Daily Current Affairs January 23

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January 23 | Daily Current Affairs 2024

Important Days – Daily Current Affairs January 23

1. What is celebrated on January 23 every year in honor of Netaji Subhash Chandra Bose?
A) Republic Day
B) Independence Day
C) Parakram Diwas
D) Constitution Day
E) Shaurya Diwas
Answer: C) Parakram Diwas

Event and Location:

• Event: Parakram Diwas celebrated on January 23, 2025, marks the 128th birth anniversary of Netaji Subhash Chandra Bose.
• Date & Location: January 23, 2025; Celebrated across India, with grand events in Kolkata, Netaji’s birthplace.

Mandates and Objectives:

• To honor the legacy and courage of Netaji, one of India’s greatest freedom fighters.
• Highlighting his contributions, including the formation of the Indian National Army (Azad Hind Fauj) and the establishment of the Provisional Government of Free India.
• Inspire citizens by remembering his revolutionary ideas and slogans, such as “Jai Hind” and “Give me blood, and I will give you freedom.”
• Organized events include cultural programs, exhibitions, seminars, and a special parade in Kolkata.

Important Terms Explained:

• Parakram Diwas: Introduced in 2021 to honor Netaji’s bravery and strategic brilliance in the freedom struggle.
• Azad Hind Fauj (Indian National Army): A military force created by Bose in 1943 to overthrow British colonial rule in India.
• Provisional Government of Free India: Established in 1943 by Bose in Singapore to symbolize India’s independence.
• Rani of Jhansi Regiment: One of the first all-women combat regiments, founded by Bose, showcasing his advocacy for women’s empowerment.

Tabular Summary:

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Sports – Daily Current Affairs January 23

2. Who is currently the highest-ranked Indian chess player as per the latest FIDE rankings?
A) Arjun Erigaisi
B) D Gukesh
C) Magnus Carlsen
D) Viswanathan Anand
E) Hikaru Nakamura
Answer: B) D Gukesh

Event and Location:

• Event: D Gukesh becomes the highest-ranked Indian chess player, ranked 4th in the latest FIDE rankings.
• Date & Location: January 23, 2025; New Delhi

Mandates and Objectives:

• D Gukesh, aged 18, surpassed Arjun Erigaisi to claim the 4th position in the global FIDE rankings with 2784 rating points.
• Gukesh displaced Erigaisi, who slipped to 5th with 2779.5 points after struggling in the ongoing Tata Steel Tournament in Wijk Aan Zee, Netherlands.
• This achievement highlights Gukesh’s rapid ascent in the chess world, following his world championship win against Ding Liren in December 2024 in Singapore.
• Norway’s Magnus Carlsen remains the world No.1 with 2832.5 points, followed by Hikaru Nakamura (USA) and Fabiano Caruana (USA) at 2nd and 3rd, respectively.

Important Terms Explained:

• FIDE Rankings: The global chess player ranking system maintained by the Fédération Internationale des Échecs (World Chess Federation).
• Tata Steel Tournament: One of the world’s most prestigious annual chess tournaments held in Wijk Aan Zee, Netherlands.
• 2800 Club: A significant milestone in chess ratings; only elite players have crossed this threshold.

Tabular Summary:

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3. Which country will host the FIDE World Cup 2025 chess tournament?
A) Singapore
B) India
C) Georgia
D) Norway
E) Qatar
Answer: B) India

Event and Location:

• Event: India to host the prestigious FIDE World Cup 2025 chess tournament.
• Date & Location: October 31 to November 27, 2025; India (specific city to be announced).

Mandates and Objectives:

• The FIDE World Cup is a knockout chess tournament where 206 players compete over 8 rounds.
• Top 3 finishers earn spots in the Candidates Tournament, the pathway to challenge for the World Championship title.
• The event is significant for India’s top players, including Arjun Erigaisi, Vidit Gujrathi, and R Praggnanandhaa, who will aim to secure a Candidates spot.

Format Highlights:

• Top 50 seeded players join from the second round.
• Matches include two classical games with colors alternated; unresolved matches proceed to tiebreaks.

