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CURRENT AFFAIRS : BANKING & FINANCE

Aye Finance, Supported by Alphabet, Exceeds ₹10,000 Crore in Loans for Micro Enterprises                         

• Gurgaon-based Aye Finance, a non-banking financial company (NBFC), achieves a significant milestone by disbursing loans totaling ₹10,000 crore to micro-enterprises.

Key Highlights :

• Aye Finance, backed by Capital G, the investment arm of Google's parent company Alphabet, commenced its operations in 2014.
• The fintech company has successfully integrated over 800,000 grassroots businesses into organized lending through its tailored and cost-effective credit solutions.
• Aye Finance targets micro SMEs that often struggle to access credit from traditional financial institutions.
• It employs a unique cluster-based customer underwriting and risk management approach for customer acquisition, thereby catering to the specific needs of micro-enterprises.
• Founder and CEO of Aye Finance : Sanjay Sharma

CURRENT AFFAIRS: NATIONAL NEWS

The 7th edition of "Pariksha Pe Charcha," an event hosted by PM Modi, will be held in 2024.

• The 7th edition of Prime Minister Narendra Modi’s ‘Pariksha Pe Charcha 2024’ will be held on the 29th of this month.
• Ministry of Education said that this year, through the unique interactive program, over 4,000 participants will be interacting with the Prime Minister.
• The programme will be held in a town hall format at Delhi’s Bharat Mandapam
• Pariksha Pe Charcha is a programme where students, parents, and teachers from across the nation and also from overseas interact with the Prime Minister to discuss anxieties related to examinations and life after school.
• Pariksha Pe Charcha is part of the larger movement ‘Exam Warriors’ led by Mr Modi to create a stress-free atmosphere for youngsters.

Shri Amit Shah launched a book, 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India'

• Union Home Minister and Minister of Cooperation, Shri Amit Shah launched a book titled, 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India', written on the life and works of PM Modi in Braille script in New Delhi
• Shri Amit Shah said that PM Shri Narendra Modi Ji in the last 10 years has revived our civilisational values and cultural ethos to build the edifice of a new Bharat. In this path, Modi Ji has awakened the world to Bharat's inner self.
• Launched the book 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India' written on the life and works of Modi Ji in Braille script.
• The book will help people with visual impairment to know about the life journey of Modi Ji and the transformation he has ushered in.

Govt expands scope of financial services that can be taken up at IFSC

• The government expanded the scope of activities at the International Financial Services Centre (IFSC).
• The government has included services such as bookkeeping, and accounting to be undertaken at the International Financial Services Centre (IFSC).
• Various services including book-keeping, accounting, taxation, and financial crime compliance will be undertaken as part of the financial services at the International Financial Services Centre (IFSC).
• The move will help the IFSC in Gujarat to draw a large number of firms—from accounting to tax consultancy—to take advantage of its state-of-the-art facilities and spur services exports.
• The Ministry of Finance has issued a notification regarding expanding services at the International Financial Services Centre.
• The financial services are provided by the International Financial Services Centres Authority (IFSCA) to non-residents.

About IFSCA

• IFSCA is a statutory body. It was set up in April 2020 under the International Financial Services Centres Authority Act, 2019.
• It was established to regulate all financial services in International Financial Services Centres (IFSCs).
• At present, GIFT City, Gandhinagar in Gujarat is India’s first and only operational International Financial Services Center.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Saudi Arabia to Inaugurate Riyadh's First Alcohol Store Exclusively for Non-Muslim Diplomats                         

• Saudi Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats.

Key Highlights :

• Customers will have to register via a mobile app, get a clearance code from the foreign ministry, and respect monthly quotas with their purchases.
• The move is a milestone in the kingdom's efforts, led by Saudi Crown Prince Mohammed bin Salman, to open the ultra-conservative Muslim country for tourism and business as drinking alcohol is forbidden in Islam.
• It is also part of wider plans known as Vision 2030 to build a post-oil economy.
• The new store is located in Riyadh's Diplomatic Quarter, a neighbourhood where embassies and diplomats reside, and will be "strictly restricted" to non-Muslims.
• In 2016, Saudi Arabia launched its Vision 2030 under which it pledges to make the Kingdom - "a vibrant society, a thriving economy, and an ambitious nation".
• This alcohol store is also part of the Vision 2030 to build a post-oil economy.
• In December 2017, Saudi Arabia lifted a 35-year ban on commercial theaters.
• In 2017, the Kingdom also ended a ban on women drivers, allowed women to attend sporting events, and expanded their participation in the workforce.

