CDSCO launches NSWS Portal for Medical Devices ManagementOn January 1, 2024, the Central Drugs Standard Control Organisation (CDSCO), under the Directorate General of Health Services, Ministry of Health & Family Welfare(MoHFW), launched the National Single Window System (NSWS) Portal to streamline, import, clinical investigations, and testing of medical devices.
The site is designed and developed by Invest India, under the Department for Promotion of Industry and Internal Trade(DPIIT), Ministry of Commerce and Industry(MoCI), through Tata Consultancy Service (TCS) for CDSCO.
About NSWS portal:
i.The portal will be a one-stop shop for all approvals required by the investor and facilitates ease of doing business
ii.This is an independent portal distinct from the existing SUGAM portal or the cdscomdonline portal for the medical devices industry.
iii.The Know Your Approvals (KYA) module of the portal includes guidance for 32 Central Departments and 32 States.
iv.This hosts applications for approvals from 31 Central Departments and 22 State Governments.
Key Points:
i.Initially, three activities under Medical Devices Rules, 2017- Certificate of Registration (CoR), license to manufacture medical devices for clinical purposes, and license to import medical devices for investigations or testing, went live on NSWS from January 1, 2024.
ii.Stakeholders are mandated to submit applications for these activities through the NSWS portal, as the existing cdscomdonline portal for these activities will be disabled from January 15, 2024.
iii.The CDSCO also released a user guide for navigation and a contact number for user queries.
Background:
During the 2020 budget speech, Nirmala Sitharaman, Union Finance Minister, announced the creation of an Investment Clearance Cell (ICC), a single platform to enable investors, entrepreneurs, and businesses in India to identify and get the required approvals and clearances.
The proposed ICC is now developed as NSWS.
Digital Drugs Regulatory System (DDRS):
In November 2023, CDSCO initiated the development of Digital Drugs Regulatory System (DDRS) to unify all regulatory activities into a single portal for drugs, medical devices, cosmetics, etc.

Desert Cyclone 2024: 1st India-UAE Joint Military Exercise Begins in Mahajan, Rajasthan Desert Cyclone 2024, the 1st edition of the India-United Arab Emirates (UAE) joint military exercise, commenced in Mahajan, Rajasthan on 2nd January 2024. The 2-week-long Exercise will conclude on 15th January 2024.

• The goal of the exercise is to achieve shared security objectives and foster bilateral relations between two nations.

Note: “Desert Eagle”, the first-ever India-UAE Joint Air Forces exercise took place in September 2008 at the Al-Dhafra base in Abu Dhabi, UAE.
Objective:
To boost interoperability in Sub-conventional Operations, focusing on Fighting in the Built-Up Area (FIBUA) within desert and semi-desert terrain under Chapter VII of the United Nations (UN) Charter on Peace Keeping Operations.

• It will enhance cooperation and interoperability between both sides during Peace Keeping Operations.

Participants:

• UAE contingent: 45 personnel from the Zayed First Brigade.
• Indian Army contingent: 45 personnel, primarily by a Battalion from the Mechanised Infantry Regiment.

Planned Drills:
i.The drills under ‘Desert Cyclone 2024’ demonstrate India and the UAE’s joint dedication to regional security and stability.

ii.Various drills are set to be rehearsed during the exercise, including:

• Establishment of a Joint Surveillance Centre;
• Cordon and Search Operation;
• Domination of Built-Up Area;
• Heliborne Operations.

Note: It aims to enhance interoperability by learning and sharing best practices in urban operations.
About United Arab Emirates (UAE):
Capital– Abu Dhabi
President– His Highness Sheikh Mohamed bin Zayed Al Nahyan
Currency– UAE Dirham (AED)

