Daily Current Affairs 03 January 2024, Important News Headlines (Daily GK Update)

Read the most important current affairs of 03 January 2024. Today Current Affairs covers the headlines on Chiranjeevi Scheme, ‘National Single Window System,’ International Mind-Body Wellness Day 2024.

Top 22 Current Affairs and News Headlines of 03 January 2024

International News

1.Putin Kicks Off Russia’s 2024 BRICS Chairmanship

• On January 1, Russian President Vladimir Putin officially marked the commencement of Russia’s 2024 BRICS Chairmanship. The overarching strategy will continue to promote BRICS partnerships in politics and security, economy and finance, as well as cultural and humanitarian contacts.
• During this handover, President Putin emphasized the motto for the upcoming tenure, “Strengthening Multilateralism for Equitable Global Development and Security.” This signifies Russia’s commitment to fostering collaboration among the BRICS nations – Brazil, Russia, India, China, and South Africa
• President Putin articulated Russia’s priorities, which encompass a wide array of sectors. These include cooperation in science, high technology, healthcare, environmental protection, culture, sports, youth exchanges, and civil society.

2.IMF to Release $700 Million Bailout Tranche to Pakistan in January

• Cash-strapped Pakistan is poised to receive a crucial $700 million bailout tranche from the International Monetary Fund (IMF) during the Executive Board meeting on January 11.
• The disbursement, under the existing $3 billion Stand-By Arrangement (SBA), is expected to provide much-needed financial support to Pakistan’s struggling economy.
• The IMF Executive Board is scheduled to discuss Pakistan’s case on January 11, potentially granting final approval for the release of the $700 million tranche. The current SBA, initiated in 2019, is set to conclude in April 2024, with approximately $1.8 billion remaining undisbursed.

State News

3.CM Yogi Adityanath Inaugurates UP’s First Floating Restaurant In Prayagraj

• In a groundbreaking move for the state of Uttar Pradesh, Chief Minister Yogi Adityanath inaugurated the state’s first floating air-conditioned restaurant during his visit to Sangam City.
• The restaurant, managed by the Uttar Pradesh State Tourism Development Corporation (UPSTDC), is set to redefine the dining experience for visitors on the picturesque Yamuna river.
• The newly inaugurated floating restaurant is poised to become a unique attraction in Prayagraj. With a seating capacity for approximately 40 visitors at a time, it offers an exquisite choice of cuisine and beverages, including sizzler steaks and mocktails.

4.Jharkhand Reduces Age Limit For Old-Age Pensions To 50

• In a significant move to enhance social security and address the challenges faced by marginalized communities, Chief Minister Hemant Soren of Jharkhand announced a reduction in the qualifying age for old-age pensions.
• The decision primarily targets tribals and Dalits, lowering the age threshold from 60 to 50 years. This bold initiative aims to provide financial support to a broader segment of the population, acknowledging the specific challenges faced by these communities.
• By extending pension benefits to tribals and Dalits at the age of 50, Chief Minister Soren acknowledged the challenges faced by these communities, including a higher death rate and limited employment opportunities after the age of 60.

5.Assam CM Launches 200 Eco-Buses In Guwahati To Combat Pollution

• In a significant step towards environmental sustainability, Assam Chief Minister Himanta Biswa Sarma flagged off 200 electric buses from Guwahati. This initiative marks one of the state government’s most substantial efforts to create a pollution-free environment in Assam.
• CM Sarma outlined a bold vision, aiming to establish Guwahati as the country’s first city powered by a 100% green public transportation system by the year 2025. This ambitious goal aligns with the global push for sustainable practices and cleaner modes of transportation.
• In addition to the electric bus fleet, CM Sarma ceremonially launched the National Common Mobility Card (NCMC) in Guwahati. Developed by the Ministry of Housing and Urban Affairs, the NCMC serves as a versatile transport card designed to simplify various transactions related to travel, toll taxes, and retail purchases.

6.PM Modi Launches Projects Worth Rs 20,000 Crore In Tamil Nadu

• Prime Minister Narendra Modi laid the foundation stone for a slew of development projects worth over Rs 20,000 crore in Tiruchirappalli, Tamil Nadu.
• These projects includes a new terminal building at Tiruchirappalli International Airport, developed at a cost of over Rs 1100 crore. The state-of-the-art terminal aims to serve more than 4.4 million passengers annually, significantly enhancing the region’s air connectivity.
• The projects encompass various sectors, including rail connectivity, roads, oil and gas, and shipping, and are poised to contribute significantly to the state’s progress. These projects are instrumental in fostering progress, creating employment opportunities for thousands, and enhancing travel facilities.

Economy News

7.India Inc’s Investment Slump Persists in FY24’s First Nine Months: Bank of Baroda Analysis

• India’s corporate sector investment in the first nine months (9M) of FY24, totaling ₹10.80 lakh crore, has raised concerns as it lags behind expectations, according to Bank of Baroda’s Economic Research Department (ERD).
• The analysis, relying on CMIE data, indicates a cautious approach among industries, with a particular focus on aviation, chemicals, machinery, and power sectors.
• FY24 investments stand at ₹10.80 lakh crore, notably lower compared to ₹21.89 lakh crore in 9MFY22 and ₹13.22 lakh crore in 9MFY21.
• The latest data, excluding the pandemic-hit 2020, reveals the lowest investment figures, emphasizing a hesitancy in the industry. Q3 FY24 witnessed a slight uptick at ₹2.15 lakh crore, yet considerably below the figures from the past 10 quarters.

