1

2
Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following
schemes and initiatives:
➢ Extension of Animal Husbandry Infrastructure Development Fund(AHIDF).
➢ Extension of Scheme of Sugar Subsidy for Antyodya Anna Yojna (AAY) Families
under the Public Distribution Scheme (PDS).
➢ Continuation of Scheme for Rebate of State and Central Taxes and Levies for
export of Apparel/Garments. More Details

According to the Indian Institutional Ranking Framework (IIRF)’s Top Master of

Business Administration (MBA) Colleges in India – 2024, the Indian Institute of
Management (IIM), Ahmedabad (Gujarat), has topped among the Top Government
MBA colleges in India.
➢ In the 2024 MBA Colleges ranking, Xavier Labour Relations Institute (XLRI),
Jamshedpur (Jharkhand), has topped among the Top Private MBA colleges in
India.

Indian National Centre for Ocean Information Services (INCOIS) launched a new
Satellite Data Acquisition and Processing Facility and unveiled a special postal stamp
“INCOIS My Stamp” as a part of its INCOIS Foundation day – Silver Jubilee (25 years)
celebration held in Hyderabad, Telangana.
➢ INCOIS, a unit of Earth System Science Organisation (ESSO), was established as
an autonomous body in 1999 under the Ministry of Earth Sciences (MoES).

Mukesh Ambani, Chairman, and Managing Director (CMD) of Reliance Industries

Limited (RIL), has been ranked 1st among all Indians and 2nd globally in the Brand
Guardianship Index (BGI) 2024 compiled by Brand Finance, the world’s leading brand
valuation firm. Brand Finance’s survey gave Mukesh Ambani a BGI score of 80.3.
➢ Huateng Ma, Chairman, and Chief Executive Officer (CEO) of Chinese internet
giant Tencent Holdings recognised as the world’s leading CEO in the 2024 BGI, for
his guardianship of the WeChat brand with a BGI score of 81.6.

The Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to the Export-
Import Bank of India (Exim Bank) after the bank invoked Government of India (GoI)

3
guarantees on decade-old loans extended to some African countries. These loans
were classified as “doubtful debts” in Financial Year (FY) 2023-24.

According to the CRISIL (formerly Credit Rating Information Services of India

Limited) report titled “Indian Economy: Capital as Growth Driver”, the Indian economy
is expected to grow at an average rate of 6.7% per year between fiscals 2024 and 2031.
This is slightly higher than the pre-pandemic decadal average of 6.6%.
➢ Capital was identified as the key contributor, stemming from the government’s
investment-driven strategy post-pandemic.

Nangolo Mbumba, former Vice President of the Republic of Namibia, took oath as the
interim President of Namibia after the death of incumbent President Hage Geingob on
4th February 2024. Nangolo Mbumba will hold the post until the 2024 election.

The China Aerospace Science and Technology Corporation’s (CASC) Jielong-3, or

Smart Dragon-3 rocket, successfully launched nine satellites into the Sun-
Synchronous Orbit (SSO), off the coast of Yangjiang in southern Guangdong province,
China.
➢ The launch was coordinated by the Taiyuan Satellite Launch Center, and it was
the third successful mission for the Smart Dragon-3 launch vehicle.

The first 25T Bollard Pull (BP) Tug, named ‘Yard 305 – Mahabali’ was delivered to the
Indian Navy (IN) at Naval Ship Repair Yard (NSRY) in Kochi, Kerala in the presence of
Rear Admiral Subir Mukherjee, Admiral Superintendent of NSRY (Kochi).

Indian Navy (IN) commissioned the Indian Naval Ship (INS) Sandhayak (Yard 3025),
the first of four Survey Vessel Large (SVL) ships, at the Naval Dockyard,
Visakhapatnam, Andhra Pradesh, in the presence of Union Minister Rajnath Singh,
Ministry of Defence (MoD), and Indian Navy Chief Admiral R. Hari Kumar.
➢ The contract for building four SVL ships was signed between the MoD and Garden
Reach Shipbuilders & Engineers Limited (GRSE).

Chief of Defence Staff General Anil Chauhan unveiled a book titled ‘Artificial
Intelligence and National Security’, written by Amit Sinha and Vijay Khare and
published by Pentagon Press at the Defence Literature Festival, “Kalam and Kavach,”
in Pune (Maharashtra).

4
➢ The book ‘AI and National Security’ explains about the application of Artificial
Intelligence (AI) in national security. It also examines India’s AI development in
comparison with global powers and insights into government initiatives.

Jagdeep Dhankhar, Vice President (VP) of India, released the book titled
“Transforming HARYANA: 9 Incredible Years of Haryana Government” edited by
Kuldip Chand Agnihotri, Former Vice-Chancellor, Central University of Himachal
Pradesh, Dharamshala, Himachal Pradesh. The book was published by OakBridge
Publishing Private Limited.

4 February, 2024 United Nations (UN) International Day of

Human Fraternity is annually observed
The day emphasises the imperative
across the globe to promote peace, tolerance,
need for dialogue among different
inclusion, understanding, and solidarity
faiths and religions to enhance mutual
between all people of diverse faiths.
understanding, harmony, and
cooperation among people.

4 February, 2024 World Cancer Day (WCD) is annually

observed across the globe to raise
awareness of fundamental cancer
The campaign theme of WCD 2022-2024 is,
issues and to encourage its prevention,
‘Close the Care Gap’. 2024 marks the 3rd and
detection, and treatment. WCD is an
final year of the campaign. The campaign
international campaign that aims to
theme of WCD 2024 is, “Close the Care Gap:
remember and honour those affected
Together, we challenge those in power.”
by cancer, and to take action to change
the future of cancer.

