Daily Current Affairs 18th January, 2024

Daily Current Affairs 18 January 2024 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Chhattisgarh Launches Mahtari Vandana Yojana 2024
The state of Chhattisgarh, inspired by the successful implementation of the ‘Aarthik Sarkari Ladli Bahna Yojana‘ organized by the Madhya Pradesh government, has recently launched a new scheme known as Mahtari Vandana Yojana 2024. 

• Under this initiative, the government aims to provide economic assistance of one thousand rupees to women every month, amounting to a total annual financial aid of 12,000 rupees.
• The economic support offered by the Mahtari Vandana Yojana holds immense significance for women in Chhattisgarh. The scheme not only aims to provide financial assistance to women but also emphasizes fostering self-reliance and skill development through the utilization of these funds.

Employees’ Provident Fund Organization (EPFO) removes Aadhaar as valid date of birth proof
The Employees’ Provident Fund Organisation (EPFO) will no longer accept Aadhaar Card as proof of date of birth, the retirement fund body announced. The decision has been made with the approval of the Central Provident Fund Commissioner (CPFC).

• EPFO has followed a directive from the Unique Identification Authority of India (UIDAI). As per UIDAI’s directive (Circular No. 08 of 2023), Aadhaar was being considered as proof for date of birth by several beneficiaries. Aadhaar, while a unique identifier, was not recognized as proof of date of birth according to the Aadhaar Act, 2016. In its directive, UIDAI emphasized that Aadhaar was a proof of identity, not proof of birth.

KVIC launches Khadi Sanatan Vastra from its flagship store in Delhi
Khadi and Village Industries Commission (KVIC) has launched a new range of ‘Sanatan Khadi Vastra’ with 20% discount. Shri Manoj Kumar, Chairman, KVIC launched ‘Sanatan Vastra’ made from Khadi clothes at the flagship Khadi Bhawan in Connaught Place, Delhi. The design of Sanatan Clothing has been prepared at the Khadi Center of Excellence (COEK) located at NIFT.

• To celebrate the launch, KVIC offered a special 20% discount on ‘Sanatan Vastra’ and 10% to 60% on other Khadi and village industry products from January 17 to 25, 2024​​​​​​​​​.
• The manufacturing of Khadi does not involve any mechanical or chemical processes, making Sanatan textiles unique as they are prepared as per traditional Indian methods​​​.

BANKING & FINANCE

LIC overtakes SBI to become most valued PSU 
Life Insurance Corporation of India share price gained more than 2% in morning trades helping its market capitalisation  cross the ₹5.8 Lakh Crore mark as it touched 52 week highs of ₹919.45 a piece.

• LIC market cap thereby surpassed market cap State Bank Of India (SBI) . SBI share price was  down 1% on the BSE while its market cap stood at around ₹5.62 Lakh Crore.
• Shares of LIC are trading at Rs 902.35 per share with a rise of 9.80 points or 1.10 percent. At the same time, SBI shares are trading at Rs 624.40 per share, down 12.50 points or 1.96 percent.

BUSINESS & ECONOMY

TCS 2nd valuable IT services company, Infosys 3rd, Accenture tops the global list
Amid global uncertainty and the advent of new technologies disrupting business models, IT services players have continued to enhance their brand value. Accenture, Tata Consultancy Services (TCS), and Infosys are the top three IT brands, according to the Brand Finance 2024 report.

• Accenture has maintained its position as the world’s most valuable IT services brand, with a brand value of $40.5 billion. TCS, in second place, saw an 11 per cent increase in its brand value to $19.2 billion.
• TCS’s growth has been driven significantly by its consistent brand and marketing investment. The company’s sponsorship of Formula E, particularly its partnership with Jaguar, has not only increased TCS’s visibility among key audiences but also served as a showcase for its capabilities, thereby enhancing its reputation and consideration.

IIT Madras joins hands with Altair to launch eMobility Simulation Lab
The Indian Institute of Technology Madras (IIT) Madras has joined hands with Altair to launch an eMobility Simulation Lab.The new lab will be set up in the Department of Engineering Design of IIT Madras with the financial support of Altair, a global that solutions in simulation, high-performance computing (HPC), and Artificial Intelligence (AI).

• The lab will have state-of-the-art products and tools, which will be followed by other labs and facilities to deliver research and training in the eMobility Domain.
• Additionally, the lab will host Altair’s modeling and simulation tools, thereby supporting the academic activities that IIT Madras will carry out in the other eMobility labs for Batteries, Charging, Power Electronics, Motors and Controllers, and Vehicle Engineering, among other related areas.

L&T bags ‘mega order’ for bullet train project
Larsen & Toubro (L&T)  said that its construction arm has bagged a ‘mega order’ to construct 508 route km of high-speed electrification system for the Mumbai-Ahmedabad bullet train project. The company added that the order has been bagged from an authorised Japanese agency.

• Upon completion, this electrification system will enable trains to travel at speed of up to 320 kilometre per hour.
• The company added that this project is being funded by Japan International Cooperation Agency (JICA) and is being implemented by an authorised Japanese agency acting for and on behalf of National High Speed Rail Corporation Ltd.

Foxconn ties up with HCL for local semicon assembly
Taiwan’s Foxconn Technology Group and India’s HCL Group will form a joint venture (JV) to set up a semiconductor outsourced assembly and testing (OSAT) unit, where Foxconn will hold 40% equity with an investment of $37.2 million, the companies individually confirmed.

• The partnership announcement comes a day after minister of state for electronics and information technology (IT) Rajeev Chandrasekhar said the government has so far received nine proposals for setting up different kinds of semiconductor fabrication units as well as plants that will test the semiconductors made elsewhere in the world.

SPORTS

Rohit Sharma tops list of batters with most hundreds in T20
Indian cricket team captain Rohit Sharma has created history by becoming the first batsman to score five centuries in T20 Internationals (T20Is). This milestone was achieved during the third T20I match against Afghanistan in Bengaluru.

• Rohit Sharma scored an unbeaten 121 runs off 69 balls, which included 11 fours and eight sixes, showcasing his exceptional batting skills.
• His performance was particularly noteworthy as it came after India was reduced to 22/4. Sharma, along with Rinku Singh, who scored 69* off 39 balls, helped India to post a total of 212/4.

APPOINTMENTS

Sue Redfern to become first ICC appointed female neutral umpire for a bilateral series
England’s Sue Redfern is set to become the first ICC-appointed female neutral umpire to stand in a bilateral series during the upcoming WT20I between Australia and South Africa.

• Redfern’s appointment follows the International Cricket Council (ICC) decision to appoint one neutral umpire for all ICC Women’s Championship series as well as any T20I matches scheduled with them, ensuring some neutrality in running matches while also keeping in mind the long-term development of female umpires.

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