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06th-08th January, 2024

e-samridhi portal, ERNET, Geographical Indication, Internal Ombudsmen, Green Bonds, Rashtriya Khel Protsahan Puruskar’ 2023, World Day of War Orphans , ‘Sanskriti K Aayam, Four Stars of Destiny’
  1. Union Minister of Cooperation, Amit Shah has launched ‘e-samridhi portal’ for procurement and payment of tur dal in New Delhi.
  2. Ministry of Electronics & Information Technology (MeitY) Secretary S Krishnan has launched ‘ERNET’, newly developed integrated web portal of India for educational institutes in the country.
  3. 3 varieties of handloom sarees in West Bengal and 7 products from Odisha have received Geographical Indication (GI) tag.
  4. Himachal Pradesh CM Sukhvinder Sukhu has launched 2 governance portals.
  5. RBI has directed Regulated entities (REs) and their Internal Ombudsmen (IOs) to ensure that a final decision is communicated to customers within a period of 30 days from the date of receipt of complaint.
  6. State Bank of India has raised $250 million through Green Bonds to finance green projects.
  7. Economy of India is projected to grow at 7.3% in the ongoing financial year, as per the initial advance estimate report released by the National Statistical Office (NSO).
  8. Ministry of Youth Affairs & Sports has announced ‘Rashtriya Khel Protsahan Puruskar2023.
  9. January 6– World Day of War Orphans
  10. Canara Bank chief general manager P Santhosh has been appointed as Chief Executive Officer of National Asset Reconstruction Company Ltd. (NARCL). 2024
  11. REC Limited has signed a Memorandum of Understanding (MoU) with the Bank of Baroda (BoB) to jointly finance projects in the power, infrastructure, and logistics sectors over the next 3 years.
  12. Succes Masra has been appointed as new Prime Minister of Chad.
  13. Emir of Kuwait has appointed Sheikh Mohammed Sabah al-Salem al-Sabah as prime minister.
  14. Securities and Exchange Board of India (SEBI) has appointed G Ram Mohan Rao as Executive Director for 3 years.
  15. Sanjiv Aggarwal has been appointed as chief executive officer and managing director of National Investment and Infrastructure Fund Limited (NIIFL).
  16. Ravindra Kumar Tyagi has been appointed as the Chairman and Managing Director of Powergrid Corporation of India Ltd.
  17. Minister of State for Civil Aviation, General VK Singh has released a book ‘Sanskriti K Aayam’ written by Manorama Mishra.
  18. Former Army chief General Manoj Mukund Naravane has written his memoir titled ‘Four Stars of Destiny’.

Table of Content

National News

  1. Union Minister of Cooperation, Amit Shah has launched ‘e-samridhi portal’ for procurement and payment of tur dal in New Delhi.
      • About e-samridhi portal-
        • Developed by- National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED)and National Cooperative Consumers’ Federation of India Limited (NCCF).
        • Portal is launched during national symposium organized on ‘Self-reliance in Pulses’.
        • Through the portal, farmers will be able to sell tur dal to NAFED or NCCF at the minimum support price (MSP) or market price, whichever is higher.
        • NAFED and NCCF will undertake procurement of pulses on behalf of the government to maintain a buffer stock.
Knowledge Nuggets -
About NAFED-
• It is an organisation of marketing cooperatives for agricultural produce, set up under the Multi State Cooperative Societies Act.
• Objective- To promote co-operative marketing of agricultural produce that would benefit farmers.
• Headquarters- New Delhi
• Established- 1958
• Chairman- Dr. Bijender Singh
Source: livemint

  1. Ministry of Electronics & Information Technology (MeitY) Secretary S Krishnan has launched ‘ERNET’, newly developed integrated web portal of India for educational institutes in the country.
      • Key points-
        • Portal will offer domain registration, DNS and value-added services namely Website as a Service (WaaS) and Learning Management as a Service (LMaaS).
        • Users can select from the variety of available templates for schools, colleges, universities as per their requirement and create their own website and Learning Management System.
        • Web portal has been developed by utilizing open-source software and emerging technologies such as Artificial Intelligence/Machine Learning.
      • About ERNET India-
        • ERNET India is a not-for-profit scientific society under MeitY.
        • It is the exclusive domain registrar for all the education & research institutes having ‘ac.in’, ‘edu.in’ & ‘res.in’ as domain name.
        • It provides web accessibility service, campus Wi-Fi services, smart classrooms and connectivity through Terrestrial and Satellite based systems to the educational & research institutes in the country.
          Source: PIB



