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Jan 23 2025
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CURRENT AFFAIRS: BANKING & FINANCE
Tata AIA Life Insurance launches ‘Shubh Muhurat’ to meet wedding expenses
- Tata AIA Life Insurance has launched ‘Shubh Muhurat,’ a life insurance solution to help parents save for their child’s wedding.
- The solution is suited for parents aged between 31 and 50 years, having children in the age group of 1 to 20 years.
- Investing in this solution early can give the parent long enough to accumulate the desired corpus for the child’s grand wedding.
- Shubh Muhurta gives capital guarantee with equity exposure.
- By safeguarding the policy proceeds under the Married Women’s Property Act, Shubh Muhurat ensures that the funds intended for the child’s marriage are legally protected and will only be available to the nominee regardless of external financial claims.
- This plan offers capital guarantees with equity exposure, long-term wealth growth, and tailored benefits like immediate death benefit, premium waiver, and maturity payouts to ensure uninterrupted financial planning for a child’s wedding.
About Tata AIA Life Insurance Company:
- Founded: 1 April 2001
- Headquarters: Mumbai, Maharashtra
- Parent organizations: AIA Group, Tata Sons
- CEO: Venkatachalam Iyer
ACKO Launches E-Challan Service to Simplify Traffic Fine Payments in Karnataka
- ACKO, a leading digital-first insurance provider, has introduced an innovative e-challan service for seamless traffic fine payments in Karnataka.
- Citizens can check their e-challan status and pay traffic fines directly through the ACKO app or website, eliminating long queues and tedious processes.
- The service includes Bangalore's traffic challan system, enhancing convenience for motorists across the state.
- The e-challan service provides a user-friendly digital platform for traffic fine payments, reducing frustrations associated with traditional methods and ensuring ease of compliance for motorists.
- It encourages drivers to pay fines promptly, fostering accountability and responsibility among them.
- By freeing up administrative resources, the service allows traffic authorities to focus more on improving road safety.
- This initiative aligns with Karnataka’s vision of becoming a digitally progressive state by promoting transparency and efficiency in traffic fine management.
- ACKO’s e-challan service reflects its dedication to leveraging technology for innovative solutions that benefit citizens and administrators, contributing to improved road safety and governance.
About ACKO General Insurance:
- Founded: 2016
- Headquarters: Bengaluru, Karnataka, India
- Founder and CEO: Varun Dua
YES Bank launches frictionless finance accelerator programme to support Fintech startups
- YES Bank, in collaboration with the Reserve Bank Innovation Hub (RBIH) and the P. Jain Institute of Management and Research (SPJIMR), has launched the Frictionless Finance Accelerator Programme on National Startup Day.
- This initiative aims to support fintech startups in overcoming challenges, scaling innovations, and promoting financial inclusion in India.
Key Highlights:
- India’s startup ecosystem, with over 5 lakh registered startups and more than 100 unicorns, is rapidly expanding, and fintech startups are playing a significant role in improving access to financial services.
- The programme focuses on creating scalable solutions in key areas, such as digital lending, AI-based risk management, blockchain payments, and financial inclusion.
- Startups participating in the programme will benefit from RBIH’s expertise, SPJIMR’s academic resources, and YES Bank’s industry insights.
- Tools like the YES Connect platform will assist startups in navigating regulatory frameworks and optimizing their business strategies.
- Additionally, the programme will foster partnerships between fintech startups, industry leaders, and regulators.
- YES Bank has a history of supporting fintech startups through initiatives like YES HeadStartup and partnerships, such as the recent collaboration with Vegapay for UPI-linked credit solutions.
- This accelerator programme underscores the bank’s commitment toco-creating innovative financial solutions.
About YES Bank:
- Founded: 2004
- Headquarters: Mumbai, Maharashtra, India
- Managing Director & CEO: Prashant Kumar
- Tagline :"Life Ko Banao Rich"
UGRO Capital and iSPIRT to launch Priority Sector Lenders Association of India (PSLAI)
- iSPIRT has collaborated with UGRO Capital to launch the Priority Sector Lenders Association of India (PSLAI), a Section 8 company aimed at addressing credit challenges in priority sectors, particularly Micro, Small, and Medium Enterprises (MSMEs).
- Founding members of PSLAI include UGRO Capital, IIFL, and fintech companies like GetVantage and GetGrowth Capital.
- PSLAI focuses on promoting loans under the Reserve Bank of India (RBI) Priority Sector Lending (PSL) norms, which are designed to support sectors like agriculture, small businesses, and affordable housing.
- Under RBI rules, banks are required to allocate 40% of their Adjusted Net Bank Credit (ANBC) to PSL, which amounts to approximately Rs 64 trillion in loans annually.
- iSPIRT believes that India’s digital infrastructure offers significant potential to expand credit access for MSMEs, with the possibility of increasing credit in this sector to Rs 130 trillion in the next 3-5 years.
- PSL loans are often smaller and riskier, causing many banks to meet their PSL targets indirectly, such as through securitisation deals.
- Among the PSL categories, agriculture receives the largest share of funding.
- The MSME sector, contributing 29% of GDP and nearly 46% of exports in India, faces a credit gap of Rs 103 trillion as of FY 2024.
- Out of the total required Rs 138 trillion for MSME financing, only 25% is met through formal channels, forcing many MSMEs to rely on informal credit sources.
