Current Affairs 10,11 & 12 February 2024

We are here for you to provide the important Recent and Latest Current Affairs 10,11 & 12 February 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Overview of PM Modi’s Visit to Goa on 6th February 2024On 6th February 2024, Prime Minister (PM) Narendra Modi visited Goa and inaugurated and laid the foundation stone for various projects worth over Rs 1330 crores during the Viksit Bharat-Viksit Goa 2047 programme.
i.PM Modi virtually inaugurated the permanent campus of the National Institute of Technology (NIT) Goa in Cuncolim, South Goa, Goa
ii.PM Narendra Modi inaugurated the 2nd edition of India Energy Week(IEW 2024) in Goa.
iii.PM inaugurated and dedicated to the nation, a new campus of the National Institute of Watersports in Goa.
About Goa:
Chief Minister (CM)– Pramod Sawant
Governor– P.S. Sreedharan Pillai
National Park– Mollem National Park
Wildlife Sanctuaries- Bondla Wildlife Sanctuary, Cotigao Wildlife Sanctuary
>> Read Full News

Headquarters of Confederation of International Tea Smallholders to Shift from China to IndiaThe headquarters of the Confederation of International Tea Smallholders (CITS) will shift from China to India. The decision was taken during the 25th session of the Food and Agriculture Organization (FAO) Intergovernmental Group on Tea (IGG/Tea) held at Guwahati, Assam for the 1st time from 31 January-2 February 2024.

• India took over as the Chair of the FAO IGG/Tea from the United Kingdom (UK) for the next 2 years (2024-2026) and the session was presided over by Saurav Pahari, Deputy Chairman of Tea Board India.
• Sri Lanka will host the next IGG session after 2 years in 2026.

Points to Note:
CITS was formed at the 22nd session of the FAO IGG in Naivasha, Kenya, in 2016.

• CITS was proposed to be under the auspices of FAO / IGG on Tea to support the small grower segment globally, especially in policies and solutions.

Decisions taken at FAO IGG/Tea:
i.The FAO IGG/Tea, which is under the United Nations (UN), also decided to take up the issue of climate change and assess the carbon footprint of tea plantations globally.
ii.The meeting also discussed the strategic framework for the group for the period 2022-31 as per the mandate of the FAO.
FAO-IGG session on Tea:
i.The FAO-IGG session on Tea, held every 2 years, is an intergovernmental platform for consultation, offering insights into tea production, consumption, trade, and pricing trends.
ii.Under FAO auspices, the group addresses changes in national policies and examines the international effects of national policies on current and prospective markets.
Note: The 24th Session of the IGG/Tea was held virtually on February 2022.
Key Points:
i.IGG/Tea, under the title Consultative Committee on Tea, was established by the Committee on Commodity Problems (CCP) at its 45th Session in 1969.

• The title of this Body was changed in 1971.

ii.Today, the IGG/Tea operates as a subsidiary body of the CCP, boasting a membership of 44 countries and 14 observers.
Note –
As of February 2024, Kenya is the world’s largest tea exporting country.
About Food and Agriculture Organization (FAO):
Director-General– QU Dongyu
Established in– 1945
Headquarters– Rome, Italy
Members– 194 Member Nations, and 1 member organization, the European Union.

Union Agri Minister launches SARTHI portal for insurance products & Krishi Rakshak HelplineUnion Minister Arjun Munda, Ministry of Agriculture & Farmers Welfare (MoA&FW) launched Sandbox for Agricultural and Rural Security, Technology and Insurance (SARTHI) Portal to offer a range of insurance products including Pradhan Mantri Fasal Bima Yojana(PMFBY).

• He also launched the Krishi Rakshak portal and helpline number (14447) to enable farmers in India to file their grievances.
• Union Minister also launched the Learning Management System (LMS) Platform for the farming community under the PMFBY.