State News

  1. 3 varieties of handloom sarees in West Bengal and 7 products from Odisha have received Geographical Indication (GI) tag.
      • Details of products-
Products State Product type
Tangail Sarees West Bengal Handloom
Korial SareesWest Bengal Handloom
Garad SareesWest Bengal Handloom
Kapdaganda shawl Odisha Handloom
Lanjia Saura Painting Odisha Art
Koraput Kala Jeera Rice Odisha Food
Similipal Kai chutney Odisha Food
Nayagarh Kanteimundi Brinjal Odisha Food
Odisha Khajuri Guda Odisha Food
Dhenkanal Magji Odisha Food
Knowledge Nuggets -
What is GI tag?
• A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.
• Geographical Indications of Goods (Registration and Protection) Act, 1999 aims to facilitate the registration and enhance the protection of geographical indications associated with goods within the territory of India.
• It is regulated and guided by the World Trade Organization's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).
Source: NIE, Indian Express

  1. Himachal Pradesh CM Sukhvinder Sukhu has launched 2 governance portals.
      • Portals launched– Report Management Portal (RMP) and Meeting Management Portal (MMP)
      • Objective- To revolutionise communication, decision-making and data management within the government.
      • Developed by– Department of Digital Technology and Governance
        Source: Tribune India

Banking and Economy

  1. RBI has directed Regulated entities (REs) and their Internal Ombudsmen (IOs) to ensure that a final decision is communicated to customers within a period of 30 days from the date of receipt of complaint.
      • Objective-
        • To improve consumer grievance redressal within the regulated entities and improve customer service standards.

      • Other directives-
        • Regulated entities must create automated software to manage rejected complaints, and escalate them to the Internal Ombudsman for a final decision within 20 days.
        • REs have to provide “read-only” access to their Complaint Management Software so that all complaints are accessible to the IO.
        • Decision of Internal Ombudsman will be binding on the regulated entity, except in cases where the latter has obtained approval for disagreeing with such decision.
      • Age and tenure of Internal Ombudsman (IO) and Deputy Internal Ombudsman (DIO)-
        • Age- Should not be over 70 years of age before the completion of the tenure.
        • Tenure- Fixed term of not less than 3 years, but not exceeding 5 years.
        • They are not be eligible for reappointment or for extension of term in the same regulated entity.
          Source: Hindu Business Line
  2. State Bank of India has raised $250 million through Green Bonds to finance green projects.
      • Key points-
        • SBI has raised amount through senior unsecured Green floating rate notes, referred to as ‘The Green Notes’.
        • Tenure- 5 years
        • Maturity date- December 29, 2028.
        • Green Notes are rated BBB- by S&P, and they are issued on a floating rate basis of 1.20% above Secured Overnight Financing Rates (SOFR).
        • Green bonds are listed on the India International Exchange and proceeds will be allocated to eligible green projects according to the bank’s ESG Financing Framework.
Knowledge Nuggets -
What is Green Bond?
• It is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects.
What is Secured Overnight Financing Rates (SOFR)?
• Secured Overnight Financing Rate is a secured overnight interest rate.
• It is a benchmark interest rate for dollar-denominated derivatives and loans that replaced LIBOR.

Source: The Hindu

GDP Forecasts

  1. Economy of India is projected to grow at 7.3% in the ongoing financial year, as per the initial advance estimate report released by the National Statistical Office (NSO).
      • Key observations-
        • Nominal growth projection for FY24 is 8.9%, a significant deceleration from the 16.1% recorded in the previous financial year (FY23).
        • Government has anticipated a year-on-year Gross Value Added (GVA) growth of 6.9% for fiscal year 2024, slightly lower than the 7% recorded in fiscal year 2023.
        • Positive economic indicators, including the strong GDP figure for the September quarter, led several private economists to revise their annual estimates upward.
Knowledge Nuggets -
About National Statistical Office-
• It acts as the nodal agency under the Ministry of Statistics and Programme Implementation for planned development of the statistical system in the country.
• It lays down and maintains norms and standards in the field of statistics
• It consists Central Statistical Office (CSO), the Computer center and the National Sample Survey Office (NSSO).