Govt amends CCS (Pension) rules 2021; Allows Female Govt Servant/Pensioner to Nominate her child for Family PensionDepartment of Pension and Pensioners’ Welfare (DoPPW), under the Ministry of Personnel, Public Grievances & Pensions, has amended the Central Civil Services (CCS) (pension) rules, 2021, to allow female government servant/pensioner to nominate her child/children for family pension in precedence to her husband.
Note: The sub-rules (8) and (9) of Rule 50 of CCS (Pension) Rules, 2021, states that if a deceased Government servant/pensioner is survived by a spouse, a family pension is initially granted to the spouse, with other family members becoming eligible only after the spouse becomes ineligible or passes away.
Details of the amendment:
i.In case of any marital discord leading to filing of divorce proceedings in a Court of Law or filing of a case under Protection of Women from Domestic Violence Act or Dowry Prohibition Act or under Indian Penal Code(IPC), the female govt servant/pensioner can make a request to the effect that in the event of her death, the family pension may be granted to her eligible child in precendence to her spouse.
ii.In the event of the death of the female govt servant/pensioner during the pendency of the above proceedings the family pension will be disbursed as following,
(a)Widower without eligible children – family pension is payable to the widower.
(b)Widower with minor children or children with disorder or disability of mind

• The family pension goes to the widower (acting as guardian).
• If the widower ceases to be the guardian, the pension is redirected to the child through the actual guardian.
• Upon attaining the majority, the child receives the pension till the time they are eligible.

(c)Widower with children who have attained majority but are eligible for family pension. – family pension is payable to child/children.
Note:
If a child/children cease to be eligible under Rule 50 of the CCS (Pension) Rules, 2021, the family pension passes to other eligible child/children.
After all, children are ineligible under Rule 50, the widower receives a family pension until death or remarriage, whichever comes first.

J&K becomes First UT to Implement PM Vishwakarma YojanaJammu and Kashmir (J&K) has become the first Union Territory (UT) in India to implement the Pradhan Manthiri Vishwakarma Yojana (PMVY).  The training programme for the 1st batch of 30 trainees (Viswakarmas) in ‘darzi craft’ under PMVY was inaugurated at Industrial Training Institute (ITI) Shopian, J&K.
Key People: The training programme was virtually inaugurated by Rajeev Rai Bhatnagar, Advisor to Lieutenant Governor of J&K and Atul Kumar Tiwa, Secretary, Union Ministry of Skill Development and Entrepreneurship (MSDE).
About PM Vishwakarma Yojana(PMVY):
i.PM Vishwakarma Yojana(PMVY) is a Central Sector Scheme (CSS) launched by the Ministry of Micro, Small and Medium Enterprises (MoMSME) in September 2023.
ii.The scheme aims to improve the quality and reach of products and services of artisans and craftspeople
iii.The tagline of the scheme is ‘Samman Samarthya Samridhi’
iv.The beneficiary should be at least 18 years old.
v.The scheme will cover 18  traditional crafts such as

• Carpenter, Boat Maker, Armourer, Blacksmith, Hammer and Tool Kit Maker, Locksmith, Goldsmith, Potter, Sculptor & Stonebreaker, Cobbler (Shoesmith/ Footwear artisan), Mason (Rajmistri), Basket/Mat/Broom Maker/Coir Weaver, Doll & Toy Maker (Traditional), Barber, Garland maker, Washerman, Tailor and Fishing Net Maker.

vi.The scheme offers a collateral-free loan of upto Rs 3 Lakh at a concessional interest rate of 5%
vii.The scheme also offers incentives for digital transactions and marketing support.
viii.The scheme aims to cover 30 lakh families over five years from Financial Year 2023-24(FY24) to FY28
About the training program:.
i.The trainees will be offered basic training of 5 to 7 days, and advanced training of 15 days or more.
ii.The trainees will be paid a stipend of Rs 500 per day and will receive a free modern toolkit worth Rs 15,000.

Five New Countries Join BRICS in 2024Five countries namely Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) has joined BRICS(Brazil, Russia, India, China, and South Africa) bloc as their membership came into force from January 1, 2024.

• With the induction of new members, BRICS’ membership count increased to 10 from 5.

