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 Weekly Content PDF
Current Affairs Weekly PDF – January 2024 – 1st Week
(1 – 8)
NATIONAL AFFAIRS
UP ranks First in the Inter-Operable
Criminal Justice System for 3rd
Consecutive Year
Uttar Pradesh (UP) has ranked first for the third
consecutive year in recording the highest entries
(1,56,22,514 entries) on the Inter-Operable
Criminal Justice System (ICJS) platform. With
35,04,828 entries Madhya Pradesh (MP) secured
second position and Bihar is in third place with
16,65,107 entries.
FinMin imposes Anti-Dumping Duty on
‘Wheel Loaders’ imports from China & on
Gypsum Board from China, Oman
The Ministry of Finance has imposed a definitive
anti-dumping duty on imports of 'Wheel Loaders'
from China for a period of 5 years. The duty rates,
ranging from 18.84% to 82.71%, vary based on
the producer and specific goods. The duty will be
applicable on imports in complete build unit (CBU)
and semi-knocked down (SKD) forms, and not on
the completely knocked down (CKD) form.
Uttar Pradesh is set to build India’s 1st AI
city in Lucknow
Uttar Pradesh(UP) is set to build India’s first
Artificial intelligence (AI) city in Lucknow to
promote AI ecosystem. The AI city will be a hub
integrating cutting-edge technology, research
centres, and educational institutions. U.P.
Electronics Corporation Limited, the nodal
agency of the project, has issued an Expression of
Interest (EoI) inviting real estate developers to
build and operate the AI city.
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ULFA faction inks Memorandum of
Settlement with Govt of India & Assam
On 29th December 2023, The faction of United
Liberation Front of Assam (ULFA) led by
Arabinda Rajkhowa, signed a Memorandum of
Settlement (peace pact), with the government of
India and Assam. ULFA, the oldest insurgent group
in the Assam, was formed in April 1979 after the
agitation against undocumented immigrants from
Bangladesh (erstwhile East Pakistan).
Tenure of PLI Scheme for Automobile and
Auto Components extended by 1 Year with
Partial Amendments
The Ministry of Heavy Industries (MHI) extended
the Production Linked Incentive (PLI) Scheme for
Automobile and Auto Components by one year,
with partial amendments. This amended incentive
scheme will be applicable for five consecutive
financial years, starting from 2023-24 (FY24) and
ending in 2027-28 (FY28).
66th Foundation Day of DRDO - 1st January
2024
Defence Research & Development Organisation
(DRDO), the Research and Development (R&D)
wing of the Ministry of Defence (MoD), annually
celebrates its Foundation day or Raising Day on 1
January. DRDO, formed in 1958, celebrated its
66th foundation day on 1st January 2024.
✓ DRDO Chairman also launched the
Quantity-Distance Software developed
by Pune(Maharashtra)-based lab, High
Energy Materials Research Laboratory
(HEMRL), to automate the siting of
explosives and related buildings.
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 Weekly Content PDF
✓ DRDO received Acceptance of Necessity
(AoN) worth around Rs. 1,42,000 crore for
the induction of several DRDO-developed
systems.
Gujarat Emerges as 'Petro Capital' of India
Gujarat has been recognised as the 'petro capital'
of India, due to the presence of the Reliance
Industry Limited’s Jamnagar refinery and ONGC
Petro Additions Limited (OPaL)’s state-of-the-art
petrochemical complex at Dahej in Bharuch
district.
✓ OPaL is one of South Asia's single largest
petrochemical complexes. It is a joint
venture(JV) between the Oil and Natural
Gas Corporation (ONGC), the Gas
Authority of India (GAIL) & Gujarat State
Petroleum Corporation Limited (GSPC).
CDSCO launches NSWS Portal for Medical
Devices Management
On January 1, 2024, the Central Drugs Standard
Control Organisation (CDSCO), under the
Directorate General of Health Services, Ministry of
Health & Family Welfare(MoHFW), launched the
National Single Window System (NSWS) Portal
to streamline, import, clinical investigations, and
testing of medical devices.
✓ The site is designed and developed by
Invest India, under the Department for
Promotion of Industry and Internal Trade
(DPIIT), Ministry of Commerce and
Industry(MoCI), through Tata Consultancy
Service (TCS) for CDSCO.
Desert Cyclone 2024: 1st India-UAE Joint
Military Exercise Begins in Mahajan,
Rajasthan
Desert Cyclone 2024, the 1st edition of the
India-United Arab Emirates (UAE) joint military
exercise, commenced in Mahajan, Rajasthan on
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2nd January 2024. The 2-week-long Exercise will
conclude on 15th January 2024.
Note: “Desert Eagle”, the first-ever India-UAE
Joint Air Forces exercise took place in September
2008 at the Al-Dhafra base in Abu Dhabi, UAE.
Govt amends CCS (Pension) rules 2021;
Allows Female Govt Servant/Pensioner to
Nominate her child for Family Pension
The Department of Pension and Pensioners’
Welfare (DoPPW), under the Ministry of
Personnel, Public Grievances & Pensions, has
amended the Central Civil Services (CCS)
(pension) rules, 2021, to allow female
government servant/pensioner to nominate her
child/children for family pension in precedence to
her husband.
Note: The sub-rules (8) and (9) of Rule 50 of CCS
(Pension) Rules, 2021, states that if a deceased
Government servant/pensioner is survived by a
spouse, a family pension is initially granted to the
spouse, with other family members becoming
eligible only after the spouse becomes ineligible or
passes away.
J&K becomes First UT to Implement PM
Vishwakarma Yojana
Jammu and Kashmir (J&K) has become the first
Union Territory (UT) in India to implement the
Pradhan Mantri Vishwakarma Yojana (PMVY). The
training programme for the 1st batch of 30 trainees
(Viswakarmas) in 'darzi craft' under PMVY was
inaugurated at Industrial Training Institute (ITI)
Shopian, J&K.
✓ PM Vishwakarma Yojana (PMVY) is a
Central Sector Scheme (CSS) launched by
the Ministry of Micro, Small and Medium
Enterprises (MoMSME) in September
2023. The tagline of the scheme is
‘Samman Samarthya Samridhi’.
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EPFO extends Deadline to Upload Wage
Details for Higher Pension Options till May
31
On January 3, 2024, the Employees' Provident
Fund Organisation (EPFO) has approved a five
months extension for employers for uploading
wage details of higher pension options online i.e.
till 31st May, 2024 from 31st December 2023.
