Daily Current Affairs January 21

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs January 21. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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January 21 | Daily Current Affairs 2024

Important Days – Daily Current Affairs January 21

1. When did Manipur, Meghalaya, and Tripura attain full statehood?
A) January 21, 1947
B) November 15, 1949
C) January 21, 1972
D) April 2, 1970
E) September 15, 1971
Answer: C) January 21, 1972

Event and Location:

• Event: Statehood Day Celebrations of Manipur, Meghalaya, and Tripura
• Date: January 21, 2025 (Celebrating statehood attained on January 21, 1972)
• Location: Northeastern India

Mandates and Objectives:

• Commemorate the attainment of full statehood under the North Eastern Region (Reorganization) Act of 1971.
• Celebrate the cultural heritage, history, and contributions of these states to India’s national identity.

Formation of the States:

1. Manipur:
   • Known as the “Jewel of India,” it was an independent kingdom before merging with India in 1949.
   • Attained full statehood on January 21, 1972.
2. Meghalaya:
   • Called the “Abode of Clouds,” it was an autonomous state within Assam from April 2, 1970.
   • Achieved full statehood on January 21, 1972, preserving its cultural and linguistic identity.
3. Tripura:
   • A princely state merged with India on November 15, 1949.
   • Became a full-fledged state on January 21, 1972.

Cultural and Regional Significance:

• Northeastern Region: Known as the “Seven Sisters,” comprising Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.
• Rich in biodiversity, traditional arts, dance, literature, and diverse ethnic cultures.
• This day celebrates their integration into the Indian Union while honoring their distinct identities.

Tabular Summary:

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Ranking – Daily Current Affairs January 21

2. Who topped the HSBC Hurun Global Indians List 2024?
A) Sundar Pichai
B) Shantanu Narayen
C) Satya Nadella
D) Neal Mohan
E) Leena Nair
Answer: C) Satya Nadella

Event and Location:

• Event: Satya Nadella Tops HSBC Hurun Global Indians List 2024
• Published Date: January 21, 2025
• Significance: Highlights the most influential leaders of Indian origin globally, with a combined company valuation of $10 trillion.

Key Highlights:

1. Top Leaders on the List:
   • Satya Nadella (CEO, Microsoft) secured the top spot.
   • Sundar Pichai (CEO, Alphabet) ranked second.
   • Neal Mohan (CEO, YouTube) came in third.
   • Thomas Kurian (CEO, Google Cloud) ranked fourth.
   • Shantanu Narayen (Chairman and CEO, Adobe) ranked fifth.
2. Women Representation:
   • Leena Nair (CEO, Chanel) was recognized as the most influential woman of Indian origin.
   • 12 women leaders made it to the list.
3. Youngest Leader:
   • Tanay Tandon, 27, co-founder and CEO of Commure, is the youngest on the list.
4. Industry Representation:
   • Dominant industries:
     • Software and Services: 87 leaders.
     • Financial Services: 24 leaders.
     • Healthcare: 21 leaders.
5. Geographical Distribution:
   • United States: 79% of the leaders.
   • United Kingdom: 5%.
   • United Arab Emirates: 4%.
   • San Francisco: Home to 37 leaders, the highest representation.
6. Educational Insights:
   • 62% completed undergraduate studies in India.
   • 77% pursued postgraduate studies in the USA.
   • IIT Madras: Leading undergraduate institution with 14 entrants.
   • Stanford University: Top postgraduate institution with 20 leaders.
7. Social Media Influence:
   • Sundar Pichai: 5.4 million followers.
   • Satya Nadella: 3.2 million followers.
   • Naval Ravikant: 2.6 million followers.

Tabular Summary:

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Banking and Finance – Daily Current Affairs January 21

3. What was the record loan disbursal amount under the Pradhan Mantri Mudra Yojana (PMMY) in Q3 FY25?
A) ₹2.50 lakh crore
B) ₹3.10 lakh crore
C) ₹3.39 lakh crore
D) ₹5.20 lakh crore
E) ₹4.40 lakh crore
Answer: C) ₹3.39 lakh crore

Event and Location:

• Event: Record Loan Disbursal Under PMMY in Q3 FY25
• Date: Third Quarter (Q3) of FY25
• Location: India

Mandates and Objectives:

• Provide collateral-free loans to micro and small enterprises.
• Promote financial inclusion, entrepreneurship, and self-employment.

Key Features of PMMY:

• New Loan Limit: Revised from ₹10 lakh to ₹20 lakh, effective October 24, 2024.
• Tarun Plus Category: Introduced for successful borrowers to access higher credit limits.
• Credit Guarantee Scheme: Launched in July 2024, enabling manufacturing SMEs to procure machinery and equipment without collateral.

Comparative Analysis:

• Q3 FY25 Disbursal: ₹3.39 lakh crore, the highest quarterly figure since the scheme’s inception.
• First Half of FY25: ₹1.86 lakh crore, slightly lower than ₹1.91 lakh crore during the same period in FY24.
• FY24 Total Disbursal: ₹5.20 lakh crore, surpassing ₹4.40 lakh crore disbursed in FY23.

