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CURRENT AFFAIRS : BANKING & FINANCE

State Bank of India Reports 35% Decline in Q3 Net Profit Due to Pension Provision

• State Bank of India (SBI) reported a drop in net profit for the first time in 12 quarters, with its third quarter (Q3FY24) standalone net profit declining 5 percent year-on-year (yoy) to ₹9,164 crore as it absorbed one-time provisions relating to increase in pension liabilities and dearness relief neutralisation.
• India’s largest bank had reported a net profit of ₹14,205 crore.
• Reasons for Profit Decline: The decline in profit was attributed to absorbing one-time provisions, including ₹5,400 crore for correcting anomalies in pension liabilities dating back to 2002 and ₹1,700 crore for dearness relief neutralization for pre-2002 retirees.

Key Highlights :

• Net Interest Income (NII): NII (difference between interest earned and interest expended) was up 4.59 per cent yoy at ₹39,816 crore (₹38,069 crore in Q3FY23).
• Other Income: Remained almost flat at ₹11,459 crore, which includes various sources such as fee income, foreign exchange earnings, and profits or losses from investments and derivatives.
• Net Interest Margin (NIM): Declined to 3.34% in Q3FY24, indicating a decrease in the bank's profitability from its core lending operations.
• Gross Non-Performing Asset (NPA) Ratio: Stood at 2.42% at the end of December, indicating the proportion of bad loans relative to total assets.
• Capital Adequacy Ratio (CAR): Declined to 13.05% in Q3FY24 from 14.28% in the previous quarter (Q2FY24), potentially signalling reduced capacity to absorb losses or risks.

Recent News :

• In Feb 2024, More than a year after disbursing loans to Adani Group's Ganga Expressway project, State Bank of India (SBI) is in the process of downselling half of the nearly ₹11,000-crore loan exposure to the longest tolled road-project in the country.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti

RBI Issues Directive for Overhauling Internal Compliance Monitoring

• The Reserve Bank of India (RBI) issued a crucial directive (RBI/2023-24/117) on January 31, 2024 with an aim to bring about a significant transformation in the internal compliance monitoring function across various financial institutions.

Key Highlights :

• Automation Necessity : The RBI observed the varying degrees of automation in Supervised Entities (SEs) and highlighted the necessity for comprehensive and integrated technological solutions to enhance the efficiency of compliance monitoring.
• Review Findings : This directive comes as a review of the aforementioned function showed that automation of the compliance monitoring process in REs remains a work in progress with various aspects of this function being carried out with significant manual intervention.
• Covered Institutions : The REs include Scheduled Commercial Banks (excluding Regional Rural Banks), Small Finance Banks; Payments Banks; large urban co-operative banks, large non-banking finance companies (including housing finance companies); Credit Information Companies and All India Financial Institutions.
• Assessment by RBI : RBI had carried out an assessment in select REs of the prevailing system in place for internal monitoring of compliance with regulatory instructions and the extent of usage of technological solutions to support this function.
• The central bank noted that REs has adopted varying levels of automation to support the Internal Compliance monitoring function, ranging from use of macro-enabled spreadsheets to workflow-based software solutions.
• Implementation Deadline : The central bank asked the REs to carry out a comprehensive review of the existing internal compliance tracking and monitoring processes and institute necessary changes to existing systems or implement new systems latest by June 30, 2024.
• Monitoring Mechanism : It also wants an appropriate monitoring mechanism to be put in place to review the progress of its implementation.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Reserve Bank of India Imposes Rs 5 Lakh Penalty on Bajaj Housing Finance for Breaching Regulations

• The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 lakh on Bajaj Housing Finance for non-compliance with certain regulatory provisions.

Key Highlights :

• Regulatory Provisions: The penalty was levied due to the company's contravention of specific provisions outlined in the 'Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021'.
• Statutory Inspection: The National Housing Bank conducted a statutory inspection of Bajaj Housing Finance concerning its financial position as of March 31, 2022.
• Non-Compliance: RBI highlighted that the Pune-based company failed to obtain prior written permission from the RBI for a change in management, resulting in a change in more than 30% of the directors, excluding independent directors.
• Intent of Penalty: RBI clarified that the imposed penalty is based on identified deficiencies in regulatory compliance and does not aim to pass judgement on the validity of any transactions or agreements between the company and its customers.

