Daily Current Affairs 17 January 2024, Important News Headlines (Daily GK Update)

Read the most important current affairs of 17 January 2024. Today Current Affairs covers the headlines on ‘Ramayan’ Festival, 2024 Military Rankings, Festival ‘Jallikattu’, Edelman Trust Barometer 2024.

Top 19 Current Affairs and News Headlines of 17 January 2024

National News

1.Ministry of Home Affairs Revokes FCRA Registration of Centre for Policy Research

• The Ministry of Home Affairs in India has revoked the Foreign Contribution (Regulation) Amendment Act, 2020, registration of the Centre for Policy Research (CPR) in New Delhi, alleging violations.
• The leading public policy research institution, spearheaded by Congress leader Mani Shankar Aiyar’s daughter, Yamini Aiyar, has faced government scrutiny for purportedly breaching FCRA regulations.
• Last year, the government temporarily suspended CPR’s FCRA license for 180 days, a period subsequently extended by another 180 days.
• Established in 1973, CPR is a prominent policy think-tank known for its advanced research on diverse policy issues, focusing on the challenges facing India in the 21st century.

2.India To Host Year-long ‘Ramayan’ Festival From Delhi

• India is set to launch a year-long festival, seeking global connections through the celebration of Ramayan and its cultural significance.
• The festival is scheduled to commence from Delhi’s historic Purana Qila (Old Fort) on January 18 and will traverse various cities such as Lucknow, Ayodhya, and Varanasi.
• The “Year of Connecting the World Through Ramayana” promises a vibrant array of events, starting with the inaugural week at Purana Qila from January 18-24. The festivities include ballet performances, talks, and interactive arts and crafts exhibitions centered around the Ramayana.

State News

3.Bull-Taming Festival ‘Jallikattu’ Starts In Tamil Nadu

• Tamil Nadu, a lively state in South India renowned for its cultural richness and traditional festivities, kicked off the Jallikattu competition in the village of Avaniyapuram within Madurai district.
• Jallikattu, a highlight of the Pongal harvest festival held in the second week of January, is poised to extend its excitement over a three-day period with Avaniyapuram hosting the first day, followed by Palamedu on the second day and Alanganallur on the third
• Jallikattu, a bull-taming sport, traces its roots back to around 2,000 years, showcasing a deep-seated connection to the cultural fabric of Tamil Nadu. Initially conducted as a means to select suitable bridegrooms, the event has evolved into a symbol of valor and tradition.

Defence News

4.Vice Admiral Vineet McCarty Assumes Role As Commandant, Indian Naval Academy, Ezhimala

• Vice Admiral Vineet McCarty officially assumed the prestigious position of Commandant at the Indian Naval Academy on January 15, 2024.
• Vice Admiral McCarty’s journey in the Indian Navy began on July 1, 1989, when he was commissioned into the service. Over the years, he has distinguished himself through various roles and responsibilities, showcasing exemplary leadership and dedication to the nation.
• Vice Admiral McCarty’s specialization in ‘Gunnery and Missiles’ became evident early in his career. He served as part of the commissioning crew of INS Delhi and completed specialist tenures onboard a frontline Guided Missile Destroyer, showcasing his prowess in naval weaponry and technology.

Banking News

5.Karnataka Bank and Clix Capital Forge Digital Co-Lending Partnership via Yubi Platform

• In a strategic move aligned with Reserve Bank of India guidelines, Karnataka Bank (KBL), a prominent private sector bank, and Clix Capital, a rapidly growing NBFC, have joined forces through the Yubi Co.lend Platform.
• This digital co-lending partnership targets the Indian MSME sector, a key driver of the country’s GDP and employment growth.
• Paired with Clix Capital’s robust lending tech platform and thorough due diligence, the alliance aims to provide seamless and accessible finance solutions. This initiative is a response to the RBI’s encouragement for banks and NBFCs to co-lend to priority sectors.

6.RBI Releases Draft Norms for Fintech Self-Regulatory Organisations

• The Reserve Bank of India (RBI) has unveiled a draft framework for the establishment and recognition of self-regulatory organizations (SROs) in the fintech sector.
• The draft rules aim to strike a balance between fostering innovation within the industry and ensuring regulatory priorities are met for consumer protection and risk containment.
• To ensure broad industry representation, membership in the SRO-FT should be voluntary and inclusive of FinTechs. The SRO-FT must be recognized as the primary authority responsible for setting market standards and defining rules of conduct.

