Daily Current Affairs 27 January 2024, Important News Headlines (Daily GK Update)

Read the most important current affairs of 27 January 2024. Today Current Affairs covers the headlines on Viability Gap Funding Scheme, India’s First AI Unicorn, International Customs Day 2024.

Top 17 Current Affairs and News Headlines of 27 January 2024

National News

1.63rd Central Geological Programming Board (CGPB) Meeting Convened In Bhopal

• The 63rd gathering of the Central Geological Programming Board (CGPB) took place in Bhopal, Madhya Pradesh, with Shri V.L. Kantha Rao, Secretary of the Ministry of Mines, presiding.
• The proposed Annual Programme for the ensuing Field Season year 2024-25 was presented for discussion. The Geological Survey of India (GSI) outlined approximately 1055 scientific programs.
• Collaboration with universities, agencies, and sponsorship from various authorities including IITs, NGRI, DRDO, NRSC-ISRO, and others was emphasized. Exploration projects through NMET funding were urged for implementation by State Governments.

2.Nirmala Sitharaman To Become 2nd FM To Present 6 Consecutive Union Budgets

• Finance Minister Nirmala Sitharaman is on the brink of etching her name in history books as she gears up to present her sixth consecutive Budget (Five consecutive annual Budgets and one interim Budget).
• Sitharaman’s impending presentation on February 1, 2024, marks the interim Budget for the fiscal year 2024-25. This interim Budget, commonly referred to as a vote-on-account, is pivotal in authorizing government expenditures until the advent of a new administration following the general elections slated for April-May.
• Prime Minister Morarji Desai, holds the distinction of presenting 10 Budgets—the highest by any Finance Minister—had consecutively presented six of them, including one interim Budget, in a row.

International News

3.Maersk Reveals World’s Largest Ship Fueled by Methanol

• In a monumental stride towards sustainability, maritime titan Maersk unveils its latest marvel: the Ane Maersk, a revolutionary container vessel powered by green methanol derived from green hydrogen.
• The Ane Maersk represents a bold leap into a greener future, boasting the title of the world’s largest container vessel fueled by green methanol, a derivative of green hydrogen.
• With an unprecedented capacity to carry 16,000 20ft shipping containers (TEU), the Ane Maersk eclipses its predecessor, the Laura Maersk, by nearly eightfold. This innovative propulsion system heralds a new era of eco-friendly maritime transportation.

4.Alabama Conducts First Nitrogen Gas Execution In US

• In a groundbreaking turn of events, Kenneth Smith, a convicted murderer, has become the first person in the United States to be executed by nitrogen gas.
• The execution, which took place in Alabama, introduces a new method intended to be the most painless and humane alternative to the previously predominant lethal injection.
• This move has positioned Alabama as a trailblazer in adopting nitrogen gas for capital punishment, joining the ranks of only a few states to approve this controversial method.

Economy News

5.Zomato Payments Secures RBI Approval as Online Payment Aggregator

• In a significant development, Zomato Payments Private Limited, the subsidiary of popular food delivery platform Zomato, has obtained the much-coveted payment aggregator (PA) license from the Reserve Bank of India (RBI).
• The approval, dated January 24, 2024, empowers Zomato Payments to facilitate ecommerce transactions through its platform.
• Following its incorporation on August 4, 2021, Zomato Payments aimed to function as a payment aggregator and issuer of pre-paid instruments.
• Last year, Zomato collaborated with ICICI Bank to introduce its Unified Payments Interface (UPI) offering, Zomato Pay, with the goal of minimizing dependency on platforms like Google Pay, PhonePe, and Paytm.

6.ICRA Upgrades FY24 Bank Credit Growth Forecast to 15%: Record Incremental Growth Anticipated

• In a positive turn, ICRA has revised its bank credit growth estimates for FY24 upwards to 14.9-15.3%, surpassing the previous projection of 12.8-13.0%.
• The surge is attributed to robust performance in the retail segment and non-banking finance companies (NBFCs), according to Anil Gupta, Senior Vice President at ICRA.
• The incremental credit is expected to reach Rs 20.4-20.9 trillion, marking the highest ever in bank credit growth, surpassing the previous high of Rs 18.2 trillion in FY23.

Business News

7.Air India Fined Rs 1.1 cr By Regulator For Safety Rule Violation

• Air India, a subsidiary of the Tata Group, incurred a hefty fine of Rs 1.1 crore from the Directorate General of Civil Aviation (DGCA), the country’s aviation regulator, for safety breaches.
• This penalty was imposed following a pilot’s report concerning insufficient emergency oxygen supply on Air India’s B777 aircraft, which are crucially utilized for long-range flights.
• In October last year, a pilot filed a complaint with the DGCA, alleging that Air India, a Tata Group-run airline, failed to provide sufficient emergency oxygen on its B777 aircraft. Subsequent investigations by the DGCA confirmed the validity of the pilot’s concerns, leading to the imposition of the fine.

8.RBI Greenlights LIC’s Acquisition of 9.99% Stake in HDFC Bank

• In a significant development, the Reserve Bank of India (RBI) has granted approval to Life Insurance Corporation of India (LIC) for acquiring up to 9.99% aggregate holding in HDFC Bank, the nation’s largest private sector bank.
• LIC has been advised to acquire the major shareholding in HDFC Bank within one year, concluding by January 24, 2025.
• The RBI stipulates that LIC must ensure its aggregate holding in HDFC Bank does not surpass 9.99% of the paid-up share capital or voting rights at any given time.