Background:
The act of inducting new members into the bloc was decided in 15th BRICS summit under the chairmanship of  South Africa in August 2023.
: Argentina which was supposed to join BRICS withdrew from the entry by its President Javier Milei.
Key Points:
i.The addition of new members is seen as a strategic effort to reshape traditional global order into a multipolar world with voices from the Global South taking a more prominent role on the international stage.
ii.Inclusion of two huge powers (Saudi Arabia and UAE) highlights the growing assertiveness of middle powers challenging the established Western-led order.
iii.The expansion of the BRICS also creates new investment opportunities in Saudi Arabia and the UAE.
iv.Both countries are diversifying their economy across various sectors, including tourism, real estate, construction, transport, manufacturing, and capital expenditure.
2024 BRICS chairmanship:
i.On 1st January 2024, Russia has taken over the BRICS chairmanship.
ii.Russian President Vladimir Putin stressed the commitment to advancing global development and security through the theme “Strengthening Multilateralism for Equitable Global Development and Security.”
iii.16th BRICS summit was scheduled to happen in Kazan, Russia in October 2024.
About BRICS:
i.BRICS was formed in September 2006 and it originally comprised Brazil, Russia, India and China (BRIC).
ii.It was renamed as BRICS after South Africa was accepted as a full member in September 2010.
iii.At present, the BRICS represents 41% of the global population, 24% of the global Gross Domestic Product (GDP) and 16% of the global trade.

RBI revised guidelines for Inoperative Accounts and Unclaimed Deposits; Enhances Bulk Deposit Limit for Large UCBs to Rs 1cr & abovei.On January 1, 2024, the Reserve Bank of India (RBI) has issued revised guidelines for classifying accounts and deposits as inoperative accounts and unclaimed deposits by banks which will come into effect from April 1, 2024.
ii.These instructions by RBI are issued in exercise of the powers conferred by Sections 35A of the Banking Regulation (BR) Act, 1949 read with Sections 26A, 51 and 56 of the Act ibid and all other provisions of this Act or any other laws enabling RBI to issue instructions in this regard.
iii.Unclaimed credit balances in bank accounts inactive for ten years or more, as per paragraph 3(iii) of the Depositor Education and Awareness (DEA) Fund Scheme, 2014, must be transferred to the RBI’s DEA Fund, following the provisions outlined in the DEA Fund Scheme, 2014.
iv.RBI also revises Bulk Deposits limit for Urban Co-operative Banks (UCBs) by increasing it from to Rs 1 crore and above from Rs 15 lakh and above for Scheduled Primary (Urban) Co-operative Banks, in Tier 3 and 4. This is 6.66 times increase.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

LEO and NSDL Payment Bank launched the MasterCard Powered LEO1 CardLEO1 (formerly known as Financepeer), an Edu-fintech startup, in collaboration with NSDL Payments Bank Limited (NPBL), the wholly-owned subsidiary of National Securities Depository Ltd (NSDL), has launched ‘LEO 1 Card’ which is India’s first numberless Prepaid ID card with MasterCard as a network partner.
Bank of Baroda launches NCMC RuPay Prepaid Card
The Bank of Baroda (BoB), one of a public sector bank, has launched the National Common Mobility Card (NCMC) RuPay Reloadable Prepaid Card in alignment with the ‘One Nation, One Card’ initiative.
About LEO1:
Founder & Managing Director (MD) – Rohit Gajbhiye
Headquarters – Mumbai, Maharashtra
Established in – 2017
About Bank of Baroda (BoB):
Managing Director and Chief Executive Officer(CEO) – Debadatta Chand
Headquarters – Vadodara, Gujarat (Corporate centre is in Mumbai, Maharashtra)
Established in – 1908
Tagline – India’s International Bank

HDFC Bank Executed Transactions as part of the ‘UPI for secondary market’ Facility
HDFC Bank Limited has executed transactions via the National Payments Corporation of India (NPCI)’s Unified Payments Interface (UPI) payments app as a part of the ‘UPI for secondary market’ facility.

• This is in line with “Trading supported by Blocked Amount in Secondary Market” which was permitted by the Security and Exchange Board of India (SEBI) and Indian Stock Exchanges, on an optional basis.
• This is similar to the Application Supported by Blocked Amount (ASBA) facility available for primary markets.

Trading supported by Blocked Amount in Secondary Market:
The funds of the buyer of the share(s) will continue to remain in their savings account with the required funds being blocked.

RBI grants Payment Aggregator Licence to Tata Pay & DigiO
Tata Group’s digital payments arm, Tata Communications Payment Solutions Limited (Tata Pay), has received approval from the Reserve Bank of India (RBI) to act as a Payment Aggregator (PA).