Historical Context:

• At the FIDE World Cup 2023, India showcased its strength as R Praggnanandhaa reached the final, defeating players like Arjun Erigaisi, Hikaru Nakamura, and Fabiano Caruana, before losing to Magnus Carlsen.
• India last hosted the FIDE World Cup in 2002 in Hyderabad, where Viswanathan Anand emerged as the champion.
• This event is India’s most prominent chess hosting opportunity since the 2022 Chennai Chess Olympiad.

Other FIDE Events in 2025:

• FIDE Women’s World Cup: July 5–29, 2025, in Batumi, Georgia.
• FIDE World Rapid and Blitz Championship: December 25–31, 2025, in Doha, Qatar.

Important Terms Explained:

• FIDE World Cup: A biennial chess tournament, crucial for qualifying for the Candidates Tournament.
• Candidates Tournament: Determines the challenger for the reigning World Chess Champion.
• Tiebreaks: Shorter-format games used to decide matches that are tied after classical games.

Tabular Summary:

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Ranking – Daily Current Affairs January 23

4. What percentage of the total IT services brand value is contributed by India, as per the Brand Finance 2025 Ranking?
A) 30%
B) 36%
C) 40%
D) 25%
E) 50%
Answer: B) 36%

Event and Location:

• Event: India ranks second globally in IT services brand value, contributing 36% to the total.
• Date: January 21, 2025

Highlights from the Report:

• India’s Contribution:
  • India accounts for 36% of the global IT services brand value, second only to the US, which holds 40%.
• Top Global Trends:
  • The total brand value of the top 25 IT services brands stands at $163 billion.
  • Accenture remains the most valuable IT services brand for the 7th consecutive year.
• India’s Achievements:
  • Tata Consultancy Services (TCS):
    • Brand value grew 11%, surpassing $20 billion.
  • Infosys:
    • Fastest CAGR in brand value at 18% over five years.
  • HCLTech:
    • World’s fastest-growing IT services brand.
• Global Comparison:
  • The report underscores India’s growing dominance in the IT services market through technological innovation and workforce expansion.
  • India’s IT players are poised to benefit from renewed demand as the global market recovers.

Tabular Summary:

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Banking and Finance – Daily Current Affairs January 23

5. Which public sector bank has partnered with Escorts Kubota Ltd to offer tractor financing services, enabling farmers and dealers to access affordable loans?
A) Punjab National Bank
B) State Bank of India
C) Indian Bank
D) Bank of Baroda
E) Canara Bank
Answer: C) Indian Bank

Event and Location:

• Event: Partnership between Indian Bank and Escorts Kubota Ltd to offer tractor financing services.
• Date & Location: January 22, 2025, Chennai

Mandates and Objectives:

• Offer hassle-free and quick financing for tractors to dealers, farmers, and customers.
• Provide affordable loans and working capital for Escorts Kubota Ltd’s full tractor portfolio, including Powertrac, Farmtrac, and Kubota tractors.
• Promote financial inclusion and digitalisation in rural India.

Important Terms Explained:

• Financial Inclusion: Expanding financial services to underserved sections of society, especially rural populations.
• Digitalisation: The use of technology to simplify and improve the efficiency of banking and loan services.
• Working Capital: Short-term financial assistance for day-to-day operations, ensuring smooth business management.

Tabular Summary:

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6. Which bank leads the credit card market in December 2024 with the highest market share?
A) State Bank of India
B) ICICI Bank
C) HDFC Bank
D) Axis Bank
E) Bank of Baroda
Answer: C) HDFC Bank

Event and Location:

• Event: HDFC Bank topped the credit card market, while SBI led in the debit card market.
• Date & Location: December 2024, India

Mandates and Objectives:

• HDFC Bank dominated the credit card market with a 21% market share in December 2024.
• SBI retained its leadership in the debit card market, holding 24% market share.
• Bank of Baroda saw the highest year-on-year growth in credit cards at 31%.
• Axis Bank and Union Bank posted the highest year-on-year growth in debit cards at 14% and 12%, respectively.

