Vibrant Gujarat Global Summit 2024: 41,299 MoUs Worth Rs, 26.33 Lakh Crore SignedThe Gujarat government signed 41,299 Memorandum of Understanding (MoUs) for investment intentions on the 10th edition of Vibrant Gujarat Global Summit (VGGS) 2024, with a value of Rs. 26.33 lakh crore, at Mahatma Mandir, Gandhinagar, Gujarat from January 10th to 12th, 2024.

• The theme of this year’s summit is ‘Gateway to the Future’
• 35 partner countries and 14 partner organizations participated in the summit
• The Summit is also being used as a platform by the Ministry of Development of the North-Eastern Region to showcase investment opportunities in the North-Eastern regions.

Key Highlights of the event
Most of the investment proposals are in urban development, minerals, chemicals, petrochemicals, animal husbandry and fishing, power, oil & gas, agro and food processing, textile, and apparel.
i.More than 61000 delegates from over 140 countries participated in the summit.

• Presidents of three countries- Filipe Nyusi (Mozambique), Jose Ramos-Horta (Timor-Leste), and Petr Pavel (Czech Republic) participated in the summit.
• United Arab Emirates (UAE)’s President Sheikh Mohamed bin Zayed Al Nahyan was the Chief guest of the VGGS 2024.

About Gujarat
Chief Minister – Bhupendrabhai Patel
Governor – Acharya Devvrat
Capital – Gandhinagar

India Becomes 1st Vice Chair of FAO COFI Sub-Committee on Fisheries ManagementIndia has been elected as the 1st Vice-Chair of Sub-Committee on Fisheries Management(SCFM) of the Food and Agriculture Organization of the United Nations(FAO) Committee on Fisheries (COFI).
Election:
i.Elections to the Bureau of the SCFM was held during the 1st session of the Sub-Committee held from 15th to 18th January 2024 at FAO headquarters in Rome, Italy.
ii.The bureau includes Chairman of the Sub-Committee, the First Vice-Chairman and 5 other Vice-Chairmen, all elected for a 2-year term.
Indian delegation:
i.The Indian delegation was led by J. Balaji, former Joint Secretary, Ministry of Fisheries, Animal Husbandry and Dairying.
ii.Dr. Balaji was elected as the first vice chairperson of the incoming bureau of the SCFM.
Key Points:
i.As the representative of the Global South, India’s participation ensures a balanced and comprehensive perspective in global discussions on fisheries governance and management. It  particularly focuses on artisanal and small-scale fisheries.
ii.India will serve as a member of the FAO Fisheries Bureau on Capture Fisheries for the first time in 57 years.
About Sub-Committee on Fisheries Management:
i.The SCFM was established during the 35th session of the FAO COFI in Rome, Italy, from September 5 to 9, 2022.
ii.COFI is a subsidiary body of the FAO Council. The FAO Conference established COFI in 1965 at its 13th Session.
Membership: Sub-Committee is open to all Member Nations of the FAO. Non member states which are members of the United Nations(UN) or UN specialised agencies may seek admission to the sub-committee.
Functions:
i.The SCFM provides a forum for national, regional, and international discussion on fishery management issues. It deals with technical and policy matters aligned with FAO’s mission.
ii.The primary functions of the sub-committee include providing essential technical and policy guidance on fisheries governance and management, to advance the FAO Code of Conduct for Responsible Fisheries.
iii.It collaborates closely with the Sub-Committee on Aquaculture and the Sub-Committee on Fish Trade, enhancing its engagement in fisheries-related matters.
Note:
i.India is the third largest fish producing country in the world accounting for 8% of global production. It is recognised as one of the top fishing nations with over 28 million inland and marine fisheries.
ii.China is the world’s largest fish producer followed by Indonesia.
About Food and Agriculture Organization (FAO):
Director-General– Dr. Qu Dongyu
Headquarters– Rome, Italy
Established in– 1945

Gujarat’s Kachchhi Kharek Fruit Gets Geographical Indication TagKachchhi Kharek or Kutchi dates, the indigenous dates variety of Kutch in Gujarat got a geographical indication (GI) tag from the Chennai (Tamil Nadu) based Geographical Indication Registry under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

• Kachchhi Kharek is registered under the goods type of ‘Agriculture’.

