21st February, 2024

1. National Workshop on Urban Livelihoods has been organised by Ministry of Housing and Urban Affairs (MoHUA) in collaboration with United Nations Development Programme (UNDP).
2. Union Finance Minister, Nirmala Sitharaman has presides over 19th Foundation Day celebrations of Security Printing and Minting Corporation of India Limited (SPMCIL) in New Delhi.
3. Chief Minister of Sikkim has launched Sikkim INSPIRES (Integrated Service Provision and Innovation for Revising Economics), a collaborative effort between the Government of Sikkim and the World Bank.
4. Government of India has increased the authorised capital of Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore.
5. Reserve Bank of India has granted Payment Aggregator license to based Mswipe Technologies Private Limited.
6. Japan has pledged a 232.21-billion-yen (about $1.55 billion) official development assistance (ODA) loan for 9 projects across various sectors in India.
7. SEBI has announced measures for centralization of certifications under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) at KYC Registration Agencies (KRAs).
8. Artificial Intelligence market of India is projected to reach $17 billion by 2027, with a CAGR of 25–35%, as per Nasscom and Boston Consulting Group report.
9. PayPal has registered operations with Financial Intelligence Unit (FIU) of India after 6 years of legal battle.
10. Renowned Urdu poet and lyricist Gulzar and Sanskrit scholar Jagadguru Rambhadracharya have been named the recipients of the 58th Jnanpith Award.
11. Ministry of Parliamentary Affairs has organised Prize Distribution Function of the 16th National Youth Parliament Competition, 2019-20 for Universities/Colleges in New Delhi.
12. World Day of Social Justice 2024
13. Saketh Myneni and Ramkumar Ramanathan of India have clinched the doubles title in the Bengaluru Open tennis.
14. Department of Fisheries signed an Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) to promote digital marketing of fishes and other aquatic produce.
15. Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank have signed a Memorandum of Understanding (MoU) for advancing renewable energy initiatives across the nation.
16. Investor Education and Protection Fund Authority (IEPFA) and DBS Bank have signed an MoU to spread awareness on investment and fraudulent schemes.
17. Ilham Aliyev has been re-elected as the President of Azerbaijan for the 5th consecutive term following his win in the presidential election.
18. SBM Bank India has announced the appointment of Ashish Vijayakar as its Managing Director and Chief Executive Officer for a period of 3 years.
19. Renowned Indian chef and Padma Shri Awardee Mohammed Imtiaz Qureshi has passed away.

National News

1. National Workshop on Urban Livelihoods.
   • What ? National Workshop on Urban Livelihoods has been organised by Ministry of Housing and Urban Affairs (MoHUA) in collaboration with United Nations Development Programme (UNDP).
   • Objective-
     • To explore emerging trends and opportunities in urban livelihoods and empower and strengthen women across urban India.
   • Key points-
     • Panels have discussed strategies for women-led urban livelihoods and emerging sectors like climate, services, retail, and manufacturing.
     • Workshop provides a platform for states to share best practices, facilitating peer learning and replication of successful models.
     • UNDP will work with DAY-NULM to address urban poverty through livelihood promotion strategies and specific solutions for communities.

2. 19th Foundation Day celebrations of Security Printing and Minting Corporation of India Limited (SPMCIL).
   • What ? Union Finance Minister, Nirmala Sitharaman has presides over 19th Foundation Day celebrations of Security Printing and Minting Corporation of India Limited (SPMCIL) in New Delhi.
   • Key points-
     • Union Finance Minister has also launched 3 souvenir coins:
     • Coloured souvenir coin on Endangered Animals of India – Greater One Horned Rhino;
     • Bi-metallic clad souvenir coin on Enlightenment of Buddha; and
     • Coloured souvenir coin of Ral Lalla and Ayodhya Ram Mandir

Source: PIB

State News

1. Sikkim launches INSPIRES, a world bank assisted programme.
   • What ? Chief Minister of Sikkim has launched Sikkim INSPIRES (Integrated Service Provision and Innovation for Revising Economics), a collaborative effort between the Government of Sikkim and the World Bank.
   • Objective-
     • To provide better economic opportunities for women and youth through training and employment initiatives.

   • Key points-
     • The initiative will engage 9 government departments over the next 5 years to create an ecosystem for economic prosperity.
     • Sikkim INSPIRES focuses on collaboration and capacity-building across various sectors.