Important Terms Explained:

• Market Share: The percentage of total sales or usage within a particular market held by a company.
• Year-on-Year Growth: A metric that shows the percentage increase or decrease in performance compared to the same period in the previous year.
• Embargo: A restriction imposed by an authority, such as the RBI’s embargo on Kotak Mahindra Bank’s credit card business, which impacted its growth.

Tabular Summary:

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7. Which small finance bank has partnered with Ashok Leyland to provide tailored vehicle financing solutions?
A) Ujjivan Small Finance Bank
B) Jana Small Finance Bank
C) ESAF Small Finance Bank
D) Equitas Small Finance Bank
E) Suryoday Small Finance Bank
Answer: C) ESAF Small Finance Bank

Event and Location:

• Event: Ashok Leyland collaborates with ESAF Small Finance Bank for customized vehicle financing solutions.
• Date & Location: January 22, 2025, India

Mandates and Objectives:

• The partnership provides accessible and tailored loan options to Ashok Leyland customers.
• Offers easy repayment plans and end-to-end financial support to commercial vehicle owners.
• Aims to enhance customer experience, promote financial inclusion, and strengthen Ashok Leyland’s light commercial vehicle (LCV) market position.
• ESAF Small Finance Bank will handle the entire financing process, simplifying vehicle ownership for customers.

Important Terms Explained:

• Memorandum of Understanding (MoU): A formal agreement between two or more parties that outlines their partnership goals and responsibilities.
• Financial Inclusion: Providing accessible financial services, especially to underserved sections of society, to promote economic growth and community development.
• Commercial Vehicle (CV): Vehicles used for business purposes, including transportation of goods or passengers.
• LCV (Light Commercial Vehicle): A subcategory of commercial vehicles designed for small-scale businesses or individual transport needs.

Tabular Summary:

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8. According to the new RBI guidelines, what must Asset Reconstruction Companies (ARCs) establish to govern borrower dues settlement?
A) Risk Management Policy
B) Independent Advisory Committee
C) Board-Approved Policy
D) Legal Compliance Team
E) Credit Risk Assessment Team
Answer: C) Board-Approved Policy

Event and Location:

• Event: RBI issues new rules mandating stricter oversight on ARC-borrower settlements.
• Date & Location: January 20, 2025; New Delhi

Mandates and Objectives:

• Board-Approved Policy:
  • Every ARC must establish a policy approved by its Board of Directors to govern borrower dues settlements.
  • Policy must include:
    • Eligibility criteria for one-time settlements.
    • Sacrifices permissible based on exposure categories.
    • Methodologies to determine the realisable value of securities.
• Independent Advisory Committee (IAC):
  • Mandatory for borrowers with dues exceeding ₹1 crore.
  • IAC comprises experts in technical, financial, or legal fields, assessing the borrower’s financial position and recovery prospects before making recommendations.
• Board Oversight:
  • ARC Boards, including at least two independent directors, must deliberate on IAC’s recommendations, consider alternative recovery options, and document the rationale for decisions.
• Preventing Conflicts of Interest:
  • Officials involved in acquiring financial assets cannot participate in settlement approvals.
  • Quarterly Board reviews of trends and recovery timelines are required.
• High-Value and Fraud Cases:
  • Settlements involving wilful defaulters or frauds are subject to stringent procedures, ensuring no leniency or prejudice to ongoing criminal proceedings.

Important Terms Explained:

• Asset Reconstruction Company (ARC):
  • A company that acquires non-performing assets (NPAs) from banks and financial institutions to recover the dues.
• Wilful Defaulter:
  • A borrower who deliberately avoids repaying loans despite having the means to do so.
• Realisable Value of Securities:
  • The value that can be recovered from collateral or pledged assets.