NHAI & NRSC Entered into MoU to Develop
and Report Green Cover Index for National
Highways in India
The National Highways Authority of India (NHAI)
signed a Memorandum of Understanding (MoU)
with the National Remote Sensing Centre
(NRSC), one of the primary centres of the Indian
Space Research Organization (ISRO), for 3 years
to develop and report a “Green Cover Index” for
the vast National Highways network in India.
President Droupadi Murmu Gives Assent to
Two Bills on December 2023
President of India Droupadi Murmu gave assent to
two bills including The Chief Election
Commissioner and Other Election Commissioners
(Appointment, Conditions of Service and Term of
Office) Bill, 2023, and The Press and Registration
of Periodicals (PRP) Bill, 2023
✓ The Chief Election Commissioner and
Other Election Commissioners
(Appointment, Conditions of Service and
Term of Office) Bill, 2023
✓ The Press and Registration of Periodicals
Bill, 2023 replaces the Press and
Registration of Books Act, 1867
3 Products from Arunachal Pradesh gets GI
tag: Adi Kekir, Handmade Carpets &
Wancho Craft
Chennai, Tamil Nadu (TN) based Geographical
Indications Registry has awarded the
Geographical Indication (GI) tag to 3 indigenous
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products from Arunachal Pradesh (AR) namely
Adi Kekir (ginger), Handmade Carpet (by Tibetan
settlers), and Wancho Wooden Craft. With the
addition of 3 new GI products, Arunachal Pradesh
now has a total of 8 GI products.
QCI & KVIC Signed MoU to Enhance Quality
of Khadi Products; Introduce Made-in-India
Khadi Labels
The Quality Council of India (QCI) and the Khadi
and Village Industries Commission (KVIC)
signed a Memorandum of Understanding (MoU) at
Kochrab Ashram in Ahmedabad (Gujarat) to
improve the quality of Khadi products, introduce
Made-in-India label for khadi, and empower khadi
artisans.
Union Cooperation Minister Amit Shah
launched ‘e-samridhi portal’, a Tur Dal
Procurement portal for Farmers
Union Minister Amit Shah, Ministry of
Cooperation, launched the 'e-samridhi portal', a
platform for registration, purchase, and payment
of tur dal producing farmers across India. the
portal was launched during the national
symposium on ‘Self-reliance in Pulses’ held in
New Delhi, Delhi.
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✓ The portal was developed by National
Agricultural Cooperative Marketing
Federation of India Ltd. (NAFED) and
National Cooperative Consumers'
Federation of India Limited (NCCF).
MeitY Secretary S Krishnan launches ERNET
India’s web portal for Educational
Institutions
S Krishnan, Secretary, Ministry of Electronics &
Information Technology (MeitY) and chairperson of
the Executive committee of Education and
Research Network (ERNET), India, launched
integrated web portal (https://ernet.in/) of ERNET
India for educational institutes in India.
✓ The portal was created using open-source
software and advanced technologies like
Artificial Intelligence (AI) and Machine
Learning (ML).
Overview of PM Modi’s visit to Tamil Nadu,
Lakshadweep & Kerala on 2nd & 3rd January
2024
Prime Minister (PM) Narendra Modi visited Tamil
Nadu(TN), Lakshadweep and Kerala from 2nd to
3rd January 2024.
✓ PM Modi inaugurated and laid the
foundation stone for multiple development
projects worth more than Rs 20,000
crores in the Tiruchirappalli (Trichy) district
of Tamil Nadu.
✓ PM inaugurated and laid the foundation
stone for multiple development projects
worth Rs 1150 crore at Kavaratti Island in
Lakshadweep on 3rd January 2024.
✓ PM Modi held a mega roadshow in Thrissur
during his visit to Kerala. He also
addressed the Bharatiya Janata Party’s
women’s conference “Sthree Shakti
Modikkoppam” held at
Thekkinkadu Maidan, Thrissur, Kerala.
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Three varieties of handloom Sarees in West
Bengal & 7 Products from Odisha get GI
tag
The Geographical Indications Registry under the
Department for Promotion of Industry and Internal
Trade (DPIIT), Ministry of Commerce and Industry
in Chennai, has recently awarded geographical
indication (GI) tags to 3 handloom sarees of West
Bengal, namely Tangail, Korial and Garad
received geographical indication (GI) tags under
the goods of Textiles.
✓ The Geographical Indications Registry also
awarded GI tags to 7 distinct products of
Odisha. These include two local foods,
three agricultural products and one each
for Textile and Handicraft products viz.
Lanjia Saura painting, Dungaria Kondh
embroidered shawl, Gajapati Date Palm,
Dhenkanal Magji, Mayurbhanj Kai Chutney,
Nayagarh Kanteimundi Brinjal and Koraput
Kalajeera Rice.
MoD Signs Contracts worth Rs 802 Cr with
Jupiter Wagons Ltd & BEML for Military
Equipment
The Ministry of Defence (MoD) has inked 2
contracts worth Rs 802 crore for indigenous
military equipment. The 1st contract, worth
Rs 473 crore, was inked with M/s Jupiter Wagons
Limited for the procurement of 697 Bogie Open
Military (BOM) wagons.
✓ The 2nd contract, worth Rs 329.87 crore,
was signed with M/s BEML Limited
(Formerly Bharat Earth Movers Limited ) for
the procurement of 56 Mechanical
Minefield Marking Equipment
(MMME) Mark II.
Overview of PM Modi’s visit to Ayodhya
(Uttar Pradesh) on 30th December 2023
On 30th December 2023, Prime Minister Narendra
Modi visited Ayodhya, Uttar Pradesh for the
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inauguration and launch of various initiatives and
events as follows:
i.PM Laid the Foundation Stone of Development
Projects Worth Over Rs 15,700 Crore in Ayodhya
and other parts of Uttar Pradesh
ii.PM Inaugurated Redeveloped Ayodhya Railway
Station, Flags off Two Amrit Bharat and Six Vande
Bharat Trains.
✓ The Amrit Bharat Express runs from
Darbhanga-Ayodhya - Anand Vihar
Terminal, and Malda Town - Sir M.
