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Click here for Current Affairs 22 February 2024
INTERNATIONAL AFFAIRS
World Governments Summit 2024 held in Dubai, UAE
- WGS 2024 was held under the theme of “Shaping Future Governments”.
- At present, Mohammad Al Gergawi, Minister of Cabinet Affairs (UAE) is the chairman of the World Governments Summit (WGS) organization.
Note: WGS Organisation is a global, neutral, non-profit organization dedicated to shaping the future of governments.
Highlights:
i.India, Türkiye and Qatar were named the Guests of honour at the WGS 2024 held in Dubai, UAE.
ii.India’s iRASTE (Intelligent Solutions for Road Safety through Technology and Engineering) project won the 9th GovTech Prize under the “AI-Powered Government Services” category.
iii.Road and Transport Authority (RTA) of Dubai has signed an agreement with Joby Aviation to launch the world’s 1st electric Air taxi service in Dubai, UAE by 2026.
About United Arab Emirates(UAE):
UAE is a federation of 6 emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, and Fujairah.
Capital– Abu Dhabi
President– Sheikh Mohamed bin Zayed Al Nahayan
Currency– United Arab Emirates Dirham
>> Read Full News
Malta Becomes 119th Country to Join International Solar Alliance
- The capital city of Malta is Valletta.
About International Solar Alliance (ISA):
The ISA was established in Paris, France in 2015 as a joint effort by India and France to mobilize efforts against climate change through the deployment of solar energy solutions. It was conceptualized on the sidelines of the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Paris in 2015.
Key Points:
i.Its purpose is to endorse clean energy, a sustainable environment, public transport, climate, and deploying cost-effective and transformational solutions through solar energy, especially in the Least Developed Countries (LDCs) and the Small Island Developing States (SIDS).
ii.ISA’s ‘Towards 1000’ strategy targets mobilizing USD 1 trillion investments in solar energy by 2030, providing clean energy access to 1 billion people, and installing 1 terawatt (TW)/1000 Giga Watt (GW) of solar energy capacity.
- Director General– Dr Ajay Mathur
- Headquarters– Gurugram, Haryana
- Member Countries– 97 (As of February 22, 2024)
Note –
In December 2023, Romania became the 118th Signatory Country to join ISA.
Click Here for Signatory countries
US & Nepal Launched Shanti Prayas IV Multinational Peacekeeping exercise at Nepal
The exercise was co-hosted by the Nepali Army and the United States(US) Indo-Pacific Command (USINDOPACOM).
Note: USINDOPACOM is a unified combatant command for the Indo-Pacific region of the armed forces of the United States of America(USA). It is part of the US Global Peace Operation Initiative (GPOI).
Opening Ceremony:
i.General Prabhu Ram Sharma, Chief of Nepali Army Staff along with Rachel Schiller, Deputy Assistant Secretary for Programs and Operations, Bureau of Political-Military Affairs and Pushpa Kamal Dahal, Prime Minister (PM) of Nepal presided over the opening ceremony of the exercise held at Army parade ground in Kathmandu, Nepal
ii.Representatives from 19 nations participated in the opening ceremony.
About Shanti Prayas IV:
Objective:
i.To improve the interoperability and peacekeeping skills of the forces at various levels before their deployment to the United Nations (UN) peacekeeping missions;
ii.Strengthen military-to-military cooperation; and
iii.Enhance the core Peacekeeping Operations (PKO) competencies of all participants by UN doctrine.
Global Participation:
Over 1,100 military personnel from 17 nations are participating the exercise.
- The 17 countries are: Australia, Bangladesh, Canada, Fiji, Ghana, India, Indonesia, Malaysia, Mongolia, Nigeria, Pakistan, Philippines, South Korea, Sri Lanka, Thailand, Uruguay, and Vietnam.
Training Components:
i.The 2024 edition of Shanti Prayas IV consists of:
- UN PKO staff training event (STE);
- Field training event (FTE);
- A critical Enabler capability enhancement event (2CE) at BPOTC.
ii.All the components will focus on UN and international peacekeeping and stability operations.
