18th-19th January 2025

1. Union Minister Rajiv Ranjan Singh inaugurated ‘Entrepreneurship Development Conclave’ in Pune, Maharashtra
2. MoD & BDL Ink Rs. 2,960 crore Contract for MRSAM
3. C-DOT Partners with IIT Delhi to Develop THz Communication Front Ends for 6G Technology
4. BoB Launches ‘BoB Liquid FD scheme’
5. Google-Backed Pixxel Launches First Three Satellites of Firefly Constellation
6. DPIIT Partners with ITC to Bolster India’s Startup Ecosystem
7. India’s 6th Astronomical Observatory & Eastern India’s 1st Inaugurated in WB
8. WEF Includes CEAT and HUL in the Global Lighthouse Network
9. Indian Navy Participates in 5th Edition of La Perouse 25 Multinational Naval Exercise
10. PFC Sign 120 Billion JPY Loan Deal with JBIC for RE Projects in India
11. IREDA Partners with SJVN, GMR and NEA for 900 MW Upper Karnali Hydropower Project in Nepal
12. BPCL Signs Loan Agreement with SBI – led Consortium for Expansion Projects
13. Uttarakhand Signs MoU with Iceland’s Verkís for Geothermal Energy Development
14. Jeff Bezos’ Blue Origin Launched ‘New Glenn Rocket’ on First Test Flight
15. SpaceX Falcon 9 Launches Blue Ghost and Resilience Lunar Landers from Kennedy Space Center
16. China Launches PRSC-EO1 Satellite for Pakistan’s Space Program
17. ISM, CG Power and CSPL Sign Fiscal Support Agreement
18. FIU-IND & NHB ink MoU to enhance coordination and information exchange
19. QS World Future Skills Index 2025: USA topped; India ranked 25th
20. Nigeria Joined BRICS as the 9th Partner Country
21. Shriram Life Insurance Launches Sunischit Labh Savings Plan
22. Amitav Ghosh’s new book, Wild Fictions addressing climate change & societal issues
23. National Disaster Response Force Raising Day 2025 – January 19
24. Overview of Singapore President Tharman Shanmugaratnam’s visit to India from January 14 to 18, 2025
25. Union Minister Dr. Jitendra Singh inaugurated India’s 1st of its kind CSIR Innovation Complex in Mumbai
26. Climate Change, Conflict, Digital Inequality Disrupting Children’s Lives: UNICEF Report
27. IDFC FIRST Bank Unveils ‘FIRST EARN RuPay Credit Card’
28. GlobalData: HDFC Bank, ICICI Bank & SBI Rank Among Top 25 Global Banks by Market Cap; JP Morgan Chase Tops the List
29. Shriram Housing Finance Rebranded as TruHome Finance
30. Moody’s Lowers India’s Economic Growth Forecast to 7% for FY 2024-25
31. CSE & NCDEX signs MoU for Commodities and Derivatives Trading
32. Gyanendra Pratap Singh Appointed as DG of CRPF
33. India Open 2025: Viktor Axelsen, An Se-Young secure men’s and women’s singles titles
34. Jannik Sinner and Iga Natalia Świątek Crowned ITF World Champions 2024
35. India’s digital leap: WEF’s C4IR India launches 6-year impact report
36. MHA approves creation of two new battalions

National News

1. India’s Sixth and First Astronomical Observatory of Eastern India Inaugurated

• What:
  • The first astronomical observatory in Eastern India has been inaugurated in Garpanchkot Hills, Purulia district by the Satyendra Nath Bose National Centre for Basic Sciences in West Bengal.
• Why:
  • The observatory aims to enhance research capabilities in astronomy and astrophysics in the region.
• Tell me more:
  • This is the sixth such astronomical observatory centre in the country and has been named after Satyendra Nath Bose.
  • An automatic weather forecast center has also been established to monitor local weather conditions. The best observation period is from November to April due to clearer skies.
  • The observatory is situated at an elevation of 600 meters above sea level, chosen for its low pollution levels.

Source: TS

2. Singapore President Tharman Shanmugaratnam Visits India

• What:
  • H.E. Mr. Tharman Shanmugaratnam, President of Singapore, is on a State Visit to India from January 14 to 18, 2025.
• Why:
  • The visit aims to strengthen bilateral ties and commemorate the 60th anniversary of India-Singapore diplomatic relations.
• Tell me more:
  • President Tharman was welcomed by Indian President Smt. Droupadi Murmu and Prime Minister Shri Narendra Modi.
  • He paid homage to Mahatma Gandhi at Raj Ghat and held discussions with Indian leaders on enhancing the Comprehensive Strategic Partnership.
  • The visit includes a trip to Odisha on January 17-18, 2025.