Impact and Outlook:

• The increased loan limits and policy enhancements are expected to sustain the growth trajectory.
• These developments contribute to economic activity at the grassroots level, benefiting marginalized entrepreneurs and small businesses.

Tabular Summary:

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4. What number series has the RBI mandated banks to use for transactional calls?
A) 1200xx
B) 140xx
C) 1600xx
D) 1500xx
E) 1700xx
Answer: C) 1600xx

Event and Location:

• Event: RBI Directs Banks to Use ‘1600xx’ Number Series for Transactional Calls
• Date: Announcement made on January 21, 2025
• Location: India

Mandates and Objectives:

• Transactional Calls: Banks must use the ‘1600xx’ number series exclusively for transactional communications.
• Promotional Calls: The ‘140xx’ series is designated for promotional calls.
• Objective: To combat financial fraud by distinguishing between transactional and promotional communications.

Key Directives by RBI:

• Monitoring and Updates:
  • Banks must regularly update customer databases and ensure registered numbers are valid.
  • Utilize the Mobile Number Revocation List (MNRL) via the Digital Intelligence Platform (DIP) developed by the Department of Telecommunications (DoT) to identify and remove invalid or revoked numbers.
• Standard Operating Procedures (SOPs):
  • Develop SOPs for verifying and updating registered mobile numbers.
  • Monitor accounts linked to revoked numbers to prevent misuse.

Compliance Deadline:

• Banks and other regulated entities must adhere to these instructions by March 31, 2025.

Context:

• The directive comes in response to the increasing risk of financial fraud due to the growing volume of digital transactions. Scammers often misuse mobile numbers for unauthorized activities.
• RBI aims to safeguard consumers by strengthening the security framework of digital financial services.

Tabular Summary

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5. What was UCO Bank’s net profit for Q3FY25?
A) ₹503 crore
B) ₹590 crore
C) ₹639 crore
D) ₹1,586 crore
E) ₹2,378 crore
Answer: C) ₹639 crore

Event and Location:

• Event: UCO Bank Q3FY25 Financial Results
• Date Announced: January 21, 2025
• Key Performance Indicator: 27% YoY increase in net profit

Financial Highlights:

1. Net Profit:
   • Rose by 27% YoY to ₹639 crore, compared to ₹503 crore in Q3FY24.
2. Net Interest Income (NII):
   • Increased by 19.62% YoY to ₹2,378 crore, up from ₹1,988 crore in Q3FY24.
   • Net Interest Margin (NIM): Improved to 3.17% from 2.84% in Q3FY24.
3. Operating Profit:
   • Increased by 42% YoY to ₹1,586 crore.
4. Non-Interest Income:
   • Rose to ₹1,185.9 crore, a significant jump from ₹860.8 crore in Q3FY24.
5. Advances and Deposits Growth:
   • Advances grew by 16.44% YoY to ₹2.09 lakh crore.
   • Deposits increased by 9.36% YoY to ₹2.80 lakh crore.
   • CASA ratio rose to 37.9% from 37.6% a year earlier.
6. Asset Quality:
   • Gross NPAs: Declined to 2.91% (from 3.85% in December 2023).
   • Net NPAs: Declined to 0.63% (from 0.98%).
   • Provision Coverage Ratio (PCR): Improved to 96.16%.
7. Capital Adequacy:
   • Total Capital Adequacy Ratio: 16.25%.
   • CET-1 Ratio: 13.81%.

Strategic Developments:

1. Qualified Institutional Placement (QIP):
   • Plans to raise ₹2,000 crore in Q4FY25 through QIP.
   • Government of India’s stake to reduce by 3% from the current 95.39%.
2. Growth Outlook:
   • Advances expected to grow by 12-14% YoY and deposits by 8-10% YoY by March 2025.

Tabular Summary:

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6. What is the primary objective of the newly launched Priority Sector Lenders Association of India (PSLAI)?
A) To promote digital payments in rural India
B) To double credit disbursements to MSMEs and SMEs
C) To replace RBI’s Priority Sector Lending norms
D) To increase agricultural exports by 50%
E) To create new policies for housing loans
Answer: B) To double credit disbursements to MSMEs and SMEs

Event and Location:

• Event: Launch of the Priority Sector Lenders Association of India (PSLAI)
• Date: January 20, 2025
• Launched by: iSPIRT in collaboration with UGRO Capital

Objectives of PSLAI:

1. Address Credit Challenges:
   • Focus on MSMEs, agriculture, and affordable housing under the Reserve Bank of India’s (RBI) Priority Sector Lending (PSL) norms.
2. Expand Credit Disbursement:
   • Aim to double credit disbursement to MSMEs and SMEs, leveraging digital public infrastructure.
3. Promote Policy Reforms:
   • Advocate for liberalized risk weightage for PSL portfolios.
   • Encourage fair practices and improved borrower ecosystems, especially for MSMEs.
4. Enable Digital Financing:
   • Promote platforms like OCEN (Open Credit Enablement Network) for cash flow-based lending.