The Ministry of Law and Justice (MoL&J) notified the appointment of Chief Justice
(CJ) to seven High Courts (HC): Meghalaya, Allahabad (Uttar Pradesh), Gauhati
(Assam), Orissa (Odisha), Uttarakhand, Rajasthan, and Punjab & Haryana
(Chandigarh).
➢ Justice S. Vaidyanathan, Judge of the Madras HC (Tamil Nadu), was appointed as
the CJ of Meghalaya HC.
➢ Justice Arun Bhansali, Judge of the Rajasthan HC, was appointed as the CJ of the
Allahabad HC (Uttar Pradesh). More Details

5
Dusted Apollo, a rare high altitude butterfly, sighted for first time in Himachal’s
Chamba

Apurva Chandra appointed Health Secretary; Sanjay Jaju new I&B Secretary

Cape Verde is the third African country to eliminate malaria

Russian cosmonaut sets world record for time spent in space

Byju’s US subsidiary Alpha has filed for bankruptcy in a US

6
 AFFAIRSCLOUD TODAY
Current Affairs 6 February 2024 : Headlines

Cabinet Approvals on 1st February 2024

IIRF’s Top MBA Colleges in India 2024: IIM-Ahmedabad Ranked First in Government Colleges
Category
INCOIS Celebrates Silver Jubilee: Launched new satellite data facility & Unveiled special
postal stamp
Mukesh Ambani Tops Among Indians and Ranks 2nd Globally on the Brand Guardianship
Index 2024
Exim Bank Received Rs 9,013.72 crore from MEA after Invoking GoI Guarantees
CRISIL Report: Indian Economy to Grow at 6.7% between Fiscals 2024-2031
Nangolo Mbumba Took Oath as Interim President of Namibia Following the Death of Hage
Gottfried Geingob
China Launched Jielong-3 with 9 Satellites and Long March-2C with 11 Geely-02 Satellites
Indian Navy received the First 25T BP Tug ‘Yard 305 – Mahabali’
Indian Navy Commissioned Survey Vessel INS Sandhayak (Yard 3025) in Visakhapatnam
CDS Anil Chauhan unveils Book ‘Artificial Intelligence and National Security’ at Defence Lit
Fest in Pune
Vice President Jagdeep Dhankhar launched a Book “Transforming HARYANA” by Kuldip
Chand Agnihotri
International Day of Human Fraternity 2024- February 4
World Cancer Day 2024- February 4
GoI Notifies Appointment of Chief Justices to Seven High Courts

7
 NATIONAL AFFAIRS
Cabinet Approvals on 1st February 2024
On February 1, 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved
the following schemes and initiatives:

i.Extension of Animal Husbandry Infrastructure Development Fund(AHIDF).

ii.Extension of Scheme of Sugar Subsidy for Antyodya Anna Yojna (AAY) Families under the
Public Distribution Scheme (PDS).
iii.Continuation of Scheme for Rebate of State and Central Taxes and Levies for export of
Apparel/Garments.
iv.Approves marketing margin for the supply of Domestic gas to Fertilizer(Urea) for the Period
May 2009 – November 2015.
v.Signing and ratification of the Bilateral Investment Treaty between India and the United Arab
Emirates(UAE).
Cabinet approves Extension of AHIDF:
The Union Cabinet Chaired by PM Modi approved the continuation of the Animal Husbandry
Infrastructure Development Fund (AHIDF) to be implemented under the Infrastructure
Development Fund (IDF) for three years till 2025-26 with an outlay of Rs 29,610.25 crore.
Key Points:
i.The Scheme will encourage investments in animal-based (Dairy and Meat) processing and
diversification, Animal Feed Plant, breed multiplication farms, Agri-waste management, and
veterinary vaccine/drug production facilities.
ii.The scheme is expected to generate direct and indirect employment for 35 lakh people.
Eligible entities: Individuals, Private Companies, FPO(Farmer Producer Organizations),
MSME(Micro, Small and Medium Enterprise), and Section 8 companies.
Benefits:
i.Government of India(GoI) will provide 3% interest subsidy for 8 years(including 2 years of
moratorium) for loans up to 90% from scheduled banks and the National Cooperative
Development Corporation (NCDC), the National Bank for Agriculture and Rural Development
(NABARD), and The National Dairy Development Board (NDDB).

8
ii.The government will also provide credit guarantees to the MSME and Dairy cooperatives up to
25% of the credit amount from the Credit Guarantee Fund of Rs 750 Crore.
About AHIDF:
i.AHIDF is a Central Sector Scheme under the Atma Nirbhar Bharat Abhiyan stimulus package.
ii.The Union Cabinet approved AHIDF in June 2020 with an initial corpus of Rs 15000 crore.
Cabinet Approves Scheme of Sugar Subsidy for AAY Families Under PDS
The Union Cabinet chaired by the PM approved the extension of the Scheme of sugar subsidy for
AAY families distributed through the PDS for two more years till 31 March 2026.
Key Points
i.The scheme gives a subsidy of Rs 18.50 per kg per month of sugar to AAY families of
participating States
ii.States have the responsibility to procure and distribute sugar to AAY families through PDS at
the rate of One kg per family per month
iii.The scheme is expected to benefit about 1.89 crore AAY families in India
iv.During the 15th Finance Commission (from 2020-21 to 2025-26), the approval is expected to
provide benefits worth more than Rs 1850 crore.
Additional Information
i.At present, GoI provides a free ration under Pradhan Mantri Garib Kalyan Anna Yojna (PM-
GKAY).
ii.Besides this ‘Bharat Atta’, ‘Bharat Dal’, and Tomatoes and Onions are provided at affordable
prices to ensure sufficient food for citizens.
iii.About 3 Lakh Tons of Bharat Dal (Chana dal) and about 2.4 Lakh Ton of Bharat Atta have
already been sold benefitting consumers.
About AAY:
Antyodya Anna Yojna (AAY) is a public distribution system scheme that was implemented in
India in 2000.
Purpose: To provide food security to the people and end hunger in India.
Continuation of Scheme for Rebate of State and Central Taxes and Levies for Export of
Apparel/Garments
The Union Cabinet chaired by the PM approved the extension of the Scheme for Rebate of State
and Central Taxes and Levies (RoSCTL) for two years till 31st March 2026 for export of
Apparel/Garments and Made-ups.
• This is the 2nd extension to the scheme, earlier it was extended till 31st March 2024
from 31st March 2020.
Key Points
The scheme is for exporters to reimburse taxes and duties paid by them such as value-added
tax, coal cess, mandi tax, electricity duties, and fuel used for transportation, which are not
exempted or refunded under any other existing mechanism.
• Indirect taxes on inputs as well as other unrefunded State & Central taxes and levies
will be rebated or reimbursed through the scheme.

