Daily Current Affairs January 16

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 16. 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.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

January 16 | Daily Current Affairs 2024

Obituary – Daily Current Affairs January 16

1. What was the primary profession of Joy, who recently passed away?
A) Film Actor
B) Music Director
C) Sports Personality
D) Scientist
E) Politician
Answer: B) Music Director

• Noted Malayalam music director passed away.
• Joy, born in 1946 at Nellikunnu in Thrissur district of Kerala, composed music for more than 200 films.
• He made his debut in the Malayalam cinema in 1975.
• He also composed many songs for the youth, including the hit song En Swaram Poovidum Ganame…
• Some of the over 200 films he composed music for are: Ivan Ende Priyaputran, Chandanachola, Aradhana, Snehayamuna, Mukkuvane Snehicha Bhootham, Lisa Madalasa, Sayujyam, Itha Oru Theeram, Anupallavi, Sarpam, Shakti, Hridayam Padunnu, Chandrahasam, Manushya Mrigam and Karimpucha

---

Banking and Finance – Daily Current Affairs January 16

2. What does SRO-FT stand for in the Reserve Bank of India’s proposal?
A) Securities Regulatory Organization for Fintech
B) Self-Regulatory Organisation for Financial Technologies
C) Systematic Risk Oversight for Fintech
D) Sustainable Regulatory Organization for Future Technologies
E) Strategic Resolution Office for Financial Transactions
Answer: B) Self-Regulatory Organisation for Financial Technologies

• The Reserve Bank of India has proposed a framework for self-regulatory organisation for fintech companies aimed at setting standards for the industry, oversight and enforcement, grievance redressal, and dispute resolution.
• Through collaboration, the industry could collectively identify and address challenges, foster an environment where innovation flourishes, and guide a shared commitment to ethical business practices.
• On eligibility and membership, the draft norms said the applicant should be set up as a not-for-profit firm and should have sufficient net worth, and demonstrate the capability of establishing the necessary infrastructure to fulfil the responsibilities of SRO-FT.
• To maintain credibility, the SRO-FT should operate independently, free from the influence of any single member or group of members.
• The SRO-FT should maintain impartiality, avoid conflicts of interest, and ensure unbiased oversight over its members.
• The applicant SRO-FT should represent the FinTech sector with membership across entities of all sizes, stages, and activities.
• If representation is inadequate at the time of application, the application should include a roadmap for achieving this within a reasonable timeline.
• Failure to demonstrate or attain comprehensive membership could result in the denial or revocation of recognition

---

3. Why is a business-to-business platform being developed for mutual fund distributors?
A) To exclusively feature Bajaj Finserv mutual fund schemes
B) To compete with other mutual fund distributors
C) To transact with all mutual funds on one platform
D) To limit the offerings to a specific set of financial products
E) To avoid collaboration with other asset management companies
Answer: C) To transact with all mutual funds on one platform

• Bajaj Finserv Asset Management Company plans to launch a one-stop investment platform for mutual fund distributors for facilitating them to make all their online transaction without hassle.
• The platform will feature schemes of all mutual funds and various other financial products of group companies such as fixed deposit, insurance and loans under one roof.
• They have to deal with different AMCs separately and hence a business-to-business platform is being developed for them to transact with all the mutual funds on one platform
• To make the investment process simpler, the fund house will soon start accepting investment through WhatsApp.
• Bajaj Finserv AMC expects the asset under the management of mutual fund industry to touchRs 130 lakh crore in six years from the current Rs 50 lakh crore on back robust economic growth.
• The country’s GDP (Gross Domestic Product) will touch $7.3 trillion by 2030 from $3.8 trillion logged last year.
• This will push GDP per capita to $4,500 by 2030 from $2,450 and leave more money in the hands of people to invest.
• The unique investors count identified by PAN in the industry will touch 12 crore from 4 crore.