Note: SARTHI was launched in collaboration with the United Nations Development Programme (UNDP) India. 
Key People: 
The initiative was launched in the presence of Ministers of State (MoS) of MoA&FW Sushri Shobha Karandlaje and Kailash Choudhary, and Manoj Ahuja, Secretary of MoA&FW.
About SARTHI Portal: 
i.This will simplify the insurance process for farmers by offering a digitised insurance process.
ii.This will act as a single window platform to view, purchase and avail the insurance products.
iii.The platform with a user-friendly interface has digital payment options and this will enable streamlined premium collection, effortless claim initiation, tracking and resolution.
iv.SARTHI can be accessed via the AIDE app available on the Android App Store.
v.Products will be introduced on the portal in a phased manner.
1st phase – personal accident and hospital cash policies.
2nd phase – health, shop and home insurance.
3rd phase – tractor, two-wheeler, livestock and non-PMFBY insurance products.
Krishi Rakshak Portal and Helpline: 
i.This will bridge the gap between insured farmers and insurance companies, bankers, Common Service Centres (CSCs) and governments.
ii.The farmers can register their grievances through this portal and helpline and the centre will be the mediator to ensure the grievances are resolved.
Learning Management System (LMS) 
i.The LMS was developed by MoA&FW in collaboration with the National E-Governance Division (NeGD) under the Ministry of Electronics and Information Technology(MeitY).
ii.This will ensure continuous learning, knowledge enhancement, and coordination among stakeholders.
About Pradhan Mantri Fasal Bima Yojana(PMFBY): 
i.PMFBY the flagship scheme of MoA&FW was launched on 18th February 2016 by Prime Minister (PM) Narendra Modi at Sehore, Madhya Pradesh.
ii.The scheme aims to support sustainable production in the agriculture sector by providing financial support to farmers and stabilizing the income of farmers to ensure their continuance in farming.

Dharmendra Pradhan launches EdCIL Vidyanjali Scholarship Programme 
Union Minister Dharmendra Pradhan, the Ministry of Education(MoE) launched the EdCIL Vidyanjali Scholarship Programme in New Delhi, Delhi.

• The Vidyanjali Scholarship Programme is to help students join higher education after secondary education and also provide financial assistance for higher education to the economically marginalised and meritorious students from Jawahar Navodaya Vidyalaya (JNV)
• The programme is implemented by Educational Consultants India Limited (EdCIL), Mini Ratna Category-1 Central Public Sector Enterprises (CPSEs), and is the only Public Sector Undertaking(PSU) under the MoE. Established in 1981, it offers management and consultancy services in all areas of education both within India and overseas.
• The Vidyanjali Fintech portal was also launched to facilitate student enrollment and distribute financial assistance.
• To encourage private involvement in education, there are about five Memorandum of Understanding (MoU) were exchanged between Corporate Social Responsibility (CSR) sponsors/impact founders including Fiat India, HDFC Bank Limited, ClearMedi Healthcare, Bharat Forge, and Bill & Melinda Gates Foundation.

BANKING & FINANCE

Highlights of RBI’s 6th Bi-monthly Monetary Policy of FY24; India’s real GDP to grow at 7% in FY24i.The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on February 6-8, 2024, and released the 6th ‘Monetary Policy Statement, 2023-24 Resolution of the MPC‘ which kept India’s real Gross Domestic Product (GDP) growth 7% in FY25 (2024-25) with Q1FY25 (April-June) at 7.2%, Q2FY25 (July-September) at 6.8%, and Q3FY25 (October-December) at 7%, and Q4FY25 (January-March) at 6.9%.
ii.The stance is to focus on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth.
iii.The Central Bank Digital Currency Retail (CBDC-R) pilot, currently facilitating Person to Person (P2P) and Person to Merchant (P2M) transactions, will be expanded to include programmability and offline functionality.
Static Points:
i.Under the Reserve Bank of India (RBI), Act,1934 (RBI Act,1934) (as amended in 2016), RBI is entrusted with the responsibility of conducting monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth.
ii.Section 45ZB of the amended RBI Act, 1934 provides for an empowered six-member Monetary Policy Committee (MPC) to be constituted by the Central Government by notification in the Official Gazette.

