03rd-04th January, 2024

1. Central Drugs Standard Control Organisation (CDSCO) has launced National Single Window System (NSWS) to streamline the import, clinical investigations, and testing of medical devices.
2. Central government has amended Central Civil Services (CCS) (pension) rules, 2021, to allow female government servants and pensioners to nominate her child/children for family pension in precedence to her husband.
3. Gujarat has emerged as the ‘petro capital‘ of India due to the presence of significant oil and petrochemical facilities.
4. Kerala Chief Minister Pinarayi Vijayan has launched ‘K-SMART’ application to provide digital access to services offered by local self-government bodies through a unified platform across the state.
5. Jammu and Kashmir Director General of Police (DGP) has launched a grievance redressal portal ‘Awaam Se, Awaam Ke Liye’ for people and force personnel.
6. Jammu and Kashmir has become the 1st Union Territory (UT) to implement the PM Vishwakarma Yojana (PMVY).
7. 5 New countries have joined BRICS in 2024.
8. Ministry of Heavy Industries has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by 1 year.
9. Bank of India has introduced Super Special Fixed Deposit with an attractive interest rate of 7.50% per annum exclusively for domestic rupee term deposits.
10. Reserve Bank of India (RBI) has revised guidelines for classifying accounts and deposits as inoperative accounts and unclaimed deposits by banks.
11. Reserve Bank of India (RBI) has granted payment aggregator (PA) license to Tata Pay, TATA group’s digital payment app and Bengaluru based identity verification startup DigiO.
12. Indian cricketer Virat Kohli has won Pubity Athlete Of The Year 2023 award.
13. Durga Shankar Mishra has been re-appointed as Chief Secretary of Uttar Pradesh.
14. Nadia Calvino of Spain has took over as 1st woman president of European Investment Bank (EIB).
15. Kerala Governor Arif Mohammad has launched book named ‘Ram Mandir Rashtra Mandir Ak Sajhi Virasat’ at Rang Bhawan Auditorium, Delhi.
16. Tamil Nadu Chief Minister MK Stalin has released book title ‘Maha Kavithai’ by poet Vairamuthu in Chennai, Tamil Nadu.
17. Padma Bhushan awardee and Prominent Indian-American legal scholar, Professor Ved Prakash Nanda has passed away.

National News

1. Central Drugs Standard Control Organisation (CDSCO) has launced National Single Window System (NSWS) to streamline the import, clinical investigations, and testing of medical devices.
   • More about National Single Window System (NSWS)-
     • Developed by– Tata Consultancy Services (TCS)
     • It acts as a one-stop shop for all the approvals required by the investor and facilitates ease of doing business.
     • It facilitates applications for the certificate of registration and licences to manufacture or import medical devices for various purposes, including clinical investigations, etc.

2. Central government has amended Central Civil Services (CCS) (pension) rules, 2021, to allow female government servants and pensioners to nominate her child/children for family pension in precedence to her husband.
   • Key points of amendments–
     • A female government servant or pensioner facing marital discord or legal cases can request that family pension be granted to her eligible child in precedence to her spouse in the event of her death.
     • Disbursement after Death:
       • In case of the female government servant’s or pensioner’s death during the mentioned legal proceedings:

       (a) If the widower has no eligible children, family pension goes to the widower.

       (b) If the widower has minor children or children with a disorder or disability of mind:

       • family pension is payable to the widower (acting as a guardian).
       • If the widower ceases to be the guardian, the pension is redirected to the child through the actual guardian.
       • Upon attaining majority, the child receives the pension until they are ineligible.

       (c) If the widower has children who have attained majority but are still eligible for family pension, the pension is payable to the child/children.

       • If a child or children cease to be eligible under Rule 50 of the CCS (Pension) Rules, 2021, family pension passes to other eligible child/children.
       • After all children become ineligible under Rule 50, the widower receives family pension until death or remarriage, whichever comes first.
         Source: PIB

       
       

State News

1. Gujarat has emerged as the ‘petro capital‘ of India due to the presence of significant oil and petrochemical facilities.
   • Why Gujarat is recognised as petro capital?
     • Reliance Industries Ltd (RIL) operates the world’s largest grassroot oil refinery in Jamnagar, Gujarat, which is the largest and most complex single-site refinery globally, with a crude processing capacity of 1.4 million barrels per day (MMBPD).
     • Additionally, Gujarat is home to the OPaL petrochemical complex located at Dahej in Bharuch district.

