Daily Current Affairs 20th January 2024: Your guide for daily General Knowledge Preparation
Dear Readers,
This post contains important current affairs of 20th January2024. It includes all Major National, International, Business and Sports related current affairs of 20th January2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 20th January2024 Current affairs test.
CURRENT EVENTS: BANKING & FINANCE
1. RBI Implements Stricter Regulations for Housing Finance Companies
- The Reserve Bank of India is adopting a phased approach to introduce more stringent regulations for housing finance companies (HFCs), aiming to align them with the standards of non-banking financial companies (NBFCs).
- Key Points:
- Uniform Prudential Standards: The RBI’s new rules are aimed at placing HFCs that accept or manage public deposits under a regulatory framework similar to deposit-taking NBFCs, thereby standardizing prudential norms.
- Increased Liquid Asset Requirements: The proposed regulations require HFCs taking deposits to boost their liquid assets to 15% of public deposits by March 2025, up from the current 13%.
- Public Deposit Cap: Compliant HFCs with at least a minimum investment grade credit rating will see a reduction in the public deposit limit from three times to 1.5 times their net owned funds.
- Restrictions on Exceeding Deposit Limits: HFCs that surpass the new deposit threshold are barred from accepting new or renewing current public deposits until their level falls below the revised limit.
- Shorter Deposit Acceptance Period: The maximum period for which HFCs can accept deposits is now 60 months, down from 120 months, with existing deposits continuing until their original maturity.
- Asset Coverage and Credit Rating Requirements: HFCs accepting deposits are required to constantly maintain full asset coverage for these deposits and acquire a minimum investment grade credit rating annually.
- About NBFC Operations:
- NBFCs must establish a Constituent’s Subsidiary General Ledger (CSGL) account with a scheduled commercial bank, SHCIL, or a dematerialized account with a depository. They must keep their unencumbered approved securities in these accounts and choose a designated banker for holding physical unencumbered term deposits and non-dematerialized approved securities.
About RBI:
- Established: April 1, 1935
- Headquarters: Mumbai, Maharashtra, India
- Governor: Shaktikanta Das
2. LIC Outperforms SBI in Market Valuation
- The Life Insurance Corporation of India (LIC) has surpassed the State Bank of India (SBI) in market valuation, becoming the most valuable public sector undertaking in India.
- Key Highlights:
- Stock Performance: LIC’s shares experienced a 3% increase, reaching a 52-week high on the BSE but later declined slightly. In contrast, SBI’s shares saw a decrease.
- Market Capitalization: LIC’s market cap exceeded that of SBI, making it one of the top ten most valued firms in India.
- IPO and Government Stake: After its listing in May 2022, LIC’s shares were initially listed below the IPO price, with the government retaining a significant stake in the company.
About LIC:
- Founded: 1956
- Headquarters: Mumbai, Maharashtra
- Leadership: Siddharth Mohanty (Chairman) and others
CURRENT AFFAIRS: NATIONAL NEWS
3. Prime Minister Modi Inaugurates Boeing’s BIETC Campus in Bengaluru
- Prime Minister Narendra Modi recently opened Boeing’s new BIETC campus in Bengaluru, which is the company’s largest investment outside the USA.
- During the inauguration, the Prime Minister launched the Boeing Sukanya Program, aimed at fostering participation of Indian girls in the aviation sector.
- The BIETC campus plans to partner with India’s startups, private sector, and government entities to develop products and services for the aerospace and defense industries.
4. Prime Minister Launches AMRUT Projects in Maharashtra
- Prime Minister Narendra Modi initiated eight projects under the AMRUT scheme in Solapur, Maharashtra, with an approximate value of Rs.2,000 crores.
- He also dedicated a significant number of PMAY-Urban houses in Maharashtra and distributed financial benefits to PM-SVANIDHI beneficiaries in the state.
CURRENT AFFAIRS: INTERNATIONAL NEWS
5. Japan Secures U.S. Tomahawk Missiles Amid Security Concerns
- Japan has entered an agreement with the United States to procure 400 long-range Tomahawk missiles, enhancing its defense capabilities against regional threats.
- This acquisition is part of Japan’s broader plan to increase its defense spending in response to security challenges posed by neighboring countries.
- Despite Japan’s pacifist constitution, its security and defense strategies have been updated to address the emerging challenges in the region.
About Japan:
- Capital: Tokyo
- Currency: Yen
- Leadership: Fumio Kishida (Prime Minister)
About USA:
- Capital: Washington, D.C.
- Currency: Dollar
- President: Joe Biden
CURRENT AFFAIRS: STATE NEWS
6. Unveiling of Dr. B. R. Ambedkar’s Statue in Vijayawada
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy recently unveiled a towering 125-foot statue of Dr. B. R. Ambedkar in Vijayawada. The entire structure, including the pedestal, stands at 206 feet.