Visvesvaraya Terminus (Bengaluru,
Karnataka)
iii.PM Inaugurated Maharishi Valmiki International
Airport
iv.Ram Idol Carved by Sculptor Arun Yogiraj
Selected for Ayodhya's Ram Temple
INTERNATIONAL AFFAIRS
Overview of EAM Jaishankar's Visit to
Russia from 25 - 29 December 2023
External Affairs Minister (EAM) S. Jaishankar was
on a 5-day visit to Russia from 25-29 December
2023 as a part of the ongoing high-level exchanges
between India and Russia.
✓ EAM Signed Documents on Kudankulam
Nuclear Power Plants
✓ India and Russia Sign Protocol on
Consultations for the Next Four Years to
make progress in economic cooperation,
energy trade, connectivity, military-
technical cooperation, and people-to-
people exchange.
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Indian Railways signs 3rd MoU with CII to
Facilitate Green Initiatives
Indian Railways (IR) and Confederation of Indian
Industry (CII) have signed the Memorandum of
Understanding (MoU) to reduce energy and water
consumption and lowering greenhouse gas (GHG)
emissions.
✓ The MoU been renewed for the 3rd
consecutive time since 2016.
✓ This renewed MoU with CII-Green
Business Centre(GBC) aims to achieve
IR’s target of Net Zero Carbon Emission by
2030.
IMAC to be Upgraded to National Maritime
Domain Awareness in 3 Years
The Indian Navy (IN)’s Information Management
and Analysis Centre (IMAC) in Gurugram, Haryana
is set to be upgraded into the National Maritime
Domain Awareness (NMDA) centre in about 3
years. NMDA aims to address maritime challenges
in the Indian Ocean Region (IOR).
Five New Countries Join BRICS in 2024
Five countries namely Egypt, Ethiopia, Iran, Saudi
Arabia, and the United Arab Emirates (UAE) has
joined BRICS(Brazil, Russia, India, China, and
South Africa) bloc as their membership came into
force from January 1, 2024. With the induction of
new members, BRICS’ membership count
increased to 10 from 5.
✓ The act of inducting new members into the
bloc was decided in 15th BRICS summit
under the chairmanship of South Africa in
August 2023.
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BANKING & FINANCE

Report on Trend and Progress of Banking in ✓ Bank’s Capital Adequacy Ratio to Fall 71
India 2023 : RBI bps on Higher Risk Weight
Reserve Bank of India (RBI) released the report
titled “Report on Trend and Progress of Banking in
India” (2022-2023).
✓ Small Finance Banks (SFBs) has the
widest gap of remuneration between top
executives and average employee
✓ RBI Data on Variable Pay(VP) for different
banks in India: For Private Sector Banks
(PVBs), share of variable pay in total
remuneration increased from 31 %( at
March-end 2021) to 39 %( at March-end
2022).
✓ RBI flagged the interconnectedness of
Small Finance Banks (SFBs) with Co-
operative Banks
✓ The RBI revealed that grievances related to
loans and advances, deposits increased RBI extends Deadline for Implementation of
exponentially to 60%, 70% respectively at Instructions regarding Penal Charges in
Reserve Bank of Ombudsman. Loan Accounts to April 1, 2024
✓ RBI report showed that total number of On December 29, 2023, the Reserve Bank of India
Automated Teller Machines (ATMs) in India (RBI) extended the deadline for implementation of
increased by 3.5% in FY22. White-label Instructions regarding Penal Charges in Loan
ATM accounted maximum number of Accounts by three months i.e. from January 1,
ATMs. 2024 to April 1, 2024, as a part of fair lending
practices.
Highlights of 28th Financial Stability Report ✓ In this regard, all Regulated Entities (REs)
by RBI must implement the new penal charges
instructions for fresh loans from April 1,
RBI (Reserve Bank of India) has released the half-
2024.
yearly publication of the Financial Stability Report
✓ In case of existing loans, the transition to
2023 (September 2023), which assesses risks to
the new regime should be ensured by the
financial stability and the resilience of the Indian
next review/renewal date on or after April
financial system.
1, 2024, but no later than June 30, 2024.
✓ None of the Top 100 Borrower Accounts in
the NPA Category for Scheduled
Commercial Banks(SCBs) Bandhan Bank Introduces ‘Inspire’
✓ RBI Report Finds Debt Fund AUM (Asset Programme Exclusively for Senior Citizens
Under Management) of Rs.1.7- lakh Crore Bandhan Bank Limited has launched a new
in Stress scheme called ‘Inspire’ programme designed to

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 Weekly Content PDF
cater to the specific needs and aspirations of
senior citizens. It offers plans that focus on
financial security, healthcare, and convenience of
old age people.
Eligibility: Individuals residing in India of age 60
years and above.
✓ Monthly Average Balance (MAB) should be
Rs.1 lakh for Premium Savings Account
and Rs.25,000 for Advantage Savings
Account.
BOI Launched Super Special 175 days FD at
7.5% Interest
Bank of India (BoI), a Public Sector Bank(PSB), has
launched a Super Special Fixed Deposit (FD)
scheme with a specified maturity period of 175
days, commencing from January 1st, 2024. The
scheme offers a interest rate of 7.50% per annum
for deposits ranging from Rs 2 crore to less than
Rs 50 crore.
RBI revised guidelines for Inoperative
Accounts and Unclaimed Deposits;
Enhances Bulk Deposit Limit for Large UCBs
to Rs 1cr & above
On January 1, 2024, the Reserve Bank of India
(RBI) has issued revised guidelines for classifying
accounts and deposits as inoperative accounts
and unclaimed deposits by banks which will come
into effect from April 1, 2024.
✓ RBI also revises Bulk Deposits limit for
Scheduled Primary (Urban) Co-operative
Banks in Tier 3 and 4 to Rs 1 crore and
above from Rs 15 lakh and above. This is
6.66 times increase.
LEO1 and NSDL Payment Bank launched the
MasterCard Powered LEO1 Card
LEO1 (formerly known as Financepeer), an Edu-
fintech startup, in collaboration with NSDL
Payments Bank Limited (NPBL), the wholly-owned
subsidiary of National Securities Depository Ltd
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(NSDL), has launched ‘LEO 1 Card’ which is
India’s first numberless Prepaid ID card with
MasterCard as a network partner.
