Professional Documents
Culture Documents
170773481439
170773481439
• The Reserve Bank of India (RBI), in the exercise of powers conferred on it under
Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the
Certificate of Registration of 3 non-banking finance companies (NBFC).
These 3 NBFCs are
1. Bharathu Investment & Finance India
2. Cox & Kings Financial Service
3. PSPR Enterprises Private Limited.
• In a separate notification, RBI stated that 9 NBFCs and 1 housing finance company
surrendered their licence. Reliance Home Finance Ltd surrendered its licence after
exiting the Housing Finance Institution business.
• Among the 9 NBFCs, S.M.I.L.E. Microfinance, JFC Impex Pvt Ltd, Cauvery
Tradefin Pvt Ltd, and Ginni Tradefin Ltd, surrendered their licence after exiting from
business.
• JG Trading & Investment Pvt Ltd, SK Finserve Pvt Ltd, Microfirm Capital Pvt Ltd,
Bohra & Co Pvt Ltd, and Mahyco Grow Finance Pvt Ltd surrendered their licence
as they ceased to be legal entities after amalgamation/ merger/dissolution/ voluntary
strike-off, etc.
What is a Non-Banking Financial Company (NBFC)?
• A Non-Banking Financial Company (NBFC) is a company registered under the
Companies Act, 1956 engaged in the business of loans and advances, acquisition of
shares/stocks/bonds/debentures/securities issued by Government or local authority or
other marketable securities of a like nature, leasing, hire-purchase, insurance
business, chit business but does not include any institution whose principal business
is that of agriculture activity, industrial activity, purchase or sale of any goods (other
than securities) or providing any services and sale/purchase/construction of
immovable property.
Recent News :
• In July 2023, The Reserve Bank of India (RBI) cancelled the certification of
registration of 4 non-banking finance companies (NBFC) two from Telangana and
one each from Kerala and Uttar Pradesh.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
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Daily Current Affairs
11th & 12th February 2024
NATIONAL NEWS
UNION MINISTER DHARMENDRA PRADHAN INAUGURATES THE NEW DELHI
WORLD BOOK FAIR
• Union Minister of
Education and Skill
Development &
Entrepreneurship, Shri
Dharmendra Pradhan
inaugurated the New
Delhi World Book Fair
at Bharat Mandapam,
New Delhi.
• Inaugurating the 52nd
edition of the New Delhi
World Book Fair Shri Pradhan highlighted that this year's theme of the fair
‘Multilingual India: A Living Tradition’ is celebrating India’s linguistic diversity and
global literary traditions.
• Shri Dharmendra Pradhan launched the app of the National Digital Libraries for All,
announced in the Budget 2023-34.
• National e-library ( राष्ट्रीय e-पस्
ु तकालय) is a first-of-its-kind digital library for accessing
a variety of non-academic books for Children and Adolescents based on the Prime
Minister Shri Narendra Modi’s vision statement, “When citizens read, the country
leads.”
• The राष्ट्रीय e-पुस्तकालय for Children and Adolescents shall provide accessibility in a
device agnostic manner to age appropriate reading material for 4 different age groups
- 3-8 years, 8-11 years, 11-14 years, and 14-18 years.
• Books in the राष्ट्रीय e-पस्
ु तकालय will focus on the history, culture, scientific and other
achievements of India to develop a sense of pride amongst young Indiansand shall
contain books from all the 23 (twenty-three) languages under the Eighth Schedule to
the Constitution of India, apart from English.
• Shri Pradhan also unveiled the innovative learning E-learning platform, ‘E-Jaadui
Pitara’, which is in line with the National Education Policy (NEP) 2020, comprises
puzzles, riddles, and stories tailored for children between the age group of 3-8 years.
• The inclusive and informative content, translated into 22 languages using Artificial
Intelligence (AI) aims to transform early childhood education.
• Shri Pradhan also released the Hindi and English Braille editions of the book Exam
Warriors penned by Prime Minister Shri Narendra Modi and published by NBT-India.
• As per tradition, with a country as the Guest of Honour at NDWBF - this year the
Kingdom of Saudi Arabia is the esteemed Guest Country, fostering cultural exchange,
literary discourses, and dialogues between the two nations.
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11th & 12th February 2024
STATE NEWS
Uttarakhand Assembly passes UCC Bill; becomes India's 1st state to implement
Uniform Civil Code
• The Uttarakhand state Assembly passed the Uniform Civil Code (UCC) Bill,
marking it as the first state in India post-independence to adopt a UCC.