About Kachchhi Kharek:
i.“Kachchhi Kharek” is the product of date palm harvested at Khalal (fresh stage), when the fruits are in their active colour (red, yellow, or its variants).
ii.The fruits are rich in nutrients (particularly carbohydrates, fat, calcium, phosphorus, and iron) and high calorific value.
iii.According to the Gujarat government, date palm cultivation is under taken in Kutch with the area of 19,251 ha (hectares), which is 94 per cent of the Gujarat’s total date palm cultivation area of 20,446 ha.
Key Points:
i.Kachchhi Kharek has become the second fruit of Gujarat to get a GI tag after Gir Kesar Mango (2011) under the goods of Agriculture.
ii.The GI tagged Kachchhi Kharek will boost the branding of Kutchi dates and benefit thousands of farmers who grow dates in arid and semi-arid Kutch region.
About GI Tags:
i.GI is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.

ICAI collaborates with IIM Ahmedabad to develop ‘Vision 2049’
The Strategy Perspective Planning and Monitoring Committee of the Institute of Chartered Accountants of India (ICAI) in partnership with the Indian Institute of Management (IIM) Ahmedabad (Gujarat) has initiated a task of formulating ICAI Vision 2049.
About ICAI Vision 2049:
i.It aims to make ICAI a  globally recognized leader in the field of accountancy.
ii.Chartered Accountants(CAs) will be acting as a catalyst for economic progress.
iii.ICAI will celebrate its 100th anniversary of existence in 2049.

GoI Plans to Make Educational Study Materials in 22 Languages by Utilizing ‘Anuvadini’ App The Government of India (GoI) aims to make study materials available for all courses under school and higher education digitally in all 22 languages listed in the 8th Schedule of the Indian Constitution through Artificial Intelligence (AI)-based ‘Anuvadini’ mobile application.
Key Points:
i.For this purpose, the Ministry of Education (MoE) has instructed the educational regulators and the heads of institutions of national importance to prepare such study materials within the next three years (by 2027). 
ii.The issue concerning state schools and universities will be handled by the University Grants Commission (UGC), All India Council of Technical Education (AICTE), and the Department of School Education & Literacy under the Ministry of Education (MoE).
iii.The initiative is in line with National Education Policy(NEP)-2020 for promoting multilingualism in education at every level.
About Anuvadini:
i.Anuvadini is a Voice & Document AI Translation Tool.
ii.It supports 22 regional Indian & foreign languages thereby reducing the language barriers.
iii.Anuvadini app has been in use for the last two years, to translate the books of engineering, medical, law, undergraduate, postgraduate, and skill courses.
iv.These books are available on the electronic – Knowledge Unleashed in Multiple Bharatiya Languages (e-Kumbh) portal.
v.The portal also translated school books(30 languages) and competitive exam materials(13 languages).

MoPNG Hardeep Singh Puri launches First Pilot Project to Make Jet Fuel from Alcohol
Union Minister of Petroleum and Natural Gas (MoPNG), Hardeep Singh Puri, has inaugurated the first pilot state-of-the-art technology project to make jet fuel from Alcohol in Praj Industries Limited Research and Development (R&D) unit in Pune, Maharashtra.

• This project will produce sustainable biological aviation fuel (SAF).
• The project was launched in the presence of Pramod Chaudhary, President of Praj Industries Limited.

Highlights of India’s External Affairs Minister, Dr. S. Jaishankar visit to Irani.On January 14-15, 2024, Union Minister Subrahmanyam (S.) Jaishankar, Ministry of External Affairs (MEA) was on an official visit to Iran to hold discussions on bilateral, regional and global issues with Dr. Hossein Amir-Abdollahian, Foreign Minister of Iran in Tehran.
ii.This visit showcases India’s address to regional security concerns amid the ongoing Hamas–Israel conflict; ISIS (Islamic State of Iraq and Syria), a terrorist Organization, claimed terrorist attacks in Iran; and Houthi maritime threats on commercial shipping in the Red Sea, Gulf of Aden, and Arabian Sea.
iii.The Indian MEA Minister met Minister of Roads and Urban Development of Iran, Mehrdad Bazrpash and held a detailed and productive discussion on establishing a long-term cooperation framework on the strategically vital Chabahar Port. There both nations have reached a final agreement on India’s first foreign port project, Chabahar Port.
iv.India also announced its decision to include Persian (Farsi) under the New Education Policy (NEP), 2020 of India. With this, it will become 9th Indian Classical Language.
About Iran:
President– Ebrahim Raisi
Capital– Tehran
Currency– Iranian Rial

