Monthly Current Affair GK Digest: February 2024

International News

The partnership will lead to the opening of a Collaborative Centre for Translational Research in Head-Neck Cancer (HNC), located at the National Cancer Institute at AIIMS’ New Delhi Jhajjar Campus.
This collaboration aims to deliver research and education programs that will revolutionize the care of HNC patients in the UK, India, and globally.
The initiative builds upon the pre-existing collaboration and links between the Liverpool Head and Neck Centre (LNHC), University of Liverpool (UOL), and the Head and Neck Cancer unit at AIIMS New Delhi.

The temple was built by the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) and cost around ₹700 crore.
The construction of the temple followed the ancient style of creation mentioned in the Shilpa and Sthapathya Shastras, Hindu scriptures which describe the art for mandir design and construction.
The temple is equipped with over 300 high-tech sensors to measure temperature, pressure, and movement (seismic activity), providing live data for research.
The temple was constructed with 18 lakh bricks, seven lakh man hours, and 1.8 lakh cubic metres of sandstone sourced directly from Rajasthan.

The river diversion will enable isolation of the dam area at the river bed, which is a critical step for starting the excavation and construction of the dam.
This move is expected to expedite project construction activities and help in minimizing delays, facilitating all efforts to meet the scheduled commissioning date of May 2026.
The Ratle Project is being executed by Ratle Hydroelectric Power Corporation Limited (RHPCL), a Joint Venture of NHPC Limited and the Government of J&K, with a shareholding of 51:49 percent, respectively.
The project was sanctioned by the Cabinet Committee on Economic Affairs in January 2021, at a total cost of Rs. 5281.94 crores.

India is on the move and is moving fast.
The growing economy and increasing income are expected to boost confidence in the mobility sector.
The speed and scale of the government have changed the definition of mobility in India.
The government is addressing the concerns of truck drivers and their families. A new scheme is being launched to construct 1000 modern buildings with facilities for food, clean drinking water, toilets, parking, and rest for drivers on all national highways.
The Prime Minister also expressed satisfaction over the progress made in battery and electric vehicles during his second term and predicted that mobility will reach new heights in his third term.
The Bharat Mobility Global Expo 2024 showcases India’s capabilities across mobility and automotive value chains.

This was due to "persistent non-compliance" and "material supervisory concerns" identified by the RBI.
Here are some key points to remember:

Effective date: The restriction on deposits and credit transactions took effect on March 1, 2024.
Reason for the ban: The RBI cited non-compliance with regulations and supervisory concerns identified in an external audit report.
What's affected: PPBL cannot accept new deposits, top-ups, or carry out credit transactions in any customer accounts, wallets, FASTags, etc. However, withdrawals and utilization of existing balances are permitted.
Future of PPBL: The current status of PPBL is unclear. The future course of action will depend on how PPBL addresses the RBI's concerns and seeks regulatory approval.

This is slightly lower than the estimated Rs 1.04 lakh crore that the government is set to earn in the current fiscal year.
The increase in the current fiscal year’s estimate is due to the RBI paying a dividend of Rs 87,416 crore in May last year.
In addition to the dividends from the RBI and public sector banks, the government also expects to receive dividends from Central Public Sector Enterprises (CPSEs).
The total dividend income from the RBI, public sector banks, and CPSEs is projected to be Rs 1.50 lakh crore for the next financial year.
This higher dividend income, along with improved tax mobilisation, is expected to help the government achieve its fiscal deficit glide path.
The government aims to reduce the fiscal deficit to below 4.5% by 2025-26 from 5.1% of GDP in 2024-25.

Revised Norms for UCBs Inclusion in Second Schedule, RBI Act, 1934: The RBI has revised the eligibility norms for the inclusion of Urban Co-operative Banks (UCBs) in the Second Schedule to the RBI Act, 1934. The new norms are in line with the Revised Regulatory Framework. The eligibility criteria for UCBs now include a Capital to Risk (Weighted) Assets Ratio (CRAR) that is 3% above the minimum requirement, and no major regulatory concerns. These revised instructions are applicable to all Commercial Banks (including RRBs) and all Co-operative Banks and shall come into effect from April 1, 2024.
Advance Payment for Gold Import via IIBX by TRQ Holders: The RBI has allowed Tariff Rate Quota (TRQ) holders under the India-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) to remit advance payment for eleven days for the import of gold through the India International Bullion Exchange IFSC Ltd (IIBX) against the TRQ. This decision is aimed at facilitating the import of gold by TRQ holders.

This digest is not complete. Read the complete digest on the General Awareness Course.