Key Participants:

• Founding Members:
  • UGRO Capital
  • IIFL
  • Fintechs like GetVantage and GetGrowth Capital

Strategic Insights:

1. PSL Mandate:
   • As per RBI norms, banks must allocate 40% of Adjusted Net Bank Credit (ANBC) to PSL, translating to ₹64 trillion annually.
2. MSME Sector Impact:
   • MSMEs contribute 29% to India’s GDP and 46% of exports but face a credit gap of ₹103 trillion.
3. Future Projections:
   • Credit in priority sectors could grow to ₹130 trillion in the next 3–5 years through suitable policies and products.

Challenges Addressed by PSLAI:

• Risk in Smaller Loans: PSL loans are often perceived as riskier due to smaller ticket sizes and higher defaults.
• Informal Credit Dependence: MSMEs rely heavily on informal sources, with only 25% of financing met through formal channels.

Tabular Summary:

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7. How many all-women branches did Bank of Baroda recently open in Odisha and Jharkhand?
A) 3
B) 4
C) 5
D) 6
E) 7
Answer: C) 5

Event and Location:

• Event: Bank of Baroda Opens All-Women Branches in Odisha and Jharkhand
• Date Announced: January 20, 2025
• Locations:
  • Odisha: Bhubaneswar (Niladri Vihar), Cuttack (Khunta), Sambalpur (Dhanupali)
  • Jharkhand: Ranchi (Irba), Jamshedpur (Jamshedpur Women’s College)

Purpose and Objectives of the Initiative:

1. Empower Women:
   • Promote gender parity by enabling women employees to manage branch operations.
   • Offer leadership opportunities to women employees.
2. Customer Focus:
   • Cater to women customers with tailored savings and loan schemes.
   • Provide a supportive and empowering environment for all customers.
3. Financial Inclusion:
   • Expand access to financial services for women.
   • Promote financial literacy through regular events and outreach programs.

Banking Products and Schemes Offered:

1. BoB Mahila Shakti Savings Account: Specially designed for women customers with added benefits.
2. Women Power Current Account: Offers tailored features to meet business needs.
3. Mahila Swavalamban Loan: Focuses on women entrepreneurs, supporting small businesses and startups.
4. Government Schemes: Promotes various entrepreneurship and social security schemes.

Tabular Summary:

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8. Which company received RBI’s in-principle approval to operate as a Payment Aggregator-Cross Border (PA-CB) entity?
A) Razorpay
B) Instamojo
C) Skydo
D) PayU
E) Pine Labs
Answer: C) Skydo

Event and Location:

• Event: Skydo Receives RBI’s Authorization for PA-CB Operations
• Date Announced: January 21, 2025
• Company: Skydo Technologies Private Limited
• Approval Type: Payment Aggregator-Cross Border (PA-CB)

About Skydo Technologies:

1. Business Overview:
   • Founded: 2022
   • Focus Area: Cross-border payments, primarily serving MSME exporters.
   • Current Customer Base: Over 12,000 exporters in India.
   • Annual Payment Volume: USD 250 million in export payments.
2. Leadership:
   • Co-Founders:
     • Srivatsan Sridhar (CEO)
     • Movin Jain
3. Key Services and Features:
   • Transparent pricing with no markup on live mid-market forex rates.
   • Digital onboarding with instant KYC.
   • Fast settlements and issuance of Foreign Inward Remittance Advice (FIRA).
   • Comprehensive invoicing, payment, and reconciliation solutions.
4. Future Plans:
   • Scale payment volumes 10x in 18–24 months.
   • Expand services to include import payments and new trade corridors.
   • Introduce offerings like credit, tax compliance, treasury services, and EDPMS reconciliation to build a cross-border financial operating system for exporters.

Significance of RBI Approval:

1. Regulatory Framework:
   • RBI’s Payment Aggregator framework now includes cross-border payments, enabling companies like Skydo to develop advanced financial solutions.
2. Support for MSMEs:
   • Provides Indian MSMEs with seamless access to global markets, supporting invoicing, compliance, and settlement processes.
3. Global Reach:
   • Strengthens India’s presence in cross-border financial transactions, empowering businesses with cutting-edge tools to scale globally.

Tabular Summary:

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Business and Economy – Daily Current Affairs January 21

9. What is Moody’s revised economic growth forecast for India in FY25?
A) 6.4%
B) 6.5%
C) 6.6%
D) 7%
E) 8.2%
Answer: D) 7%

Event and Location:

• Event: Moody’s Revises India’s Economic Growth Forecast for FY25
• Date: Announcement made in January 2025
• Location: India

Mandates and Objectives:

• Moody’s revised India’s GDP growth for FY25 to 7%, down from the 8.2% growth recorded in FY24.
• The revision reflects the impact of global and domestic economic slowdowns, weaker performance in key sectors, and inflationary pressures.

