1

2
 Prime Minister (PM) Narendra Modi was on an official visit to Maharashtra on January 12,
2024. During his visit, PM Modi inaugurated Atal Bihari Vajpayee Sewri-Nhava Sheva Atal
Setu in Navi Mumbai. He also inaugurated and laid the foundation stone of various
development projects worth Rs 12,700 crore.
➢ PM inaugurated the Mumbai Trans Harbour Link (MTHL) named “Atal Bihari
Vajpayee Sewari-Nhava Sheva Atal Setu” in Navi Mumbai, Maharashtra.

MPLADS e-SAKSHI Launched Union Minister of State (MoS) (Independent

Charge) Rao Inderjit Singh, Ministry of Statistics
by
and Programme Implementation (MoSPI) has
Aim: To enhance transparency,
launched Mobile Application (app) in New Delhi,
accessibility, and efficiency in the
Delhi. The new eSakshi app will provide an
execution of Member of Parliament
interface to capture the entire MPLAD scheme
Local Area Development (MPLAD)
cycle thereby making the MPLAD fund cycle
Scheme-2023.
more efficient.

Ex-Ayutthaya The Indian Navy (IN) and Royal Thai Navy

The word ‘Ayutthaya’ translates to ‘The
Invincible One’ or ‘Undefeatable’,
Indigenously built Indian Naval Ships
(INS) Kulish and Indian Navy Landing
Craft Utility-56 (IN-LCU 56) participated
in the exercise.
(RTN) conducted a maiden bilateral exercise,
from 20th to 23rd December 2023. The 36th
edition of India-Thailand Coordinated Patrol
(Indo-Thai CORPAT) was also conducted along
with the Exercise Ayutthaya. Both the navies
conducted surface and anti-air exercises
including weapon firing, seamanship
evolutions and tactical manoeuvres.

The National Highway Authority of India (NHAI) launched the ‘One Vehicle, One FASTag’
initiative to discourage user behavior of using a single FASTag for multiple vehicles or
linking multiple FASTags to a particular vehicle. Under the new initiative, FASTag users
must discard all the earlier issued FASTags through their respective banks.
➢ The FASTag users must register the latest FASTag with the completion of ‘Know Your
Customer’ (KYC) process as per Reserve Bank of India (RBI) guidelines. The new
initiative will help to make toll operations more efficient and ensure seamless &
comfortable journeys for the National Highway users.

Dr. V.K. Saraswat, Member (S&T), NITI Aayog (National Institution for Transforming India),
inaugurated India’s 1st National Highway Steel Slag Road section on National Highway (NH)-
66 connecting Mumbai-Goa. The four lane road stretches for about 1 kilometre on Indapur-
Panvel Section of NH-66.

3
 ➢ The road was constructed by Mumbai (Maharashtra) based JSW Steel, under the
guidance of New Delhi (Delhi) based Council of Scientific & Industrial Research (CSIR)
– Central Road Research Institute (CRRI). The project was sponsored by the Ministry of
Steel (MoS) and supported by the National Highways Authority of India (NHAI).

Khanij Bidesh India Limited (KABIL) signed an agreement with Argentina’s state-owned
enterprise Catamarca Minera y Energética Sociedad del Estado (CAMYEN SE) at Catamarca,
Argentina to explore and develop 5 lithium brine blocks. The agreement is worth about Rs.
200 crores and is the 1st-ever lithium exploration and mining project by a Government of
India-owned enterprise.
➢ The 5 lithium brine blocks are namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-
2022-01810132, and Cortadera-VI

Max Life Insurance Company Limited has introduced the Midcap Momentum Index Fund, a
first-of-its kind in the Unit Linked Insurance Plan (ULIP) segment. The new fund offering
(NFO) aims to invest in a basket of stocks drawn from the constituents of NSE Midcap 150
Momentum 50 index.
➢ The NFO will invest in stocks which have witnessed 175% Compound Annual Growth
Rate (CAGR) in asset under management (AUM) over the last three financial years
(FY20-FY23). NFO targets the growth potential of mid-cap companies.

Google India Digital NPCI International Payments Ltd To expand the

Services (P) limited (NIPL), a wholly-owned subsidiary Unified Payments
(Google Pay India) of the National Payments Interface (UPI)
Corporation of India (NPCI) globally.
➢ This MoU has three main goals viz. Expand UPI payments for Indian travelers globally,
facilitate the establishment of UPI-like systems in other countries, and simplify cross-
border remittances using UPI infrastructure.

IndusInd Bank Launched the ‘EazyDiner IndusInd Bank Platinum

EazyDiner
Limited
Note: Gurugram (Haryana) based
EazyDiner is India’s leading food
discovery, table reservation, and
restaurant payment platform.
Credit Card,’ offering a unique and enhanced
dining experience with no joining fees, making it
accessible to all. This co-branded card comes with
a joining bonus of 500 EazyPoints with a
complimentary EazyDiner Prime membership for
3 months.