Integration of Women in Peacekeeping:
i.The exercise includes specific training on the integration of women in UN peacekeeping operations for the maintenance and promotion of peace and security, aligned with UN Security Resolution 1325.
ii.Women’s participation and involvement enhance international peacekeeping operations and strengthen multinational relationships throughout the region.
About Shanti Prayas:
i.The inaugural edition of the 2-week long Shanti Prayas was held in 2000 in Nepal. The 2nd & 3rd editions were held in 2013 and 2017 in Nepal.
ii.This multinational military exercise will be hosted rotationally between Nepal and the US.
BANKING & FINANCE
JICA Signed ODA Loan of JPY Yen 232.209 billion with India for 9 projects across Sectors
About Japan International Cooperation Agency (JICA):
The current organisation was established in 2003 and replaced a semi-governmental organisation formed in 1974 under the jurisdiction of the Ministry of Foreign Affairs.
President– Dr. TANAKA Akihiko
Headquarters– Tokyo, Japan
>> Read Full News
PFRDA Amends National Pension System Trust & Pension Fund Regulations for Good Governance
Note: These amendments are in line with Union Budget 2023-24 announcement to review regulations to reduce the cost of compliance and enhance the ease of doing business.
Key Amendments:
i.The amendments to NPS Trust Regulations simplify the provisions related to appointment of Trustees, their terms and conditions, holding of meetings of Board of Trustees and appointment of CEO (Chief Executive Officer)- NPS Trust.
ii.Amendments to Pension Fund Regulations simplify the provisions related to governance of Pension Funds in line with Companies Act, 2013 and enhanced disclosure by Pension Funds.
Other Amendments:
i.Clarify roles of Sponsor of Pension Fund & Pension Fund, as well as compliance to ‘fit and proper person’ criteria.
ii.Pension Funds to form additional Board committees like Audit Committee and Nomination & Remuneration Committee.
iii.Include ‘Pension Fund’ in the name clause, with existing pension funds required to comply within 12 months.
iv.Mandate inclusion of Directors’ responsibility statement in annual reports of schemes managed by pension funds.
Click here for the detailed information on the amended regulations: NPS Trust and Pension Fund
About Pension Fund Regulatory and Development Authority (PFRDA):
PFRDA is a regulatory body that operates under the Ministry of Finance.
Chairman– Dr. Deepak Mohanty
Headquarters– New Delhi, Delhi
Establishment– 2003
ECONOMY & BUSINESS
Morgan Stanley projects India’s GDP to Grow at 6.9% in FY24 and 6.5% in FY25
Key Points:
Growth Rate:
i.The GDP growth rate of the third quarter (Q3) of FY24 (October to December 2023) is projected to be 6.5%.
ii.The GDP growth rate of the first half (H1) of FY24 (April to September 2023) was at 7.7%.
Inflation:
i.The report also projected the headline inflation to be in the range of 5.0-5.2% in the first quarter (Q1) of FY24 (April to June 2023).
ii.For FY24 & FY25, the average headline inflation will be at 5.4% and 4.5% respectively.
iii.The core inflation slowed down to 3.6% in January 2024.
CPI & WPI:
i.Consumer Price Index (CPI) dropped to a 3-month low of 5.1% in January 2024 from 5.7% in December 2023.
ii.Wholesale Price Index (WPI) moderated to 0.3% Year-Over-Year (YoY) in January 2024 from 0.7% in December 2023.
Demand Front:
i.Domestic demand is increasing on a Year-Over-Year (YOY) basis & reached a 3-month high in January 2024.
ii.As far as external demand is concerned, the exports grew 3.1% in January 2024 which is 1% higher than that of December 2023.
Others:
i.Current Account Deficit (CAD) will be at 1.2% of GDP in FY24 and 1.3% of GDP in FY25.
ii.The report also anticipates that there will be a shallow rate cut cycle of 50 basis points from June 2024 by the Reserve Bank of India (RBI) on monetary policy.
iii.Goods and Services Tax (GST) rose to its 2nd-highest to Rs 1.7 lakh crore (10% YoY growth), Manufacturing Purchasing Manager’s Index (PMI) improved to 56.9
AWARDS & RECOGNITIONS
Shashi Tharoor conferred Chevalier de la Legion d’Honneur, Highest Civilian Award of France
- He was recognised for his tireless efforts to deepen Indo-French ties, his commitment to international peace and cooperation, and as a long-standing friend of France.
