DRDO’s Naval variant of Light Combat Aircraft makes its first successful landing
The naval version of indigenous Light Combat Aircraft, LCA, made its first successful landing on the aircraft carrier INS Vikramaditya. This aircraft is developed by the Defence Research and Development Organization, DRDO.
With the successful landing of Light Combat Aircraft, LCA on aircraft carrier INS Vikramaditya, India has entered the club of selected nations having the capability to design a fighter jet which can land on an aircraft carrier. LCA is the smallest and lightest Multi-Role Supersonic Fighter Aircraft of its class.
Government promulgates ordinance for amendment of laws to ease coal mine auctions
The government announced promulgation of the ordinance for amendment in the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 and the Coal Mines (Special Provisions) Act, 2015 in order to ease auction of coal mines, allow FDI and enhance ease of doing business.
The Union Cabinet had recently approved the amendments which intend to open new areas of growth in the coal and mining sector.
The amendments will allow Foreign Direct Investment (FDI) in the coal mining sector by removing the restriction and eligibility criteria for participation.
Government raises authorised capital of Indian Overseas Bank to Rs 25,000 crore
The central government in consultation with the Reserve Bank of India (RBI)has announced an increase in the authorized capital of Indian Overseas Bank (IOB) to Rs 25,000 crores from the previous authorized capital of Rs. 15,000 crores.
Headquarters- Chennai, Tamil Nadu.
Haitham bin Tariq al-Said takes over as Sultan of Oman
Haitham bin Tariq al-Said took over as Sultan of the Oman after the death of long-time ruler Qaboos. The new ruler is the cousin of late Sultan Qaboos. Sultan Qaboos died at the age of 79 following a prolonged illness.
Qaboos had ruled Oman since 1970 and was the eighth sultan of the House of Al Said. He was the longest-serving monarch among the recent Arab rulers.
Home Minister Amit Shah launched country’s first Cyber Crime Prevention Unit AASHVAST in Gandhinagar
Home Minister Amit Shah launched the country’s first Cyber Crime Prevention Unit called the “Cyber AASHVAST” in Gandhinagar. Along with AASHVAST, the Video Integration and Statewide Advance Security project called VISWAS was also launched.
The Cyber AASHVAST is a unit that will act to prevent cybercrimes with the help of VISWAS and NETRANG. It will own an exclusive online portal that will have dedicated service helpline for victims of cyber-crimes. The AASHVAST will also monitor, prevent and control cyber-crimes in the state. Along with AASHVAST and VISWAS, Project NETRANG was also launched. It will establish command and control rooms in 33 districts of Gujarat.
Industrial production grows 1.8% in November, turns positive after 3 months
The Index of Industrial Production (IIP) recorded a growth of 1.8 per cent in November 2019 mainly on account of improvement in the manufacturing sector. The IIP growth in November 2018 was 0.2 per cent.
According to the National Statistical Office (NSO) data, the growth in the manufacturing sector was 2.7 per cent as against a contraction of 0.7 per cent in the same month last year. Electricity generation turned negative (-) 5 per cent as against a growth of 5.1 per cent in November 2018.
Mining sector output decelerated to 1.7 per cent from 2.7 per cent in the year ago month.
Iranian armed forces accept responsibility for accidental shoot-down of Ukrainian passenger plane
An Iranian Revolutionary Guard Commander has said his unit accepts full responsibility for the accidental shoot-down of a Ukrainian passenger plane.
Iran’s armed forces said they mistook the passenger plane for a hostile target in the tense aftermath of Iran’s ballistic missile attack on two military bases in Iraq housing US troops. That attack was retaliation for the killing of Iran’s top General, Qassem Soleimani, in an American air strike in Baghdad.
Maharashtra dominates medal’s tally at Khelo India Youth Games in Guwahati
In the third Khelo India Youth Games in Guwahati, Maharashtra is leading the medal tally with 25 medals including 7 gold, 7 silver and 11 bronze medals.
Uttar Pradesh is holding the second position in the medal tally with 6 gold medals. Delhi won 4 gold and 1 silver and reached in the third position in the medal tally.
National Youth Day: January 12
The National Youth Day has been celebrated every year on 12 January. This is the day when Swami Vivekananda, one of the greatest social reformers, thinkers, and philosophers of India, was born.
The main aim behind this is to make sure that the students across the country can be encouraged to learn about life, the ideas and philosophy of Swami Vivekananda and apply them in their lives.
PayU buys PaySense for $185 mn in India’s largest fintech acquisition deal
In India’s largest fintech acquisition deal, digital payments gateway provider PayU has acquired a controlling stake in fintech start-up PaySense at a valuation of $185 million. As part of the transaction, PayU will merge it with its credit business LazyPay to build a full-stack digital lending platform in the country.
Prashanth Ranganathan, the founder and CEO of PaySense, will head PayU’s credit business in India as the CEO of the new venture.
Rani Rampal Nominated for World Games Athlete of Year 2019 Award
India women’s hockey captain Rani Rampal has been nominated for the World Games Athlete of the Year 2019 award. Rani was instrumental in India qualifying for the first time in back-to-back Olympic Games.
This will be the sixth edition of the IWGA initiative that recognises and honours an athlete or a team for their outstanding performance in 2019, or for their social commitment or particularly fair behaviour.
RBI releases “National Strategy for Financial Inclusion” report
The Reserve Bank of India has released a report “National Strategy for Financial Inclusion (NSFI): 2019-2024”. The National Strategy for Financial Inclusion for the period 2019-2024 has been formulated by RBI under the aegis of Financial Inclusion Advisory Committee (FIAC). The report has been ratified by the Financial Stability Development Council (FSDC).
The report stated the following 6 pillars as part of strategic objectives to achieve the aim of financial inclusion: Universal Access to Financial Services, Providing basic bouquet of financial services, Access to livelihood and Skill Development, Financial Literacy and Education, Customer Protection and Grievance Redressal, Effective Co-ordination.
Reserve Bank of India permits recurring payments through UPI
The Reserve Bank of India (RBI) said that it would permit processing of e-mandate on recurring transactions via the unified payments interface (UPI) system. This would help customers signing up for products such as systematic investment plans and insurance that involve recurring payments. The cap on transactions under the arrangement has been pegged at Rs 2,000.
Charges are not to be levied on such transactions from the user availing the e-mandate facility.
Smriti Irani launches Yashaswini Scheme for Women entrepreneurship in Goa
Union Minister for Women and Child Development and Textiles, Smriti Irani launched Yashaswini Scheme for Women entrepreneurship in Goa. The event was held at Dr Shyama Prasad Mukherjee Stadium at Taleigao near Panaji. Swasthya Sakhi Project and breast cancer screening initiative were also inaugurated on the occasion.
Under Yashaswini scheme, women self-help groups will be given interest free loans of upto Rs Five lakh for business.
Tsai Ing-wen wins 2nd term in landslide win in Taiwan elections
President Tsai Ing-wen won a landslide victory over China-friendly opposition challenger Han Kuo-yu to clinch a second term in Taiwan’s presidential election.
The president, whose Democratic Progressive Party advocates formal independence from China, has vowed that Taiwan will never be unified with China as long she is in power.