• The first such MPC was constituted on September 29, 2016.

>> Read Full News

IREDA Receives RBI Nod to set up Subsidiary in Gift City
The Indian Renewable Energy Development Agency Ltd. (IREDA) has received approval (No Objection Letter) from the Reserve Bank of India (RBI) to set up its wholly-owned subsidiary in the International Financial Services Centre (IFSC) situated in GIFT City (Gujarat International Finance Tec-City) in Gujarat.

• The new subsidiary will serve as an offshore platform for securing competitive funding to push the growth of the renewable energy sector.
• It will also increase IREDA’s access to innovative financing options and enhance collaboration with international investors.

Note:
IREDA is a Mini Ratna (Category – I) Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy (MNRE).

• It has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as a Non-Banking Financial Company (NBFC) with RBI.

HDFC Bank Raises USD 300 Million through Maiden Sustainable Finance Bond Issue
HDFC Bank Limited has raised USD 300 million through its first-ever sustainable finance bond issue as a part of its overall raise of USD 750 million through Regulation S Bonds.

• In addition to a USD 300 million bond, it also raised USD 450 million through senior unsecured five-year dollar bonds with an interest rate of 5.180%.
• The USD 300 million Bond has a maturity period of three years at an interest rate of 5.196%.
• The funds raised through the sustainable finance bonds will be prioritised for lending towards electric vehicles, small and medium-sized enterprises(SMEs) and affordable housing.
• The bonds will be issued by the bank’s Gujarat International Finance Tec-City branch and will be listed on the India International Exchange.

Note:
Regulation S is a type of bond open for offers and trades outside the United States of America for U.S. and non-U.S. Qualified Institutional Buyers.

ECONOMY & BUSINESS

Maharashtra Govt Signs MoU with Google for AI-led Solutions across SectorsThe Maharashtra government signed a Memorandum of Understanding (MoU) with search engine giant Google to utilise innovative and scalable Artificial Intelligence (AI)-led solutions across sectors including agriculture, healthcare, education, etc.
Google Renamed its AI chatbot Bard as Gemini and launched Gemini Advanced, a new Gemini app for its Android mobile operating system and also released Gemini Ultra 1.0.
About Google:
Chief Executive Officer (CEO-)- Sundar Pichai
Headquarters- California, United States of America
Established in- 1998
>> Read Full News

AWARDS & RECOGNITIONS

Indian sprinter P.T. Usha Honoured with SJFI’s Lifetime Achievement AwardPresident of the Indian Olympic Association (IOA) and Indian sprinter Pilavullakandy Thekkeyparambil Usha (P.T. Usha) was conferred with the Lifetime Achievement Award with Gold Medal by Sports Journalists’ Federation of India (SJFI) in an event held at the National Sports Club of India (NSCI), New Delhi, Delhi.

• The programme was co-hosted by Delhi Sports Journalists’ Association (DSJA), one of the affiliates of SJFI.

Key People:
The event was attended by Rajeev Shukla, Member of Parliament(MP) of Rajya Sabha and Vice President of Board of Control for Cricket in India (BCCI); former Indian shooter Jaspal Rana.
Key Points:
i.The award consists of a Gold Medal, a citation and a memento. SJFI award is the highest honour of SJFI.
ii.PT Usha is the fifth recipient of the SJFI Gold Medal. The other four receipts are:

• Former Indian tennis player Vijay Amritraj
• Former Indian badminton player Prakash Padukone
• Former Indian cricketer Sunil Gavaskar
• Former Indian sprinter Late Milkha Singh

About PT Usha:
i.PT Usha hails from Payyoli, Kerala.
ii.She is the winner of 4 Asian gold medals and 7 Silver medals, and fourth place finisher in the 1984 Los Angeles Olympics (United States) 400m hurdles final.

