17th January, 2024

1. Ministry of New and Renewable Energy (MNRE) has launched the ‘New Solar Power Scheme‘ with an outlay of Rs 515 crore for electrification in habitations and villages of Particularly Vulnerable Tribal Groups (PVTG).
2. World Health Organization (WHO) has launched the International Classification of Diseases (ICD-11), Traditional Medicine (TM) Chapter Module 2 at the event held in India Habitat Centre in New Delhi.
3. Mumbai Trans Harbour Link (MTHL), also known as the Atal Bihari Vajpayee Sewri Nhava Sheva Atal Setu has been inaugurated.
4. Denmark has started a new project called “Green Fuels Alliance India” to strengthen teamwork between India and Denmark in the field of sustainable energy solutions.
5. China has launched new satellite ‘Einstein Probe‘ shaped like a lotus to observe violent cosmic phenomena.
6. ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited has introduced its mobile banking application, “Money2India (Canada)”.
7. Reserve Bank of India (RBI) has imposed monetary penalties of about Rs.2.49 crore on Dhanlaxmi Bank Limited, Punjab & Sind Bank and ESAF Small Finance Bank Limited for contravention of regulatory norms.
8. RBI has imposed monetary penalties on 5 cooperative banks for deficiencies in regulatory compliance.
9. Over 24.8 crore people have moved out of poverty in India in 9 years as per NITI Aayog Multidimensional Poverty Index.
10. International Energy Agency (IEA) has released “Renewables 2023” report.
11. UBS Securities India Private Limited has reduced the growth of the Indian economy for the financial year 2024-25 (FY25) to 6.2% from 6.3%.
12. Indian Coast Guard (ICG) and Japan Coast Guard (JCG) have conducted a 5-day annual joint exercise, ‘Sahyog Kaijin, off the coast of Chennai, Tamil Nadu.
13. Indian Army has indigenously developed an end-to-end secure mobile ecosystem called SAMBHAV (Secure Army Mobile Bharat Version) to enhance national defense capabilities.
14. President of India, Droupadi Murmu has conferred Swachh Survekshan awards 2023 at Bharat Mandapam, New Delhi hosted by the Ministry of Housing and Urban Affairs (MoHUA).
15. Appointment Committee of the Cabinet (ACC) headed by Prime Minister (PM) Narendra Modi has approved the reappointment of Michael Debabrata Patra as Deputy Governor of the Reserve Bank of India (RBI).

National News

1. Ministry of New and Renewable Energy (MNRE) has launched the ‘New Solar Power Scheme‘ with an outlay of Rs 515 crore for electrification in habitations and villages of Particularly Vulnerable Tribal Groups (PVTG).
   • Objective-
     • To provide solar power in 1 lakh un-electrified households identified by the Ministry of Tribal Affairs (MoTA) in 18 states across India and the Union Territories (UT) of Andaman & Nicobar.

   • Key points-
     • Scheme was launched under the Pradhan Mantri Janjati Adivasi Nyaya Abhiyan (PM- JANMAN) programme.
     • Tenure- From Financial Year 2023-24 (FY24) to Financial Year 2025-26 (FY26).
     • Scheme has made provisions for 0.3 kiloWatt (kW) off-grid solar systems in places where power supply is not techno-economically feasible through the grid.
     • It also provides solar lighting in 1,500 Multi-Purpose Centres (MPCs) in PVTG areas where electricity through the grid is not possible.
     • Funding-
       • Out of the allocated fund, 20 crore will be allocated in FY24, Rs.255 crore in FY25, and Rs 240 crore in FY26.
       • Out of Rs 515 crore, Rs 500 crore will be used for electrification of houses in tribal areas, which includes setting up of 0.3 kW solar off-grid system for one lakh PVTG houses.

2. World Health Organization (WHO) has launched the International Classification of Diseases (ICD-11), Traditional Medicine (TM) Chapter Module 2 at the event held in India Habitat Centre in New Delhi.
   • Key points–
     • ICD 11 TM module 2 includes data and terminology related to diseases based on Ayurveda, Siddha, and Unani(ASU) Systems.
     • Terms defining diseases in these traditional systems are indexed as morbidity codes and included in the WHO Disease Classification Series ICD-11.