RBI Reports 97.50% Return of ₹2,000 Banknotes in Circulation by January 31, 2024

• The Reserve Bank of India (RBI) announced that 97.50% of the ₹2,000 banknotes in circulation as of May 19, 2023, have been returned as of January 31, 2024.

Key Highlights :

• The total value of ₹2,000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of ₹2,000 banknotes was announced, has declined to ₹8,897 crore at the close of business on January 31, 2024.
• RBI emphasised that ₹2,000 banknotes continue to be legal tender.
• The RBI had announced the withdrawal of ₹2,000 banknotes on May 19, 2023, from circulation as these notes were not commonly used for transactions and the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public.
• Then, RBI also stated that the withdrawal is in pursuance of its “Clean Note Policy”.
• The facility for exchange of the ₹2000 banknotes is available at the 19 Issue Offices of the Reserve Bank (RBI Issue Offices)1 since May 19, 2023.
• From October 09, 2023, RBI Issue Offices are also accepting ₹2000 banknotes from individuals / entities for deposit into their bank accounts.
• Further, members of the public from within the country are sending ₹2000 banknotes through India Post from any post office in the country, to any of the RBI Issue Offices for credit to their bank accounts.

National Bank for Agriculture and Rural Development Forecasts 16% Increase in West Bengal's Priority Sector Lending Potential to ₹3.15 Lakh Crore for FY25

• The National Bank for Agriculture and Rural Development (NABARD) projected a robust double-digit growth in priority sector lending potential of ₹3.15 lakh crore in West Bengal for 2024-25.

Key Highlights :

• NABARD's Chief General Manager Usha Ramesh unveiled the West Bengal state focus paper alongside bankers, State Chief Secretary B P Gopalika, and other officials.
• The paper projects a priority sector lending potential of ₹3.15 lakh crore in West Bengal in 2024-25, marking a 16 per cent increase from the previous fiscal year's figure of ₹2.70 lakh crore.
• In the first quarter of the current fiscal year, priority sector lending in the state amounted to ₹86,531 crore.
• According to the projections, the MSME sector is expected to lead the way with a 48.64 per cent share in the total credit growth outlook, followed by the agriculture sector, including infrastructure, at 36.71 per cent.
• Meanwhile, the State Level Bankers' Committee's annual credit plan has set a credit disbursal target of ₹1.45 lakh crore to the MSME sector under priority sector lending.
• As of September 2023, ₹89,002 crore had been disbursed, representing 61 per cent of the target.
• However, progress in the agriculture sector has been slower, with only 34.21 per cent of the target achieved till September.

Recent News :

• In Aug 2023, the National Bank for Agriculture and Rural Development (NABARD) sanctioned Rs 1,974.07 crore to the Rajasthan government under the Rural Infrastructure Development Fund (RIDF) for 2023-24.

About NABARD :

• Headquarters : Mumbai, Maharashtra, India
• Chairman : Shri. Shaji K V
• It was established on the recommendations of the B. Sivaraman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
• NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).

CURRENT AFFAIRS: NATIONAL NEWS

The first-ever BIMSTEC Aquatic Championship in New Delhi has been inaugurated by Union Minister Anurag Thakur

• Sports Minister Anurag Thakur inaugurated the first-ever BIMSTEC Aquatic Championship in New Delhi.
• The championship features the seven BIMSTEC member nations from South and Southeast Asia competing in distinct aquatic events.
• The sports meet serves as a platform for shared prosperity, fairness, and mutual respect for the BIMSTEC nations.
• The sports of swimming, diving, and water polo were chosen to signify the endurance, strength, collaboration, cooperation, and cultural richness of BIMSTEC.
• The Minister urged the participants to showcase excellence and engage with the cultures of the participating nations.
• Manusarave Gunawardhena, captain of the Sri Lankan swimming team shared his excitement of competing first time in the subcontinent and the hopes of his team and nation.
• The BIMSTEC Aquatic Championship 2024 is a six-day sporting event with over 400 sportspersons and officials from its member nations from the Bay of Bengal region.
• The BIMSTEC consists of India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand.

Union Minister G Kishan Reddy has laid the foundation stone for the country's first digital National Museum of Epigraphy in Hyderabad.