Yes Bank becomes First Indian Bank to Conduct Export Finance Transaction on RXIL’s ITFS PlatformYes Bank Limited, has became the first Indian bank to execute an export finance transaction on the International Trade Financing Services Platform (ITFS) of RXIL Global IFSC Limited (RXIL Global), a subsidiary of Receivables Exchange of India Limited (RXIL).
Key Points:
i.The collaboration empowers both Indian and global exporters and importers to access competitive financing options like factoring, forfeiting, and other trade finance services through the platform.
ii.The collaboration is in line with the Government of India’s aim to make India a global trade finance powerhouse.
About ITFS platform:
i.ITFS functions as a financial platform for the full range of international financial services at the regional and global levels.
ii.The platform was set up in the International Financial Services Centre (IFSC), Gujarat International Finance Tech(GIFT)-City in Gujarat.
Yes Bank in Collaboration with Veefin launched SmartFin for MSME
Yes Bank Limited has launched SmartFin, an end-to-end digital supply chain finance (SCF) platform powered by Mumbai (Maharashtra)- based Veefin Solutions Limited (Veefin) to cater to the financial needs of Micro, Small, and Medium Enterprises (MSMEs).

• SmartFin also facilitates digital SCF loans for dealers and suppliers of corporate clients.

About Yes Bank Limited:
Managing Director(MD) and Chief Executive Officer(CEO) – Prashant Kumar
Headquarters – Mumbai, Maharashtra
Established in – 2004
Tagline – Experience Our Expertise

SEBI Chairperson Launched Two Unique Multi-Lingual Initiatives for CDSLThe Chairperson of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch, has launched two unique multi-lingual initiatives namely Multi-Lingual CAS and CDSL Buddy Sahayta 24×7 Chatbot for Central Depository Services (India) Limited (CDSL). These initiative aims to promote ease of doing business among investors.

• The initiatives were launched in the 25th anniversary (Silver Jubilee year) event of CDSL which was held in Mumbai, Maharashtra.

Multi-Lingual CAS:
i.The investors can generate their Consolidated Account Statement (CAS) of the securities held in CDSL in any of the 23 Indian languages.
ii.The initiative is named Apka CAS – Apki Zubaani.
CDSL Buddy Sahayta 24×7 Chatbot:
i.The chatbot offers round-the-clock assistance to the investor in four languages.
ii.The chatbot aims to simplify investors’ journeys toward ‘Atmanirbharta’ or self-sufficiency.
Neev campaign:
i.25th-anniversary celebrations witnessed the conclusion of CDSL’s ‘Neev’ campaign.
ii.The campaign aims to spread financial literacy among diverse communities, including armed forces and rural areas across 25 cities of India.
Thought Leadership Report:
i.Thought Leadership Report on ‘Reimagine Digital Trust in Capital Markets’: The report was unveiled at the event.
ii.The report was prepared by CDSL in collaboration with knowledge partners KPMG.
iii.The report speaks about CDSL’s digital trust, global financial interconnectedness, and resilience against emerging cyber threats.
About Central Depository Services (India) Limited (CDSL):
Central Depository Services (India) Limited (CDSL) is Asia’s first listed depository and India’s only listed depository.
Managing Director(MD) & Chief Executive Officer(CEO) –  Nehal Vora
Headquarters – Mumbai, Maharashtra
Established in – 1999

LIC launches a New Annuity Plan ‘Jeevan Dhara-2 plan 872’Life Insurance Corporation of India (LIC) has launched a new individual, savings, deferred annuity (pension) plan ‘Jeevan Dhara-2 plan 872’. 

• The plan will be available for sale from 22nd January 2024.

About Jeevan Dhara II:
i.The plan offers 11 annuity options to policyholders and the annuity is guaranteed from the start of the plan.
ii.The policyholder gets two options namely ‘Regular Premium’ and ‘Single Premium’ to pay their premium.
iii.Eligibility: The minimum age at entry is 20 years (last birthday) and Maximum 80, 70, 65 years minus the deferment period.
iv.Deferment period: The available deferment period is from 5 years to 15 years in the case of regular premium and from 1 year to 15 years for single premium.
v.The plan offers annuity in two options namely ‘Single Life Annuity’ and ‘Joint Life Annuity’. The plan offers higher annuity rates at higher ages.
vi.The annuity can also be increased by paying an additional premium.
vii.The plan can also be revived within 5 consecutive years from the date of the First Unpaid Premium.
About Life Insurance Corporation (LIC) of India:
Interim Chairman – Siddhartha Mohanty
Headquarters – Mumbai, Maharashtra
Established in – 1956

ICRA Projects GDP Growth to Moderate to Below 6% in Q3 FY 2023-24ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited), predicts that India’s Gross Domestic Product (GDP) growth may have slowed to under 6% in the third quarter (Q3) of FY 2024 (October to December 2023) from 7.6% in the second quarter (Q2) of FY 2024.