Source: MEA

State News

1. Uttarakhand Signs MoU for Geothermal Energy Development

• What:
  • The Uttarakhand government has signed a Memorandum of Understanding (MoU) with Varkis Consulting Engineers of Iceland to explore and develop geothermal energy in the state.
• Why:
  • The MoU aims to enhance energy security and promote sustainable development in Uttarakhand and India.
• Tell me more:
  • The MoU was signed in Dehradun, with Chief Minister Pushkar Singh Dhami and Iceland’s Ambassador Benedikt Hoskuldsson participating virtually.
  • Iceland will bear the cost of studying the feasibility of geothermal energy in Uttarakhand.
  • Approximately 40 geothermal sites have been identified in the state for potential energy harnessing.

Source: ET

International News

1. Blue Origin Successfully Launches New Glenn Rocket

• What:
  • Blue Origin successfully launched its New Glenn rocket into orbit from Cape Canaveral Space Force Station in Florida.
• Why:
  • The launch aims to demonstrate the rocket’s capability to carry satellites into space and advance Blue Origin’s technology.
• Tell me more:
  • The New Glenn rocket’s first flight took place early in the morning, carrying a demonstration technology called Blue Ring Pathfinder.
  • Although the mission was successful, the first-stage booster did not land safely on the seafaring platform named Jacklyn.
  • The upper stage of the rocket continued to propel itself into orbit after separating from the first stage.

Source: CNN

2. SpaceX Launches Two Lunar Landers for Moon Missions

• What:
  • SpaceX successfully launched a Falcon 9 rocket carrying two lunar landers, Firefly Aerospace’s Blue Ghost and Ispace’s Resilience, from NASA’s Kennedy Space Center in Florida.
• Why:
  • The launch supports NASA’s Artemis program, which aims to establish a long-term human presence on the Moon.
• Tell me more:
  • The Blue Ghost lander will deliver 10 NASA payloads to Mare Crisium and aims to land on March 2 after a journey of 25 days orbiting Earth.
  • The Resilience lander will conduct experiments and deploy the Tenacious rover in Mare Frigoris, taking 4-5 months to reach the Moon.
  • Both landers have established communication and are operational.

Source: CNN

3. Nigeria Joins BRICS as Partner State

• What:
  • Nigeria has officially become a partner state of the BRICS group, which includes Brazil, Russia, India, China, and South Africa.
• Why:
  • The partnership aims to foster international collaboration, economic opportunities, and strategic partnerships aligned with Nigeria’s development goals.
• Tell me more:
  • Nigeria’s inclusion in BRICS comes as the group expands its influence with new members like Egypt, Ethiopia, Indonesia, and the UAE.
  • The Nigerian government plans to use its membership to enhance trade, investment, energy security, infrastructure development, technology, and climate change initiatives.

Source: TOI

Banking and Economy

1. Bank of Baroda Launches New ‘Liquid Fixed Deposit’

• What:
  • Bank of Baroda has introduced new features for its fixed deposit schemes, including “liquid fixed deposits” that allow partial withdrawals and special schemes for super senior citizens with higher returns.
• Why:
  • The new features aim to provide more flexibility and better returns for customers, especially senior citizens, enhancing the overall appeal of fixed deposit products.
• Tell me more:
  • Customers can withdraw from liquid fixed deposits in units of Rs. 1,000 after an initial deposit of Rs. 5,000.
  • The deposit tenure ranges from 12 to 60 months, with interest rates varying based on the prevailing rates.
  • Senior citizens receive additional interest rates, with super senior citizens benefiting from even higher rates.

Source: TOI

2. PFC Secures Major Loan from JBIC for Renewable Energy

• What:
  • State-owned Power Finance Corporation (PFC) has signed an agreement with Japan Bank for International Cooperation (JBIC) for a loan facility of 120 billion Japanese yen (approximately Rs 6,600 crore).
• Why:
  • The loan aims to finance PFC’s renewable energy projects, supporting India’s shift to non-fossil-fuel energy sources.
• Tell me more:
  • JBIC will provide JPY 72 billion, while the remaining amount will be funded by commercial banks.
  • This long-term loan has a tenure of up to 20 years and is part of JBIC’s initiative for economic growth and environmental preservation.
  • The agreement was signed by PFC’s Chairman and Managing Director Parminder Chopra and JBIC’s Senior Managing Director Ogawa Kazunori.