Source: livemint

Awards

  1. Ministry of Youth Affairs & Sports has announced ‘Rashtriya Khel Protsahan Puruskar2023.
      • More about Rashtriya Khel Protsahan Puruskar-
        • It is given to corporate entities (both in private and public sector), Sports Control Boards, NGOs, including sports bodies at the State and National level, who have played a visible role in the area of sports promotion and development.
        • Awardees will receive their awards from the President of India at a specially organized function at Rashtrapati Bhavan on 09th January, 2024.
        • List of Awardees for 2023-

CategoryEntity awarded for Rashtriya Khel Protsahan Puruskar 2023
Identification and nurturing of budding / young talentJain Deemed to be University, Bengaluru
Encouragement to sports through Corporate Social ResponsibilityOdisha Mining Corporate Limited
Knowledge Nuggets -
Six core awards which constitute India’s National Sports Awards are-
1. Major Dhyan Chand Khel Ratna Award or simply the Khel Ratna
2. Arjuna Award
3. Dronacharya Award
4. Major Dhyan Chand Award
5. Maulana Abul Kalam Azad Trophy (MAKA Trophy)
6. Rashtriya Khel Protsahan Puruskar

Source: PIB

Important Days

  1. January 6– World Day of War Orphans 2024
    Source: Quint

Memorandum of Understanding

  1. Ministry of Defence (MoD) has signed Rs 802 crore contract with Jupiter Wagons for indigenous military equipment procurement.
    Source: Business Standard
  2. REC Limited has signed a Memorandum of Understanding (MoU) with the Bank of Baroda (BoB) to jointly finance projects in the power, infrastructure, and logistics sectors over the next 3 years.
      • Objective-
        • To catalyse transformative projects that will positively impact communities and drive socio-economic progress
          Source: Business Standard

Appointments

  1. Succes Masra has been appointed as new Prime Minister of Chad.
      • Chad is a country in north-central Africa.
        Source: ABC
  2. Emir of Kuwait has appointed Sheikh Mohammed Sabah al-Salem al-Sabah as prime minister.
    Source: Reuters
  3. Securities and Exchange Board of India (SEBI) has appointed G Ram Mohan Rao as Executive Director for 3 years.
      • He will handle the investigation department and the internal inspection department.
Knowledge Nuggets -
About SEBI-
• It is the regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance within the Government of India.
• Headquarters- Mumbai
• Established- April 12, 1988
• Chairperson- Madhabi Puri Buch
Source: Business Standard

  1. Sanjiv Aggarwal has been appointed as chief executive officer and managing director of National Investment and Infrastructure Fund Limited (NIIFL).
Knowledge Nuggets -
About NIIFL-
• It maintains infrastructure investments funds for international and Indian investors anchored by the Government of India.
• It was announced in budget 2015-16, and Central government has 49% ownership in it.
• Headquarters- Mumbai
• Established- 2015
• MD & CEO- Rajiv Dhar
Sources: livemint

  1. Ravindra Kumar Tyagi has been appointed as the Chairman and Managing Director of Powergrid Corporation of India Ltd.
    Source: ET
  2. Canara Bank chief general manager P Santhosh has been appointed as Chief Executive Officer of National Asset Reconstruction Company Ltd. (NARCL).
Knowledge Nuggets -
About NARCL-
• NARCL has been incorporated under the Companies Act as an Asset Reconstruction Company (ARC).
• NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution.
• Public Sector Banks have 51% ownership in NARCL.
• Established- 2021

Source: ET, PIB

Miscellaneous

  1. Minister of State for Civil Aviation, General VK Singh has released a book ‘Sanskriti K Aayam’ written by Manorama Mishra.
      • Book is based on Indian culture.
      • Published by- National Book Trust
        Source: ANI
  2. Former Army chief General Manoj Mukund Naravane has written his memoir titled ‘Four Stars of Destiny’.
      • Published by- Penguin Veer
        Source: The Hindu
CEO of Anujjindal.in

About Anuj Jindal

━━━━━
Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

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