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Daily Current Affairs 3rd February 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 3rd February2024. It includes all Major National, International, Business and Sports related current affairs of 3rd February2024. 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 3rd February2024 Current affairs test.

 

International News

1. Expansion of India’s Digital Payment System Internationally

  • The introduction of India’s Unified Payments Interface (UPI) at the Eiffel Tower in Paris marks a major step forward in the global acceptance and adoption of India’s digital payment system. This initiative is a result of a collaboration between NPCI International Payments and the French company Lyra, making France the first European country to adopt this technology. It highlights the global recognition of UPI’s efficiency and security.

 

State News

2. Urban Development Initiative in Uttar Pradesh

  • The Uttar Pradesh government has initiated the establishment of a Centralized GIS Data Centre in Ayodhya, aiming to transform urban planning and development in the region. This project, spearheaded by the Ayodhya Development Authority, will employ Geographic Information System (GIS) technology to enhance the planning, execution, and management of more than 141 development projects. It demonstrates the state’s commitment to using advanced technology for precise and efficient project implementation.

3. Innovation in Policing with Self-Balancing E-Scooters in Uttarakhand

  • The Uttarakhand Police has introduced self-balancing electric scooters for patrolling in Haridwar, showcasing an innovative approach to modernizing law enforcement and patrol methods. Donated by Utkarsh Small Finance Bank, these scooters are aimed at improving mobility and efficiency in crowded and narrow spaces, while promoting eco-friendly practices. This reflects the police department’s dedication to embracing new technologies for public safety and environmental sustainability.

4. Sports Achievement – Karnataka Wins Nagesh Trophy

  • Karnataka’s victory over Andhra Pradesh in the Nagesh Trophy T20 cricket tournament for the blind demonstrates the exceptional talent and spirit of visually impaired athletes. This win marks a significant achievement in promoting inclusivity and competitiveness in sports, highlighting the abilities of visually impaired athletes and ending Karnataka’s lengthy wait for a national title in this category.

 

Defence News

5. India-US Defense Cooperation with MQ-9B Drone Deal

  • The acquisition of MQ-9B armed drones from the United States significantly boosts India’s defense capabilities, especially in intelligence, surveillance, and reconnaissance (ISR) operations. This purchase underscores the strengthening of defense relations between India and the US, reflecting a shared commitment to security cooperation and technological advancement in military capabilities.

6. Operational Preparedness with IAF’s Exercise Vayu Shakti-2024

  • The Indian Air Force’s upcoming Exercise Vayu Shakti-2024 at the Pokhran Range is a key event to demonstrate its aerial firepower and operational readiness. This biennial exercise is essential for assessing the IAF’s capability in various scenarios, emphasizing the importance of maintaining a high level of preparedness and showcasing India’s aerial defense prowess.

 

Economy News

7. Effective Currency Management by RBI

  • The Reserve Bank of India’s announcement that 97.50% of Rs 2,000 currency notes have been returned to the banking system since their introduction in 2016 highlights the effectiveness of India’s currency management strategies. This indicates the successful reintegration of these high-denomination notes into the banking system, reflecting public compliance with monetary policies aimed at regulating currency circulation.

8. Government’s Response to Rising Food Prices

  • In response to rising rice prices, the Indian government has introduced ‘Bharat’ brand rice at a subsidized rate. This initiative aims to make essential food grains more accessible and affordable to the general public, particularly through cooperative distribution channels. It represents a direct intervention to ensure food security and mitigate the impact of inflation on essential commodities.

9. Record-Breaking Digital Transactions via UPI

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  • The National Payments Corporation of India’s report of a record ₹18.41 trillion in UPI transactions for January signifies a major shift towards digital payments among Indian consumers. This reflects a growing preference for digital over traditional payment methods, underscoring the efficiency, convenience, and security provided by UPI transactions.

 

Banking News

10. Bancassurance Partnership for Financial Inclusion

  • The partnership between ESAF Bank and Edelweiss Tokio Life Insurance aims to deliver comprehensive life insurance solutions to the unbanked and underbanked populations in India’s rural areas. This bancassurance partnership is a strategic move to improve access to financial security and services, targeting those most in need of financial inclusion and protection.

 

Business News

11. Strategy to Manage Gold Demand

  • The Indian government’s decision to increase the issuanceof Sovereign Gold Bonds for the fiscal year 2024-25 is aimed at diverting investment from physical to financial gold. This strategy seeks to more effectively manage gold demand, stabilize its price, and offer a safer and more profitable investment option, thus reducing the economic and environmental impacts of physical gold mining and trading.

 

Important Days News

12. Observance of World Cancer Day & International Day of Human Fraternity

  • The recognition of World Cancer Day and the International Day of Human Fraternity highlights the global commitment to combating cancer and promoting unity, compassion, and understanding across cultures. These observances emphasize the importance of collaborative efforts in addressing major world challenges, fostering peace, and building solidarity worldwide.

 

Schemes News

13. Enhanced Child Protection with GHAR Portal

  • The Ministry of Women and Child Development’s launch of the GHAR portal, complementing the Track Child Portal, aims to improve the tracking, restoration, and repatriation of missing children. This initiative boosts the effectiveness of child protection services in India, reflecting the government’s commitment to safeguarding children’s rights and well-being.

 

 Summits & Conferences News

14. Modernizing Legal Education and Practice

  • Prime Minister Narendra Modi’s inauguration of the CLEA-CASGC 2024 Conference addresses the need for modernizing legal education and practices to ensure justice is accessible and relevant in today’s global context. The conference focuses on addressing cross-border legal challenges, underscoring the importance of adapting legal systems to contemporary needs and fostering international legal cooperation.

 

Appointments News

15. Financial Management and Policy-Making Enhancement

  • The appointment of Shri Pawan Kumar as Chief Adviser (Cost) in the Ministry of Finance is expected to significantly enhance the financial management and policymaking processes within the government. His extensive experience in various government sectors positions him as a key figure in shaping financial strategies and ensuring efficient resource allocation.

 

Awards News

16. Recognition of Contributions through Awards

  • The awards to LK Advani with the Bharat Ratna and Nikhil Wagh receiving the Maha Gaurav 2024 Award celebrate their significant contributions to their respective fields. These awards recognize the impactful achievements and dedication of individuals, celebrating their roles in shaping Indian society and contributing to national and international discourse.

 

Sports News

17. Olympic Spirit Embodied by Abhinav Bindra

  • Abhinav Bindra’s selection as a torchbearer for the 2024 Paris Olympics symbolizes the Olympic spirit of excellence, unity, and sportsmanship. His legacy in Indian sports and the global Olympic community is highlighted through this honor, reflecting the values of dedication, achievement, and global camaraderie in sports.

 

Science & Technology News

18. Advancements in Genetic Research at BHU

  • The establishment of the Human DNA Bank and the upcoming Wildlife DNA Bank at Banaras Hindu University under the Make in India initiative mark significant advancements in genetic research and conservation. These efforts showcase India’s commitment to leveraging innovative technology for scientific research, contributing to global efforts in genetic conservation and understanding.
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