Tabular Summary:

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9. According to the Kiwi 2024 report, how many transactions per month do users of UPI-enabled credit cards make compared to traditional credit card users?
A) Four times higher
B) Six times higher
C) Eight times higher
D) Ten times higher
E) Same as traditional credit cards
Answer: C) Eight times higher

Event and Location:

• Event: UPI-enabled credit card transactions surpass traditional credit card usage by eight times.
• Date & Context: January 23, 2025; Insights from Kiwi 2024 report

Key Highlights:

1. Usage Statistics:
   • Users of UPI-enabled credit cards make an average of 40 transactions per month, compared to traditional credit card users.
   • Average transaction size:
     • UPI-enabled credit cards: ₹1,125 (ideal for everyday purchases).
     • Traditional credit cards: ₹4,000.
   • Monthly spending per user has risen to ₹40,000, growing by 5% monthly.
2. Demographics:
   • Young users dominate adoption:
     • 45% below 30 years of age.
     • 30% between 31–40 years.
     • 20% between 41–50 years.
   • Metro cities lead adoption: Bengaluru, Hyderabad, Delhi, and Mumbai.
   • Among non-metro cities, Pune tops adoption, followed by Ahmedabad, Jaipur, Indore, and Chandigarh.
3. Impact on Small Merchants:
   • 75% of transactions occur at small stores like grocery shops and local retailers, significantly benefiting small merchants.
4. Infrastructure Expansion:
   • UPI extends credit accessibility to 320 million merchant touchpoints, far surpassing the 9 million POS terminals used by traditional credit cards.
   • In 2024, 50% of new credit cards issued were virtual, driven by the rise of UPI-enabled cards.
5. Rupay Credit Card Growth:
   • Rupay’s market share rose from 3% in 2023 to 12% in 2024, driven by UPI-enabled credit card adoption.
   • Supported by the RBI’s June 2022 approval for integrating UPI with NPCI’s Rupay credit cards.

Tabular Summary:

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10. How many Regional Rural Banks (RRBs) will exist after the consolidation under the One State – One RRB policy?
A) 43
B) 28
C) 35
D) 26
E) 40
Answer: B) 28

Event and Location:

• Event: The Government of India consolidates 43 Regional Rural Banks (RRBs) into 28 under the One State – One RRB policy.
• Date: January 20, 2025

Mandates and Objectives:

• The consolidation of RRBs is aimed at:
  • Improving financial stability and operational efficiency.
  • Achieving synergy, stronger capital base, and pooling of resources.
  • Enhancing the technological capabilities of RRBs to serve rural and semi-urban areas better.

Historical Context:

• The consolidation began in 2004–05 based on the Vyas Committee (2001) recommendations.
• Originally, there were 196 RRBs, reduced in three phases to 43 RRBs by 2021.

Current Statistics (March 31, 2024):

• Deposits: ₹6.61 lakh crore.
• Loans & Advances: ₹4.45 lakh crore.
  • Majority to agriculture (77.46%), micro-enterprises (14.1%), and housing sectors (6.37%).
• CASA Ratio: 54.4% (indicating low-cost funds).
• Net NPAs: Reduced to 2.4% from 5.9% in March 2020.
• Net Profit: ₹7,571 crore in FY2023–24, with Southern region RRBs contributing ₹3,816 crore.

Challenges Faced by RRBs:

• Lack of skilled manpower.
• Weak loan recovery mechanisms.
• Absence of advanced risk management systems.
• Fraud and governance issues.

Future Roadmap:

• Focus on technology upgradation, cybersecurity, and governance reforms.
• Introduction of special recovery drives for high NPA regions like Bihar (23.8% Gross NPA).
• Conversion of RRBs into wholly owned subsidiaries or strategic business units under sponsoring banks.
• Encouraging RRBs to tap capital markets for expansion.

Tabular Summary:

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Business and Economy – Daily Current Affairs January 23

11. What is the projected GDP growth rate for India in FY2024-25 according to FICCI’s Economic Outlook Survey?
A) 7.0%
B) 6.4%
C) 8.2%
D) 5.9%
E) 6.8%
Answer: B) 6.4%

Event and Location:

• Event: FICCI forecasts India’s GDP growth at 6.4% for FY2024-25.
• Date & Context: January 16, 2025; based on FICCI’s Economic Outlook Survey conducted in December 2024.