9
Background
The Ministry of Textiles notified the initial Rebate of State and Central Taxes and Levies
(RoSCTL) scheme on 7th March 2019 to benefit the exporters that are not refunded through
Goods and Services Tax(GST).
Note: The other textile products (excluding Chapters 61, 62, and 63) not covered under the
RoSCTL, are eligible to avail of the benefits under RoDTEP(Remission of Duties and Taxes on
Export) along with other products.
Cabinet Approves Marketing Margin for Supply of Domestic Gas to Fertilizer(Urea) (May 2009
– November 2015)
The Union Cabinet chaired by PM Modi has given its approval for the determination of the
Marketing Margin on the supply of domestic gas to Fertilizer (Urea) Units from May 1, 2009, to
November 17, 2015.
Marketing Margin:
Marketing Margin is charged by gas marketing companies from consumers over and above the
cost of gas for taking on the additional risk and cost associated with marketing gas.
Key Points:
i.Previously in 2015, the government determined the marketing margin on the supply of
domestic gas to urea and Liquefied petroleum gas(LPG) producers.
ii.This approval will provide additional capital to Urea Units for the component of marketing
margins they paid during 1st May 2009 to 17th November 2015, based on the rates paid from 18th
November 2015.
iii.This will lead to self-sufficiency in fertilizers and increase investment in the gas
infrastructure sector.
Signing & Ratification of Bilateral Investment Treaty between India and UAE
The Union Cabinet chaired by PM Modi has approved the signing and ratification of the Bilateral
Investment Treaty between the GoI and the Government of the UAE.
• This will help in improving the confidence of the investors and increase the Foreign
Investments and Overseas Direct Investment (ODI) opportunities for both India and
UAE.
About the United Arab Emirates(UAE).
President- Mohamed bin Zayed Al Nahyan
Capital- Abu Dhabi
Currency- Emirati Dirham (AED)

IIRF’s Top MBA Colleges in India 2024: IIM-Ahmedabad Ranked First in Government Colleges
Category
According to the Indian Institutional Ranking Framework(IIRF)’s Top Master of Business
Administration (MBA) Colleges in India – 2024, the Indian Institute of Management
(IIM), Ahmedabad (Gujarat), has topped among the Top Government MBA colleges in India.

10
 • In the 2024 MBA Colleges ranking, Xavier Labour Relations Institute (XLRI),
Jamshedpur (Jharkhand), has topped among the Top Private MBA colleges in India.
Note: IIM Ahmedabad has emerged as the top-ranked college (Overall among Government &
Private) in India, based on an overall index score of 937.24.
Click here to view full ranking list
Top 5 Business Schools in India: Government
National Rank Government Business Schools
1 IIM Ahmedabad, Gujarat
2 Faculty of Management Studies(FMS), University of Delhi, Delhi
3 IIM Calcutta, Kolkata, West Bengal
4 IIM Bangalore, Benglauru, Karnataka
5 IIM Kozhikode, Kerala
Top 5 Business Schools in India: Private
National
Rank Private Business Schools
1 Xavier Labour Relations Institute (XLRI), Jamshedpur, Jharkhand
2 Management Development Institute (MDI), Gurugram, Haryana
3 S P Jain Institute of Management & Research (SPJIMR), Mumbai, Maharashtra
4 Symbiosis Institute of Business Management, Pune, Maharashtra
Symbiosis Centre For Management & Human Resource Development (SCMHRD), Pune,
5 Maharashtra
Top Colleges in Other Categories
i.“Top 50 Business Schools Under University Program”: Symbiosis Institute of Business
Management (SIBM) secured first rank in the list followed by SCMHRD – Pune, Xavier Institute
of Management(XIMB), XIM University, Bhubaneswar(Odisha) in the second and third place
respectively.
ii.“Top 50 School of Eminence of Employability”: Xavier Labour Relations Institute (XLRI),
Jamshedpur, (Jharkhand), secured first rank in the category followed by the Management
Development Institute (MDI), Gurugram(Haryana) and S P Jain Institute of Management &
Research(SPJIMR), Mumbai in the second and third.

11
iii. “Top 50 Business Schools for
Research”: XLRI – Jamshedpur secured first
rank in the category and It was followed by the
Rajagiri Centre For Business Studies,
Kochi(Kerala) and MDI.
iv.“Top 20 Emerging Business Schools”: Vijay
Patil School of Management, Navi
Mumbai(Maharashtra) secured first rank,
followed by Pune Business School, Pune and
GNIOT Institute Of Management Studies,
Greater Noida(Uttar Pradesh) in the second and
third rank.
About IIRF MBA Rankings 2024:
i.Indian Institutional Ranking Framework
(IIRF), India, presented by Education Post, a
monthly magazine on higher education, is a non-governmental organisation that ranks various
institutions on a periodic basis.
ii.The ranking is conducted by Ahmedabad(Gujarat) based Maction Consulting Private
Limited(Knowledge Partner of IIRF) under the mentorship of the Federation for World
Academics (FWA).
iii.According to the IIRF, the ranking assessed over 300 management institutions and provided
rankings to 50 government and 160 private management institutions in six categories.
• The ranking provides a comprehensive perspective on their research output and
employability impact.
iv.The IIRF Management Ranking 2024 evaluates institutions on seven key parameters
including
• Teaching Learning Resources and Pedagogy
• Industry Income and Integration
• Placement Performance
• Research
• Placement Strategy & Support
• Future Orientation
• External Perception and International Outlook (EPIO)
Recent Related News:
i.According to the 8th edition of India Rankings (India Ranking 2023), prepared by Ministry of
Education (MoE) based on parameters defined by National Institutional Ranking Framework
(NIRF), Indian Institute of Technology (IIT) Madras (IITM), Chennai, Tamil Nadu(TN), has topped
the list for the 5th consecutive time.
ii.According to the ‘Times Higher Education(THE) World University Ranking 2024’, the Indian
Institute of Science, Bengaluru (IISc Bengaluru) is Ranked No. 1 among Indian institutions,

12
falling into the 201-250 band ranking for the first time since 2017. IISc Bengaluru has moved up
from 251-300 band in 2023.