About URGO Capital:
- Founded: 2018
- Headquarters: Mumbai, Maharashtra, India
- Managing Director & CEO: Sachindra Nath
CURRENT AFFAIRS: NATIONAL NEWS
India Launches Indian Sustainable Natural Rubber (iSNR) Initiative to Lead Global Sustainability in Rubber Production
- The Indian Sustainable Natural Rubber (iSNR) initiative was launched in Kottayam, Kerala, aligning with globally accepted sustainability principles and the European Union Deforestation Regulation (EUDR).
- The ceremony was inaugurated by George Kurian, Hon’ble Minister of State for Fisheries, Animal Husbandry, Dairying, and Minority Affairs, and presided over by Thiruvanchur Radhakrishnan, Member of the Legislative Assembly.
- Key dignitaries, including Anil Kumar (Vice Chairman, Rubber Board) and N. Hari (Member, Rubber Board), also attended the event.
Key Objectives of iSNR
- Preventing Deforestation:
- iSNR ensures zero-deforestation commitments, supporting biodiversity conservation and carbon sequestration goals.
- Empowering Farmers:
- Provides free certification and training to smallholders.
- Encourages sustainable farming practices to improve yields, reduce environmental impact, and enhance livelihoods.
- Supply Chain Traceability:
- Implements transparency from farm to factory, ensuring ethical and sustainable sourcing for global buyers.
- Alignment with Global Goals:
- Supports India’s commitment to the United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement.
TRST01’s Contributions to iSNR
- Digital Monitoring and Reporting:
- Ensures compliance with EUDR and provides real-time insights into sustainable practices.
- Simplified Compliance:
- Streamlines processes, reducing the burden on farmers and exporters for seamless certification.
- Environmental and Social Benefits:
- Promotes reforestation, reduces carbon footprints, and ensures fair practices for farmers.
National Health Mission (NHM) Drives India’s Progress Toward Health Sustainable Development Goals by 2030
- The Union Cabinet reviewed the National Health Mission (NHM) for the last three years and highlighted its critical contribution to achieving Sustainable Development Goals (SDGs) ahead of the 2030 deadline.
- NHM has transformed India’s healthcare system, improving maternal and child health, addressing disease elimination, and strengthening healthcare infrastructure.
Major Achievements of NHM
- Healthcare Workforce Expansion
- Engaged 2.69 lakh healthcare workers in 2021-22, growing to 5.23 lakh in 2023-24.
- Added community health officers (CHOs):
- 2021-22: 90,740 CHOs.
- 2023-24: 1.38 lakh CHOs.
- Improvement in Health Indicators
- Maternal Mortality Ratio (MMR):
- Reduced from 130 per lakh live births in 2014-16 to 97 per lakh in 2018-20 (83% decline since 1990).
- Under-5 Mortality Rate:
- Dropped from 45 per 1,000 live births in 2014 to 32 in 2020.
- Infant Mortality Rate:
- Declined from 39 per 1,000 live births in 2014 to 28 in 2020.
- Total Fertility Rate:
- Fell from 2.3 in 2015 to 2.0 in 2020.
- Maternal Mortality Ratio (MMR):
- COVID-19 Response and Vaccination
- NHM facilitated the administration of over 220 crore vaccine doses between January 2021 and March 2024, utilizing its vast network of healthcare facilities.
- Disease Elimination Efforts
- Tuberculosis (TB):
- TB incidence reduced from 237 per 1,00,000 in 2015 to 195 in 2023.
- Kala-Azar:
- Achieved 100% endemic block elimination by 2023.
- Malaria:
- Malaria deaths reduced by 7.77% in 2022 compared to 2021.
- Measles-Rubella Campaign:
- Vaccinated over 34.77 crore children with a 97.98% coverage.
- Tuberculosis (TB):
- Specialized Initiatives
- Pradhan Mantri TB Mukt Bharat Abhiyaan:
- Supported 9.40 lakh TB patients through 1.56 lakh Ni-kshay Mitras.
- National Dialysis Programme:
- Delivered 62.35 lakh hemodialysis sessions in FY 2023-24.
- National Sickle Cell Anemia Elimination Mission:
- Screened over 2.61 crore individuals in tribal areas.
- Pradhan Mantri TB Mukt Bharat Abhiyaan:
- Digital Health Transformation
- Launched the U-WIN platform in January 2023 for real-time vaccination tracking.
- By March 2024, expanded to 65 districts across 36 states/UTs, improving immunization coverage.
Competition Commission of India’s Monetary Penalty Guidelines Nominated for Global Antitrust Award
- The Competition Commission of India (CCI) has earned global acclaim with the nomination of its “Determination of Monetary Penalty Guidelines, 2024” for the 2025 Concurrences Antitrust Awards in the Soft Laws & Studies category.
- Organized annually, the Concurrences Antitrust Writing Awardshonorexceptional contributions to competition law and policy
About the Guidelines
- Introduced in 2024, these guidelines provide a structured framework for determining monetary penalties in antitrust cases.
- The framework enhances transparency and predictability in enforcement, ensuring proportional penalties and aligning India’s practices with global standards.
