75th Republic Day of India- January 26, 2024i.India celebrated its 75th Republic Day (R-Day) on 26th January 2024. The republic day events and parade were held at the newly-renovated and renamed Kartavya Path (previously known as Rajpath) in New Delhi, Delhi. The Republic day of India marks and celebrates the date on which the Constitution of India came into effect on January 26, 1950.
ii.President of India Droupadi Murmu unfurled India’s National Flag accompanied by Major Saumya Shukla ASC , it was followed by the National Anthem and a 21-gun salute from indigenous 105-mm Indian Field Guns.
iii.Theme of R-Day 2024: ‘Viksit Bharat’ (Developed India) and ‘Bharat- Loktantra ki Matruka‘ (Bharat – The Mother of Democracy)
iv.To mark the 75th Republic Day celebration, Union Minister Rajnath Singh, Ministry of Defence Rs 75 commemorative silver coin, and a postage stamp of 75th Republic Day Celebrations. It is minted by Indian Government Mint, Mumbai in Maharashtra.
vi.President of France Emmanuel Macron was the chief guest for Republic Day 2024.
Note:
i.India became a free and independent nation on 15th August 1947.
ii.The nation declared itself a Sovereign, Democratic and Republic state with the adoption of the Constitution on January 26, 1950.
iii.The Constitution of India replaced the Government of India Act 1935 as the governing document of India, thus turning the nation into a republic separate from British Raj.

WB introduces USD 100mn Plastic Waste Reduction-Linked Bond to Tackle Plastic PollutionOn January 24, 2024, the World Bank (WB) has introduced USD 100 million, a 7-year Plastic Waste Reduction-Linked Bond which will be issued by the International Bank for Reconstruction and Development (IBRD).

• The bond is 100% principal protected, and the proceeds will support WB’s sustainable development activities in IBRD member countries.
• The bond’s focus is on preventing plastic waste leakage into nature and oceans.
• Citi served as the Lead Manager for this bond.

About Bond:
i.This bond has a unique feature of linking investors’ return to the issuance and monetization of Plastic Waste Recycling Credits, Plastic Waste Collection Credits (collectively known as Plastic Credits), and Verified Carbon Units (“VCUs”) from two plastic waste collection and recycling projects in Ghana and Indonesia.
ii.The Bond will be listed on the Luxembourg Stock Exchange in Luxembourg, and is expected to be rated AAAp by Standard & Poor’s.
iii.The bond was issued at par providing investors with a minimum guaranteed return of approx. 1.75%.
iv.IBRD has entered into a Forward Flow Agreement (FFA) with Citi to hedge any plastic credit or VCU exposure.
About World Bank (WB):
President (WB Group)– Ajay Banga
Establishment– 1944
Headquarters– Washington D.C, United States of America (USA)
Members– 189 member states

REC & NIIFL signed a MoU on funding solutions for renewable energy projects and large infra projectsOn January 26, 2024, REC Limited (formerly Rural Electrification Corporation Limited) has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL) to boost renewable energy and infrastructure financing in India.
Note: REC Limited is a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP).
Signatories: Daljeet Singh Khatri, Executive Director (Finance), REC; and Prasad Gadkari, Executive Director & Chief Strategy Officer, NIIFL in the presence of Vivek Kumar Dewangan, Chairman and Managing Director (CMD); and Rajiv Dhar, Chief Executive Officer (CEO) and Managing Director (MD), NIIFL.
About the MoU:
i.Under this MoU, REC and NIIFL will work together on funding solutions for renewable energy and large-scale infrastructure projects in India.
ii.The MoU is in line with the NIIF’s broader strategy to enhance financing and attract private capital into the infrastructure sector.
About REC Limited (formerly Rural Electrification Corporation Limited):
It is registered with the Reserve Bank of India (RBI) as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).
CMD– Vivek Kumar Dewangan
Headquarter– New Delhi, Delhi
Establishment– 1969

BOB Financial Solutions rebranded as “BOBCARD Limited”
BOB Financial Solutions Limited, the wholly-owned card company of Bank of Baroda (BoB), has been rebranded as ‘BOBCARD Limited’, with the tagline “Credit Reimagined”.