Banking News

8.Tata Pay Secures RBI Payment Aggregator License for E-commerce Transactions

• Tata Pay, the digital payments app under Tata Digital, has been granted a payment aggregator (PA) license by the Reserve Bank of India (RBI).
• This license positions Tata Pay among industry leaders such as Razorpay, Cashfree, and Google Pay, enabling it to efficiently handle ecommerce transactions within its subsidiary entities.
• Tata Pay gains the capability to power ecommerce transactions within its ecosystem, enhancing fund management. Similar licenses were also obtained by other players like DigiO, a Bengaluru-based identity verification startup supported by Groww, allowing them to integrate payment services with their digital identification solutions.

9.Household Financial Savings and Liabilities in India: RBI’s Assessment

• The Reserve Bank of India (RBI) released its latest Financial Stability Report (FSR), revealing insights into the state of household financial savings and liabilities in the fiscal year 2022-23 (FY23).
• Despite a decline in gross household financial savings to 10.9% of GDP, the report emphasizes a limited risk of defaults by households, attributing it to the manageable exposure to higher mortgage payments and floating interest rates.
• The FSR notes a significant increase in household financial liabilities, rising from 3.8% of GDP in FY22 to 5.8% in FY23.
• This surge, driven by increased borrowings for physical asset creation, primarily in mortgages and vehicles, contrasts with a marginal moderation in financial assets to 10.9% in FY23 from 11.1% in FY22.

Business News

10.Flipkart’s Binny Bansal launches OppDoor

• Binny Bansal, co-founder of Flipkart, has ventured into the e-commerce space once again with his latest startup, OppDoor. The startup aims to facilitate the global expansion of e-commerce firms by offering comprehensive end-to-end solutions.
• The timing of OppDoor’s launch is noteworthy, aligning with the conclusion of the five-year non-compete clause that accompanied the sale of Flipkart to Walmart. This clause restricted Binny Bansal from participating in e-commerce ventures until 2023, and now, OppDoor emerges as the result of this awaited freedom.

11.Ola Electric Becomes First Indian EV Company To Get PLI Nod

• India’s electric vehicle (EV) landscape is witnessing a groundbreaking development as Ola Electric, the IPO-bound electric scooter company, secures eligibility for the government’s Production-Linked Incentive (PLI) scheme.
• In a recent report by ET Auto, it has been disclosed that Ola Electric successfully met the stringent eligibility criteria outlined in the PLI scheme, including a minimum of 50% domestic value addition to its electric vehicles (e2W).
• This accomplishment makes Ola Electric the first Indian e-scooter company to gain approval, paving the way for potential financial benefits ranging from INR 15,000 to 18,000 per unit.

12.India Unveils ‘National Single Window System’ by TCS to Simplify Medical Device Imports

• India’s Central Drugs Standard Control Organisation (CDSCO) has launched the ‘National Single Window System (NSWS),’ a unified portal designed by Tata Consultancy Services (TCS) to streamline the import of medical devices.
• The initiative aims to create a centralized platform for investors, enhancing the ease of doing business. The NSWS, developed by TCS through Invest India, becomes operational from January 1.
• The NSWS serves as a one-stop-shop for all approvals related to the import of medical devices. It facilitates applications for certificates of registration and licenses for manufacturing or importing medical devices for various purposes, such as clinical investigations, tests, evaluations, demonstrations, or training.

Important Days News

13.International Mind-Body Wellness Day 2024

• International Mind-Body Wellness Day, observed annually on January 3, is a global celebration dedicated to fostering the harmonious coexistence of physical and mental health.
• This occasion serves as a reminder of the interconnectedness of our mind, body, and spirit, emphasizing the importance of holistic well-being.
• International Mind-Body Wellness Day urges people worldwide to prioritize self-care, mindfulness practices, and healthy lifestyle choices. In the midst of our fast-paced modern lives, this observance serves as a call to pause and actively engage in behaviors that promote holistic well-being.

Schemes News

14.Rajasthan Seeks Integration of Chiranjeevi Scheme with Ayushman Bharat

• The newly elected BJP government in Rajasthan is making strides to merge its state health insurance scheme, Chiranjeevi, with the central Ayushman Bharat programme.
• This move, pending approval from the union health ministry, aims to create a unified initiative called the Ayushman Bharat Mukhyamantri Chiranjeevi Health Insurance Scheme.
• Officials reveal that the integrated scheme will maintain Chiranjeevi’s existing benefits, providing a substantial ₹25 lakh insurance cover applicable to both private and government hospitals.
• The Chiranjeevi scheme, initially introduced by former Chief Minister Ashok Gehlot of the Congress party, currently offers significantly higher coverage compared to Ayushman Bharat’s ₹5 lakh.

