14th February, 2024

1. Union Cabinet has approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”, a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada.
2. Union Cabinet has approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26.
3. Cabinet has approved the next spectrum auctions set to be held later this year with a reserve price of Rs 96,317 crore.
4. Cabinet Committee on Economic Affairs has approved 6 projects of Ministry of Railways with total estimated cost of Rs. 12,343 crore (approx.) with 100% funding from Central Government.
5. Principal Scientific Advisor to the Government of India Prof Ajay Kumar Sood has launched “Science for Women-A Technology & Innovation (SWATI)” Portal in New Delhi.
6. Asian Development Bank (ADB) has approved a $200 million loan to strengthen Flood and Riverbank Erosion Risk Management (FRERM) along the 650 kilometers (km) long main stem of the Brahmaputra River in Assam, India.
7. Reserve Bank of India has raised the ceiling on remuneration of non-executive directors in private banks to Rs 30 lakh per annum from Rs 20 lakh.
8. Reserve Bank of India (RBI) has allowed the branches of Indian banks in GIFT-IFSC to act as a Trading Member or Trading and Clearing Member of International Bullion Exchange IFSC Ltd (IIBX).
9. RBI has cancelled the license of Jai Prakash Narayan Nagari Sahakari Bank based in Basmathnagar, Maharashtra.
10. Department of Administrative Reforms and Public Grievances (DARPG) has released the National e- Governance Service Delivery Assessment (NeSDA) Way Forward Annual Report 2023.
11. Small Industries Development Bank of India (SIDBI) has unveiled the CRISIL’s impact assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘.
12. World Unani Day 2024
13. International Day of Women and Girls in Science 2024
14. Australia has lifted their 4th title at the Under-19 World Cup level as they defeated India in the final of the ICC U-19 World Cup final 2024 at Willowmore Park in Benoni South Africa.
15. Ministry of Education has partnered with FIFA to promote football in schools across India.
16. Embraer Defense & Security and Mahindra have signed a MoU with the objective of jointly fulfilling the acquisition of the C-390 Millennium multi-mission aircraft by the Indian Air Force in its upcoming Medium Transport Aircraft (MTA) procurement project.

National News

1. Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)
• What 👉 Union Cabinet has approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”, a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada.
• Objective-
  • To formalize of the fisheries sector and support fisheries micro and small enterprises in all States/Union Territories.
  • To facilitating access to institutional financing fisheries sector micro and small enterprises.
  • To providing one-time incentive to beneficiaries for purchasing aquaculture insurance.
  • To incentivize fisheries and aquaculture microenterprises through performance grants.
• Key points-
  • Total investment- Over Rs. 6,000 crores
  • Tenure- 4 years from FY 2023-24 to FY 2026-27
• Major component of the sub-scheme-
  • Formalization of fisheries sector and facilitating access of fisheries microenterprises to Government of India programs for working capital financing
  • Facilitating adoption of aquaculture insurance
  • Supporting microenterprises to improve fisheries sector value chain efficiencies
  • Adoption and expansion of fish and fishery product safety and quality assurance systems

Source: PIB

2. Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
• What 👉 Union Cabinet has approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26.
• Objective-
  • To address the infrastructure requirement for fisheries sector
• Key points-
  • Total funds size – Rs 7522.48 crore
  • FIDF will further intensifies development of various fisheries infrastructures like fishing harbours, fish landing centers, ice plants, etc.

Source: PIB

4. Cabinet approves telecom spectrum auctions.
• What 👉 Cabinet has approved the next spectrum auctions set to be held later this year with a reserve price of Rs 96,317 crore.
• Key points-
  • The decision aims to improve the quality of telecom services and coverage for consumers.
  • All the available spectrum in 800, 900, 1800, 2100, 2300, 2500, 3300 megahertz (MHz) and 26 gigahertz (GHz) bands will be put to auction.