INCOIS Celebrates Silver Jubilee: Launched new satellite data facility & Unveiled special postal
stamp
On 3rd February 2024, Indian National Centre for Ocean Information Services (INCOIS) launched
a new Satellite Data Acquisition and Processing Facility and unveiled a special postal
stamp “INCOIS My Stamp” as a part of its INCOIS Foundation day – Silver Jubilee (25 years)
celebration held in Hyderabad, Telangana.

• INCOIS, a unit of Earth System Science Organisation (ESSO), was established as an

autonomous body in 1999 under the Ministry of Earth Sciences (MoES).
The celebration was held as a part of the Indian Ocean Regional Decade Conference 2024 held
from 1st to 3rd February 2024 at INCOIS in Hyderabad, Telangana.
Key People:
Ravichandran, Secretary of MoES, Vijay Kumar Saraswat, Member of NITI Aayog (National
Institution for Transforming India) and Distinguished scientists were present during the event.
Satellite Data Facility:
i.The new cutting-edge satellite data acquisition and processing facility (Oceansat3 and X/L
band ground station) is designed to handle data from Oceansat3 and other advanced satellites.
• Oceansat3 is a satellite designed for ocean observation and data acquisition.
ii.This is in line with INCOIS’s effort to stay at the forefront of technology and enhancing its
oceanographic data capabilities.
INCOIS My Stamp:
P.V.S. Reddy, Chief Post Master General for Telangana circle, presented the special stamp
“INCOIS My Stamp” to Tummala Srinivasa Kumar, Director of INCOIS.
The stamp symbolizes the INCOIS’s contributions to ocean science and service.

13
Note: During the event, INCOIS released the book titled “INCOIS 25-Year Journey” (Hindi and
English) bilingual retrospectives of the institute’s 25-year journey.
Indian Ocean Regional Decade Conference 2024:
Decade Collaborative Centre for the Indian Ocean Region (DCC-IOR) organised the “Indian Ocean
Regional Decade Conference 2024: Bridging Billions to Barcelona” at INCOIS in Hyderabad,
Telangana.
• The conference was held under the Ambit of the United Nations’s Decade of Ocean
Science for Sustainable Development (2021-2030).
• This is an official prelude to the 2024 Ocean Decade Conference which will be held
from 10 – 12 April 2024 in Barcelona, Spain.
The conference was sponsored by MoES and technical support was provided by the
Intergovernmental Oceanographic Commission (IOC) of United Nations Educational, Scientific
and Cultural Organization (UNESCO).
About Indian National Centre for Ocean Information Services (INCOIS):
Director – Tummala Srinivasa Kumar
Headquarters – Hyderabad, Telangana
Established in 1999

INTERNATIONAL AFFAIRS
Mukesh Ambani Tops Among Indians and Ranks 2nd Globally on the Brand Guardianship
Index 2024
Mukesh Ambani, Chairman, and Managing Director (CMD) of Reliance Industries Limited (RIL),
has been ranked 1st among all Indians and 2nd globally in the Brand Guardianship Index
(BGI) 2024 compiled by Brand Finance, the world’s leading brand valuation firm. Brand
Finance’s survey gave Mukesh Ambani a BGI score of 80.3.

• Huateng Ma, Chairman, and Chief Executive Officer (CEO) of Chinese internet
giant Tencent Holdings recognised as the world’s leading CEO in the 2024 BGI, for his
guardianship of the WeChat brand with a BGI score of 81.6.

14
 • NVIDIA CEO Jensen
Huang ranked 3rd globally followed
by Apple Inc‘s Tim Cook (4th), and TATA
Sons‘ Natarajan Chandrasekaran (5th).
Points to Note:
i.Brand Finance released the 2024 BGI, the ranking
of the World’s top 100 CEOs or equivalents during
the World Economic Forum (WEF) in Davos,
Switzerland in January 2024.
ii.Mukesh Ambani ranks 2 in BGI 2024 for the
second consecutive time (2024 and 2023).
iii.Natarajan Chandrasekaran of TATA Sons, who
ranked 5th globally in BGI 2024 ranked 8th in 2023
BGI.
iv. Anish Shah of Mahindra Group ranked 6th globally; and Salil Parekh of Infosys ranked 16th
Brand Guardianship Index 2024:
i.The 2024 BGI reveals a robust correlation between exceptional brand leadership and
substantial brand value growth for businesses.
ii.Brands under the guidance of the top 100 CEOs experienced a 10% growth in brand values this
year.
iii.The brand values of brands led by the top 10 CEOs grew by an average of 40% this year.
Global Ranking of Brand Guardianship Index 2024 (Top 5):
Rank CEO Company Country BGI Score 2024
1 Huateng Ma Tencent China 81.6
2 Mukesh Ambani Reliance Group India 80.3
3 Jensen Huang NVIDIA United States 79.9
4 Tim Cook Apple Inc United States 79.3
5 Natarajan Chandrasekaran TATA Sons India 79.2
Top-ranked Indians in the 2024 BGI:
Rank (India) Global Rank CEO Company/Sector BGI 2024
1 2 Mukesh Amabani Reliance Group/ Diversified 81.6
2 5 Natarajan Chandrasekaran TATA Sons/ Diversified 79.2
3 6 Anish Shah Mahindra Group/ Diversified 78
4 16 Salil Parekh Infosys/ IT Services 73.7
5 22 Sashi Jagdishan HDFC Bank/Banking 72.9
Highlights of BGI 2024:
i.British-Indian Leena Nair, the global CEO of the luxury brand ‘Chanel’ (France) was recognised
as the world’s top female CEO (brand guardian).

