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CURRENT AFFAIRS : BANKING & FINANCE

Life Insurance Corporation Unveils New Insurance-Cum-Savings Plan: LIC Index Plus Policy

• Life Insurance Corporation of India (LIC) announced the launch of its new unit linked life insurance product, LIC Index Plus.
• LIC’s Index fund is a unit linked, non-participating, individual life insurance plan.

Key features of LIC Index Plus policy :

• Minimum age at entry: 90 days (completed).
• Maximum age at entry: 50 or 60 years (nearer birthday) depending on the basic Sum Assured.
• Basic sum assured: 7 to 10 times of Annualized premium for age at entry 90 days (completed) to 50 years (nearer birthday) and 7 times of Annualized premium for age at entry 51 years to 60 years (nearer birthday)
• Minimum age at maturity: 18 years (completed)
• Maximum age at maturity: 75 or 85 years (nearer birthday) depending on the basic sum assured
• Minimum policy term: 10 or 15 years depending on Annualized premium and Maximum Term is 25 years. The premium paying term is the same as the policy term.
• Minimum premium: Range from ₹30000/-(Yearly), ₹15000/-(Half- yearly), ₹7500/-( Quarterly), and ₹2500/- Monthly (NACH) depending upon the Mode/Premium payment frequency.
• Maximum premium: No limit subject to underwriting decision.
• Partial withdrawals: Available subject to conditions.
• On Life Assured surviving the Date of maturity, an amount equal to Unit fund Value as of the date of maturity shall be payable.
• The amount payable on the death of Life assured differs depending upon whether the death of the life assured is before the date of commencement of risk or after the date of commencement of risk.
• Refunds of mortality charges are subject to terms and conditions.
• There is an option of availing LIC’s Linked Accidental Death benefit rider.
• There is an option to partially withdraw the units at any time after the 5 years lock-in period subject to conditions.

Recent News :

• In Dec 2023, Life Insurance Corporation of India (LIC) introduced a novel plan called LIC’s Jeevan Utsav, a non-linked and non-participating, offering extensive life insurance coverage throughout one’s lifetime.
• In January,2024 LIC had launched a new non-linked, non-participating individual savings deferred annuity product- Jeevan Dhara-II available from January 22, 2024.

About LIC:

• Established: 1st September 1956
• Headquarters: Mumbai, India
• Chairperson : Siddharth Mohanty

Government Allocates Rs 9,000 Crore to Exim Bank Amid Rising NPAs from Loans Extended to Foreign Countries

• Loans extended through Exim Bank of India to certain countries, particularly African nations, have been classified as "doubtful debt" in the financial year 2023-24.
• The Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to Exim Bank after invoking Government of India (GoI) guarantees on these loans.
• This indicates the involvement of the Indian government in backing these loans.

Key Highlights :

• Non-Performing Assets (NPAs): Some decade-plus old loans extended to African countries have turned into NPAs, leading to the invocation of government guarantees by Exim Bank.
• Lines of Credit (LOCs): These are extended to other countries, including African nations, as part of India's foreign aid and economic cooperation efforts.
• They have been classified as doubtful, but not written off.
• MEA's Financial Support : The MEA has provided a further Rs 4,383.40 crore in 2024-25 towards payment to Exim Bank towards guarantees that may be invoked against doubtful debts, indicating more such loans to countries might get classified as NPAs in the coming years.
• Evolution of LOCs : For about four decades, the Department of Economic Affairs had been extending Lines of Credit (LOCs) to “friendly developing foreign countries” on behalf of the government.
• Government-to-Government (G-to-G) Credit Lines: These LOCs were ‘Government-to-Government’ credit lines as the agreements were signed between the Indian government and the government of the recipient country.
• Transition to Exim Bank: Since 2003-04, the system of extending LOCs has been substituted by GoI-supported LOCs through Exim Bank of India. This implies a shift in the mechanism of extending credit to other countries.

About Ministry of External Affairs :

• Cabinet Minister : Subrahmanyam Jaishankar
• Minister of State : V. Muraleedharan, Rajkumar Ranjan Singh, Meenakshi Lekhi

About Exim Bank :

• Established : 1982
• Headquarters : Mumbai, Maharashtra
• Managing Director : Harsha Bangari

Finance Ministry Introduces 'Direct Listing of Indian Companies' Equity Shares on International Exchanges Scheme' through Amendment to Foreign Exchange Management Rules

• The Finance Ministry amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, to introduce the 'Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme'.