   • Other initiatives-
     • Chief Minister has launched ‘Swasth Maan’ Sikkim Mobile App for the well being and awareness for strengthening mental health.
     • App has been developed by the Department of Science and Technology in collaboration with Health Department, Government of Sikkim.

Source: AIR

Banking and Economy

1. Increase in Authorized Capital of Food Corporation of India.
   • What ? Government of India has increased the authorised capital of Food Corporation of India (FCI) from Rs 10,000 crore to Rs 21,000 crore.
   • Objective-
     • To improve the operational capabilities of FCI in fulfilling its mandate effectively
   • Key points-
     • Increase in authorised capital will reduce the interest burden, and decrease the economic cost.
     • FCI will modernise its storage facilities, improve transportation networks, and adopt advanced technologies with increased capital.
   • What is authorised capital?
     • Authorized capital refers to the maximum amount of capital a company is allowed to issue to shareholders as stated in its articles of association.

2. RBI grants payment aggregator licence to Mswipe Technologies.
   • What ? Reserve Bank of India has granted Payment Aggregator license to based Mswipe Technologies Private Limited.
   • Key points-
     • Mswipe had received an in-principle nod from the central bank to operate as a payment aggregator in August 2022.
     • After receiving Payment Aggregator license, Mswipe will become a full-stack payments player, diversifying from offering offline merchant acceptance devices.
   • About Mswipe-
     • Mswipe provides payment solutions, including point-of-sale devices, unified payments interface (UPI), quick response codes and payment links to help offline merchants receive payments digitally.
     • It was established in 2011 and headquartered in Mumbai.

3. Japan commits $1.55 bn ODA loan.
   • What ? Japan has pledged a 232.21-billion-yen (about $1.55 billion) official development assistance (ODA) loan for 9 projects across various sectors in India.
   • Key points-
     • Various projects include road connectivity, climate change response and horticulture, etc.
     • Loan will fund various infrastructure projects in North-east India, including the Dhubri-Phulbari bridge and the Phulbari-Goeragre section of national highway 127B.
     • It will also Finance the construction of the Chennai peripheral ring road and the dedicated freight corridor project.
     • Funding will also promote startups and innovation in Telangana, sustainable horticulture in Haryana, and climate change response in Rajasthan, among other projects.
       Source: livemint

     
     

4. SEBI announces measures for centralization of certifications under FATCA and CRS.
   • What ? SEBI has announced measures for centralization of certifications under Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) at KYC Registration Agencies (KRAs).
   • Key points-
     • Intermediaries are instructed to upload FATCA and CRS certifications from clients to KRAs’ systems starting July 1.
     • Existing certifications pre-July 1 has to be uploaded within 90 days.
     • Responsibility for obtaining and reporting certifications lies with the intermediaries.
     • Intermediaries must confirm reasonableness of certifications based on account opening information and update self-certifications when client-reported changes occur.
     • KRAs required to develop mechanisms and uniform internal guidelines in consultation with SEBI.
       Source: livemint
     
     

5. India’s AI market to reach $17 bn by 2027.
   • What ? Artificial Intelligence market of India is projected to reach $17 billion by 2027, with a CAGR of 25–35%, as per Nasscom and Boston Consulting Group report.
   • Key points-
     • Demand for AI talent in India is expected to grow at 15% CAGR till 2027.
     • India ranks among top 5 nations with 14-fold growth in AI-skilled individuals in 7 years and has the 2nd-highest installed talent base with 420,000 people.
     • Indian tech companies expanding portfolios to include AI-driven analytics, intelligent automation, and personalized customer interactions.
     • Globally, AI investments has grown at 24% CAGR since 2019, reaching $83 billion in 2023.
       Source: livemint

6. PayPal registers operations with Financial Intelligence Unit of India (FIU).
   • What ? PayPal has registered operations with Financial Intelligence Unit (FIU) of India after 6 years of legal battle.
   • What is FIU?
     • It is an organisation under the Department of Revenue, Government of India which collects financial intelligence about offences under the Prevention of Money Laundering Act, 2002.
     • FIU is responsible for receiving, processing, analyzing, and disseminating information related to suspect financial transactions in Indian economic channels to enforcement agencies and foreign FIUs.
       Source: livemint

