Read the important current affairs of 15 February 2024. Today Current Affairs covers the headlines Full Membership of IEA, Milkyway Tablet, Finance Commission Meeting, and WPI Index.
Daily Current Affairs – 15 February 2024
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15 February 2024 Current affairs, pertains to the most recent global news and events that have bearing on our day-to-day activities. As a crucial component of the general studies section, staying up to date with the 15 February 2024 Current Affairs is crucial for students getting ready for exams. The 15 February Current Affairs is significant because it can assist students become more knowledgeable about general topics, strengthen their reading and comprehension skills, and grow as critical thinkers.
International News
India Wants Full Membership With IEA
- India is now holding talks with ministers from the International Energy Agency (IEA) member nations concerning its bid to become a full member of the 31-nation Paris-based organization.
- These discussions recognize the strategic importance of India in tackling the world’s energy and climate concerns, as emphasized at the IEA’s 2024 ministerial meeting in Paris.
- Thirteen member countries and eight associates make up the IEA, of which four, including India, are vying for full membership.
Saudi Arabia Launch First Luxury Train ‘Dream Of The Desert’ In The Middle East
- The Dream of the Desert, Saudi Arabia’s first luxury train to launch soon. It will provide passengers a trip across Saudi Arabia and be the first luxury train in the Middle East.
- The 800-mile trip will start in Saudi Arabia’s capital city of Riyadh and head northwest to the Jordanian border.
- This new project has the potential to become a classic in and of itself because it offers the promise of luxury and cultural immersion. Prior to the train’s anticipated launch in 2025, reservations will be accepted for its inaugural journey by late 2024.
National News
1st Meeting of 16th Finance Commission Under Chairmanship Of Arvind Panagariya
- Under the direction of Arvind Panagariya, the 16th Finance Commission (FC) met for the first time to discuss its Terms of Reference (ToR).
- The commission intends to do extensive analytical work and make use of the knowledge of eminent think tanks and research institutes that focus on fiscal federal relations.
- The 16th FC recognizes the need for in-depth discussions with a wide range of stakeholders, including state and local governments, the Government of India’s various ministries, and professionals in the field.
The Milkyway Tablet Unvieled by The Epic Foundation
- With the launch of the Milkyway tablet by the Epic Foundation, a new age of “designed in India” technology catered to schoolchildren’s educational needs has begun.
- Establishing a new standard for sustainability and innovation, the Milkyway tablet is the first device designed from the ground up in India to be entirely repairable and upgradable.
- A significant step toward resolving the environmental effects of electronic waste and the financial hurdles associated with educational technology is the introduction of the Milkyway tablet.
To enhance disaster management, the UP government will collaborate with IIT Roorkee
- The MoU will be signed between both as part of a strategic move aimed at strengthening disaster preparedness and mitigation efforts.
- To reduce the loss of life and take people to safe places before the disaster, an MoU will be signed between the Relief Commissioner’s Office and IIT Roorkee.
- Under the MoU, experienced professionals from IIT Roorkee will provide specialized training to personnel in the Office of the Relief Commissioner, equipping them with advanced skills and techniques in disaster management.
- Apart from this, the Institute will conduct extensive research to identify the root causes of prevalent disasters so that proactive measures can be implemented.
- The impending MoU marks an important step towards strengthening the state’s resilience against natural disasters over the next five years.
- During this period, experts from IIT Roorkee will lead important research initiatives and capacity-building exercises.
Defence News
Ministry Of Defence Achieves ₹1 Lakh Crore Total Order Value Milestone On Government E-Marketplace
- With the recording of purchases of ₹1 lakh crore since the Government e-Marketplace (GeM) portal’s launch in 2016, the Ministry of Defence (MoD) has reached an important milestone.
- Through GeM, the MoD has completed more than 5.47 lakh orders for everything from general store goods to vital defense acquisitions.
- Procurement activity has been robust, as seen by the over ₹45,800 crore worth of transactions awarded in the current fiscal year alone.
Government Schemes
Union Minister Parshottam Rupala launched a renewed portal of the Animal Husbandry Infrastructure Development Fund.
- The renewed portal of the Animal Husbandry Infrastructure Development Fund has been launched by Union Minister Parshottam Rupala.
- The Animal Husbandry Infrastructure Development Fund is a Credit Guarantee Scheme for the livestock sector’s Micro, Small and Medium Enterprises without the need for collateral.
- The government has approved the continuation of AHIDF with an allocation of around 30 thousand crore rupees until 2025-26.
- The government is taking numerous steps to boost the production in the animal husbandry sector.
- Union Minister Parshottam Rupala also highlighted the initiative of a vaccination drive against foot and mouth disease for cattle and buffaloes across the country.
Animal Husbandry Infrastructure Development (AHIDF):
- It is a Central Sector Scheme under the Prime Minister’s Atma Nirbhar Bharat Abhiyan stimulus package.
- It was launched to promote investments in the animal husbandry sector.
- Farmer Producer Organizations, private companies, individual entrepreneurs, and Micro Small and Medium Enterprises are eligible for this scheme.
Sports
United World Wrestling lifts suspension on India.
- United World Wrestling lifted the suspension on the Wrestling Federation of India.