Business News

7.LIC overtakes SBI to become the most valuable PSU

• In a significant turn of events, the Life Insurance Corporation of India (LIC) has not only staged an impressive comeback but has also surpassed the market capitalization of the State Bank of India (SBI).
• LIC’s share price gained over 2% in morning trades, propelling its market capitalization to cross the ₹5.8 Lakh Crore mark. Touching 52-week highs of ₹919.45 a piece, LIC’s market cap now stands higher than that of the State Bank of India (SBI), signalling a significant milestone for the insurance giant.
• The PAR and Non-PAR business segments have been strategic focus areas for LIC. The participating life insurance plan (PAR) allows policyholders to share in the company’s profits, enhancing overall margins.

8.Government Reduces Windfall Tax on Crude Oil Amid Global Economic Concerns

• In response to the evolving dynamics of the global oil market, the Indian government has decided to slash the windfall tax on domestically-produced crude oil, effective January 16.
• The tax, levied as the Special Additional Excise Duty (SAED), has been reduced from Rs 2,300 per tonne to Rs 1,700 per tonne.
• The move aims to address the challenges posed by soaring crude oil prices and is part of the government’s fortnightly review mechanism based on average oil prices in the preceding two weeks.
• The reduction in windfall tax comes against the backdrop of concerns about weakened global economic conditions and an increase in crude inventories in the United States, contributing to a decline in crude prices.

Important Days News

9.Sri Guru Gobind Singh Jayanti 2024

• Guru Gobind Singh Jayanti, also known as Prakash Utsav, is a significant Sikh festival commemorating the birth anniversary of Guru Gobind Singh Ji, the tenth and last Sikh Guru. This auspicious day is celebrated with immense joy and fervour by Sikh communities around the world.
• Guru Gobind Singh Jayanti holds immense significance for Sikhs as it marks the birth of a visionary leader who not only strengthened the Sikh community but also stood against tyranny and injustice.
• Guru Gobind Singh Ji is renowned for establishing the Khalsa Panth, a community of initiated Sikhs, in 1699. The creation of the Khalsa symbolized the spirit of courage, selflessness, and devotion to righteousness.

Ranks & Reports News

10.Gujarat, Kerala, Karnataka Lead In Startup Ecosystem Development: DPIIT

• The startup ecosystem in India witnessed a significant boost as Gujarat, Kerala, Karnataka, and Tamil Nadu emerged as the best-performing states in the Startup Ranking for 2022.
• Maharashtra, Odisha, Punjab, Rajasthan, and Telangana were also recognized as top performers in this dynamic landscape.
• A total of 33 states and union territories actively participated in the evaluation, categorized under five distinct groups – best performers, top performers, leaders, aspiring leaders, and emerging startup ecosystems.
• The much-anticipated rankings were officially unveiled by Union Commerce Minister Piyush Goyal. The Department for Promotion of Industry and Internal Trade (DPIIT), a crucial department under the Commerce Ministry, carried out the evaluation.

11.US Leads 2024 Military Rankings, India Fourth, Bhutan Ranks Lowest

• The Global Firepower’s Military Strength Rankings for 2024 offer a comprehensive assessment of military capabilities worldwide.
• The rankings, encompassing 145 countries, take into account more than 60 factors, including troop numbers, military equipment, financial stability, geographic location, and available resources.
• The top 10 countries with the most powerful militaries in the world, according to Global Firepower’s rankings for 2024, are as follows:

  Sno.	Country	Power Index
  1	United States	0.0699
  2	Russia	0.0702
  3	China	0.0706
  4	India	0.1023
  5	South Korea	0.1416
  6	United Kingdom	0.1443
  7	Japan	0.1601
  8	Turkey	0.1697
  9	Pakistan	0.1711
  10	Italy	0.1863

12.India Emerges as a Global Leader in Trust: Edelman Trust Barometer 2024

• In the recently unveiled Edelman Trust Barometer 2024, India emerges as a global frontrunner in trust, topping the charts in confidence in businesses and non-governmental organizations (NGOs). However, the nation secures the 4th spot for media trust and the 5th position for trust in the government.
• The comprehensive survey, encompassing over 32,000 respondents across 28 countries, highlights a pattern where developing nations outpace their developed counterparts in overall trust perception.
• The survey also indicates a global trend of skepticism, with 63% globally expressing concerns about intentional misinformation from government leaders.

Agreements News

13.World Economic Forum and Telangana Government Collaborate to Establish C4IR in Hyderabad

• In a groundbreaking move, the World Economic Forum (WEF) and the Telangana government are jointly establishing the 19th Centre of the WEF’s Fourth Industrial Revolution Network (4IR) in Hyderabad.
• The collaboration, solidified during a meeting between Telangana Chief Minister A Revanth Reddy and WEF President Borge Brende at Davos, underscores the commitment to advancing healthcare technology.
• The centre aims to align with the broader vision of the Telangana government and WEF, emphasizing collaborative efforts to enhance lifestyles and living standards.
• The C4IR in Hyderabad is poised to become the world’s premier healthcare hub, providing employment opportunities in the healthcare sector and fostering partnerships between the government and small and medium enterprises. The official launch is scheduled to take place during BioAsia 2024.

