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CURRENT AFFAIRS : BANKING & FINANCE

Indian Highways Management Company Limited excludes Paytm Payments Bank from the list of authorized banks for issuing FASTags                        

• Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI, has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel.
• The 32 authorised banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.

Key Highlights :

• India has over 8 crore FASTag users and Paytm Payments Bank (PPBL) has around 30 per cent market share.
• Earlier, IHMCL in a letter dated January 19, 2024 had barred Paytm Payments Bank from issuing fresh FASTags.
• On January 31,2024 the Reserve Bank directed PPBL to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29.
• However, any interest, cashbacks, or refunds may be credited back to customers anytime.
• IHMCL is encouraging FASTag users to complete the 'Know Your Customer' (KYC) process of their latest FASTag as per RBI guidelines.
• With a penetration rate of around 98 per cent and over 8 crore users, FASTags, based on radio frequency identification (RFID) technology, allow users to pay highway toll charges directly from the linked bank accounts.

What is FASTag? 

• FASTag is an electronic toll collection system in India operated by the National Highways Authority of India (NHAI).
• It employs Radio Frequency Identification (RFID) technology for allowing toll payments directly from the linked bank accounts.
• A FASTag is valid for 5 years, and can be recharged as required.

About IHMCL :

• Indian Highways Management Company Limited. (IHMCL), a company promoted by NHAI, is implementing the National Electronic Toll Collection Program (NETC) in the country under the brand name “FASTag” which was launched in April 2016.

Supreme Court Orders Immediate Halt to State Bank of India's Electoral Bond Issuance               

• The Supreme Court directed the State Bank of India (SBI) to stop issuing electoral bonds immediately.

What are Electoral bonds?

• Electoral bonds are interest-free bearer bonds or money instruments that can be purchased by companies and individuals in India from authorised branches of the State Bank of India (SBI).
• The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest.
• Purchase and denominations : These bonds are sold in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore.
• They can be purchased through a KYC-compliant account to make donations to a political party.
• Usage period : EBs have a life of only 15 days during which it can be used for making donations to political parties.
• Anonymity: The identity and details of the donor are not disclosed on the instrument, making electoral bonds anonymous.
• There is no cap on the number of electoral bonds that a person or company can purchase.
• Tax exemptions: Donations made through electoral bonds are considered tax-exempt under Section 80 GG and Section 80 GGB of the Income Tax Act.
• Eligibility for political parties: Only political parties registered under Section 29A of the Representation of the People Act, 1951, and those securing at least 1% of votes polled in the last general election to the House of the People or the Legislative Assembly of the State are eligible to receive electoral bonds.
• Encashment and disclosure: Political parties must encash electoral bonds within a stipulated time frame through a designated bank account with the authorized bank.
• The amount received through electoral bonds must be disclosed to the Election Commission.

Rupee Co-operative Bank Limited Excluded from Second Schedule of the Reserve Bank of India Act, 1934

• The Reserve Bank of India (RBI) has officially excluded "Rupee Co-operative Bank Limited" from the Second Schedule of the Reserve Bank of India Act, 1934.
• This exclusion was communicated by the RBI through an official notification issued for the purpose.
• Scheduled banks are those financial institutions that are listed under Schedule II of the Reserve Bank of India Act, 1934.

Electoral Bonds Amass a Total of ₹16,518 Crore Across 30 Tranches

• With the latest tranche last month, 30 tranches of electoral bonds issued so far have collected over ₹16,518 crore.

Key Highlights :

• Introduction and Purpose : The scheme, introduced in 2018, aims “to ensure clean tax-paid money is coming into the system of political funding through proper banking channels.”
• No Additional Charges : As per clause 10 of the Electoral Bond Scheme (Gazette Notification dated 02.01.2018), no commission, brokerage or any other charges for the issue of a bond shall be payable by the buyer against the purchase of the bond.
• The total value of Electoral Bonds purchased (Phase-I to Phase –XXX) from State Bank of India is about ₹16,518 crores.
• Eligibility to Purchase : These bonds may be purchased by a person who is a citizen of India or incorporated or established in India.
• Purchase Options : An individual can buy electoral bonds singly or jointly with others.
• Eligibility to Receive : Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than 1% of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds.
• Encashment Process : These will be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
• Availability and Validity : The bonds under the scheme shall be available for purchase for 10 days each in January, April, July and October, as may be specified by the Central Government.
• These bonds are valid for 15 calendar days from the date of issue, and no payment shall be made to any payee Political Party if the Electoral Bond is deposited after the expiry of the validity period.
• Additional Period During Elections : However, an additional 15 days will be given during the general election.
• These bonds deposited by an eligible Political Party in its account shall be credited on the same day.