Key Highlights :
• Committee and Report Submission : The report on the UCC was submitted to the
Chief Minister by Ranjana Desai, a retired judge of the Supreme Court and
chairperson of the Committee.
• Applicability and Equality : The UCC is applicable to all persons irrespective of
religion.
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• It offers a succession
scheme similar to the
Indian Succession Act
(ISA), ensuring equal
shares for the spouse,
children, and parents of a
deceased person without a
will.
• Repeal of Inconsistent
Laws : The UCC repeals
inconsistent existing laws.
• It recognises children from
live-in relationships as
legitimate with equal rights.
• Prohibits polygamy and
imposes a ₹25,000 fine for
not registering a marriage.
• Criminalization and
Acknowledgment :
Additionally, it criminalizes
various forms of divorce and acknowledges Mehr and Dower alongside maintenance
payments.
• Implications for Different Communities : The UCC has distinct implications for
different communities- it removes the 1/3rd limit on succession for the Muslim
Community, treating male and female heirs equally, contrary to traditional Sharia law.
• For the Hindu Community, it does not confer coparcenary rights, applying the same
succession scheme to both ancestral and self-acquired property across genders.
• For the Christian Community, it changes the hierarchy of inheritance rights, allowing
both parents to inherit property together.
• Goa's Current Status : Goa is currently the only state in India with a uniform civil
code.
• The Portuguese Civil Code of 1867, implemented after India annexed the territory in
1961, applies to all Goans, irrespective of their religious or ethnic community.
• Constitutional Basis : Article 44 of the Constitution lays down that the State shall
endeavour to secure a Uniform Civil Code for the citizens throughout the territory of
India.
• Article 44 is one of the Directive Principles mentioned in Part-IV of the Constitution.
About Uttarakhand :
• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami
• National Park : Corbett National Park, Rajaji national Park, Gangotri National Park,
Nanda Devi National Park
• Wildlife Sanctuary : Kedarnath Wildlife Sanctuary, Govind WildLife Sanctuary, Binsar
WildLife Sanctuary
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11th & 12th February 2024
Tamil Nadu Micro, Small, and Medium Enterprises Minister TM Anbarasan Launches
'Smart Card' Initiative for Startups
• Tamil Nadu (TN) Micro,
Small, and Medium
Enterprises (MSME)
Minister TM Anbarasan
launched the 'Smart
Card' initiative for
startups.
Key Highlights :
• Discounted Products
and Services : The
Smart Card offers a wide
selection of products and services at discounted rates, specifically tailored to meet the
needs of startups in their early stages.
• Categories of Products and Services : The products and services are broadly
classified into 6 different categories: Legal & Compliance, Marketing/Business
Consulting, Finance & Insurance, HR & Smart Workspace, Software, and
IT/ITES.
• Equity Investment for SC/ST Entrepreneurs : During the event, four startups run by
entrepreneurs from SC and ST communities were sanctioned ₹9.05 crore as equity
investment under the Tamil Nadu SC/ST Startup Fund.
• Support for Women Entrepreneurs : Products and services of 20 startups run by
women entrepreneurs were also launched under the Women Launchpad initiative.
• Launchpad is a platform designed to help startups gain initial offline and online market
traction for their new brands and products on a public platform.
• Open Innovation Portal : In addition, the Open Innovation Portal was also launched,
which aims to connect corporates/government agencies with innovators, startups, and
researchers.
About Tamil Nadu :
• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National
Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary,
Vedanthangal Bird Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve
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11th & 12th February 2024
BUSINESS NEWS
HPCL’s Rs 73,000-crore Rajasthan refinery likely to start operations by January 2025
• Public sector refiner and fuel
retailer Hindustan Petroleum
Corporation (HPCL) plans to
start commercial production of
fuels at India’s newest
refinery in Rajasthan’s
Barmer city by January
2025.
• The refinery-cum-
petrochemicals complex,
being built at a cost of
nearly Rs 73,000 crore, will
have a crude processing
capacity of 9 million tonnes
per annum (mtpa) and is
expected to cater to the
rapidly rising fuel demand in
the northern parts of India.
• The refinery has achieved 76 per cent mechanical completion and the first refined
products are likely to start flowing from the facility by December 2024 or January
2025.
• HPCL’s Rajasthan refinery will be the first refinery to be commissioned in India since
the Indian Oil Corporation’s (IOC) 15-mtpa unit in Odisha’s Paradip.
• The Rajasthan refinery will also be the first refinery to come on stream since
Prime Minister Narendra Modi last year announced that India aims to increase its total
refining capacity to 450 mtpa from 254 mtpa.
• According to the International Energy Agency’s projections, India will overtake China
in 2027 to become the biggest driver of oil demand growth globally.