India Showcases Inclusive Growth and Digital Transformation at World Economic Forum 2025
- Union Minister Shri Ashwini Vaishnaw (Railways, Information & Broadcasting, Electronics & IT) is participating in the World Economic Forum (WEF) 2025 in Davos.
- His participation underscores India's commitment to inclusive growth, transformative development, and technological innovation as envisioned by Prime Minister Narendra Modi.
India’s Model of Inclusive Growth
- Empowering Marginalized Communities:
- Shri Vaishnaw highlighted India's success in bringing development to all sections of society, particularly the marginalized.
- Achievements include:
- Financial inclusion through widespread bank account access.
- Essential services like toilets, gas connections, tap water, and improved infrastructure in rural and urban areas.
- Global Focus on India’s Development:
- India’s inclusive growth model aims to bring transformative changes to those at the bottom of the pyramid.
- Discussions at WEF 2025 will focus on investment in social, physical, and digital infrastructure and democratizing technology to empower citizens.
India’s Digital Revolution in the Spotlight
- Digital India Programme:
- Shri Vaishnaw emphasized the global interest in India's digital transformation, driven by the Digital India initiative.
- India’s innovative digital architecture has set a global benchmark for using technology to foster inclusive development.
- Key Outcomes of India’s Digital Policies:
- Democratized technology for all social strata.
- Empowerment through accessible digital platforms.
- Enhanced global recognition of India as a leader in sustainable development and technological innovation.
India’s Objectives at WEF 2025
- Strengthen global partnerships by showcasing India’s development model.
- Attract investments in social, physical, and digital infrastructure.
- Position India as a global leader in:
- Sustainable development.
- Technological innovation.
- Inclusive economic policies.
UNESCO and MeitY Collaborate on AI Readiness Assessment to Align India’s AI Ecosystem with Global Ethical Standards
- The United Nations Educational, Scientific and Cultural Organization (UNESCO)and the Ministry of Electronics and Information Technology (MeitY), in partnership with Ikigai Law, organized a two-day AI Readiness Assessment Methodology (RAM) consultation.
- Held on January 16-17, 2025, at IIIT Bangalore and the NASSCOM AI office, the consultation aimed to align India’s AI ecosystem with global ethical standards, focusing on responsible and ethical AI adoption.
Objective of the Consultation
- The consultation aimed to create an India-specific AI policy by identifying growth opportunities and strengths within the AI landscape.
- The AI RAM tool was used to assess India’s AI landscape, including infrastructure, legislation, key stakeholders, and governance frameworks.
- It emphasized ethical principles like transparency, inclusiveness, and fairness as outlined in UNESCO's Global Recommendation on the Ethics of AI.
Alignment with India’s AI Initiatives
- The consultation aligns with India’s INDIAai Mission, backed by over ₹10,000 crore in funding, focused on creating Safe and Trusted AI.
- The mission promotes indigenous AI frameworks, robust governance, and self-assessment guidelines to ensure safety, accountability, and ethical practices in AI.
INCOIS Receives Subhash Chandra Bose AapdaPrabandhan Puraskar-2025 for Exceptional Disaster Management Contributions
- Indian National Centre for Ocean Information Services (INCOIS), based in Hyderabad, has been honored with the prestigious Subhash Chandra Bose AapdaPrabandhan Puraskar-2025 for its outstanding contributions to disaster management.
- The award was conferred in the Institutional Category for INCOIS's role in strengthening disaster preparedness and providing critical early warning services.
Award Overview
- The Subhash Chandra Bose AapdaPrabandhanPuraskar, instituted by the Government of India, recognizes exceptional individuals and organizations for their work in disaster management.
- The award, announced annually on January 23 (Netaji Subhash Chandra Bose’s birth anniversary), includes a cash prize and certificate.
INCOIS's Key Contributions to Disaster Management
- Indian Tsunami Early Warning Centre (ITEWC):
- Provides tsunami alerts within 10 minutes, serving India and 28 countries across the Indian Ocean region.
- High-Wave, Cyclone, and Storm Surge Forecasts:
- Issues forecasts to protect coastal areas and support maritime operations.
- Assistance During Cyclones:
- It played a key role during the Phailin (2013) and Hudhud (2014) cyclones, offering advisories that facilitated timely evacuations, reducing risks to coastal populations.
- Search and Rescue Aided Tool (SARAT):
- Developed to assist Indian Coast Guard, Navy, and Coastal Security Police in locating individuals lost at sea.
- SynOPS Visualization Platform:
- Integrates real-time data to enhance response coordination during extreme events.
Recognition and Awards for INCOIS
- Geospatial World Excellence in Maritime Services Award (2024): Recognized for excellence in maritime services.
- Disaster Risk Reduction Excellence Award (2021): Honored for significant contributions to disaster risk reduction.
Subhash Chandra Bose - Key Points
- Birth and Early Life: Born on January 23, 1897, in Cuttack, Odisha, Bose was a prominent leader in India's freedom struggle.
- Role in Freedom Struggle: A key figure in the Indian National Congress, he founded the Forward Bloc and later the Indian National Army (INA) to fight British rule.
- Legacy: Known for his slogan "Give me blood, and I will give you freedom," his contributions are honored annually as Parakram Diwas on his birth anniversary.
- Disappearance: Bose's death in 1945 remains controversial, with theories surrounding his alleged plane crash in Taiwan.