2. Kerala Chief Minister Pinarayi Vijayan has launched ‘K-SMART’ application to provide digital access to services offered by local self-government bodies through a unified platform across the state.
   • More about K-SMART–
     • K-SMART stands for ‘Kerala Solutions for Managing Administrative Reformation and Transformation’.
     • Initially, it will provide eight services covering areas such as the registration of births, deaths, and marriages, business licenses, property taxes, etc.
     • Currently, it is implemented in corporations and municipalities across the state, and from 1 April, 2024, it will be extended to Gram Panchayats.
     • Developed by– Information Kerala Mission
     • Objective– to streamline local government services in Kerala with its 35 different modules.
       Source: Business Standard

   
   
   
   
   
   
3. Jammu and Kashmir Director General of Police (DGP) has launched a grievance redressal portal ‘Awaam Se, Awaam Ke Liye’ for people and force personnel.
   • Objective–
     • To listen and address issues faced by citizen and police personnel in a more structure and decentralised manner.
       Source: ANI

4. Jammu and Kashmir has become the 1st Union Territory (UT) to implement the PM Vishwakarma Yojana (PMVY).
   • Key points–
     • The training program for the first batch of 30 trainees in ‘darzi craft’ under the PM Vishwakarma Yojana (PMVY) was virtually inaugurated.
     • The training program took place at the Industrial Training Institute (ITI) in Shopian, Jammu and Kashmir.
     • The initiative aims to empower craftsmen through self-employment opportunities, particularly in the ‘darzi craft.’

Source: The Hindu

International News

1. 5 New countries have joined BRICS in 2024.
   • Key points–
     • BRICS bloc, consisting of India, Russia, China, and others, has expanded its membership by inducting five new full members.
     • Argentina, initially approved for BRICS membership but withdrew its participation under its new President Javier Milei.
     • New BRICS members–
       • Egypt
       • Ethiopia
       • Iran
       • Saudi Arabia
       • United Arab Emirates

Source: Business Standard

Banking and Economy

1. Ministry of Heavy Industries has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by 1 year.
   • Objective–
     • To provide clarity and flexibility to the scheme and to ensure a level playing field for all approved companies and safeguard those who front-loaded their investments.
   • Key points–
     • Amendments are effective from the date of publication in the Official Gazette.
     • Incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24 and disbursement of the incentive will take place in the financial year 2024-25.
     • Approved applicants will be eligible for benefits for five consecutive financial years, but not beyond the financial year ending on March 31, 2028.
     • Total indicative incentive amounting to Rs. 25,938 crore will be provided under the initiative.

2. Bank of India has introduced Super Special Fixed Deposit with an attractive interest rate of 7.50% per annum exclusively for domestic rupee term deposits.
   • Key features–
     • Deposit Amount- between ₹2 Crores and below Rs. 50 Crores
     • Maturity period- Fixed maturity period of 175 days
     • Scheme start date- January 1st, 2024
     • Benefit for senior citizens-
       • Senior citizens aged 60 and above but below 80 will get an extra 0.50% interest on retail term deposits (below Rs. 2 Crores) with a tenor of 6 months and above, up to 3 years.
       • Those aged 80 years and above will be eligible for an additional interest rate of 0.65%.
   • What is term deposit?
     • A term deposit refers to investments like a fixed deposit or recurring deposit that are made for a predetermined period of time to earn higher interest than a savings account.

3. Reserve Bank of India (RBI) has revised guidelines for classifying accounts and deposits as inoperative accounts and unclaimed deposits by banks.
   • What is an inoperative account?
     • A savings or current account becomes inoperative if there are no ‘customer induced transactions’ for a period exceeding two years.

   • How unclaimed deposit is defined?
     • Balances in savings/current accounts not operated for 10 years or term deposits unclaimed for 10 years are classified as ‘unclaimed deposits.’
   • RBI Guidelines:
   • RBI directs banks to conduct an annual review for accounts with no customer induced transactions for over a year.
   • Account holders can reactivate inoperative accounts/unclaimed deposits by submitting KYC documents at any bank branch, including non-home branches.
   • Banks must credit interest on savings accounts regularly, irrespective of the operational status of the account.
     Source: Indian Express
4. Reserve Bank of India (RBI) has granted payment aggregator (PA) license to Tata Pay, TATA group’s digital payment app and Bengaluru based identity verification startup DigiO.

Source: ET

Awards

1. Indian cricketer Virat Kohli has won Pubity Athlete Of The Year 2023 award.
   • He has defeated Argentine football superstar Lionel Messi 78-22 in the final vote count.
     Source: India Today

Appointments

1. Durga Shankar Mishra has been re-appointed as Chief Secretary of Uttar Pradesh.
   • He has got 3rd extension and will serve till June 30, 2024.
     Source: ET
2. Nadia Calvino of Spain has took over as 1st woman president of European Investment Bank (EIB).
   • Key points–
     • She has replaced Werner Hoyer and is now the 8th president of the EU Bank.

Source: EIB

Miscellaneous

1. Kerala Governor Arif Mohammad has launched book named ‘Ram Mandir Rashtra Mandir Ak Sajhi Virasat’ at Rang Bhawan Auditorium, Delhi.
   • Written by– Geeta Singh and Arif Khan Bharti
     Source: ANI
2. Tamil Nadu Chief Minister MK Stalin has released book title ‘Maha Kavithai’ by poet Vairamuthu in Chennai, Tamil Nadu.
   • The book explores five elements – soil, wind, fire, sky, and water.
     Source: TOI
3. Padma Bhushan awardee and Prominent Indian-American legal scholar, Professor Ved Prakash Nanda has passed away.
   • He was awarded Padma Bhushan for literature and education in 2018.
     Source: Quint

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