Source: BS

5. Cabinet approves 6 multi tracking projects across Indian Railways.
• What 👉 Cabinet Committee on Economic Affairs has approved 6 projects of Ministry of Railways with total estimated cost of Rs. 12,343 crore (approx.) with 100% funding from Central Government.
• Objective-
  • To facilitate ease of travelling, minimize logistics cost, reduce oil imports and lower CO2 emissions
• Key points-
  • The project will likely complete by 2029-30 with a financial outgo of the projects will be Rs 12,343 crore (approx.).
  • These 6 projects will cover 18 Districts in 6 States i.e., Rajasthan, Assam, Telangana, Gujarat, Andhra Pradesh and Nagaland.

Source: PIB

6. Launch of ‘SWATI’ (Science for Women-A Technology & Innovation) Portal.
• What 👉 Principal Scientific Advisor to the Government of India Prof Ajay Kumar Sood has launched “Science for Women-A Technology & Innovation (SWATI)” Portal in New Delhi.
• Objective-
  • To create a single online portal representing Indian Women and Girls in STEMM (Science, Technology, Engineering, Mathematics & Medicine).
  • To include every Indian Women in Science (WiS), career stages, subjects, spanning both Academia and the Industry.
• More about SWATI Portal-
  • It was launched on the occasion of International Day of Women and Girls in Science at Indian National Science Academy (INSA), New Delhi.
  • Database of SWATI Portal will serve in policy making to address the challenges of Gender-gap.
  • Portal is developed, hosted and maintained by the National Institute of Plant Genome Research (NIPGR), New Delhi.
  • It is an initiative by the Inter Academy Panel of India (IAP) on Women in STEMM.
  • Various Sections in the portal include ****Icons –
    • Awardees
    • Faculty
    • Research fellows
    • Students

  Source: PIB

Banking and Economy

1. Loan agreement between Department of Economic Affairs and Asian Development Bank.
• What 👉 Asian Development Bank (ADB) has approved a $200 million loan to strengthen Flood and Riverbank Erosion Risk Management (FRERM) along the 650 kilometers (km) long main stem of the Brahmaputra River in Assam, India.
• Key points-
  • Project activities will be led, managed, and coordinated by the Flood and River Erosion Management Agency of the Assam (FREMAA).
  • Project will be implemented by- Water Resources Department of the Government of Assam
  • Project will benefit around 1 million people and increase crop production in more than 50000 hectares.

Source: ADB

2. RBI raises ceiling on remuneration of non-executive directors.
• What 👉 Reserve Bank of India has raised the ceiling on remuneration of non-executive directors in private banks to Rs 30 lakh per annum from Rs 20 lakh.
• The banks are required to have suitable criteria for granting fixed remuneration to its NEDs, with the approval of their boards before any review of the extant remuneration.

Source: ET

3. RBI allows Indian bank branches in GIFT-IFSC.
• What 👉 Reserve Bank of India (RBI) has allowed the branches of Indian banks in GIFT-IFSC to act as a Trading Member or Trading and Clearing Member of International Bullion Exchange IFSC Ltd (IIBX).
• Key points-
  • Indian banks authorised to import gold or silver will act as Special Category Client (SCC) of the International Bullion Exchange.
  • Trading Member/Trading and Clearing Member (TM/TCM) of IIBX shall execute trades only on behalf of clients (without proprietary trading).

Source: ET

4. RBI cancelled the licence of Jai Prakash Narayan Nagari Sahakari Bank Ltd.
• What 👉 RBI has cancelled the license of Jai Prakash Narayan Nagari Sahakari Bank based in Basmathnagar, Maharashtra.
• Key points-
  • With effect from February 6, 2024, The bank has ceased to carry on banking business as defined in Section 5(b) read with Section 56 of BR Act, 1949.
  • RBI has cancelled the licence as the bank did not have adequate capital and earning prospects.

