CTN PRESS DAILY CURRENT AFFAIRS SERVICES FOR ITS MEMBERS
TODAY’S CURRENT AFFAIRS DIGEST (CAD)
Current Affairs Daily Digest – 09 January 2024
Union Housing & Urban Affairs Minister Hardeep S Puri Launched Refereshed PAiSA Portal & PM SVANidhi Portal Union Minister Hardeep Singh Puri, Ministry of Housing and Urban Affairs (MoHUA), launched 2 portals namely the refreshed Portal for Affordable Credit and Interest Subvention Access (PAiSA Portal) Dashboard; and the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Mission Monitoring Portal during the inauguration of a seminar on ‘Grievance Redressal Committee (GRC) for Street Vendors.
- These portals will provide real-time progress updates on the mission and scheme, fostering transparency and accountability.
- The seminar on ‘GRC for Street Vendors’ was organised by the MoHUA on January 04, 2024 at the India Habitat Centre, New Delhi, Delhi.
About PM SVANidh:
The MoHUA launched the PM SVANidhi scheme on 1 June 2020, to address challenges faced by Street Vendors and help them resume businesses affected by the COVID-19 pandemic.
About PAiSA Portal:
The PAiSA portal was launched on November 26, 2018. The web portal was designed and developed by Allahabad Bank.
It is a centralized hub for processing interest subvention on bank loans to beneficiaries under the Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM).
Seminar on GRC for Street Vendors:
i.The seminar aimed to sensitize all States and Union territories (UTs) about the significance of robust GRCs and brought together key stakeholders, including GRC members, to enhance their understanding of the legal provisions within the Street Vendors Act 2014.
ii.The event provides a platform for capacity building among State officials and GRC members to address the challenges faced by street vendors..
Role of GRC:
i.During the inauguration, the minister emphasised the importance of establishing robust GRCs under the Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
ii.GRCs play a crucial role in ensuring fair treatment, resolving disputes and conflicts among street vendors, and upholding the rights of street vendors as per the Street Vendors Act of 2014.
Street Vendors Act, 2014:
i.It is an Act to protect the rights of urban street vendors and to regulate street vending activities in India and for matters connected therewith or incidental thereto.
ii.The Act safeguards vendors from arbitrary evictions, fostering economic sustainability and contributing to vibrant urban spaces by:
- Forming, 4,342 Town Vending Committees;
- Demarcating 13,403 vending zones;
- Constructing 1,350 vending markets; and
- Issuing 38.06 lakh Certificates of Vending.
Note: Street vendors contribute significantly to the urban informal economy.
Union Minister Mansukh Mandaviya inaugurates “PRASADAM”, India’s 1st Healthy & Hygienic Food Street, at MP
On 7th January 2024, Dr. Mansukh Mandaviya, Union Minister for Health & Family Welfare, inaugurated “PRASADAM”, India’s 1st Healthy & Hygienic Food Street, at Neelkanth Van, Mahakal Lok, in Ujjain, Madhya Pradesh(MP).
- Dr. Mohan Yadav, Chief Minister(CM) of MP along with other dignitaries were present during the inauguration.
PRASADAM, with a total number of 17 shops spread across 939 square meters offers convenient and culturally rich dining options for devotees of Mahakaleshwar Temple.
Other noted Launches:
i.Union Minister also launched the official website for the Healthy & Hygienic Food Street initiative and the brochure outlining the Standard Operating Procedure for Healthy & Hygienic Food Streets.
ii.They also launched the Mannhit app, an initiative facilitating screening for mental health.
iii.Food Safety and Standards Authority of India (FSSAI) released “The DART Book” to empower consumers to tackle adulteration at home with simple tests.
iv.A mobile food testing van called Food Safety on Wheels (FSW) was also launched to conduct training and awareness activities.
