10th January, 2025

1. World Hindi Day 2025- Celebrating the Global Significance of Hindi
2. Indian Microfinance Sector: 2,100% Growth in 12 Years
3. India-U.S. Collaboration on Sonobuoy Production for Indian Navy
4. Pandey Revenue Secretary and A. Chawla Secretary DIPAM Appointed
5. Goa’s ‘Bima Sakhi Yojana’
6. IIT-Madras Sets Record with Asia’s Largest Wave Basin
7. Jharkhand Mukhyamantri Maiya Samman Yojana
8. Meet Sister Inah Lucas: The World’s Oldest Living Person
9. Martin Guptill Announces Retirement from International Cricket
10. Bajaj Broking & TMB Partner for Unified 3-in-1 Account Services
11. Assam Launches Gunotsav 2025: 14 Lakh Students to Be Assessed
12. RBI Lifts Lending Restrictions on Asirvad Micro Finance and DMI Finance
13. BDL Partners with Ultra Maritime to Supply Sonobuoys for Indian Navy
14. MeitY Partners with IITs for Skill Development to Boost Semiconductor Sector
15. Henley Passport Index 2025: Singapore Retained Title of World’s Most Powerful Passport; India Ranked 85th
16. WEF Future of Jobs Report 2025: 78 Million New Job Opportunities by 2030
17. KredX Receives RBI Approval to Operate as TReDS Platform
18. WhiteOak Capital MF Unveils India’s 1st Actively Managed Quality Factor Theme Fund
19. Exim Bank Raised USD 1 Billion through 10-year Bonds
20. Mumbai’s CSMIA Becomes India’s 1st Airport to Receive Level 5 Accreditation from ACI
21. V Narayanan Appointed as 11th Chairman of ISRO
22. MoF Appoints C S Setty, Uday Kotak as Governing Council Members of NIIFL
23. GoI Approved Suzuki Motor Corporation to Acquire 26% Stake in NDDB Mrida Ltd
24. Renowned Writer-Filmmaker and Padma Shri Awardee Prithish Nandy Passed Away

National News

1. India Focuses on Skill Development for Semiconductor Sector
   • What:
     • The Ministry of Electronics & Information Technology (MeitY) is enhancing training activities to support the growth of India’s semiconductor sector.
   • Why:
     • The initiative aims to address the shortage of skilled talent necessary for semiconductor manufacturing in India.
   • Tell me more:
     • MeitY is collaborating with institutions like IITs and private colleges to provide relevant skills. The government has approved five semiconductor units with a total investment of ₹76,000 crore to boost domestic manufacturing.

Source: ET

State News

1. Goa Launches ‘Bima Sakhi Yojana’ for Women Empowerment
   • What:
     • Goa Chief Minister Pramod Sawant launched the ‘Bima Sakhi Yojana’ to provide insurance coverage for women.
   • Why:
     • The scheme aims to empower women and enhance life insurance coverage at the grassroots level.
   • Tell me more:
     • Goa is the second state to launch this initiative after Haryana. Women aged 18-70 years who have completed Class X will receive training and a stipend for three years to promote financial literacy and awareness about insurance.

2. Assam Launches ‘Gunotsav 2025’ to Evaluate Student Performance
   • What:
     • The Assam government launched the first phase of ‘Gunotsav 2025’ on January 6 to evaluate nearly 14.11 lakh students across the state.
   • Why:
     • The initiative aims to ensure quality education and assess the performance of students in various schools.
   • Tell me more:
     • The event will run until January 9 and will cover 16,056 schools in 11 districts with the help of 6,365 external evaluators. The evaluation includes government and provincialized schools, such as Adarsha Vidyalayas and Kasturba Gandhi Balika Vidyalayas.
     • The theme of ‘Gunotsav 2025’ is “Ensuring Quality Education.”
       Source: IT

Banking and Economy

1. Microfinance Institutions in India Grew 2,176% in 12 Years
   • What:
     • The microfinance institutions (MFIs) industry in India has grown over 2,176% in 12 years, increasing from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore by November 2024.
   • Why:
     • The growth aims to enhance financial access for low-income households in rural areas and strengthen the MFI sector.
   • Tell me more:
     • MFIs currently operate in 723 districts across 28 states and 8 Union Territories, serving nearly 8 crore borrowers and contributing 2.03% to India’s GDP.
     • Challenges include difficulties in raising funds and declining portfolio quality.
       Source: TOI
2. Bajaj Broking Partners with Tamilnad Mercantile Bank
   • What:
     • Bajaj Broking has partnered with Tamilnad Mercantile Bank (TMB) to offer a 3-in-1 account solution that combines banking, broking, and investment services.
   • Why:
     • The partnership aims to provide TMB customers with easy online trading and access to a wide range of financial products and services.
   • Tell me more:
     • This collaboration allows for seamless fund transfers and reduces paperwork. Customers will benefit from Bajaj Broking’s advanced trading platform, which enhances transparency and ease of trading.