9.Cabinet Approves Rs 8,500 Crore Viability Gap Funding Scheme For Coal Gasification

• The Union Cabinet, on January 24, 2024, gave the green light to a groundbreaking Viability Gap Funding (VGF) scheme, allocating Rs 8,500 crores for Coal Gasification Projects.
• This strategic move is a pivotal step towards realizing the government’s ambitious mission to gasify 100 million tonnes of coal by 2030.
• The VGF scheme is designed with precision, dividing the funding into three categories. Government-owned companies, spearheading three key projects, are set to receive a substantial grant of Rs 4,050 crores.

10.Krutrim, Ola Founder’s AI Start-Up Emerges As India’s First AI Unicorn

• In a groundbreaking move for the Indian tech landscape, Bhavish Aggarwal, the visionary behind Ola, has successfully raised $50 million for his latest venture, Krutrim.
• Krutrim, co-founded by Bhavish Aggarwal, has swiftly emerged as a prominent player in the realm of Artificial Intelligence. Aggarwal, renowned for his innovative contributions through Ola and Ola Electric, now brings his tech prowess to the AI domain with Krutrim.
• The recent funding round, led by Matrix Partners India and other key investors, has propelled Krutrim to unicorn status. With a valuation of $1 billion, Krutrim is set to make significant strides in reshaping the landscape of artificial intelligence.

Important Days News

11.International Day of Commemoration in Memory of the Victims of the Holocaust 2024

• The International Day of Commemoration in Memory of the Victims of the Holocaust is an annual observance to remember and honour the six million Jewish victims and millions of other victims of Nazism during World War II.
• This day serves as a poignant reminder of the horrors of the Holocaust and the enduring need to fight against hatred, bigotry, and racism in all its forms.
• The United Nations General Assembly designated January 27 as the International Day of Commemoration in Memory of the Victims of the Holocaust in November 2005, with resolution 60/7. This date was chosen to mark the anniversary of the liberation of Auschwitz-Birkenau, the largest Nazi death camp, in 1945.

12.International Day of Clean Energy 2024

• International Day of Clean Energy, observed on January 26, is a significant day dedicated to promoting the importance of renewable energy for a sustainable and environmentally friendly future.
• This day serves as a reminder of the critical role clean energy plays in combating climate change, reducing carbon emissions, and ensuring a healthier planet for future generations.
• Observing International Day of Clean Energy on January 26 provides a timely opportunity to reflect on the progress made in the field of renewable energy and to recommit to advancing clean energy initiatives. It is a day to celebrate achievements in renewable energy technologies and to encourage further innovation and investment in this sector.

13.International Customs Day 2024

• Every year, on January 26, we celebrate International Customs Day, a special day dedicated to recognizing and appreciating the crucial role played by customs agencies worldwide.
• International Customs Day is observed annually on January 26. This tradition dates back to 1953, when the Customs Cooperation Council (CCC), now known as the World Customs Organization (WCO), designated this date to honour the work of customs officials.
• The decision was made during a session inaugurated in Brussels, Belgium, with representatives from 17 European countries. Since its renaming in 1994, the WCO has grown to include 182 member states, each committed to international cooperation in customs matters.

14.National Geographic Day 2024

• National Geographic Day 2024 is celebrated on January 27 every year. National Geographic Day is a special occasion dedicated to celebrating the rich history and contributions of the National Geographic Society in the fields of geography, natural science, and exploration.
• The National Geographic Society was founded on January 27, 1888, with a mission to increase and diffuse geographic knowledge. Over the years, it has become one of the world’s largest nonprofit scientific and educational organizations.
• The society is renowned for its groundbreaking expeditions, research, conservation efforts, and the iconic National Geographic Magazine, which has captivated readers for generations with its stunning photography and in-depth stories about our world.

Schemes News

15.Pradhan Mantri Suryoday Yojana: REC Ltd to Spearhead Rooftop Solar Mission with Rs 1.2 Lakh Crore Funding

• In a significant development, REC Ltd, a Maharatna power finance company, has been designated as the nodal agency for the ambitious Pradhan Mantri Suryoday Yojana.
• This initiative, announced by Prime Minister Narendra Modi on January 22, aims to install rooftop solar panels in one crore households.
• The scheme sets an ambitious target of installing rooftop solar in one crore households within a year, contributing to the larger goal of achieving 40 GW of rooftop solar installations by 2026.
• REC has been designated by the Ministry of New and Renewable Energy (MNRE) as the overall program implementation agency for the rooftop solar scheme, showcasing the company’s pivotal role in driving the initiative.

Agreements News

16.India’s ACME and IHI Sign Historic Green Ammonia Supply Pact

• India’s ACME Group and Japan’s IHI Corporation have inked a groundbreaking deal for the supply of 0.4 million metric tons per annum (MMTPA) of green ammonia from Odisha, India, to Japan.
• The signing ceremony witnessed the presence of notable figures, including Union Minister R. K. Singh and Ambassador Hiroshi Suzuki, emphasizing the strategic importance of the collaboration.
• The term sheet outlines a comprehensive partnership along the green ammonia value chain, targeting applications in power generation and various industries in Japan.
• Minister R. K. Singh highlighted the global significance of the agreement, positioning India as a major player in green hydrogen and green ammonia production.

Sports News

17.Rohan Bopanna: A New Milestone at 43 as the Oldest World No. 1 in Men’s Doubles

• Indian tennis star Rohan Bopanna has etched his name in the history books by becoming the oldest player to claim the No. 1 spot in the men’s doubles rankings at the age of 43.
• This remarkable achievement was secured following his quarter-final victory at the 2024 Australian Open, alongside Australia’s Matthew Ebden.
• Bopanna’s accomplishment surpasses the previous record held by American tennis player Mike Bryan, who was 41 years and 76 days old when he was ranked World No. 1 in men’s doubles in 2019.

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

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