   • What is International Classification of Diseases ?
     • ICD-11, or the 11th revision of the International Classification of Diseases, is a global standard for recording health information and causes of death.
     • ICD-11 undergoes annual updates by the World Health Organization (WHO) to ensure its relevance and accuracy in reflecting the current understanding of diseases and health conditions.
     • It was officially adopted by the 72nd World Health Assembly in 2019.
     • It came into effect on January 1, 2022, marking the transition from ICD-10 to ICD-11 for health information recording.
   • WHO Collaboration Centre:
     • The Central Bureau of Health Intelligence (CBHI), under the Ministry of Health and Family Welfare (MoHFW), serves as the WHO Collaboration Centre for ICD-related activities.
       Source: PIB
     
     

   
   
   
3. Mumbai Trans Harbour Link (MTHL), also known as the Atal Bihari Vajpayee Sewri Nhava Sheva Atal Setu has been inaugurated.
   • More about MTHL-
     • It is longest sea bridge covering 21.8 km out of which 16.5 km is over the sea link.
     • It connects Sewri in Mumbai to Chirle in Raigad district in Navi Mumbai.
       Source: HT
     
     
     
     
   
   
   
   

International News

1. Denmark has started a new project called “Green Fuels Alliance India” to strengthen teamwork between India and Denmark in the field of sustainable energy solutions.
   • Objective-
     • To boost sustainable growth in India by fostering collaboration among businesses, government entities, research institutions, and financial stakeholders from both Indian and Danish sectors.

   • Key points-
     • Project will help both countries work together to achieve the shared global aim of carbon neutrality.
     • Danish Embassy and the Consulate General of Denmark in India are leading this initiative.

2. China has launched new satellite ‘Einstein Probe‘ shaped like a lotus to observe violent cosmic phenomena.
   • Objective-
     • To observe mysterious transient phenomena in the universe that flicker like fireworks.

   • More about Einstein Probe-
     • It uses X-ray detection technology inspired by functioning of lobster eye.
     • It was launched by Long March-2C carrier.
       Source: DH

   
   

Banking and Economy

1. ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited has introduced its mobile banking application, “Money2India (Canada)”.
   • More about Money2India (Canada)-
     • The app enables instant money transfer from any bank in Canada to any bank in India
     • Customers of other banks can also transfer money to India using this app
     • Users can send up to CAD 30,000 in a single transaction
       Source: prnewswire
     
     
     
     
   
   
   
   
   
   
2. Reserve Bank of India (RBI) has imposed monetary penalties of about Rs.2.49 crore on Dhanlaxmi Bank Limited, Punjab & Sind Bank and ESAF Small Finance Bank Limited for contravention of regulatory norms.
   • Details of penalty-
     • Penalty of Rs 1.20 crore has been imposed on Dhanlaxmi Bank for non-compliance with certain directions on ‘Loans and Advances Statutory and Other Restrictions‘, KYC and certain norms related to interest rate on deposits.
     • Penalty of Rs 1 crore has been imposed on Punjab and Sind Bank for non-compliance with certain directions on ‘Loans and Advances Statutory and Other Restrictions’.
     • Penalty of Rs 29.55 lakh has been imposed on ESAF Small Finance Bank for non-compliance with the directions issued by it on ‘Customer Service in Banks.
       Source: Business Standard
     
     
     
     

3. RBI has imposed monetary penalties on 5 cooperative banks for deficiencies in regulatory compliance.
   • RBI has imposed these penalties in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
   • List of Banks-

   
   

Source: livemint

Report and Indices

1. Over 24.8 crore people have moved out of poverty in India in 9 years as per NITI Aayog Multidimensional Poverty Index.
   • Key points-
     • Multidimensional poverty in India has declined from 29.17% in 2013-14 to 11.28% in 2022-23, with about 24.82 crore people moving out of this bracket during this period.
     • National multidimensional poverty measures simultaneous deprivations across 3 equally weighted dimensions of-
     • Health,
     • Education, and
     • Standard of living
     • National Multidimensional Poverty Index (MPI) by Niti Aayog has used the Alkire Foster methodology to assess the decline in poverty rates.