- The United World Wrestling (UWW) reviewed the suspension of WFI and decided to lift the ban.
- United World Wrestling (UWW) also directed no discriminatory action against Bajrang Punia, Vinesh Phogat and Sakshi Malik for protest.
- On 23rd August 2023, United World Wrestling imposed a ban on the Wrestling Federation of India.
- WFI has assured UWW that all wrestlers will be allowed to participate in all WFI competitions without any discrimination.
Economics News
RBI Asks Visa And Mastercard To Halt Commercial Card Payments Due to Compliance Concerns
- Citing worries about Know Your Customer (KYC) compliance, the Reserve Bank of India (RBI) has directed Visa and Mastercard to stop accepting card payments from businesses.
- This directive, which aims to ensure compliance with regulatory standards, covers transactions performed by both small and large businesses.
- Visa confirmed receiving correspondence from the RBI on February 8th, which suggested a more extensive industry inquiry for details on the function of Business Payment Solution Providers (BPSPs) in commercial payments. We are still awaiting Mastercard’s answer to the order.
LIC Increases Stake In SBI Cards & Payments Services Limited
- Through open market purchases, Life Insurance Corporation of India (LIC) increased its ownership of SBI Cards & Payments Services Limited from 4.99% to 5.02% of the paid-up capital.
- With the completion of this acquisition on February 9, 2024, LIC’s stake in the non-banking financial company has grown.
- SBI Cards and Payment Services is a prominent non-banking financial institution under RBI regulation that specializes in offering credit cards to Indian consumers.
Wholesale Price Index (WPI) in India is 3-Month Low At 0.27%
- The Wholesale Price Index (WPI) for India saw a significant slowdown in January, plunging to a three-month low of 0.27%.
- Data from the Ministry of Commerce and Industry indicated that lower costs for both food items and manufactured products were the cause of this reduction.
- The rate of increase in food costs decelerated significantly, with a three-month low of 6.85% in January as opposed to 9.38% in December.
Notably, after deflation for a sizable portion of the previous fiscal year, this is the third consecutive month that wholesale inflation has been in positive territory.
India’s Services Trade Surplus Hits Record High To $44.9 Billion In The 3rd Quarter
- India’s services trade surplus increased 16% year over year to an unprecedented $44.9 billion in the October–December quarter of FY24.
- Despite difficult international circumstances, this spike in excess is expected to reduce the current account deficit (CAD) over the duration.
- In the third quarter, services exports increased by 5.2% to $87.7 billion, while services imports decreased by 4.3% to $42.8 billion.
Reliance Industries Limited (RIL) became the first Indian company to achieve a market capitalization of Rs 20 lakh crore.
- Mukesh Ambani-promoted group’s shares also touched their 52-week high during intra-day trade amid firm sentiment in the broader market.
- During the intra-day session, the market valuation of the company increased to Rs 20,01,279.72 crore, and at the close, the market capitalization stood at Rs 19,81,635.72 crore.
- Reliance Industries shares jumped 1.88% to hit a record high of Rs 2,957.80 before closing 0.90% higher at Rs 2,928.95 per share on the BSE.
- On the NSE, Reliance Industries Its shares rose nearly 1.89% to hit a record high of Rs 2,958 and its 52-week high.
- The market value of the oil-to-telecom group’s shares has increased by nearly Rs 1 lakh crore in the last two weeks.
- Reliance Industries continued to rank top in the charts in the ranking of top 10 most valuable companies, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Life Insurance Corporation of India, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC.
Important Days
International Childhood Cancer Day 2024
- International Childhood Cancer Day is observed annually on February 15th, and it unites people worldwide to raise awareness of the difficulties and struggles that children and adolescents with cancer confront.
- This day is a moving reminder of the resiliency of pediatric patients and the teamwork needed to assist them on their road to recovery.
- International Childhood Cancer Day was created in 2002 by Childhood Cancer International with the intention of raising awareness of the effects that childhood cancer has on young patients, their families, and the larger community.
Appointments News
Supreme Court Collegium Recommends Transfer Of 3 High Court Judges
- Three high court judges have been recommended for transfer upon their individual requests by the Supreme Court collegium, which is presided over by Chief Justice D. Y. Chandrachud.
- Justice Moushumi Bhattacharya has requested to be transferred to the High Court for the State of Telangana, and the collegium has granted her plea.
- Justice Anu Sivaraman has been granted permission by the collegium, which has recommended that she be transferred to the Karnataka High Court.
- In light of the improved administration of justice, the collegium has decided to recommend that Justice Sujoy Paul be transferred to the High Court for the State of Telangana.
Awards News
Havildar Varinder Singh Awarded Vishisht Seva Medal For Developing Multipurpose Octocopter
- The esteemed Vishisht Seva Medal has been given to Havildar Varinder Singh, an Indian Army Sikh regiment member, in recognition of his outstanding contribution to military technology.
- This award was given to him by President Droupadi Murmu in appreciation of his extraordinary work in creating a ground-breaking piece of machinery.
- The Multipurpose Octocopter, created by Singh, is a prime example of drone technological innovation. Singh’s invention offers unmatched versatility, in contrast to traditional drones that are only useful for surveillance. It can perform a wide range of duties, making it more than just a tool for reconnaissance.