Note:
The award was announced to Shashi Tharoor in August 2022, and only the formal ceremony was held on 20th February 2024.
About Shashi Tharoor:
i.He is a former international diplomat, politician(Member of Indian National Congress), writer, and public intellectual, serving as a Member of Parliament (MP) for Thiruvananthapuram, Kerala, since 2009.
ii.He served 29 years(1978-2007) at the United Nations(UN), rising to the position of Under-Secretary-General for Communications and Public Information in 2002.
iii.He served as Union Minister of State (MoS) for External Affairs(May 2009-April 2010) and Human Resource Development(2012-2014).
iv.In 2010, the King of Spain honoured Shashi Tharoor with the Encomienda de la Real Order Espanola de Carlos III’, Spain’s highest civilian award.
v.In January 1998, Mr. Tharoor was named by the World Economic Forum in Davos, Switzerland, as a “Global Leader of Tomorrow”.
Prominent books of Shashi Tharoor:
i.Shashi Tharoor is the author of a number of books, including the 2019 Sahitya Akademi Award-winning (non-fiction) novel “An Era of Darkness: The British Empire in India”.
ii.The Great Indian Novel(1989), Bookless in Baghdad (2005), Pax Indica,(2012), India Shastra: Reflections on the Nation in our Time (2015).
iii. An Era of Darkness: The British Empire in India (2016), Why I Am A Hindu (2018), The Paradoxical Prime Minister (2018), and The Hindu Way: An Introduction to Hinduism (2019)
About Légion d’Honneur:
i.The Légion d’Honneur (Legion of Honour) was instituted in 1802 by Napoleon Bonaparte in France.
ii.It is the highest civilian award given by the French Republic for outstanding service to France, regardless of the nationality of the recipients.
iii.The President of the French Republic is the Grand Master of the Order of the Legion of Honour.
iv.The list of prominent Indians who received the award includes Natarajan Chandrasekaran(Chairman of Tata Sons), Kiran Nadar, Dr V R Lalithambika(scientist -ISRO), and many others.
APPOINTMENTS & RESIGNATIONS
KVS Manian Appointed as Joint Managing Director of Kotak Mahindra Bank
About KVS Manian:
i.Previously, he served as the President of Consumer banking in KMBL.
ii.He has played a major role in transforming Kotak from a Non-Banking Financial Company (NBFC) to a bank.
Other Appointments:
i.Shanti Ekambaram, whole-time director of KMBL, has been designated as deputy MD with effect from 1st March 2024. She is currently serving as the President of Consumer Banking, KMBL.
ii.Devang Gheewalla has been appointed as Group President and Group Chief Financial Officer(CFO) of KMBL with effect from 1st April 2024.
- He will succeed Jaimin Bhatt, the incumbent group president and group CFO who is set to retire on 31st March 2024.
Note:
i.These appointments are subject to necessary approvals.
ii.This marks the first management rejig after Ashok Vaswani took charge as the MD & Chief Executive Officer (CEO) of KMBL on 1st January 2024.
About Kotak Mahindra Bank Limited (KMBL):
KMBL was launched as Kotak Mahindra Finance Limited in 1985. In 2003, It became the first NBFC in India to receive a banking license from the Reserve Bank of India (RBI).
MD & CEO- Ashok Vaswani
Headquarters– Mumbai, Maharashtra
Tagline– ‘Let’s make money simple’
Prabowo Subianto to be Appointed as 8th President of Indonesia 
- He will replace Joko Widodo (Jokowi), a member of the Indonesian Democratic Party of Struggle (PDI-P), who has been serving the post since 2014 for two consecutive terms (2014-19 & 2019-24).
Indonesia Presidential Election:
i.Indonesia Presidential Election was contested by three candidates namely Anies Baswedan (Former Governor of Jadaka), Ganjar Pranowo (Former Governor of Central Java) & Prabowo Subianto.
ii.In the voting process conducted on 14th February 2024, Prabowo Subianto secured 58% of the vote thereby becoming eligible to be the President of Indonesia. The official vote count will end by March.
