Daily Current Affairs: 20 January 2024

Daily Current Affairs
20th January 2024

20th January 2024
BANKING & FINANCE

ICICI Prudential Life Insurance Launches ICICI Pru Guaranteed Pension Plan Flexi
Featuring 'Benefit Enhancer
 ICICI Prudential Life Insurance has
launched ICICI Prudential Guaranteed
Pension Plan Flexi with Benefit
Enhancer.
Key Highlights :
 Innovative Annuity Plan with Premium
Refund Option : This product is being
billed as the industry’s first annuity plan
that provides customers with the option to
receive a 100% refund of premiums paid
at any time starting from the date of
purchase.
 Loan Facility for Financial Flexibility :
The plan includes a loan facility to assist
customers in managing unexpected
financial obligations, allowing them to stay
invested in the product and continue
working towards their retirement planning
goals.
 Alignment with IRDAI Regulations :
The product is designed in accordance with proposed IRDAI regulations,
emphasizing fair and appropriate surrender values, especially in cases of early policy
exits.
 Importance of Retirement Planning : Retirement planning is an essential objective,
and unforeseen financial emergencies can jeopardise this goal.
 To assist customers in overcoming unexpected financial obligations, the product
offers a loan facility.
 This allows customers to stay invested in the product and work towards achieving
their retirement planning objectives.
 Importance of Retirement Planning : Retirement planning is an essential objective,
and unforeseen financial emergencies can jeopardise this goal.
 To assist customers in overcoming unexpected financial obligations, the product
offers a loan facility.
 This allows customers to stay invested in the product and work towards achieving
their retirement planning objectives.
 Regulatory Compliance : Notably, this product aligns with the forthcoming
regulations, which seek to guarantee that customers are provided with a fair and
suitable surrender value, especially when opting for an early exit from the policy.
About ICICI Prudential Life Insurance :
 Founded : 2000
 Headquarters : Mumbai, Maharashtra
 MD & CEO : Anup Bagchi
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20th January 2024
 Established as a joint venture between ICICI Bank Limited and Prudential

Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance
and asset management business.
 In 2016, the company became the first insurance company in India to be listed in
the domestic stock exchanges.
 Established as a joint venture between ICICI Bank Limited and Prudential
Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance
and asset management business.
 In 2016, the company became the first insurance company in India to be listed in
the domestic stock exchanges.
SEBI Renews Recognition for AMC Repo Clearing for 1 Year to Facilitate Transaction
Clearing
 Capital markets regulator Securities and Exchange
Board of India (SEBI) has renewed its recognition
for AMC Repo Clearing Limited as a clearing
corporation for one year, allowing it to clear and settle
transactions in repo and reverse repo in debt
securities.
 The renewal period granted by SEBI is from January
17, 2024, to January 16, 2025.
Key Highlights :
 Clearing Corporation Activities : Under the rules,
AMC Repo Clearing Ltd will not undertake any activity
except that of clearing and settling of transactions in
repo and reverse repo in the debt securities that are
dealt with or traded on a recognised stock exchange.
 SEBI's Previous Recognition Grant : Earlier, the
SEBI granted recognition to such clearing
corporations in January, 2022.
 Introduction of Limited Purpose Clearing
Corporation (LPCC) : In October 2020, SEBI
introduced the concept of a Limited Purpose Clearing
Corporation (LPCC) for the clearing and settlement of
repo transactions in debt securities.
 Guidelines for Mutual Fund Participation : In
February 2021, SEBI issued guidelines specifying
that asset management companies (AMCs) are
required to contribute Rs 150 crore as share capital
for the establishment of LPCC by mutual funds.
 Objective of LPCC : The decision to allow the mutual
fund industry to establish LPCC aimed at assisting
funds in handling redemption pressures and
facilitating the settlement of transactions in the
corporate bond market.
20th January 2024
About SEBI :
 Established: 12 April 1988 as an executive body and was given statutory powers on
30 January 1992 through the SEBI Act, 1992
 Headquarters: Mumbai, Maharashtra
 Chairman: Madhabi Puri Buch
 SEBI is the regulatory body for securities and commodity markets in India under the
ownership of the Ministry of Finance, Government of India.
RBI Plans Stricter Regulations for Housing Finance Companies Accepting Deposits
 The Reserve Bank of India
(RBI) has proposed a phased
transition to tighten
regulations for housing
finance companies (HFCs),
aligning them more closely with
non-banking financial
companies (NBFCs).
Key Highlights :
 Uniform Prudential
Parameters : The
aforementioned prescriptions
are part of RBI’s plan to move
HFCs (accepting or holding
public deposits) towards the
regulatory regime on deposit
acceptance as applicable to
deposit-taking non-banking
finance companies (NBFCs)
and specify uniform prudential
parameters.
 Increase in Liquid Assets Requirement : As per the draft circular, deposit-taking
HFCs are required to raise their total liquid assets, including unencumbered
approved securities, to 15% of public deposits by the end of March 2025, up from
the current 13%.
 Reduction in Public Deposit Ceiling : The ceiling on the quantum of public
deposits held by deposit taking HFCs, which comply with all prudential norms and
minimum investment grade credit rating, will stand reduced from three times to 1.5
times of net owned funds, per the draft circular.
 Restrictions on Excess Deposits : HFCs holding deposits beyond the revised limit
cannot accept new public deposits or renew existing ones until the quantum of public
deposits is below the revised limit.
 Existing excess deposits can run off till maturity.
 Shortened Deposit Tenure : The longest time period for which HFCs can accept
deposits will be cut to 60 months from the current 120 months.
20th January 2024
 Existing deposits with maturities above 60 months can be repaid as per their existing
repayment profile.
 Existing deposits with maturities above 60 months can be repaid as per their existing
repayment profile.
 The minimum period for which HFCs can accept deposits continues at 12 months.
 Asset Cover and Credit Rating Requirements : Deposit-taking housing finance
companies (HFCs) may have to ensure that full asset cover is available for public
deposits accepted by them at all times and obtain minimum investment grade
credit rating at least once a year.
About NBFC Operational Requirements :
 An NBFC is required to open a Constituent’s Subsidiary General Ledger (CSGL)
account with a scheduled commercial bank, or the Stock Holding Corporation of
India Ltd. (SHCIL) or a dematerialized account with a depository through a
depository participant.
 The NBFC has to keep the unencumbered approved securities required to be
maintained by it in such a CSGL account or dematerialised account.
 Further, the NBFC has to designate one of the scheduled commercial banks, in the
place where the registered office of the non-banking financial company is situated,
as its designated banker, entrusting, in physical form, to the bank or SHCIL the
unencumbered term deposits and such unencumbered approved securities which
have not been dematerialised.
About RBI :
 Established : 1 April 1935
 Headquarters : Mumbai, Maharashtra, India
 Governor : Shaktikanta Das
LIC Overtakes SBI in Market Valuation, Emerges as the Most Valuable Public Sector
Undertaking (PSU) Firm
 Life Insurance Corporation of India (LIC) has surpassed State Bank of India
(SBI) to become the most valued public sector undertaking (PSU) firm in India
by market valuation.
Key Highlights :
 Stock Performance : LIC's shares experienced a 3% surge, reaching a 52-week
high of Rs 919.45 on the BSE during intra-day trade.
 However, the stock later declined by 0.63%, closing at Rs 886.90.
 The stock of SBI fell by 1.67 per cent to Rs 626.15 apiece.
 Market Capitalization Comparison : The market capitalization of LIC stood at Rs
5,60,964.05 crore, which is Rs 2,149.47 crore more than SBI's Rs 5,58,814.58 crore
valuation.
 LIC currently holds the 9th position among the top ten most valued firms.
 Reliance Industries is the country's most valued firm with a market valuation of Rs
18,42,160.54 crore followed by TCS (Rs 14,21,230.44 crore), HDFC Bank (Rs
11,66,888.98 crore), ICICI Bank (Rs 6,87,740.99 crore), Infosys (Rs 6,80,631.89
crore), Bharti Airtel (Rs 6,10,389.59 crore), Hindustan Unilever (Rs 6,02,388.21
20th January 2024
crore), ITC (Rs 5,82,423.61 crore),