• Union Culture Minister, G Kishan Reddy laid the foundation stone for the country's first digital National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
• The Archaeological Survey of India is establishing the museum and about one lakh ancient inscriptions of various languages and periods of time will be placed in it.
• Union Finance Minister Nirmala Sitaraman announced last year, the establishment of the Bharat Shared Repository of Inscriptions (BharatSHRI) with the digitisation of one lakh ancient inscriptions.
• Mr Reddy termed it a pivotal step in the Modi government's emphasis on "Vikas Bhi Virasat Bhi" and commitment to leverage technology to make art and heritage accessible to everyone.
• This will be a groundbreaking digital museum, opening a treasure trove of knowledge to scholars and researchers.

Prime Minister inaugurates projects worth over Rs 1330 crores in Goa.

• The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for development projects worth over Rs 1330 crores in Viksit Bharat, Viksit Goa 2047 program in Goa.
• Shri Modi also took a walkthrough of the exhibition showcased on the occasion. The development projects include a boost to infrastructure in the education, sports, water treatment, waste management and tourism sectors.
• The Prime Minister also distributed appointment orders to 1930 new Government recruits across various departments under Rozgar Mela and also handed over sanction letters to beneficiaries of various welfare schemes.
• “Ek Bharat Shreshtha Bharat can be experienced during any season in Goa”, he remarked.
• He also drew attention to the great saints, famous artists and scholars who were born in Goa and remembered Sant Sohirobanath Ambiye, playwright Krishna Bhatt Bandkar, vocalist Kesarbai Kerkar, Acharya Dharmanand Kosambi and Raghunath Anant Mashelkar.

Background

• The Prime Minister inaugurated the permanent campus of the National Institute of Technology, Goa to the nation.
• The newly built-up campus has various facilities such as tutorial complex, departmental complex, seminar complex, administrative complex, hostels, health center, staff quarters, amenity center, sports ground and other utilities to cater to the needs of students, faculty and staff of the Institute.

Indian Prime Minister has inaugurated India Energy Week in 2024.

• The Prime Minister, Shri Narendra Modi inaugurated India Energy Week 2024 in Goa.
• India Energy Week 2024 is India’s largest and only all-encompassing energy exhibition and conference, bringing together the entire energy value chain to catalyze India's energy transition goals.
• The Prime Minister also held a roundtable with Global oil & gas CEOs and experts.
• India Energy Week 2024 is taking place at a significant period when India’s GDP rate crossed 7.5 per cent in the first six months of the financial year, the Prime Minister said that the growth rate is higher than the global growth estimate making India the fastest growing economy in the world.

Background

• Achieving Aatmanirbharta in energy requirements has been a key focus area of the Prime Minister.
• In yet another step in this direction, India Energy Week 2024 is being held from 6 – 9 February in Goa and is India’s largest and only all-encompassing energy exhibition and conference, bringing together the entire energy value chain, and will serve as a catalyst for India's energy transition goals.
• The Prime Minister also held a roundtable with Global oil & gas CEOs and experts.

Union Minister Nitin Gadkari approves ₹2,248.94 crore for the construction of the Lada-Sarli section of NH-913 in Arunachal Pradesh.

• Union Minister of Road Transport & Highways, Shri Nitin Gadkari has approved a fund of Rs. 2,248.94 crores for the construction of the Lada-Sarli section of NH-913 (Frontier Highway) in Arunachal Pradesh on EPC mode, spanning 105.59 km across Packages 1, 2, 3, & 6.
• This vital project, dedicated to providing a swift communication network for security forces, is poised to stimulate economic activities, fostering reverse migration towards vibrant border areas.
• Additionally, it established essential road infrastructure, connecting crucial river basins and facilitating the development of numerous hydropower projects in the state.
• This greenfield road holds promise for tourism, catering to sparsely populated areas of Upper Arunachal, and anticipating increased traffic in the future.

Indian Prime Minister Narendra Modi inaugurated the Commonwealth Attorneys and Solicitors General Conference (CLEA) in New Delhi.

