20th February, 2024
Jyotisar interpretation centre, Asha Kirana Eye Care at Your Doorstep, Digital Naari platform, Maha Parivartan Diwas 2.0, State of India’s Digital Economy Report, 2024, Exercise – Vayu Shakti-24, MILAN exercise, Forbes 30 Under 30 list, World Pangolin Day, Global Tourism Resilience Day, Badminton Asia Team Championships
- Prime Minister Narendra Modi has virtually inaugurated the Mahabharata-themed Jyotisar interpretation centre project from Rewari, Haryana.
- Prime Minister Narendra Modi was on official visit to U.A.E. from 13th February to 14th February, 2024.
- Karnataka Chief Minister Siddaramaiah has launched ‘Asha Kirana Eye Care at Your Doorstep‘ under the aegis of National Programme for Control of Blindness and Visual Impairment.
- Insurance Regulatory and Development Authority of India (IRDAI) has granted in-principle approval to Policybazaar Insurance Brokers (Policybazaar) to upgrade its license from a direct insurance broker (Life and General) to a composite insurance broker.
- PayNearby, a branchless banking and digital network has launched a platform Digital Naari to generate sustainable self- employment for women.
- Insurance Regulatory and Development Authority of India (IRDAI) has announced the reconstitution of the Expert Committee on the implementation of Ind AS/IFRS.
- Bank of Maharashtra (BoM) has celebrated its 89th Business Commencement Day as “Maha Parivartan Diwas 2.0” in Pune.
- Life Insurance Corporation of India (LIC) has launched a new endowment plan – Amritbaal, an individual, savings, life insurance plan.
- State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes for its customers.
- India is the 3rd largest digitalised country in the world as per the State of India’s Digital Economy Report, 2024, by Indian Council for Research on International Economic Relations (ICRIER).
- Indian Air Force has conducted Exercise – Vayu Shakti-24 in Pokhran Range, Jaisalmer, Rajasthan.
- Defence Acquisition Council (DAC) has approved the Acceptance of Necessity (AoNs) for various capital acquisition proposals amounting to Rs 84,560 crore.
- 12th edition of the MILAN exercise is scheduled to take place in Visakhapatnam, Andhra Pradesh.
- Indian Space Research Organisation (ISRO) has successfully launched meteorological satellite INSAT-3DS on launch vehicle GSLV-F14.
- Forbes India has revealed its prestigious 30 Under 30 list for 2024.
- World Pangolin Day
- Global Tourism Resilience Day
- Indian women badminton team has won the Badminton Asia Team Championships crown by defeating Thailand in finals.
- Government of India and the Government of Taiwan signed a Memorandum of Understanding (MoU) on the Facilitation of Employment of Indian Workers in Taiwan.
Table of Content
National News
- Inauguration of the Mahabharata-themed Jyotisar project.
- What ❓ Prime Minister Narendra Modi has virtually inaugurated the Mahabharata-themed Jyotisar interpretation centre project from Rewari, Haryana.
- Prime Minister’s visit to the United Arab Emirates on 13th-14th February.
- What ❓ Prime Minister Narendra Modi was on official visit to U.A.E. from 13th February to 14th February, 2024.
- Key initiatives taken during the visit-
- Bilateral Investment Treaty
- Inter-Governmental Framework Agreement on the India-Middle East-Europe Economic Corridor (IMEEC)
- Memorandum of Understanding for cooperation on Digital Infrastructure Projects
- Memorandum of Understanding in the field of Electricity Interconnection and Trade.
- Memorandum of Understanding for cooperation with the National Maritime Heritage Complex, Lothal at Gujarat.
- Cooperation Protocol between the National Library and Archives of the UAE and the National Archives of India.
- Agreement on interlinking of the instant payment platforms – UPI (India) and AANI (UAE).
- Agreement on inter-linking domestic debit/credit cards – RuPay (India) with JAYWAN (UAE).
Source: TI
Source: mea
State News
- Karnataka has launched ‘Asha Kirana Eye Care at Your Doorstep’.
- What ❓ Karnataka Chief Minister Siddaramaiah has launched ‘Asha Kirana Eye Care at Your Doorstep‘ under the aegis of National Programme for Control of Blindness and Visual Impairment.
- Key points-
- Launched by- Department of Health and Family Welfare, Government of Karnataka
- Eligibility- Permanent resident of Karnataka
- Services offered under the scheme includes diagnosis, treatment, spectacle distribution, and cataract surgeries at free of cost for eligible beneficiaries.
- Primary eye check-ups will be conducted by Health personnel and Accredited Social Health Activist (ASHA) workers.
- Individuals having eye problems during the screening are referred to the PHCs for secondary screening.
Source: BS
Banking and Economy
- IRDAI approved Policybazaar to Upgrade to a Composite Insurance Broker.