LIC Introduces 'Amritbaal': A Traditional Savings Life Insurance Plan Tailored for Children                             

• The Life Insurance Corporation of India (LIC) has launched “Amritbaal”, an insurance plan for children.
• The new “non-linked, non-participating, individual, savings, life insurance” plan is specifically designed to have an adequate corpus to meet the higher education and other needs of a child.

Key Highlights :

• The minimum sum assured (SA) for this policy is ₹2 lakh and there is no maximum SA (subject to underwriting decision).
• This policy will facilitate the accumulation of corpus through guaranteed additions at the rate of ₹80 per thousand basic sum assured at the end of each policy year from the inception till the end of the policy term, provided the policy is in force.
• Age at entry/ exit : The minimum and maximum age at entry are 30 days (completed) to 13 years (last birthday), respectively.
• The minimum and maximum age at maturity are 18 years (last birthday) and 25 years (last birthday), respectively.
• The minimum policy term for limited premium payment is 10 years and for single premium payment is 5 years.
• The maximum policy term for both limited and single premium payment is 25 years.
• Mode of instalment : It can be monthly, quarterly, half-yearly or yearly where the minimum instalment amount can be ₹5,000, ₹15,000, ₹25,000 or ₹50,000, respectively.
• Special Terms for POSP-LI/CPSC-SPV : In case of policies procured through POSP-LI (point of sales persons -- life insurance) /CPSC-SPV (Common Public Service Centers - State Public Vehicle), the maximum policy term is 20 years.

SBI Introduces Digital Enrollment for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana Schemes for Customers                   

• State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes for its customers.
• The functionality enables customers to enrol under the schemes at their convenience without visiting the branch or Customer Service Point.

About Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) :

• Duration: It is a one-year life insurance scheme renewable from year to year.
• Coverage: Provides coverage for death due to any reason.
• Administered by: Either LIC or any other life insurance company in partnership with banks/Post offices.
• Eligibility: Individuals aged between 18-50 years holding a savings bank or a post office account are eligible to enrol.
• Sum Assured: Offers a life cover of Rs. 2 Lakhs against a premium of Rs. 436/- per annum.

About Pradhan Mantri Suraksha Bima Yojana (PMSBY) :

• Duration: Similar to PMJJBY, it is a one-year accidental insurance scheme renewable annually.
• Coverage: Provides coverage for death or disability due to an accident.
• Administered by: Public Sector General Insurance Companies (PSGICs) or any other general insurance company in partnership with banks/Post offices.
• Eligibility: Individuals aged between 18-70 years holding a savings bank or a post office account are eligible to enrol.
• Sum Assured: Offers an accidental death cum disability cover of Rs. 2 lakhs (Rs. 1 lakh in case of partial disability) against a premium of Rs. 20/- per annum.

Recent News :

• In Jan 2024, State Bank of India (SBI) raised USD 250 million through issuance of the Green Notes to fund sustainable projects.

About SBI :

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

IRDAI Suggests Implementation of a 30-Day 'Free Look' Period for Policies Starting from Receipt Date                         

• The insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has proposed to extend the free look period for the policies from the current 15 days to 30 days
• This proposal is included in the draft of IRDAI (Protection of Policyholders' Interests and Allied Matters of Insurers) Regulations, 2024.

Key Highlights :

• Definition of Free Look Period: The 'free look' period refers to the duration within which a policyholder can cancel the policy without incurring surrender charges.
• Additionally, the insurer will refund the first premium paid if the policyholder returns the policy within this period.
• Extension of Free Look Period: Under the proposed regulations :
• The free look period for the policies, obtained through any mode, will be 30 days from the date of receipt of the policy document.
• Insurers collect the details of bank accounts of insured at the proposed stage to enable electronic transfer of refund and for payments of claims.
• No policy to be issued unless nomination is obtained.
• Nomination provisions relating to general, wherever applicable and health insurance policies introduced.
• Insurance policies meeting the defined criteria to be issued in electronic form.

Recent News :

• In Feb 2024, The Insurance Regulatory and Development Authority (IRDAI) introduced an exposure draft proposal for an insurance electronic marketplace named Bima Sugam.

About IRDAI :

• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.