Key Economic Projections for FY2024-25:

• GDP Growth: Revised to 6.4%, down from the earlier 7.0% projection (September 2024) and lower than the 8.2% growth achieved in FY2023-24.
• CPI Inflation: Estimated at 4.8%, aligning with the RBI’s December 2024 forecast.

Sectoral Growth:

• Agriculture and Allied Activities: 3.6%
• Industry: 6.3%
• Services: 7.3%

Factors Influencing Economic Outlook:

• Positive Drivers:
  • Government-led investments in infrastructure, housing, and logistics.
  • Recovery in consumer spending, aided by agriculture and rural consumption.
  • Opportunities in manufacturing, electronics, and pharmaceuticals due to global supply chain diversification.
• Challenges:
  • Subdued private capital expenditure due to geopolitical uncertainties.
  • Trade and climate-induced disruptions, impacting growth momentum.

Policy Recommendations from Economists:

• Reviving private consumption by reviewing tax structures to boost disposable income.
• Increased investments in welfare schemes like MGNREGA, PMGSY, and PMAY.
• Strengthening supply chain efficiency and boosting cold storage capacity to reduce food wastage and manage inflation.

Global Context:

• Resilience in the global economy despite geopolitical tensions and trade uncertainties.
• Recovery in interest-sensitive sectors due to softening inflation and easing monetary policies in advanced economies.

Tabular Summary:

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Appointments – Daily Current Affairs January 23

12. Who has recently been appointed as the Executive Director of Dhanlaxmi Bank?
A) P. Suriaraj
B) Ramesh Bais
C) Debadatta Chand
D) Shanti Lal Jain
E) Nikhil Nanda
Answer: A) P. Suriaraj

Event and Location:

• Event: P. Suriaraj takes charge as the Executive Director of Dhanlaxmi Bank.
• Date & Location: January 23, 2025; Thrissur, Kerala

Mandates and Objectives:

• Appointed by the Reserve Bank of India (RBI) for a tenure of three years.
• Aims to leverage his 37 years of banking experience to strengthen the operations of Dhanlaxmi Bank.
• His expertise spans Integrated Treasury, HR, Recovery, Planning and Resource Mobilization, Operations and Services, Inspection, and Accounts.

Important Terms Explained:

• Executive Director (ED): A key leadership position in a bank responsible for overseeing strategic operations and ensuring compliance with regulatory frameworks.
• Integrated Treasury: Management of funds and investments to optimize earnings while minimizing risks.

Tabular Summary:

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13. Who has been appointed as the Executive Director and CEO of Reliance Power Limited in January 2025?
A) Gopal Vittal
B) Rajeev Jain
C) Neeraj Parakh
D) Shrikant Sharma
E) Shashank Goel
Answer: C) Neeraj Parakh

Event and Location:

• Event: Neeraj Parakh appointed as the Executive Director and CEO of Reliance Power Limited.
• Date & Location: January 21, 2025; New Delhi

Mandates and Objectives:

• Appointment Details:
  • Effective from January 20, 2025, for a tenure of three years, subject to shareholder approval.
  • Approved by the Board of Directors during a company meeting.
• Professional Background:
  • Over 29 years of professional experience, with 20+ years at Reliance Group.
  • Played a key role in planning, project monitoring, technical services, operations, procurement, and taxation.
  • Contributed to large-scale thermal and renewable energy projects generating 10 GW of power with an investment of ₹50,000 crore.
• Education:
  • Engineering graduate from YCCE Nagpur.
  • MBA from Welingkar Institute, Mumbai.

Significance:

• Parakh’s leadership has focused on technology selection, vendor localization, and sustainability.
• Reduced the company’s reliance on imports and improved operational efficiency.

Tabular Summary:

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Science and Technology – Daily Current Affairs January 23

14. Which company is set to invest ₹500 crore in Telangana to establish a private rocket manufacturing, integration, and testing facility?
A) ISRO
B) Agnikul Cosmos
C) Skyroot Aerospace
D) Bellatrix Aerospace
E) Pixel India
Answer: C) Skyroot Aerospace

Event and Location:

• Event: Skyroot Aerospace to establish the largest private rocket manufacturing, integration, and testing facility in Telangana.
• Date & Context: January 22, 2025; announced during the World Economic Forum (WEF) in Davos, Switzerland.