14.IndoSpace Signs Rs 2000 Cr Deal With Tamil Nadu Govt

• IndoSpace, a leading player in industrial and logistics real estate, has solidified its commitment to Tamil Nadu’s economic development by signing a Memorandum of Understanding (MoU) valued at Rs 2000 crore.
• IndoSpace’s Rs 2000 crore investment is expected to generate employment opportunities for approximately 15,000 individuals. This boost in job creation is a positive step towards addressing unemployment challenges and fostering a more robust economy for Tamil Nadu.
• The MoU underscores IndoSpace’s strategic focus on contributing to the growth of Tamil Nadu’s industrial landscape. This significant investment is poised to have far-reaching implications, not only for the state’s economic prosperity but also for job creation.

Books & Authors News

15.The book “An Uncommon Love: The Early Life of Sudha and Narayana Murthy” released

• The book “An Uncommon Love: The Early Life of Sudha and Narayana Murthy,” authored by Chitra Banerjee Divakaruni offers an intimate view into the lives of one of India’s most respected couples, Sudha and Narayana Murthy, the co-founders of Infosys.
• The Murthys are known for their philanthropic work and pivotal roles in the Indian IT industry. Their story is unique, with a deep connection to literature and reading, particularly Kannadiga writers.
• The book explores the professional challenges they faced, particularly Narayana Murthy’s dedication to building Infosys. The biography also touches on an incident where Narayana Murthy had to sleep in a storeroom during a business trip due to a demanding client, highlighting the struggles they faced in their early professional years.

Sports News

16.Praggnanandhaa Surpasses Viswanathan Anand to Become India’s No.1 Chess Player

• Rameshbabu Praggnanandhaa, an 18-year-old chess prodigy from Chennai, achieved a historic milestone in his career by defeating World Champion Ding Liren from China.
• The win against Ding Liren not only marked a personal victory for Praggnanandhaa but also led him to surpass the legendary Viswanathan Anand as the top-rated Indian player.
• With a FIDE live rating of 2748.3, Praggnanandhaa marginally edged past Anand’s rating of 2748. This achievement places Praggnanandhaa as the second Indian, following Anand, to defeat a reigning world champion in classical chess. He had previously defeated Ding Liren at the Tata Steel tournament in 2023 as well​​​​​.

Science & Technology News

17.India International Science Festival 2023 Kicks Off Today

• The India International Science Festival (IISF) 2023 has commenced today on January 17, marking the beginning of a four-day extravaganza celebrating the achievements of India in the frontier areas of science and technology.
• Organized by the Department of Science and Technology (DST), Govt. of India, and coordinated by the National Innovation Foundation-India, IISF 2023 aims to foster scientific temperament, acknowledge achievements, and spread awareness among the Indian populace.
• The central theme for IISF 2023 is “Science and Technology Public Outreach in Amrit Kaal.” This theme underscores the importance of public engagement in science and technology, emphasizing outreach initiatives that contribute to the betterment of society.

18.Pixxel Inaugurates MegaPixxel: A State-of-the-Art Satellite Manufacturing Facility in Bengaluru

• Bengaluru-based space tech startup Pixxel marked a significant milestone on January 15 with the inauguration of its cutting-edge spacecraft manufacturing facility, named “MegaPixxel.”
• The 30,000 sq ft facility is poised to revolutionize satellite production capabilities in India. MegaPixxel is equipped to provide comprehensive satellite manufacturing services, including spacecraft assembly, integration, and testing (AIT) under one roof.
• MegaPixxel features two modern clean rooms conforming to ISO Class 7 and ISO Class 8 standards, ensuring a controlled environment to safeguard against contaminants during satellite assembly and integration.

Miscellaneous News

19.The Kashi Ropeway – A Spiritual Journey Inspired by Lord Shiva

• The Kashi Ropeway in Varanasi, inspired by the theme of Lord Shiva, is set to be a landmark project combining spirituality and modern transportation.
• The ropeway stations at Varanasi Cantt feature artefacts reflecting Lord Shiva, including the damru (drum), trident, conch, river, moon, and riverfront.
• The system will have 153 gondolas, each carrying ten passengers, capable of moving 3,000 people per hour in each direction. Operating for 16 hours daily, it offers a convenient mode of transportation for locals and tourists​​.
• The 3.85 km journey will include five stations: Vidya Peeth, Bharatmata Mandir, Rath Yatra, Girja Ghar, and Godowlia Chowk. It promises a swift 16-minute ride from Varanasi Cantt to the Godaulia intersection.

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

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