Source: AIR

Reports and Indices

1. National e- Governance Service Delivery Assessment (NeSDA) Way Forward Annual Report 2023.
• What 👉 Department of Administrative Reforms and Public Grievances (DARPG) has released the National e- Governance Service Delivery Assessment (NeSDA) Way Forward Annual Report 2023.
• Objective-
  • To analyze India’s e-governance journey, to increase the number of e-services and rise in use of integrated / centralized portals.
• More about NeSDA-
  • It assess States/UTs and Central Ministries with regard to their delivery of e-services as a benchmarking exercise, covering seven sectors.
  • NeSDA 2021 assessed 69% of all possible mandatory e-services which have been delivered by States/UTs up from 48% in NeSDA 2019.
  • Assessment was based on the Online Service Index (OSI) of UNDESA e-Government Survey.
  • DARPG intends to conducts the NeSDA study biennially.
• Highlights of the Report-
  • 3 Regional Conferences were organized on e-Governance in Bhopal, Mumbai and Guwahati, respectively.
  • 16,487 Total e-services are provided across States/UTs.
  • Jammu and Kashmir provides the maximum (1117) number of e-Services, across States/UTs.
  • Jammu and Kashmir, Kerala, Assam and Odisha provide 100% of their services through their identified Single Unified Service Delivery Portal i.e., e-UNNAT, e-Sevanam, Sewa Setuand Odisha One, respectively.
  • Tourism sector has achieved the highest saturation for provision of all mandatory e-services in 23 out of 36 States/UTs. This is followed by Environment and Labour & Employment sector in 20 out of 36 States/UTs.

2. Prabhaav: SIDBI has unveiled the CRISIL study on impact of Fund of Funds on startup (FFS) ecosystem.
• What 👉 Small Industries Development Bank of India (SIDBI) has unveiled the CRISIL’s impact assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘.
• Key findings of the report-
  • As of November 30, 2023, 129 Alternative Investment Fund (AIF) were sanctioned out of FFS across various segments.
  • Investments of approximately 4 times the drawn amount, totaling Rs 17,534 crore, have been made in 938 startups, showcasing a significant multiplier effect of FFS.
  • After launch of FFS, 129 startups beyond Tier 1 cities have received investments aggregating ₹1,590 crore.
  • As per the survey conducted by CRISIL as part of the assessment, 89% respondents confirmed that support under FFS was instrumental in anchoring their fund raise.
  • More than 75% respondents said they experienced a positive impact in raising non-institutional domestic capital post commitment by SIDBI under the scheme.

Source: cxotoday

Important Days

1. February 11– World Unani Day 2024; Theme– Unani Medicine for One Earth, One Health
• It is observed every year to commemorate the birth anniversary of social reformer and renowned Unani scholar Hakim Ajmal Khan, widely regarded as the pioneer of Unani medicine in India.
2. February 11- International Day of Women and Girls in Science 2024; Theme- Women and Girls in Science Leadership, a New Era for Sustainability

Sports

1. International Cricket Council (ICC) U19 Men’s Cricket World Cup (CWC) 2024.
• What 👉 Australia has lifted their 4th title at the Under-19 World Cup level as they defeated India in the final of the ICC U-19 World Cup final 2024 at Willowmore Park in Benoni South Africa.
• Key points-
  • Player of Tournament- Kwena Maphaka (South Africa)
  • Leading run-scorer of the tournament- Uday Saharan (India)

Source: BS

1. MoE & FIFA collaborates to Promote Football in Indian Schools.
• What 👉 Ministry of Education has partnered with FIFA to promote football in schools across India.
• Objective-
  • To distribute 11 lakh footballs to more than 1.5 lakh schools, making the sport accessible to students nationwide.
• Key points-
  • Footballs will be distributed under Footballs for Schools (F4S) program.
  • F4S aims to empower millions of children globally through football.
  • F4S initiative seeks to integrate football-related activities into the education system, emphasizing inclusivity regardless of gender.

Source: cxotoday

Memorandum of Understanding

1. MoU between Mahindra Defence Systems Limited and Brazil-based Embraer Defense & Security.
• What 👉 Embraer Defense & Security and Mahindra have signed a MoU with the objective of jointly fulfilling the acquisition of the C-390 Millennium multi-mission aircraft by the Indian Air Force in its upcoming Medium Transport Aircraft (MTA) procurement project.

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