✓ The Bank of Baroda (BoB), one of a public
sector bank, has launched the National
Common Mobility Card (NCMC) RuPay
Reloadable Prepaid Card in alignment with
the ‘One Nation, One Card’ initiative.
HDFC Bank Executed Transactions as part
of the ‘UPI for secondary market’ Facility
HDFC Bank Limited has executed transactions via
the National Payments Corporation of India
(NPCI)’s Unified Payments Interface (UPI)
payments app as a part of the ‘UPI for secondary
market’ facility.
RBI grants Payment Aggregator Licence to
Tata Pay & DigiO
Tata Group’s digital payments arm, Tata
Communications Payment Solutions Limited
(Tata Pay), has received approval from the
Reserve Bank of India (RBI) to act as a Payment
Aggregator (PA).
✓ The Groww (financial services platform)-
backed identity verification startup, DigiO,
also has received PA licence from RBI.
RBI Issues Master Direction on Commercial
Paper & Non-Convertible Debentures 2024
On January 3, 2024, the Reserve Bank of India
(RBI) issued Master Direction – RBI (Commercial
Paper and Non-Convertible Debentures of original
or initial maturity upto one year) Directions, 2024
which will come into effect from April 01, 2024.
✓ CPs and NCDs must be issued and held in
dematerialized form with a Securities and
Exchange Board of India (SEBI) registered
depository.
✓ The minimum denomination for CPs and
NCDs is Rs 5 lakh, with multiples of Rs 5
lakh thereafter.
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✓ CPs have a tenor between seven days and
one year, while NCDs have a tenor
between ninety days and one year.
✓ Primary issuances of CPs and NCDs,
involving both fund payment to the issuer
and issuance to investors, must be settled
within T+4 working days from the deal
date.
Bajaj Finserv launched India’s First Credit
Pass, Powered by CIBIL
Bajaj Finserv Limited has launched a Credit Pass,
a first-of-its-kind subscription in India, that
enables its customers to get real-time access to
their credit dashboard to track and monitor credit
health. The credit pass is powered by TransUnion
CIBIL Limited (formerly Credit Information Bureau
(India) Limited), a credit information company
(CIC) operating in India.
AU SFB Collaborated With Mastercard To
Launch Platinum Debit Card
AU Small Finance Bank (SFB) Limited in
partnership with United States of America (USA)
based Mastercard has launched
‘Mastercard Platinum Debit Card’ designed for
Corporate Salary Customers. The card was
introduced under the theme #Swipe&Save.
WB Issued Bonds in Three Currencies to
Finance Social Projects
The World Bank (WB) has raised funds by issuing
bonds in three different currencies namely
Canadian dollars (CAD), Australian dollars(AUD),
and United States Dollars (USD) to support the
financing of green and social projects, programs
and activities in the member countries.
i.5-year AUD Sustainable Development Bond -
AUD 2 billion
ii.7-Year USD Sustainable Development Bond -
USD 5 billion
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iii.5-year CAD Sustainable Development Bond -
CAD 1.4 billion
Customer Complaints should be
communicated in 30 days: RBI IO for RE
Directions, 2023
The Reserve Bank of India (RBI) issued the Master
Direction - Reserve Bank of India (Internal
Ombudsman for Regulated Entities) Directions,
2023, as per which the regulated entities (REs)
and their Internal Ombudsmen (IOs) should
communicate a final decision to customers within
30 days of receiving a complaint.
✓ If IO/DIO tenure is fixed, it should not be
less than 3 years and also should not
exceed 5 years, with no eligibility for
reappointment or extension in the same
RE.
REC & BoB sign MoU to Finance Power, Infra
and Logistics Projects
REC Limited (formerly Rural Electrification
Corporation Limited) signed a Memorandum of
Understanding (MoU) with Bank of Baroda (BoB)
to jointly offer loans for power, infrastructure and
logistics projects for a duration of three years (till
2026).
World Bank’s IBRD raises GBP 1.5 billion in
5-year Sustainable Development Bond
The World Bank (WB) arm International Bank for
Reconstruction and Development (IBRD) has
priced a 5-year Sustainable Development Bond in
Great British Pound sterling (GBP) to raise GBP
1.5 billion from investors, contributing to finance
sustainable development initiatives in World Bank
member countries.
SBI raises USD 250 million through Green
Bonds to Finance Green Projects
State Bank of India (SBI),the largest public sector
bank in India, has raised USD 250 million by
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 Weekly Content PDF
issuing 5-year green bonds (also known as green
notes) which will mature on 29th December 2028
to fund green projects which are in line with SBI’s
Environmental, Social and Governance (ESG)
Financing framework.
ECONOMY & BUSINESS
India's GDP growth to Exceed 6.5% in FY24:
DEA
The “Half-Yearly Economic Review 2023-24-
November 2023” released by the Department of
Economic Affairs (DEA), Ministry of Finance,
mentioned that India’s real Gross Domestic
Product (GDP) grew by 7.7% in the first half (H1)of
financial year 2023-2024 (FY24). With this, India is
expected to achieve a growth rate of over 6.5% in
FY24. India’s real GDP grew by a 7.6% on a year-
on-year (YoY) basis in 2nd quarter (Q2) of FY24
REC Limited & RVNL signed MoU to Finance
RVNL Infrastructure Projects up to Rs
35,000 Cr
REC Limited (formerly Rural Electrification
Corporation Limited) signed a Memorandum of
Understanding (MoU) with Rail Vikas Nigam
Limited (RVNL) to finance up to Rs 35,000 crore
for multi-modal infrastructure projects to be
executed by RVNL over the next 5 years.
✓ These projects will include multi-modal
logistics hub projects, rail infrastructure
projects, and road, port, and metro
projects where RVNL is venturing into.
India Ratings raises India’s GDP growth
forecast for FY24 to 6.7% from 6.2%
India Ratings and Research (Ind-Ra) Private
Limited, part of the Fitch Group, increased India's
Gross Domestic Product (GDP) growth estimate
for 2023-2024(FY24) to 6.7% from 6.2%. India
Ratings expects current account deficit to narrow
to 1.3% of GDP in FY24 from 2.0% in FY23.
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SBI’s Syndicated Social Loan of USD 1 Billion:
SBI has successfully raised USD 1 Billion through
Syndicated Social Loan to cater to the domestic
ESG financing market.
✓ Ind-Ra predicts global inflation declines to
6.9% in 2023 and 5.8% in 2024 (2022:
8.7%).