DoT makes mandatory M2M, WPAN/WLAN registration to All Entities The Department of Telecommunications (DoT), under the Ministry of Communications (MoC), has mandated Machine-to-Machine (M2M) and Wireless Personal Area Network/Wireless Local Area Network (WPAN/WLAN) registration to all entities engaged in these businesses.
- The registration process must be completed by March 31, 2024, through the SaralSanchar portal (saralsanchar.gov.in)
- The reason behind this mandate is to broaden the scope of registration to foster a standard-based and secure M2M/IoT ecosystem.
Key Points:
i.All entities, include Companies, Government departments, Organizations, Partnerships, LLPs (Limited Liability Partnerships), Institutions, Undertakings, Proprietorship firms, Societies, Trusts engaged in M2M service provisioning and WPAN/WLAN Connectivity Provisioning,
ii.Non-compliance may result in the withdrawal or disconnection of telecom resources from Authorized Telecom Licensees.
iii.This mandate will addresses the concerns of M2M Service Providers and WPAN/WLAN Connectivity Providers related to interface with Telecom Service Providers (TSPs), KYC (Know Your Customer), Security, Encryption, and more.
iv.The above mandate also followed the recommendations of TRAI (Telecom Regulatory Authority of India) on Spectrum, Roaming and Quality of service (QoS) related requirements in M2M communications.
About Telecom Regulatory Authority of India (TRAI):
Establishment– 1997
Headquarters– New Delhi, Delhi
FAO Food Price Index December 2023 stood at 10.1% below 2022 levelsFood and Agriculture Organization of the United Nations (FAO) Food Price Index (FFPI) December 2023 stood at 118.5 points, 1.8 points (1.5%) lower than November 2023 level(120.3) and 13.3 points (10.1%) lower than December 2022 level(130.4).
- For 2023 as a whole, FFPI stood at 124.0 points, 19.7 points (13.7%) lower than the average value in 2022.
- The FAO’s World Food Price Index tracks monthly changes in the international prices of a set of globally-traded food commodities.
FAO Food Price Index:
- In December 2023, the FAO All Rice Price Index rose 1.6% above its November 2023 level.
- The International rice prices saw a 21% annual increase in 2023, primarily due to concerns about the impact of El Niño on rice production and the aftermath of export restrictions imposed by India.
ii.Compared to November 2023, FAO Vegetable Oil Price Index decreased by 1.4% (1.7 points) in December 2023.
iii.The FAO Dairy Price Index increased by 1.6% (1.9 points) in December 2023, marking the third consecutive monthly rise but standing 16.1% lower than a year ago.
v.The FAO Meat Price Index decreased by 1%(1.1 points) in December, standing 1.8% below its value from December 2022.
v.The FAO Sugar Price Index in December dropped by 16.6% from November 2023, marking the lowest level in the past nine months but remained 14.9% above its level in the December 2023.
India & Saudi Arabia signed Bilateral Haj Agreement 2024 in Jeddah
On 7th January 2024, India and the Kingdom of Saudi Arabia signed the Bilateral Haj Agreement 2024 under which a total quota of 1,75,025 pilgrims from India has been finalised for Haj 2024 with 1,40,020 seats reserved for pilgrims to proceed through Haj Committee whereas 35,005 pilgrims would be permitted to proceed through private operators
Signatories: The agreement was signed by Smriti Irani, Union Minister for Minority Affairs and Dr. Tawfiq bin Fawzan, Saudi Minister of Hajj and Umrah in Jeddah in Saudi Arabia in the presence of V Muraleedharan, Union Minister of State(MoS) for External Affairs.
Points to note:
i.Union Minister Irani & MoS Haj Muraleedharan visited the Terminal of King Abdulaziz International Airport, Jeddah, to oversee the arrangements for pilgrims.
ii.On 8th January 2024, Union Minister Irani attended the opening ceremony of the 3rd ‘Haj and Umrah Conference’ in Jeddah organised by the Saudi Ministry of Haj and Umrah Affairs.
