Daily Current Affairs 4th February 2024: Your guide for daily General Knowledge Preparation
Dear Readers,
This post contains important current affairs of 4th February2024. It includes all Major National, International, Business and Sports related current affairs of 4th 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 4th February2024 Current affairs test.
FINANCE & BANKING
1. SBI Plans to Sell Half of Its ₹11,000 Crore Loan in Adani’s Ganga Expressway Endeavor
- A year after extending financial support to the Adani Group for the Ganga Expressway project, the State Bank of India (SBI) is strategizing to sell off 50% of its loan, which amounts to nearly ₹11,000 crore, to this project, the longest toll road in India.
- Engaging in Discussions with Financial Bodies: SBI is negotiating with several financial entities, including the National Bank for Financing Infrastructure and Development (NaBFID), Punjab National Bank (PNB), and various power finance corporations to offload half of its loan commitment.
- NaBFID’s Participation: With an aim to fund infrastructure, NaBFID shows keen interest in purchasing a share of SBI’s loan, planning to sanction loans up to ₹1 lakh crore by March 2024, having already distributed ₹21,000 crore.
- Downselling Strategy: This approach focuses on securing a sale by presenting a lower-priced alternative to customers, adhering to the principle that making a sale at a reduced price is preferable to losing a sale altogether.
2. Asian Development Bank Secures Rs 1,250 Crore Through Its Biggest Ever Green Bond Issuance in Local Currency
- By issuing its largest green bond in local currency, the Asian Development Bank (ADB) has amassed Rs 1,250 crore, equivalent to about USD 150 million.
- Bond Details: This 4-year bond, linked to the currency, promises a single repayment upon maturity with a fixed annual interest rate of 6.72%. While issued in Indian rupees, the bond’s settlement takes place in US dollars.
3. Indian Overseas Bank’s Market Valuation Hits Rs 1 Lakh Crore, Joining the Elite Group of PSU Banks
- The state-owned Indian Overseas Bank (IOB) has witnessed its market capitalization surpass Rs 1 lakh crore, marking a historic milestone achieved following a 100% increase in its share price over the past six months.
DOMESTIC NEWS
4. Prime Minister Modi Initiates Projects Worth Rs 68,000 Crore in Odisha
- Prime Minister Modi has launched and laid the foundation for various projects exceeding Rs 68,000 crore in value in Sambalpur, Odisha, aimed at bolstering the energy sector, including natural gas, coal, and power, alongside significant road, railway, and higher education projects. Modi also explored a model of IIM Sambalpur and a related photo exhibit.
5. Modi Announces Initiatives Valued at Rs 11,000 Cr in Assam
- In Guwahati, Assam, Prime Minister Modi has unveiled and initiated projects totaling Rs 11,000 crores, focusing on enhancing sports and medical facilities and improving connectivity.
6. UPI Makes Its Debut in France at the Iconic Eiffel Tower
- The Unified Payments Interface (UPI) system of India was officially introduced in France at the Eiffel Tower, marking a significant step in Prime Minister Narendra Modi’s global vision for UPI. Announced during the Republic Day reception in France, this launch is in line with the 2016-developed NPCI’s UPI system, facilitating instant payments through a virtual address. Modi’s visit in July 2023 to France included an announcement on the UPI payment mechanism, allowing Indian tourists to transact in rupees in France.
7. Indian Institute of Mass Communication Elevated to University Status
- The Ministry of Education, following UGC’s advice, has designated the Indian Institute of Mass Communication as a deemed university. This status applies to the main campus in New Delhi and its regional campuses, empowering IIMC to confer degrees, including doctoral ones.
8. CMFRI Partners to Pioneer Lab-Grown Fish Meat in India
- The Central Marine Fisheries Research Institute (CMFRI) in Kochi has partnered with Neat Meatt Biotech to innovate lab-grown fish meat, marking India’s first venture into cultivated seafood, focusing on species like pomfret and kingfish.
REGIONAL NEWS
9. Uttarakhand Police Deploy E-Scooters for Smarter Patrols</strong >
- The Uttarakhand Police, under DGP Abhinav Kumar, has introduced self-balancing electric scooters in Haridwar, aiming to improve safety for tourists and locals. The scooters, donated by Utkarsh Small Finance Bank, are designed for efficient patrol in narrow and crowded areas, emphasizing eco-friendly policing.
JUDICIAL AND ADMINISTRATIVE APPOINTMENTS
10. Justice P S Dinesh Kumar Assumes Role as Chief Justice of Karnataka High Court
- Following Justice P.B. Varale’s promotion to the Supreme Court, Justice P.S. Dinesh Kumar has been appointed as the Chief Justice of the Karnataka High Court, with his tenure concluding on February 24, 2024. His appointment comes as part of a series of judicial appointments and promotions within the Indian judiciary.
11. Pawan Kumar Appointed as Chief Adviser (Cost) in the Finance Ministry
- Pawan Kumar, a 1992 ICoAS officer, has been appointed as the Chief Adviser (Cost) at the Department of Expenditure, Ministry of Finance, bringing extensive experience across various government sectors to his new role.
INTERNATIONAL COOPERATION
12. Philippines and Vietnam Strengthen South China Sea Cooperation
- The Philippines and Vietnam have agreed to enhance cooperation in the South China Sea, including agreements on incident prevention and coast guard collaboration, amid shared concerns over China’s territorial claims.
SPORTS
13. Sports Ministry Suspends Paralympic Committee of India
- Due to delayed elections and guideline non-compliance, the Paralympic Committee of India has been suspended by the Sports Ministry, with upcoming elections scheduled for the end of February in Bengaluru.
COMMEMORATIONS
14. World Cancer Day and International Development Week Observed
- February 4th marked World Cancer Day, aimed at cancer awareness and reduction, while the first full week of February celebrated International Development Week, highlighting Canada’s contributions to global development.
15. Sri Lanka Celebrates National Day
- February 4th is observed as Sri Lanka’s National Day, commemorating its independence from British rule in 1948 and recognizing its historical journey and development as a sovereign nation.