- Anies Baswedan and Ganjar Pranowo received only 25.3% and 16.6% of the votes respectively.
iii.Prabowo Subianto will be serving as the President of Indonesia for a term of five years (till 2029).
About Prabowo Subianto:
i.Prabowo Subianto joined the Indonesian Military Academy in 1970 and then became part of the Kopassus, a special forces unit of the Indonesian National Armed Forces.
ii.In 2008, he co-founded a political party ‘Gerindra’(an acronym for Great Indonesia Movement).
iii.He also contested the Presidential election twice (in 2014 and 2019) against Jokowi.
iv.In 2019, he was appointed as the Defence Minister to the Government of Indonesia.
Additional Info:
Gibran Rakabuming Raka will be made as the youngest Vice President (VP) of Indonesia.
About Republic of Indonesia:
President – Joko Widodo
Capital – Jakarta
Currency – Indonesian Rupiah
SCIENCE & TECHNOLOGY
PhonePe Launches Made-In-India Indus Appstore
Walmart Inc.-owned fintech, PhonePe Private Limited launched “Indus Appstore,” a made-in-India Android-based mobile application store for consumers in India.
- The shop will feature over 200,000 mobile apps and games in 12 Indian languages.
- Developers will not need to pay any application listing fees until April 2025 and may use any third-party payment gateway of their choice.
Skyroot Aerospace Launches Kalpana Fellowship for Women in Space Sector
Skyroot Aerospace Private Limited, a Hyderabad (Telangana)-based space startup, launched the Kalpana Fellowship, India’s first-of-its-kind fellowship program dedicated exclusively to women engineers in the space sector.
- The one-year fellowship program provides an extensive approach that includes a monthly stipend, experiential learning, and guidance from seasoned professionals.
- It also offers access to world-class infrastructure and innovative technologies at Skyroot Aerospace.
- It is open to final-year students and recent graduates in relevant engineering disciplines.
Note:
Skyroot launched India’s first privately-built rocket ‘Vikram-S’ under the mission “Mission Prarambh” (the beginning) in 2022.
OBITUARY
Legendary Radio Presenter & Padma Shri Awardee Ameen Sayani Passed Away
Renowned Radio presenter and Padma Shri Awardee Ameen Sayani passed away at the age of 91 in Mumbai, Maharashtra. He was born on December 21, 1932, in Mumbai.
- He was most known for his program Binaca Geetmala (now Cibaca Geetmala) on Radio Ceylon.
Awards/Honours:
i.The government of India honoured him with Padma Shri in 2009 (Field: Others).
ii.He is also the recipient of the Living Legend Award (2006) from the Federation of Indian Chambers of Commerce & Industry(FICCI), with India Radio Forum.
About Ameen Sayani:
i.Initially, he worked as an English-language presenter for All India Radio(AIR) in Mumbai, where his brother Hamid Sayani was a broadcaster.
ii.Ameen Sayani was hired by his brother to host the Hindi film song show “Geetmala” on Radio Ceylon in 1952.
- Binaca Geetmala was aired for over 42 years, starting in 1952 primarily on Radio Ceylon, and then moved to AIR Vividh Bharati Service in 1989 and ran till 1994.
iii.He holds the record for hosting and comparing over 54,000 radio programs. He also holds a record in the Limca Book of Records for his contributions to approximately 19,000 jingles as a voiceover artist.
iv.The “Bournvita Quiz Contest (English),” one of his non-film radio works, which he took over from Hamid Sayani in 1975 after his death, was extremely popular.
v.He also produced “Swanaash,” a 13-episode AIR radio series on Human Immunodeficiency Virus (HIV)/Acquired Immunodeficiency Syndrome (AIDS).
Germany’s FIFA World Cup Winner Andreas Brehme Passed Away
Former German footballer Andreas Brehme has passed away at the age of 63. He was part of the West Germany national football team that won the Federation Internationale de Football Association (FIFA)World Cup 1990 against Argentina in Rome, Italy.
- He represented the national team in 86 international matches and scored 8 goals.