Key Highlights:

1. Investment Details:
   • Investment Amount: ₹500 crore.
   • One of the largest private sector investments in rocket manufacturing.
2. Facility Objectives:
   • Establish an integrated rocket manufacturing, integration, and testing facility.
   • Strengthen India’s private space sector capabilities.
3. Significance:
   • Boosts Telangana’s position as a space-tech hub.
   • Aligns with the TelanganaRising and HyderabadRising vision.
4. Leadership Remarks:
   • Telangana CM A. Revanth Reddy welcomed the investment, praising the young minds driving cutting-edge technology in Telangana.
   • Pawan Kumar Chandana, Co-founder of Skyroot Aerospace, expressed optimism about Telangana’s future and the state’s support for innovation.

Tabular Summary:

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Defence – Daily Current Affairs January 23

15. Which Indian Navy ship completed the hydrographic survey of over 25,000 sq. nautical miles of Mauritius?
A) INS Viraat
B) INS Sarvekshak
C) INS Shardul
D) INS Sumedha
E) INS Tarkash
Answer: B) INS Sarvekshak

Event and Location:

• Event: INS Sarvekshak completes the final phase of the hydrographic survey of Mauritius.
• Date & Location: January 23, 2025; Mauritius

Mandates and Objectives:

• Survey Details:
  • Covered an area of over 25,000 sq. nautical miles.
  • Included creating new nautical charts, providing survey equipment, and comprehensive hydrographic data.
• Significance:
  • Supports maritime infrastructure development in Mauritius.
  • Facilitates resource management and coastal development planning.
  • Reflects the partnership between India and Mauritius in fostering regional maritime cooperation.
• Handover Ceremony:
  • Survey data was officially handed over to Mauritius President Dharambeer Gokhool by the High Commissioner of India, Anurag Srivastava.

Important Terms Explained:

• Hydrographic Survey: A scientific process of mapping and measuring underwater features for safe navigation, resource exploration, and maritime planning.
• Nautical Charts: Maps specifically designed for navigation, showing sea depths, coastlines, and other critical maritime information.

Tabular Summary:

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International Affairs – Daily Current Affairs January 23

16. Which country remained the top destination for India’s engineering goods exports in December 2024?
A) Saudi Arabia
B) United States
C) France
D) Sri Lanka
E) South Africa
Answer: B) United States

Event and Location:

• Event: The US remained the top destination for India’s engineering goods exports in December 2024.
• Date & Location: January 23, 2025; New Delhi

Mandates and Objectives:

• Engineering goods exports to the US grew 5% year-on-year to $1.64 billion in December 2024.
• During the April-December 2024-25 period, exports to the US rose by 7%, reaching $13.97 billion.
• Total engineering goods exports in December 2024 were $10.84 billion, growing 8.35% year-on-year.
• The share of engineering goods in India’s total exports rose to 28.53% in December 2024 from 26.07% in December 2023.

Key Highlights:

• The West Asia and North Africa (WANA) region accounted for 20.8% of India’s total engineering exports in December 2024, making it the top region.
• North America accounted for 19.1%, and the European Union contributed 17.1%.
• Significant growth was seen in exports to countries like France, Saudi Arabia, South Africa, and Sri Lanka.
• Despite consistent growth, concerns remain about the impact of protective measures by developed nations, particularly the US, and potential trade wars, as highlighted by UNCTAD and EEPC India Chairman Pankaj Chadha.

Important Terms Explained:

• Engineering Goods Exports: Products like machinery, industrial tools, and equipment exported to foreign markets.
• UNCTAD: United Nations Conference on Trade and Development, which monitors global trade and economic trends.
• Protective Measures: Trade policies like tariffs or quotas imposed by countries to protect their domestic industries.
• WANA Region: Refers to West Asia and North Africa, including countries like Saudi Arabia, UAE, and Egypt.