Ola Electric Becomes First Indian e2W
Company Eligible for PLI Scheme
Ola Electric Mobility Private Limited(Ola), has
become the 1st Indian electric two-wheeler
(e2W) company to get eligible for the Production-
Linked Incentive (PLI) scheme after receiving
approval from the Ministry of Heavy Industries
(MHI). The PLI certification offers Ola a financial
benefit of Rs 15,000 to Rs 18,000 per unit.
India Projected to Grow at 6.2% in 2024:
UN-DESA WESP 2024
According to the United Nations Department of
Economic & Social Affairs (UN-DESA) released
World Economic Situation and Prospects (WESP)
2024 report projecting India's economic growth to
reach 6.2% in 2024 which is slightly lower than the
6.3% estimate for 2023.
✓ India's GDP is estimated to reach 6.6% in
2025.
✓ South Asia's Gross Domestic Product
(GDP) is expected to increase by 5.2% in
2024. It grew by an estimated 5.3% in
2023.
✓ It forecasts a slowdown in global
economic growth from 2.7% in 2023 to
2.4% in 2024 with short-term risks and
structural vulnerabilities.
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India’s GDP likely to grow by 7.3% in FY24:

First Advance Estimated by NSO
The National Statistical Office (NSO), Ministry of
Statistics and Programme Implementation
(MoSPI) released the First Advance Estimates
(FAE) of National Income for the financial year
2023-24, both at Constant (2011-12) and Current
Prices.
✓ As per it, Indian economy growth in real
GDP will be at 7.3% in FY24 as compared
to the 7.2% in FY23. While in nominal
terms, the projected GDP growth for India
in FY24 is 8.9%
Vitol and GAIL Sign Long-Term LNG Supply
Deal into India
GAIL (India) Limited, a Maharatna Central Public
Sector Enterprise (CPSE) under the Ministry of
Petroleum and Natural Gas (MoPNG), has signed
a Long Term Liquefied Natural Gas (LNG) deal
with Singapore-based Vitol Asia Pte Limited for
the supply of approximately one million metric
tons of LNG per annum into India for a period of
about 10 years, with effect from 2026.

AWARDS & RECOGNITIONS

Indian Cricketer Virat Kohli Won Pubity recognises the corporate entities and individuals
Sport Men’s Athlete of Year 2023 Award for outstanding contribution in the area of sports
Indian cricketer Virat Kohli won the Pubity Sport promotion and development.
Men’s Athlete of the Year 2023 Award by defeating Winners of
Argentine footballer Lionel Messi in the final clash 2023 Rashtriya Khel Protsahan Puruskar:
of the online poll in which Kohli got 78 percent out The 2023 award was announced under 2
of the total votes while Messi got remaining 22 categories:
percent. Category Winners
✓ Spanish footballer Aitana bonmati
Identification and Jain Deemed to be
(76%)wins Pubity female Athlete of The
nurturing of budding / University,
Year 2023 Award by defeating American
young talent Bengaluru, Karnataka
tennis player Coco Gauff (24%).

MoYAS Announced Winners of ‘Rashtriya Encouragement to sports Odisha Mining Corporate

Khel Protsahan Puruskar’ 2023 through Corporate Social Limited
On 4th January 2023, the Ministry of Youth Affairs Responsibility
& Sports(MoYAS) announced the winners of
‘Rashtriya Khel Protsahan Puruskar’ 2023 which Bhubaneswar, Odisha

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 Weekly Content PDF
APPOINTMENTS & RESIGNATIONS
GoI Constitutes 16th Finance Commission
of India with Arvind Panagariya as Chairman
The Government of India, has constituted the
16th Finance Commission of India with Dr
Arvind Panagariya, former Vice-Chairman(VC),
NITI Aayog(National
Institution for Transforming
India)(2015 to 2017) as
Chairman.
✓ Ritvik Ranjanam
Pandey, Joint
Secretary
(Revenue), Ministry of Finance, was
appointed as the Secretary to the
Commission.
✓ The Chairman and other members of the
Commission will hold the post from date
on which they assume office up to the date
of submission of Report or 31st October
2025.
Congo President Félix Tshisekedi Re-
Elected for 2nd term
Félix-Antoine Tshisekedi
Tshilombo, the leader of Union
for Democracy and Social
Progress (UDPS) party, was re-
elected as the President of the
Democratic Republic of Congo
(DRC) for the 2 term. He is set to sworn in as the
nd
President of Congo on 20th January 2024.
Nadia Calviño of Spain took over as 1st
Woman President of European Investment
Bank
On 1st January 2024, Nadia
Calviño Santamaría, a Spanish
economist and civil servant, took
over as the 8th President of the
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European Investment Bank (EIB), the lending arm
of the European Union(EU).
✓ With this appointment, she became the
first woman President of EIB.
✓ She succeeds Werner Hoyer of Germany,
who held the post since 2012.
MNRE sets up 3-member Dispute
Resolution Committee to Settle Unforeseen
Disputes between Developers and REIAs
The Ministry of New & Renewable Energy
(MNRE) has set up a 3-member Dispute
Resolution Committee (DRC) to resolve
"unforeseen disputes" between Renewable
Energy (solar and wind) Power developers,
Engineering, Procurement, and Construction
(EPC) contractors, and Renewable Energy
Implementing Agencies (REIAs).
✓ Members of the committee: Rajesh
Bhushan, Former Health Secretary; M F
Farooqui, Former Telecom Secretary; and
Kumar Alok, Former Chief Secretary of
Tripura.
Succes Masra Appointed as Chad’s Prime
Minister
Succes Masra, president of
‘The Transformers’ party and
former opposition leader, was
appointed as the Prime
Minister (PM) of the Republic
of Chad by transitional
government under the presidentship of
General Mahamat Idriss Deby Itno following a
referendum. Succes Masra will replace Saleh
Kebzabo who resigned from the post in December
2023.
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Kuwait Emir Appoints Sheikh Mohammed
Sabah al-Salem al-Sabah as PM of Kuwait
Sheikh Meshal al-Ahmad Al-
Jaber al-Sabah, Emir of
Kuwait, has appointed Sheikh
Mohammed Sabah al-Salem
al-Sabah as the Prime
Minister(PM) of Kuwait and
has been tasked to form a new cabinet. He
succeeds Sheikh Ahmad Nawaf Al Ahmad Al
Sabah, the son of late Emir Nawaf Al-Ahmad Al-
Jaber Al-Sabah, who has been serving as the PM of
Kuwait since 2022.