- What ❓ Insurance Regulatory and Development Authority of India (IRDAI) has granted in-principle approval to Policybazaar Insurance Brokers (Policybazaar) to upgrade its license from a direct insurance broker (Life and General) to a composite insurance broker.
- What is Direct Insurance Broker and Composite Insurance Broker?
| Direct Insurance Broker | Composite Insurance Broker |
| Direct brokers are the kind of insurance broker licensed by the IRDAI, who helps their clients in getting insurance coverage, provides claim consultancy and also offer risk management services for a remuneration or a fee. | As per IRDAI, composite broker means an insurance broker which is registered by the authority, who for a remuneration and/or a fee, solicits and arranges insurance and or re-insurance for their clients located in India or abroad. |
| A direct broker offers advisory insurance services which are apt for their clients as they have detailed and updated knowledge of the overall insurance market and products. | They are responsible for providing claims consultancy, risk management services, permitted under IRDAI (Insurance Brokers) Regulations, 2018. |
| Knowledge Nuggets - |
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About Insurance Regulatory and Development Authority of India (IRDAI) - • IRDAI is a statutory body established under the Insurance Regulatory and Development Authority Act, 1999. • Its mandate includes overall supervision and development of the Insurance sector in India. • Headquarters- Hyderabad • Established- 1999 • Chairperson- Debasish Panda |
Source: HBL
- Digital Naari platform to generate self-employment for women.
- What ❓PayNearby, a branchless banking and digital network has launched a platform Digital Naari to generate sustainable self- employment for women.
- Objective-
- To provide additional income generation opportunities for women in rural and semi-urban areas, the statement said.
- Key points about Digital Naari Platform-
- Platform will enable the ‘banker didi‘ to provide a diverse range of financial and digital services to the masses.
- Platform is aligned with the government’s ‘Lakhpati Didi‘ initiative.
- It seeks to onboard and uplift 100,000 women by the end of 2025.
- Person will have the flexibility to offer services at her convenience in terms of time, location (from home/store) and product preferences.
- Platform will collaborate with various livelihood missions, including Uttar Pradesh State Rural Livelihood Mission, Rajasthan Grameen Aajeevika Vikas Parishad and Grameen Foundation India.
| Knowledge Nuggets - |
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About Lakhpati Didi Scheme- • It was announced by the Prime Minister in his Independence Day speech on August 15, 2023. • Objective:
• Women will be trained in various skills, such as plumbing, LED bulb making, drone operation and repair, and tailoring and weaving. About Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) - • It is a flagship poverty alleviation program implemented by the Ministry of Rural Development, Government of India. • Objective:
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Source: ET
- IRDAI reconstitutes expert committee for Ind AS/IFRS implementation.
- What ❓Insurance Regulatory and Development Authority of India (IRDAI) has announced the reconstitution of the Expert Committee on the implementation of Ind AS/IFRS.
- Key points-
- Expert Committee consists of 13 member and will be headed by the Member (Finance and Investment) F&I of IRDAI.
- Important members of the committee include-
- Chairman of the Accounting Standards Board (ASB) of ICAI,
- President of the Institute of Actuaries of India (IAI),
- CGM & HOD of IRDAI’s Actuarial Department
- Functions of committee-
- Committee will work on steps that may be taken towards the effective implementation of Ind AS/IFRS, along with giving phase-wise timelines.
- It will also give recommendations on proforma financial statements, suggestions on financial disclosures in compliance with Ind AS/IFRS.
| Knowledge Nuggets - |
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About Ind AS/IFRS - • IFRS and IND AS stands for International Financial Reporting Standards and Indian Accounting Standards respectively. • IFRS and IND AS are accounting standards adopted by the companies in India. |
Source: BS
- BoM marks 89th Business Commencement Day
- What ❓Bank of Maharashtra (BoM) has celebrated its 89th Business Commencement Day as “Maha Parivartan Diwas 2.0” in Pune.
- Key points-
- Bank has launched 89 new digital products and services as part of its digital transformation journey, focusing on digital operations.
- Bank will adopt of cutting-edge technologies like AI, ML, and RPA to enhance operational efficiency and customer service
- Schemes such as Mahabank Equipment Finance Scheme and special cluster schemes to support MSMEs, Corporates, and specific industries like the glass bangle industry are introduced.
- Instant KCC loans for farmers in Karnataka and an “Earned Salary Advance Drawals Scheme” for Rajasthan government employees were launched digitally.
- Bank has launched an E-OTS platform for debt resolution in NPA accounts.
| Knowledge Nuggets - |
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About Bank of Maharashtra - • Headquarters- Pune, Maharashtra • Established- 1935 • MD & CEO- A S Rajeev |
Source: BS
- LIC has launched a Non-Participating Product ‘Amritbaal’ For Children.