- He also played for various domestic football clubs(FC) including Kaiserslautern(1981-86 and 1993-98), FC Bayern Munich (1986-88), and Inter Milan (1988–1992).
Note:
Germany was split into two parts West Germany and East Germany from 1949 to 1990.
BOOKS & AUTHORS
The book “Neeraj Chopra: The Man Who Made History” written by Norris Pritam
Renowned sports journalist Norris Pritam has written a new book “Neeraj Chopra: The Man Who Made History” which describes the journey of the javelin thrower Neeraj Chopra’s life from early background to Olympics.
- The book was published by Bloomsbury Publishing India Pvt. Ltd.
- Neeraj Chopra was the first Indian to win a gold medal in athletics in the Olympics when he clinched it in the 2020 Tokyo Olympics.
Note:
Neeraj Chopra was recently(in Feb’24) honoured by Swiss tourism with a commemorative plaque at Ice Palace in Jungfraujoch, known as the ‘Top of Europe’, in Switzerland.
IMPORTANT DAYS
World Thinking Day 2024- February 22
- The day also raises funds for the development of 10 million Girl Guides and Girl Scouts across the globe.
The theme of WTD 2024 is “Our World, Our Thriving Future: The Environment and Global Poverty”.
Note: WTD is annually observed and organised by World Association of Girl Guides and Girl Scouts (WAGGGS), the largest voluntary movement dedicated to empowering girls and young women in the world.
About World Association of Girl Guides and Girl Scouts (WAGGGS):
WAGGGS was formed in 1928 at the 5th International Conference in Hungary.
Chief Executive Officer– Anna Segall
Headquarters– London, United Kingdom
>> Read Full News
STATE NEWS
Telangana Deputy CM Bhatti Vikramarka Mallu presented Vote on Account Rs 2,75,891 crore Budget for FY25
i.This is the first budget presented by the Congress Government which came to power after the recent elections.
ii.This outlay of the budget includes Rs 201,178 crore towards revenue expenditure and Rs 29,669 crore for capital expenditure.
iii.Free bus travel for women costs Rs 300 crore monthly.
iv.Gruha Jyothi gets Rs 2,418 crore allocation. Education department gets Rs 21,389 crore; including Rs 500 crores for infrastructure improvement.
About Telangana:
Chief Minister– Revanth Reddy
Governor– Tamilisai Soundararajan
National Parks– KBR National Park, Mahavir Harina Vanasthali National Park
Wildlife Sanctuaries– Kawal Wildlife Sanctuary, Pranahita Wildlife Sanctuary
>> Read Full News
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List of Less Important News – Click Here
Current Affairs Today (AffairsCloud Today)
| Current Affairs 23 February 2024 |
|---|
| World Governments Summit 2024 held in Dubai, UAE |
| Malta Becomes 119th Country to Join International Solar Alliance |
| US & Nepal Launched Shanti Prayas IV Multinational Peacekeeping exercise at Nepal |
| JICA Signed ODA Loan of JPY Yen 232.209 billion with India for 9 projects across Sectors |
| PFRDA Amends National Pension System Trust & Pension Fund Regulations for Good Governance |
| Morgan Stanley projects India’s GDP to Grow at 6.9% in FY24 and 6.5% in FY25 |
| Shashi Tharoor conferred Chevalier de la Legion d’Honneur, Highest Civilian Award of France |
| KVS Manian Appointed as Joint Managing Director of Kotak Mahindra Bank |
| Prabowo Subianto to be Appointed as 8th President of Indonesia |
| PhonePe Launches Made-In-India Indus Appstore |
| Skyroot Aerospace Launches Kalpana Fellowship for Women in Space Sector |
| Legendary Radio Presenter & Padma Shri Awardee Ameen Sayani Passed Away |
| Germany’s FIFA World Cup Winner Andreas Brehme Passed Away |
| The book “Neeraj Chopra: The Man Who Made History” written by Norris Pritam |
| World Thinking Day 2024- February 22 |
| Telangana Deputy CM Bhatti Vikramarka Mallu presented Vote on Account Rs 2,75,891 crore Budget for FY25 |
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