International Financial Services Centre (IFSC) at GIFT City (Gujarat International Finance
Tec-City) in Gandhinagar, Gujarat has signed a Memorandum of Understanding (MoU) with
the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corporation (GSPC) to establish a
global hydrogen trading mechanism.
➢ The MoU was signed during the 10th Vibrant Gujarat Global Summit 2024 held from
January 10-12, 2024 in Gandhinagar, Gujarat. GIFT IFSC goal to lead in setting global

4
 commodity prices through the promotion of international securities and commodities
trading, and creating a sustainable international financial hub.

The Best FIFA (International Federation of Association Football) Football Awards ceremony
2023 was held in London (United Kingdom) on 15th January 2024. Lionel Messi (Argentina)
won the Best FIFA Men’s Player 2023 Award, while Aitana Bonmati (Spain) won the Best
FIFA Women’s Player 2023 Award. More Details

The Reserve Bank of India (RBI) has approved the appointment of Praveen Achuthan Kutty as
the Managing Director (MD) and Chief Executive Officer (CEO) of DCB Bank Limited (formerly
known as Development Credit Bank) for 3 years with effect from April 29, 2024.

Frederik André Henrik Christian (Frederik X) (55 years), Crown Prince of Denmark, was
proclaimed as the new king of Denmark by it’s Prime Minister (PM) Mette Frederiksen. King
Frederik X takes throne after the abdication of his mother Queen Margrethe II at
Christiansborg Palace on 14 January 2024.
➢ He served at the Danish Embassy in Paris (France) and at Denmark’s United Nations
(UN) mission in New York, the United States of America (USA).

The Competition Commission of India (CCI) has approved the proposed amalgamation of
Shriram LI Holdings Private Limited (SLIH) with Shriram Life Insurance Company Limited
(SLIC). The primary objective of SLIH is to undertake investment business of SLIC.
➢ The Competition Commission of India (CCI) has approved the proposed amalgamation of
Shriram GI Holdings Private Limited (SGIH) with Shriram General Insurance Company
Limited (SGIC).

Commodore S Sreekumar, Warship Production Superintendent (Kolkata, West Bengal)

launched the 25T Bollard Pull (BP) Tug, named Bhishm, at M/s Titagarh Rail Systems Limited
(TRSL) in Kolkata. The Tug was built under the classification rules of Indian Register of
Shipping (IRS).
➢ The contract for construction and delivery of six 25T BP Tugs was concluded with TRSL.
The tug will improve the operational commitments of the Indian Navy(IN) by facilitating
assistance to Naval ships and submarines during berthing and un-berthing, turning and
manoeuvring in confined waters.

Jagdeep Dhankhar, Vice President (VP) of India, has released a new book titled ‘Fertilising the
Future: Bharat’s March Towards Fertilizer Self-Sufficiency’ authored by Union Minister
Mansukh Mandaviya, Ministry of Health and Family Welfare (MoH&FW) and Ministry of
Chemicals and Fertilizers (MoC&F).
➢ The Hindi version of the book is titled ‘Urvarak-Atmanirbharta ki Raah’. The book is
published by Rupa Publications India. The book portrays the journey of making India self
reliant in the fertilizer sector under the leadership of Prime Minister (PM) Narendra
Modi.

5
14th Ministerial-level meeting of the India- United States Trade Policy Forum held in New
Delhi

Maldives requests India's troop withdrawal by March 15

M.J. Akbar and Natwar Singh launch "Gandhi: A Life in Three Campaign"

President inaugurated 5th Meghalaya Games

Biological E gets WHO emergency use listing (EUL) for Covid vaccine Corbeva

6
 AFFAIRSCLOUD TODAY
Current Affairs 19 January 2024 : Headlines

Overview of PM Narendra Modi’s Visit to Maharashtra

Union Minister Rao Inderjit Singh launched Mobile App for MPLADS Scheme
Indian-Thai Navy’s First Bilateral Exercise “Ex-Ayutthaya” Conducted
NHAI Launches ‘One Vehicle One FASTag’ Initiative to Enhance National Highway
Experience
India’s First National Highway Steel Slag Road Section on NH66 Unveiled
India Signs Agreement for Lithium Exploration and Mining Project in Argentina
Max Life launches first-of-its-kind Midcap Momentum Index Fund in ULIP Segment
Google Pay India signs MoU with NPCI International to expand UPI Globally
IndusInd Bank & EazyDiner partners to launch EazyDiner IndusInd Bank Platinum Credit
Card
IFSC GIFT City signs MoU with IGX, GSPC for Global Hydrogen Trading Mechanism
Best FIFA Football Awards 2023: Lionel Messi and Aitana Bonmati Won Best Men’s &
Women’s Player Award
RBI Approves Appointment of Praveen Achuthan Kutty as MD & CEO of DCB Bank
Frederik X Proclaimed as New King of Denmark; Queen Margrethe II Abdicated
CCI Approves Amalgamation of Shriram LI Holdings with Shriram Life Insurance
BHISHM, 25T BP Tug, launched at Titagarh Rail Systems Ltd in West Bengal
VP Jagdeep Dhankhar unveils new Book ‘Fertilising the Future” by Mansukh Mandaviya