LIC (Rs 5,60,964.05 crore) and SBI
(Rs 5,58,814.58 crore).
 Listing Details : The country's
largest insurer was listed in May
2022.
 The government had sold over 22.13
crore shares, or a 3.5 per cent stake
in LIC, through an Initial Public
Offering (IPO).
 The government holds 96.5 per cent
stake in the company.
 Share Performance Since Listing :
LIC shares were listed at Rs 875.25
apiece on May 17, 2022, compared
to the IPO price of Rs 949.
 Currently, the stock is only 6.21%
away from its IPO price.
 Government Stake in LIC : The government holds a 96.5% stake in the Life
Insurance Corporation (LIC).
About LIC :
 Established : 1956
 Headquarters : Mumbai, Maharashtra
 Chairman : Siddharth Mohanty
 Current MDs : Ipe Mini, M Jagannath, Tablesh Panday, Sat Pal Bhanoo
NATIONAL NEWS
The Prime Minister inaugurated the new Boeing India Engineering & Technology
Center campus in Bengaluru, Karnataka.
 Indian Prime Minister,
Shri Narendra Modi
inaugurated the new
state-of-the-art
Boeing India
Engineering &
Technology Center
(BIETC) campus in
Bengaluru,
Karnataka.
 Built with an
investment of Rs 1,600 crores, the 43-acre campus is Boeing’s largest such
investment outside the USA.
 The Prime Minister also launched the Boeing Sukanya Program which aims to
support the entry of more girl children from across India into the country’s growing
aviation sector.
20th January 2024
 The Prime Minister took a walkthrough of the Experience Center and interacted with
Sukanya beneficiaries.
 The Prime Minister inaugurated the new state-of-the-art Boeing India
Engineering & Technology Center (BIETC) campus in Bengaluru. Built with an
investment of Rs. 1,600 crores, the 43-acre campus is Boeing’s largest such
investment outside the USA.
Key Highlights
 Boeing’s new campus in India will become a cornerstone for partnership with the
vibrant startup, private and government ecosystem in India, and will help develop
next-generation products and services for the global aerospace and defence
industry.
 The Prime Minister also launched the Boeing Sukanya Program which aims to
support the entry of more girl children from across India into the country’s growing
aviation sector.
 The program will provide opportunities for girls and women from across India to learn
critical skills in the science, technology, engineering and maths (STEM) fields and
train for jobs in the aviation sector. For young girls, the program will create STEM
Labs at 150 planned locations to help spark interest in STEM careers. The program
will also provide scholarships to women who are training to be pilots.
Prime Minister lays foundation stone for eight projects under AMRUT scheme worth
approximately Rs. 2,000 crores in Solapur, Maharashtra.
 The Prime Minister,
Shri Narendra Modi
laid the foundation
stone of 8 AMRUT
(Atal Mission for
Rejuvenation and Urban
Transformation)
projects worth around
Rs. 2,000 crores in
Solapur, Maharashtra.
 Shri Modi dedicated to
the nation more than 90,000 houses completed under PMAY-Urban in Maharashtra
and 15,000 houses of Raynagar Housing Society in Solapur, whose beneficiaries
comprise thousands of handloom workers, vendors, power loom workers, rag
pickers, Bidi workers, drivers, among others.
 He also initiated the distribution of 1st and 2nd instalments to 10,000 beneficiaries
of PM-SVANIDHI in Maharashtra during the programme.
 Governor of Maharashtra, Shri Ramesh Bais, Chief Minister of Maharashtra, Shri
Eknath Shinde, Deputy Chief Ministers of Maharashtra, Shri Devendra Fadnavis and
Shri Ajit Pawar and Founder of Raynagar Federation, Shri Narsayya Adam were
present on the occasion among others.
20th January 2024
INTERNATIONAL NEWS
Japan inks deal to buy 400 long-range missiles from U.S.
 Japan signed a deal with its ally the
United States to buy 400 long-
range Tomahawk missiles as it
ramps up its military capacity to
counter regional security threats.
 Faced with growing Chinese
military clout and a nuclear-armed
North Korea, the Japanese
government plans to double its
defense spending to the NATO
standard of 2% of GDP by 2027.
 A sale of up to $2.35 billion (¥348
billion) for two types of Tomahawks,
which have a 1,600-kilometer (995-
mile) range, was approved by
Washington in November 2023.
 Japan has approved a record
defense budget worth $56 billion for the next fiscal year from April.
 Japan has a pacifist post-war constitution, which limits its military to ostensibly
defensive measures.
 But when it updated key security and defense policies last year, Tokyo explicitly
outlined the challenge posed by China.
 At a news conference earlier in the day, U.S. ambassador Rahm Emanuel lauded
Japan's new defense push.
 Last month Tokyo loosened arms export controls to enable it to sell Patriot missiles
made in Japan under license to the United States, which is seeking to replenish its
stocks after sending the weapon systems to Ukraine.
About Japan:
 Capital: Tokyo
 Currency: Yen
 Prime Minister: Fumio Kishida
About USA:
 Capital: Washington, DC
 Currency: Dollar
 President: Joe Biden
STATE NEWS
Andhra Pradesh CM Jagan to unveil 125-ft statue of Ambedkar in Vijayawada
 Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy will unveil a 125 foot
statue of Dr B R Ambedkar at Swaraj Maidan in Vijayawada.
 The statue, constructed at an estimated cost of Rs 404 crore, stands on an 81-foot
pedestal, making it a 206-feet monument.
20th January 2024
 It is named as the ‘Statute of Social Justice’ and Swaraj