Key Highlights :

• Investor Approval: Investors from countries such as China will require government approval to participate in the direct listing of equity by Indian entities on international stock exchanges.
• Initial Jurisdiction and Exchanges: The scheme starts with GIFT IFSC as the permissible jurisdiction and NSE International Exchange India International Exchange as the international exchanges.
• Corporate Affairs Ministry's Rules: Simultaneously, the Corporate Affairs Ministry issued the Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024.
• Permissible Holder Definition: Changes in rules governing FEMA define a permissible holder as an individual or entity holding equity shares of the company listed on international exchanges, including its beneficial owner. However, approval from the Central Government is necessary for holders from countries sharing a land border with India.
• Equity Share Issuance: The amendments allow public Indian companies to issue equity shares on international exchanges or permit existing shareholders to offer equity shares.
• Restrictions on Share Offerings: Public Indian companies, their promoters, promoter group, or directors, and selling shareholders debarred from accessing the capital market cannot offer shares
• Pricing Formulae : The notification also talked about pricing formulae. In the case of a listed entity, shares shall be issued at a price, not less than the price applicable to a corresponding mode of issuance of such equity shares to domestic investors.
• In case of unlisted one, price will be determined by a book-building process and shall not be less than the fair market value under applicable rules or regulations under the FEMA 1999.

CURRENT AFFAIRS: NATIONAL NEWS

Microsoft plans to train more than 2 million individuals in India with generative AI skills by the year 2025:

• Chairman and CEO of Microsoft Satya Nadella has announced that the company will train over 2 million people in India in generative Artificial Intelligence skills by 2025.
• At an event organised by the company in Mumbai, Mr Nadella talked about the cooperation between the United States and India on AI.
• The Indian-origin Microsoft chief said that AI can help boost GDP growth in the country.
• He also called India one of the highest-growth markets.
• Speaking about AI, Mr Nadella, it is a powerful new technology that needs to be diffused fast to every corner of the world.

Shri Dharmendra Pradhan has launched the EdCIL Vidyanjali Scholarship Programme in New Delhi.

• Minister of Education, Skill Development, and Entrepreneurship Dharmendra Pradhan launched the EdCIL Vidyanjali Scholarship Programme in New Delhi.
• Addressing the event, Mr. Pradhan, as envisioned in the New Education Policy 2020, the Vidyanjali Scholarship Program symbolises a whole-of-society approach to empowerment through access and educational opportunities.
• This scholarship will benefit students belonging to economically disadvantaged sections.
• The Minister said that Nation-building is a collective effort of all citizens.
• Appreciating the efforts of Jawahar Navodaya Vidyalaya students, Mr. Pradhan said that nearly 14 thousand students have succeeded in getting admission to reputed institutes including IITs and NITs, without joining any coaching centres.
• He also added that 70 students are being bestowed upon the scholarship amounting to five crore rupees.
• Secretary of Higher Education in the Ministry K. Sanjay Murthy and other dignitaries were also present at the event.

The 2024 theme for National Science Day, unveiled by Union Minister Dr. Jitendra Singh, is "Indigenous Technologies for Viksit Bharat."

• Union Minister of Science and Technology Dr Jitendra Singh today released the theme for the "National Science Day 2024", titled "Indigenous Technologies for Viksit Bharat" in New Delhi.
• The theme reflects a strategic focus on promoting public appreciation for Science, Technology and Innovation and accomplishments of Indian scientists to address challenges through home-grown technologies for over-all well-being.
• The National Science Day is celebrated every year on 28 February to commemorate the discovery of the ‘Raman Effect’.
• The Government designated 28th February as National Science Day in 1986.
• On this day, Sir C.V. Raman announced the discovery of the 'Raman Effect' for which he was awarded the Nobel Prize in 1930.
• On this occasion, theme-based science communication activities are carried out all over the country.
• The theme launch will trigger celebrations of National Science Day specially in schools and colleges throughout the country.