• From 1977 to 2000, Usha won 103 international medals.

iii.At the age of just 16 years, she became the youngest sprinter to ever represent India at the biggest stage for track and field athletes.
iv.PT Usha was awarded the Arjuna Award and the Padma Shri Award(in the field of sports) in 1983 and 1985.
v.In July 2022, she was nominated to the Rajya Sabha by the Bharatiya Janata Party (BJP).
vi.In December 2022, she became the first woman President of IOA.

APPOINTMENTS & RESIGNATIONS

Lebanese Judge Nawaf Salam Elected as President of the International Court of JusticeJustice Nawaf Salam from Lebanon was elected as the President of the International Court of Justice (ICJ), the principal judicial organ of the United Nations(UN), for 3 years with effect from 6th February 2024.

• Nawaf Salam succeeds Judge Joan E Donoghue from the United States of America(USA) who served as president of ICJ from 2021 to 2024.

Vice President:
Justice Julia Sebutinde from Uganda was elected as the Vice President(VP) of ICJ for 3 years with effect from 6th February 2024. She succeeds Kirill Gevorgian (Russian Federation), who served as VP of ICJ from 2021-2024.

• Julia has been a judge of ICJ since February 2012 and was re-elected in February 2021.

About Justice Nawaf Salam: 
i.Nawaf Salam has been a member of ICJ since February 2018.
ii.He has previously served as an Ambassador and Permanent Representative of Lebanon to the UN from 2007 to 2017.
iii.He has also represented Lebanon (non-permanent member) in the UN Security council (2010-2011) and assumed the presidency of the council in May 2010 and September 2011.
iv.He also represented Lebanon in the Economic and Social Council of the UN in 2016 and 2018.
About International Court of Justice (ICJ):
The seat of the ICJ is at the Peace Palace in The Hague, The Netherlands.
ICJ was established in June 1945 and began activities in 1946.
ICJ Judge: ICJ comprises 15 judges (including the President and Vice President of ICJ) elected for a term of 9 years.
Note: Judge Dalveer Bhandari from India is one of the 15 Judges of ICJ. He has been a member of ICJ since April 2012 and was re-elected in February 2018.

• Dalveer was awarded Padma Bhushan in 2014 in the field of Public Affairs.

ACQUISITIONS & MERGERS

BFHL Secured IRDAI approval to Acquire Aegon Life Insurance Bandhan Financial Holdings Limited (BFHL) has received the final approval from Insurance Regulatory and Development Authority of India (IRDAI) to acquire the 100% paid up share capital of Aegon Life Insurance Company.
Note:
i.Aegon Life Insurance is a joint venture (JV) of Aegon NV and Bennett, Coleman & Company Limited (BCCL), the owner and publisher of The Economic Times.
ii.BFHL is the parent company of Kolkata (West Bengal) based Bandhan Bank Limited.
Background:
i.In July 2023, BFHL signed a definitive agreement with Aegon NV and BCCL to acquire their entire shareholding in Aegon Life Insurance.
ii.BFHL received the consent from Reserve Bank of India (RBI) in January 2024.
IRDAI approves Capital Infusion of Rs 1612 cr by Axis Bank into Max Life Insurance
Axis Bank Limited has received approval from IRDAI to infuse the capital of Rs 1,612 crore in Max Life Insurance Company Limited, the subsidiary of Max Financial Services Limited (MFSL).

• The transaction is subject to approval of the Competition Commission of India (CCI).

Key Points:
i.For this transaction, Max Life Insurance will issue 14.25 crore shares at the price of Rs.113 per share to Axis Bank.
ii.Through this process, Axis Bank will raise its stake in Max Life to 16.22% from 9.99%.
iii.Axis bank along entities, Axis Securities and Axis Capital, will own 19.02% stake in Max Life.