Key Observations:

• India’s GDP Per Capita (PPP): Increased by 11% year-on-year, reaching $10,233 in FY23, reflecting a higher standard of living.
• Sectoral Growth in Q2 FY25:
  • Agriculture: 3.5% growth
  • Services: 7.1% growth
  • Industrial Output: 3.6% growth, slower than expected.

Factors Influencing the Forecast:

1. Domestic and Global Slowdowns:
   • Weaker industrial growth and government spending.
   • Slower global demand and geopolitical tensions impacting exports.
2. Tight Monetary Policies:
   • Inflation control measures like interest rate hikes reduced private investment and housing demand.
3. Geopolitical Uncertainties:
   • Global trade disruptions affecting supply chains and export-driven industries.
4. Weather Challenges:
   • Unseasonal rains and droughts hampered agricultural productivity.

Comparison with Other Economic Organizations:

• FICCI: Revised GDP growth forecast for FY25 to 6.4%, citing deceleration in growth.
• Asian Development Bank (ADB): Lowered FY24 projection to 6.5% and FY25 projection to 7%, reflecting subdued private investments.
• RBI: Revised India’s GDP growth forecast for FY25 to 6.6%, down from an earlier estimate of 7.2%.

Tabular Summary:

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10. What is the primary goal of the partnership between Bharti Airtel and Bajaj Finance?
A) To expand Airtel’s telecom network
B) To create a digital financial services platform
C) To launch an exclusive telecom financing scheme
D) To provide only business loans to SMEs
E) To establish a mutual fund distribution system
Answer: B) To create a digital financial services platform

Event and Location:

• Event: Bharti Airtel and Bajaj Finance Partner for a Digital Financial Services Platform
• Date Announced: January 20, 2025
• Objective: To enhance access to financial services for millions of customers by combining Airtel’s digital reach and Bajaj Finance’s financial product expertise.

Key Features of the Partnership:

1. Platform Integration:
   • Bajaj Finance’s financial products will be made available through Airtel’s Thanks App and its nationwide network of stores.
2. Product Offering:
   • Initial rollout includes Gold Loan, Business Loan, Personal Loan, and a co-branded Insta EMI Card.
   • By March 2025, four financial products will be available, with the aim to offer up to 10 products by the end of the year.
3. Reach and Scale:
   • Airtel:
     • 375 million customer base.
     • 12 lakh+ distribution network.
   • Bajaj Finance:
     • 27 product lines.
     • Over 5,000 branches and 70,000 field agents.
4. Customer Benefits:
   • Airtel-Bajaj Finserv Insta EMI Card:
     • Flexible EMI options for goods like electronics, furniture, and groceries.
     • Applicable across 1.5 lakh+ partner stores in 4,000+ cities.
     • Usable for e-commerce transactions.
   • Gold Loan Offering:
     • Empowers new-to-credit customers by integrating them into the formal financial system.

Strategic Vision:

• Airtel Finance:
  • Aims to become a one-stop financial services platform, trusted by over 1 million customers already.
• Bajaj Finance:
  • Seeks to leverage India’s digital infrastructure to ensure inclusive growth and enable millions, including those in remote areas, to access formal credit.

Tabular Summary:

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Appointments – Daily Current Affairs January 21

11. Who was sworn in as the 47th President of the United States on January 20, 2025?
A) Joe Biden
B) Kamala Harris
C) Donald Trump
D) Grover Cleveland
E) Ron DeSantis
Answer: C) Donald Trump

Event and Location:

• Event: Swearing-in of Donald Trump as the 47th President of the United States
• Date: January 20, 2025
• Location: Capitol Rotunda, Washington, D.C., moved indoors due to extreme cold weather

Mandates and Objectives:

• Reversing policies implemented by Joe Biden
• Enforcing immigration reforms and mass deportations
• Declaring a national emergency at the southern border
• Expanding fossil fuel initiatives to reshape the energy market

Important Terms Explained:

• Golden Age of America: Trump’s vision for economic growth, deregulation, and nationalism during his second term.
• Birthright Citizenship: Legal right to citizenship for children born in the U.S., which Trump aims to eliminate.
• Strategic Autonomy: Emphasized by European leaders to reduce dependency on the U.S. for defense and policy.

Tabular Summary:

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12. Who has been appointed as the chairperson of the newly constituted RBI Standing External Advisory Committee (SEAC) for bank licensing?
A) Shyamala Gopinath
B) Hemant G. Contractor
C) M. K. Jain
D) Revathy Iyer
E) N. S. Kannan
Answer: C) M. K. Jain

Event and Location:

• Event: Constitution of the RBI Standing External Advisory Committee (SEAC)
• Date: January 20, 2025
• Location: India

Mandates and Objectives:

• Evaluate applications for Universal Banks and Small Finance Banks (SFBs).
• Ensure applicants meet regulatory criteria for stability and integrity in banking operations.

Committee Composition and Tenure:

• Chairperson: M. K. Jain, former Deputy Governor, RBI.
• Members:
  • Revathy Iyer: Director, Central Board, RBI.
  • Parvathy V. Sundaram: Former Executive Director, RBI.
  • Hemant G. Contractor: Former MD, SBI, and former Chairman, PFRDA.
  • N. S. Kannan: Former MD & CEO, ICICI Prudential Life Insurance.
• Tenure: Three years, with secretarial support from RBI’s Department of Regulation.