Source: BS

3. BPCL Secures ₹31,802 Crore Loan for Expansion

• What:
  • Bharat Petroleum Corporation Ltd. (BPCL) has signed a loan agreement of ₹31,802 crore with the State Bank of India (SBI) Consortium to finance a petrochemical complex and refinery expansion at Bina, Madhya Pradesh.
• Why:
  • The loan aims to support the development and operation of BPCL’s petrochemical projects and expand refinery capacity.
• Tell me more:
  • The loan will be funded by SBI and other consortium members, including Punjab National Bank, Union Bank of India, Canara Bank, Bank of India, and Export Import Bank of India.
  • The petrochemical complex will produce products like LLDPE, HDPE, polypropylene, benzene, toluene, and mixed xylene.
  • The refinery capacity will increase from 7.8 million tonnes per annum to 11 million tonnes per annum.

Source: ET

4. Shriram Life Insurance Launches New Savings Plan

• What:
  • Shriram Life Insurance has introduced Shriram Life Sunishchit Laabh, a non-participating individual savings plan that guarantees returns of up to 668% of the total premium paid.
• Why:
  • The plan aims to provide financial stability and growth, helping customers achieve long-term goals such as retirement planning and children’s education.
• Tell me more:
  • The plan is available for individuals aged 30 days to 60 years, with minimum annual premiums starting at ₹30,000.
  • It offers flexible maturity income payout options and death benefits of up to 160 times the annualized premium.
  • Customers can customize their maturity income payouts and have the option to receive tax-free payouts for up to 40 years.

Source: BS

5. IDFC FIRST Bank Launches UPI-Enabled RuPay Credit Card

• What:
  • IDFC FIRST Bank, in collaboration with RuPay, has launched the FIRST EARN UPI-enabled RuPay Credit Card.
• Why:
  • The card aims to provide users with a convenient way to make UPI payments while earning cashback and accruing interest on fixed deposits.
• Tell me more:
  • The credit card is backed by a fixed deposit, making it easily accessible online.
  • Users can earn 100% cashback (up to ₹500) on their first UPI transaction within 15 days and receive 1% cashback on transactions via the IDFC FIRST Bank app.
  • Additional benefits include discounts on Zomato movie tickets, roadside assistance, lost card liability cover, and personal accident insurance.

Source: BS

6. Indian Banks Rank Among Top Global Banks

• What:
  • HDFC Bank, ICICI Bank, and SBI ranked 13th, 19th, and 24th globally by market capitalization in Q4 2024, according to a report by GlobalData, a leading data analytics and research company.
• Why:
  • The rankings reflect the resilience of Indian banks amid rising competition and cost pressures.
• Tell me more:
  • HDFC Bank’s market cap was $158.5 billion, ICICI Bank’s was $105.7 billion, and SBI’s was $82.9 billion.
  • The total market capitalization of the top 25 global banks reached $4.6 trillion, a 27.1% increase year-on-year.
  • JPMorgan Chase remains the largest bank globally with a market cap of $674.9 billion.

Source: ET

7. Shriram Housing Finance Rebrands as Truhome Finance

• What:
  • Shriram Housing Finance has been rebranded as Truhome Finance after its acquisition by Warburg Pincus and QIA.
• Why:
  • The rebranding follows the completion of the sale of Shriram Housing Finance’s stake to Warburg Pincus for ₹3,929 crores.
• Tell me more:
  • The acquisition involved Warburg Pincus buying 84.44% of the shares in Shriram Housing Finance.
  • Ravi Subramanian, MD & CEO of Truhome Finance, emphasized that the mission to provide affordable home loans remains unchanged.

Source: HBL

Reports and Indices

1. QS World Future Skills Index 2025

• What:
  • The USA topped the list, while countries like the UK, Germany, and Australia were among the top ten.

• Why:
  • The report evaluated job market readiness based on over 280 million global job postings.
• Tell me more:
• India has been ranked second in job preparedness for future skills such as artificial intelligence (AI) and green skills, according to the QS World Future Skills Index 2025.
• Overall, India ranked 25th across all indicators, which include skills alignment with employer needs and academic readiness.
• India scored poorly on the ‘skills fit’ parameter, indicating a gap between workforce skills and employer expectations.
• India received a perfect score of 100 for economic capacity but only 15.6 for future-oriented innovation in sustainability.