Government allocates Rs 455 crore for green hydrogen pilot projects in steel sector

• The government has allocated Rs 455 crore of Central Financial Assistance till financial year 2029-30 (FY30) for the usage of green hydrogen in the steel industry sector.
• The Ministry of New and Renewable Energy released scheme guidelines for implementations of pilot projects for use of green hydrogen in the sector under the National Green Hydrogen Mission.
• The scheme aims to facilitate the use of 100 per cent hydrogen in Direct Reduced Ironmaking process, use of hydrogen in Blast Furnace, Substitution of fossil fuels with green hydrogen in a gradual manner in DRI process, and any other pilots facilitating decarbonisation in iron and steel production.
• The expenditure on this scheme will be met from the budget provisions made under the National Green Hydrogen Mission Head.
• The implementing agency will be nominated by the Steel Ministry.
• The National Green Hydrogen Mission was launched with an outlay of Rs. 19,744 crores up to FY 2029-30.
• It will contribute to India’s goal to become Aatmanirbhar (self-reliant) through clean energy and serve as an inspiration for the global Clean Energy Transition.

IRMA, NCDEX launch centre in Gujarat to promote commodity derivatives market

• The National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA) launched a centre of excellence in Anand, Gujarat, for growth of the commodity derivatives market.
• Named as Tribhuvandas Patel Centre of Excellence for Commodity Markets, it will help develop the commodities derivatives ecosystem, providing support in the areas of research, policy formation, policy advocacy, capacity building, thought leadership.
• While IRMA will spearhead efforts to enhance the scope of commodity markets through rigorous research and analysis, NCDEX will provide technical support and data-related assistance.
• A national workshop on strategizing the establishment of Cooperative Economic Zones (CEZs) in India was jointly organized by IRMA, NCDEX- Investor Protection Fund Trust (IPFT) and the World Cooperation Economic Forum (WCopEF).
• Dileep Sanghani, Chairman of World Cooperation Economic Forum as well as IFFCO and NCUI, NCDEX MD & CEO Arun Raste, Umakant Dash, Director, IRMA.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Shri Ajay Bhatt secures key defence agreement during visit to Riyadh.

• Minister of State for Defence, Ajay Bhatt, is currently on a five-day visit to Riyadh from February 4th for the World Defence Show 2024.
• The visit has yielded a significant milestone with the signing of a Memorandum of Understanding between Munitions India Limited and a local partner, underscoring the deepening collaboration between India and Saudi Arabia in the field of defence.
• The MoU, signed on the sidelines of the event, signifies a mutual commitment to enhancing defence cooperation, technology transfer, and joint production efforts.

Key Highlights

• Minister Bhatt hailed the agreement as a testament to the growing partnership between the two nations.
• During this visit to Riyadh, Mr Bhatt actively engaged in discussions with key Saudi officials, highlighting the importance of bolstering bilateral defence ties.
• Among those he met was Defence Minister Khalid bin Salman bin Abdulaziz Al-Saud, where they discussed avenues for collaboration aimed at enhancing regional security.
• Both sides emphasized the significance of joint training exercises and the exchange of expertise in strengthening defence capabilities. Additionally, Minister Bhatt held talks with the Assistant Minister of Defence of Saudi Arabia, Dr. Khaled Al-Bayari, focusing on further enhancing the long-standing defence cooperation between the two nations.
• The discussions centered around exploring various areas of mutual interest, including increasing joint training exercises, technology transfer, and the exchange of expertise.
• These conversations are crucial in solidifying the foundation for defence cooperation between India and Saudi Arabia. Mr Bhatt also had a productive discussion with Ahmad Al-Ohali, Governor of the General Authority for Military Industries (GAMI), on the sidelines of the World Defence Show in Riyadh.
• These engagements aim to strengthen the collaborative efforts between India and Saudi Arabia in defence, paving the way for enhanced regional security and cooperation.

CURRENT AFFAIRS : STATE NEWS

Chhattisgarh BJP Government to Introduce Mahatari Vandan Yojana, a Monthly Cash Assistance Scheme - Mahatari Vandan Yojana for Married Women

• The Bharatiya Janata Party (BJP) government in Chhattisgarh will roll out the Mahatari Vandan Yojana - a monthly cash assistance scheme for married women - from March 1.
• Aim : To eliminate discrimination against women and improve their health and nutrition levels, while also promoting women empowerment and economic self-reliance.

Key Highlights :

• Benefit Amount: Eligible beneficiaries will receive ₹12,000 per year, transferred to their bank accounts in monthly instalments of ₹1,000 under the scheme.
• Eligibility Criteria : Any female resident of Chhattisgarh who is married and above 21 years of age as of January 1, 2024, is eligible for the benefits.
• Widowed, divorced, and abandoned women are also eligible.
• Women receiving less than ₹1,000 per month from other pension schemes will be eligible for additional funds to reach a maximum of ₹1,000 per month.