---

4. Which two financial institutions have entered into a digital co-lending partnership through the Yubi Co.lend Platform for providing loans to the Indian MSME sector?
A) HDFC Bank and Aditya Birla Finance
B) Karnataka Bank and Clix Capital
C) ICICI Bank and Mahindra Finance
D) Axis Bank and L&T Finance
E) SBI and Bajaj Finserv
Answer: B) Karnataka Bank and Clix Capital

• Karnataka Bank (KBL), a leading private sector bank, and Clix Capital, one of India’s NBFCs, have entered into a digital co-lending partnership through the Yubi Co.lend Platform.
• This partnership is focused on providing loans to the Indian MSME sector, which is one of the biggest contributors to India’s GDP and employment growth.
• The agreement is in line with the Reserve Bank of India’s guidelines on co-lending by banks and NBFCs to priority sectors.
• The partnership combines Karnataka Bank’s low cost of funds, end-to-end digital capabilities, and expertise to offer credit facilities to this segment, along with Clix Capital’s strong and easy lending technology platform and robust due diligence.

Keypersons:

• Rakesh Kaul, CEO, Clix Capital
• Srikrishnan H, Managing Director & CEO, Karnataka Bank

---

Business and Economy – Daily Current Affairs January 16

5. Where is the 19th Centre of the World Economic Forum’s Fourth Industrial Revolution Network (4IR) set to be established?
A) New York
B) London
C) Beijing
D) Hyderabad
E) Tokyo
Answer: D) Hyderabad

• The 19th Centre of the World Economic Forum’s Fourth Industrial Revolution Network (4IR) will be set up in Hyderabad.
• The proposed centre will also be the first centre with a focus on health tech and life sciences and will act as a ‘Life Sciences’ Hot Spot’ in the entire Asia.
• The not-for-profit, autonomous center is expected to take lead in formulation of policies pertaining to healthcare and their implementation.

---

6. What is the specific scope of the project secured by Larsen & Toubro for the Mumbai-Ahmedabad high-speed rail project?
A) Construction of railway stations
B) Design and construction of tunnels
C) Electrification system works
D) Track laying and ballast works
E) Road and bridge construction
Answer: C) Electrification system works

• Larsen & Turbo‘s railway strategic business group has bagged a mega contract valued between Rs 10,000 crore to Rs 15,000 crore for the Mumbai-Ahmedabad high-speed rail project.
• As per the stock exchange filing, the project secured from a Japanese agency is to construct 508 Route Km of high-speed electrification system works (Package No: EW 1) for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, referred to as the Bullet Train Project.
• It includes the scope of designing, manufacturing, supplying, constructing, installing, testing and commissioning of 2 x 25 kV power supply electrification system including traction substations, high-speed overhead equipment and MV/LV power distribution equipment works on lump sum price basis.
• Upon completion, the electrification system will enable trains to travel at speeds of up to 320 KMPH.
• This project is being funded by Japan International Cooperation Agency (JICA) and implemented by a Japanese agency acting on behalf of National High Speed Rail Corporation Ltd (NHSRCL).

Keypersons:

• L&T Chairman & Managing Director Mr S N Subrahmanyan

---

Appointments – Daily Current Affairs January 16

7. Who was appointed as Guatemala’s president?
A) Juan Carlos
B) Jose Rodriguez
C) Bernardo Arévalo
D) Maria Garcia
E) Sofia Hernandez
Answer: C) Bernardo Arévalo

• Bernardo Arévalo was appointed as Guatemala’s president, a turning point in a country where tensions have been simmering over widespread graft and impunity.
• His rise to power, six months after his victory at the polls delivered a stunning rebuke to Guatemala’s conservative political establishment, amounts to a sea change in Central America’s most populous country.

---

Awards – Daily Current Affairs January 16

8. Who is Madison Marsh?
A) A US Air Force veteran
B) A beauty pageant organizer
C) The Miss America 2024
D) A Harvard Kennedy School professor
E) A Texas beauty pageant winner
Answer: C) The Miss America 2024

• Madison Marsh, a 22-year-old US Air Force officer, is the Miss America 2024.
• She is the first active-duty Air Force officer to win the title.
• Madison, a second lieutenant in the US Air Force and master’s student at the Harvard Kennedy School’s public policy program, won the beauty pageant in Orlando, Florida.
• The Miss Colorado 2023 winner is the first-ever active-duty Air Force officer to receive the national title. Meanwhile, Ellie Breaux of Texas is the first runner-up in the beauty pageant.