Current Applications Under Review:

• Universal Bank licenses:
  • Annapurna Finance
  • AU Small Finance Bank (AU SFB)
• SFB licenses:
  • Fino Payments Bank
  • VFS Capital

Background and Precedent:

• Builds upon a similar initiative from March 2021, chaired by Shyamala Gopinath, which also evaluated banking licenses.
• Applications from existing SFBs seeking Universal Bank licenses may skip the evaluation process.

Implications for the Banking Sector:

• Reinforces transparency in bank licensing procedures.
• Ensures new entrants meet rigorous standards, maintaining stability and integrity in the financial system.
• Supports financial inclusion and enhances banking services.

Tabular Summary:

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13. Who has been appointed as the Group CEO of Angel One, effective March 2025?
A) Sundar Pichai
B) Shaktikanta Das
C) Ambarish Kenghe
D) Arundhati Bhattacharya
E) N. S. Kannan
Answer: C) Ambarish Kenghe

Event and Location:

• Event: Appointment of Ambarish Kenghe as Group CEO of Angel One
• Date: Effective March 2025
• Location: Angel One, India

Mandates and Objectives:

• Lead Angel One through digital transformation and innovation.
• Enhance technological infrastructure for seamless and efficient financial services.
• Scale operations to strengthen Angel One’s position in the fintech ecosystem.

Ambarish Kenghe’s Expertise:

• Google Pay APAC: Played a key role in UPI growth in India as Vice President & GM.
• Myntra: Integrated AI/ML for personalized retail operations as Chief Product Officer.
• Bain & Company: Strategy consulting expertise.
• Cisco: Engineering experience contributing to technology-driven problem-solving.

Focus Areas on New Role:

• Driving innovation and introducing cutting-edge fintech solutions.
• Expanding operations to capture a larger market share in India’s fintech sector.
• Bridging business strategies with advanced technologies for sustained growth.

Industry Context:

• Aligns with trends of appointing leaders with strong fintech and technology backgrounds.
• Focus on responding to the evolving needs of digital transformation in financial services.

Tabular Summary:

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14. Who has been appointed as the Secretary General of the Indian Ocean Rim Association (IORA)?
A) Shaktikanta Das
B) Masatsugu Asakawa
C) Sanjiv Ranjan
D) Harsh Vardhan Shringla
E) S. Jaishankar
Answer: C) Sanjiv Ranjan

Event and Location:

• Event: Appointment of Shri Sanjiv Ranjan as Secretary General of IORA
• Date: Announced on December 30, 2024
• Role: Secretary General of the Indian Ocean Rim Association (IORA)

About IORA:

• Founded: 1997
• Members: 23 countries, including India, Australia, Indonesia, and South Africa.
• Dialogue Partners: 12, including China, the European Union, and the United States.
• Focus Areas:
  • Economic cooperation
  • Sustainable development
  • Maritime security
  • Fisheries and tourism
• Observer Status: United Nations General Assembly and African Union since 2015.

Shri Sanjiv Ranjan’s Diplomatic Career:

• Experience: Over 30 years in international relations and cooperation.
• Education:
  • B.A. (Hons): Economics, Delhi University.
  • M.A.: International Relations, Jawaharlal Nehru University, New Delhi.
• Key Roles Held:
  • Embassies: Madrid, Lima, and Permanent Mission of India in New York.
  • Mauritius: Deputy High Commissioner (2006-2009).
  • MEA Director (North): Oversaw projects in India’s neighborhood (2009).
  • Joint Secretary: Coordinated India-Africa Forum Summit (2015).
  • Ambassador:
    • Argentina: 2016-2019 (also accredited to Uruguay and Paraguay).
    • Colombia: 2019-2022 (also accredited to Ecuador).
  • MEA OSD: Oversaw personnel, establishment, and e-governance.

Significance of the Appointment:

• IORA’s Goals: Strengthen regional cooperation in trade, security, and sustainable development among Indian Ocean Rim countries.
• Diplomatic Leadership: Shri Ranjan’s extensive experience and multilingual skills (English, Hindi, Spanish) enhance IORA’s capacity to address regional challenges effectively.

Tabular Summary:

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15. Who has been appointed as the CEO and MD of Zurich Kotak General Insurance, effective January 1, 2025?
A) Suresh Agarwal
B) Alok Kumar Agarwal
C) Shaktikanta Das
D) Masatsugu Asakawa
E) Harsh Vardhan Shringla
Answer: B) Alok Kumar Agarwal

Event and Location:

• Event: Appointment of Alok Kumar Agarwal as CEO and MD of Zurich Kotak General Insurance
• Date of Appointment: January 1, 2025
• Predecessor: Suresh Agarwal

Professional Background of Alok Kumar Agarwal:

• Experience:
  • 22 years at ICICI Lombard General Insurance in key leadership roles.
  • Expertise in corporate, SME, government, rural, crop, and retail insurance sectors.
  • Most recently served as Executive Director, heading the retail business in the Emerging Markets Group.
• Achievements:
  • Spearheaded growth in the Corporate Solutions Group.
  • Built strong corporate and reinsurance partnerships.