Air India Launches eZ Booking: A New AI-Powered Ticket Booking Feature for Seamless Travel Planning
- Air India has unveiled eZ Booking, an AI-powered feature designed to streamline the ticket booking process, allowing customers to book their flights with fewer steps.
- The feature is currently exclusive to Maharaja Club members, Air India’s loyalty programme.
- eZ Booking simplifies the booking experience by enabling customers to Benefits of eZ Booking
- Reduced Steps and Complexity: No more complex multi-screen navigation; customers can book flights in fewer clicks and pages.
- Faster and Easier: The feature simplifies ticket booking, making it more efficient, user-friendly, and faster.
Recognition and Technological Integration
- Award-Winning Design: eZ Booking’s patent-pending design has won the Red Dot Design Concepts Award and is now showcased at the Red Dot Design Museum in Singapore.
- Integration with AI.g: The feature is built upon insights from AI.g, Air India’s generative AI chatbot launched in May 2023. AI.g handles over 50,000 queries daily, providing responses to 97% of them without human intervention.
Cabinet Approves Increased Minimum Support Price (MSP) for Raw Jute for 2025-26
- The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra Modi, has approved the Minimum Support Price (MSP) for Raw Jute for the Marketing season 2025-26.
- MSP of Raw Jute (TD-3 grade) is fixed at 5,650 per quintal, ensuring a 66.8% return over the all-India weighted average cost of production.
- This increase aligns with the government’s principle of setting MSP at 1.5 times the all-India weighted average cost of production, as announced in the Budget 2018-19.
Increase in MSP for 2025-26
- The MSP for Raw Jute represents an increase of Rs.315 per quintal over the previous season (2024-25).
- The MSP for Raw Jute has risen significantly from Rs.2,400 per quintal in 2014-15 to Rs. 5,650 per quintal for 2025-26, marking an increase of Rs. 3,250 per quintal, which is 2.35 times the previous rate.
Impact on Jute Farmers
- Government Payments to Farmers:
- From 2014-15 to 2024-25, the government paid 1,300 Crore to jute-growing farmers, compared to Rs. 441 Crore between 2004-05 to 2013-14.
- Livelihood of Jute Farmers:
- Approximately 40 lakh farm families depend directly or indirectly on the Jute Industry.
- Around 4 lakh workers are employed directly in Jute mills and in Jute trade.
- Regional Distribution of Jute Production:
- 82% of jute farmers are based in West Bengal, while Assam and Bihar contribute 9% each to India’s jute production.
Jute Corporation of India (JCI) Role
- Jute Corporation of India (JCI) will continue as the Central Government Nodal Agency for Price Support Operations.
- Any losses incurred during these operations will be fully reimbursed by the Central Government.
CURRENT AFFAIRS: STATE NEWS
Haryana Government Notifies Vehicle Scrappage and Recycling Facility Incentive Policy 2024
- The Haryana Government has notified the Vehicle Scrappage and Recycling Facility Incentive Policy, 2024, which will enable proper disposal and recycling of old vehicles while promoting environmental sustainability National Green Tribunal (NGT) fixed the passing limit period of 10 years for old diesel vehicles and 15 years for petrol vehicles in the National Capital Region (NCR)
- The government planned to implement the policy as an industrial scheme, offering capital subsidies or state GST reimbursement to new industrial units.
- Under the policy, the Department of Industries and Commerce would develop a 10-yearland leasing module through the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).
- Financial assistance will also be extended to start-ups, women entrepreneurs, and Scheduled Caste candidates to establish venture capital funds.
- Projects will be eligible for up to 20 crore in financial assistance, covering 10% of project costs (excluding land).
- Additionally, full stamp duty reimbursement will be provided in D-category industrial blocks, while B and C blocks will receive 75%
About Haryana:
- Chief Minister: Nayab Singh Saini
- Governor: Bandaru Dattatreya
- Capital: Chandigarh
- National Parks: Sultanpur National Park, Kalesar National Park
- Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Nahar Wildlife Sanctuary, Kalesar Wildlife Sanctuary
CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS
Tamil Nadu Police Officer Mahesh Kumar Aggarwal Elevated as Border Security Force Additional Director General
- Mahesh Kumar Aggarwal, a 1994-batch IPS officer from the Tamil Nadu cadre, has been appointed as the Additional Director General (ADG) of the Border Security Force (BSF).
- The appointment was confirmed by the Ministry of Home Affairs (MHA) on January 19, 2025.
- Tenure: Aggarwal will serve in this role for four years from the date of assuming charge or until further orders, whichever comes earlier.
About Mahesh Kumar Aggarwal:
- Current Position: Previously served as Special Director General of Police, Armed Police, Tamil Nadu.
- Held key positions, including: Commissioner of Police, Chennai &Commissioner of Police, Madurai
- On December 29, 2024, Aggarwal was promoted to the rank of Director General of Police (DGP) along with three other IPS officers by the Tamil Nadu government.
- Controversy: In June 2024, following the Kallakurichi hooch tragedy (resulting in over 60 deaths), Aggarwal, then serving as the ADGP, Enforcement Bureau, was transferred.
- He also headed the Enforcement Bureau during a similar incident in 2023, where 22 individuals died after consuming spurious liquor in Marakkanam and Chengalpattu.
