- National:
- The Ministry of Education (MoE) in India, in collaboration with FIFA and the All India Football Federation (AIFF), has launched the Football for Schools (F4S) programme to promote football in Indian schools. The initiative aims to distribute over 11 lakh FIFA footballs across the country and benefit more than 1.50 lakh schools.
- Delhi Lieutenant Governor VK Saxena approved the Delhi Development Authority (DDA) budget of Rs 8,811 crore for FY25. The budget focuses on infrastructural development, including housing, aesthetic upgrades, and heritage preservation. A total of Rs 3,460 crore is allocated for the development of land and physical infrastructure. Rs 1,953 crore is allocated for ongoing housing projects.
- The Bihar government has presented a budget of ₹2.79 lakh crore for the financial year 2024-25. The state has seen a growth rate of 10.64% in the current fiscal, which is the highest in the country. In the previous financial year, 2.5 crore individuals in Bihar have risen above the poverty line.
- Union Home Minister Amit Shah inaugurated the Gandhinagar Premier League (GPL) in Ahmedabad, Gujarat on 12th February 2024. The inauguration was also attended by Indian cricketer Hardik Pandya. The GPL is a cricket tournament for the people of the Gandhinagar Lok Sabha constituency. This event is part of the Sansad Khelkood Mahotsav, an initiative started under the leadership of Prime Minister Narendra Modi.
- The “PURAN” system, developed by the Department of Computer Science at Punjabi University, was launched on February 13, 2024. It enhances the typing experience of the Gurmukhi script on the internet by offering contextually relevant sentence suggestions. The system was recognized as the “Best Research Paper” at an international conference.
- On February 12, 2024, the life-size statue of India’s first Chief of Defence Staff, the late General Bipin Rawat, was unveiled in Dehradun by Defence Minister Rajnath Singh. The unveiling ceremony took place at Tons Bridge School, Dehradun. General Rawat, his wife Madhulika Rawat, and 12 other military personnel were tragically killed in a helicopter crash near Coonoor in Tamil Nadu on December 8, 2021.
- Vasant Panchami, celebrated on 14th February in 2024, marks the onset of spring and is dedicated to Goddess Saraswati, the deity of knowledge and arts. It’s considered auspicious to start learning new things on this day. Celebrations vary by region, with kite flying being common in North India.
- International:
- On February 14, 2024, India and the United Arab Emirates (UAE) signed several agreements to enhance cooperation in various areas, including digital payments, trade, and energy. These pacts were signed during a meeting between Indian Prime Minister Narendra Modi and UAE’s President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi.
- On February 12, 2024, India and Bangladesh inaugurated trade through the Maia (West Bengal) and Sultanganj (Bangladesh) river ports. The first cargo vessels were flagged off from both ports, marking a significant milestone in the trade relations between the two countries. The new route is expected to reduce transportation costs and boost trade, with each cargo vessel capable of transporting 200-300 tonnes of goods.
- Banking:
- The Life Insurance Corporation of India (LIC) has increased its shareholding in SBI Cards and Payment Services from 4.99% to 5.02%. This increase in stake was achieved through the acquisition of a little more than three lakh shares in the non-banking financial company at an average cost of ₹716 per share.
- Bandhan Bank’s loans worth ₹23,300 crore are under a forensic audit by the National Credit Guarantee Trustee Company (NCGTC). The audit is investigating potential evergreening of loans and identifying any fictitious customers. The bank’s CEO, Chandra Shekhar Ghosh, has denied any chance of evergreening.
- Industrial output growth increased in December after falling to an eight-month low in the month before. This suggests a boost in factory production. In terms of inflation, retail inflation dropped to a three-month low in January. It stabilized within the 2-6% band, with the core rate declining to 3.8% in December 2023.
- Economy:
- In January 2024, India's steel exports reached 0.9 million tonnes (mt), up over 30% month over month and 43% year over year. According to preliminary data from the Steel Ministry, the nation was still a net importer for the first ten months of the fiscal year (April through January).
- Mous:
- Embraer Defense & Security and Mahindra Defence Systems have announced a collaboration for the Indian Air Force’s Medium Transport Aircraft (MTA) procurement project on 9th February 2024 in New Delhi. They signed a Memorandum of Understanding (MoU) to jointly fulfill the acquisition of the C-390 Millennium multi-mission aircraft.
