) celebrated its 66th Foundation Day on 1st January 2024. The Secretary of the Department of Defence R&D and Chairman of DRDO, Dr. Samir V Kamat, paid floral tributes to the Missile Man of India and former President, Dr. APJ Abdul Kalam. The 66th DRDO Foundation Day was also celebrated at the Combat Vehicles Research and Development Establishment (CVRDE) at suburban Avadi.
- Appointments:
- The Indian government has indeed appointed Arvind Panagariya, a former Vice Chairman of NITI Aayog and a professor at Columbia University, as the Chairman of the Sixteenth Finance Commission. This commission has been constituted with the approval of the President. The other members of the commission will be notified separately.
- NIVEA India has appointed Geetika Mehta as its new managing director on 2nd January 2024. Mehta is an IIM alumnus who has over two decades of experience in the FMCG sector. She was previously the MD of Hershey India for 2.5 years and before that, she worked at Hindustan Unilever for 18 years. She has led various categories such as soups, noodles, spice mixes, laundry detergents, and home and hygiene products in different markets. She plans to focus on innovation, customer experiences, and solidifying NIVEA’s position in the skincare market.
Questions:
Q.1 Who has been appointed as the new managing director of NIVEA India on 2nd January 2024?a. Geetika Mehta
b. Hershey India
c. Hindustan Unilever
d. IIM Alumnus
Q.2 Who is the Secretary of the Department of Defence R&D and Chairman of DRDO?
a. Dr. APJ Abdul Kalam
b. Dr. Samir V Kamat
c. Dr. Ramesh Pokhriyal
d. Dr. Harsh Vardhan