• Prime Minister Shri Narendra Modi inaugurated the Commonwealth Legal Education Association (CLEA) - Commonwealth Attorneys and Solicitors General Conference in New Delhi.
• The theme of this conference is Cross-Border Challenges in Justice Delivery.
• During the conference, important issues of law and justice will be deliberated.
• Some of these issues are judicial transition and the ethical dimensions of legal practice, executive accountability and revisiting modern-day legal education.
• Participants in the conference are Attorney Generals and Solicitors from the Commonwealth nations spanning the Asia-Pacific, Africa, and the Caribbean along with different international delegations.
• The conference serves as a unique platform. It offers a forum for interaction among different stakeholders in the Commonwealth legal fraternity.
• An exclusive round table conference tailored for Attorneys and Solicitors general is also included in the conference.
• It aims to develop a comprehensive roadmap to address the challenges in legal education and transnational justice delivery.

Uttarakhand Cabinet clears Uniform Civil Code bill, to be tabled in Assembly

• The government-appointed panel to draft the Uniform Civil Code (UCC) handed over an important document to Uttarakhand Chief Minister Pushkar Singh Dhami.
• The draft will be examined, studied, and discussed before presenting it in the Assembly.
• From February 5-8, a four-day special session of the Assembly has already been called to pass the law on UCC.
• This draft, consisting of four volumes comprising 740 pages, has been submitted to Dhami.
• The five-member committee was headed by retired Supreme Court judge Ranjana Prakash Desai.
• Along with Desai, other members of the panel include retired chief justice of Sikkim High Court Pramod Kohli, social activist Manu Gaur, former Uttarakhand chief secretary Shatrughan Singh, and Vice Chancellor of Doon University Surekha Dangwal.
• On 3 January, a meeting of the state cabinet has also been called to discuss the draft.
• The UCC will provide a legal framework for uniform marriage, divorce, land, property, and inheritance laws for all citizens in the state, regardless of their religion.
• Upon its implementation, Uttarakhand will become the first state in the country to adopt UCC after independence.
• It has been in operation in Goa since the days of Portuguese rule.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Commissions First Survey Vessel Large Ship, INS Sandhayak in Visakhapatnam

• Indian Naval Ship (INS) Sandhayak (Yard 3025), the first Survey Vessel Large (SVL) ship, was commissioned into the Indian Navy in the presence of Raksha Mantri Shri Rajnath Singh at an impressive ceremony held at the Naval Dockyard,
• Primary Role: The primary role of INS Sandhayak is to conduct comprehensive hydrographic surveys of ports, harbours, navigational channels/routes, coastal areas, and deep seas to ensure safe marine navigation.
• Secondary Role: Additionally, the ship is capable of undertaking various naval operations as part of its secondary role.

Key Highlights :

• Manufacturer: INS Sandhayak is fully designed and built by the Garden Reach Shipbuilders and Engineers (GRSE).
• Series of Ships: It is the first vessel in a series of four Survey Vessels (Large), or SVLs, being constructed by GRSE for the Indian Navy.
• Reincarnation: This ship bears the same name as its predecessor, which was a survey vessel commissioned in 1981 and decommissioned in 2021.
• Specifications: INS Sandhayak is a 110-meter-long ship powered by two marine diesel engines and fixed-pitch propellers.
• Indigenous Content: The ship boasts an indigenous content of over 80% by cost, reflecting collaborative efforts between the Indian Navy, industry partners, and MSMEs (Micro, Small, and Medium Enterprises).
• Project Details: The SVL Project, comprising four ships including INS Sandhayak, is under construction at Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, under the supervision of the Indian Navy's Warship Design Bureau.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Insurance Regulatory and Development Authority of India Approves Bandhan Financial's Acquisition of Aegon Life

• Bandhan Financial Holdings, the holding company of Bandhan Bank, is set to take control of Aegon Life Insurance.
• The Insurance Regulatory & Development Authority (IRDAI) has granted final approval for the acquisition, which was received earlier.
• Completion of Regulatory Approvals: With Irdai's approval, all regulatory requirements for the proposed acquisition are now fulfilled.
• Bandhan Bank had previously obtained approval from the Reserve Bank of India (RBI) four weeks ago.

About Aegon Life Insurance Company :

• Aegon Life Insurance Company is an Indian life insurance company, founded in 2008 with headquarters in Mumbai, India, offering individual and group insurance online and offline.
• Aegon Life is a joint venture between Aegon NV and BCCL, which is the owner and publisher of The Economic Times.