7
 NATIONAL AFFAIRS
Overview of PM Narendra Modi’s Visit to Maharashtra
Prime Minister (PM) Narendra Modi was on an official visit to Maharashtra on January 12, 2024.
i.During his visit, PM Modi inaugurated Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu in
Navi Mumbai.

ii.He also inaugurated and laid the foundation stone of various development projects worth Rs
12,700 crore.
PM Modi Inaugurated Atal Setu:
PM inaugurated the Mumbai Trans Harbour Link (MTHL) named “Atal Bihari Vajpayee Sewari-
Nhava Sheva Atal Setu” in Navi Mumbai, Maharashtra.
This 21.8 km long 6-lane bridge becomes the longest bridge and also the longest sea bridge in
India.
About Atal Setu Bridge:
i.Around 16.5 km of the bridge is over the sea and 5.5 km is on the land.
ii.The bridge has been built at a total cost of more than Rs 17,840 crore.
iii.The foundation stone of the bridge was laid by PM Modi in December 2016.
Benefits: It will reduce travel time between Mumbai and Navi Mumbai to 15-20 minutes. It will
also improve connectivity between Mumbai Port and Jawahar Lal Nehru Port.
Other Development Projects:
i.He inaugurated phase 1 of the Surya regional bulk drinking water project, developed at a cost
of more than Rs 1975 crore. This will provide drinking water supply to the Palghar and Thane
districts of Maharashtra and benefit about 14 lakh people.
ii.PM Modi laid the foundation stone of the underground road tunnel which will connect
Eastern Freeways’s Orange Gate to Marine Drive in Mumbai, Maharashtra. It is a 9.2 km long
tunnel built at a cost of more than Rs 8700 crore.
• This will boost the infrastructure development in Mumbai and reduce travel time
between Orange Gate and Marine Drive.
Rail Projects:
PM Modi dedicated railway projects worth about Rs 2000 crores to the Nation.

8
Phase 2 of the Kharkopar-Uran line:
PM Modi inaugurated 14.3 km long Phase 2 of the Kharkopar-Uran line, an extension of the
current 12.4 km-long Belapur/Nerul-Kharkopar section. He also flagged off the inaugural run of
the EMU (Electric Multiple Units) train from Uran railway station to Kharkopar.
About the Project:
i.It is built at an estimated cost of Rs 2,973.35 crore. The project cost is shared
between CIDCO (City and Industrial Development Corporation of Maharashtra) and Indian
Railways in a ratio of 67: 33 respectively.
ii.At present, 40 suburban services are operating on this route. The extension to Uran will
improve connectivity to the region which includes SEZ.
Other Rail Sector projects:
i.He also inaugurated an 8.8 km long 6th rail line between Khar and Goregaon. It has been built
at an estimated cost of Rs 425 crore. The project was completed in November 2023.
ii.He also inaugurated a new suburban station “Digha Gaon” on the Thane –Vashi/ Panvel trans
harbour line. It will help to alleviate congestion at Thane and Airoli stations on the route.
PM Modi Inaugurated Bharat Ratnam:
PM Modi inaugurated Bharat Ratnam which is a Mega Common Facilitation Center (CFC) for
the gems and jewellery sector at Santacruz Electronic Export Processing Zone- Special
Economic Zone (SEEPZ- SEZ) in Mumbai. This is the first-of-its-kind centre in India with the
best available machines in the world including 3D metal printing.
About Bharat Ratnam:
i.It is a socio-economic project promoted by the Ministry of Commerce and Industry, GJEPC
(Gem and Jewellery Export Promotion Council) India and SEEPZ- SEZ authority.
ii.Its main objective is to create world-class infrastructure which will further give a boost to the
skills of gems and jewellery manufacturing industry.
It will provide training and skilling for artisans including specially-abled students.
iii.It aims to double the SEZ export target from USD 7 billion to 15 billion.
New Enterprises and Services Tower (NEST)-01
PM also inaugurated the New Enterprises and Services Tower (NEST)-01 at SEEPZ- SEZ in
Mumbai. It is primarily designed and developed to give a boost to large-scale production in the
gem and jewellery sector. It will be relocated from the existing Standard Factory-I.
PM launched Nari Shakti Doot App
PM Modi launched the Nari Shakti Doot mobile application. The app is the brainchild of Aditi
Thakre, Minister for Women and Child Development, Maharashtra.
The app will provide all information related to various schemes and initiatives launched for
women by the state government. It aims to create awareness among women about their rights
and benefits which they can avail from various state government schemes.
PM Launched Namo Mahila Shashaktikaran Abhiyan
During his visit, PM Modi launched Namo Mahila Shashaktikaran Abhiyan to boost women
empowerment in Maharashtra by providing skill development training and exposure to