IRDAI Eases Norms for Investment in Infrastructure by Insurance CompaniesThe Insurance Regulatory and Development Authority of India (IRDAI) has removed the requirement of case-to-case approval for investment in Infrastructure Debt Funds Non-Banking Financial Companies (IDF – NBFCs) by insurance companies.
- The move aims to encourage investment in the infrastructure sector and enhance the ease of doing business.
- This is in line with the updated regulations for IDF-NBFCs provided by the Reserve Bank of India (RBI) effective from August 2023.
Criteria:
The investment of insurers in IDF-NBFCs is subjected to the following criteria:
i.IDF – NBFCs should be registered with RBI.
ii.The minimum credit rating of AA or its equivalent by a Credit Rating Agency(CRA) registered with the Securities and Exchange Board of India (SEBI) to be eligible for the investment.
iii.These debt securities will have a residual tenure of at least five years.
iv.The investment should be in line with Note 3 of Regulation 9 of IDRAI (Investment) Regulations 2016.
Note: The requirement of case-to-case approval was dictated by Note 2 of Regulation 9 of IDRAI (Investment) Regulations 2016.
What is IDF-NBFC ?
i.An IDF can be established either as a trust or a company.
- If established as a trust, it is designated as an IDF-Mutual Fund (IDF-MF) and is regulated by SEBI.
- If established as a company, it’s labelled as an IDF-NBFC and is subject to regulation by RBI.
ii.An IDF-NBFC means a non-deposit-taking NBFC which is authorized to the following:
- Refinance post Commencement Operations Date (COD) infrastructure projects that have completed at least one year of satisfactory commercial operations.
- They can finance toll operates transfer (TOT) projects as the direct lender.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Established in – 1999 (But Incorporated in 2000)
ADB Sells USD 5 Billion in Dual Tranche 3Yr and 10Yr Bonds to Promote Development in the RegionThe Asian Development Bank (ADB) sells a dual-tranche global benchmark bond valued at USD 3 billion with a maturity of 3 years and at USD 2 billion with a maturity of 10 years to raise USD 5 Billion to promote social and economic development across its member countries in Asia and the Pacific region.
- The raised funds will be contributed to ADB’s ordinary capital resources.
USD 3 Billion – 3year Bond:
i.This 3 year bond will be maturing on 12th January 2027.
ii.Bond Details:
- Coupon Rate: 4.125% per annum
- Coupon Payment Frequency: Semi-annually
- Priced at: 99.663%
- Yield: 11.9 basis points
iii.The bond’s yield is referenced to a benchmark, which is the 4.375% United States (US) Treasury notes due December 2026.
Investor Distribution:
- By Investor Type- Central Banks and Official Institutions (66%), Banks (21%), Fund Managers and Other Investors (13%)
- By Geography – Europe, the Middle East, and Africa (36%), Asia (33%), Americas (31%)
USD 2 Billion – 10year Bond:
i.This 10-year bond will be maturing on 12th January 2034.
ii.Bond Details:
- Coupon Rate: 4.125% per annum
- Coupon Payment Frequency: Semi-annually
- Priced at: 99.530%
- Yield: 21.3 basis points
iii.The bond’s yield is referenced to a benchmark, which is the 4.5% US Treasury notes due November 2033.
Investor Distribution:
- By Investor Type- Banks (50%), Central Banks and Official Institutions (28%), Fund Managers and Other Investors (22%)
- By Geography – Europe, the Middle East, and Africa (54%), Americas (29%), Asia (17%)
Transaction:
i.BofA Securities, Morgan Stanley, Royal Bank of Canada (RBC) Capital Markets, and TD Securities took the lead in managing the transaction.
ii.This is ADB’s first US dollar global benchmark outing for 2024.
Additional Info:
i.A syndicate group, including Canadian Imperial Bank of Commerce (CIBC) Capital Markets, Daiwa Capital Markets Europe, NatWest Markets, Scotiabank, and Standard Chartered Bank, was also formed.
ii.ADB plans to raise about USD 30 billion to USD 34 billion from capital markets in 2024.