- Science & Technology:
- The fungus species Trichoglossum Syamviswanathii was discovered in Kerala, India on February 6, 2024. It was named in honor of Dr. Syam Viswanath, a former director of the Kerala Forest Research Institute (KFRI). This species plays a crucial role in decomposing dead plant material, facilitating nutrient recycling within forest ecosystems.
- Defence:
- The Ministry of Defence signed a contract with Bharat Electronics Limited (BEL) on February 13, 2024. The contract, worth over 2,269 crore rupees, is for the procurement of 11 Shakti Electronic Warfare Systems for the Indian Navy. The systems will be installed onboard capital warships.
- Sports:
- In January 2024, the International Cricket Council (ICC) named Shamar Joseph and Amy Hunter as the Players of the Month. Shamar Joseph, a West Indies player, was recognized for his outstanding performance during the West Indies tour of Australia 2024. Amy Hunter, at the age of 18, became the youngest player to score a century in both ODI and T20I cricket.
- Reports:
- The Greening and Restoration of Wasteland with Agroforestry (GROW) report and portal was launched by NITI Aayog on February 12, 2024. This initiative aims to restore 26 million hectares of degraded land by 2030 and create an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent. The GROW-Suitability Mapping portal Bhuvan allows universal access to state and district-level data.
- The Small Industries Development Bank of India (SIDBI) released a report titled “Prabhaav”, assessing the impact of the Fund of Funds for Startups (FFS) on 9th February 2024. The report, conducted by CRISIL, revealed that as of November 2023, 129 Alternative Investment Funds (AIFs) were sanctioned, with investments totaling Rs 17,534 crore made in 938 startups. The FFS has led to the emergence of 18 unicorns and has directed investments into sectors like deep tech, agriculture, health tech, financial services, and sustainability.
- Important Days:
- World Congenital Heart Defect Awareness Day is observed annually on February 14 to raise awareness about congenital heart defects (CHDs), which are present at birth and can range from mild to sever. The theme for the 2024 awareness day is "Hearts United: Raising Awareness, Fostering Hope, Promoting Care".
- Awards & Honours:
- India was awarded the prestigious GovTech Prize at the World Government Summit. The award was instituted by the government of UAE on 13th February 2024. India won in the “AI-Powered Government Services' category for its innovative iRASTE project.
- Appointments:
- Anand Radhakrishnan has been appointed as the CEO of Sundaram Asset Management. He will take over as the managing director in July 2024 after the retirement of the current MD, Sunil Subramaniam. Anand Radhakrishnan was previously the MD & CIO at Franklin Templeton India.
- The Institute of Chartered Accountants of India (ICAI) has elected Ranjeet Kumar Agarwal as the 72nd President and Charanjot Singh Nanda as the Vice-President for the term 2024-25. Ranjeet Kumar Agarwal,, was the Vice-President of ICAI for the term 2023-24 and has been a member of the Central Council since 2016. Charanjot Singh Nanda, a BCom graduate from Mukand Lal National College in 1987 and a chartered accountant since 1991, has held various positions in ICAI.
- Books:
- “Maha Swaapnikudu” is a book launched by former Chief Minister N. Chandrababu Naidu and authored by journalist P. Vikram. The book provides a captivating journey into the intricacies of societal fabric and historical context.
- Obituaries:
- Dattajirao Gaekwad, India’s oldest living Test cricketer, passed away at the age of 95. He died at his residence in Baroda on Tuesday, February 13. Gaekwad played 11 Tests for India between 1952 and 1961.
Questions:
Q.1 Who has been elected as the 72nd President of the Institute of Chartered Accountants of India (ICAI) for the term 2024-25?a. Charanjot Singh Nanda
b. Ranjeet Kumar Agarwal
c. Mukand Lal
d. None of the above
Q.2 Who developed the “PURAN” system?
a. The Department of Computer Science at Punjabi University
b. The Department of Computer Science at Harvard University
c. The Department of Computer Science at Stanford University
d. The Department of Computer Science at Oxford University