• The approval from RBI allows Tata Groups to power all their e-commerce transactions within its subsidiary entities through Tata Payments Limited.
• The Groww (financial services platform)-backed identity verification startup, DigiO, also has received PA licence from RBI.

About Tata Communications Payment Solutions Limited:
Tata Payments is held through Tata Digital Private Limited, which is the digital business arm of and subsidiary of Tata Group.
Managing Director & Chief Executive Officer – A.S.Lakshminarayanan
Headquarters –  Mumbai, Maharashtra
Established in – 2008

REC Limited & RVNL signed MoU to Finance RVNL Infrastructure Projects up to Rs 35,000 Cr REC Limited (formerly Rural Electrification Corporation Limited) signed a Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL) to finance up to Rs 35,000 crore for multi-modal infrastructure projects to be executed by RVNL over the next 5 years.

• These projects will include multi-modal logistics hub projects, rail infrastructure projects, and road, port, and metro projects where RVNL is venturing into.

Note: REC Ltd is a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power, whereas RVNL is a Schedule ‘A’ Navratna CPSE under the Ministry of Railways.
Signatories: Ajoy Choudhury, Director (Finance), REC; and Rajesh Prasad, Director (Operations), RVNL, signed the MoU.
Key People:
V.K Dewangan, Chairman and Managing Director (CMD), REC Ltd; Sanjeeb Kumar, Director (Finance), RVNL; Anupam Ban, Director (Personnel) of RVNL, and other senior officials from REC and RVNL were present during the event.
Key Points:
i.REC Ltd provides long-term loans and financial solutions for the power infrastructure sector, covering Generation, Transmission, Distribution, Renewable Energy (RE), Electric Vehicles (EVs), Battery Storage, and Green Hydrogen.
iii.REC Ltd diversified into the Non-Power Infrastructure sector including Roads and Expressways, Metro Rail, Airports, etc. and Electro-Mechanical (E&M) works for sectors like Steel and Refinery.

• REC’s substantial loan book exceeds Rs. 4,74,275 Crore.

iii.RVNL serves approximately 30% of Indian Railways’ infrastructure requirements. It pioneers large infrastructure projects under the Public-Private Partnership (PPP) PPP model.
iv.RVNL’s primary focus is on Railway projects, with expansions into road, port, irrigation, and metro projects, often interlinked with railway infrastructure.
About REC Limited:
CMD– Vivek Kumar Dewangan
Headquarters– Gurugram, Haryana
Established in– 1969

Indian Cricketer Virat Kohli Won Pubity Sport Men’s Athlete of Year 2023 AwardIndian cricketer Virat Kohli won the Pubity Sport Men’s Athlete of the Year 2023 Award by defeating Argentine footballer Lionel Messi in the final clash of the online poll in which Kohli got 78 percent out of the total votes while Messi got remaining 22 percent.

• Spanish footballer Aitana bonmati (76%)wins Pubity female Athlete of The Year 2023 Award by defeating American tennis player Coco Gauff (24%).

About Virat Kohli:
i.Virat Kohli made his international debut in 2008 against Sri Lanka in a One-Day International(ODI) match held in Sri Lanka.
ii.He is the third highest run-scorer in ODI’s with 13848 runs while Sachin Ramesh Tendulkar-India(18426 runs) and Kumar Chokshanada Sangakkara-Sri Lanka(14234 runs) are in first and second position respectively.

• Kohli set a world record for the highest run tally in a single edition of the ODI World Cup (2023 in India), scoring 765 runs.

iii.His notable awards include Arjuna award in 2013.
iv.He was also honored with the Padma Shri award in 2017 in the field of sports.

• And Rajiv Gandhi Khel Ratna Award (Name changed into Major Dhyan Chand Khel Ratna) in 2018.

About the selection of the award:
i.The award was selected based on the online poll conducted by  Pubity Sport, a subsidiary channel of Pubity.
ii.The poll for the Pubity Sport Men’s Athlete of the Year featured 16 sports players across various disciplines.
iii.The Top 4 players in the list includes Virat Kohli and Lionel Messi, Novak Djokovic (tennis – Serbia) and Max Verstappen (Formula 1 motorsport – Belgian-Dutch ).