About Border Security Force :
- Founded : 1st December 1965
- Headquarters : New Delhi, India
- Director General :Daljit Singh Chaudhary
- The BSF is a central armed police force in India under the Ministry of Home Affairs.
Institute of Companies Secretaries of India (ICSI) appoints Dhananjay Shukla as President and Pawan G Chandak as Vice President for 2025
- The Institute of Company Secretaries of India (ICSI) has announced the election of Dhananjay Shukla as its President for the year 2025.
- A commerce and law graduate and a fellow member of the institute, Shukla brings years of expertise as a practising company secretary based in Gurugram.
- Joining him in leadership, Pawan G Chandak has been appointed as the Vice President of ICSI for 2025.
- Chandak, a seasoned professional with over two decades of experience, specializes in labour laws and welfare.
- His extensive expertise includes assisting numerous start-up ventures, especially those promoted by foreign entities, in establishing operations in India.
- Chandak has held significant roles within ICSI and its regional councils over the years.
- He served as the Vice President of ICSI in 2024 and was a member of the Western India Regional Council (WIRC) of ICSI from 2019 to 2022, during which he also served as its Secretary in 2019.
- Additionally, he chaired the Pune Chapter of WIRC of ICSI in 2012 and 2017, showcasing his commitment to the institute’s growth and member engagement.
About Institute of Company Secretaries of India:
- Founded: 1968
- Headquarters: New Delhi, India
- President: Dhananjay Shukla
- Established by: Act of Parliament under Ministry of Corporate Affairs
Rahul Vij Joins DigiHaat as new Chief Operating Officer
- DigiHaat, a buyer app launched by Nirmit Bharat, a subsidiary of the Open Network for Digital Commerce (ONDC), has announced the appointment of Rahul Vij as its new Chief Operating Officer (COO).
About Rahul Vij:
- 15 years of experience in sales, marketing, and driving organizational growth.
- Previously served as Vice President (Business) at ONDC.
- Held key leadership roles at MagicPin, Reckitt, and Amazon India, where he contributed as Vice President, Zonal Manager, and Marketing Manager, delivering impactful strategies and scaling operations.
- With Rahul’s leadership, DigiHaat aims to: Drive innovation in digital commerce, Enhanceoperational efficiency, Develop customer-centric solutions, further solidifying its position as a leading e-commerce player in India.
Akhil Gupta Appointed as Chairman of Bharti AXA Life Insurance
- Akhil Gupta, the Vice Chairman of Bharti Enterprises, has been appointed as the new Chairman of Bharti AXA Life Insurance.
- With over 40 years of professional experience, Gupta has played a pivotal role in the expansion of Bharti Airtel since its inception.
About Akhil Gupta:
- Gupta has a proven track record of conceptualising and implementing transformative initiatives, significantly impacting the growth of the Bharti Group.
- He has been instrumental in managing strategic partnerships with major investors such as Warburg Pincus,Temasek, KKR, Qatar Foundation Endowment, AIF, and Sequoia Capital.
- Played a key role in the public listings of Airtel Africa, Bharti Airtel, and Bharti Infratel.
- Gupta’s appointment aligns with Bharti AXA Life Insurance’s strategic restructuring efforts as the company, now wholly owned by the Bharti Group, aims to:
- Develop comprehensive expansion plans targeting key markets and customer segments.
- Introduce customer-centric products tailored to market needs.
- Explore strategic partnerships with distributors, including bancassurance and digital distribution channels.
About Bharti AXA Life Insurance :
- Founded : 2006
- Headquarters : Mumbai, Maharashtra
- MD &CEO : Parag Raja
CURRENT AFFAIRS: ACQUISITION & MERGERS
Competition Commission of India Approves Proposed Combination Involving Agro Tech Foods Limited, Bharti Enterprises Limited, DMPL India Limited, and Del Monte Foods Private Limited
- The Competition Commission of India (CCI) has approved the proposed combination involving Agro Tech Foods Limited (ATFL), Bharti Enterprises Limited (BEL), DMPL India Limited (DMPL India), and Del Monte Foods Private Limited (DMFPL).
- The combination includes the acquisition of 100% shareholding in DMFPL by ATFL from its existing shareholders, which are BEL, Bharti Units, and DMPL India.
- Following this acquisition, DMFPL will become a wholly-owned subsidiary of ATFL.
- To complete the transaction, ATFL will issue 20.95% equity shares to Bharti and 14.39% equity shares to DMPL India as a preferential allotment.
Key Highlights:
- The Bharti Units include Bharti (SBM) Holdings Private Limited, Bharti (RBM) Holdings Private Limited, Bharti (RM) Holdings Private Limited, and Bharti (Satya) Trustees Private Limited on behalf of Bharti (Satya) Family Trust.
- ATFL is a publicly listed company engaged in the manufacturing, marketing, and sale of a wide range of food products and edible oils.
- BEL provides management consultancy services within the Bharti Group.
- DMPL India is an investment holding company with controlling interests in branded food and beverage businesses that produce, market, and sell packaged products, such as sauces, juices, frozen foods, and more, but it has no business presence in India beyond its investment in DMFPL.
- DMFPL is engaged in the manufacture and sale of packaged foods, including snacks, ready-to-eat foods, sauces, spreads, dips, edible oils, and pasta in India.