15
ii.Mukesh Ambani secured the top spot in the ‘Diversified’ conglomerates category.
iii.For the 3rd consecutive year, Brand Finance has positioned Infosys among the world’s top 3
most valuable IT services brands.
Note –
Jensen Huang of NVIDIA is ranked number 1 for brand value growth during his tenure. He
topped the global ranking of the 2023 BGI.
Balanced Scorecard for CEO Reputation:
i.Brand Finance employs a comprehensive balanced scorecard to gauge CEO effectiveness in
stewarding their company’s brand and long-term value.
ii.The 2024 analysis highlights a significant shift, with Environmental, Social, and Governance
(ESG) emerging as the primary determinant of CEO reputation.
About Brand Guardianship Index (BGI):
BGI is a comprehensive study that ranks top CEOs and companies across various sectors,
highlighting their achievements in:
• Technology adoption;
• Sustainability efforts;
• Commercial leadership; and
• Strategic long-term vision.
Recent related News:
As per the 18th Global 500 2024 annual report by Brand Finance, Indian billionaire
Mukesh Ambani-led Reliance Jio continues to be India’s top and strongest brand, ranked 17th
among the world’s strongest brands in 2024, with a brand strength index (BSI) of 88.9 out of 100.
About Brand Finance:
Chairman and CEO– David Haigh
Headquarters– London, United Kingdom
Founded in– 1996

BANKING & FINANCE

Exim Bank Received Rs 9,013.72 Crore from MEA after Invoking GoI Guarantees
The Ministry of External Affairs (MEA) has provided Rs 9,013.72 crore to the Export-Import
Bank of India (Exim Bank) after the bank invoked Government of India (GoI) guarantees on
decade-old loans extended to some African countries.
• These loans were classified as “doubtful debts” in Financial Year(FY) 2023-24.
Background:
i.The Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) has supported
Lines of Credit (LOCs) to foreign countries under the Indian Development and Economic
Assistance Scheme (IDEAS).
ii.These countries include Asia (excluding Bangladesh, Nepal, and Bhutan) Africa, the

16
Commonwealth of Independent States (CIS) region and the Latin American region.
iii. Since 2003-04, LoC is supported by EXIM Bank.
Key Points:
i.Exim Bank had to invoke guarantees due to non-performing assets (NPAs) of the loans given
to African countries.
ii.Once guarantees are invoked, the funds are paid out of the Guarantee Redemption
Fund established in the Public Account of India since 1999-2000.
Additional Funds:
i.MEA has also allocated Rs 4,383.40 crore for FY25 for potential future guarantees.
ii.An amount of Rs 4,655 crore was sanctioned as an advance from the Contingency Fund of
India (CFI).
About Export-Import Bank of India (Exim Bank):
Managing Director(MD) – Harsha Bangari
Headquarters – Mumbai, Maharashtra
Established in – 1982

ECONOMY & BUSINESS

CRISIL Report: Indian Economy to Grow at 6.7% between Fiscals 2024-2031
According to the CRISIL (formerly Credit Rating Information Services of India Limited) report
titled “Indian Economy: Capital as Growth Driver”, the Indian economy is expected to grow at an
average rate of 6.7% per year between fiscals 2024 and 2031. This is slightly higher than the pre-
pandemic decadal average of 6.6%.

17
 • Capital was identified as the key
contributor, stemming from the
government’s investment-driven
strategy post-pandemic.
Key Points:
i.After a robust 7.3% growth in fiscal year 2023,
CRISIL projects a moderation to 6.4% in fiscal
year 2024, attributing it to cyclical factors.
ii.In 2024, Global economy is expected to
decelerate, and the impacts of the Reserve Bank
of India’s (RBI) rate hikes on domestic demand
will become apparent.
iii.Additionally, the report emphasises the
importance of monitoring the Middle East
conflict’s impact on energy and logistics costs.
iv.According to the report, In India, the inflation level of 5.7% in December 2023 was driven
solely by volatile vegetable prices and food-grain inflation.
• It keeps RBI cautious towards achieving the 4% inflation target.
• Core inflation decline and fuel price deflation are positive, but high food price levels of
the food items, which have substantial weight in the consumer price index (CPI), pose
a transmission risk to non-food components.
Government Initiatives:
i.The government’s increased capital expenditure and interest-free loans to states drive the
capital-led growth strategy.
ii.The focus on infrastructure build-up aims to counteract the private sector’s initial hesitancy
towards investments.
Global Dynamics:
i.The expected rate cut by the United States of America (US) Federal Reserve raises
uncertainties.
ii.Strong US labour market data and persistent inflation challenge the anticipated timing and
extent of the rate cuts in 2024.

APPOINTMENTS & RESIGNATIONS

Nangolo Mbumba Took Oath as Interim President of Namibia Following the Death
of Hage Gottfried Geingob
Nangolo Mbumba, former Vice President of the Republic of Namibia, took oath as the interim
President of Namibia after the death of incumbent President Hage Geingob on 4th February
2024.

18
Nangolo Mbumba will hold the post until the 2024 election.
Other Appointment:
Netumbo Nandi-Ndaitwah, who previously served as the Deputy Prime Minister and Minister of
International Relations and Cooperation, was appointed as the new vice president of Namibia.
About Nangolo Mbumba:
i.Nangolo Mbumba, a member of the South West Africa People’s Organization (SWAPO), has
served as the second vice-president of Namibia from 2018 to 2024.
ii.He has also served as the Union Minister holding various portfolios such as Minister of
Agriculture, Water and Rural Development, Minister of Finance, Minister of Information and
Broadcasting, Minister of Education and Minister of Safety and Security.
About Hage Geingob:
i.Hage Geingob served as the 3rd President of Namibia from 2015 until his death
ii.He has been the President of the ruling SWAPO Party since 2017.
iii.He served as the first Prime Minister (PM) of Namibia from 1990 to 2002 and served as PM
again from 2012 to 2015. He was the longest-serving PM of Namibia.
About Republic of Namibia:
President – Nangolo Mbumba
Capital- Windhoek
Currency – Namibian Dollar

SCIENCE & TECHNOLOGY

China Launched Jielong-3 with 9 Satellites and Long March-2C with 11 Geely-02 Satellites
The China Aerospace Science and Technology Corporation’s (CASC) Jielong-3, or Smart Dragon-
3 rocket, successfully launched nine satellites into the Sun-Synchronous Orbit (SSO), off the
coast of Yangjiang in southern Guangdong province, China.
• The launch was coordinated by the Taiyuan Satellite Launch Center, and it was the
third successful mission for the Smart Dragon-3 launch vehicle.
9 Satellites:
The Jielong-3 rocket that carried 9 satellites included:
• DRO-L