- The project, valued at Rs 404 crore, encompasses various facilities like an experience center, convention center, and recreational areas.
About Andhra Pradesh:
- Governor: Abdul Nazeer
- Chief Minister: YS Jagan Mohan Reddy
- Capital: Amaravati
7. Inauguration of the 47th Kolkata International Book Fair
- West Bengal’s Chief Minister Mamata Banerjee inaugurated the 47th edition of the Kolkata International Book Fair, with the UK as the theme country, reflecting the long historical ties between India and the UK.
- Banerjee, an accomplished author, announced her intention to further her literary contributions in the coming year.
About West Bengal:
- Governor: V. Ananda Bose
- Chief Minister: Mamata Banerjee
- Capital: Kolkata
8. Revival of Traditional Buffalo Fight ‘Moh-Juj’ in Assam
- The Assam Government, under the leadership of Chief Minister Himanta Biswa Sarma, has reinstated the traditional buffalo fight ‘Moh-Juj’ in Nagaon district, reviving a cultural event after a nine-year hiatus.
- This event, akin to Jallikattu and bullock cart races, is being reintroduced with strict Standard Operating Procedures to address concerns about animal welfare.
About Assam:
- Governor: Gulab Chand Kataria
- Chief Minister: Himanta Biswa Sarma
- Capital: Dispur
CURRENT AFFAIRS: AWARDS AND HONOURS
11. REC Limited Awarded SCOPE Excellence Award
- REC Limited, under the Ministry of Power, has been recognized with the SCOPE Excellence Award in the Special Institutional Category for its efforts in digitalization and establishing a paperless work environment.
- The award was conferred by the Vice President of India, Shri Jagdeep Dhankhar.
About SCOPE:
- Founded in 1973, SCOPE is the apex body of Public Sector Enterprises, working towards promoting excellence and competitiveness.
About REC Limited:
- Category: ‘Maharatna’ CPSE under the Ministry of Power
- Function: Leading NBFC and Infrastructure Financing Company in the power sector
CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS
12. Hrithik Roshan as Brand Ambassador for RuPay Prime Volleyball League
- Bollywood star Hrithik Roshan has been appointed as the brand ambassador for the 3rd season of the RuPay Prime Volleyball League, which is set to begin on February 15, 2024.
- The league is co-owned by Baseline Ventures and will be broadcasted on the Sony Sports Network.
CURRENT AFFAIRS: DEFENCE NEWS
13. Projection for India’s Domestic Air Passenger Traffic
- According to the Civil Aviation Minister, India’s domestic air passenger traffic is anticipated to reach 300 million by 2030, marking significant growth yet remaining one of the least penetrated markets globally.
- India, currently the third-largest domestic and seventh-largest international civil aviation market, is expected to see a substantial increase in its fleet size in the coming decade.
CURRENT AFFAIRS: ACQUISITIONS & MERGERS
14. Airbus and Tata’s Joint Venture in Gurugram
- Airbus has joined hands with Tata’s Air India to set up a pilot training center in Gurugram, Haryana, as part of the ‘Skill India’ initiative.
- The center, aiming to train 5,000 pilots over 10 years, will feature state-of-the-art facilities including A320 and A350 flight simulators.
- Airbus is also collaborating with GMR Aero Technic for providing Aircraft Maintenance Engineering training.
CURRENT AFFAIRS: SCIENCE & TECHNOLOGY
15. ISRO’s Ambitious Plans for Space Exploration
- ISRO is gearing up for the initial tests of the Bharatiya Space Station next year and aims to launch its first module by 2028.
- Additionally, a mission to Venus is being planned for 2028, aligning with Prime Minister Narendra Modi’s vision for India’s space endeavors.
About ISRO:
- Headquarters: Bengaluru
- Founded: August 15, 1969
- Founder: Vikram Sarabhai
- Chairperson: S Somanath
16. Japan’s Lunar Exploration Efforts with SLIM
- Japan is preparing for a lunar mission with the Smart Lander for Investigating Moon (SLIM), aiming for a soft landing on the moon’s surface.
- This mission signifies Japan’s determination to strengthen its position in lunar exploration despite past challenges.
17. Japan’s Space Exploration Challenges and Strategic Goals
- Japan faces competition from China in space exploration and is committed to overcoming its past setbacks to strengthen its space-based capabilities.
- The upcoming lunar mission will be a significant step in Japan’s efforts to establish a presence in the evolving “moon economy.”
18. Japan’s Focus on Lunar Exploration and Security in Space
- Japan’s lunar mission and strategic space initiatives are part of a broader effort to enhance its security presence in space, including deploying spy satellites.
- This focus is essential for Japan to maintain a competitive edge in space technology and exploration in the region.