---

9. Which TV shows were highlighted as big winners at the 75th Emmy Awards?
A) The Lion, The Tiger, The Bear
B) The Elephant, The Rhino, The Lion
C) The Bear, Succession, Beef
D) The Wolf, The Fox, The Bear
E) The Bull, The Chicken, The Lamb
Answer: C) The Bear, Succession, Beef

• “The Bear,” “Succession” and “Beef” were the big winners at the 75th Emmy Awards.
• The award ceremony was held at the Peacock Theater in Los Angeles.
• Some notable first-time winners included Jeremy Allen White and Ayo Edebiri (“The Bear”) and Steven Yeun and Ali Wong (“Beef”).
• Elton John joined the EGOT club — he now has an Emmy, a Grammy, an Oscar and a Tony — when he won the Emmy outstanding variety special for “Elton John Live: Farewell From Dodger Stadium.”

---

National Affairs – Daily Current Affairs January 16

10. Which ministry is planning to sign agreements to set up the world’s largest food grain storage?
A) Ministry of Agriculture
B) Ministry of Food Processing Industries
C) Ministry of Cooperation
D) Ministry of Consumer Affairs
E) Ministry of Rural Development
Answer: C) Ministry of Cooperation

• To set up the world’s largest food grain storage, the ministry of cooperation plans to sign agreements with the Department of Consumer Affairs (DoCA), National Bank for Agriculture and Rural Development (Nabard), National Cooperative Development Corporation (NCDC), and National Cooperative Consumers’ Federation of India Ltd (NCCF).
• The move aims to integrate godowns built at the Primary Agricultural Credit Society (PACS) level with the national food grain supply chain, providing essential market linkages for PACS.
• DoCA will permit NCCF to utilize its warehouses for storing various commodities like pulses, oilseeds, onions, and grains under various government schemes like the Price Support Scheme (PSS) and Price Stabilisation Fund (PSF).
• Nabard is supporting PACS by offering refinanced loans at subsidized rates around 1%, factoring in a 3% interest subvention under the AIF scheme for projects up to Rs 2 crore.
• These cooperatives, when constructing storage facilities, often utilize funds from the government’s Agri Infrastructure Fund (AIF) scheme.
• This initiative is part of the government’s strategy to address the shortage of food grain storage capacity in the country.
• At present, India has a grain storage capacity of about 145 million tonnes, with annual food grain output over 300 million tonnes.
• Over the next five years, India is expected to expand storage capacity to 215 million tonnes.

---

11. Which four states have ranked as the best performing states in the startup ranking for 2022?
A) Gujarat, Kerala, Karnataka, Tamil Nadu
B) Maharashtra, Odisha, Punjab, Rajasthan
C) Telangana, Uttar Pradesh, Haryana, Delhi
D) Madhya Pradesh, Bihar, Jharkhand, West Bengal
E) Andhra Pradesh, Himachal Pradesh, Uttarakhand, Assam
Answer: A) Gujarat, Kerala, Karnataka, Tamil Nadu

• Gujarat, Kerala, Karnataka and Tamil Nadu have ranked as best performing states in the startup ranking for 2022 based on their initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
• Maharashtra, Odisha, Punjab, Rajasthan and Telangana are categorized as top performers.
• The new ranking was released by union commerce minister Piyush Goyal.
• The states and union territories are ranked by the department for promotion of industry and internal trade (DPIIT), a department under commerce ministry.
• According to the DPIIT report, total 33 states and UTs participated in the exercise ranked under five categories — best performers, top performers, leaders, aspiring leaders and emerging startup ecosystems.
• The Startup India initiative was launched by Prime Minister Narendra Modi on 16 January 2016 to build a strong ecosystem for nurturing innovation, boosting startups, and encouraging investments in the startup ecosystem of the country.
• As of now, over 117,000 startups are recognized by the government. All the recognized ones are eligible to seek certain tax incentives.