Other Decisions by the Government :

• The government also decided to hike tendu leaf collection remuneration given to people collecting them to Rs 5,500 per standard sacks from existing Rs 4,000.
• Tendu leaves are used as a wrapper for beedis.
• The decisions were taken during the cabinet meeting chaired by Chief Minister Vishnu Deo Sai.
• Fulfilling another “guarantee” (BJP’s poll promise) of Prime Minister Narendra Modi, the cabinet has decided to launch ‘Mahtari Vandan Yojana’ in the state.
• The government has decided to implement Bharat (BH) series vehicle registration in Chhattisgarh.
• Under the BH series, two and four wheelers will have to pay tax for two years at one go

About Chhattisgarh :

• Governor : Biswabhusan Harichandan
• Chief Minister : Vishnu Deo Sai
• National Park : Indravati (Kutru) National Park, Kanger Valley National Park
• Wildlife Sanctuary : Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary

Bihar State Disaster Management Authority Introduces Device Named After CM to Alert Farmers and Public on Various Natural Disasters

• Bihar State Disaster Management Authority has launched a device named after the Chief Minister (CM) to alert farmers and common people about natural disasters like lightning, floods, heatwaves, and cold waves.
• The initiative, termed "Novel Initiative Technological Intervention for Safety of Human Lives (NITISH)," is a collaborative effort between the disaster management authority and the Indian Institute of Technology (IIT), Patna.

Key Highlights :

• Description of Device: The NITISH device is pendant-shaped and provides voice message alerts for lightning, floods, heatwaves, and cold waves. It is synchronized with the Bihar meteorological service center.
• Alert Mechanism: Users will receive alerts through voice messages half an hour before occurrences of lightning or flooding, enhancing preparedness and response capabilities.
• Comparison with Existing App: While there is an existing app called Indravraj for similar alerts, the NITISH device offers additional support and complements the app by providing alerts in a different format. The app has been effective in reducing casualties caused by lightning and thunderstorms.

About Bihar :

• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Yemen Names Ahmed Awad bin Mubarak as New Prime Minister

• Yemen's Presidential Leadership Council appointed its foreign minister Ahmed Awad bin Mubarak as the country's new prime minister.
• He replaced Maeen Abdulmalik Saeed, who was Yemen’s premier since 2018.
• Outgoing PM Maeen Abdulmalik Saeed will take on the role of an advisor to the Chairman of the Presidential Leadership Council

About Ahmed Awad bin Mubarak :

• Ahmed Awad bin Mubarak has served as the former Yemeni ambassador to the United States (US).
• He is widely viewed as a fierce opponent of the Houthi rebels.
• In March 2013, Bin Mubarak was elected as the secretary general of the national reconciliation dialogue conference.
• In 2015 amid a power struggle with then-President Abd-Rabbu Mansour Hadi, he was abducted by the Houthis while serving as Yemen's presidential chief of staff.

About Yemen :

• Capital : Sanaa
• Currency : Yemeni rial

LIC Mutual Fund Asset Management Appoints Ravi Kumar Jha as MD & CEO

• LIC Mutual Fund Asset Management announced the appointment of Ravi Kumar Jha as its Management Director (MD) and Chief Executive Officer (CEO) .
• Jha, with a distinguished career and prior association with LIC, comes with a track record of over 30 years in handling diverse positions and he was serving as Executive Director - Corporate Strategy till December 2023.
• His previous roles include Executive Director Corporate Strategy – LIC Mutual Fund Asset Management and various positions at LIC of India.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IIT-Madras Partners with Munitions India for Development of India’s First Indigenous 155mm Smart Ammunition

• Indian Institute of Technology Madras (IIT Madras)has partnered with Munitions India Limited, a Defence Public Sector Enterprise, to develop India’s first indigenously-designed 155 Smart Ammunition to achieve indigenisation in the defence sector.

Objective :

• To increase the accuracy of the 155 mm shell within a Circular Error Probable (CEP) of 10 m.
• At present, ammunition developed in India has a CEP of 500 m. Another goal is to increase the lethality at the terminal impact point.

Key features :

• The project aims to develop a fin-stabilised, canard-controlled guided artillery shell with a minimum range of 8 km and a maximum range of 38 km.
• It can be fired from 39 and 45 calibre howitzers without any modifications to the gun.
• Munitions India is the country biggest manufacturer and market leader engaged in the production, testing, research and development and marketing of a comprehensive range of ammunition and explosives for the Army, Navy, Air force and Paramilitary Forces
• In 2019, the Indian army inducted the Excalibur, an American GPS-guided shell, with a range of 40 km, and placed additional orders in 2020 following the Galwan clash.