- What ❓**Life Insurance Corporation of India (**LIC) has launched a new endowment plan – Amritbaal, an individual, savings, life insurance plan.
- More about Amritbaal-
- Amritbaal is specifically designed to have an adequate corpus to meet the higher education and other needs of the child.
- Policy guarantees additions at the rate of Rs 80 per thousand basic sum assured.
- Minimum age at maturity is 18 years (last birthday) and Maximum Age at maturity is 25 years (last birthday).
- Minimum sum assured is Rs 2 lakh and there is no limit for the maximum basic sum.
- Minimum entry age- 30 days
- Maximum entry age- 13 Years
- SBI allows customers to digitally enrol under PMJJBY and PMSBY schemes.
- What ❓State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes for its customers.
- Key points-
- The customer needs to key in the account number, date of birth on Jan Suraksha portal and to select the Bank.
- The Certificate of Insurance is generated instantly on payment of premium.
Source: ET
Source: HBL
Reports and Indices
- India is the 3rd largest digitalised country in the world.
- What ❓India is the 3rd largest digitalised country in the world as per the State of India’s Digital Economy Report, 2024, by Indian Council for Research on International Economic Relations (ICRIER).
- Key points-
- India is only behind the United States of America (USA) and China.
- At the level of individual users, India is ranked 12th in terms of digitalisation among the G20 countries.
- Study is based on ‘CHIPS’ framework wherein it has scored countries on 5 pillars – connect, harness, innovate, protect and sustain.
Source: BS
Defence News
- IAF Conducts ‘Exercise – Vayu Shakti-24’ in Rajasthan.
- What ❓Indian Air Force has conducted Exercise – Vayu Shakti-24 in Pokhran Range, Jaisalmer, Rajasthan.
- Theme- Lightning Strike from the Sky
- DAC clears capital acquisition proposals worth Rs 84,560 crore.
- What ❓Defence Acquisition Council (DAC) has approved the Acceptance of Necessity (AoNs) for various capital acquisition proposals amounting to Rs 84,560 crore.
- Key point-
- Amendments in Defence Acquisition Procedure 2020 has received the approval to promote procurement of advanced technologies from Start-Ups & MSMEs.
Source: PIB
| Knowledge Nuggets - |
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About Defence Acquisition Council - • Defence Acquisition Council is responsible for the procurement and acquisition of weapons and equipment for the Indian military. • Chairman- Defence Minister (Rajnath Singh is the current Defence Minister of India) |
Source: PIB
- 12th edition of the MILAN exercise.
- What ❓12th edition of the MILAN exercise is scheduled to take place in Visakhapatnam, Andhra Pradesh.
- Key points-
- Theme- “Forging Naval Alliances for a Secure Maritime Future”
- Objective- To strengthen collaboration among participating navies
- More than 50 nations will take part in the exercise.
Source: AIR
Science and Tech
- Launch of GSLV-F14/INSAT-3DS
- What ❓Indian Space Research Organisation (ISRO) has successfully launched meteorological satellite INSAT-3DS on launch vehicle GSLV-F14.
- Objective-
- To improve the monitoring of Earth’s surface, atmosphere, oceans, and environment, elevate capabilities in data collection and dissemination and satellite-aided search and rescue services.
Source: PIB
Awards
- Forbes India unveils 30 Under 30 List 2024.
- What ❓Forbes India has revealed its prestigious 30 Under 30 list for 2024.
- Key points-
- List contains 38 young individuals across 19 categories, under the age of 30, who are making significant contributions across diverse fields.
- Few famous names include– Rashmika Mandanna (Actor), Zepto Co-founders Aadit Palicha and Kaivalya Vohra (E-commerce and retail), Vishnu Acharya (Finance)
Source: IE
Sports
- Badminton Asia Team Championships 2024.
- What ❓Indian women badminton team has won the Badminton Asia Team Championships crown by defeating Thailand in finals.
- Key points-
- This is the first time India have won the prestigious continental team championship title.
- Indian men’s team had previously won two bronze – in 2016 and 2020.
- Medal Tally for Badminton Asia Team Championships 2024-
| Medal | Men’s Winner | Women’s Winner |
| Gold | China | India |
| Silver | Malaysia | Thailand |
| Bronze | Japan and South Korea | Japan and Indonesia |
Source: India Today
Memorandum of Understanding
- India, Taiwan sign MoU to send Indian workers to semiconductor.
- What ❓Government of India and the Government of Taiwan signed a Memorandum of Understanding (MoU) on the Facilitation of Employment of Indian Workers in Taiwan.
- Objective-
- To strengthen the bilateral labour cooperation relations between India and Taiwan.
Source: BS
About Anuj Jindal
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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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