• This downturn is primarily attributed to a significant decline in the output of kharif crops and weak progress in rabi sowing for some crops.

Factors Impacting GDP Growth:
Capital Expenditure Downturn: ICRA notes an -8.8% year-on-year (YoY) decline in the government’s capital expenditure (capex) in October-November 2023 (in Q3).
Agricultural GVA Projections: Anticipation of little-to-no growth in agricultural Gross Value Added (GVA) due to the sharp decline in Kharif crop output and weak progress in rabi sowing.
Economic Indicators Overview:
i.Average daily vehicle registrations from January 1-16, 2024 were 39.2% higher that the year ago period..
ii.However, they were 1.8% lower than the registrations of 6,46,000 units/day in December 2023, attributed to the inauspicious Kharmas period and seasonality.
iii.Y-o-Y growth in electricity demand increased modestly to 3.4% in January 2024 (up to January 15) from 1.6% in December 2023, remaining subdued due to an elevated base.
ICRA Business Activity Monitor Analysis:
Growth Decline: Y-o-Y growth in ICRA Business Activity Monitor reached a 6-month low of 8.1% in December 2023, down from 7.9% in December 2022 and 9.6% in November 2023.
Factors Contributing to Decline: Reduction in activity momentum post-festive period; decreased demand for electricity and petrol due to winter onset in North India; and unfavourable base effects for some indicators.
Sequential Increase in Business Activity:
i.Despite the moderation in Y-o-Y growth, the Business Activity Monitor experienced a sequential increase of 1.4% in December 2023, driven by 8 of the 14 non-financial indicators.
ii.ICRA noted healthy economic activity in Q3 of the ongoing fiscal year, but acknowledges softness compared to the previous quarter, partly due to base normalization.

President Droupadi Murmu to Confer Pradhan Mantri Rashtriya Bal Puraskar 2024 to 19 ChildrenThe Ministry of Women and Child Development (MoWCD) announced the recipients of the Pradhan Mantri Rashtriya Bal Puraskar (PMRBP) for the year 2024.  The 2024 awardees include 9 boys and 10 girls, from 18 States and Union Territories (UTs) including 2 Aspirational Districts.

• President Droupadi Murmu will conffer the awards during the award ceremony, which will be held in Vigyan Bhawan in New Delhi, Delhi on 22nd January 2024.

About Pradhan Mantri Rashtriya Bal Puraskar (PMRBP):
i.PMRBP earlier known as the National Child Award is India’s highest honour for children, awarded annually by the MoWCD.
ii.The award is annually presented to children aged 5-18 from India for their exceptional abilities and outstanding achievements in 7 fields – Bravery; Sports; Social Service; Science & Technology; Environment; Arts & Culture;  and Innovation.
iii.Prize Value: PMRBP includes a Medal, a Certificate, a Citation, and a cash prize of Rs 1 Lakh.
Awardees of PMRBP 2024:

IPS officer Daljit Singh Chaudhary Appointed as DG of Sashastra Seema BalThe Appointments Committee of the Cabinet (ACC) has approved the appointment of  Indian Police Service (IPS) officer Daljit Singh Chaudhary as the Director General (DG) of Sashastra Seema Bal (SSB) with effect from the date of joining till 30th November 2025(the date of his superannuation).

• He succeeds Rashmi Shukla, who served as the the DG of SSB from March 2023 to January 2024.
• Prior to this appointment, Daljit Singh Chaudhary was serving as Special DG of the Central Reserve Police Force (CRPF).