About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Headquarters – Mandaluyong City, Manila, Philippines
Estbalished in – 1966
Members – 68 countries (49 countries are from within Asia and the Pacific and 19 outside)
Former US President Barack Obama won 75th Creative Arts Emmy Awards: Outstanding Narrator
Barack Obama, former President of the United States of America(USA) (2009-2017), won the 75th Creative Arts Emmy Award under the Outstanding Narrator category for his Netflix documentary series title Working: What We Do All Day “The Middle”.
- Previously, he won the award in the same category in 2022 for the Netflix documentary series Our Great National Parks “A World Of Wonder”.
- He also has 2 Grammys under the Best Spoken Word Album category for “The Audacity Of Hope: Thoughts On Reclaiming The American Dream” in 2008 and Dreams From My Father (Senator Barack Obama) in 2006.
Note:The Television Academy presented the 75th Creative Arts Emmy® Awards honouring outstanding artistic and technical achievement in television on 6th and 7th January 2024 at Peacock Theater in Los Angeles, California, USA.
List of winners of the 75th Creative Arts Emmy Award(List 1 & List 2)
Sheikh Hasina won 5th Term as the Prime Minister of BangladeshSheikh Hasina (76) , President of Awami League and incumbent Prime Minister of Bangladesh has been re-elected as the PM for the 5th term. This also marks’s her 4th consecutive term as PM of Bangladesh.
- With this win, Sheikh Hasina retains her title as world’s longest-serving female head of state.
Bangladesh General Election 2024:
i.Awami League won the Bangladesh General Election 2024 held on 7th January 2024 securing 216 seats out of 224 seats.
ii.This marks Awami League’s 4th consecutive term.
iii.The 12th parliamentary election has recorded the 2nd lowest voter turnout since the reinstatement of democracy in 1991.
About Sheikh Hasina:
i.She is a daughter of Sheikh Mujibur Rahman, the founding father and first President of Bangladesh. He was killed during the 1975 Bangladeshi coup d’état along with most of his family members.
ii.Following the 1975 massacre of her family, she lived in exile in India for 6 years.
iii.she was elected as the President of the Awami League and returned to Bangladesh in 1981.
iv.She was elected as the Prime Minister of Bangladesh for the first time in 1996. She was re-elected as PM of Bangladesh in 2008, 2014 and 2018.
Awards and honours:
i.United Nations Educational, Scientific and Cultural Organization (UNESCO) Houphouet-Boigny Peace Prize in 1998
ii.Indira Gandhi Peace Prize in 2009.
iii.United Nations(UN)’s Champions of the Earth award in 2015.
About Bangladesh:
President– Mohammed Shahabuddin
Prime Minister– Sheikh Hasina
Capital– Dhaka
Currency– Bangladeshi Taka
Former IPL official Raghuram Iyer Appointed as CEO of IOAOn January 5, 2024, the Indian Olympic Association (IOA) appointed Raghuram Iyer as the its Chief Executive Officer (CEO). Previously, he has served as the CEO of Indian Premier League (IPL) teams such as Rajasthan Royals, Lucknow Super Giants and Rising Pune Supergiant.
- Raghuram Iyer was unanimously selected for the post by IOA Nomination Committee
Points to note:
i.Prior to this appointment, the functions of the CEO at IOA were managed by Kalyan Chaubey, the joint secretary of the IOA and the President of the All India Football Federation (AIFF).
ii.Raghuram Iyer has also worked with Indian Super League (ISL) club ATK Mohun Bagan in football and Ultimate Table Tennis (UTT) franchise RPSG Mavericks.