Recent News :

• In Jan 2024, The world’s largest steel producer ArcelorMittal partnered with the Indian Institute of Technology (IIT), Madras to build Asia’s first Hyperloop testing facility at Chennai.

About Munitions India Limited :

• Established : 2021
• Headquarters : Pune, Maharashtra
• Chairman & Managing Director : Ravi Kant

CURRENT AFFAIRS: RANKING AND INDEX

India has been ranked at the 38th position out of 139 countries in the Logistics Performance Index Report 2023: World Bank.

• According to the World Bank's 'Logistics Performance Index Report (2023): Connecting to Compete 2023', India ranks 38 out of 139 countries.
• India’s rank has improved by six places from 44 in 2018 and sixteen places from 54 in 2014.
• An Inter-Ministerial dedicated team comprising of Stakeholder Ministries/Departments has been formed.
• These stakeholder Ministries/Departments focus on targeted action plans with interventions needed to improve logistics performance across all six LPI parameterse. Customs, Infrastructure, Ease of arranging shipments, Quality of logistics services, Tracking and Tracing, and Timeliness.
• In addition, the National Committee for Trade Facilitation (NCTF) has a three-tiered structure, constituting of a National Committee on Trade Facilitation, a Steering Committee, and Focused Working Groups (Outreach, Legislative Issues, Time Release Study, Infrastructure Up-gradation, PGA regulation and procedure).
• Concerning NTFAP 2020-23, 27 action points have been identified under the working group on infrastructure up gradation.

Key Highlights

• The LPI was reported by the World Bank every two years from 2010 to 2018 with a break in 2020 due to the COVID-19 pandemic and a restructuring of the index methodology, eventually came out in 2023.
• LPI 2023 allows for comparison across 139 countries and for the first time, LPI 2023 measures the speed of trade with indicators derived from big datasets tracking shipments.

Policy Interventions

• The Hon’ble Prime Minister launched the PM GatiShakti National Master Plan for multimodal connectivity on 13 October 2021 and National Logistics Policy on 17th Sept. 2022, for improving logistics efficiency and reducing logistics costs. Digital reforms such as Unified Logistics Interface Platform (ULIP) for ease of doing business and Logistics Data Bank which has digitized track and trace of 100% containerized EXIM cargo, are presently operational. In addition, the line Ministries are taking various measures, which include:
• Expansion of electrification of railway tracks by MoR;
• The land Ports Authority of India (LPAI) has reduced the average intervention;
• NLP Marine, which is a single window interface platform for port-related logistics operations, has been launched by MoPSW. In addition, the automation of weighbridges is being undertaken; to name a few key initiatives.

India is set to be the fastest-growing source of oil demand in the world through 2030, according to IEA

• India will become the largest source of global oil demand growth between now and 2030, while growth in developed economies and China initially slows and then subsequently goes into reverse in our outlook, the latest report ‘Indian Oil Market Outlook to 2030’ released at the second edition of India Energy Week 2024 in Goa by International Energy Agency (IEA).
• It further added that India’s role in global oil markets is expected to expand substantially over the remainder of the decade, fuelled by strong growth in its economy, population and demographics.
• According to the report, Urbanisation, industrialisation, the emergence of a wealthier middle-class keen for mobility and tourism, plus efforts to achieve greater access to clean cooking, will underpin the expansion in oil demand.
• Consequently, India is on track to post an increase of almost 1.2 mb/d, accounting for more than one-third of the projected 3.2 mb/d global gains, to reach 6.6 mb/d by 2030.
• Further the report found that massive industrial expansion means that diesel/gasoil is the single largest source of oil demand growth, accounting for almost half of the rise in the nation’s demand and more than one-sixth of total global oil demand growth through to 2030.

India Energy Week Background

• India Energy Week 2024 is being held from 6 – 9 February,2024 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.

Mukesh Ambani Highest Placed Indian, No.2 Globally In Brand Guardianship Index 2024

• Mukesh Ambani has secured the top position among Indians and second globally in the Brand Guardianship Index 2024.
• Mukesh Ambani with a score of 80.3 is ahead of Microsoft’s Satya Nadella, Sundar Pichai of Google, Apple's Tim Cook, and Tesla's Elon Musk.
• Huateng Ma of China-based Tencent with a BGI score of 81.6 has secured the top position in the ranking.