- This combination aims to strengthen ATFL's presence in the packaged food and edible oil sectors by leveraging DMFPL's established operations and market reach.
About CCI :
- Founded : 14 October 2003
- Headquarters : New Delhi, India
- Chairman : Ravneet Kaur
Competition Commission of India Approves Proposed Amalgamation of Several Entities with Sequent Scientific Limited as the Ultimate Surviving Entity
- The Competition Commission of India (CCI) has approved the proposed amalgamation of several entities with Sequent Scientific Limited (SSL) as the ultimate surviving entity.
- SSL, a publicly listed global player in the animal healthcare industry, offers Active Pharmaceutical Ingredients (APIs), finished dosage formulations (FDFs), and analytical services.
- Its wholly owned subsidiary, Sequent Research Limited (SRL), provides contract research and analytical services to the global pharmaceutical industry.
Key highlights:
- The entities involved in the amalgamation include SRL, Viyash Life Sciences Private Limited (Viyash), Symed Labs Limited (Symed), Appcure Labs Private Limited (Appcure), Vindhya Pharma (India) Private Limited (Vindhya Pharma), Vandana Life Sciences Private Limited (Vandana), Vindhya Organics Private Limited (Vindhya Organics), Geninn Life Sciences Private Limited (Geninn), and V. Labs Private Limited (SV Labs).
- Viyash is a pharmaceutical company engaged in the development, manufacture, and sale of APIs and FDFs for human healthcare and operates through its subsidiaries, Symed, Appcure, Vindhya Pharma, Vandana, and step-down subsidiary SV Labs.
- Geninn, a holding company, has a wholly owned subsidiary, Vindhya Organics, which focuses onAPIs for human healthcare.
- The proposed combination involves a series of inter-connected steps to amalgamate these entities, consolidating their operations under SSL.
- This transaction strengthens SSL’s position in the animal healthcare sector while integrating capabilities from human healthcare, enabling operational efficiency, portfolio diversification, and an expanded global footprint.
Competition Commission of India Approves Proposed Acquisition of AI Lenarco Midco Ltd. by Majesty II Pte. Ltd. and Acquisition of Compulsory Convertible Debentures in Manjushree Technopack Limited by Ashoka India Equity Investment Trust, Nuvama Private Investment Trust, and InCred Growth Partners Fund – I
- The Competition Commission of India (CCI) has approved the proposed acquisition of AI Lenarco Midco Ltd. by Majesty II Pte. Ltd. and the acquisition of certain compulsory convertible debentures in Manjushree Technopack Limited by Ashoka India Equity Investment Trust plc, Nuvama Private Investment Trust, and InCred Growth Partners Fund – I.
- The proposed combination involves the acquisition of the entire equity shareholding in AI Lenarco Midco Ltd. by Majesty II Pte. Ltd., which will lead to the indirect acquisition of a majority equity stake in Manjushree Technopack Limited.
- Additionally, Ashoka India Equity Investment Trust plc, Nuvama Private Investment Trust, and InCred Growth Partners Fund – I (collectively referred to as Co-Investors) propose to acquire minority investments in the form of compulsory convertible debentures in Manjushree Technopack Limited from AI Lenarco Midco Ltd
Key Highlights
- Majesty II Pte. Ltd. (Acquirer 1) is a newly incorporated special purpose vehicle and an investment holding company of the PAG group, a leading alternative investment firm in the Asia-Pacific region.
- PAG specializes in credit and markets, private equity, and real assets.
- Ashoka India Equity Investment Trust plc (Acquirer 2) is a closed-ended investment company from England & Wales, focused on achieving long-term capital appreciation through investments in Indian securities.
- Nuvama Private Investment Trust (Acquirer 3), through its investment manager Nuvama AML, is registered as a Category-II Alternative Investment Fund (AIF) under SEBI and offers portfolio management and advisory services.
- InCred Growth Partners Fund – I (Acquirer 4), a scheme under the InCred Alternative Opportunities Trust, is registered as a Category II AIF with SEBI.
- It focuses on investments in high-quality private businesses across consumer, financial services, technology, and enterprise
CURRENT AFFAIRS: SCIENCE & TECHNOLOGY
IIT-Madras’ ePlane Becomes First Firm to Receive Type Certification Application Acceptance from Directorate General of Civil Aviation
- The ePlane Company, incubated at IIT Madras, has become the first private Indian firm to receive formal acceptance from the Directorate General of Civil Aviation (DGCA) for the Type Certification of its electric Vertical Take-Off and Landing (eVTOL) aircraft, the e200X.
- This milestone marks India’s entry into eVTOL certification and represents a significant step toward sustainable air mobility in the country.
- The DGCA’s acceptance of the e200X sets the stage for India to lead in advanced air mobility, with a focus on creating regulatory frameworks that will facilitate scalable eVTOL operations.
- The e200X has met stringent safety and operational standards for commercial services, with the ePlane Company planning further collaborations with the DGCA to enhance aircraft design and safety measures.
e200X: A Vision for the Future
- The e200X is designed with a compact wingspan to minimize infrastructure requirements, making it ideal for diverse regions in India and global markets.
- The company has spent 18 months preparing for the certification, collaborating with stakeholders to develop operational frameworks and build infrastructure to support eVTOL services.