Shashi Kumar Singh Elected as President of
All India Rubber Industries Association
Shashi Kumar Singh, Director
of Osaka Rubber Private
Limited, was elected as the
President of All India Rubber
Industries Association (AIRIA)
(2023-24), the apex body for
rubber industries in India. He will succeed
Ramesh Kejriwal, who served as the President of
AIRIA from 2022-23.
Canara Bank CGM P Santhosh Appointed as
MD & CEO of NARCL; Natarajan Sundar
Resigns as MD
P Santhosh, Chief General Manager (CGM) of
Canara Bank, has been appointed (on deputation)
as Managing Director (MD) and Chief Executive
Officer (CEO) of National Asset Reconstruction of
India Limited (NARCL) with effect from 5th
January 2024.
✓ He succeeds Natarajan Sundar, MD &
CEO of NARCL (from 2022), who resigned
from the post.
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ACC Cleared Appointments of 7 Civil
Servants to Key Posts Abroad in Foreign
Missions
On 5 January 2024, the Appointments
Committee of the Cabinet (ACC) chaired by
Prime Minister (PM) Narendra Modi, cleared the
appointment of 7 civil servants to key posts
abroad to represent India in foreign missions and
captive posts within the Government of India (GoI)
across various multilateral bodies.
1.Vikas Sheel: Executive Director (ED) of the
Asian Development Bank (ADB) in Manila
(Philippines) for 3 years.
2.Senthil Pandian: Ambassador/Permanent
Representative (PR) at the Permanent Mission of
India (PMI) to the Geneva (Switzerland)-based
World Trade Organisation (WTO) for 3 years.
3.M Balaji: Deputy Chief of Mission at the
Embassy of India, Brussels (Belgium) for 3 years.
4.Parveen Kumar: Adviser to the ED of the
International Monetary Fund (IMF), Washington
DC, the United States of America (USA).
5.Smita Sarangi: Adviser to the ED of the ADB,
Manila for 3 years.
6.Kalyan Revella: Counsellor (Economic) at the
Embassy of India in Beijing, China for 3 years.
7.Tanu Singh: First Secretary of the PMI to the
WTO (Geneva) for 3 years.
Ravindra Kumar Tyagi Took Charge as CMD
of Power Grid Corporation of India Limited
Ravindra Kumar Tyagi
assumed charge as Chairman
and Managing Director (CMD)
of Power Grid Corporation of
India Limited (POWERGRID)
with effect from 1 January
2024. Before this, he was serving as Director
(Operations) of POWERGRID.
✓ He succeeded Kandikuppa Sreekant, who
was superannuated on 31 December
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2023. He has been the CMD of
POWERGRID since August 2019.
Sanjiv Aggarwal Appointed as MD & CEO of
NIIFL
Sanjiv Aggarwal, Partner
(Energy Infrastructure), Actis,
was appointed as the
Managing Director (MD) &
Chief Executive officer (CEO)
of National Investment and
Infrastructure Fund Limited (NIIFL), with effect
from February 2024. He will succeed Rajiv Dhar,
ACQUISITIONS & MERGERS
Tata Power acquires 100% stake in Bikaner
Special Purpose Vehicle
Tata Power has acquired a 100% equity stake in
Bikaner III Neemrana II Transmission Limited, a
special purpose vehicle (SPV), for Rs 18.6 crore.
SPV was set up by PFC Consulting Limited which
is a subsidiary of Power Finance Corporation.
CCI Approves 100% Acquisition of GVK
Power (Goindwal Sahib) Ltd by PSPCL
The Competition Commission of India (CCI) has
approved the proposed acquisition of 100%
SCIENCE & TECHNOLOGY
USSF-52 Mission: SpaceX launches
secretive U.S. military spacecraft on
research mission
On 28th December 2023, SpaceX’s Falcon Heavy
rocket carrying US military’s secretive X-37-B
military space plane to the orbit was launched
from Launch Complex 39A (LC-39A) at Kennedy
Space Center in Florida, the United States of
America(USA).
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who has been serving as interim MD and CEO of
NIIFL since May 2023.
Note: NIIF is a collaborative investment platform
for international and Indian investors, anchored by
the Government of India(GoI).
SEBI Appoints G Ram Mohan Rao as
Executive Director for 3 years
The Securities and Exchange Board of India
(SEBI), has appointed Govindayapalli Ram
Mohan Rao as Executive Director (ED) of SEBI for
a period of three years.
shareholding of GVK Power (Goindwal Sahib)
Limited by Punjab State Power Corporation Ltd
(PSPCL). Punjab has become the first state
government to purchase a private thermal plant.
ICICI Venture to Sell its Entire 42% Stake in
Theobroma Food Ltd
Mumbai (Maharashtra) based ICICI Venture Funds
Management Company Limited has decided to
sell its entire 42% paid-up share capital in
Mumbai-based Theobroma Food Private Limited
for Rs 1,200 crore.
✓ The mission codenamed “USSF-52” is the
7th mission of X-37B. This mission
includes multiple cutting-edge
experiments. This is the first time the X-
37B is launched using a Falcon Heavy
rocket.
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ISRO launches PSLV-C58/XPoSat: India’s
1st X-ray Polarimeter Satellite to study
Black Holes & Neutron Stars in Space
Indian Space Research Organisation (ISRO)
launched XPoSat (X-ray Polarimeter Satellite),
India’s 1st dedicated polarimetry mission
onboard the Polar Satellite Launch Vehicle
(PSLV)-C58 from Satish Dhawan Space Centre in
Sriharikota, Andhra Pradesh (AP). PSLV-C58 has
launched XPOSAT Satellite into an Eastward low
inclination orbit.
✓ It was PSLV-C58’s 60th mission and lifted
a mass of 260 ton. It should be noted that
this launch was by PSLV-DL variant. It was
PSLV-DL’s 4th mission.
✓ The satellite is expected to operate for at
least 5 years.