Key Highlights

• The 2024 survey highlighted Ambani's leadership in the 'Diversified' conglomerates.
• N Chandrasekaran, chairman of Tata Sons climbed from eighth to fifth place in the 2023 ranking.
• Anish Shah of Mahindra & Mahindra secured the sixth position while Salil Parekh of Infosys secured the 16th position.
• This year's analysis reveals that ESG has become the single most important driving force in determining CEO reputation.
• The Brand Guardianship Index recognises CEOs who effectively build business value while considering the interests of all stakeholders.
• Brand Guardianship Index includes 'Perception' factors, which reflect current perceptions, 'Performance' factors, which reflect the tangible results of these perceptions, and 'Promotion' factors, which support future perceptions and performance.
• Recently, Jio - a relatively new brand - was recognized as the strongest brand from India, in the latest report 'Global 500 - 2024' published by Brand Finance, ahead of multi-decade-old Indian brands like LIC and SBI.

CURRENT AFFAIRS: SPORTS NEWS

2026 FIFA World Cup final to be played in New Jersey

• The 2026 World Cup final will be played at MetLife Stadium in New Jersey, U.S., on July 19.
• FIFA announced a Miami television studio, allocating the opener of the 39-day tournament spread across three North American nations to Mexico City’s Estadio Azteca on June 11 and the finale to the home of the NFL's New York Jets and Giants.
• Seventy-eight of 104 matches of the first World Cup held in three nations will be played in the U.S., with 13 games each in Mexico and Canada.
• FIFA expanded the World Cup from 32 to 48 nations, increased matches from 64 and announced the 16 sites in 2022.

Daily CA One- Liner: February 8

• Life Insurance Corporation of India (LIC) announced the launch of its new unit-linked life insurance product, LIC Index Plus.
• Loans extended through Exim Bank of India to certain countries, particularly African nations, have been classified as "doubtful debt" in the financial year 2023-24.
• The Finance Ministry amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, to introduce the 'Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme'.
• The Bharatiya Janata Party (BJP) government in Chhattisgarh will roll out the Mahatari Vandan Yojana - a monthly cash assistance scheme for married women - from March 1.
• Bihar State Disaster Management Authority has launched a device named after the Chief Minister (CM) to alert farmers and common people about natural disasters like lightning, floods, heatwaves, and cold waves.
• Yemen's Presidential Leadership Council appointed its foreign minister Ahmed Awad bin Mubarak as the country's new prime minister.
• LIC Mutual Fund Asset Management announced the appointment of Ravi Kumar Jha as its Management Director (MD) and Chief Executive Officer (CEO) .
• Indian Institute of Technology Madras (IIT Madras)has partnered with Munitions India Limited, a Defence Public Sector Enterprise, to develop India’s first indigenously-designed 155 Smart Ammunition to achieve indigenisation in the defence sector.
• Chairman and CEO of Microsoft Satya Nadella has announced that the company will train over 2 million people in India in generative Artificial Intelligence skills by 2025
• Minister of Education, Skill Development, and Entrepreneurship Dharmendra Pradhan launched the EdCIL Vidyanjali Scholarship Programme in New Delhi
• Union Minister of Science and Technology Dr Jitendra Singh today released the theme for the "National Science Day 2024", titled "Indigenous Technologies for Viksit Bharat" in New Delhi
• The government has allocated Rs 455 crore of Central Financial Assistance till the financial year 2029-30 (FY30) for the usage of green hydrogen in the steel industry sector
• The National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA) launched a centre of excellence in Anand, Gujarat, for the growth of the commodity derivatives market.
• Minister of State for Defence, Ajay Bhatt, is currently on a five-day visit to Riyadh from February 4th for the World Defence Show 2024.
• According to the World Bank's 'Logistics Performance Index Report (2023): Connecting to Compete 2023', India ranks 38 out of 139 countries.
• India will become the largest source of global oil demand growth between now and 2030, while growth in developed economies and China initially slows and then subsequently goes into reverse in our outlook, the latest report ‘Indian Oil Market Outlook to 2030’ released at the second edition of India Energy Week 2024 in Goa by International Energy Agency
• Mukesh Ambani has secured the top position among Indians and second globally in the Brand Guardianship Index 2024.
• The 2026 World Cup final will be played at MetLife Stadium in New Jersey, U.S., on July 19