About Saudi Arabia :

• Capital : Riyadh
• Currency : Saudi riyal

CURRENT AFFAIRS: AWARDS AND HONOURS

Shastri, Engineer honoured with Col CK Nayudu Lifetime Achievement Award

• Former India wicket-keeper Mr Farokh Engineer and all-rounder Mr Ravi Shastri were bestowed with the Col. C.K. Nayudu Lifetime Achievement Awards at the glittering Naman Awards ceremony in Hyderabad.
• Celebrating Indian Cricket and recognising performances both at the domestic and international level, the Naman Awards for the past four seasons (2019-20, 2020-21, 2021-22, and 2022-23).
• For their outstanding performances, Mr Mohd. Shami (2019-20), Mr R. Ashwin (2020-21), and Mr Shubman Gill (2022-23) received the Polly Umrigar A ward for Best International Cricketer- Men while Mr Jasprit Bumrah, who had received this award in the 2018–19 season, received his second for the 2021-22 season.
• Similarly, Ms Smriti Mandhana, who was named the Best International Woman Cricketer in 2017-18, claimed the top award for the second time for her breakthrough performances in 2020–21 and also 2021–22.
• Meanwhile, Deepti Sharma swept awards for the seasons 2019–20 and 2022–23.
• N. Ananthapadmanabhan, Vrinda Rathi, Jayaraman Madan Gopal, and Rohan Pandit were awarded the Best Umpire in Domestic Cricket for 2019–20, 2020–21, 2021–22, and 2022–23, respectively.
• Mumbai received the Best Performance Award in BCCI Domestic Tournaments for 2019-20 for winning the Vijay Merchant Trophy, the Women’s U23 T20 Trophy, finishing runner-up in the Vinoo Mankad Trophy, and making it to the semi-finals of the Col CK Nayudu Trophy and the Cooch Behar Trophy.
• Madhya Pradesh won the award for the 2021–22 season for winning the Ranji Trophy, finishing runner-up in the Women’s U19 one-day Trophy, and a semi-final finish in the Col CK Nayudu Trophy.
• Saurashtra claimed the top prize for the 2022–23 season for their title triumph in the Ranji Trophy, the Vijay Hazare Trophy, the Men’s U25 State A trophy, and finishing runner-up in the Irani Cup.

List Of winners

• Best International Debut, Men: Mayank Agarwal (2019-20), Axar Patel (2020-21), Shreyas Iyer (2021-22), Yashasvi Jaiswal (2022-23).
• Best International Debut, Women: Priya Punia (2019-20), Shafali Varma (2020-21), S Meghna (2021-22), Amanjot Kaur (2022-23).
• Dilip Sardesai Award (2022-23): Highest Runs: Yashasvi Jaiswal; Highest Wickets: R Ashwin.

Former Bihar Chief Minister Karpoori Thakur to be awarded Bharat Ratna posthumously

• Rashtrapati Bhavan announced in its communique that prominent socialist leader and former Bihar Chief Minister Karpoori Thakur will be posthumously awarded the Bharat Ratna.
• He will be the 49th recipient and 15th to be accorded posthumously.
• The announcement of conferring India's highest civilian award on Karpoori Thakur has been made a day before his 100th birth anniversary.

ABOUT Karpoori thakur

• He was a prominent socialist leader. Thakur is also revered by his followers as 'Jannanayak', who was known for his efforts to strengthen the backward castes.
• He was born on 24 January 1924 and died on February 17, 1988. Thakur was jailed during the Quit India Movement against British rule.
• He won the election for the first time in 1952 and since then has not lost a single election in his career.
• In 1978, Karpoori Thakur paved the way for reservation for backward castes in government services in Bihar.
• He served as Chief Minister of Bihar from December 1970 to June 1971 and from December 1977 to April 1979.

About Bharat Ratna award

• Bharat Ratna is the highest civilian Award of the country which was instituted in the year 1954.
• Any person without distinction of race, occupation, position or sex is eligible for these awards.
• Though usually conferred on India-born citizens, the Bharat Ratna has been awarded to one naturalised citizen, Mother Teresa, and to two non-Indians, Pakistan national Khan Abdul Ghaffar Khan and former South African President Nelson Mandela.
• The original statutes did not provide for posthumous awards but were amended in 1955 to permit them. Former Prime Minister Lal Bahadur Shastri became the first individual to be honoured posthumously.
• The recommendations for Bharat Ratna are made by the Prime Minister himself to the President and no formal recommendations for this are necessary.
• The number of annual awards is restricted to a maximum of three in a particular year.
• On conferment of the award, the recipient receives a Sanad (certificate) signed by the President and a medallion. The award does not carry any monetary grant.
• Earlier, the Finance Ministry notified issuance of a commemorative coin on the occasion of the birth centenary of late Thakur .The coin will be in the denomination of ₹100.
• Commemorative coins are intended to celebrate and honour people, places, events, and institutions.
• Although these coins are legal tender, they are not minted for general circulation. Also, the price of such a coin is much higher than value printed on it.
• The Bharat Ratna was last conferred to the late president Pranab Mukherjee in 2019.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Justice Prasanna Bhalachandra Varale Sworn In, Elevating Dalit Representation to Three in Supreme Court