9
entrepreneurship development. Under the campaign, efforts will be made to converge women’s
development schemes of the state and central governments.
PM Modi Inaugurated the 27th National Youth Festival
During his visit to Maharashtra, PM Modi inaugurated the 27th National Youth Festival
organised as a part of the National Youth Day 2024 (12th January 2024) in Nashik, Maharashtra.
The theme of the 2024 youth festival, held from 12th to 16th January 2024, is “Viksit Bharat
@2047- Yuva ke liye, Yuva ke Dwara”.
Key People: Union Minister Anurag Singh Thakur, Ministry of Youth Affairs and
Sports(MoYAS); Eknath Shinde, Chief Minister (CM) of Maharashtra; and Devendra Fadnavis
and Ajit Pawar, Deputy CMs of Maharashtra.
click here to know more
About Maharashtra:
Chief Minister(CM)– Eknath Shinde
Governor– Ramesh Bias
National Park– Navegaon National Park; Chandoli National Park
Wildlife sanctuaries– Bhimashankar Wildlife Sanctuary; Bhamragarh Wildlife Sanctuary
About Gem and Jewellery Export Promotion Council(GJEPC):
GJEPC is the apex body driving India’s export-led growth in the gem and jewellery sector.
Chairman– Vipul Shah
Headquarters– Mumbai, Maharashtra
Established in 1966

Union Minister Rao Inderjit Singh launched Mobile App for MPLADS Scheme
The Union Minister of State (MoS)(Independent Charge) Rao Inderjit Singh, Ministry of
Statistics and Programme Implementation (MoSPI) has launched the MPLADS e-
SAKSHI Mobile Application (app) in New Delhi, Delhi.

• The app aims to enhance transparency, accessibility, and efficiency in the execution of
Member of Parliament Local Area Development (MPLAD) Scheme-2023.
About the App:
i.The new eSakshi app will provide an interface to capture the entire MPLAD scheme cycle
thereby making the MPLAD fund cycle more efficient.

10
ii.Through the app the Members of Parliament (MPs)
can track and oversee the projects in the real time
which is being implemented under MPLAD Scheme.
iii.The application will streamline the communication
between MPs and relevant authorities.
iv.The app offers instant updates on the status and
progress of proposed projects; The app also offers
features for budget management.
About MPLAD:
i.The MPLADS was launched on 23rd December 1993,
to provide a mechanism for the MP to recommend
works.
ii.The MoSPI is the nodal Ministry responsible for
policy formulation, the release of funds and monitoring the implementation of MPLADS.
iii.The scheme enables MPs to recommend works of developmental nature with emphasis on
the creation of durable community assets based on locally felt needs.
iv.For the purpose, Rs 5 crore will be available to each MP at the start of the financial year.
v.The scheme was revised in February 2023.
Additional Info:
The entire process of recommendation under the revised guidelines will operate through the
web portal as well as mobile application.

Indian-Thai Navy’s First Bilateral Exercise “Ex-Ayutthaya” Conducted

The Indian Navy (IN) and Royal Thai Navy (RTN) conducted a maiden bilateral exercise, named
‘Ex-Ayutthaya’ from 20th to 23rd December 2023.

• The 36th edition of India-Thailand Coordinated Patrol (Indo-Thai CORPAT) was also
conducted along with the Exercise Ayutthaya.
Significance of the Exercise Name:
i.The word ‘Ayutthaya’ translates to ‘The Invincible One’ or ‘Undefeatable’,
ii.The exercise is named symbolises two of the oldest cities – Ayodhya (Uttar Pradesh) in India
and Ayutthaya in Thailand.

11
About the Exercise:
Participants:
i.Indigenously built Indian Naval Ships (INS) Kulish and Indian Navy Landing Craft Utility-
56 (IN-LCU 56) participated in the exercise.
ii.The RTN side was represented by His Thai Majesty’s Ship (HTMS) Prachuap Khiri Khan.
iii.Maritime patrol aircraft from both navies also participated in the sea phase of the exercise.
Key Points:
i.Both the navies conducted surface and anti-air exercises including weapon firing, seamanship
evolutions and tactical manoeuvres.
ii.Both navies also took steps towards strengthening operational synergy and progressively
increasing the exercise complexity.
Additional Info:
i.IN has been proactively engaging with countries in the Indian Ocean Region towards
enhancing regional maritime security.
ii.This is in line with India’s vision of Security And Growth for All in the Region (SAGAR).
About Indian Navy(IN):
Chief of the Naval Staff (CNS) – Admiral Radhakrishnan Hari Kumar
Headquarters – New Delhi, Delhi
Established in – 1950

NHAI Launches ‘One Vehicle One FASTag’ Initiative to Enhance National Highway Experience
The National Highway Authority of India (NHAI) launched the ‘One Vehicle, One FASTag’
initiative to discourage user behavior of using a single FASTag for multiple vehicles or linking
multiple FASTags to a particular vehicle.

About the ‘One Vehicle, One FASTag’ initiative:

i.Under the new initiative, FASTag users must discard all the earlier issued FASTags through
their respective banks.
• Only the latest FASTag account shall remain active, as previous tags will be
deactivated or blacklisted after January 31, 2024, even though they have a valid
balance.
• The FASTag users must register the latest FASTag with the completion of ‘Know Your
Customer’ (KYC) process as per Reserve Bank of India (RBI) guidelines.