Maidan will be named after Dr B R Ambedkar.
 The state government has stated that it is the tallest non-
religious statue project in the country.
 The project has a park with Dr BR Ambedkar experience
centre, a convention centre with a seating capacity of
2,000, a food court, a play area for children, water bodies,
musical fountain and long walking paths, officials informed.
 The 125-foot statue is made of steel frame and bronze
cladding and is completely made in India. Around 400 MT
of stainless steel and 120 metric tonnes of bronze were
used for the construction of the statue. The 81 foot
pedestal building Is designed as Kalachakra Maha
Mandal of Buddhist architecture.
 The project, which was started in December 2021, has
been implemented by the Social Welfare Department
(nodal agency) of the state government and Andhra
Pradesh Industrial infrastructure Corporation.
About Andhra Pradesh:
 Governor: S. Abdul Nazeer
 Chief minister: YS Jagan Mohan Reddy
 Capital: Amaravati
 National Park : Nagarjunasagar Srisailam Tiger Reserve, Papikonda National Park,
Rajiv Gandhi (Rameswaram) National Park, Sri Venkateswara Wildlife Sanctuary,
National Park
 Wildlife Sanctuaries : Gundla Brahmeswaram Wildlife Sanctuary, Coringa Wildlife
Sanctuary, Koundinya Wildlife Sanctuary, Krishna Wildlife Sanctuary, Pulicat Lake
Wildlife Sanctuary
Bengal CM Mamata Banerjee inaugurates 47th Kolkata International Book Fair

 Inaugurating the International Kolkata Book Fair, West Bengal Chief Minister
Mamata Banerjee stated that relations between India and the UK have spanned
over a long time since the Battle of Plassey in 1757.
 The UK is the theme country of this 47th edition of the book fair.
 Banerjee stated since 1757, the British had ruled India till Independence during
which several architectural edifices have been constructed by them.
 Banerjee stated she had received invitations from a premier UK university which
she is likely to visit after June this year.
 Nearly 20 countries are participating in this year's book fair which has become a big
festival in the metropolis, she added.
 The chief minister stated she had published 143 books so far and intends to make
the figure 150 next year, she added.
About West Bengal :
 Governor: C. V. Ananda Bose
 Chief minister: Mamata Banerjee
20th January 2024
 Capital: Kolkata
 National Park : Jaldapara
National Park, Sunderban
National Park (also a Tiger
Reserve), Singalila National
Park, Neora Valley National
Park, Gorumara National Park,
Buxa National Park
 Wildlife Sanctuaries :
Senchal Wildlife Sanctuary,
Lothian Island Wildlife
Sanctuary, Mahananda
Wildlife Sanctuary,
Sajnekhali Wildlife
Sanctuary, Pakhi Bitan
Wildlife Sanctuary
Moh-Juj Fights: A Cultural Resurgence in Assam

 The Assam Government, led
by Chief Minister Himanta
Biswa Sarma, reinstated the
traditional buffalo fight (Moh-
Juj) after a nine-year hiatus.
 The event, held in the
Ahotguri area of Nagaon
district, marks a significant
cultural revival.
 The Supreme Court had
previously banned such
events, akin to Tamil Nadu’s
Jallikattu and Maharashtra’s
bullock cart races.
From ban to reinstatement
 The Supreme Court had
outlawed Jallikattu and bullock-
cart races in 2014, including
events of a similar nature.
 However, a breakthrough came in May last year when five-judge bench upheld
amendments by Tamil Nadu, Maharashtra, and Karnataka to the Prevention of
Cruelty to Animals (PCA) Act, 1960.
 This allowed the resumption of bull-taming sports.
 Responding to a Gauhati high court query in October, the Assam Government
committed to framing Standard Operating Procedures (SOP).
 Subsequently, on December 8, 2023, the state cabinet approved the revival of
traditional buffalo fights under strict SOP.
20th January 2024
 According to Sarma, Moh-Juj was introduced to Assamese culture by the 30th