---

12. What process is NHAI encouraging FASTag users to complete according to RBI guidelines?
A) Toll Payment Process
B) FASTag Renewal Process
C) ‘Know Your Customer’ (KYC) Process
D) Vehicle Registration Process
E) Road Safety Certification Process
Answer: C) ‘Know Your Customer’ (KYC) Process

• NHAI has taken ‘One Vehicle, One FASTag’ initiative that aims to discourage user behaviour of using single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle.
• The highway developer is also encouraging FASTag users to complete ‘Know Your Customer’ (KYC) process of their latest FASTag by updating KYC as per RBI guidelines.
• FASTag users must also comply with ‘One Vehicle, One FASTag’ and discard all the earlier issued FASTags through their respective banks.
• Only the latest FASTag account shall remain active as previous tags will be deactivated/blacklisted after 31st January 2024.
• With penetration rate of around 98% and over 8 crore users, FASTag has revolutionized the Electronic Toll Collection system in the country

National Highway Authority of India:

• The National Highways Authority of India or NHAI is an autonomous agency of the Government of India, set up in 1995 (Act 1988) and is responsible for management of a road network of over 50,000 km of National Highways out of 1,32,499 km in India.
• It is a nodal agency of the Ministry of Road Transport and Highways (MoRTH).
• HQ: Dwarka, Delhi
• Chairman: Santosh Kumar Yadav

---

13. What is the purpose of Operation Amrith launched by the Kerala Drug Control Department?
A) To promote the use of antibiotics
B) To prevent the overuse of antibiotics
C) To regulate the sale of over-the-counter medications
D) To encourage pharmacies to sell antibiotics without a prescription
E) To conduct surprise raids on hospitals
Answer: B) To prevent the overuse of antibiotics

• The Kerala Drug Control Department launched tests in the first week of January 2024 called Operation Amrith (AMRITH – Antimicrobial Resistance Intervention For Total Health) to prevent the overuse of antibiotics in the state.
• Pharmacies must keep accurate records of antibiotic sales as per this initiative.
• Additionally, a poster mentioning ‘antibiotics not sold without doctor’s prescription’ should be displayed in the establishment.
• If not complied, strict action would be taken against pharmacies and medical stores that supply antibiotics without doctor’s prescription.
• Operation Amrith is aimed at conducting surprise raids in retail medical shops for detecting OTC sale of antibiotics and also a Toll Free Number is provided (Toll Free No 18004253182) for lodging complaints against medical shops.
• Once a complaint is received, it will be transferred to the corresponding zonal office for verification and immediate departmental actions will be taken, if violation is detected.

Other Action Plans:

• The Kerala government was the first state in India that came up with the state action plan on AMR, KARSAP, in 2018.
• Aligned with India’s National Action Plan on AMR, Kerala’s plan reflected a multi-sectoral approach.
• Besides human health aspects, it aimed to address animal and environmental dimensions of the AMR problem, which is crucial for effective containment of AMR.
• Delhi-based think tank, Centre for Science and Environment, had actively contributed to the Kerala action plan and has been an implementation partner in the state’s AMR containment efforts.
• The government launched Kerala Antimicrobial Resistance Surveillance Network (KARS-NET) for human use surveillance and developed an integrated AMR surveillance plan in 2018-19 for non-human sector surveillance.
• The Kerala State Pollution Control Board (KSPCB) also inaugurated an AMR laboratory for environmental surveillance of AMR in August 2023.
• For proper disposal of unused antibiotics, the Kerala government has come up with the Programme on Removal of Unused Drugs (PROUD), which is a drug take-back programme piloted in 2019 in the district of Thiruvananthapuram.

Reports by World Bank:

• In 2017, the World Bank estimated that the global increase in healthcare costs are expected to reach up to $1.2 trillion per year by 2050 in a high AMR impact scenario.
• In a similar situation, the world will lose 3.8 per cent of its annual gross domestic product by 2050 and there could be up to 10 million deaths annually, with the most deaths happening in Asia and Africa.

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs January 15