Awards

1. Lyricist Gulzar and Sanskrit scholar Rambhadracharya selected for Jnanpith Award.
   • What ? Renowned Urdu poet and lyricist Gulzar and Sanskrit scholar Jagadguru Rambhadracharya have been named the recipients of the 58th Jnanpith Award.
   • More about winners-
     • About Gulzar:
     • Sampooran Singh Kalra, popularly known as Gulzar, 89, is celebrated for his works in Hindi cinema and is considered one of the finest Urdu poets of this era.
     • He is also the recipient of the Sahitya Akademi Award for Urdu in 2002, the Dadasaheb Phalke Award in 2013, the Padma Bhushan in 2004
     • About Jagadguru Rambhadracharya
       • He is the founder and head of Tulsi Peeth in Chitrakoot, is a renowned Hindu spiritual leader, educator, and writer of more than 240 books and texts, including four epics.

2. Ministry of Parliamentary Affairs Felicitates Winners of 16th National Youth Parliament Competition.
   • What ? Ministry of Parliamentary Affairs has organised Prize Distribution Function of the 16th National Youth Parliament Competition, 2019-20 for Universities/Colleges in New Delhi.
   • Key points-
     • Union Minister of State, Arjun Ram Meghwal has presided over the function.
     • Awards in various categories-
       • Running shield and trophy for standing 1st at national level-
         • Central University of Punjab, Bathinda
       • Merit trophies for standing 1st in respective group-

• About Youth Parliament Competition-
• Ministry of Parliamentary Affairs has been organizing Youth Parliament Competitions for Universities/Colleges for the past 27 years.
• It aims at acquainting the young generation with the practices and procedures of parliament, techniques of discussion and debate, etc.

Source: mpa.gov.in

Important Days

1. February 20- World Day of Social Justice 2024; Theme- Bridging Gaps, Building Alliances

Sports

1. Bengaluru Open tennis
   • What ? Saketh Myneni and Ramkumar Ramanathan of India have clinched the doubles title in the Bengaluru Open tennis.
   • Key points-
     • Saketh Myneni and Ramkumar Ramanathan defeated the French pair of Constantin Kouzmine and Maxime Janvier.
     • In men’s singles event, Stefano Napolitano of Italy has won the title by defeating Seongchan Hong of South Korea.
       Source: AIR

Memorandum of Understanding

1. Department of Fisheries signs a MoU with Open Network for Digital Commerce.
   • What ? Department of Fisheries signed an Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) to promote digital marketing of fishes and other aquatic produce.
   • Objective-
     • To provide a digital platform and empower all stakeholders to buy and sell their products through e-market place.
   • Other initiative-
     • Shri Parshottam Rupala also released a booklet “From Catch to Commerce, Increasing Market Access through Digital Transformation”.
       Source: PIB

   
   
2. IREDA and Punjab National Bank signed MoU to Co-Finance Renewable Energy Projects.
   • What ? Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank have signed a Memorandum of Understanding (MoU) for advancing renewable energy initiatives across the nation.
   • Objective-
     • To offer strong financial support for various Renewable Energy projects, promoting sustainability and raising environmental awareness.
       Source: PIB
3. IEPFA and DBS Bank signed MoU to spread awareness on investment and fraudulent schemes.
   • What ? Investor Education and Protection Fund Authority (IEPFA) and DBS Bank have signed an MoU to spread awareness on investment and fraudulent schemes.
   • Objective-
     • To support IEPFA’s investor awareness activities by disseminating safety messages via its various digital platforms.
   • Under the MoU, DBS Bank will utilise multiple digital platforms to ensure increased visibility and engagement to impart investor awareness activities of IEPFA.

Source: PIB

Appointments

1. Ilham Aliyev has been re-elected as the President of Azerbaijan.
   • What ? Ilham Aliyev has been re-elected as the President of Azerbaijan for the 5th consecutive term following his win in the presidential election.
     Source: TOI
2. SBM Bank India appoints Ashish Vijayakar as MD & CEO.
   • What ? SBM Bank India has announced the appointment of Ashish Vijayakar as its Managing Director and Chief Executive Officer for a period of 3 years.

Source: ET

Miscellaneous

1. Padma awardee chef Imtiaz Qureshi passes away.
   • What ? Renowned Indian chef and Padma Shri Awardee Mohammed Imtiaz Qureshi has passed away.
   • He was awarded the prestigious Padma Shri in 2016, becoming the first in the chef community to receive it.
     Source: ET

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