Educational Qualifications:

• Bachelor of Engineering: Jadavpur University.
• Postgraduate Degree in Management (MBA): Indian Institute of Management Kolkata.

Strategic Developments at Zurich Kotak General Insurance:

• June 2024: Zurich Insurance Group acquired a 70% stake in Kotak Mahindra General Insurance for ₹5,560 crore (approximately $670 million).
• This investment marked the largest foreign investment in India’s general insurance sector since the FDI cap was raised to 74% in 2021.

Alok Kumar Agarwal’s Vision:

• Focus on innovation, customer satisfaction, and sustainable business practices.
• Enhance market presence through technology and collaboration.
• Foster a culture of integrity and stakeholder value creation.

Tabular Summary:

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Defence – Daily Current Affairs January 21

16. Which Indian naval ship is participating in the La Perouse 2025 multinational naval exercise?
A) INS Vikramaditya
B) INS Kolkata
C) INS Mumbai
D) INS Shivalik
E) INS Talwar
Answer: C) INS Mumbai

Event and Location:

• Event: INS Mumbai Joins La Perouse 2025
• Date: January 16, 2025
• Location: Strategic waterways of the Malacca, Sunda, and Lombok Straits in the Indo-Pacific region

Objectives and Participants of La Perouse 2025:

• Objective: Enhance maritime situational awareness, cooperation, and interoperability among navies.
• Key Focus Areas:
  • Maritime surveillance
  • Interdiction operations
  • Anti-air and surface warfare
  • Air defense and tactical maneuvers
  • Visit, Board, Search, and Seizure (VBSS) operations
• Participating Nations:
  • India
  • France (host)
  • Australia
  • United States
  • United Kingdom
  • Indonesia
  • Malaysia
  • Singapore
  • Canada

INS Mumbai’s Role:

• Type: Indigenously designed and built guided-missile destroyer of the Indian Navy.
• Significance:
  • Highlights India’s commitment to maritime cooperation and security in the Indo-Pacific.
  • Aligns with India’s SAGAR initiative (Security and Growth for All in the Region), focusing on a rules-based international maritime order.

Historical Context:

• La Perouse Exercise:
  • Fourth iteration; conducted biennially since 2021.
  • Gaining importance in enhancing maritime partnerships in the Indo-Pacific.

Tabular Summary:

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17. What is the maximum detection range of India’s Bhargavastra micro-missile system against drones?
A) 4 km
B) 5 km
C) 6 km
D) 8 km
E) 10 km
Answer: C) 6 km

Event and Location:

• Event: Successful Testing of Bhargavastra Micro-Missile System
• Date: January 2025
• Location: India

Key Features of Bhargavastra:

1. Detection and Neutralization:
   • Detects and neutralizes drone threats within a 6 km radius using guided micro munitions.
2. Simultaneous Launch:
   • Can launch up to 64 micro missiles simultaneously, effectively countering swarm drone formations.
3. Mobile Platform:
   • Mounted on a mobile platform for rapid deployment across various terrains, including high-altitude regions.
4. Versatility:
   • Specifically designed to meet the operational needs of the Indian military in diverse terrains.

Strategic Importance:

• Cost-Effectiveness:
  • Provides a cost-efficient solution for countering drone swarms, reducing reliance on expensive air defense systems.
• Atmanirbhar Bharat:
  • Represents a significant step under India’s self-reliance initiative, reducing dependency on foreign imports in the defense sector.
• Enhanced Security:
  • Strengthens India’s defense capabilities against emerging aerial threats, particularly affordable and accessible drones.

Tabular Summary:

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International Affairs – Daily Current Affairs January 21

18. What is the length of the world’s longest expressway tunnel, the Tianshan Shengli Tunnel, completed by China?
A) 20.5 km
B) 22.13 km
C) 21.8 km
D) 23.0 km
E) 19.6 km
Answer: B) 22.13 km

Event and Location:

• Event: Completion of the Tianshan Shengli Tunnel
• Date: January 2025
• Location: Xinjiang Uygur Autonomous Region, China

Key Features of the Tianshan Shengli Tunnel:

• Length: 22.13 kilometers, making it the world’s longest expressway tunnel.
• Part of: Urumqi-Yuli Expressway, connecting Urumqi in northern Xinjiang to Yuli County in the south.
• Travel Time Reduction: Cuts travel time across the Tianshan Mountains from three hours to 20 minutes.

Construction and Challenges:

• Start Date: April 2020.
• Altitude and Terrain: Constructed at over 3,000 meters in challenging high-altitude conditions.
• Technological Feat: First-time use of tunnel boring machines in China’s road tunnel projects to expedite construction.
• Environmental Measures: High ecological protection standards to safeguard wildlife habitats and water sources.