- The company has also made strides in the Type Certification of the e200X propeller, the first of its kind in the Indo-Pacific region.
- By utilizing local supply chains, ePlane has successfully reduced production costs, providing a cost-effective solution for consumers.
- The e200X is set to revolutionize urban air mobility, offering eco-friendly solutions for trips between 15 and 100 kilometers.
- Its potential applications include emergency medical services, providing low-emission alternatives to helicopters for aerial tourism, and significantly reducing travel times in congested urban areas.
About Pioneering Urban Air Mobility
- Founded in 2019 and incubated at IIT Madras, ePlane strengthens its position as a pioneer in Advanced Air Mobility (AAM) in India.
- The company plans to launch eVTOL services by 2026, aiming to transport over 5,00,000 people daily within three years of operations.
- Aligned with international aviation standards,ePlane aims to expand its eVTOL services to regions including the Asia Pacific, Middle East, Europe, Latin America, Africa, and the US.
CURRENT AFFAIRS: SPORTS NEWS
Arshdeep Singh Becomes India’s Leading Wicket-Taker in T20Is
- Arshdeep Singh became India’s highest wicket-taker in T20 internationals, surpassing Yuzvendra Chahal’s record of 96 wickets.
- The left-arm pacer reached this milestone in his 61st T20I match during the first T20I against England in Kolkata.
- He dismissed openers Phil Salt and Ben Duckett, taking his tally to 97 wickets.
Most Wickets by Indian Bowlers in T20Is
- Arshdeep Singh – 97* wickets in 61 matches.
- Yuzvendra Chahal – 96 wickets in 80 matches.
- Bhuvneshwar Kumar – 90 wickets in 87 matches.
- JaspritBumrah – 89 wickets in 70 matches.
- Hardik Pandya – 89 wickets in 109 matches.
India Advances Its Bid for 2036 Olympics with Groundbreaking Conference in Gujarat
- India's bid to host the 2036 Olympics took a major leap forward with a four-day Olympic Research Conference in Gujarat.
- The conference, organized by the Indian Olympic Association (IOA) and supported by the Union Ministry of Youth Affairs and Sports, focuses on developing sustainable sports infrastructure and strategic plans to ensure India’s readiness for hosting the prestigious global event.
Event Focus and Themes
- "2036 Vision: Pathway to Become an Olympic Host"
- Examining India’s journey and preparedness to host the Olympics.
- “Global Best Practices in Olympic City Selection and Urban Legacy”
- Drawing insights from successful Olympic host cities to understand urban development strategies.
- “Financing the Future: Economic Models for Hosting the Olympics”
- Exploring innovative funding mechanisms and investment opportunities for hosting the Olympics in India.
- “Greening the Games: Integrating Sustainability”
- Discussing environmentally conscious practices for the Olympic Games in India.
- “Promoting Gender Equity and Inclusion Across Disciplines”
- Focusing on ensuring diversity and equal opportunities for athletes and officials.
High-Profile Participation
- PT Usha, President of IOA, and Gagan Narang, Vice-President of IOA and Olympic medalist, along with renowned researchers and experts in Olympic studies, contributed to the event’s success.
CURRENT AFFAIRS: OBITUARY
Wing Commander (Retired) Dr K Ramchand passes away at 82
- Wing Commander (retired) Dr K Ramchand, aged 82, the Founder Director of Centre for Airborne Systems (CABS), DRDO, Bengaluru, passed away.
- Dr Ramchand was a pioneering figure in Indian aerospace engineering, leading the indigenous design and development of the AEW&C aircraft during his tenure at DRDO.
Key Contributions
- The AEW&C aircraft, developed under his leadership, was inducted into the Indian Air Force (IAF) in 2017.
- The aircraft played a critical role in providing air cover to Mirage 2000 fighter jets during the Balakot air strike in 2019.
- He authored the book ‘The Incredible Journey of the Indian AWACS’, which was released during Aero India 2019.
- During his over two-decade-long tenure in the IAF, he served in the COM Squadron and was part of the crew that flew numerous VIPs.
CURRENT AFFAIRS: IMPORTANT DAYS
International Day of Education: 24th January
- International Day of Education is observed on the 24th January 2025
- The UN General Assembly declared the International Day of Education in December 2018 as a way to honor education and to think about how crucial learning is to progress and peace.
- Each of us has a responsibility to advance high-quality education.
- Institutions are not the only ones that can impart knowledge.
- Access to education, which most of us probably take for granted, can help many people escape poverty and open the door to a bright future.
- Statistics provided by UNESCO indicate that an estimated 258 million youngsters are not enrolled in school.
National Girl Child Day: 24th January
- National Girl Child Day is observed on the 24th January 2025.
- The Ministry of Women and Child Development of the Government of India established National Girl Child Day in 2008, marking the beginning of the day's history.
- Children who are girls regularly experience discrimination and injustice in Indian society.
- They are frequently denied the opportunity to further their education and are required to help out around the house starting at a very young age.
- The government aims to convey the urgent need to treat female children equally and give them the opportunities they rightfully deserve through Girl Child Day.
- As a result, the government coordinates awareness programs to spread the word on every National Girl Child Day.
Daily CA One-Liner: January 24
- The Indian Sustainable Natural Rubber (iSNR) initiative was launched in Kottayam, Kerala, aligning with globally accepted sustainability principles and the European Union Deforestation Regulation (EUDR).
