Current Affairs One - Liner : 22nd February 2024

• National:
• India's workforce took a significant step towards the future on February 20, 2024, with the inauguration of the first Skill India Centre (SIC) in Sambalpur, Odisha. This landmark initiative, spearheaded by Union Minister Dharmendra Pradhan, aims to empower young people with industry-relevant skills in high-demand sectors.

• West Bengal unveiled its ₹3.6 lakh crore budget for FY25, prioritizing social welfare with increased financial assistance for women and marginalized communities. Aiming to boost employment, the "Karmasree" scheme guarantees 50 days of minimum work for job card holders.
• The four-day Sammakka Saralamma Jatara tribal festival has begun in Telangana, India. The festival is held every two years in the Medaram forests of Mulugu district, and is one of the largest tribal gatherings in the world. The festival is dedicated to the goddesses Sammakka and Saralamma, who are believed to be the protectors of the tribal people.
• A glimmer of hope emerged for women's safety in India on February 22nd, 2024, as the government announced the extension of its flagship "Safety of Women" scheme until 2025-26. This crucial decision, approved by the Union Cabinet, aims to combat the alarming rise in crimes against women, with over 445,000 cases registered in 2022 alone.
• The icy expanse of Pangong Tso, perched high in the Ladakhi Himalayas, witnessed a thrilling feat on February 20th, 2024: the "World's highest frozen lake marathon." This grueling challenge, claiming the Guinness World Record, drew over 120 runners from 7 countries, all braving the frigid temperatures and thin air at over 14,000 feet.
• International:
• India has taken a commendable step towards alleviating poverty and hunger on a global scale by contributing USD 1 million to the India, Brazil, and South Africa (IBSA) Facility for Poverty and Hunger Alleviation Fund (IBSA Fund).
• Banking:
• Jefferies, a financial services company, predicts that the Indian stock market could reach a staggering $10 trillion by 2030. This would be more than double its current size of around $4.5 trillion, making it one of the world's largest markets.
• CRISIL’s Financial Conditions Index (FCI) showed that India’s financial conditions tightened in January compared to December. This was mainly due to a deeper liquidity deficit and foreign portfolio investors turning net-sellers. Despite the Reserve Bank of India’s rate hikes, bank credit growth remained largely unaffected. The RBI is expected to start cutting rates from June 2024.
• The Indian government has recently approved a significant amendment to the foreign direct investment (FDI) policy in the space sector. This new policy allows up to 100% FDI for the manufacturing of components, systems, and sub-systems for satellites, ground segments, and user segments. It also permits up to 74% FDI for the manufacturing and operation of an entire satellite, and up to 49% FDI for creating a spaceport or for launch vehicles and their systems and subsystems.
• Economy:
• S&P Global Ratings predicts India’s credit growth will decrease to 14% in FY25 from 16% in FY24 due to slower deposit growth. This could lead to competition for deposits, squeezing bank margins. Private-sector banks may be more affected due to higher Loan-to-Deposit Ratios. However, S&P expects these banks to withstand the pressure without a major decline in their credit profiles.
• The government just announced a hike in the Fair and Remunerative Price (FRP) of sugarcane, raising it by Rs. 25 per quintal to Rs. 340 for the 2024-25 season. This translates to an 8% increase, marking the highest since 2014 and potentially benefiting over 5 crore farmers across the country.
• Apps & Portals:
• On February 19th, 2024, Kerala launched a new logo and web portal as part of an initiative to promote its products and services globally. The “Kerala Brand” certification, available through the portal, represents quality and competitiveness. This strategy aims to attract investment, create jobs, and enhance Kerala’s reputation as a leader in various sectors.
• Science & Technology:
• NASA’s DC-8 aircraft began the ASIA-AQ mission to study air pollution in Asia on February 22, 2024. The mission involves extended flights across various Asian countries, collecting air particles for analysis. The results are expected to improve air pollution forecasting and public warning systems
• Sports:
• Pakistan's Babar Azam achieved a remarkable feat on February 21st, 2024, becoming the fastest batsman to reach 10,000 runs in T20 cricket. He achieved this milestone in just 266 innings, surpassing the previous record held by Chris Gayle (285 innings) by a significant margin.
• Important Days:
• February 22nd, is World Thinking Day, a day celebrated by Girl Guides and Girl Scouts around the world to connect with sisters across the globe, reflect on the meaning of Guiding, and its impact on the world. The theme for 2024 is "Our World, Our Equal Future."
• Appointments:
• Bandhan Bank has indeed appointed Rajeev Mantri, a seasoned banker with over 25 years of experience across India, Singapore, and the UAE, as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The appointment was approved by the Bandhan board on February 22, 2024.
• Awards & Honours:
• Prof. Aditi Sen De, a physicist from the Harish-Chandra Research Institute, became the first woman to receive the G. D. Birla Award for Scientific Research in 2023. She was recognized for her significant contributions to the field of quantum technologies. The award was presented to her on February 17, 2024.
• Books:
• “Sculpted Stones: Mysteries of Mamallapuram” is a book authored by Ashwin Prabhu. It was published by Tulika Publishers on January 1, 2023. The book is a fascinating journey through the Pallava-era architecture of Mamallapuram, a small town on Tamil Nadu’s coast that is now a UNESCO World Heritage site.

Questions:

Q.1 What is the purpose of the “Kerala Brand” certification?
a. To represent quality and competitiveness
b. To represent the cultural heritage of Kerala
c. To represent the tourism potential of Kerala
d. To represent the agricultural products of Kerala
Q.2 Where did the “World’s highest frozen lake marathon” take place?
a. Mount Everest
b. Pangong Tso
c. Lake Baikal
d. Lake Tahoe