Ranks & Reports News

15.Hyderabad, Bengaluru Airports Score High in Global On-Time Ranking

• In a recent on-time performance review conducted by aviation analytics firm Cirium, Hyderabad and Bengaluru airports have emerged as global leaders in punctuality, securing the second and third ranks, respectively.
• With over 84 per cent on-time departures, these airports have showcased their commitment to efficiency and reliability in air travel.
• IndiGo, which stood fourth among Asia Pacific airlines with over 82 per cent on-time arrivals, plays a crucial role in contributing to the punctuality at these airports. Approximately half of all flights at Bengaluru and 65 per cent in Hyderabad are operated by IndiGo.

Agreements News

16.France And Germany To Provide 100 Million Euros For AMRUT Mission Financing

• France’s development agency, AFD, and Germany’s KfW Bank are reportedly in talks with India to extend a €100 million loan to support the country’s urban infrastructure plan, specifically the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0.
• This collaborative effort follows their recent partnership on the City Investments to Innovate, Integrate and Sustain (CITIIS) 2.0 program, demonstrating a continued commitment to sustainable urban development in India.
• The CITIIS 2.0 program, a four-year initiative, focuses on urban renewal and sustainable waste management. Both France and Germany have contributed €100 million each to this program, highlighting their shared commitment to fostering sustainable urban development in India.

Appointments News

17.Kia India Appoints Gwanggu Lee as New MD and CEO

• Kia India has appointed Gwanggu Lee as the new Managing Director and Chief Executive Officer, effective immediately. This transition marks an important shift in the leadership of the company, with Gwanggu Lee taking the reins from the former MD and CEO, Tae Jin Park.
• Gwanggu Lee is set to become the third MD and CEO of Kia India, succeeding Kook Hyun Shim and Tae Jin Park. Tae Jin Park, the former MD and CEO, is retiring after an illustrious 36-year journey with Kia Corporation, coupled with a commendable four-year stint with Kia India.

18.NIVEA India Appoints Geetika Mehta As New Managing Director

• Nivea India, a leading personal care products company, has appointed Geetika Mehta as its new managing director. This significant announcement marked a strategic move for the renowned brand.
• Mehta’s career boasts a proven track record of developing small businesses and successfully managing large-scale corporations.
• Her journey includes a recent role as the managing director at Hershey India, a confectionery giant, where she took charge in July 2021.
• Before her tenure at Hershey, Mehta dedicated nearly two decades to Hindustan Unilever Ltd, a major player in the consumer goods industry, holding various positions across different divisions.

19.Chadian Opposition Leader Succes Masra Appointed Transitional PM

• Chad’s transitional government has taken a significant step towards establishing civilian rule by appointing former opposition leader Succes Masra as the prime minister of Chad.
• This move comes after months of political unrest and opposition protests against the military rulers who assumed power in April 2021 after the death of longtime leader Idriss Deby Itno.
• Succes Masra, the president of The Transformers party, emerged as a prominent figure in opposition to the military rulers who took control of Chad last year. His strong opposition to the regime, which came to power after Deby’s death, reflects the broader sentiment against the military’s involvement in governance.

Obituaries News

20.Padma Bhushan Awardee Prof Ved Prakash Nanda Passes Away

• Professor Ved Prakash Nanda, a luminary in the Indian diaspora, recently passed away, leaving behind a legacy of profound contributions to literature, education, and international law.
• Born in 1934 in Gujranwala, British India, his journey transcended borders as his family migrated to India after the partition in 1947.
• Prof. Nanda’s remarkable career, including being awarded the Padma Bhushan in 2018, reflects his dedication to academia, international law, and fostering global understanding.

Miscellaneous News

21.Francoise Bettencourt Meyers Becomes First Woman With $100 Billion Fortune

• Francoise Bettencourt Meyers has made history by becoming the first woman to amass a staggering $100 billion fortune. Bettencourt Meyers’ wealth surged to an astounding $100.1 billion as reported by the Bloomberg Billionaires Index.
• This landmark moment coincided with a record high in the shares of L’Oréal SA, the beauty products empire founded by her grandfather. The stock is on track for its best year since 1998, solidifying her position as the 12th-richest person globally, trailing closely behind Mexico’s Carlos Slim.

22.Jammu and Kashmir becomes first UT to implement PM Vishwakarma Yojana

• Jammu and Kashmir has taken a significant step towards empowering its vibrant community of artisans and craftspeople by becoming the first Union Territory (UT) to implement the PM Vishwakarma Yojana (PMVY).
• This initiative, launched by the Central government in September 2023, aims to uplift and recognize the crucial role these skilled individuals play in preserving and enriching India’s cultural heritage.
• The official launch of PMVY in J&K took place on January 2, 2024, marking a momentous occasion for the UT. The ceremony also saw the commencement of the training program for the first batch of 30 trainees (Viswakarmas) specializing in ‘darzi craft’.

03 JANUARY CURRENT AFFAIRS 2024 | ALL EXAMS IMP. CURRENT AFFAIRS | ASHISH GAUTAM SIR

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