• The refinery-cum-petrochemicals project is being executed by HPCL Rajasthan
Refinery (HRRL), in which HPCL has a 74 per cent stake, while the rest is held by the
Rajasthan government.
• The project was first announced in 2008, but could not take off for years due to
differences with the state government on fiscal incentives.
• Once the issues were resolved, work on the project site began in 2018.
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11th & 12th February 2024
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11th & 12th February 2024
Tata Digital Names Naveen Tahilyani as CEO & MD after Pratik Pal Resigns
• Naveen Tahilyani has been appointed as the new Chief Executive Officer (CEO)
and Managing Director (MD) of Tata Sons' subsidiary Tata Digital.
• On February 19,2024 he assumed the new position.
• He will succeed Pratik Pal, who was instrumental in the launch of the company's
super app, Tata Neu.
About Naveen Tahilyani :
• Naveen, who joined the group in 2020 as the Managing Director and Chief Executive
Officer of Tata AIA Life Insurance, is currently in the transition phase as
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11th & 12th February 2024
SPORTS NEWS
The 15th CEC Ice Hockey Cup Championship is clinched by the Drass Warriors:
• In Ladakh, in a thrilling showdown at Khree Sultan Choo Ice Hockey Rink, Kargil,
the Drass Warriors clinched victory in the 15th CEC Ice Hockey Cup
Championship.
• Displaying exceptional skill, they secured a resounding win of 7 goals against
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11th & 12th February 2024
IMPORTANT DAYS
World Day of the Sick 2024: 11th February
• World Day of the Sick is a
Catholic Church awareness
day, or observance, on February
11, aimed at praying and sharing,
sacrificing one’s suffering for the
welfare of the church, and urging
everyone to see the face of Christ
in his or her ailing brother or
sister.
World Day of the Sick 2024: History
• In 1992, Pope John Paul II established the day to urge people to pray for individuals
who are ill and their caretakers.
• The pope showed signs of Parkinson’s disease in 1991, but it wasn’t verified until
2001, therefore, it’s notable that he opted to establish the World Day of the Sick barely
a year after his diagnosis.
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• In his apostolic letter “Salvifici Doloris”, the pope wrote extensively on the subject of
suffering and considered that it has always been a redeeming process through Christ.
• On February 11, 1993, the first World Day of the Sick was observed.
• The World Day of the Sick had a particular significance in 2005 because the ailing
pope died on April 2 of that year.
• As he lay dying in St. Peter’s Square in Rome, a large crowd assembled to pray for
him.
• On this day in 2013, Pope Benedict XVI announced his resignation, citing his poor
health as the cause for his departure. On World Day of the Sick, people all across the
world take the opportunity to pray for the sick and those who labor tirelessly to
alleviate their pain.
• Faith-based organizations commemorate this day by providing medicines, food, and
spiritual guidance to the sick.
International Day of Women and Girls in Science: 11th February
• International Day of Women
and Girls in Science 2024 is
observed on 11th February
• The Commission on the Status of
Women adopted a report on
March 14, 2011, with the goal of
encouraging girls and women to
pursue careers in science,
technology, engineering, and
math.
• Moreover, promoting women's
equal access to full employment
and respectable jobs should be a
priority.
• The General Assembly recognized in a resolution on science, technology, and
innovation for development adopted on December 20, 2013, that women and girls
should have full and equal access to and participation in science, technology, and
innovation to achieve gender equality and the empowerment of women and girls. It is
necessary for girls and women of all ages.
National Productivity Day: 12th February
• National Productivity
Day 2024 is observed on
the 12th of February
2024.
• National Productivity Day
is commemorated to
promote India's
productivity culture.
• On February 12, 1958, the National Productivity Council of India was Registered
under Societies Registration Act XXI, 1860.
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11th & 12th February 2024
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• The Uttarakhand state Assembly passed the Uniform Civil Code (UCC) Bill,
marking it as the first state in India post-independence to adopt a UCC.
• Tamil Nadu (TN) Micro, Small, and Medium Enterprises (MSME) Minister TM
Anbarasan launched the 'Smart Card' initiative for startups.
• Information and Broadcasting Secretary Apurva Chandra has been appointed as the
Secretary, the Department of Health & Family Welfare.
• Kazakh President Kassym-Jomart Tokayev signed a decree appointing Olzhas
Bektenov as the new Prime Minister (PM) of Kazakhstan.
• Naveen Tahilyani has been appointed as the new Chief Executive Officer (CEO)
and Managing Director (MD) of Tata Sons' subsidiary Tata Digital.
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