- National:
- On February 9, 2024, One97 Communications Ltd formed a Group Advisory Committee. Chaired by former SEBI Chairman Mr. M. Damodaran, the committee includes professionals like M.M. Chitale and R. Ramachandran. The committee aims to strengthen compliance and regulatory matters.
- Telangana's new government has made a splash with symbolic changes: vehicle registration prefix from "TS" to "TG," redesigning the state emblem and Telangana Talli statue, and adopting "Jaya Jayahe Telangana" as the anthem. This move to distance itself from the previous administration's identity is met with mixed reactions, sparking discussions about symbolism and potential divisiveness.
- On 8th February 2024, Finance Minister Nirmala Sitharaman presented a ‘White Paper’ in the Lok Sabha. The paper highlighted the economic condition of India during the Congress-led UPA regime (2004-2014), stating that the economy had become one of the “fragile five” globally. It pointed out several scams of that period and criticized the UPA for creating economic hurdles.
- Etihad Airways, the national airline of the United Arab Emirates, has indeed become the official sponsor of the Chennai Super Kings (CSK). The partnership was announced during a special ceremony held in Chennai. As part of this collaboration, Etihad aims to enhance the fan experience with engaging activities, promotions, and unique initiatives throughout the upcoming season.
- The Aadi Mahotsav 2024 was inaugurated by President Smt. Droupadi Murmu at Major Dhyan Chand National Stadium in Delhi on 10th February 2024. This annual National Tribal Festival, organized by TRIFED under the aegis of the Ministry of Tribal Affairs, showcases the rich diversity of India’s tribal heritage.
- The Chhattisgarh government has presented a budget of Rs 1.47 trillion for FY 2024-25, with no new taxes imposed. The budget focuses on the economic development of the poor, youth, farmers, and women, and aims to stimulate infrastructure growth and promote employment and livelihood for youth.
- International:
- The headquarters of the Confederation of International Tea Smallholders (CITS) is indeed shifting from China to India. This decision was taken at the 25th session of the FAO Intergovernmental Group on Tea (FAO IGG on Tea) held in Guwahati. The FAO IGG on Tea is the highest global platform for tea where all tea-producing and consuming nations deliberate on trends in production, consumption, trade, and prices of tea.
- Banking:
- On February 9, 2024, the RBI permitted branches of Indian banks in GIFT-IFSC to act as Trading Members or Trading and Clearing Members of the India International Bullion Exchange IFSC Limited (IIBX). Additionally, Indian banks authorized to import gold or silver were allowed to act as Special Category Client 1 of IIBX.
- The Indian Renewable Energy Development Agency Ltd. (IREDA) has received approval from the Reserve Bank of India (RBI) to set up a wholly-owned subsidiary in the International Financial Services Centre (IFSC) situated in GIFT City, Gujarat. This move is expected to open up new business opportunities and establish IREDA’s global presence for the renewable energy sector.
- The Government of India and the Asian Development Bank (ADB) signed a $200 million loan agreement to manage flood and riverbank erosion risks along the Brahmaputra river in Assam on 9th February 2024. The project will stabilize riverbanks, install pro-siltation measures, and build flood embankments in five districts. It is expected to benefit about 1 million people and increase crop production over 50,000 hectares.
- HDFC Bank raised $300 million through its first-ever sustainable finance bond issue on February 7, 2024. The funds will be used for green and social loans, including lending towards electric vehicles, SMEs, and affordable housing. The bonds will be listed on India International Exchange (India INX) in GIFT IFSC.
- Bandhan Financial Holdings Limited (BFHL) has secured the final regulatory approval to acquire AEGON Life Insurance. This approval from the Insurance Regulatory & Development Authority (IRDAI) represents the last regulatory hurdle for BFHL, following consent from the Reserve Bank of India.
- On February 9, 2024, the Reserve Bank of India (RBI) increased the remuneration ceiling for Non-Executive Directors (NEDs) of private sector banks by ₹10 lakh, raising it from ₹20 lakh to ₹30 lakh per annum.
- Economy:
- FAME-II initially reduced the e-two-wheeler subsidy to 15% of the ex-factory price, aiming to push battery performance over capacity. However, as of February 2024, the scheme offers a flat Rs. 20,000 subsidy, potentially benefiting lower-priced models, and is extended until May 2024.
- Mous:
- On February 8, 2024, the Government of Maharashtra and Google signed an MoU at Google’s office in Pune. The collaboration aims to leverage Google’s AI capabilities to provide solutions in sectors like agriculture, healthcare, education, and startups. This includes training for government IT professionals, AI-enabled health screenings, and agricultural insights.
- Apps & Portals:
- Union Minister of Agriculture and Farmers Welfare and Tribal Affairs, Arjun Munda, launched several initiatives on February 8, 2024. These include SARTHI, an Agri-Insurance Sandbox Framework Platform aimed at enhancing the accessibility of crop insurance for farmers. The Krishi Rakshak Portal and Helpline (KRPH) 14447, a multilingual support platform, was also launched to provide real-time resolution of insurance-related grievances.
- Sports:
- Pathum Nissanka made history by becoming the first Sri Lankan batsman to score a double century in One Day Internationals (ODIs). He achieved this remarkable feat in the first ODI against Afghanistan, where he scored an unbeaten innings of 210 runs in just 139 balls, including 20 fours and 8 sixes.
- Important Days:
- National Deworming Day is observed every year on February 10 in India. This initiative was launched by the Government of India in 2015. The aim is to deworm all children between the ages of 1 and 19. This is considered the world’s largest deworming program and targets almost 240 million children that are at risk of acquiring soil-transmitted helminths in India.
- Appointments:
- Lebanese Judge Nawaf Salam was elected as the President of the International Court of Justice on 6th February 2024. He will serve a three-year term. Alongside him, Uganda’s Julia Sebutinde was elected as the vice president.
- The National Payments Corporation of India (NPCI) has appointed Ajay Kumar Choudhary as the non-executive chairman of its board. Choudhary, who is a central banker, has had a career spanning over three decades at the Reserve Bank of India (RBI). He concluded his service as RBI’s executive director in October 2023. He succeeds Biswamohan Mahapatra, who previously served as the non-executive chairman of NPCI.
- Awards & Honours:
- The 2024 Sportstar Aces Awards were held on February 8, 2024. Javelin thrower Neeraj Chopra and para-archer Sheetal Devi were awarded the Sportstar of the Year (Male) and Sportstar of the Year (Female) respectively.
- Obituaries:
- Renowned artist A. Ramachandran passed away due to a prolonged illness at his residence in New Delhi on February 10, 2024. He was known for his monumental canvases, colorful oils, and watercolors. He was 89.
Questions:
Q.1 Who was honored at Jungfrau’s Ice Palace in Switzerland on February 8, 2024?a. Usain Bolt
b. Michael Phelps
c. Neeraj Chopra
d. Simone Biles
Q.2 Where is the headquarters of the Confederation of International Tea Smallholders (CITS) shifting to?
a. Japan
b. India
c. Sri Lanka
d. Bangladesh