Note: On 4th January 2024, Rashmi Shukla was appointed as the Director General of Police(DGP) of Maharashtra. She beacame the first woman officer to hold the post.
About Daljit Singh Chaudhary:
i.Daljit Singh Chaudhary is a 1990 batch IPS of Uttar Pradesh(UP) Cadre.
ii.Previously, he has also served as the Inspector-General (IG) and Additional Director General (ADG) in Indo Tibetan Border Police (ITBP).
iii.In 2021, He was appointed as the ADG of CRPF and was promoted as Special DG of CRPF in 2023.
About Sashastra Seema Bal (SSB):
SSB is one of India’s Central Armed Police Forces (CAPFs) established as a Special Service Bureau in May 1963 in the aftermath of the Chinese aggression in 1962.
It was brought under the Ministry of Home Affairs(MoHA) in 2001 and was declared a Lead Intelligence Agency to primarily guard India’s frontiers with Nepal and Bhutan.
Headquarters– New Delhi, Delhi

GoI Raises Rs.2500 By Disinvesting 3.5% Stake in NHPC Limited
The Government of India (GoI) has raised about Rs.2500 crores through Offer for Sale (OFS) by disinvesting about 3.5% of paid-up share capital in NHPC Limited (erstwhile National Hydroelectric Power Corporation), which is a Mini Ratna Category-I Central Public Sector Enterprises (CPSE) under Ministry of Power(MoP).

• OFS includes a base size of 2.5%( 251,125,870 shares) and a green shoe option of 1%(100,450,348 shares).
• The Union Budget for financial year 2023-24 (FY24) had set a disinvestment target of Rs 51,000 crore.

Disinvestment – The process of dilution of a GOI’s stake in a PSU (Public Sector Undertaking).

JAXA Successfully landed SLIM on Lunar Surface; Japan Becomes 5th Nation to land on Moon On 20th January 2024, Japan Aerospace Exploration Agency (JAXA), the Japanese national air and space agency, successfully landed Smart Lander for Investigating Moon (SLIM) within 330 feet (100 meters) of its target site on the rim of Shioli Crater.

• With this Japan became the 5th nation to soft land on lunar surface after the United States of America (USA), Russia, China, and India.

Note: Shioli, a small lunar impact crater that is located within the much larger Cyrillus crater, is located on the near side of the Moon, in the equatorial region.
Details of SLIM:
Launch:
i.The SLIM probe nicknamed “Moon Sniper” was launched onboard the H-IIA Launch Vehicle No. 47 (H-IIA F47) on 7th September 2023 from JAXA Tanegashima Space Center, Kagoshima, Japan.
ii.SLIM was launched along with X-Ray Imaging and Spectroscopy Mission (XRISM).
About SLIM:
The SLIM lander aims to achieve a small scale and light weight probe system.
Mission objective:
i.Demonstration of the accurate ‘pin-point’ lunar landing techniques embodied in a small explorer.
ii.Acceleration of the study of the moon and other planets using the lighter exploration system.
Solar Panel Setback:
i.Post-landing, SLIM’s solar panels failed to generate power and appear to be operating only on batteries, which limits its operational timeframe to a few hours.
ii.Operating on battery due to non-functional solar panels, SLIM conserves energy by shutting off heaters.
Features of SLIM:
i.It is a low-cost lander that weighs only 700 kilograms. It weighed more than 1,500 pounds at launch.
ii.It was assembled by Mitsubishi Electric, which also supplied SLIM’s computer, landing radar, and transponder.
iii.SLIM successfully deployed 2 small unconventional rovers from the lander just before landing. They are Lunar Excursion Vehicle-1 (LEV-1) and Lunar Excursion Vehicle-2 (LEV-2).

• LEV-1 uses a hopping mechanism and carries a thermometer, radiation monitor, and an instrument for measuring the slope and elevation.
• LEV-2 is a spherical, baseball-sized rover, which splits into 2 halves for surface exploration until its battery exhausts.
• JAXA developed this rover in cooperation with Doshisha University and Tomy Company Ltd, a toy company in Japan.

Note: SLIM was launched on a Mitsubishi Heavy H2A rocket in September 2023. It initially orbited Earth and entered lunar orbit on 25 December 2023.
About Japan:
Capital– Tokyo
Prime Minister– Fumio Kishida
Currency– Japanese Yen (JPY)

Iran’s IRGC launches Sorayya Satellite by Qaem 100 Satellite CarrierIran’s Islamic Revolution Guard Corps (IRGC) has launched Sorayya satellite using a three-stage solid-fuel Qaem 100 satellite carrier, developed by IRGC Aerospace Force. Iran for the very first time launched a satellite to a height of about 750-kilometre (460 miles) above the earth’s surface.

• The satellite was launched from IRGC’s mobile launch pad on the outskirts of Shahroud, Iran.