• Previously in 2021, Axis bank and its entities acquired a 12.99% stake in Max Life.

iv.Following this transaction, share of MFSL in Max Life will be reduced from 87% to 81%.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Established in – 1999  (Incorporated in 2000)

SCIENCE & TECHNOLOGY

SpaceX Launched NASA’s PACE satellite to Study Earth’s Oceans, Air & Climate On 8th February 2024, the National Aeronautics and Space Administration (NASA) launched “PACE” – the Plankton, Aerosol, Cloud, ocean Ecosystem, an Earth-observing satellite to study the ocean health, air quality, and the effects of Climate change.

• The PACE onboard SpaceX’s Falcon 9 rocket was launched to a sun-synchronous orbit (SSO) from Space Launch Complex (SLC) 40 at Cape Canaveral Space Force Station in Florida, the United States of America (USA).

Note: This was the 4th flight of Falcon 9’s first stage booster supporting this mission, which previously launched Crew-7, CRS-29, and one Starlink mission.
About PACE Mission:
i.From its orbit about 420 miles above Earth, the PACE mission will study microscopic life in the oceans and microscopic particles in the air to investigate key mysteries of our planet’s interconnected systems.
ii.NASA’s Launch Services Program, based at Kennedy Space Center in Florida, managed the launch services of the mission.
iii.The PACE mission is managed by NASA Goddard Space Flight Center in Greenbelt, Maryland. NASA Goddard built and tested the spacecraft and the Ocean-Colour Instrument (OCI).
iv.PACE will enable researchers to study the effects of Climate change on phytoplankton, a vital players in the global carbon cycle which absorbs carbon dioxide (CO2) from the atmosphere and converts it into cellular material.
PACE’s Scientific Focus:
i.The satellite’s hyperspectral OCI will allow researchers to measure oceans across the spectrum of ultraviolet (UV), visible, and near-infrared (IR) light.

• It enables the identification and tracking of phytoplankton distribution on a daily, global scale, a first from space, and supports fisheries health forecasting.

ii.The spacecraft carries 2 polarimeter instruments:

• Hyper-Angular Rainbow Polarimeter #2 – designed and built by the University of Maryland, Baltimore County
• Spectro-polarimeter for Planetary Exploration – developed and built by a Dutch consortium led by Netherlands Institute for Space Research, Airbus Defence, and Space Netherlands.

The polarimeters will detect how sunlight interacts with atmospheric particles, providing information on atmospheric aerosols, cloud properties, and air quality at different scales.
About National Aeronautics and Space Administration (NASA):
Administrator– Bill Nelson
Headquarters– Washington, D.C., U.S.
Established in– 1958

SPORTS

Assam CM Launched Logo, Anthem, Mascot, Jersey, and Torch of 4th Khelo India University GamesOn 8th February 2024, Assam Chief Minister(CM) Himanta Biswa Sarma launched the Logo, Anthem, Mascot, Jersey, and Torch of the 4th edition of the Khelo India University Games(KIUG 2023) in an event held at the Karmabir Nabin Chandra Bordoloi Indoor Stadium in Guwahati, Assam.

• The launch ceremony was attended by Nisith Pramanik, Union Minister of State (MoS) for Youth Affairs & Sports and Home Affairs.

Note: KIUG 2023 is set to be held from 19th -29th  February 2024.
About the Mascot:
The Mascot of the KIUG 2023 is ‘Ashtalakshmi’, a butterfly.
i.Ashtalakshmi is a symbol of grace and symbolism which represents Northeast India’s vast biodiversity and natural magnificence.
ii.The wings of the mascot feature the cultural motifs and colours in each scale, and depicts the Northeast region’s diverse beauty.
About KIUG 2023:
i.Khelo India University Games (KIUG) is a national-level multi-sport event held in India for athletes from universities across India. The event is organised as a part of the Khelo India movement. 
ii.KIUG 2023, jointly hosted across the states of North East region (except Manipur), will be held across 18 venues, in 7 cities.