• In exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the President is pleased to appoint Shri Justice Prasarma Bhalachandra Varale, Chief Justice of the Karnataka High Court, to be a Judge of the Supreme Court of India.
• He replaced Justice S K Kaul, who retired in Dec 2023.
• His elevation takes the number of Supreme Court judges back to its full strength of 34.
• He would become the third sitting judge from a Scheduled Caste community.
• The others are Justices B R Gavai and C T Ravikumar.
• Currently, Prasanna B Varale is the only High Court Chief Justice belonging to the Scheduled Caste community and he claims to be born in a family “blessed by Dr B R Ambedkar".

About Prasanna B Varale :

• He has practiced law (specifically civil, criminal, labour, and administrative matters) for over two decades, and previously served in the Bombay High Court.
• He took oath as the Chief Justice of the Karnataka High Court in October 2022.

CURRENT AFFAIRS : DEFENCE NEWS

India, France, and United Arab Emirate Collaborate in Joint Mega Air Exercise "Desert Knight" Over Arabian Sea

• The Indian Air Force (IAF) conducted Exercise Desert Knight in collaboration with the French Air and Space Force (FASF) and the United Arab Emirates (UAE) Air Force.
• The exercise occurred within the Indian Flight Information Regions (FIR) and involved IAF aircraft operating from various bases in India.
• The exercise in Indian FIR was conducted over the Arabian Sea.

Key Highlights :

• Aircraft Involved : The French participation included Rafale fighter aircraft and a Multi-Role Tanker Transport, while the UAE Air Force deployed the F-16 fighter jets.
• These aircraft operated from the Al Dhafra air base in the UAE.
• The IAF component comprised Su-30 MKI, MiG-29, and Jaguar fighter jets, alongside AWACS (Airborne Early Warning and Control Aircraft), C-130-J transport planes, and air-to-air refueling aircraft.
• Main focus of Exercise : To enhance synergy and interoperability among the three participating Air Forces.
• The exercise provided an opportunity for the exchange of operational knowledge, experiences, and best practices among the participants.
• Such exercises are indicative of the growing diplomatic and military interactions in the region, apart from showcasing the prowess of the IAF.

About France :

• President : Emmanuel Macron
• Prime Minister : Gabriel Attal
• Capital : Paris

About UAE :

• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham

2nd edition of the India-Egypt Joint Special Forces Exercise Exercise Cyclone II Commenced in Egypt                            

• The Indian Army contingent comprising 25 personnel reached Egypt to take part in the India-Egypt Joint Special Forces Exercise CYCLONE.
• It is the 2nd edition of the Exercise Cyclone which will be conducted at Anshas, Egypt from 22nd January to 1st February 2024.
• Cyclone is an annual exercise held alternatively in India & Egypt.
• Aim of the Exercise : To acquaint both the sides with each other’s operating procedures in the backdrop of Special Operations in desert/ semi desert terrain under Chapter VII of United Nations Charter.
• Participants : The Indian contingent is being represented by troops from the Parachute Regiment (Special Forces) and an Egyptian contingent comprising 25 personnel is being represented by Egyptian Commando Squadron and Egyptian Airborne Platoon.

About Exercise Cyclone II :

• The Exercise will involve planning and execution of special operations in sub conventional domain and conducted in three phases.
• While the first phase will include Military Exhibitions and Tactical Interactions, the second phase will focus on training on Improvised Explosive Device (IED), counter IED and Combat First Aid.
• The third and final phase will encompass Joint Tactical Exercise based on Fighting in Built-up Area and Hostage Rescue Scenarios.
• The Exercise will provide an opportunity to both the contingents to strengthen their bond and share best practices.
• It will also act as a platform to achieve shared security objectives and foster bilateral relations between two friendly nations.

Note :

• The first edition of the exercise was conducted in January 2023 in Jodhpur, Rajasthan.

About Egypt :

• President : Abdel Fattah el-Sisi
• Capital : Cairo
• Currency : Egyptian pound

About Ministry of Defence :

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

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

North Korea Conducts Test of Underwater Nuclear Weapon System                                         

• North Korea has conducted a test of its underwater nuclear weapons system in a protest against this week's joint military drills by South Korea, the United States and Japan.
• The test of the "Haeil-5-23" , a name North Korea has given to its nuclear-capable underwater attack drones, was carried out by the defence ministry's think tank in the waters off its east coast.
• Haeil", which means tsunami, is the new Nuke drone system that was first reportedly tested in March 2023.
• It was intended to make sneak attacks in enemy waters and destroy naval strike groups and major operational ports by creating a large radioactive wave through an underwater explosion.