• It is a non-banking Financial Company(NBFC) established in 1994.
• The new logo called ‘Baroda Sun’ was also unveiled for the ‘BOBCARD Limited’.The logo comprises dual ‘B’ letterforms that hold the rays of the rising sun.
• BOBCARD offers an array of consumer and commercial credit cards and caters to all segments of customers including Defence Personnel like Indian Army, the Indian Navy, the Indian Coast Guard, and Assam Rifles.
• As per the Reserve Bank of India(RBI), BOBCARD Limited had 22.4 lakh outstanding credit cards in force as of December 2023.

Padma Awards 2024: President approves 132 Padma Awards; List Includes 5 Padma Vibhushan, 17 Padma Bhushan, 110 Padma Shri Awards, With 9 Posthumous AwardeesOn 25th January, 2024, Ministry of Home Affairs (MHA) has announced the Padma Awards for 2024. Emmanuel Macron, President of France was the chief guest on 75th Republic Day of India.
Padma Awards 2024:
i.Droupadi Murmu, the President of India has approved the conferment of 132 Padma Awards for 2024.
ii.The official list released comprises 5 Padma Vibhushan, 17 Padma Bhushan, and 110 Padma Shri awards, which include 2 duo cases (in a duo case, the award is counted as one).
iii.The list also comprises 8 persons from the category of Foreigners/ NRI/ PIO/OCI and 9 Posthumous awardees.
iv.A total of six foreigners were included in the list of winners of the Padma Awards for the year 2024..
v.Among 6 foreign nationals, 4 people are from France, one from Taiwan and Papua New Guinea each.
About Ministry of Home Affairs(MHA):
Union Minister: Amit Shah(Lok Sabha Constituency: Gandhinagar, Gujarat)
Minister of State (MoS): Nityanand Rai (Lok Sabha Constituency: Ujiarpur, Bihar), Nisith Pramanik (Lok Sabha Constituency: Coochbehar, West Bengal), Ajay Kumar Mishra (Lok Sabha Constituency: Kheri, Uttar Pradesh)

ICC Awards 2023: India’s Virat Kohli & Suryakumar Yadav become the Men’s ODI & T20I cricketers of the year, RespectivelyThe International Cricket Council (ICC) announced the winners of the ICC Awards 2023, India’s Virat Kohli has won the ICC Men’s One Day International (ODI) Cricketer of the Year 2023, and Suryakumar Yadav has won the ICC Men’s Twenty20 International (T20I) Cricketer of the Year 2023.

• Virat Kohli has been recognized for his splendid performance in 2023 including ICC Men’s Cricket World Cup (CWC).
• He was awarded the Player of the Tournament at the ICC Men’s Cricket World Cup 2023 held in India. He was the highest run scorer (765 runs) in the tournament, which is the most runs scored ever in a single edition of an ODI World Cup.
• Suryakumar Yadav won the ICC Men’s T20I Cricketer of the Year award for the second consecutive year after he got it in 2022.
• In January 2023, Suryakumar scored a century from 45 balls in a T20I match against Sri Lanka.It made him the second-fastest century-scored batsman for India in men’s T20Is behind Rohit Sharma(Scored a century in 35 balls against Sri Lanka in 2017).

About International Cricket Council (ICC):
Chairman – Greg Barclay
Headquarters – Dubai, United Arab Emirates
Established in -1909

Former PM Tshering Tobgay Set to Become PM of Bhutan for 2nd TimeBhutan’s former Prime Minister (PM) Tshering Tobgay, President of People’s Democratic Party (PDP), is set to become PM of Bhutan for 2nd term. He served as PM for the 1st time from 2013 to 2018.

• Tshering Tobgay will succeed Lotay Tshering, who served as the PM of Bhutan from 2018 to 2023.