Background:
i.The new constitution of the IOA was approved and ratified by General Assembly of IOA in November 2022.
ii.As per the new constitution, the IOA was to appoint a CEO to perform the functions of the erstwhile Secretary General of IOA.
iii.According to Article 15.3 of the amended IOA constitution, the CEO must be proposed by a nomination committee consisting of the IOA president, chairman of the Athletes’ Commission, and one IOC member from India.
iv.The CEO of IOA will be an ex-officio member of the Executive Council without voting rights. The CEO is not an elected member but a salaried official of IOA.
Eligibility: A candidate with at least 10 years of CEO experience in a company/entity with an annual turnover of Rs 25 crore or more is eligible to be appointed as CEO of IOA.
About Indian Olympic Association (IOA):
President– Pilavullakandi Thekkeparambil Usha(P.T. Usha)
Headquarters– New Delhi, Delhi
Establishment– 1927
ISRO successfully Tests Fuel Cell based Power System in Space
Indian Space Research Organisation (ISRO) has tested a 100-watt(W) class Polymer Electrolyte Membrane Fuel Cell based Power System (FCPS) to assess its operation in space and to collect data to facilitate the design of systems for future missions.
VSSC Tested Si–Graphite Anode-Based Lithium-Ion Cells
ISRO’s Vikram Sarabhai Space Centre (VSSC) has tested 10 Ampere Hour (Ah) Silicon(Si)–Graphite anode based High Energy Density Lithium(Li)-ion cells through the POEM3 experiment to assess the anode’s capability to survive and perform in the space environment.
About Indian Space Research Organisation(ISRO):
Chairman – Sreedhara Panicker Somanath
Headquarters – Bengaluru, Karnataka
Established in – 1969
Australian Cricketer David Warner Retires from ODI & Test CricketAustralian batsman David Warner announced his retirement from one-day international (ODI) cricket and test cricket during his last test match against Pakistan, held from 3-6 January 2024 in Sydney, Australia.
About David Warner’s cricket Career:
i.David Warner made his test debut in 2011 against New Zealand in Brisbane, Australia.
- He made his ODI debut in 2009 against South Africa.
ii.David Warner represented Australia in 112 tests and 161 ODI matches, scoring 8786 runs and 6932 runs, respectively.
iii.David Warner was awarded Australian Cricket Awards(formerly Allan Border Medal) three times in 2020,2017 & 2016 by Cricket Australia(The national governing body for cricket in Australia) for his outstanding performance.
iv.He was part of the cup-winning Australian team in the following tournaments, including
- ODI World Cup (2015) hosted by New Zealand and Australia
- Twenty20 (T20) World Cup (2021) held in the United Arab Emirates (UAE) and Oman
- World Test Championship (2021–2023) held in London, United Kingdom(UK)
- ODI World Cup (2023) held in India
v.He played in the Indian Premier League (IPL) for the Delhi Capitals (2009-2013 & 2022-Present) and Sunrisers Hyderabad (2014–2021).
vi.David Warner holds the record for Australia’s second-highest run scorer across all three formats(ODI,T20I and Test) with 18,612 runs, behind Ricky Ponting (27,483 runs).
Germany wins United Cup 2024 title by Defeating Poland in FinalsThe German tennis team won the United Cup 2024 title by defeating Poland 2-1 in the finals held at the Ken Rosewall Arena in Sydney, Australia.
- The second edition of the United Cup was held from 29th December 2023 – 7th January 2024 in Perth and Sydney, Australia.
Key Points:
i.Each tie (round) in the United Cup 2024 features three matches (men’s singles, women’s singles, and mixed doubles).
ii.Germany’sAlexander Zverev (6th in the ATP ranking) defeated Poland’s Hubert Hurkacz (9th ranked) in the men’s singles finals.
iii.In the women’s singles finals, Poland’s Iga Swiatek(1st in WTA ranking) defeated Angelique Kerber (Germany).
iv.In the mixed doubles event, Alexander Zverev and Laura Siegemund (Germany) defeated Hubert Hurkacz and Iga Swiatek (Poland) in the finals.