Ahom king Swargadeo Rudra Singha nearly 200 years ago.
 Alongside buffalo fights, Swargadeo Rudra Singha introduced elephant-fights and
bird fights, events that played a unifying role in society.
 The chief minister stressed the delicate balance achieved between animal welfare
and the celebration of ancient culture.
 In addition to Moh-Juj, the Assam Government also revived the traditional bird-
fight, Bulbuli fight, which had faced a ban in 2016.
 The event, organised in Hayagriva Madhav, was attended by Chief Minister Sarma
and his family.
 Sarma reiterated the government's commitment to breathing life into ancient
customs and rituals.
PETA's concerns
 People for the Ethical Treatment of Animals (PETA), India, raised concerns about
the events being a violation of the Prevention of Cruelty to Animals (PCA) Act,
1960.
 PETA urged Chief Minister Sarma to halt Moh-Juj and Bulbuli bird fights during the
Bhogali Bihu festival, emphasising the legal implications based on Supreme Court
judgments.
About Assam:
 Governor: Gulab Chand Kataria
 Chief minister: Himanta Biswa Sarma
 Capital: Dispur
 National Park : Kaziranga National Park, Manas National Park, The Orang National
Park, Raimona National Park, Namdapha National Park
 Wildlife Sanctuary: Sonai Rupai Wildlife Sanctuary, Pani-Dihing Wildlife Sanctuary,
Nambor Wildlife Sanctuary, Marat Longri Wildlife Sanctuary, Lawkhowa Wildlife
Sanctuary
AWARDS AND HONOURS

REC has been awarded the SCOPE Excellence Award for Digitalization.
 REC Limited, a Maharatna
Central Public Sector
Enterprise under the
Ministry of Power and a
leading NBFC, has been
honored with the
prestigious Scope
Excellence Award in the
category of Special
Institutional Category
(Digitalization).
 The award acknowledges REC Limited's unwavering commitment to the
digitalization of its workplace and the promotion of best practices in establishing a
paperless office.
20th January 2024
 The award was presented by the Vice President of India, Shri Jagdeep
Dhankhar, at a ceremony held at Vigyan Bhawan in New Delhi.
 Director (Finance), Shri Ajoy Choudhury and Executive Director (BDM), Shri
Saurabh Rastogi of REC Limited graciously accepted the award from the Vice
President of India at the ceremony.
 This accomplishment underscores REC Limited's dedication to embracing
technological advancements and fostering a culture of innovation within the
organization.
About SCOPE
 SCOPE was established in 1973 as an apex body of Public Sector Enterprises
(PSEs), and is dedicated to promoting competitiveness and excellence within the
PSE sector.
 The SCOPE Excellence Award recognizes and commemorates exemplary
performances of Public Sector Enterprises.
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). REC finances the entire Power-Infrastructure sector comprising Generation,
Transmission, Distribution, Renewable Energy and new technologies like Electric
Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green
Ammonia projects.
APPOINTMENTS & RESIGNATIONS

