23rd January 2025

1. Subhas Chandra Bose Jayanti 2025
2. INCOIS Honored with Subhash Chandra Bose Aapda Prabandhan Puraskar-2025
3. Discovery of a Rare Umamaheshwara Sculpture in Karnataka
4. Dhananjay Shukla Becomes ICSI President for 2025
5. Yala Glacier in Nepal Set to Vanish by 2040s Due to Climate Change
6. Gujarat to host 1st Olympic Research Conference
7. Indian IT Giants Lead 2025 Brand Finance IT Services Rankings
8. Chhattisgarh CM Launches Rs 10K Annual Aid Scheme for Labourers
9. Trump Withdraws US from Paris Agreement Again
10. India Slips to Third Place in Edelman Trust Barometer 2025 Rankings
11. Seven Products from Andaman and Nicobar Islands Granted GI Tags
12. India & USA Sign MoU to Boost Cybercrime Investigation Cooperation
13. Bajaj Finance, Bharti Airtel partner to launch digital financial services platform
14. HSBC Hurun Global Indians List 2024: Microsoft’s Satya Nadella topped
15. JD Vance Takes Office as Vice President
16. ISRO Successfully Demonstrated Restarting of Vikas Liquid Engine
17. K. Ramchand, Founder & Director of CABS passed away
18. UNESCO & WMO Declare 2025 as International Year of Glaciers’ Preservation
19. Chhattisgarh Launches ‘Deendayal Upadhyay Bhoomheen Krishi Majdoor Kalyana Yojana’ for Landless Labourers
20. Gujarat CM inaugurates GIFT IFI and Innovation Hub in Gandhinagar

State News

1. Unique Uma Maheshwara Sculpture Found in Udupi

• What:
  • A unique Uma Maheshwara sculpture was discovered in Taggunje of Ajri gram panchayat, Kundapur taluk in the Udupi district of Karnataka.
• Why:
  • The sculpture highlights the confluence of Shaiva, Shakta, and Naga worship traditions.
• Tell me more:
  • The sculpture is made of panchaloha and measures approximately 35 cm tall and 26 cm wide.
  • The sculpture is attributed to the 17th century.
  • The style of the sculpture reflects characteristics of the 12th century.
  • Professor Murugeshi T provided insights into the sculpture’s historical significance.

Source: TOI

2. Gujarat to Host 1st Olympic Research Conference

• What:
  • Officials from the Indian Olympic Association (IOA) and experts will meet in Gujarat in the 1st International Olympic Research Conference to discuss strategies for financing and building sustainable sports infrastructure for hosting the 2036 Olympics.
• Tell me more:
  • The 1st International Olympic Research Conference will take place from January 27-30 at Rashtriya Raksha University in Gandhinagar, Gujarat.
  • Key topics include “2036 Vision: Pathway to become an Olympic host” and “Greening the Games: Integrating sustainability into the Indian Olympic plan strategies.”
  • The conference is organized in collaboration with the Union Ministry of Youth Affairs and Sports.

Source: HBL

3. Gujarat Launches GIFT International FinTech Institute

• What:
  • Gujarat Chief Minister Bhupendra Patel inaugurated the GIFT International FinTech Institute and International Hub in Gandhinagar.
• Why:
  • The initiative aims to encourage startups, particularly in the FinTech sector, and establish Gujarat as a global destination for FinTech innovation.
• Tell me more:
  • The inauguration coincided with National Startup Day (January 16, 2025), highlighting the importance of startups in the region.
    • Theme of the day: “Startup India @ 2047 – Unfolding the Bharat Story”
  • The GIFT City Campus is seen as a model for making India a global fintech hub.

Source: ANI

4. Chhattisgarh Launched ‘Deendayal Upadhyay Bhoomiheen Krishi Majdoor Kalyana Yojana’

• What:
  • Chhattisgarh Chief Minister Vishnu Deo Sai launched the ‘Deendayal Upadhyay Bhoomiheen Krishi Majdoor Kalyana Yojana’ in Raipur to provide financial assistance to landless agricultural labourers.
• Why:
  • The scheme aims to support over 5.62 lakh landless agricultural labourers, Baigas, and Gunias in the state by providing them with an annual financial aid of Rs 10,000.
• Tell me more:
  • An amount of over Rs 562 crores was released to beneficiaries at the launch. The Chief Minister emphasized that this initiative would enhance the prosperity of landless agricultural labourers in Chhattisgarh.
  • CM Sai also participated in the ‘Nagar Vikas Ke Sopan’ program, laying the foundation stone for 813 works worth Rs 155.38 crore.
  • Additionally, he inaugurated 70 works worth Rs 15.25 crore and laid the foundation for water supply schemes costing Rs 270 crore under Amrit Mission-2.0 in six urban bodies.

Source: BS

5. Seven Tribal Products from Andaman & Nicobar Receive GI Tags

• What:
  • Rajni Kant, a Padma Shri awardee, helped seven tribal products from Andaman & Nicobar Islands receive Geographical Indication (GI) tags.
• Why:
  • This achievement recognizes the ancient tribal community’s handicrafts and agricultural products, providing them with legal protection and a new identity.
• Tell me more:
  • The initiative was supported by NABARD and facilitated by the Human Welfare Association.
  • This is the first time a single Union Territory in India has received GI tags for seven products at once.
  • The seven GI-tagged products include:
    • Nicobari Mat (Chatrai-hileuoi): Handwoven mats made from natural materials.
    • Nicobari Hut (To Chanvi Pati-Nyi hupul): Traditional huts used for community gatherings.
    • Padauk Furniture & Craft: Furniture made from ornamental Padauk wood.
    • Andaman & Nicobar Coconut: A plant important for the islands’ ecology and economy.
    • Nicobari Tavi-i-Ngaich (Virgin Coconut Oil): Pure coconut oil processed without chemicals.
    • Andaman Karen Musley Rice: A traditional food crop cultivated by the Karen community.
    • Nicobari Hodi Craft: Traditional outrigger canoes built using indigenous knowledge.

Source: TOI1 TOI2

International News

1. Yala Glacier Faces Critical Threat of Disappearance

• What:
  • Yala Glacier in Nepal is expected to vanish by the 2040s and has been included in the Global Glacier Casualty List.
• Why:
  • The inclusion highlights the glacier’s critical status and raises awareness about global ice loss.
• Tell me more:
  • The glacier is crucial for scientists studying the cryosphere and has over a decade of reliable data submitted annually to the World Glacier Monitoring Service.
  • In 2023, glaciers worldwide recorded their largest mass loss in five decades.
  • The Hindu Kush Himalaya cryosphere is warming twice as fast as the global average, affecting around 240 million people.
  • Other critically endangered glaciers include Dagu Glacier in China, expected to disappear by 2030.
  • Recent glacier losses include Pico Humboldt in Venezuela and Sarenne in France, which vanished in 2024 and 2023, respectively.

Source: TOI GGCL

2. US Withdraws from Paris Agreement Again Under Trump

• What:
  • Donald Trump announced the US will withdraw from the 2015 Paris Agreement on climate change immediately after starting his second term.
• Why:
  • This withdrawal reverses Joe Biden’s decision to rejoin the agreement and aims to roll back climate-friendly policies while expanding oil and gas extraction.
• Tell me more:
  • The US is the second-largest emitter of greenhouse gases, and Trump’s policies could significantly impact global emission reduction targets. Current projections show only a 2% reduction in global emissions by 2030, while a 43% drop is needed to limit warming to 1.5°C.
  • Trump argues that international climate regulations unfairly burden the US while being lenient on countries like China.

Source: IE

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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