Federal Bank Introduces Stellar Savings Account for Customer Base           

• Federal Bank has launched its latest banking product, the Stellar Savings Account, to revolutionize the banking sector by offering exceptional benefits and innovative features.
• Objective: The introduction of the Stellar Savings Account aims to enhance customer experience, promote financial wellness, and encourage eco-friendly banking practices.

Key Features of the Stellar Savings Account :

• One-Year Complimentary Wellness Plan: Federal Bank includes a complimentary one-year wellness plan with the Stellar Savings Account, emphasizing the importance of overall well-being for its customers.
• Insurance Coverage: The account provides robust insurance coverage, offering financial security and peace of mind to customers and their families in case of unforeseen events.
• Milestone Benefits: Milestone benefits are introduced, allowing customers to celebrate each banking achievement with exclusive perks and privileges.
• Accelerated Reward Points: Customers can earn reward points on every transaction with the account, with accelerated points for debit card expenditures in specific segments such as travel, electronics, and apparel, maximizing their rewards.
• Eco-Friendly Debit Card: Federal Bank offers an eco-friendly debit card with the Stellar Savings Account, aligning with its commitment to sustainability and enabling customers to make environmentally conscious choices while managing their finances.

About Federal Bank :

• Established : 1931
• Headquarters : Aluva, Kochi, Kerala
• CEO: Shyam Srinivasan
• Tagline : Your Perfect Banking Partner 

CURRENT AFFAIRS: NATIONAL NEWS

Indian government has strengthened the agriculture sector by increasing the Food Corporation of India's authorized capital from Rs 10,000 crore to Rs 21,000 crore.

• In a landmark decision aimed at bolstering the agricultural sector and ensuring the welfare of farmers nationwide, the Government of India (GoI) has announced an increase in the authorized capital of the Food Corporation of India (FCI) from Rs 10,000 Crore to Rs 21,000 Crore.
• This strategic move shows the government's steadfast commitment to supporting farmers and fortifying India's agrarian economy.
• FCI, as the pillar of India's food security architecture, plays a pivotal role in various crucial functions, including the procurement of food grains at Minimum Support Price (MSP), maintenance of strategic food grain stocks, distribution to state governments and Union Territories (UTs), and stabilization of food grain prices in the market.
• The increase in authorized capital is a significant step towards enhancing the operational capabilities of FCI in fulfilling its mandate effectively.
• To match the gap of fund requirement FCI resorts to Cash Credit, Short Term Loan, Ways & Means etc. Increase of Authorised capital and further infusion will reduce the interest burden, reducing the economic cost and ultimately affecting the subsidy of GOI positively.
• The Government of India, recognizing the critical role of FCI in maintaining food security, periodically specifies the strategic level of food grain stocks to be maintained by FCI and designated central pool (DCP) states.
• FCI diligently adheres to these norms to address any adverse situations that may arise in the future, ensuring the nation's resilience to food-related challenges.

India's gas demand to rise 6% in 2024: IEA

• India's natural gas demand is expected to rise by 6 per cent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA).
• India's natural gas demand had risen to 64 billion cubic meters in 2023.
• India to increase its LNG imports in 2024 by 7 per cent, fuelled by demand from the power and fertiliser sectors, as the country plans to stop importing urea by 2025.
• In November 2023 India approved mandatory blending of compressed biogas into the domestic gas supply.
• The mandate will be set at 1 per cent of total compressed natural gas and domestic piped natural gas consumption from 2025, and raised gradually to 5 per cent from 2028-29.
• India has approved a National Green Hydrogen Mission in January 2023.
• The mission sets a target for at least 5 million tonnes a year of green hydrogen production by 2030, "with potential to reach 10 million tonnes with growth of export markets".

About IEA

• The International Energy Agency is a Paris-based autonomous intergovernmental organisation, established in 1974.
• The 31 member countries and 13 association countries of the IEA represent 75% of global energy demand.
• Headquarters: Paris, France.

CURRENT AFFAIRS: BUSINESS NEWS

The Expert Committee on the Implementation of Indian Accounting Standards has been reconstituted, as announced by IRDAI.