MNRE sets up 3-member Dispute Resolution Committee to Settle Unforeseen Disputes between Developers and REIAsThe Ministry of New & Renewable Energy (MNRE) has set up a 3-member Dispute Resolution Committee (DRC) to resolve “unforeseen disputes” between Renewable Energy (solar and wind) Power developers, Engineering, Procurement, and Construction (EPC) contractors, and Renewable Energy Implementing Agencies (REIAs).
Members of the committee: Rajesh Bhushan, Former Health Secretary; M F Farooqui, Former Telecom Secretary; and Kumar Alok, Former Chief Secretary of Tripura.
Background:
i.In June 2023, MNRE issued an order to revise the Dispute Resolution Mechanism (DRM) for disputes between RE Power Developers and EPC Contractors.
ii.The revised mechanism aims to ensure transparency and an unbiased platform for resolving disputes in the RE by forming a 3-member DRC to settle disputes between developers and REIAs.
iii.The committee has been set up in line with the approval of Union Minister Raj Kumar Singh, MNRE.
About the committee:
i.The members of the committee will be chosen from eminent individuals with impeccable integrity in the National Capital Region (NCR) to avoid expenditure on air travel and accommodation travel expenses.
ii.The upper age limit for the members is 70 years.
DRC Applicability:
i.The mechanism of DRC will apply to all the RE schemes, programs, and projects being implemented through REIAs.

• The mechanism targets disputes, particularly those related to time extensions, impacting the government’s ambitious goal of achieving a 500-gigawatt clean energy capacity by 2030.

ii.It will also apply to contractual agreements between REIAs and EPC contractors executing RE power projects owned by a REIA.
iii.DRC commits to meeting at least once a week, ensuring timely resolution for pending cases or applications.
Note: REIAs in India includes NTPC Limited, formerly known as National Thermal Power Corporation, Solar Energy Corporation of India Limited (SECI), SJVN Limited, formerly known as Satluj Jal Vidyut Nigam, etc.

CCI Approves 100% Acquisition of GVK Power (Goindwal Sahib) Ltd by PSPCLThe Competition Commission of India (CCI) has approved the proposed acquisition of 100% shareholding of GVK Power (Goindwal Sahib) Limited by Punjab State Power Corporation Ltd (PSPCL).
Note: This relates to the resolution plan, entailing the 100% acquisition of GVK Power (Goindwal Sahib) Limited by PSPCL once it is declared as the resolution applicant.
Point to note:
i.Punjab government has acquired the Goindwal Sahib Thermal Power Plant, for Rs 1,080 crore. With this, Punjab has become the first state government to purchase a private thermal plant.
ii.The 540-Megawatt (MW) thermal plant will be named after Guru Amardass, the 3rd  Guru of Sikhs.
Punjab State Power Corporation Ltd(PSPCL):
i.PSPCL is a fully owned undertaking of the Government of Punjab headquartered in Patiala, Punjab.
ii.it was formed as the Punjab State Electricity Board (PSEB), in February 1959 under the Electricity Supply Act of 1948.
ii.In 2010, the PSEB was restructured and split into 2 separate entities:

• Punjab State Power Corporation Limited (PSPCL) and
• Punjab State Transmission Corporation Limited (PSTCL).

GVK Power (Goindwal Sahib) Limited:
GVK Power (Goindwal Sahib) Limited, incorporated in December 1997, is a wholly owned subsidiary of GVK Energy Limited, a subsidiary of GVK Power and Infrastructure Limited.
Headquarters– Secunderabad, Telangana

ICICI Venture to Sell its Entire 42% Stake in Theobroma Food Ltd 
Mumbai (Maharashtra) based ICICI Venture Funds Management Company Limited has decided to sell its entire 42% paid-up share capital in Mumbai-based Theobroma Food Private Limited for Rs 1,200 crore.

• It takes six to nine months to complete the deal.
• ICICI Venture on-boarded Theobroma Food Private Limited in 2017 with a commitment to offer USD 20 million to expand it throughout India.

About ICICI Venture Funds Management Company Limited:
ICICI Venture is an alternative investment arm of ICICI Bank Limited.
Managing Director and Chief Executive Officer (CEO) – Puneet Nanda
Established in – 1988