   • State level performance-
     • At the State level, Uttar Pradesh has topped the list with 5.94 crore people escaping poverty followed by Bihar at 3.77 crore and Madhya Pradesh at 2.30 crore.
     • Recent National MPI was based on National Family Health Surveys 4 (2015-16) and National Family Health Surveys 5 (2019-21).
     • Percentage reduction in multidimensional poverty (MDP) in 2019-21 since 2015-16: Bihar, U.P., M.P., Chhattisgarh, Odisha, Rajasthan, Jharkhand, and Assam showed a reduction of over 13%
       Source: The Hindu
     
     
     
     

2. International Energy Agency (IEA) has released “Renewables 2023” report.
   • Key observations-
     • India is expected to add 203 GW of renewable capacity.
     • China will account for 56% of renewable energy capacity additions (2,060 gigawatts) in between 2023-28, and rest of the world will add 1,574 GW.
     • China will be followed by European Union and the United States as the next biggest builders of renewable energy, at 429 GW and 337 GW respectively.
     • 11 countries that make up the Association of Southeast Asian Nations (ASEAN) are expected to boost capacity by a combined 63 GW.

Source: ET

GDP Forecasts

1. UBS Securities India Private Limited has reduced the growth of the Indian economy for the financial year 2024-25 (FY25) to 6.2% from 6.3%.
   • Key points-
     • Gross domestic product (GDP) of India is projected to reach USD 3.9 trillion in FY25, up from USD 3.57 trillion in FY24.
     • Consumption growth is expected to stabilize at 4.7% in FY25, compared to 4.5% in FY24.
       Source: ET

Defence News

1. Indian Coast Guard (ICG) and Japan Coast Guard (JCG) have conducted a 5-day annual joint exercise, ‘Sahyog Kaijin, off the coast of Chennai, Tamil Nadu.
   • Key points-
     • Exercise has been held as per the Memorandum of Cooperation (MoC) signed between India and Japan in 2006, promoting interactions between the 2 Coast Guard organisations.
     • MoC also includes high-level visits, annual joint exercises, training exchanges, and participation in workshops and seminars.
     • 5-day training and exercise covers important aspects of chemical pollution at sea, and safety equipment including hands-on practical training on the response equipment.
     • Focus areas- chemical pollution response training, search and rescue and maritime law enforcement.
       Source: ET
     
     

   
   
   
   
2. Indian Army has indigenously developed an end-to-end secure mobile ecosystem called SAMBHAV (Secure Army Mobile Bharat Version) to enhance national defense capabilities.
   • Key points-
     • It operates on 5G technology with multi layer encryption.
     • It has been developed in close collaboration with national centres of excellence from academia and industry.
       Source: ET
     
     

Awards

1. President of India, Droupadi Murmu has conferred Swachh Survekshan awards 2023 at Bharat Mandapam, New Delhi hosted by the Ministry of Housing and Urban Affairs (MoHUA).
   • List of Winners in different category-

• List of winners in Fast Moving City category-

• List of winners in other category-

Source: PIB

Appointments

1. Appointment Committee of the Cabinet (ACC) headed by Prime Minister (PM) Narendra Modi has approved the reappointment of Michael Debabrata Patra as Deputy Governor of the Reserve Bank of India (RBI).
   • Key points-
     • The appointment is effective from January 15.
     • He was first appointed as a Deputy Governor in January 2020 for a three-year term.
     • He oversees the monetary policy department and serves as a member of the Monetary Policy Committee (MPC), which decides on interest rates.
       Source: DH
2. Ministry of Housing & Urban Affairs (MoHUA) has appointed Maheshwar Rao as the new Full-time Managing Director (MD) of the Bangalore Metro Rail Corporation Limited (BMRCL).
   Source: Indian Express

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