• The Insurance Regulatory and Development Authority of India (IRDAI) announced the reconstitution of the Expert Committee on the implementation of the Indian Accounting Standards.
• The 13-member committee, which will be headed by the Member (Finance and Investment) F&I of IRDAI, will also include the Chairman of the Accounting Standards Board of ICAI, the President of the Institute of Actuaries of India, the CGM & HOD of IRDAI’s Actuarial Department, among others.
• The committee will also address the requirements of guidance notes, APS, and Education Material from respective professional institutes.
• It further stated that the panel will also address any key issues and concerns arising out of transition activities and also any other issue which may be necessary for the transition

About IRDAI

• The Insurance Regulatory and Development Authority of India is a statutory body under the jurisdiction of Ministry of Finance, Government of India and is tasked with regulating and licensing the insurance and re-insurance industries in India.
• Founded: 1999
• Headquarters: Hyderabad

APEDA boosts agricultural exports from USD 0.6 billion in FY1987-88 to USD 26.7 billion in FY 2022–23.

• The Agricultural and Processed Food Products Export Development Authority (APEDA) has propelled India's agricultural exports from 0.6 billion US dollars in fiscal year 1987-88 to 26.7 billion US dollars in the fiscal year 2022-23.
• With APEDA's interventions, India's agricultural export growth has surged, showcasing the Compound Annual Growth Rate (CAGR) of 12 percent.
• During April-December 2023, APEDA's strategic initiatives bore fruit, with 18 out of 23 Principal Commodities experiencing positive growth.
• Fresh fruit exports registered an exceptional 29 percent growth, while processed vegetables, Basmati Rice, and fresh vegetables also witnessed significant upticks.
• Basmati rice witnessed a significant increase in export value upto 19 percent and an 11 per cent growth in quantity, solidifying its position as a major export commodity for India.
• Top markets for Basmati rice include Iran, Iraq, Saudi Arabia, the USA, and the UAE, reaffirming its enduring global demand.
• Reflecting APEDA's leadership in diversifying India's agricultural export portfolio, commodities like bananas, lentils, fresh eggs, Kesar, and Dasheri Mango recorded substantial growth.

About APEDA

• The Agricultural and Processed Food Products Export Development Authority is an Indian Apex-Export Trade Promotion Active government body. APEDA is the premier body of the export promotion of fresh vegetables and fruits.
• Founded: 13 February 1986
• Headquarters: New Delhi

Tesla will start making new EV model in second half of 2025

• Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025.
• The project has been codenamed ‘Redwood’ and will enter production in the second half of 2025.
• The models, codenamed project ‘Redwood,’ will include an entry-level $25,000 car, allowing Tesla to compete with cheaper gasoline-powered cars and a growing number of inexpensive EVs, such as those made by China's BYD, which recently surpassed the former as the world's largest EV manufacturer.

CURRENT AFFAIRS: AWARDS AND HONOURS

69th Hyundai Filmfare Awards 2024 with Gujarat Tourism

• The 69th Hyundai Filmfare Awards 2024 was held in Gujarat in partnership with Gujarat Tourism.
• The awards honour the art of movie-making, acting, dialogue writing and music.
• It is the biggest award show in the Hindi film industry.

List Of Winners

• Best Film (Popular)- 12th Fail
• Best Film (Critics)- Joram
• Best Director- Vidhu Vinod Chopra (12th Fail)
• Best Actor In A Leading Role- Ranbir Kapoor (Animal)
• Best Actor (Critics)- Vikrant Massey (12th Fail)
• Best Actor In A Leading Role (Female)- Alia Bhatt (Rocky Aur Rani Kii Prem Kahaani)
• Best Actress Critics- Shefali Shah (Three Of Us), Rani Mukerji (Mrs Chaterjee Vs Norway)
• Best Actor In A Supporting Role (Male)- Vicky Kaushal (Dunki)
• Best Actress In A Supporting Role- Shabana Azmi (Rocky Aur Rani Kii Prem Kahaani)

About the Filmfare awards

• The Filmfare Awards are annual awards that honour artistic and technical excellence in the Hindi-language film industry of India.
• The Filmfare ceremony is one of the most famous film events in India.
• The Filmfare Awards, introduced in 1954, has been a symbol of excellence in the film domain.
• The film "Black" (2005) holds the record for winning the maximum number of Filmfare awards in a single year, securing 11 awards across various categories.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Union Minister Shri Parshottam Rupala will be present when the Department of Fisheries signs a Memorandum of Understanding with Open Network for Digital Commerce.

• To strengthen the direct access to consumers or markets for fishermen and unlock the potential of digital commerce in the field of Indian Fisheries, the Department of Fisheries (GoI) will be signing a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC).
• The MoU will be signed in the presence of Union Minister of Fisheries, Animal Husbandry and Dairying, Shri Parshottam Rupala and Minister of State for Fisheries, Animal Husbandry and Dairying, L Murugan at Krishi Bhawan, New Delhi.