12
ii.NHAI has taken up a new initiative after following
reports of violations:
• Issuance of multiple FASTags for a
particular vehicle.
• FASTags are issued without KYC in
violation of RBI mandate.
iii.The new initiative will help to make toll
operations more efficient and ensure seamless &
comfortable journeys for the National Highway
users.
About FASTag:
i.FASTag is an electronic toll collection system,
operated by NHAI.
• It was first introduced in India in 2014 and
has a fixed validity period of 5 years, from the date of issuance.The NHAI made it
mandatory for every vehicle in February 2021.
ii.It uses Radio Frequency Identification (RFID) technology that provides users with a smooth
and effortless cross-over at toll plazas without waiting or halting.
iii.FASTag (RFID Tag) is affixed on the windscreen of the vehicle and enables a customer to
make toll payments directly from the account which is linked to FASTag.

India’s First National Highway Steel Slag Road Section on NH66 Unveiled
Dr. V.K. Saraswat, Member (S&T), NITI Aayog (National Institution for Transforming India),
inaugurated India’s 1st National Highway Steel Slag Road section on National Highway(NH)-66
connecting Mumbai-Goa.
The four lane road stretches for about 1 kilometre on Indapur-Panvel Section of NH-66.
• The road was constructed by Mumbai (Maharashtra) based JSW Steel, under the
guidance of New Delhi (Delhi) based Council of Scientific & Industrial
Research (CSIR) – Central Road Research Institute (CRRI).
• The project was sponsored by the Ministry of Steel (MoS) and supported by the
National Highways Authority of India (NHAI).
• Around 80,000 tons of CONARC Steel slag were converted as processed steel slag
aggregates at JSW Steel Dolvi, Raigad plant for the construction of this road.

13
 INTERNATIONAL AFFAIRS
India Signs Agreement for Lithium Exploration and Mining Project in Argentina
Khanij Bidesh India Limited (KABIL) signed an agreement with Argentina’s state-owned
enterprise Catamarca Minera y Energética Sociedad del Estado (CAMYEN SE) at Catamarca,
Argentina to explore and develop 5 lithium brine blocks.

• The agreement is worth about Rs. 200 crores and is the 1st-ever lithium exploration
and mining project by a Government of India-owned enterprise.
• The 5 lithium brine blocks are namely Cortadera-I, Cortadera-VII, Cortadera-VIII,
Cateo-2022-01810132, and Cortadera-VI
Key Points:
i.KABIL will start the exploration and development of the 5 lithium brine blocks spread across
an area of about 15,703 hectares.
ii.KABIL also plans to set up a branch office in Catamarca, Argentina.
iii.With this agreement, KABIL has obtained exploration and exclusivity rights for the
commercial production of lithium from the 5 mineral blocks.
iv.The agreement will allow KABIL to evaluate, prospect, and explore.
• Upon subsequent discovery of lithium minerals, exploitation rights for commercial
production have also been granted.
v.It aims to bring in technical and operational experience for Brine-type lithium exploration,
exploitation, and extraction.
Key People:
i.The signing ceremony was virtually attended by the:
• Union Minister Pralhad Joshi, Ministry of Mines, Government of India;
• V. L. Kantha Rao, Secretary, Ministry of Mines;
• Sridhar Patra, Chairman of KABIL and Chairman and Managing Director (CMD) of
NALCO.
ii.The Agreement was signed in the presence of the Governor of Catamarca Lic. Raul Jalil; Vice
Governor of Catamarca, Eng. Ruben Dusso; and Minister of Mines Catamarca, H. E. Marcelo
Murua and Ambassador of India to Argentina, H. E. Dinesh Bhatia.
Points to note:
i.Argentina is part of the “Lithium Triangle” along with Chile and Bolivia with more than half of

14
the world’s total lithium resources.
ii.Argentina has the distinction of having the:
• 2nd-largest lithium resources; 3rd-largest lithium reserves; and 4th-largest production
in the world.
About Khanij Bidesh India Limited (KABIL):
Chairman– Sridhar Patra
CEO– Sadashiv Samantaray
Headquarters– New Delhi, Delhi
KABIL was incorporated on 2019 under the Companies Act 2013.
• KABIL is a joint venture (JV) of public sector enterprises National Aluminium
Company Limited (NALCO), Hindustan Copper Limited (HCL), and Mineral Exploration
and Consultancy Limited (MECL) in the ratio of 40:30:30, under the aegis of the
Ministry of Mines, Government of India.

BANKING & FINANCE

Max Life launches first-of-its-kind Midcap Momentum Index Fund in ULIP Segment
Max Life Insurance Company Limited has introduced the Midcap Momentum Index Fund, a
first-of-its kind in the Unit Linked Insurance Plan (ULIP) segment.

• The new fund offering (NFO) aims to invest in a basket of stocks drawn from the
constituents of NSE Midcap 150 Momentum 50 index.
About Midcap Momentum Index Fund:
i.The NFO will invest in stocks which have witnessed 175% Compound Annual Growth
Rate (CAGR) in asset under management (AUM) over the last three financial years (FY20-FY23).
ii.NFO targets the growth potential of mid-cap companies.
iii.The fund provides broad diversification benefits by investing in proven, high-performing
Midcap stocks, minimizing reliance on fund managers.
iv.During the launch period, the fund is available with the Max Life Online Savings Plan with
zero allocation and admin charges.
• It is also offered with Max Life Fast Track Super and capital guarantee solutions that
offer OSP as the market-linked product.