Strategic Implications:

1. Regional Connectivity:
   • Enhances north-south connectivity in Xinjiang.
   • Facilitates economic integration and regional development.
2. Belt and Road Initiative (BRI):
   • Strengthens trade routes and aligns with China’s broader BRI objectives.
   • Contributes to the Silk Road Economic Belt, part of the BRI framework.
3. Geopolitical Impact:
   • Expands China’s influence in Central Asia.
   • Bolsters trade and economic relations with neighboring countries.

Tabular Summary:

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19. What is the duration of the strategic partnership treaty signed between Russia and Iran in January 2025?
A) 10 years
B) 15 years
C) 20 years
D) 25 years
E) 30 years
Answer: C) 20 years

Event and Location:

• Event: Russia and Iran Forge Comprehensive Strategic Partnership
• Date: January 17, 2025
• Location: Moscow, Russia

Key Provisions of the Treaty:

1. Economic Cooperation:
   • Bilateral Trade: A 15.5% increase in trade, reaching $3.77 billion between January and October 2024.
   • Plans for transport corridors to enhance connectivity.
2. Military and Defense:
   • Joint military efforts against shared threats.
   • Intelligence exchange and collaboration to counter sanctions.
3. Energy and Infrastructure:
   • Focus on gas shipments between Russia, Iran, and Azerbaijan.
   • Development of regional transport infrastructure.
4. Cultural and Scientific Exchange:
   • Collaboration in peaceful nuclear energy, technology, and cybersecurity.
   • Joint efforts in counterterrorism, environmental protection, and combating organized crime.

Historical Context:

• Russia and Iran have a history of rivalry dating back to the 18th century.
• Their modern relationship improved after the collapse of the Soviet Union in 1991, with Russia emerging as a key defense and trade partner for Iran amidst global sanctions.

Implications for Global Politics:

• The partnership strengthens anti-Western sanctions cooperation.
• Planned joint military drills have raised concerns in Western capitals, particularly the USA.
• Enhances regional influence for both nations in response to Western pressures.

Tabular Summary:

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National Affairs – Daily Current Affairs January 21

20. What is the primary purpose of the newly launched ‘Entity Locker’ platform by the Government of India?
A) To provide free digital storage for citizens.
B) To streamline and manage business and organizational documents securely.
C) To integrate Aadhaar data with business processes.
D) To offer cloud storage exclusively for government employees.
E) To replace DigiLocker for personal use.
Answer: B) To streamline and manage business and organizational documents securely.

Event and Location:

• Event: Launch of ‘Entity Locker’ for Business Document Management
• Date: January 21, 2025
• Location: India

Mandates and Objectives:

• Streamline business and organizational document management.
• Ensure efficient and secure digital governance.
• Enhance transparency and accountability in document handling.

Key Features of Entity Locker:

• Integration with Government Systems: Links with MCA, GSTN, and DGFT for seamless document access.
• Consent-Based Sharing: Ensures privacy while securely sharing documents with stakeholders.
• Aadhaar-Authenticated Role-Based Access: Provides authorized, role-specific document access.
• Legally Valid Digital Signatures: Ensures compliance with regulatory standards.
• Secure Cloud Storage: Offers 10 GB of encrypted storage for sensitive documents.

Benefits of Entity Locker:

• Improves operational efficiency by reducing delays.
• Tracks document activities for enhanced transparency.
• Facilitates vendor verification, MSME loan approvals, and compliance with regulatory standards.

Applications:

• Procurement portals for vendor verification.
• MSME sector for faster loan approvals.
• Simplification of annual filings for corporate entities.
• Regulatory compliance, including FSSAI and GST filings.

Alignment with DPI:

• Entity Locker aligns with India’s Digital Public Infrastructure (DPI) and supports the Union Budget 2024-25 goals of enhancing ease of doing business and digital governance.

Tabular Summary:

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21. Which two organizations have collaborated to provide meals during the Maha Kumbh Mela 2025?
A) ISKCON and Reliance Industries
B) ISKCON and Tata Group
C) ISKCON and Adani Group
D) Adani Group and Infosys
E) Reliance Industries and Infosys
Answer: C) ISKCON and Adani Group

Event and Location:

• Event: Collaboration Between ISKCON and Adani Group at Maha Kumbh Mela 2025
• Date: Ongoing in 2025
• Location: Maha Kumbh Mela

Mandates and Objectives:

• Serve nutritious, eco-friendly meals to nearly one lakh people daily during the 45-day event.
• Ensure sustainable practices by avoiding plastic and using traditional cooking methods.

Key Contributions by ISKCON:

• Large-Scale Kitchen: Set up at Harshvardhan Marg, preparing meals in three daily sessions.
• Meal Preparation: Nutritious meals include dal, chole or rajma, vegetables, roti, rice, and sweets like halwa or boondi laddu.
• Traditional Cooking: Meals are prepared using clay stoves with wood and cow dung cakes, maintaining taste and eco-friendliness.
• Planning: Preparation of cow dung cakes began six months before the event.