Key Highlights

• Secretary Department of Fisheries, Dr Abhilaksh Likhi, Joint Secretary Department of Fisheries, Shri Sagar Mehra, Joint Secretary Department of Fisheries, Smt. Neetu Kumari Prasad, Managing Director, ONDC, Shri T. Koshy, Vice President, ONDC, Ms Aditi Singh will also be present on the occasion.
• Around 50 Fish Farmers Producers Organizations (FFPOs) are expected to join physically with other esteemed dignitaries. The program will take place in a hybrid mode.
• The MoU signing is an important event in the fisheries sector as it's the first time that department is going to enter MoU with ONDC.
• This essential step will provide a digital platform for fisherfolks, fish farmers producers organization, entrepreneurs, SHGs, fishermen cooperatives and other relevant stakeholders in fisheries sector to access wider markets, expanding their reach and potential customer base etc.
• The collaboration between the Department of Fisheries and ONDC will facilitate the implementation of technology-driven solutions, and improve efficiency, collectivisation and competitiveness of the small-scale producers and marketers.

Mahindra Finance partners with IBM to build a Super App for financial inclusion

• Mahindra & Mahindra Financial Services Limited and IBM announced their partnership to create a “Super App” aiming to provide customers with a single digital financial services platform.
• The “super app” will enable the customers to access the different services of Mahindra Group’s NBFC arm and have 24/7 digital access to them.
• IBM Consulting will support “human-centred design methodology” to elevate the super app experience for its consumers, tracking actions of their lending journey.
• Raul Rebello, MD & CEO-Designate of Mahindra Finance.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Pixxel to launch six home-built hyper-spectral satellites from June 2024                                                         

• Bengaluru-based space start-up Pixxel plans to launch a series of small, home-built satellites - Fireflies from June that could have a finer look at the Earth with its five-metre resolution hyper-spectral imagery.
• Pixxel launched its satellite manufacturing unit -- Mega Pixxel in Bengaluru where it can assemble, integrate and test 40 satellites weighing 100 kilograms every year as the nascent company aims to take a leap in the space sector.

Key Highlights :

• Pixxel also plans to launch six heavier satellites, Honeybees next year to complete its constellation of 24 satellites with an ability to revisit any location on Earth within a 24-hour cycle.
• At 5 metres, the Fireflies have better resolution than the demonstration satellites Shakuntala and Anand that Pixxel launched aboard SpaceX and PSLV rockets, respectively, in 2022.
• The satellite manufacturing facility in Bengaluru, inaugurated on January 15 by Indian Space Research Organisation (ISRO) Chairman S Somanath, spans more than 30,000 square feet and comprises two modern clean rooms of ISO Class 7 and ISO Class 8 that safeguard against contaminants, which can impair satellite functionality during the assembly and integration process.
• Additionally, it also houses labs for advanced camera integration, electronics research and development, and electrical assembly; along with a mechanical workshop, a mission control room, and an office space that can accommodate more than 200 employees.
• Data from Pixxel satellites will be critical in helping global organisations closely monitor emissions, water pollution, gas leaks, oil spills, soil composition, forest biodiversity and crop health in unprecedented detail and at faster speeds.
• The company also won the iDEX grant to build a satellite bus for the Indian Air Force and is also putting together a 150-kilogramme satellite for it.

About Pixxel :

• Founded : February 2019
• Headquarters : Bengaluru, Karnataka, India
• Founder and CEO : Awais Ahmed

CURRENT AFFAIRS: SPORTS NEWS

Australia clinch U19 Men’s Cricket World Cup crown with emphatic win over India

• Australia beat India by 79 runs to win their fourth ICC U19 World Cup.
• The Australian team posted a target of 253 runs in 50 overs.
• However, India fell short, managing to score only 174 runs in their innings.
• The 2024 ICC Under-19 Men's Cricket World Cup was an international limited-overs cricket tournament organized by the International Cricket Council (ICC), that was held in South Africa from 19 January to 11 February 2024.
• It was the fifteenth edition of the Under-19 Cricket World Cup.
• The tournament was originally scheduled to be held in Sri Lanka, but its hosting was pulled in November 2023 after Sri Lanka Cricket was suspended by the ICC.
• The Man of the match was awarded to Mahli Beardman who took 3 wickets for 15 runs in the final match.
• The performers of the tournament were, Uday Saharan from India (397 runs) and Kwena Maphaka from South Africa (21 wickets).
• South Africa pace sensation Kwena Maphaka has been named the Player of the Tournament at the ICC U19 Men's Cricket World Cup 2024.