15
v.Investors can participate in the NFO until 29th
January 2024.
What is NFO?
i.NFO is the first subscription offering for any fund
being launched by an investment company.
ii.During an NFO, investors can purchase units of
the mutual fund scheme at the face value, which is
typically set at a fixed price usually of Rs. 10 per
unit.
Mid-Caps:
i.According to the Securities and Exchange Board of
India (SEBI), companies that are ranked from 101 to
250 in terms of market capitalization are known as
mid-cap companies.
• Mutual funds that hold stocks from the mid-cap are called ‘Mid-cap funds’.
ii.Mid-cap funds are involved with more risk than large-cap funds but will yield good returns in
the long run.
iii.Mid-cap stocks can complement both high-risk and low-risk investment strategies, offering
investors a balance of stability and growth.
Note- ULIPs offer the double benefit of investment and life insurance.
About Max Life Insurance Company Limited:
Max Life Insurance Company Limited is a Joint Venture between Axis Bank Limited (holding
30% stakes) and Max Financial Services Limited (holding 70% stakes)
Managing Director (MD) & Chief Executive Officer (CEO) – Prashant Tripathy
Headquarters – Gurugram, Haryana
Established in – 2000

Google Pay India signs MoU with NPCI International to expand UPI Globally
On January 17, 2024, a Memorandum of Understanding (MoU) was signed between the Google
India Digital Services (P) limited (Google Pay India) and NPCI International Payments Ltd
(NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI) to
expand the Unified Payments Interface (UPI) globally.

16
 • This MoU has three main goals viz. Expand UPI payments for Indian travelers globally,
facilitate the establishment of UPI-like systems in other countries, and simplify cross-
border remittances using UPI infrastructure.
Key Points:
i.This MoU enhances UPI’s global reach by establishing UPI-like systems in other countries, and
providing foreign merchants access to Indian customers.
ii.Indian travellers can now use UPI-powered apps, like Google Pay, for digital payments
globally instead of relying only on foreign currency and/or, credit or forex cards for
international transactions.
iii.This also simplifies cross-border remittances by reducing dependence on traditional money
transfer channels.
iv.As of April 30, 2023, international mobile numbers from these countries can access the UPI
transaction facility: Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the United States of
America(USA), Saudi Arabia, the United Arab Emirates (UAE), and the United Kingdom (UK).
• The feature allows Non-Resident Accounts that have international mobile numbers to
transact with UPI.
Click Here for Official Notification
About NPCI International Payments Ltd (NIPL):
CEO– Ritesh Shukla
Headquarters– Mumbai, Maharashtra
Establishment– 2020

IndusInd Bank & EazyDiner partners to launch EazyDiner IndusInd Bank Platinum Credit Card
IndusInd Bank Limited, in collaboration with EazyDiner, has launched the ‘EazyDiner IndusInd
Bank Platinum Credit Card,’ offering a unique and enhanced dining experience with no joining
fees, making it accessible to all.

Note: Gurugram(Haryana) based EazyDiner is India’s leading food discovery, table reservation,
and restaurant payment platform.
Key Features:
Complimentary EazyDiner Prime Membership:
i.This co-branded card comes with a joining bonus of 500 EazyPoints with a complimentary
EazyDiner Prime membership for 3 months.

17
 • The card provides an additional discount of Rs 500 for payments through the
EazyDiner App via PayEazy for both dining and takeaway at select restaurants.
• It would enable up to 50% discount on every dining experience.
ii.This 3-month membership provides guaranteed discounts from 25% to 50% at over 2000
premium restaurants.
• No joining or annual fees for Prime membership.
iii.Cardholders can renew their Prime membership upon spending Rs. 30,000 every 90 days.
Reward Benefits:
i.The card offers to earn up to 2 reward points on every Rs. 100 spent.
ii.The reward points can be instantly redeemed against dining bills on the EazyDiner app.
iii.Additionally, cardholders can earn 2,000 reward points upon spending Rs. 30,000 every 90
days.
Additional info: In 2023, the Indian Foodservice Market size is estimated at USD 69.78 billion
and it is estimated to reach USD 125.06 billion by 2029.
About IndusInd Bank Limited:
MD & CEO– Sumant Kathpalia
Headquarters– Mumbai, Maharashtra
Established in– 1994
Tagline– We Make You Feel Richer

ECONOMY & BUSINESS

IFSC GIFT City signs MoU with IGX, GSPC for Global Hydrogen Trading Mechanism
On January 17, 2024, the International Financial Services Centre (IFSC) at GIFT City (Gujarat
International Finance Tec-City) in Gandhinagar, Gujarat has signed a Memorandum of
Understanding (MoU) with the Indian Gas Exchange (IGX) and Gujarat State Petroleum
Corporation (GSPC) to establish a global hydrogen trading mechanism.

• The MoU was signed during the 10th Vibrant Gujarat Global Summit 2024 held from
January 10-12, 2024 in Gandhinagar, Gujarat.

