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Daily GK One Liners: January 4, 2025

Stay updated with today’s top headlines across International, National, Business, Banking, and more. 🌟


International News 🌍

  • Mike Johnson Re-Elected as U.S. House Speaker: Johnson, backed by President-elect Trump, retains his position amidst GOP divisions, marking a pivotal moment for U.S. legislative priorities.

National News 🇮🇳

  • India’s First Glass Bridge Inaugurated in Kanniyakumari: Tamil Nadu CM MK Stalin unveils the ₹37-crore project connecting Vivekananda Rock Memorial and the Thiruvalluvar Statue.
  • EPFO Rolls Out Centralized Pension Payment System (CPPS): The system benefits 68 lakh pensioners by enabling access to pensions from any bank branch.
  • Chhattisgarh Adopts Green GDP Model: First Indian state to include ecological contributions like biodiversity and clean air in economic metrics.
  • Assam Reports Increase in Elephant Population: Elephant numbers rise to 5,828, highlighting stability despite habitat challenges and human-wildlife conflicts.

Business News 📈

  • Committee Formed to Revise WPI Base Year: An 18-member team set to update the Wholesale Price Index base year to 2022-23, reflecting current economic realities.
  • India Updates GDP Base Year to 2022-23: Change aims to incorporate structural shifts in the economy over the last decade.
  • Nomura Lowers India’s FY25 GDP Growth Forecast to 6.7%: Adjustment reflects slower-than-expected April-June quarter growth.

Schemes News 📜

  • Telangana Expands Rythu Bharosa Scheme: Financial aid of ₹7,500 per acre extended to approximately 70 lakh farmers each crop season.

Banking News 💰

  • BharatPe to Sell Stake in Unity Small Finance Bank: Plans to offload up to 25% of its stake, raising ₹6,500 crore, to meet RBI compliance norms.
  • RBI Approves National and Cosmos Co-operative Bank Merger: Effective January 6, 2025, the move consolidates the banking sector under Cosmos Co-operative Bank.
  • SBI Launches ‘Har Ghar Lakhpati’ and ‘SBI Patrons’ Schemes: A recurring deposit plan aims to help customers accumulate ₹1 lakh or more, while promoting financial literacy.

Appointments News 🏢

  • Faiz Ahmed Kidwai Appointed DGCA Director General: Senior IAS officer takes charge to address critical aviation challenges, including pilot duty norms.

Important Days 📅

  • World Braille Day Celebrated on January 4: Honors Louis Braille and emphasizes inclusivity and accessibility for visually impaired individuals.

📚 Daily Current Affairs January 4, 2025 Explore the full article and stay updated.

🎯 Ready to challenge yourself? Take the Daily GK Quiz for January 4, 2025 here.


Quick Summary: BharatPe to Sell Stake in Unity Small Finance Bank 🏦

  • Stake Sale Plans: BharatPe plans to sell up to 25% of its 49% stake in Unity Small Finance Bank, targeting approximately $800 million (Rs 6,500 crore) in funds.
  • Reason for Sale:
    • Compliance with RBI’s mandate to reduce its stake to 10% by 2029.
    • Strategic move to raise capital for growth and innovation.
  • Consultant: The transaction will be managed by Rothschild & Co.

Unity Small Finance Bank

  • Background: Established in November 2021 as a joint venture between Centrum Financial Services and BharatPe.
  • Achievements: Acquired the struggling PMC Bank.
  • Performance:
    • Q2 FY24 net profit: Rs 187 crore (up from Rs 138 crore in Q2 FY23).
    • Total income growth: 77%, reaching Rs 640 crore.
  • Business Model: Operates a digital-first banking approach serving individuals and small businesses.

BharatPe’s Vision

  • Company Overview: Founded in 2018, backed by Tiger Global, Peak 15 Partners, Dragoneer, and Insight Partners.
  • Strategic Use of Funds:
    • Strengthen financial services.
    • Launch innovative, tech-driven products.
    • Expand its offerings to maintain a competitive edge.

Summary Table

AspectDetails
Why in the News?BharatPe’s plan to sell a 25% stake in Unity Bank.
Estimated Funds$800 million (Rs 6,500 crore).
Reason for SaleRBI compliance and capital for growth.
Key AchievementUnity Bank’s acquisition of PMC Bank.
Q2 FY24 ProfitRs 187 crore.
Growth in Income77%, reaching Rs 640 crore.
InvestorsTiger Global, Peak 15 Partners, Dragoneer, Insight Partners.

Why Read the Full Article?

  • Understand BharatPe’s Strategy: Learn how this stake sale supports compliance and business growth.
  • Explore Unity Bank’s Role: See how Unity Bank’s performance aligns with BharatPe’s broader goals.
  • Gain Fintech Insights: Discover how BharatPe plans to innovate and expand in India’s fintech ecosystem.

🌐 Click here to explore the full article and understand BharatPe’s pivotal move in the evolving financial landscape.


Quick Summary: Sai Paranjpye Honored with Padmapani Lifetime Achievement Award 🏆

  • Award and Event: Sai Paranjpye, celebrated filmmaker and writer, will receive the Padmapani Lifetime Achievement Award at the 10th Ajanta-Ellora International Film Festival (AIFF) in Chhatrapati Sambhajinagar on January 15, 2025.
  • Significance of the Award:
    • Recognizes her outstanding contributions to Indian cinema and Marathi literature.
    • Includes a Padmapani memento, a letter of recognition, and a monetary prize of Rs 2 lakh.
  • Career Highlights:
    • Directed iconic films such as Sparsh, Chashme Buddoor, and Katha, central to India’s parallel cinema movement.
    • Recipient of four National Film Awards.
    • Served as Chairperson of the Children’s Film Society of India (CFSI) twice.
    • Honored with the Padma Bhushan in 2006.

About the Award and Festival

  • Selection Committee: Chaired by Latika Padgaonkar, with members like Ashutosh Gowariker and Sunil Sukthankar.
  • Event Venue: Rukmini Auditorium at MGM University, hosting the festival from January 15 to 19, 2025.

Why This Matters

  • Cinematic Legacy: Paranjpye’s contributions to socially conscious storytelling and Marathi literature have left an enduring mark.
  • Inspiration for Artists: The recognition of her work at AIFF highlights the importance of authentic, impactful narratives in art and cinema.
  • Cultural Celebration: The award reinforces AIFF’s mission to honor excellence in the arts and inspire future creators.

🌐 Click here to explore the full article and celebrate the legacy of Sai Paranjpye, a pioneer of Indian cinema and literature.

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