3. RBI Lifts Restrictions on Asirvad Micro Finance and DMI Finance
   • What:
     • The Reserve Bank of India (RBI) has lifted business restrictions on Asirvad Micro Finance Limited and DMI Finance Private Limited.
   • Why:
     • The restrictions were imposed due to non-compliance with regulatory guidelines, but both companies took remedial measures and submitted compliance reports.
   • Tell me more:
     • The restrictions were initially placed on October 17, 2024, preventing these NBFCs from sanctioning and disbursing loans. After evaluating their improved processes, the RBI has now allowed them to resume operations.
     • Asirvad Micro Finance is based in Chennai, while DMI Finance is located in New Delhi.
       Source: ET

4. KredX Receives RBI Approval for Trade Receivables Platform
   • What:
     • KredX has received final approval from the Reserve Bank of India (RBI) to launch its Trade Receivables Discounting System (TReDS) platform called DTX.
   • Why:
     • The approval allows KredX to facilitate the financing and discounting of trade receivables for micro, small, and medium enterprises (MSMEs).
   • Tell me more:
     • DTX is the fifth platform approved by RBI for TReDS. KredX aims to move clients onto the platform gradually, targeting $2 billion in disbursements by the end of the next financial year. The platform will help process transactions for over 70,000 MSMEs and 150 large corporates.

5. WhiteOak Capital Launches India’s First Quality Equity Fund
   • What:
     • WhiteOak Capital Mutual Fund has launched the WhiteOak Capital Quality Equity Fund, India’s first actively managed quality factor theme fund.
   • Why:
     • The fund aims to invest in companies with strong fundamentals and robust governance to provide resilience during market volatility.
   • Tell me more:
     • The fund is managed by Ramesh Mantri, Trupti Agarwal, Dheeresh Pathak, and Piyush Baranwal.
     • WhiteOak Capital Group manages equity assets worth ₹80,053 crores as of December 2024.
     • The company was founded by Prashant Khemka, former CIO of Goldman Sachs Asset Management.
       Source: CNBC
6. India’s Exim Bank Raises $1 Billion in International Market
   • What:
     • India Exim Bank has raised USD 1 billion by issuing 10-year bonds in the international market.
   • Why:
     • This issuance marks India Exim Bank as the first Indian organization to issue dollar bonds in 2025, reflecting strong demand from overseas investors.
   • Tell me more:
     • The bonds were issued in 144A/Reg-S format. Under the Rule 144A, Qualified Institutional Buyers (QIBs) can trade debt securities without registration and review by the Securities and Exchange Commission (SEC).
     • The Reg S bond type is available for offers and trades of securities outside of the U.S.A. to U.S. and non-U.S. QIBs.
     • The transaction achieved the tightest spread for a 10-year public issuance from India and a peak order book of over USD 2.7 billion.

Source: TP

Reports and Indices

1. Henley Passport Index 2025
   • Total Countries: 199
   • Top Rank: Singapore, 195 visa-free destinations
   • India’s Rank: 85th, 57 visa-free destinations
   • Parameters:
     • Henley & Partners, using Timatic data from the International Air Transport Association (IATA) and in-house research, ranks 199 passports based on visa-free access to 227 global destinations.
   • Most Improved:
     • UAE: Gained access to 72 additional destinations, climbed 32 places from 42nd (2015) to 10th (2025) with 185 visa-free destinations.
   • Most Decline:
     • US: Dropped from 2nd (2015) to 9th (2025), with 186 visa-free destinations
     • UK: Dropped from 1st (2015) to 5th (2025), with 190 visa-free destinations
       Source: BS
2. WEF Future of Jobs Report 2025
   • What:
     • A report from the World Economic Forum predicts that 170 million new jobs will be created globally by 2030.
   • Why:
     • The job creation is driven by technological advancements, green transitions, and demographic shifts in the labor market.
   • Tell me more:
     • The report indicates that while 92 million jobs will be displaced, there will be a net increase of 78 million jobs. Key growing roles include farmworkers, delivery drivers, software developers, and care professionals. Employers expect that 39% of key skills required will change by 2030.

Source: WEF

Defence News

1. India and U.S. Collaborate on Sonobuoy Production for Navy
   • What:
     • India and the U.S. announced cooperation on co-producing U.S. sonobuoys for Undersea Domain Awareness (UDA) for the Indian Navy.
   • Why:
     • This collaboration aims to enhance tracking capabilities of submarines as both countries respond to the growing Chinese naval presence in the Indian Ocean Region.
   • Tell me more:
     • The partnership involves Ultra Maritime and Bharat Dynamics Limited (BDL) to develop new sonobuoy technologies tailored for the Indian Ocean environment.
     • Sonobuoys will be manufactured according to U.S. Navy standards, with production split between the U.S. and India under ‘Make in India’ principles.