Adani Group’s Role:

• Logistical Support: Provided 100 vehicles to distribute meals across the sprawling Mela grounds.
• Volunteer Participation: 3,000 to 3,500 volunteers, including employees, help in the distribution process.
• Employee Engagement: Over 4,000 employees volunteered for the service, including executives at senior levels.

Impact of Collaboration:

• Capacity Expansion: ISKCON’s meal distribution capability increased by 8-10 times due to Adani Group’s support.
• Sustainability: The event is plastic-free, reflecting the environmental commitment of both organizations.

Significance of the Initiative:

• Demonstrates a model for large-scale charitable operations combining community service and environmental responsibility.
• Sets a benchmark for collaborative efforts during major spiritual gatherings.

Tabular Summary:

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22. Which state recently became the 34th to implement the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY)?
A) West Bengal
B) Tamil Nadu
C) Odisha
D) Gujarat
E) Maharashtra
Answer: C) Odisha

Event and Location:

• Event: Odisha Implements Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY)
• Date Announced: January 13, 2025
• Significance: Odisha became the 34th state to implement the AB PM-JAY scheme.

Key Details of the Scheme Implementation:

1. Convergence with Gopabandhu Jan Arogya Yojana (GJAY):
   • The scheme provides ₹5 lakh per family per annum and an additional ₹5 lakh for women members.
   • Covers approximately 1.03 crore families, with 67.8 lakh families supported by the Union Government.
2. Healthcare Infrastructure Improvement:
   • Odisha residents now have access to 29,000 empaneled hospitals nationwide (previously only 900 hospitals).
3. Impact on Odisha:
   • Beneficiaries: Around 4.5 crore people, covering 86% of Odisha’s population.
   • Single card enables access to cashless and quality healthcare services.
4. National Achievements of AB PM-JAY:
   • 8.19 crore hospital admissions since inception.
   • ₹1.13 lakh crore spent on healthcare for marginalized communities.
   • Nearly 2,000 medical procedures covered across 27 specialties.
   • Significant increases in hospital admissions, even in remote and disturbed areas like Bastar and Bijapur districts.
5. Health Outcomes:
   • According to Lancet Southeast Asia study, AB PM-JAY increased cancer care access by 33%.
   • Promoted early diagnoses and health-seeking behavior, especially among women.

Officials Present at the MoU Signing:

• Union Health Minister: Shri Jagat Prakash Nadda
• Chief Minister of Odisha: Shri Mohan Charan Majhi
• Union Ministers: Shri Dharmendra Pradhan, Shri Jual Oram, Shri Ashwini Vaishnaw
• Odisha Officials: Shri Kanak Vardhan Singh Deo, Dr. Mukesh Mahaling

Tabular Summary:

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23. What is the maximum annual deposit limit under the Sukanya Samriddhi Yojana (SSY)?
A) ₹50,000
B) ₹1,00,000
C) ₹1,50,000
D) ₹2,00,000
E) ₹2,50,000
Answer: C) ₹1,50,000

Event and Location:

• Event: Sukanya Samriddhi Yojana (SSY) Celebrates 10 Years of Implementation
• Date Launched: January 22, 2015
• Significance: Part of the Beti Bachao, Beti Padhao Campaign, aimed at securing the financial future of girl children.

Key Features of Sukanya Samriddhi Yojana:

1. Eligibility and Account Opening:
   • Account can be opened for a girl child aged 0–10 years.
   • Only one account per child; exceptions for twins or triplets.
   • Documents Required:
     • Sukanya Samriddhi Account Opening Form
     • Birth certificate of the girl child
     • Identity and residence proofs (as per RBI KYC norms).
2. Deposits:
   • Minimum Initial Deposit: ₹250.
   • Annual Deposit Range: ₹250 to ₹1,50,000.
   • Deposits allowed for 15 years from the account opening date.
3. Interest Rate and Calculation:
   • Interest is calculated monthly and credited annually.
   • Ensures consistent financial growth for the girl child.
4. Withdrawals:
   • Allowed after the account holder turns 18 years old or completes the 10th standard, whichever is earlier.
   • Up to 50% of the balance can be withdrawn for educational purposes, with proof of admission or fee requirements.
5. Maturity and Closure:
   • Account matures 21 years after opening or upon the account holder’s marriage (minimum age: 18).
   • Early closure permitted under specific conditions, like marriage or compassionate grounds.
6. Premature Closure:
   • Allowed in cases such as:
     • Death of the account holder or guardian.
     • Life-threatening medical conditions.
   • No closure within the first 5 years except under exceptional circumstances.

Achievements of SSY:

1. Account Openings:
   • Over 4.1 crore accounts opened as of November 2024.
2. Beneficiaries:
   • Provides ₹5 lakh per family annually, with an additional ₹5 lakh for women members.
3. Nationwide Impact:
   • Covers approximately 45% of India’s population.
4. Empowerment and Inclusion:
   • Encourages families to invest in girl child education and empowerment, driving societal change.

Tabular Summary:

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Over All Review

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