Source: IE

GDP Forecasts

1. Moody’s Lowers India’s Economic Growth Forecast

• What:
  • Moody’s has reduced India’s economic growth forecast to 7% for the fiscal year ending March 2025, down from 8.2% in the previous year.
• Why:
  • The downgrade is due to a broader slowdown in both global and domestic economic conditions.
• Tell me more:
  • India’s GDP per capita at purchasing power parity rose by 11% to $10,233 in FY 2023.
  • The Federation of Indian Chambers of Commerce and Industry (FICCI) also revised its GDP growth estimate for FY 2024-25 to 6.4%.
  • The Asian Development Bank (ADB) lowered its forecast for FY 2024 to 6.5%, citing weak industrial growth and reduced government spending.
  • The Reserve Bank of India previously cut its growth projection to 6.6% for FY25.

Source: ET

Defence News

1. Defence Ministry Signs MRSAM Contract with BDL

• What:
  • The Ministry of Defence (MoD) signed a contract with Bharat Dynamics Limited (BDL) for the supply of Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy, costing approximately Rs 2,960 crore.
• Why:
  • The contract aims to enhance India’s defence capabilities and promote the indigenisation of advanced military technology.
• Tell me more:
  • The MRSAM system will be installed on multiple Indian Naval Ships and is intended for future naval platforms.
  • The missiles will be supplied under the ‘Buy (Indian)’ category, focusing on indigenous content.

Source: PIB

2. Indian Navy Joins Multinational Naval Exercise La Perouse 25

• What:
  • The Indian Navy, with destroyer INS Mumbai, is participating in the multinational naval exercise La Perouse 25 in the Malacca, Sunda, and Lombok straits between the Indian Ocean and the Pacific Ocean.
• Why:
  • The exercise aims to enhance maritime safety and improve cooperation among participating nations to respond to maritime crises.
• Tell me more:
  • La Perouse 25 began on January 16 and will continue until January 24.
  • Participating nations include Australia, Canada, the US, France, India, Indonesia, Malaysia, the UK, and Singapore.
  • The exercise focuses on various maritime security operations and uses IORIS for communication and coordination during crises.
  • The exercise is conducted by the French Carrier Strike Group led by Charles De Gaulle aircraft carrier.

Source: ANI

3. MHA Approves Two New CISF Battalions

• What:
  • The Ministry of Home Affairs (MHA) has approved the creation of two new battalions for the Central Industrial Security Force (CISF).
• Why:
  • This expansion aims to boost India’s security infrastructure and enhance the operational capacity of the CISF.
• Tell me more:
  • The new battalions will increase the total number of CISF battalions from 13 to 15, with each battalion consisting of 1,025 personnel.
  • The recruitment will involve 2,050 personnel across various ranks and will be commanded by a Senior Commandant-level officer.
  • The CISF provides security to critical infrastructure such as airports and power plants.
  • The recently sanctioned Mahila Battalion is part of this expansion, which aims to increase CISF’s overall strength to 2 lakh personnel.

Source: ET

Science and Technology

1. Google-Backed Pixxel Launches India’s First Commercial Satellite Constellation

• What:
  • Bengaluru-based Pixxel successfully launched the first three satellites of its Firefly constellation, marking India’s first commercial satellite constellation.
• Why:
  • The launch aims to provide critical climate and Earth insights, solidifying India’s position in the global space economy and addressing environmental challenges.
• Tell me more:
  • The satellites were launched aboard SpaceX’s Transporter-12 mission from Vandenberg Space Force Base, California.
  • They are the world’s highest-resolution commercial hyperspectral satellites, capturing images with a resolution six times sharper than conventional satellites.
  • The Firefly satellites can monitor chemical compositions, vegetation health, and atmospheric conditions using over 150 spectral bands.
  • They operate in a sun-synchronous orbit at about 550 km altitude and have a daily revisit capability.

Source: BS

Awards

1. CEAT and HUL Join Global Lighthouse Network

• What:
  • Two India-based facilities, CEAT and Hindustan Unilever Ltd (HUL), have been added to the Global Lighthouse Network by the World Economic Forum.
• Why:
  • The purpose is to recognize their innovative manufacturing practices and use of advanced technologies.
• Tell me more:
  • The Global Lighthouse Network now includes 189 industry leaders using Fourth Industrial Revolution technologies.
  • CEAT’s Sriperumbudur facility improved productivity by deploying over 30 digital solutions, achieving a 25% increase in labor productivity.
  • HUL’s Tinsukia facility implemented over 50 digital use cases, enhancing supply chain agility and reducing planning periods significantly.