Prize Money:
i.Winners of men’s singles and women’s singles in the final receive USD 251,000 prize money, while mixed doubles winners get USD 47,255.
ii.The final winning team received USD 23,155 in prize money.
Results of final Match:
- Each team is represented by three men and women players to compete in the events..
ii.The 2024 United Cup was jointly organised by the Association of Tennis Professionals (ATP) and the Women’s Tennis Association (WTA) in partnership with Tennis Australia.
iii.Court: It is played on an outdoor hard-court surface.
Mario Zagallo, Brazil’s World Cup Winning Football Player & Coach Passed AwayFormer Brazilian Football player, coach and Manager Mário Jorge Lobo Zagallo,who won 4 World Cup titles, passed away at the age of 92 in Rio de Janeiro, Brazil. Mario Zagallo, nicknamed ‘Old Wolf’ & “The Professor”, was born on August 9, 1931, in Maceio, Brazil.
Mario Zagallo’s World Cup records:
i.He was a part of the Brazillian Football team that won Four Federation Internationale de Football Association(FIFA) World Cup titles.
- He won two World Cups (1958 – Sweden and 1962 – Chile) as a player, one as a Head coach/Manager (1970 – Mexico) and one as an assistant coach (1994 – the United States of America/USA) for Brazil.
ii.He was the first person to win the World Cup as both a player and a Manager.
iii.In 1970, Zagallo (38 years) became the 2nd youngest coach to win a World Cup. Alberto Suppici(31 years) won the world cup in 1930 with Uruguay.
Career Overview:
i.Mario Zagallo started his career with Rio de Janeiro’s America Football Club in 1948 and retired in 1966.
ii.He has served as the Manager of the Brazil football team from 1967 to 1974, 1994-1998 and in 2002.
iii.He served as the Manager of all four traditional Rio clubs — CR Flamengo, Fluminense Fc, CR Vasco Da Gama, Botafogo FR and the national teams of Kuwait, Saudi Arabia and the United Arab Emirates (UAE).
Awards:
In 1992 Zagallo received the FIFA Order of Merit, the highest honor awarded by FIFA, for his contributions to football.
Baayu: Assam launched India’s 1st first 100% Electric Bike Taxi ServiceAssam State Transport Corporation (ASTC) has launched an initiative called ‘Baayu’ a Clean Air Movement to improve air quality in Assam’s cities.
- It is India’s First 100% electric and decentralized open mobility electric bike (e-bike) taxi service.
- The e-bike taxi service was launched by Parimal Suklabaidya, Minister of Transport of Assam Government, in Guwahati, Assam.
Baayu Clean Air Movement:
i.Baayu Clean Air Movement is a sustainable mobility initiative launched by ASTC in collaboration with Guwahati based Bikozee Ecotech Private Limited led by the Department of Transport, Government of Assam.
ii.The movement is supported by the National Institution for Transforming India (NITI) Aayog’s Shoonya Zero Pollution Mobility campaign.
iii.By deploying electric vehicles (EVs) in the transport and logistics sectors, the movement aims to improve the air quality in Assam.
iv.It also implements the Beckn protocol to develop digital public infrastructures to be deployed on the Open Network for Digital Commerce (ONDC).
v.The movement strongly emphasises sustainability, innovation, and inclusivity.
vi.The movement helps in reducing about 29,000 tons of carbon emissions by saving the fuel which may cost of Rs 73 crore.
Services Provided by Baayu:
i.Baayu ASTC has launched a mobile application called ‘Baayu Rider’.
ii.Baayu offers e-bike taxi services, Business to Business (B2B) fleet services and Hyperlocal delivery services.
iii.Baayu operates on three ‘Zero’ model.
- Zero emission
- Zero commission
- Zero cancellation
Shoonya Zero Pollution Mobility Campaign:
i.The Shoonya Zero Pollution Mobility Campaign aims to promote zero-pollution delivery vehicles by collaborating with consumers and industry.
ii.The campaign was launched by NITI Aayog in September 2021.