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 • Zhixing-2A (SmartSat-2A)
• DongFangHuiYan-GF01
• WeiHai-1-01/02
• XingShiDai-18/19/20
• NEXSAT-1
Note: NExSat-1 is for the Egyptian Space Agency (EgSA).
Features of Jielong-3:
i.Jielong-3, or Smart Dragon-3 (SD-3) is a small, powerful, and solid-propellant rocket developed
by the China Rocket Co. Ltd., affiliated with the China Academy of Launch Vehicle Technology
(CALT).
ii.It is also known as Lightning Dragon No. 3, which can carry a payload of 1,500 kilograms
(kg) into a 500-km SSO.
iii.It could carry over 20 satellites at a launch cost of under USD 10,000 per kg, a globally
competitive rate for small-lift rockets.
iv.Jielong-3 is comparable to CAS Space’s Lijian-1, capable of carrying a 1,500 kg payload to a
500-km SSO, which 1st flew in 2022.
Other Launches:
Chinese automaker Geely Holding Group has successfully launched 11 low-earth
orbit (LEO) satellites (Geely-02) by Long March-2C carrier rocket, marking its 2nd significant
dispatch in advancing accurate navigation technology for autonomous vehicles.
• The satellites were launched from the Xichang Satellite Launch Center in the
southwestern province of Sichuan, China.
About Geely’s Launch:
i.Geely expects to have 72 satellites in orbit by 2025 and envisions a constellation of 240 in the
future. The first launch was conducted in June 2022.
ii.Geely’s network not only offers high-precision positioning support to self-driving cars but also
serves diverse commercial functions such as connectivity to the consumer electronics sector.
iii.The satellites are equipped with Artificial Intelligence (AI) remote sensing functions,
providing 1-5 meter (3.2-16.4 ft) clear high-resolution remote sensing imaging.
iv.The Long March-2C carrier rocket was developed by the CALT, which is affiliated with the
CASC.

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Recet related News:
On 21 October 2023, the Indian Space Research Organisation (ISRO) successfully launched
Gaganyaan’s 1st flight Test Vehicle Abort Misiion-1 (TV-D1) from the Satish Dhawan Space
Centre in Sriharikota, Andhra Pradesh.
About China:
President– Xi Jinping
Premier– Li Qiang
Capital– Beijing
Currency– Chinese yuan renminbi

Indian Navy received the First 25T BP Tug ‘Yard 305 – Mahabali’
On 2nd February 2024, the first 25T Bollard Pull (BP) Tug, named ‘Yard 305 – Mahabali’ was
delivered to the Indian Navy (IN) at Naval Ship Repair Yard (NSRY) in Kochi, Kerala in the
presence of Rear Admiral Subir Mukherjee, Admiral Superintendent of NSRY (Kochi).
Background:
i.The contract for construction and delivery of three 25T BP Tugs was concluded with M/s Shoft
Shipyard Pvt Ltd (M/s SSPL), a Thane (Maharashtra) based Micro, Small & Medium
Enterprises (MSME), in November 2021.
ii.The three 25T BP Tug are: Yard 305 – Mahabali, Yard 306 – Baljeet and Yard 307 –
Bajran. These Tugs are built under the classification rules of the Indian Register of
Shipping (IRS).
Benefits: These tugs will improve the operational commitments of the 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 the capability to conduct limited Search and Rescue Operations.

Indian Navy Commissioned Survey Vessel INS Sandhayak (Yard 3025) in Visakhapatnam
On 3rd February 2024, the Indian Navy (IN) commissioned the Indian Naval
Ship (INS) Sandhayak (Yard 3025), the first of four Survey Vessel Large (SVL) ships, at the Naval
Dockyard, Visakhapatnam, Andhra Pradesh, in the presence of Union Minister Rajnath Singh,
Ministry of Defence (MoD), and Indian Navy Chief Admiral R. Hari Kumar.
• The contract for building four SVL ships was signed between the MoD and Garden
Reach Shipbuilders & Engineers Limited (GRSE).
• The ship was launched in 2021.
• It is equipped with state-of-the-art hydrographic equipment including Deep & Shallow
Water Multibeam Echo-Sounders, Autonomous Underwater Vehicle, Remotely
Operated Vehicle, Side scan sonars, Data Acquisition and Processing System, satellite-
based positioning systems and terrestrial survey equipment.
• SVL ships are 110 meters long, and 16 meters wide with a displacement of 3,400 tons.

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 • The other three SVL are Nirdeshak (Yard 3026), Ikshak (Yard 3027), and Sanshodhak
(Yard 3028)

BOOKS & AUTHORS

CDS Anil Chauhan unveils Book ‘Artificial Intelligence and National Security’ at Defence Lit
Fest in Pune
Chief of Defence Staff General Anil Chauhan unveiled a book titled ‘Artificial Intelligence and
National Security’, written by Amit Sinha and Vijay Khare and published by Pentagon Press at
the Defence Literature Festival, “Kalam and Kavach,” in Pune(Maharashtra).
• The book ‘AI and National Security’ explains about the application of Artificial
Intelligence (AI) in national security. It also examines India’s AI development in
comparison with global powers and insights into government initiatives.
• The first edition of the Defence Literature Festival, Kalam and Kavach was organised
by Army Southern Command along with Pentagon Press.
• Another book titled“Ukraine, Gaza, Taiwan…… A World at War” written by Ajay Singh
was released at the event.