About the Election:
i.PDP won 30 of the 47 seats in the parliament during the General Election of the 4th National Assembly.
ii.Bhutan Tendrel Party (BTP) secured the remaining 17 seats and became the opposition party.
About Tshering Tobgay:
i.He was a civil servant before he actively joined politics and is a passionate conservation advocate.
ii.Initially, he served as a program officer for 2 years within the Department of Education before being promoted to the position of officer-in-charge.
iii.Later, he became the director of the Department of Human Resources in the Ministry of Labour and Employment.
iv.He was responsible for establishing PDP as the first registered political party in Bhutan and continues to serve as its president.
v.In 2007, he became a candidate for PDP in Thimphu and became the 1st first civil to resign from the government to join politics.
vi.He served as Bhutan’s first leader of the opposition party in the national assembly  from 2008 to 2013.
Electoral system of Bhutan:
i.In 2008, Bhutan converted from an absolute monarchy to a constitutional monarchy with a parliamentary government.
ii.The King of Bhutan is the head of the state whereas the PM is the head of the government.
iii.Since 2008, Bhutan has conducted 4 elections. The Parliament of Bhutan consists of the King of Bhutan, the National Council (upper house), and the National Assembly (lower house).
About Bhutan:
Capital– Thimphu
Head of State– Jigme Khesar Namgyel Wangchuck
PM– Tshering Tobgay
Currency– Bhutanese Ngultrum

Nitish Kumar Sworn in as Bihar CM for 9th time; Samrat Chaudhury, Vijay Kumar Sinha Took Oath as Deputy CMsJanata Dal (United) (JD-U) President Nitish Kumar took oath as the Chief Minister (CM) of Bihar for the 9th time after he joined hands with the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) and its partners to form a new government in Bihar.

• He was administered the oath of office by  Bihar Governor Rajendra Arlekar at Raj Bhavan, Patna (Bihar). Along with him, Samrat Chaudhury, and Vijay Kumar Sinha took oath as Deputy CMs.

Note: The sworn-in ceremony took place following his resignation as CM of the Rashtriya Janta Dal (RJD) JD-U government. He replaced his ministers from the RJD with those from the BJP.
Points to Note:
i.JD-U and RJD were 2 major allies of the Mahagathbandhan (Great Alliance), which was a part of the Indian National Developmental Inclusive Alliance (INDIA), largely led by the opposition Congress Party.
ii.In 2022, Nitish Kumar joined forces with the Mahagathbandhan alliance, leaving the BJP-led NDA.
About Nitish Kumar:
i.From March 3, 2000, to March 10, 2000, Nitish Kumar assumed the role of CM for the 1st time.

• His other terms as CM: 2005-2010; 2010-2014; February 22, 2015 – November 19, 2015; 2015 – 2017; 2017-2020; 2020-2022; 2022-2024.

ii.He served as Member of Parliament(MP) – Lok Sabha from 1989 to 2004. He also served as Union Minister Agriculture, Railways, and Surface Transport.

LIC Gets RBI Nod to Raise Up to 9.99% Stake in HDFC Bank
Life Insurance Corporation of India (LIC) has got the Reserve Bank of India (RBI)’s approval to raise its stake up to 9.99% in the Housing Development Finance Corporation (HDFC) Bank.

• As of January 2024, LIC holds a 5.19% share of HDFC Bank.
• The RBI has also advised LIC to acquire the additional HDFC Bank shares within a year.
• Under RBI regulations, any acquisition of 5% or more of a private sector bank’s paid-up share capital or voting rights will require prior RBI approval.

Shailesh Kumar Singh, MoRD Secretary launched SARATHI App for DAY-NRLMShailesh Kumar Singh, Secretary of Ministry of Rural Development (MoRD), has launched the “SARATHI” mobile application(app) for Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) at Krishi Bhawan, New Delhi, Delhi.

• The app is designed to bridge the gap between government schemes and their beneficiaries.

About SARATHI:
i.The app was developed in collaboration with Bengaluru (Karnataka) based The/Nudge Institute.
ii.It is embedded in the LokOS system.
Key Points:
i.The app will function as the national tech solution for the strategy for working with the most vulnerable.
ii.Poverty Assessment Tool (PAT) surveys can also be conducted through the app which increases the effectiveness of the work.
iii.The app can be monitored in real-time thereby reducing the risk of errors and easing administrative burdens.
Note:
i.SARATHI will initially be deployed in six states to support 24,000 of the most vulnerable households.
ii.The app aligns with the MoRD’s priorities of saturation and inclusion.
Additional Info:
The DAY-NRLM is a flagship program of the MoRD aimed at enhancing the livelihood opportunities of the rural poor.