Source: TH

Science and Technology

1. IIT Madras Launches Asia’s Largest Shallow Wave Basin
   • What:
     • IIT Madras has launched Asia’s largest Shallow Wave Basin Research Facility at the ‘Discovery’ Satellite Campus in Thaiyur.
   • Why:
     • The facility aims to address challenges in coastal and marine engineering and support research and industrial needs.
   • Tell me more:
     • Developed under the National Technology Centre for Ports, Waterways, and Coasts (NTCPWC), the basin can analyze complex wave-current interactions. It will help in various applications, including testing wave effects on structures and studying sediment transport.

Source: IN

Awards

1. Mumbai’s CSMIA Achieves Level 5 Accreditation for Customer Experience
   • What:
     • Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai has become the first airport in India and the third in the world to receive Level 5 Accreditation for Airport Customer Experience.
   • Why:
     • This accreditation recognizes CSMIA’s commitment to enhancing passenger experience through a data-driven and customer-focused approach.
   • Tell me more:
     • Gautam Adani, chairman of Adani Airport Holdings Ltd, praised the achievement and emphasized the importance of serving passengers well.
     • CSMIA is managed by Adani Airport Holdings Ltd.
     • The Level 5 Accreditation is awarded by Airports Council International (ACI).

Source: TN

Important Days

1. World Hindi Day 2025 – January 10
   • What:
     • World Hindi Day is celebrated annually on January 10 to honor Hindi speakers and promote the language’s global recognition.
   • Why:
     • The day emphasizes the significance of Hindi as a means of communication and cultural expression, particularly in India and among the global community.
   • Tell me more:
     • Hindi ranks as the third most spoken language worldwide, following Mandarin and English.
     • The first celebration of World Hindi Day took place in 2006, initiated by then-Prime Minister Dr. Manmohan Singh.

Source: HT

Sports

1. Martin Guptill Announces Retirement from International Cricket
   • What:
     • Martin Guptill, the former New Zealand opening batsman, has announced his retirement from international cricket at the age of 38.
   • Tell me more:
     • Over his career, Guptill played 367 international matches, scoring 23 centuries across all formats.
     • He is New Zealand’s highest run-scorer in T20Is and ranks third on the ODI run-scoring list for New Zealand.

Source: TOI

Appointments

1. Finance Secretary Tuhin Kanta Pandey Becomes Revenue Secretary
   • What:
     • Tuhin Kanta Pandey has taken charge as the revenue secretary in the finance ministry after a cabinet reshuffle.
   • Why:
     • The change aims to enhance the efficiency of the finance ministry, especially in preparation for the upcoming 2025-26 Budget.
   • Tell me more:
     • Pandey was previously the secretary in the Department of Investment & Public Asset Management (DIPAM) and has held various significant roles in both the Union and Odisha state governments.
     • Arunish Chawla, the former revenue secretary, has been moved to DIPAM.

2. Finance Ministry Inducts New Members to NIIF Governing Council
   • What:
     • The Finance Ministry has inducted two new members to the governing council of the National Investment and Infrastructure Fund Trustee Ltd (NIIFTL).
   • Why:
     • The induction aims to provide strategic guidance on investment matters related to the NIIF.
   • Tell me more:
     • The new members are C S Setty, Chairman of SBI, and Uday Kotak, director of Kotak Mahindra Bank.
     • This decision was approved by Finance Minister Nirmala Sitharaman, who chairs the council.

Source: ET

Miscellaneous

1. Sister Inah Canabarro Lucas: The Oldest Living Person at 117
   • Sister Inah Canabarro Lucas, at 117 years old Brazilian, is recognized as the oldest living person after the death of Tomiko Itooka.
     Source: TN
2. Pritish Nandy, Veteran Journalist and Filmmaker, Passes Away
   • What:
     • Veteran journalist, poet, and filmmaker Pritish Nandy passed away in Mumbai after a cardiac arrest.
   • Why:
     • He was an Indian poet, painter, journalist, parliamentarian, media and television personality, animal rights activist, filmmaker, and creator of TV and streaming content.
   • Tell me more:
     • He was a Padma Shri awardee and a former Rajya Sabha member of the Shiv Sena.
     • Nandy’s company produced notable films such as ‘Sur’, ‘Kaante’, and ‘Pyaar Ke Side Effects’. He authored around 40 books of poetry and translated works from Bengali, Urdu, and Punjabi.

Source: HT

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