Vice President Jagdeep Dhankhar launched a Book “Transforming HARYANA” by Kuldip

Chand Agnihotri
Jagdeep Dhankhar, Vice President (VP) of India, released the book titled “Transforming
HARYANA: 9 Incredible Years of Haryana Government” edited by Kuldip Chand Agnihotri,
Former Vice-Chancellor, Central University of Himachal Pradesh, Dharamshala, Himachal
Pradesh.
• The hindi translation of the book under the title “हरियाणा सिकाि के 9 अतुलनीय वर्ष: एक
नए एवं जीवंत हरियाणा का उदय“(9 Incredible Years of Haryana Government: Emergence of
a New and Vibrant Haryana) was also released. The book was translated by litterateur
and writer Dr. Shamim Sharma.
Key People: The book was launched in the presence of Manohar Lal Khattar, Chief Minister
(CM) of Haryana and Bandaru Dattatreya, Governor of Haryana.
About the book:
i.The book was published by OakBridge Publishing Private Limited.
ii.The foreword of the book is written by Ram Nath Kovind, Former (14th) President of India
(2017 to 2022).
iii.The book features 3 types of articles.
• Articles by scholars expressing their opinion on various schemes of the Haryana
government.
• Articles by officers of Haryana government regarding implementation of the schemes.

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 • Articles by scholars working in the academic field explaining the long-term impacts of
these schemes.

IMPORTANT DAYS
International Day of Human Fraternity 2024- February 4
The United Nations (UN) International Day of Human Fraternity is annually observed across
the globe on 4 February to promote peace, tolerance, inclusion, understanding, and solidarity
between all people of diverse faiths.

• The day emphasises the imperative need for dialogue among different faiths and
religions to enhance mutual understanding, harmony, and cooperation among people.
International Day of Human Fraternity falls in the middle of World Interfaith Harmony Week
(WIHW), an annual event observed during the 1st week of February, since 2010.
• 4 February 2024 marks the observance of the 4th International Day of Human
Fraternity.
Background:
i.On 21 December 2020, the United Nations General Assembly (UNGA) adopted the resolution
A/RES/75/200 and proclaimed the 4 February of every as the International Day of Human
Fraternity.
• The resolution was co-facilitated by Egypt and the United Arab Emirates (UAE), and it
acknowledges initiatives fostering interreligious and intercultural dialogue.
ii.The 1st ever International Day of Human Fraternity was observed on 4 February 2021.
Why February 4?
The date commemorates the signing of the “Document on Human Fraternity for World Peace
and Living Together” by His Holiness Pope Francis and His Eminence Grand Imam of Al-Azhar
Ahmed Al-Tayeb in Abu Dhabi, UAE on February 4, 2019.
• 4 February 2024 marks the 5th anniversary of the signing of the Document on Human
Fraternity for World Peace and Living Together.

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Culture of Peace:
In 1999, the UNGA adopted, the Declaration and Programme of Action on a Culture of Peace (by
resolution A/RES/53/243), which serves as the universal mandate for the international
community.
• It particularly focuses on the UN system, to promote a culture of peace and non-
violence that benefits all of humanity, including future generations.
World Interfaith Harmony Week (WIHW):
i.WIHW, conceived to promote a culture of peace and nonviolence, was first proposed by King
Abdullah II of Jordan at the UN in 2010.
ii.On 20 October 2010, the UNGA adopted the resolution A/RES/65/5 and declared the 1st week of
February (1-7) every year as World Interfaith Harmony Week.
UNESCO’s AI Ethics Recommendation:
i.In 2021, UNESCO introduced the ‘Recommendation on the Ethics of Artificial Intelligence (AI),’
adopted by 193 countries. It emphasizes human rights, transparency, and fairness in AI.
ii.This is part of UNESCO’s efforts to promote technology and innovation in the service of
humanity.
iii.The 2nd Global Forum on the Ethics of AI: Changing the Landscape of AI Governance, will
take place in the Brdo Congress Centre of Kranj on 5 and 6 February 2024.
Note:
• The 1st Global Forum on the Ethics of AI, with the theme, “Ensuring inclusion in the AI
world”, was hosted by the Czech Republic on 13th December 2022 in Prague.
• It was hosted under the Czech Presidency of the Council of the European Union (EU)
and the patronage of UNESCO.
2024 Events:
On 5 February 2024, on the occasion of the International Day of Human Fraternity 2024, the
United Nations Alliance of Civilizations (UNAOC) in partnership with the Permanent Missions
of Egypt and UAE to the UN, organised a virtual event to highlight the principles and values
included in the Document of Human Fraternity.
About United Nations Alliance of Civilizations (UNAOC):
UNAOC was established in 2005, as the political initiative of Kofi Annan, former UN Secretary-
General, and co-sponsored by the Governments of Spain and Türkiye.
High Representative– H.E. Mr. Miguel Ángel Moratinos
Headquarters– New York, United States of America (USA)

World Cancer Day 2024- February 4

World Cancer Day (WCD) is annually observed across the globe on 4 February to raise
awareness of fundamental cancer issues and to encourage its prevention, detection, and
treatment.
WCD is an international campaign that aims to remember and honour those affected by cancer,
and to take action to change the future of cancer.

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 • The campaign theme of WCD 2022-2024 is, ‘Close the Care Gap’. 2024 marks the 3rd
and final year of the campaign.
• The campaign theme of WCD 2024 is, “Close the Care Gap: Together, we challenge
those in power.”
Points to Note:
i.WCD is the global uniting initiative led by the Union for International Cancer Control (UICC),
the largest and oldest international cancer organisation.
ii.It is the only global cancer organisation representing all cancer types, across the cancer care
continuum (prevention, early detection, treatment, and palliative care).
Cancer Ribbon:
A lavender ribbon is usually a sign of support for those living with all types of cancer.
• The official colours of World Cancer Day are blue and orange.
Background:
i.On 4 February 2000, WCD was established by the Charter of Paris Against Cancer.
ii.The Charter comprising 10 articles was adopted at the World Summit Against Cancer for the
New Millennium in Paris, France.
iii.Under Article X, the Charter officially proclaimed World Cancer Day and was decided to
observe on 4 February of each year.
• The Charter aims to promote research, prevent cancer, improve patient services, raise
awareness, and mobilise the global community to make progress against cancer and
includes the adoption of WCD.
iv.The 1st WCD was observed on February 4, 2000.
What is cancer?
Cancer is a term for a large group of diseases that can affect any organ or tissue of the body
when abnormal cells grow uncontrollably, forming a lump called a tumour.
Close the Care Gap: A 3-year campaign:
i.The campaign is all about understanding and recognising the inequities in cancer care around
the globe.
• 2022- Realising the problem:
• 2023- Uniting our voices and taking action:
• 2024- Together, we challenge those in power:

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ii.The 2024 theme aims to elevate awareness and demand global leaders to prioritise and invest
resources in cancer prevention, promoting research, and supporting initiatives aimed at
achieving a cancer-free world.
World Cancer Day Equity Report:
i.It is a collection of testimonials by past and present UICC Board Members to illustrate the
global cancer care gap.
ii.It provides local perspectives and experiences on inequities in cancer care in regions around
the world, as well as expert recommendations on how to address them.
• It suggests further measures to close the care gap by 2030.
Note: The 1st edition of the report was published in 2023 and its 2nd edition was published in
2024.
Key Facts:
According to the World Health Orgnaisation (WHO):
i.Over 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20
million cases in 2022.
ii.High Human Development Index (HDI) countries anticipate the greatest absolute increase,
projecting 4.8 million new cases by 2050.
iii.Low and medium HDI countries face disproportionate proportional increases (142% and 99%,
respectively).
iv.Cancer mortality in these countries is set to nearly double by 2050, revealing significant
challenges in managing the burden.
Note: The International Agency for Research on Cancer (IARC) is the cancer agency of the WHO.
About Union for International Cancer Control (UICC):
Chief Executive Officer (CEO)- Dr Cary Adams
Headquarters– Geneva, Switzerland
Founded in– 1933
UICC has over 1,150 member organisations in 172 countries and territories.

STATE NEWS
GoI Notifies Appointment of Chief Justices to Seven High Courts
The Ministry of Law and Justice (MoL&J) notified the appointment of Chief Justice (CJ) to seven
High Courts (HC): Meghalaya, Allahabad (Uttar Pradesh), Gauhati (Assam), Orissa (Odisha),
Uttarakhand, Rajasthan, and Punjab & Haryana (Chandigarh).
New Appointment:
High Court New CJ/Acting CJ (ACJ) Previous CJ/ACJ
Justice Hamarsan Singh
Meghalaya Justice S. Vaidyanathan Thangkhiew
Allahabad Justice Arun Bhansali Justice Manoj Kumar Gupta

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 Gauhati Justice Vijay Bishno Justice Lanusungkum Jamir
Orissa Justice Chakradhari Sharan Singh Justice Bidyut Ranjan Sarangi
Uttarakhand Justice Ritu Bahri Justice Manoj Kumar Tiwari
Justice Manindra Mohan
Rajasthan Justice Manindra Mohan Shrivastava Shrivastava
Punjab & Justice Gurmeet Singh Sandhawalia
Haryana (ACJ) Justice Ritu Bahri
Details of the appointments:

Meghalaya:
Justice S. Vaidyanathan, Judge of the Madras HC(Tamil Nadu), was appointed as the CJ of
Meghalaya HC.
• He succeeds Justice Hamarsan Singh Thangkhiew, ACJ of Meghalaya HC.
• The post has been vacant since the retirement of Justice Sanjib Banerjee on 1st
November 2023.
• The appointment was made in pursuant to a recommendation made by the Supreme
Court collegium which includes Chief Justice of India (CJI) Dhananjaya Y.
Chandrachud, Justice Sanjay Kishan Kaul (Retired) and Justice Sanjiv Khanna.
Allahabad:
Justice Arun Bhansali, Judge of the Rajasthan HC, was appointed as the CJ of the Allahabad
HC(Uttar Pradesh).
• He succeeds Justice Manoj Kumar Gupta, ACJ of Allahabad HC.
• The post has been vacant since the retirement of Justice Pritinker Diwaker on 21st
November 2023.
Gauhati:
Justice Vijay Bishnoi, a senior puisne Judge of the Rajasthan HC, was appointed as the CJ of the
Gauhati HC(Assam).
• Justice Lanusungkum Jamir, ACJ of Gauhati HC(Assam).
• The post has been vacant since Justice Sandeep Mehta was elevated to the as a judge
of the Supreme Court.

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Orissa:
Justice Chakradhari Sharan Singh, Judge of the Patna High Court, was appointed as the CJ of
the Orissa HC(Odisha).
• He succeeds Justice Bidyut Ranjan Sarangi, ACJ of Orissa HC.
• The post has been vacant since the retirement of Justice Subhasis Talapatra on 3rd
October 2023.
Uttarakhand:
Justice Ritu Bahri, ACJ of the Punjab and Haryana High Court, was appointed as the CJ of the
Uttarakhand HC.
• She succeeds Justice Manoj Kumar Tiwari, ACJ of Uttarakhand HC.
• The post has been vacant since the retirement of Justice Vipin Sanghi on 26th October
2023.
• Rity Bahri becomes the first Women CJ of Uttarakhand HC.
Rajasthan:
Justice Manindra Mohan Shrivastava, presently serving as the ACJ of the Rajasthan HC, was
appointed as the CJ of the Rajasthan HC.
• He has been serving as ACJ of Rajasthan HC since November 2023 succeeding Justice
Augustine George Masih.
Note: The above 6 appointments were made by the President of India, Droupadi Murmu, in the
exercise of the power conferred by clause (1) of Article 217 of the Constitution of India.
Punjab and Haryana HC:
In exercise of the power conferred by Article 233 of the Constitution of India President Droupadi
Murmu appointed Justice Gurmeet Singh(GS) Sandhawalia, as the ACJ of Punjab and Haryana
HC.
• Prior to the appointment, Justice GS Sandhawalia was serving as the Judge of Punjab
and Haryana HC.
• He succeeds Justice Ritu Bahri, the ACJ of Punjab and Haryana HC, who was elevated
as the CJ of Uttarakhand HC.
Additional info:
i.Article 217 states that every Judge of an HC shall be appointed by the President of India after
consultation with the Chief Justice of India the governor of the state.
ii.Article 233 deals with the appointment of district judges and the posting and promotion of
district judges.
About Ministry of Law and Justice(MoL&J):
Minister of State(MoS) Independent charge – Arjun Ram Meghwal (Constituency- Bikaner,
Rajasthan)

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