 Tabular Summary:

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National Affairs – Daily Current Affairs January 23

17. Which ministry is organizing the 2nd edition of Lok Samvardhan Parv from January 27 to February 2, 2025?
A) Ministry of Culture
B) Ministry of Tourism
C) Ministry of Minority Affairs
D) Ministry of Tribal Affairs
E) Ministry of Rural Development
Answer: C) Ministry of Minority Affairs

Event and Location:

• Event: 2nd edition of Lok Samvardhan Parv organized by the Ministry of Minority Affairs.
• Date & Location: January 27 – February 2, 2025, at State Emporia Complex, Baba Kharak Singh Marg, Connaught Place, New Delhi

Mandates and Objectives:

• Showcase and promote India’s diverse arts, crafts, and culinary traditions.
• Provide a platform for 90 artisans from across India to display and sell their unique crafts, including:
  • Ajrak Print Saree Dupatta (Maharashtra)
  • Banaras Brocade (Uttar Pradesh)
  • Cane & Bamboo (Assam)
  • Channapatna Toys (Karnataka)
  • Kantha Stitch (West Bengal)
  • Crewal Sozni, Kashmiri Shawls (Jammu & Kashmir)
  • Kosa Silk Saree Handloom (Maharashtra), etc.
• 16 culinary experts will represent Indian cuisines such as Lucknawi Zaika, Gujarati Rasoi, Parsi Cuisine, and Punjabi Tadka.
• Host cultural evenings from Friday to Sunday, showcasing the cultural heritage of minority communities.

Important Terms Explained:

• Lok Samvardhan Parv: An inclusive event organized by the Ministry of Minority Affairs to promote cultural diversity and empower artisans and craftsmen belonging to minority communities.
• Inclusive Development: Ensuring that benefits of government initiatives reach all sections of society, particularly underrepresented groups.

Tabular Summary:

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18. Which Indian state secured investments worth ₹15.7 lakh crore at the World Economic Forum 2025 in Davos?
A) Gujarat
B) Karnataka
C) Maharashtra
D) Tamil Nadu
E) Andhra Pradesh
Answer: C) Maharashtra

Event and Location:

• Event: Maharashtra secures ₹15.7 lakh crore investments at the World Economic Forum (WEF) 2025 in Davos.
• Date & Location: January 24, 2025, Davos, Switzerland

Mandates and Objectives:

• The Maharashtra government signed 54 MoUs, attracting investments across multiple sectors, with an estimated job creation of over 4 lakh jobs.
• Key MoUs include:
  • Reliance Industries Ltd (RIL): ₹3,05,000 crore investment spanning sectors like petrochemicals, polyester, renewable energy, and green hydrogen, expected to generate 3,00,000 jobs.
  • Amazon: ₹71,795 crore for data centres in the Mumbai Metropolitan Region, creating 83,100 jobs.
  • Blackstone: ₹43,000 crore in the infrastructure sector.
  • Vardhaan Lithium: ₹42,535 crore in the electronics sector, generating 5,000 jobs.
  • Indorama: ₹31,200 crore in the textile sector, creating 4,000 jobs.
  • L&T Defence: ₹10,000 crore in Talegaon, generating 2,500 jobs.
  • Renaissance Solar & Electronic Materials: ₹5,000 crore in green energy, creating 1,300 jobs.
  • Greta Energy: ₹10,319 crore investment in Chandrapur, generating 7,000 jobs.

Significance:

• These investments will bolster Maharashtra’s industrial and economic growth, especially in sectors like renewable energy, infrastructure, textiles, and electronics.
• The agreements reflect the state’s attractiveness as an investment destination, supporting Chief Minister Devendra Fadnavis’ “Magnetic Maharashtra” campaign.

Important Terms Explained:

• World Economic Forum (WEF): An annual global event held in Davos, Switzerland, where political, business, and academic leaders discuss global economic trends and challenges.
• Green Hydrogen: A clean energy source produced by splitting water into hydrogen and oxygen using renewable energy.
• Data Centres: Facilities housing computer systems and associated infrastructure to process and store large volumes of data.