• Guwahati(Assam) will host 16 disciplines of KIUG 2023 including athletics, rugby, basketball, volleyball, swimming, badminton, hockey, fencing, kabaddi, football, tennis, mallakhamb, judo, table tennis, boxing, and shooting.
• The remaining four, Men’s boxing, weightlifting, wrestling and yogasana, will be hosted across the rest of the Northeastern states.

Note:
The 3rd edition of the KIUG 2022 was held in Uttar Pradesh (UP) from 25th May to 3rd June 2023.

India and Bangladesh Declared Joint Champions of SAFF U19 Women’s Championship
The Indian women’s team along with Bangladesh has been declared the joint winners of the South Asian Football Federation (SAFF) Under19 (U-19) Women’s Championship 2024 title.

• The 5th edition of the SAFF U19 Women’s Championship was hosted by Bangladesh and held from 2-8 February 2024 at the Bir Shreshtha Shaheed Shipahi Mostafa Kamal (BSSSMK) Stadium, Dhaka, Bangladesh.
• Initially, the Indian team was declared as the winner through a coin toss, after the final match ended in a draw in both normal time and the penalty shoot round. The decision was revoked later since there is no rule for a coin toss.
• It was India’s second title, including its first win in 2022 since the tournament’s first edition was held in 2018.

STATE NEWS

Telangana Cabinet Decides to Change Prefix of Vehicle Registration, State Emblem, Talli statue The Chief Minister (CM) of Telangana, Anumula Revanth Reddy in his 1st cabinet meeting decided to replace the prefix code of vehicle registration from TS to TG, proposed to adopt a new state emblem, and a redesigned Telangana Talli (mother) statue.

• The Cabinet also approved ‘Jaya Jaya he Telangana, Janani Jaya ketanam’, as Telangana’s official song written by Ande Sri.
• Changes in the emblem and statue will be made after consultation with stakeholders, poets, and people.

Points to Note:
Both the state emblem and Thalli statue were designed by the previous Bharat Rashtra Samithi (BRS) government led by K Chandrashekar Rao (KCR).
State Emblem:The Telangana state logo came into existence in 2014 and was designed by a native artist Laxman Aelay.
State Song:
The ‘Jaya Jaya he Telangana, Janani Jaya ketanam’ song was adopted by many organisations and schools in Telangana during the statehood movement, replacing the ‘Maa Telugu Talliki’ song in the undivided Andhra Pradesh.
Telangana Talli (mother) statue:
i.The Telangana Talli statue, which symbolises the prosperity of the region, was designed first in 2003 during the statehood agitation.
ii.In 2022, Anumula Revanth Reddy unveiled a new Telangana Talli statue.The statue was designed by Raju Prajapathi of Kishan Bag.

• The statue was dressed in tricolour in standing posture, holding branches of sugarcane and jowar in the left hand and blessing people with the right one.

Other Cabinet Decisions:
i.The cabinet has approved the establishment of the Kodangal Area Development Authority (KADA) to foster comprehensive development in the Kodangal assembly constituency, a region represented by CM Revanth Reddy.
ii.Approval was also granted for the:

• Allotment of 100 acres at Rajendranagar for the construction of new high court buildings.
• Upgradation of the 65 government Industrial Training Institutes (ITIs) into advanced technology centers.
• Approved a statue for Gaddar (renowned revolutionary singer) in Tellapur town, Telangana.

Note: Revanth Reddy has also replaced the Nandi Awards for cine artists with the Gaddar Awards, which will honour poets and artists as well.
About Telangana:
Chief Minister– Revanth Reddy
Governor– Tamilisai Soundararajan
Wildlife Sanctuaries– Pakhal Wildlife Sanctuary, Jannaram Wildlife Sanctuary
Tiger Reserves– Nagarjunsagar Srisailam Tiger Reserve, Kawal Tiger Reserve, and Amrabad Tiger reserve

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