- The Union Cabinet reviewed the National Health Mission (NHM) for the last three years and highlighted its critical contribution to achievingSustainable Development Goals (SDGs) ahead of the 2030 deadline.
- The Competition Commission of India (CCI) has earned global acclaim with the nomination of its “Determination of Monetary Penalty Guidelines, 2024” for the 2025 Concurrences Antitrust Awards in the Soft Laws & Studies category.
- Union Minister Shri Ashwini Vaishnaw (Railways, Information & Broadcasting, Electronics & IT) is participating in the World Economic Forum (WEF) 2025 in
- UNESCOand the Ministry of Electronics and Information Technology (MeitY), in partnership with Ikigai Law, organized a two-day AI Readiness Assessment Methodology (RAM) consultation.
- Indian National Centre for Ocean Information Services (INCOIS), based in Hyderabad, has been honored with the prestigious Subhash Chandra Bose AapdaPrabandhan Puraskar-2025 for its outstanding contributions to disaster management.
- Air India has unveiled eZ Booking, an AI-powered feature designed to streamline the ticket booking process, allowing customers to book their flights with fewer steps.
- The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra Modi, has approved the Minimum Support Price (MSP) for Raw Jute for the Marketing season 2025-26.
- Arshdeep Singh becameIndia’s highest wicket-taker in T20 internationals, surpassing Yuzvendra Chahal’s record of 96 wickets.
- India's bid to host the 2036 Olympics took a major leap forward with a four-day Olympic Research Conference in
- International Day of Education is observed on the 24th January 2025
- National Girl Child Day is observed on the 24th January 2025
- YES Bank, in collaboration with the Reserve Bank Innovation Hub (RBIH) and the P. Jain Institute of Management and Research (SPJIMR), has launched the Frictionless Finance Accelerator Programme on National Startup Day.
- iSPIRT has collaborated with UGRO Capital to launch the Priority Sector Lenders Association of India (PSLAI), a Section 8 company aimed at addressing credit challenges in priority sectors, particularly MSMEs.
- Tata AIA Life Insurance has launched ‘Shubh Muhurat,’ a life insurance solution and help parents save for their child’s wedding.
- ACKO, a leading digital-first insurance provider, has introduced an innovative e-challan service for seamless traffic fine payments in Karnataka.
- The Haryana Government has notified the Vehicle Scrappage and Recycling Facility Incentive Policy, 2024, which will enable proper disposal and recycling of old vehicles while promoting environmental sustainability National Green Tribunal (NGT) fixed the passing limit period of 10 years for old diesel vehicles and 15 years for petrol vehicles in the National Capital Region (NCR)
- Mahesh Kumar Aggarwal, a 1994-batch IPS officer from the Tamil Nadu cadre, has been appointed as the Additional Director General (ADG) of the Border Security Force (BSF).
- The Institute of Company Secretaries of India (ICSI) has announced the election of Dhananjay Shukla as its President for the year 2025. Joining him in leadership, Pawan G Chandak has been appointed as the Vice President of ICSI for 2025.
- DigiHaat, a buyer app launched by Nirmit Bharat, a subsidiary of the Open Network for Digital Commerce (ONDC), has announced the appointment of Rahul Vij as its new Chief Operating Officer (COO).
- Akhil Gupta, the Vice Chairman of Bharti Enterprises, has been appointed as the new Chairman of Bharti AXA Life Insurance.
- The Competition Commission of India (CCI) has approved the proposed combination involving Agro Tech Foods Limited (ATFL), Bharti Enterprises Limited (BEL), DMPL India Limited (DMPL India), and Del Monte Foods Private Limited (DMFPL).
- The Competition Commission of India (CCI) has approved the proposed amalgamation of several entities with Sequent Scientific Limited (SSL) as the ultimate surviving entity. The entities involved in the amalgamation include SRL, Viyash Life Sciences Private Limited (Viyash), Symed Labs Limited (Symed), Appcure Labs Private Limited (Appcure), Vindhya Pharma (India) Private Limited (Vindhya Pharma), Vandana Life Sciences Private Limited (Vandana), Vindhya Organics Private Limited (Vindhya Organics), Geninn Life Sciences Private Limited (Geninn), and V. Labs Private Limited (SV Labs).
- The Competition Commission of India (CCI) has approved the proposed acquisition of AI Lenarco Midco Ltd. by Majesty II Pte. Ltd. and the acquisition of certain compulsory convertible debentures in Manjushree Technopack Limited by Ashoka India Equity Investment Trust plc, Nuvama Private Investment Trust, and InCred Growth Partners Fund – I.
- The ePlane Company, incubated at IIT Madras, has become the first private Indian firm to receive formal acceptance from the Directorate General of Civil Aviation (DGCA) for the Type Certification of its electric Vertical Take-Off and Landing (eVTOL) aircraft, the e200X.
- Wing Commander (Retd) Dr K Ramchand, aged 82, the Founder Director of Centre for Airborne Systems (CABS), DRDO, Bengaluru, passed away.
Daily Current Affairs Quiz - 20th February 2025
Feb 21 2025
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Daily Current Affairs Feb 21st 2025 | Latest News | Download Free PDF
Feb 21 2025
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