ISRO Successfully Deploys Magnetometer Boom on Aditya-L1 in Halo Orbit
The Indian Space Research Organisation (ISRO) successfully deployed the 6-metre long magnetometer boom on the Aditya-L1 satellite in Halo orbit at the Lagrange point L-1 on 11th January 2024.

• The boom had been in stowed condition(Kept for future use) for 132 days since India’s maiden solar mission Aditya-L 1 launched on September 2, 2023.
• The carbon fiber-reinforced polymer-made boom serves as a connector between the magnetometer and the spacecraft, and it is used to remove the magnetometer from the immediate vicinity of the spacecraft to minimize magnetic effects from the spacecraft.
• It carries two high-accuracy fluxgate magnetometer sensors that measure the low-intensity interplanetary magnetic field in space.
• A thermal cutter-based release system is employed to execute the boom deployment in 9 seconds(approximately).

Rana Talwar, 1st Indian & Asian to Head Standard Chartered Bank Passed AwayVeteran banker Gurvirendra Singh Talwar (Rana Talwar), the 1st Indian and Asian to lead a global bank, Standard Chartered Bank (SCB) Plc, passed away at the age of 76. He was born in 1948.
About Rana Talwar:
i.He began his career with Citibank India in 1969 and started heading the retail businesses of Citibank across Asia-Pacific, the Middle East, and then Europe and North America.
ii.He was a member of the Citibank/ Citigroup Policy and Operating Committees.
iii.In 1997, he joined SCB Plc and later assumed the role of Global Chief Executive Officer (CEO), becoming the 1st Asian to head an FTSE 25 company and a major global bank.
iv.After leaving Standard Chartered in 2002, he founded Sabre Capital Worldwide, a private equity firm as its founder Chairman and a majority stakeholder.
v.In 2006, he joined DLF and served as a non-executive director on the board of DLF.
vi.He also served as the chairman of Centurion Bank, which later merged with the Bank of Punjab and became known as Centurion Bank of Punjab (CBoP).
vii.He was the Founding Governor of the Indian School of Business and a former member of the governing body of the London Business School.
viii.He also served on the boards of companies like Asahi India Glass and Great Eastern Energy Corporation.

Chandigarh’s 1st Hockey Olympian Sukhbir Singh Gill Passed AwaySukhbir Singh Gill, the 1st hockey Olympian from Chandigarh, passed away at the age of 48 in Chandigarh. He was born on 14th December 1975 in Chandigarh.
About Sukhbir Singh Gill:
i.He started his hockey training at the Shivalik Public School and Sector-42 Hockey Stadium (Chandigarh) before playing for Chandigarh at the junior nationals.
ii.Before securing a spot in the Indian team, he represented Panjab University (Chandigarh) in the All India Inter-University Hockey Championship.
iii.He was first selected for the Indian Under-21 men’s hockey team for a four-nation tournament in Belgium.
iv.He made his Indian team debut (senior) at the 1995 Sultan Azlan Shah Cup in Ipoh, Malaysia, and helped Indian team to win the title.
v.He represented Bharat Petroleum and the Chandigarh Dynamos in the Premier Hockey League (domestic hockey).
vi.Post retirement, he had been running an academy at Shivalik Public School in Mohali, Punjab and also organised an annual hockey tournament in the city.
Achievements:
i.He was the 1st hockey player from Chandigarh to represent India at the Sydney 2000 Olympics held in Sydney, Australia, where India finished 7th.
ii.He helped the Indian team to win a gold medal at the 2001 Men’s Hockey Champions Challenge held in Kuala Lumpur, Malaysia.
iii.He also participated in the International Hockey Federation’s (FIH) 2002 Men’s Hockey Champions Trophy (HCT) in Cologne, Germany

Assam CM Himanta Biswa Sarma releases 1st volume of ‘Political History of Assam (1947-1971)’
Assam Chief Minister(CM) Himanta Biswa Sarma has released the first Volume of ‘Political History of Assam (1947-1971)’ at the event held in the Lok Seva Bhawan in Guwahati(Assam).

• The book is published by the Assam government and edited by an eminent historian Dr.Rajen Saikia.
• The second and third volumes of the book covering the periods 1972-2001 and 2002-2020 will be completed by 2025.
• The book will present readers with insights into the political events that have shaped Assam’s socioeconomic landscape.