RuPay Prime Volleyball League ropes in Hrithik Roshan as brand ambassador for
Season 3
 Indian superstar Hrithik
Roshan joins the 3rd season of
RuPay Prime Volleyball
League powered by A23 as the
brand ambassador.
 Hrithik, an avid sports fan
himself, enjoys the physical
nature of volleyball and
describes the partnership as a
natural fit for him.
 The event is all set to begin on
February 15, 2024 and will be
telecast LIVE on Sony Sports
Network.
 The RuPay Prime Volleyball
League powered by A23 is co-owned and exclusively marketed by Baseline
Ventures, a sports marketing firm.
 Tuhin Mishra, managing director and co-founder, Baseline Ventures.
20th January 2024
DEFENCE NEWS
India’s domestic air passenger traffic to touch 300 million by 2030: Civil Aviation
Minister
 Addressing Wings
India 2024 at
Begumpet Airport in
Hyderabad, he
stated the domestic
passenger traffic,
which was 60
million in 2014 grew
to 145 million pre-
Covid and it further
went up to 153
million in 2023.
 He stated despite the projected growth of 300 million by 2030, India will be one of
the most under penetrated markets across the top 20 markets in the world.
 The domestic passenger traffic in the last 10 years grew at CAGR of 15.3 per cent
while international traffic grew at 6.1 per cent.
 India is the third-largest domestic civil aviation market and seventh-largest
international civil aviation market. If both are combined, India is the fifth-largest civil
aviation market in the world.
 The minister stated that India has become the largest purchaser of aircraft in the
world after the United States and China.
 He expects that India’s fleet will go up from 713 to more than 2,000 in the next
decade.
 He noted that the country, which had 400 aircraft in 2013-14, has grown its fleet to
713 aircraft.
ACQUISITIONS & MERGERS

Airbus and Tata’s Joint Venture: Paving the skies with cutting-edge pilot training in
Gurugram
 In adherence to its ‘Skill India’
commitment, Airbus has formed a 50:50
joint venture with Tata-owned Air India,
marking a significant stride in launching a
world-class pilot training center in
Gurugram, Haryana.
 The Tata Airbus Training Centre is geared
to provide A320 and A350 flight training
for approximately 5,000 new pilots over
the span of the next 10 years.
 Covering a vast 3,300 sq.mt., the center
is set to feature 10 Full Flight Simulators
20th January 2024
(FFS), dedicated flight training classrooms, as well as briefing and debriefing rooms,
forming a comprehensive Airbus Flight Training Device setup.
 With a slated operational kickoff in early 2025, the training center’s initial phase will
see the installation of four A320 FFS.
 Courses offered at the Tata Airbus Training Centre will receive approval from both
the Directorate General of Civil Aviation (DGCA) and the European Union
Aviation Safety Agency (EASA).
 Simultaneously, Airbus has entered a partnership with GMR Aero Technic to
provide Aircraft Maintenance Engineering training courses at GMR’s facility in
Hyderabad.
SCIENCE & TECHNOLOGY

First tests for Indian Space Station expected next year: ISRO chief
 ISRO plans to carry out the first tests of the proposed Bharatiya
Space Station next year and talks are on with the industry to
manufacture, test and launch its first module by 2028, the space
agency's chief S Somanath stated.
 Interacting with reporters on the sidelines of the India
International Science Festival, he stated India's first mission to
Venus is also likely to be launched in 2028 and engineers are
working on bringing down costs on certain high-value
components.
 Last year, Prime Minister Narendra Modi set ISRO a target to
launch the Bharatiya Space Station by 2035 and land an Indian
astronaut on the moon by 2040
About ISRO:
 Headquarters: Bengaluru
 Founder: Vikram Sarabhai
 Founded: 15 August 1969
 Chairperson: S. Somanath
 Owner: Government of India
Japan aims for Lunar success with smart lander mission on January 20
 In a bid to overcome setbacks, Japan is set to attempt a soft landing on the moon's
surface with the Smart Lander for Investigating Moon early on January 20.
 The country seeks to join the exclusive club of nations achieving a successful soft
landing on the moon.
 The United States, Russia (erstwhile USSR), China, and India have
accomplished this feat, leaving Japan eager to overcome its exclusion.
 Designed to land within 100 meters of its target, SLIM aims to revolutionise lunar
exploration.
20th January 2024
 JAXA Director Hiroshi

Yamakawa envisions the
mission enabling precise
landings, marking a new era
in lunar exploration.
Historical Rivalry and Recent
Challenges
 Japan, having launched its
first satellite ahead of China
in 1970, has faced
challenges in recent years.
 China's notable
achievements, including a
soft landing on the moon's
far side in 2019 and a Mars
landing in 2021, have added
pressure on Japan.
 Despite past lunar attempts,
Japan's space agency,
JAXA, faced setbacks with
a lunar lander in 2022 and a communication failure with a craft in April 2023.
Technical challenges, including the failure of the H3 heavy-lift rocket and an
explosion involving the Epsilon rocket, have also impeded progress.
 Major Japanese corporations, including Toyota and Honda, are now collaborating
with JAXA on lunar projects.
 Success in lunar exploration could strengthen Japan's position in the evolving
"moon economy." Corporate partnerships with entities such as Japan Airlines,
Mitsui Sumitomo Insurance, and Citizen.
Strategic Importance and Security Concerns
 Internationally, Japan aims to enhance its security presence in space.
 The recent addition of spy satellites to Japan's network aligns with the regional
race for space technologies.
 In the face of competition, reinforcing space-based surveillance and
communication capabilities is crucial for military purposes.
 As Japan sets its sights on the lunar landing, the mission will be live-streamed on
JAXA's YouTube channel, providing transparency and engagement with the public.
The expected landing shortly after midnight on January 20 Tokyo time marks a
significant moment in Japan's space exploration endeavours.
Daily CA One Liner: January 20