SpaceX launches its first ‘direct-to-cell’
Starlink satellites
SpaceX’s Falcon 9 launched the 21 Starlink
satellites, including its first six "direct-to-cell"
satellites, to Low-Earth orbit(LEO) from Space
Launch Complex 4 East (SLC-4E) at Vandenberg
Space Force Base in California, the United States
of America(USA).
✓ Direct to cell satellites aims to provide
seamless global access to text, call, and
browse across all-terrain and location
coverage without changing hardware or
firmware.
ISRO’s NSIL to launch GSAT-N2 Satellite
onboard SpaceX’s Falcon-9
NewSpace India Limited (NSIL), the commercial
arm of the Indian Space Research Organisation
(ISRO), is set to launch GSAT-20 (renamed GSAT-
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N2), a Ka-band high throughput satellite (HTS),
onboard the Falcon-9 rocket of Space Exploration
Technologies Corporation (SpaceX) in the 2nd
quarter of 2024. This will be ISRO’s first
partnership with SpaceX to launch the satellites.
GlobalSpace Technologies
launches ‘GoRoga’, India’s 1st Anti-Stress
Wearable
Navi Mumbai (Maharashtra) based GlobalSpace
Technologies Limited has unveiled ‘GoRoga’
India’s first anti-stress wearable. The device uses
non-invasive brain stimulation (NIBS) technology
to reduce anxiety and promote mental wellness.
The device is manufactured and patented as
RogaLife in the United States of America (USA)
and the software is developed in India under the
‘Make in India’ initiative.
ISRO Successfully Injected Aditya L1 into
the Halo Orbit Around L1
On 6th January 2024, the Indian Space Research
Organisation (ISRO) successfully performed the
crucial manoeuvre (final manoeuvre) of injecting
the Aditya-L1 spacecraft, India’s first space-
based observatory-class solar probe to study the
Sun, into the halo orbit around Lagrangian point 1
(L1).
✓ Aditya L1 has travelled around 3.7 million
kilometers in 126 days to reach L1.
✓ This marks the transition of Aditya L1
mission from cruise phase to orbit phase.
✓ After a flight duration of 63 minutes and 20
seconds, Aditya L1 was successfully
injected into an elliptical orbit of
235x19500 km around the Earth.
Copyright 2014-2024 @ AffairsCloud.com 18
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ENVIRONMENT

Polygonum Chaturbhujanum: New
Herbaceous Plant Species Discovered in
Maharashtra’s Pench Tiger Reserve
A New Herbaceous Plant Species named
“Polygonum Chaturbhujanum” was discovered
at Gol Pahadi Island of the Pench Tiger Reserve
(PTR) in Nagpur Maharashtra. The new species
was discovered during the floral survey carried
out in Pench with technical support of the Forest
Survey of India(FSI).

SPORTS

FIDE World Rapid Chess Championship 3 Lei Tingjie China Bronze Medal
2023: Magnus Carlsen Wins 5th title,
Koneru Humpy wins Silver 2023 World Blitz Chess Championships:
Norwegian Grandmaster (GM) and World No.1, Norway’s Magnus Carlsen won his 7th title
Magnus Carlsen won 2023 International Chess & Russia’s Valentina Gunina won her 2nd
Federation (FIDE) World Rapid Chess title (Men) title
held at Samarkand, Uzbekistan from 26 December Norwegian Grandmaster and World Chess
to 28 December 2023. This title marks Magnus Champion Magnus Carlsen won the title at the
Carlsen’s 5th World Rapid Chess Championship 2023 World Blitz Chess Championships (open
title. tournament) held at the Samarkand Congress
✓ Russian chess player Anastasia Bodnaruk Center, Samarkand, Uzbekistan from 29th to 30th
(neutral Fide flag) won the 2023 FIDE December 2023.
World Rapid Chess Women’s title by ✓ Daniil Dubov, and Russia’s
defeating Indian Chess Grandmaster, Vladislav Artemiev finished 2nd and 3rd in
Koneru Humpy in a tiebreaker match to the Open Blitz tournament.
secure first place. ✓ Russia’s Valentina Gunina won the title in
Top 3 Men Medalist the Women’s Blitz tournament. The
Name of the former World Champion Alexandra
Rank Country Medal
Player Kosteniuk of Switzerland finished 2nd, and
Gold China's Zhu Jiner finished 3rd third.
1 Magnus Carlsen Norway Medal and
Trophy
Vladimir Siver ICC Modifies Stumping Rule and
2 Slovenia Concussion Substitute Rule
Fedoseev Medal
Bronze The International Cricket Council (ICC) has made
3 Yu Yangyi China
Medal changes to the stumping rule by stating that while
Top 3 Women Medalist checking for a stumping appeal, the TV umpire
Name of the (referred as 3rd Umpire) will only assess the
Rank Country Medal
Player images from the side-on camera (to show only
Russia stumping done by the wicketkeeper) and will not
Anastasia Gold Medal
1 (FIDE assess the caught-behind scenario.
Bodnaruk and Trophy
flag)
2 Koneru Humpy India Silver Medal

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 Weekly Content PDF
✓ The new changes to the Stumping rule
came into effect on 12th December 2023.
OBITUARY
Former Indian Football Defender
Prabir Majumdar passed away
Former Indian footballer (defender)
Prabir Majumdar, 77, passed away in Kolkata,
West Bengal (WB). He played a significant role in
the 1974 Asian Games (Tehran, Iran) as a member
of the Indian team.
BOOKS & AUTHORS
Kerala Governor Launched the Book named
"Ram Mandir Rashtra Mandir Ek Sajhi
Virast"
Kerala Governor Arif Muhammed Khan launched a
book titled "Ram Mandir Rashtra Mandir Ak Sajhi
Virast"(Meaning: Ram Mandir, Rashtra Mandir – A
Common Heritage) jointly written by Geeta Singh
and Arif Khan Bharti.
TN Chief Minister MK Stalin Released a
Book Titled ‘Maha Kavithai’ by Poet
Vairamuthu
Tamil Nadu Chief Minister MK Stalin released a
Tamil book titled ‘Maha Kavithai’(means ‘Great
Poem’) written by poet Vairamuthu at the event
held in Chennai(Tamil Nadu) on 1st January 2024.
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Indian American Academic and Padma
Bhushan Awardee Professor Ved Prakash
Nanda Passed Away
Padma Bhushan Awardee Professor Ved Prakash
Nanda, an Indian American academic and a expert
on international law, passed away in Denver,
Colorado, the United States of America(USA). He
was born on 20th November 1934 in Gujranwala,
Punjab, British India (now in Pakistan).