About Bandhan Financial Holding :

• MD : Karni Singh Arha

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

ISRO to Send India’s female robot Astronaut 'Vyommitra' to Space Ahead of Gaganyaan Mission

• The woman robot astronaut, named "Vyommitra," is scheduled to fly into space ahead of the Indian Space Research Organisation’s (ISRO's) "Gaganyaan" mission, which aims to be India’s first human manned space flight carrying Indian astronauts.
• The uncrewed "Vyommitra" mission is planned for the third quarter of the current year, while the manned "Gaganyaan" mission is scheduled for launch in 2025.

About Vyom Mitra :

• Meaning of Vyommitra : The name "Vyommitra" is derived from the Sanskrit words "Vyoma" (meaning Space) and "Mitra" (meaning Friend).
• Capabilities of Vyommitra: The female robot astronaut can monitor module parameters, issue alerts and execute life-support operations, adding that it can perform tasks such as operating six panels and responding to queries.
• Test Vehicle Flight TV D1 : As a run-up to the launch of India's first-ever manned space flight named 'Gaganyaan', the first Test Vehicle Flight TV D1 was accomplished on October 21,2023 which was meant to qualify the crew escape system and parachute system.
• Objective of Gaganyaan Project : The Gaganyaan project envisages demonstration of human space capabilities by launching a crew of astronauts into an orbit of 400 Kilometres and then bringing back these human astronauts safely to earth by landing them in India's sea waters.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Karnataka Government Announces 'Digital Detox' Initiative To Encourage Mindful Use Of Social Media

• The Karnataka government announced to launch a 'Digital Detox' initiative in partnership with the All India Game Developers Forum (AIGDF).
• The initiative aims to raise awareness about the dangers of spending excessive time in the digital world.
• Digital Detox initiative encourages people to cut back on using digital devices like smartphones, computers, tablets, and social media platforms through structured programs or campaigns.
• It also aims to establish an environment of responsible gaming.
• Offline and online Digital Detox Centres will be established across Karnataka through this initiative.
• These centres will offer personalized guidance.
• Minister for IT&BT Priyank Kharge said this initiative is another step to fulfil the government's commitment of building a digitally empowered Karnataka through responsible use of technology.
• The Minister observed that the outcomes of digital dependence are mental health issues, shrinking attention spans and fraying real-world relationships.
• The Government of Karnataka, AIGDF and the National Institute of Mental Health and Neuro Sciences (NIMHANS) will work together to raise awareness about mindful technology.

CURRENT AFFAIRS: RANKING AND INDEX

WHO Survey Determines Increased Cancer Burden Over Next 25 Years

• World Health Organization (WHO)’s cancer agency, the International Agency for Research on Cancer (IARC), released the latest estimates of the global burden of cancer.
• WHO also published survey results from 115 countries, showing a majority of countries do not adequately finance priority cancer and palliative care services, as part of universal health coverage (UHC).
• The IARC estimates, based on the best sources of data available in countries in 2022, highlight the growing burden of cancer.

Key Highlights

• In 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths.
• The estimated number of people who were alive within 5 years following a cancer diagnosis was 53.5 million.
• About 1 in 5 people develop cancer in their lifetime, approximately 1 in 9 men and 1 in 12 women die from the disease.
• The global WHO survey on UHC and cancer shows that only 39% of participating countries covered the basics of cancer management as part of their financed core health services for all citizens, ‘health benefit packages’ (HBP).
• Lung cancer was the most commonly occurring cancer worldwide with 2.5 million new cases accounting for 12.4% of the total new cases.
• Female breast cancer ranked second (2.3 million cases, 11.6%), followed by colorectal cancer (1.9 million cases, 9.6%), prostate cancer (1.5 million cases, 7.3%), and stomach cancer (970,000 cases, 4.9%).
• Over 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20 million cases in 2022.
• The rapidly growing global cancer burden reflects both population ageing and growth, as well as changes to people’s exposure to risk factors, several of which are associated with socioeconomic development.
• In terms of the absolute burden, high HDI countries are expected to experience the greatest absolute increase in incidence, with an additional 4.8 million new cases predicted in 2050 compared with 2022 estimates.
• 1,413,316 new cancer cases have been reported in India in 2022. Out of this, 691,178 are men and 722,138 are women.
• Breast cancer had the highest number (192,020) of new cases in India. It accounts for 13.6 per cent of all patients.
• 7 million people have died around the world due to cancer in 2022. 916,827 cancer deaths were reported in India alone in 2022.
• Globally, India accounted for 40 per cent of deaths that occurred due to cervical cancer.