 ICICI Prudential Life Insurance has launched ICICI Prudential Guaranteed
Pension Plan Flexi with Benefit Enhancer.
 Capital markets regulator Securities and Exchange Board of India (SEBI) has
renewed its recognition for AMC Repo Clearing Limited as a clearing corporation
20th January 2024
for one year, allowing it to clear and settle transactions in repo and reverse repo in
debt securities.
 The Reserve Bank of India (RBI) has proposed a phased transition to tighten
regulations for housing finance companies (HFCs), aligning them more closely
with non-banking financial companies (NBFCs).
 Life Insurance Corporation of India (LIC) has surpassed State Bank of India
(SBI) to become the most valued public sector undertaking (PSU) firm in India
by market valuation.
 Japan signed a deal with its ally the United States to buy 400 long-range
Tomahawk missiles as it ramps up its military capacity to counter regional security
threats.
 Indian Prime Minister, Shri Narendra Modi inaugurated the new state-of-the-art
Boeing India Engineering & Technology Center (BIETC) campus in Bengaluru,
Karnataka
 The Prime Minister, Shri Narendra Modi laid the foundation stone of 8 AMRUT
(Atal Mission for Rejuvenation and Urban Transformation) projects worth around
Rs. 2,000 crores in Solapur, Maharashtra.
 REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of
Power and a leading NBFC, has been honoured with the prestigious Scope
Excellence Award in the category of Special Institutional Category
 Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy will unveil a 125-foot
statue of Dr B R Ambedkar at Swaraj Maidan in Vijayawada.
 Inaugurating the International Kolkata Book Fair, West Bengal Chief Minister
Mamata Banerjee stated that relations between India and the UK have spanned
over a long time since the Battle of Plassey in 1757.
 The Assam Government, led by Chief Minister Himanta Biswa Sarma, reinstated
the traditional buffalo fight (Moh-Juj) after a nine-year hiatus.
 Indian superstar Hrithik Roshan joins the 3rd season of RuPay Prime Volleyball
League powered by A23 as the brand ambassador.
 Addressing Wings India 2024 at Begumpet Airport in Hyderabad, he stated the
domestic passenger traffic, which was 60 million in 2014 grew to 145 million pre-
Covid and it further went up to 153 million in 2023.
 In adherence to its ‘Skill India’ commitment, Airbus has formed a 50:50 joint venture
with Tata-owned Air India, marking a significant stride in launching a world-class
pilot training center in Gurugram, Haryana.
 ISRO plans to carry out the first tests of the proposed Bharatiya Space Station
next year and talks are on with the industry to manufacture, test and launch its first
module by 2028, the space agency's chief S Somanath stated.
 In a bid to overcome setbacks, Japan is set to attempt a soft landing on the moon's
surface with the Smart Lander for Investigating Moon early on January 20.
20th January 2024

Daily Current Affairs: 20 January 2024

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Daily Current Affairs: 20 January 2024

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Daily Current Affairs

20th January 2024

BANKING & FINANCE

 Established as a joint venture between ICICI Bank Limited and Prudential

crore), ITC (Rs 5,82,423.61 crore),

 It is named as the ‘Statute of Social Justice’ and Swaraj

Bengal CM Mamata Banerjee inaugurates 47th Kolkata International Book Fair

Moh-Juj Fights: A Cultural Resurgence in Assam

 According to Sarma, Moh-Juj was introduced to Assamese culture by the 30th

AWARDS AND HONOURS

APPOINTMENTS & RESIGNATIONS

ACQUISITIONS & MERGERS

SCIENCE & TECHNOLOGY

 JAXA Director Hiroshi

Daily CA One Liner: January 20

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