Note: Prof Ved Prakash Nanda was honoured with
Padma Bhushan (literature and education) in
2018.
General VK Singh releases book 'Sanskriti
ke Ayaam' written by Manorama Mishra
General V.K. Singh (Retd.), Union Ministers of
State (MoS), Ministry of Road Transport and
Highways (MoRTH) and Ministry of Civil Aviation
(MoCA) released the book 'Sanskriti ke Ayaam'
authored by Manorama Mishra.
✓ The book, authored in Hindi language, is
published by the National Book Trust,
India functioning under the Ministry of
Education (MoE).
Four Stars of Destiny: The Autobiography of
Ex-Indian Army Chief M.M. Naravane
General Manoj Mukund Naravane (MM Naravane),
former Chief of Army Staff(CoAS) has penned his
autobiography titled “Four Stars of Destiny: An
Autobiography”. The book is set to be published
in January 2024 by Penguin Veer, an imprint of
Penguin Random House India.
Copyright 2014-2024 @ AffairsCloud.com 20
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 Weekly Content PDF
IMPORTANT DAYS
World Braille Day 2024 - January 4
The United Nations (UN) World Braille Day is
annually observed across the globe on 4 January
to raise awareness about the significance of
Braille as a communication medium for people
who are blind or partially sighted.
✓ The Day commemorates the birth
anniversary of Louis Braille, a 19th-
century French educator, who invented the
Braille script for the blind and visually
impaired in 1824
✓ 4 January 2024 marks the observance of
the 6th World Braille Day and the 215th
birth anniversary of Louis Braille.
STATE NEWS
Punjab CM Bhagwant Singh Mann launched
website to support NRIs
Bhagwant Singh Mann, Chief Minister(CM) of
Punjab, launched Non-Resident Indians (NRI)
Punjab website(nri.punjab.gov.in), under the
Department of NRI Affairs to provide support and
assistance to NRIs. The website was developed by
the Department of Governance Reforms & Public
Grievances (DGRPG), Government of Punjab in
collaboration with National Informatics Centre
(NIC), under Ministry of Electronics and
Information Technology (MeitY).
Cultural Exchange and Tourism
Collaboration Launched Between Vietnam's
Lam Dong and India's Leh Ladakh
Lam Dong Province in Vietnam and the Leh region
of Ladakh, India officially launched a cultural
exchange and tourism cooperation initiative with
the theme “Ladakh Unveiled” in Da Lat, Vietnam.
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World Day of War Orphans 2024- January 6
World Day of War Orphans is annually observed
across the globe on 6 January to raise awareness
about the challenges faced by children who have
been left orphaned by wars and about the trauma
experienced by war orphans globally.
Note: As of November 2023, Sudan has become
the largest child displacement crisis globally,
witnessing 3 million children escaping widespread
violence in pursuit of basic needs.
Kerala CM Pinarayi Vijayan launches K-
SMART App to Offer Digital Access to Local
Govt Services
Pinarayi Vijayan, Chief Minister (CM) of Kerala,
launched the K-SMART (Kerala Solutions for
Managing Administrative Reformation and
Transformation) software/mobile application, in
an event held in Kochi, Kerala.
✓ K-SMART is a unified platform to provide
digital access to the services provided by
the local self-government bodies across
Kerala. The app was developed by the
Information Kerala Mission (IKM), an
autonomous body under the Local Self-
Government Department(LSGD),
Government of Kerala.
Durga Shanker Mishra Re-appointed as
Chief Secretary of Uttar Pradesh
Durga Shanker Mishra was re-appointed as the
Chief Secretary (CS) of Uttar Pradesh (UP) for the
third term, from 1st January to 30th June 2024.
Copyright 2014-2024 @ AffairsCloud.com 22
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Sudhansh Pant Appointed as Chief Secretary of
Rajasthan
Sudhansh Pant, a 1991 batch IAS officer, was
appointed chief secretary of Rajasthan. He
succeeded Usha Sharma, who retired on 31st
December 2023.
J&K DGP launches Grievance Redressal
Portal 'Awaam Se, Awaam Ke Liye'
The Director General of Police (DGP) of Jammu &
Kashmir (J&K), R R Swain, has launched the J&K
Police Grievance Redressal Portal ‘Awaam Se,
Awaam Ke Liye’.
✓ The portal aims to address the issues
faced by the citizens and police personnel
in a more structured and decentralised
manner.
WB Govt Declared Poila Baisakh as State
Day & Tagore's Banglar Mati Banglar Jal as
State Song
The Government of West Bengal(WB) declared
Poila Baisakh, the Bengali New Year, as the State
day and Nobel laureate Rabindranath Tagore's
1905 ode to Bengal, "Banglar Mati, Banglar Jal"
(The soil of Bengal, the water of Bengal) as the
State Song.
✓ Poila Baisakh is celebrated on the first day
of the Baisakh month, the first month of
the Bengali calendar year which
usually falls on the 14th or 15th of April.
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PFC signs MoU with Gujarat Govt for Power
Projects Worth Rs 25,000 Cr
The Power Finance Corporation Limited (PFC) has
signed a Memorandum of Understanding (MoU)
worth Rs 25,000 crore with the Government of
Gujarat (GoG) in Gandhinagar to provide financial
backing for power generation, transmission, and
distribution projects.
Assam Celebrates 14th Chandubi Festival -
1 to 5 January 2024
The Chandubi festival is an annual 5 day festival
held from the first day of the New Year along the
Chandubi lake(64 km away from Guwahati city),
Assam. The 14th edition of Chandubi
Festival was held from 1st to 5th january 2024.
This festival celebrates the cultural heritage of
Assam's tribal communities such as Rabhas,
Garos, Gorkhas, etc that live near the Chandubi
Lake.
Himachal CM Sukhu Launches Two Portals
for Efficient Governance
Himachal Pradesh Chief Minister(CM) Sukhvinder
Singh Sukhu launched India’s first ever Report
Management Portal (RMP) and Meeting
Management Portal (MMP) for efficient
governance.
✓ The portals were developed by the
Department of Digital Technology and
Governance (DDTG) of the Himachal
Pradesh government.
Copyright 2014-2024 @ AffairsCloud.com 23
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