Tabular Summary:

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19. What is the financial outlay for the PM Vishwakarma Yojana for the five-year period FY24–FY28?
A) ₹10,000 crore
B) ₹12,000 crore
C) ₹13,000 crore
D) ₹15,000 crore
E) ₹20,000 crore
Answer: C) ₹13,000 crore

Event and Location:

• Event: Concerns raised over high rejection rates in the PM Vishwakarma Yojana.
• Date & Location: January 21, 2025; New Delhi

Mandates and Objectives:

• Launched by Prime Minister Narendra Modi on September 17, 2023, during Vishwakarma Jayanti.
• Fully funded by the Union Government with a financial outlay of ₹13,000 crore for FY24–FY28.
• Targets the informal workforce, especially artisans practicing traditional crafts like blacksmithing, goldsmithing, pottery, carpentry, and sculpting.

Rejection Concerns:

• 13–14% rejection rate due to:
  • Previous government loans, such as under the PMEGP (Prime Minister’s Employment Generation Programme).
  • Applicants with non-performing asset (NPA) history.
• Banks’ Response: Conducting detailed data analyses to identify potential candidates despite prior delinquencies.

Progress as of January 8, 2025:

• Applications received: 820,000
• Sanctioned: 220,000
• Disbursed: 160,000

Key Benefits of the Scheme:

• Provides artisans access to tooling facilities, training programs, and market integration into domestic and global value chains.
• Supports micro, small, and medium enterprises (MSMEs) with tailored consultancy services.

Tabular Summary:

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20. How much investment was allocated for the capacity expansion projects at Jawaharlal Nehru Port (JNPA) launched by Union Minister Sarbananda Sonowal in January 2025?
A) ₹1,000 crore
B) ₹1,500 crore
C) ₹2,000 crore
D) ₹2,500 crore
E) ₹3,000 crore
Answer: C) ₹2,000 crore

Event and Location:

• Event: Union Minister Sarbananda Sonowal launches ₹2,000 crore capacity expansion projects at Jawaharlal Nehru Port (JNPA), Mumbai.
• Date & Location: January 22, 2025; Jawaharlal Nehru Port, Mumbai

Key Highlights of the Projects:

• Major Initiatives Launched:
  • Solar-powered boat, two 70T indigenously developed tugs, and three fire tenders to enhance port safety and efficiency.
  • Commissioning of Bharat Mumbai Container Terminal (BMCT) Phase II, adding 2.4 million TEUs to JNPA’s capacity.
  • Upgradation of Nhava Sheva Freeport Terminal (NSFT) to further boost capacity.
• Agro Processing Facility:
  • Investment: ₹284 crore, spanning 27 acres within the port complex.
  • Designed to handle 1.2 million tonnes of cargo annually, offering services like sorting, packing, and laboratory testing.
• Warehousing Facility:
  • Investment: ₹300 crore for ambient and temperature-controlled warehousing and Container Freight Station (CFS).
  • Expected capacity: 1,20,000 TEUs annually.
• Additional Infrastructure Projects:
  • Development of Port Facilitation Centre and Business Facilitation Centre.
  • Bhoomi Pujan for a CBSE School building to promote community education.

JNPA Achievements and Projections:

• 2024 Performance: Handled 7.05 million TEUs at over 90% capacity.
• Projected Capacity by 2027: 10 million TEUs.
• JNPA SEZ Highlights:
  • 124 hectares allotted to 54 units; 10 units operational.
  • Engages in warehousing, food processing, manufacturing, and trading.

MoUs Signed:

• ₹645 crore investment by VPPL and Reliance Industries for Liquid Jetty development at Vadhavan Port under PPP model.
• HUDCO Partnership: ₹25,000 crore funding commitment for port and infrastructure projects.

Significance:

• Expands India’s marine sector capacity, supporting diverse trade volumes like textiles, electronics, and agriculture.
• Aligns with PM Modi’s vision of empowering ports to become growth drivers for India’s economy.

Tabular Summary:

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Over All Review

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