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 • It was signed in the presence of Chief Minister (CM) Bhupendra Patel, IGX Managing
Director (MD) and Chief Executive Officer (CEO) Rajesh K Mediratta, GSPC
MD Milind Torawane and GIFT City’s IFSC Department Head Sandip Shah.
What will be done under the collaboration?
There will be introduction of global hydrogen trading mechanism i.e. Global Hydrogen Price
Index, which will be the second-of-its-kind globally after Hydrix by European Energy Exchange
(EEX) in Leipzig, Germany, which world’s first green Hydrogen price index.
• The Global Hydrogen Price Index will act as key benchmark for price discovery and
market insights for green hydrogen market in India.
• This will aid in improving transparency, increase investor confidence, and facilitate
the expansion of the green hydrogen market globally.
Key Points:
i.GIFT IFSC goal to lead in setting global commodity prices through the promotion of
international securities and commodities trading, and creating a sustainable international
financial hub.
• It should be noted that GIFT City’s Special Economic Zone (SEZ) is recognized as IFSC
in India.
• It hosts operational segments such as banking, insurance, capital markets, asset
management, and FinTech.
ii.IGX is India’s first automated national-level gas exchange for physical delivery of natural gas.
iii.The Government of India (GoI) has set a policy target of increasing the share of natural gas in
India’s energy basket from current 6.5% to 15% by 2030.
About Indian Gas Exchange (IGX):
It operates under the regulatory framework of Petroleum and Natural Gas Regulatory Board
(PNGRB).
Managing Director & CEO– Rajesh Kumar Mediratta
Headquarters– Noida, Uttar Pradesh (UP)
Establishment– 2020

AWARDS & RECOGNITIONS

Best FIFA Football Awards 2023: Lionel Messi and Aitana Bonmati Won Best Men’s & Women’s
Player Award
The Best FIFA (International Federation of Association Football) Football Awards ceremony
2023 was held in London (United Kingdom) on 15th January 2024.
• Lionel Messi (Argentina) won the Best FIFA Men’s Player 2023 Award,
while Aitana Bonmati (Spain) won the Best FIFA Women’s Player 2023 Award.

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Winners of Best FIFA Football Awards 2023:
Category Winner
S.No
Lionel Messi(Argentina)
1 Best FIFA Men’s Player Club – Inter Miami CF

Aitana Bonmati(Spain)
2 Best FIFA Women’s Player Club- FC Barcelona

Ederson Moraes(Brazil)
3 Best FIFA Men’s Goalkeeper Club-Manchester City

Mary Earps (England)

4 Best FIFA Women’s Goalkeeper Club-Manchester United

Pep Guardiola
5 Best FIFA Men’s Coach (Club-Manchester City)

6 Best FIFA Women’s Coach Sarina Wiegman (England)

7 Puskas Award Guilherme Madruga(Brazil)

8 FIFA Fair Play Award Brazil National Team for stand against racism

9 FIFA Best Special Award Marta (Brazil)

10 FIFA Fan Award Hugo Daniel “Toto” Iniguez(Argentina)

Highlights:
i.This marks Messi’s eighth individual FIFA award, including in 2009, 2010, 2011, 2012, 2015,
2019, 2022, and 2023.
ii.Aitana Bonmatí(Spain) also received the Ballon d’Or award and the Union of European
Football Associations (UEFA) award in 2023.
• She was part of the Spain’s FIFA World Cup 2023 winning team, which was held in
Australia and New Zealand.
iii.Marta(Brazil)has been awarded the FIFA Special Award for her outstanding career
achievements.

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 • She was the highest goal scorer in World Cup history (inclusive) in both men’s and
women’s football, with 17 goals in 23 matches.
iv.Mary Earps(England)became the first player to win the Best FIFA Women’s Goalkeeper twice
(2022 and 2023).
v.Ederson Moraes (Brazil) was recognised as the Best FIFA Men’s Goalkeeper for being part
of the Manchester City in the following title wins in 2023: the Champions League, Premier
League, FIFA Club World Cup, UEFA Super Cup and FA Cup.
vi.Sarina Wiegman (England) won the Best FIFA Women’s Coach award four times 2017, 2020,
2022, and 2023.
• She leads the England women’s team to victory at the UEFA Women’s EURO and to the
final at the FIFA Women’s World Cup Final.
vii.Pep Guardiola(Spain) won the Best Men’s Coach Award for two trophies in 2023, including
the UEFA Super Cup and the FIFA Club World Cup for the Manchester City football club.
viii.Guilherme Madruga(Brazil)has won the FIFA Puskás Award 2023 for his astonishing
overhead kick.
• The award is named in honour of Hungarian forward Ferenc Puskás, who was famed
for his stunning collection of individual strikes.
ix.The world ‘Dream Team’ known as the FIFA FIFPRO Men’s World 11 and FIFA FIFPRO
Women’s World 11 were also announced.
• The players were selected by thousands of professional footballers from all around the
world, voting for the most outstanding player in each position.
About Fédération Internationale de Football Association(FIFA):
President – Gianni Vincenzo Infantino
Headquarters– Zürich, Switzerland
Established – 1904

APPOINTMENTS & RESIGNATIONS

RBI Approves Appointment of Praveen Achuthan Kutty as MD & CEO of DCB Bank
The Reserve Bank of India (RBI) has approved the appointment of Praveen Achuthan Kutty as
the Managing Director (MD) and Chief Executive Officer (CEO) of DCB Bank Limited (formerly
known as Development Credit Bank) for 3 years with effect from April 29, 2024.
He will succed Murali M Natrajan, the incumbent MD and CEO of DCB bank, whose tenure is set
to end on 28th April 2024. He has been holding the post since 2009.
About Praveen Achuthan Kutty:
i.He has over 32 years of experience in all aspects of Retail and Small and Medium-sized
Enterprises (SME) banking.