Source: ET

Important Dates

1. 15th Spanish Super Cup

• Barcelona clinched their record-breaking 15th Spanish Super Cup title by winning over Real Madrid in the final of the 2025 edition.
• Established in 1982, the tournament initially featured a two-team format, pitting the La Liga champions against the Copa del Rey winners.
• In 2019, it evolved into a four-team competition, including the champions and runners-up of both the domestic league and the cup.

Source: TS

Sports

1. India Open 2025 Badminton Tournament in New Delhi

Source: OC

2. ITF Names Jannik Sinner and Iga Swiatek World Champions

• What:
  • The International Tennis Federation (ITF) has named Jannik Sinner and Iga Swiatek as the world champions of 2024 for their outstanding performances in Grand Slam and top events.
• Tell me more:
  • Jannik Sinner (Italian), currently the world number one, won his first Grand Slam title at the Australian Open and another at the U.S. Open, finishing the season with a 73-6 win-loss record.
  • Iga Swiatek (Polish) won her fourth French Open title, four WTA 1000 trophies, and a bronze medal at the Paris Olympics.

Source: TH

Memorandum of Understanding

1. C-DOT and IIT Delhi Collaborate for 6G Development

• What:
  • The Centre for Development of Telematics (C-DOT) signed an agreement with IIT Delhi to develop “Building Blocks for THz Communication Front Ends” for 6G technology.
• Why:
  • This collaboration aims to accelerate research and develop an ecosystem for 6G as part of the Bharat 6G vision, focusing on intelligent and secure connectivity.
• Tell me more:
  • The project will create essential devices for THz systems, which are crucial for 6G communications and other applications like military communications. The agreement was signed under the Telecom Technology Development Fund (TTDF).
  • The project will utilize chip fabrication facilities in India to develop core components at IIT Delhi, in partnership with SAMEER Kolkata.

Source: PIB

2. India Signs Agreement to Boost Semiconductor Manufacturing

• What:
  • A Fiscal Support Agreement (FSA) was signed between the India Semiconductor Mission, CG Power and Industrial Solutions Ltd., and CG Semi Pvt. Ltd. on January 17, 2025.
• Why:
  • The agreement aims to strengthen India’s semiconductor manufacturing ecosystem through CG’s OSAT facility.
• Tell me more:
  • The semiconductor OSAT unit is being set up in Sanand, Gujarat, with a total investment of approximately ₹7,600 crore.
  • The project will receive 50% fiscal support for eligible capital expenditure from the India Semiconductor Mission.
  • The project aims to help India reach a $500 billion production target in electronics by 2030.

Source: PIB

3. NCDEX Signs MoU with Colombo Stock Exchange

• What:
  • The National Commodity and Derivatives Exchange (NCDEX) signed a memorandum of understanding (MoU) with the Colombo Stock Exchange (CSE) to establish a framework for commodities and derivatives trading.
• Why:
  • The agreement aims to facilitate knowledge transfer and share expertise between the two exchanges.
• Tell me more:
  • The MoU includes assistance for advanced trading systems, capacity building through training programs, and infrastructure development.
  • Both exchanges will collaborate on product design, development, trading systems, and regulatory frameworks.

Source: BS

Appointments

1. Gyanendra Pratap Singh Appointed as New CRPF Chief

• What:
  • Gyanendra Pratap Singh, a 1991 batch IPS officer and current DGP of Assam Police, has been appointed as the new Director General (DG) of the Central Reserve Police Force (CRPF).
• Tell me more:
  • He is expected to take charge at the CRPF headquarters after overseeing security for Republic Day celebrations in Assam.
  • Vitul Kumar has been serving as the officiating chief of CRPF since the retirement of Anish Dayal Singh.

Source: TOI

Miscellaneous

1. Amitav Ghosh Launches New Book “Wild Fictions”

• What:
  • Author Amitav Ghosh launched his new book “Wild Fictions (Essays)” at the India International Centre (IIC).
• Tell me more:
  • Amitav Ghosh is known for notable works like “The Hungry Tide” and “The Shadow Lines.”
  • He won the Erasmus Prize last year for his contributions to literature.

Source: HT

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