CURRENT AFFAIRS: SPORTS NEWS

Abhinav Bindra selected as torchbearer for the 2024 Paris Olympics

• Abhinav Bindra has been selected as torchbearer for the 2024 Paris Olympics.
• Abhinav Bindra will be part of the Olympic torch relay to be held from April 16 to July 26.
• The inaugural lighting of the torch for the Paris 2024 Olympic Torch Relay is scheduled for April 16, adhering to the ancient tradition, of utilizing the sun’s rays, during a ceremony at the Olympia sanctuary in Greece.
• The torch relay is set to last 68 days, covering 65 territories, including five overseas territories.
• He is a member of the Athletes Commission of the International Olympic Committee (IOC).
• Abhinav Bindra is the first Indian to win a gold medal at the Olympic Games at the individual level.
• He won the gold medal in the men's 10m air rifle event at the Beijing Olympic Games in 2008.
• The Paris Olympics is scheduled to take place from July 26 to August 11.

Daily CA One- Liner: 7 February

• Sports Minister Anurag Thakur inaugurated the first-ever BIMSTEC Aquatic Championship in New Delhi.
• Union Culture Minister, G Kishan Reddy laid the foundation stone for the country's first digital National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
• The Prime Minister, Shri Narendra Modi inaugurated and laid the foundation stone for development projects worth over Rs 1330 crores in Viksit Bharat, Viksit Goa 2047 program in Goa.
• The Prime Minister, Shri Narendra Modi inaugurated India Energy Week 2024 in Goa.
• Union Minister of Road Transport & Highways, Shri Nitin Gadkari has approved a fund of Rs. 2,248.94 crore for the construction of the Lada-Sarli section of NH-913 (Frontier Highway) in Arunachal Pradesh on EPC mode, spanning 105.59 km across Packages 1, 2, 3, & 6
• Prime Minister Shri Narendra Modi inaugurated the Commonwealth Legal Education Association (CLEA) - Commonwealth Attorneys and Solicitors General Conference in New Delhi
• The government-appointed panel to draft the Uniform Civil Code (UCC) handed over an important document to Uttarakhand Chief Minister Pushkar Singh Dhami.
• The Karnataka government announced to launch a 'Digital Detox' initiative in partnership with the All India Game Developers Forum (AIGDF).
• World Health Organization (WHO)’s cancer agency, the International Agency for Research on Cancer (IARC), released the latest estimates of the global burden of cancer.
• Abhinav Bindra has been selected as torchbearer for the 2024 Paris Olympics.
• State Bank of India (SBI) reported a drop in net profit for the first time in 12 quarters, with its third quarter (Q3FY24) standalone net profit declining 35.5 percent year-on-year (yoy) to ₹9,164 crore as it absorbed one-time provisions relating to increase in pension liabilities and dearness relief neutralisation.
• The Reserve Bank of India (RBI) issued a crucial directive (RBI/2023-24/117) on January 31, 2024 with an aim to bring about a significant transformation in the internal compliance monitoring function across various financial institutions.
• The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 lakh on Bajaj Housing Finance for non-compliance with certain regulatory provisions.
• The Reserve Bank of India (RBI) announced that 97.50% of the ₹2,000 banknotes in circulation as of May 19, 2023, have been returned as of January 31, 2024.
• The National Bank for Agriculture and Rural Development (NABARD) projected a robust double-digit growth in priority sector lending potential of ₹3.15 lakh crore in West Bengal for 2024-25.
• Indian Naval Ship (INS) Sandhayak (Yard 3025), the first Survey Vessel Large (SVL) ship, was commissioned into the Indian Navy in the presence of Raksha Mantri Shri Rajnath Singh at an impressive ceremony held at the Naval Dockyard,
• Bandhan Financial Holdings, the holding company of Bandhan Bank, is set to take control of Aegon Life Insurance.
• The woman robot astronaut, named "Vyommitra," is scheduled to fly into space ahead of Indian Space Research Organisation’s (ISRO's) "Gaganyaan" mission, which aims to be India’s first human manned space flight carrying Indian astronauts.