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ii.He joined the DCB bank in 2007 as Executive Vice President and Head of Consumer Banking.
Currently, he is overseeing Retail, Small and Medium-sized Enterprises (SME), and agri-banking
operations.
iii.Before joining DCB Bank, he served at Citibank as Area Director for Non-Resident Indian (NRI)
Business in North America.
• His worked as the Head of NRI Business, for the United States of America (USA) and
Canada.
About DCB Bank Limited:
DCB Bank was established in 1930 as “Development Credit Bank Limited” and was renamed as
DCB bank limited w.e.f 2013.
MD & CEO– Murali M Natrajan
Headquarters– Mumbai, Maharashtra

Frederik X Proclaimed as New King of Denmark; Queen Margrethe II Abdicated

Frederik André Henrik Christian (Frederik X) (55 years), Crown Prince of Denmark, was
proclaimed as the new king of Denmark by it’s Prime Minister (PM) Mette Frederiksen.
• King Frederik X takes throne after the abdication of his mother Queen Margrethe II at
Christiansborg Palace on 14 January 2024.
• He served at the Danish Embassy in Paris (France) and at Denmark’s United Nations
(UN) mission in New York, the United States of America (USA).
Note- Queen Margrethe II has become Denmark’s first monarch to abdicate the throne in nearly
900 years.
About Denmark:
Prime Minister(PM)- Mette Frederiksen
Capital – Copenhagen
Currency – Danish Krone

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 ACQUISITIONS & MERGERS
CCI Approves Amalgamation of Shriram LI Holdings with Shriram Life Insurance
The Competition Commission of India (CCI) has approved the proposed amalgamation of
Shriram LI Holdings Private Limited (SLIH) with Shriram Life Insurance Company
Limited(SLIC).

• The primary objective of SLIH is to undertake investment business of SLIC.

CCI approves Amalgamation of Shriram GI Holdings with Shriram General Insurance
The Competition Commission of India (CCI) has approved the proposed amalgamation of
Shriram GI Holdings Private Limited (SGIH) with Shriram General Insurance Company
Limited (SGIC).
SGIH:
i.SGIH is involved in the business of investments, facilitating strategic, private equity, and third-
party investors.
ii.The approval also extends to SGIC’s consultancy business, particularly in relation to the
general insurance products sector.
About Shriram General Insurance Company Limited (SGIC):
SGIC is a joint venture(JV) between Shriram Capital Limited and Sanlam Limited (South Africa).
Managing Director(MD) and Chief Executive Officer(CEO) – Anil Kumar Aggarwal
Headquarters – Jaipur, Rajasthan
Established in – 2006
About Shriram Life Insurance Company Limited (SLIC):
Managing Director(MD) and Chief Executive Officer(CEO) – Casparus Jacobus Hendrik
Kromhout
Headquarters – Hyderabad, Telangana
Established in – 2005

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 SCIENCE & TECHNOLOGY
BHISHM, 25T BP Tug, launched at Titagarh Rail Systems Ltd in West Bengal
On 14th January 2024, Commodore S Sreekumar, Warship Production Superintendent (Kolkata,
West Bengal) launched the 25T Bollard Pull(BP) Tug, named Bhishm, at M/s Titagarh Rail
Systems Limited (TRSL) in Kolkata.
• The Tug was built under the classification rules of Indian Register of Shipping (IRS).
• With the launch, the contract for construction and delivery of six 25T BP Tugs was
concluded with TRSL.
• The tug will improve the operational commitments of the Indian Navy(IN) by
facilitating assistance to Naval ships and submarines during berthing and un-
berthing, turning and manoeuvring in confined waters.
• This will also provide afloat firefighting assistance to ships and will have capability to
conduct limited Search and Rescue Operations.

BOOKS & AUTHORS

VP Jagdeep Dhankhar unveils new Book ‘Fertilising the Future” by Mansukh Mandaviya
Jagdeep Dhankhar, Vice President (VP) of India, has released a new book titled ‘Fertilising the
Future: Bharat’s March Towards Fertilizer Self-Sufficiency’ authored by Union
Minister Mansukh Mandaviya, Ministry of Health and Family Welfare (MoH&FW) and Ministry
of Chemicals and Fertilizers (MoC&F).
i.The Hindi version of the book is titled ‘Urvarak-Atmanirbharta ki Raah’.
ii.The book is published by Rupa Publications India.
iii.The book portrays the journey of making India self reliant in the fertilizer sector under the
leadership of Prime Minister (PM) Narendra Modi.

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