ISSF World Cup 2024 Cairo shooting: Divyansh Singh Panwar wins gold medal with world record score

• India’s Divyansh Singh Panwar won the gold medal in the men’s 10m air rifle shooting event at the ISSF World Cup 2024 in Cairo.
• India finished their campaign at the top of the table with six medals.
• India’s six medals at the first ISSF World Cup of the year included two gold, three silver and one bronze.
• Great Britain finished second on the medal table with two gold and one silver while Germany was third with two gold and three bronze medals.

CURRENT AFFAIRS : OBITUARIES

Ex Indian Test Cricketer Dattajirao Gaekwad Passed Away                                     

• India's oldest Test cricketer and former captain, Dattajirao Gaekwad, passed away at the age of 95 due to age-related issues.

About Dattajirao Gaekwad :

• Gaekwad is the father of former India cricketer and coach Aunshuman Gaekwad.
• He represented India in Test cricket from 1952 to 1961, playing a total of 11 Tests during this period.
• Gaekwad was a key player for Baroda in domestic cricket, scoring 3,139 runs, including 14 centuries, in the Ranji Trophy.
• Notable Performances: He showcased remarkable performances, such as scoring 249 not out against Maharashtra, along with two other double centuries. Additionally, he had notable displays against Gujarat in the 1949-50 season.
• After the death of Deepak Shodhan in 2016, he became the oldest living Indian Test cricketer.

Daily CA One- Liner: February 18

• In a landmark decision aimed at bolstering the agricultural sector and ensuring the welfare of farmers nationwide, the Government of India (GoI) has announced an increase in the authorized capital of the Food Corporation of India (FCI) from Rs 10,000 Crore to Rs 21,000 Crore
• India's natural gas demand is expected to rise by 6 per cent in 2024 with a rise in consumption in fertiliser units, power generation and industrial sectors, according to the International Energy Agency (IEA).
• The Insurance Regulatory and Development Authority of India (IRDAI) announced the reconstitution of the Expert Committee on the implementation of the Indian Accounting Standards.
• The Agricultural and Processed Food Products Export Development Authority (APEDA) has propelled India's agricultural exports from 0.6 billion US dollars in fiscal year 1987-88 to 26.7 billion US dollars in the fiscal year 2022-23.
• Tesla expects to start production of its long-anticipated, next-generation electric vehicle at its Texas factory in the second half of 2025.
• The 69th Hyundai Filmfare Awards 2024 was held in Gujarat in partnership with Gujarat Tourism.
• To strengthen the direct access to consumers or markets for fishermen and unlock the potential of digital commerce in the field of Indian Fisheries, the Department of Fisheries (GoI) will be signing a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC)
• Mahindra & Mahindra Financial Services Limited and IBM announced their partnership to create a “Super App” aiming to provide customers with a single digital financial services platform.
• Australia beat India by 79 runs to win their fourth ICC U19 World Cup.
• India’s Divyansh Singh Panwar won the gold medal in the men’s 10m air rifle shooting event at the ISSF World Cup 2024 in Cairo
• Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI, has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel.
• The Supreme Court directed the State Bank of India (SBI) to stop issuing electoral bonds immediately.
• The Reserve Bank of India (RBI) has officially excluded "Rupee Co-operative Bank Limited" from the Second Schedule of the Reserve Bank of India Act, 1934.
• With the latest tranche last month, 30 tranches of electoral bonds issued so far have collected over ₹16,518 crore.
• The Life Insurance Corporation of India (LIC) has launched “Amritbaal”, an insurance plan for children.
• State Bank of India (SBI) has launched a self-subscribing journey for enrolment under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) schemes for its customers.
• The insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has proposed to extend the free look period for the policies from the current 15 days to 30 days
• Federal Bank has launched its latest banking product, the Stellar Savings Account, to revolutionize the banking sector by offering exceptional benefits and innovative features.
• Bengaluru-based space start-up Pixxel plans to launch a series of small, home-built satellites - Fireflies from June that could have a finer look at the Earth with its five-metre resolution hyper-spectral imagery.
• India's oldest Test cricketer and former captain, Dattajirao Gaekwad, passed away at the age of 95 due to age-related issues.