Recent News :

• In Sep 2023, North Korea launched its first operational “tactical nuclear attack submarine”,Submarine No. 841 – named Hero Kim Kun Ok.

About North Korea :

• Capital : Pyongyang
• Currency : Korean People's won

CURRENT AFFAIRS: MOUS AND AGREEMENT.

REC Limited and National Investment and Infrastructure Fund Limited to fund renewable and infrastructure projects together.

• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL) to collaborate on a suite of funding solutions for Renewable Energy Projects as well as large-scale infrastructure projects in India.
• The MoU was signed by Executive Director (Finance), REC, Shri Daljeet Singh Khatri and Executive Director & Chief Strategy Officer, NIIFL, Shri Prasad Gadkari, in the presence of CMD, REC, Sh. Vivek Kumar Dewangan and CEO and MD, NIIFL, Shri Rajiv Dhar.

About REC Limited

• REC is a 'Maharatna' CPSE under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC).

CURRENT AFFAIRS: SPORTS NEWS

Virat Kohli wins ICC ODI Player of the Year award for 4th time

• Indian batting star Virat Kohli bagged the ICC ODI Player of the Year award for the fourth time, following his record-breaking performance in the World Cup 2023.
• Kohli had previously won the award in 2012, 2017, and 2018 and also stands amongst the four nominees for the ICC Cricketer of the Year 2023 award.
• Notably, Kohli has become the first-ever cricketer to clinch this award four times, surpassing AB de Villiers' tally of three awards.
• Virat Kohli built on his comeback in 2022 with a spectacular 2023, where he won the Player of the Tournament performance at the ICC Men’s Cricket World Cup 2023.

CURRENT AFFAIRS: IMPORTANT DAYS

International Holocaust Remembrance Day 2024: January 27

• International Holocaust Remembrance Day 2024 is observed every year on the 27th January.
• The UN General Assembly adopted resolution 60/7 on November 1, 2005, to designate January 27 as the International Holocaust Remembrance Day (IHRD).
• On January 27, 2006, the first commemoration of International Holocaust Remembrance Day was held at the UN Headquartered in New York City.
• After that UN Headquarters commemorates this day every year.
• While UN offices and other state offices across the world conduct their ceremonies.

Daily CA on Jan 27 :

• The 7th edition of Prime Minister Narendra Modi’s ‘Pariksha Pe Charcha 2024’ will be held on the 29th of this month
• Union Home Minister and Minister of Cooperation, Shri Amit Shah launched a book titled, 'A Promised Nation Hon'ble Shri Narendra Modi- the Maker of New India', written on the life and works of PM Modi in Braille script in New Delhi
• The government expanded the scope of activities at the International Financial Services Centre (IFSC).
• Former India wicket-keeper Mr Farokh Engineer and all-rounder Mr Ravi Shastri were bestowed with the Col. C.K. Nayudu Lifetime Achievement Awards at the glittering Naman Awards ceremony in Hyderabad
• Rashtrapati Bhavan announced in its communique that prominent socialist leader and former Bihar Chief Minister Karpoori Thakur will be posthumously awarded the Bharat Ratna.
• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Limited (NIIFL) to collaborate on a suite of funding solutions for Renewable Energy Projects as well as large-scale infrastructure projects in India
• Indian batting star Virat Kohli bagged the ICC ODI Player of the Year award for the fourth time, following his record-breaking performance in the World Cup 2023
• International Holocaust Remembrance Day 2024 is observed every year on the 27th January.
• Gurgaon-based Aye Finance, a non-banking financial company (NBFC), achieves a significant milestone by disbursing loans totaling ₹10,000 crore to micro-enterprises.
• Saudi Arabia is preparing to open its first alcohol store in the capital Riyadh which will serve exclusively non-Muslim diplomats.
• In exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the President is pleased to appoint Shri Justice Prasarma Bhalachandra Varale, Chief Justice of the Karnataka High Court, to be a Judge of the Supreme Court of India.
• The Indian Air Force (IAF) conducted Exercise Desert Knight in collaboration with the French Air and Space Force (FASF) and the United Arab Emirates (UAE) Air Force.
• The Indian Army contingent comprising 25 personnel reached Egypt to take part in the India-Egypt Joint Special Forces Exercise CYCLONE.
• North Korea has conducted a test of its underwater nuclear weapons system in a protest against this week's joint military drills by South Korea, the United States and Japan.