DAILY GK 7-9 NOV 2024
1. RBI ADDS 13 NEW FIRMS TO
ITS ALERT LIST OF UNAUTHORIZED FOREX TRADING PLATFORMS
·
The Reserve Bank of
India (RBI) added 13 more
firms to its “alert list” of unauthorized forex
trading platforms. With this, the total number of entities in the RBI alert
list has expanded to 88.
·
Name of 13 Firms on RBI’s Alert List are TDFX
(tdfx.exchange), Inefex, YorkerFX, Growline, Ranger Capital, Think Markets ,
Smart Prop Trader, Funded Next, Weltrade, FreshForex, FX Road, DBG Markets,
Plusonetrade
2. HDFC INAUGURATES ITS FIRST BRANCH IN
SINGAPORE
·
HDFC Bank Limited inaugurated its first branch in Singapore to
provide banking services in Singapore. HDFC Bank has received the wholesale
banking license from the Monetary Authority of Singapore (MAS)
·
Now,
HDFC’s international operations includes five branches, one each in Hong Kong,
Bahrain, the United Arab Emirates(UAE), Singapore and an IFSC Banking Unit
(IBU) in Gujarat International Finance Tec City(GIFT City), India.
3.
MOF RAISED MUDRA LOAN LIMIT FROM RS 10 TO RS
20 LAKH
·
The Department
of Financial Services (DFS) under the Ministry of Finance (MoF)
raised the limit of Mudra loan amount under the
Pradhan Mantri Mudra Yojana (PMMY) from
current Rs 10 lakh to Rs 20 lakh under
new “Tarun Plus” category to promote
entrepreneurship in the country.
·
Borrowers
who have previously availed and successfully repaid loans under “Tarun”
category will be able to access funding between Rs 10 lakh and Rs 20 lakh.
4. RBI MANDATES NBFCS
TO MAINTAIN AT LEAST 25% BORROWINGS FROM CAPITAL MARKET
·
The Reserve Bank of India (RBI)
mandated Non-Banking Financial Companies (NBFCs) to
ensure that at least 25% of their borrowings come
from the capital market.
·
RBI has announced that the interest rate
for the Government of India Floating Rate Bond 2034 (GOI FRB 2034) will be
7.53% per annum for the upcoming six-month period, from October
30, 2024, to April 29, 2025.
·
RBI Governor – Shaktikanta Das
·
Deputy Governors – Swaminathan
Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
·
Establishment– 1st April 1935
·
Headquarters– Mumbai, Maharashtra
5.
GROWTH IN PERSON DAYS IN MGNREGA
·
As
per the data by the Ministry of Rural Development (MoRD),
Rural employment under Mahatma Gandhi National Rural Employment Guarantee
Act 2005 (MGNREGA) has increased in the last 10 years.
·
From
the Financial Year 2006-07(FY07) to FY14, a total of 1,660
crore person-days were generated.
·
Between FY15 and FY25, the total person-days increased significantly to 2,923 crore.
·
This represents an increase of
approximately 76.1% in person-days generated over
the two periods.
·
Adhaar seeding
has been done for around 13 crore active workers, which is 99.3% of total
active workers.
·
It
enabled to minimise the rejection of transactions due to the frequent changing
of accounts.
·
The
budget allocation for MGNREGA has also increased to 86,000
crore during FY 2024-25 budget allocation from Rs 33,000 crore
during FY 2013-14.
·
The minimum average notified wage rate has
increased by 7% in FY25
6. RBI MAKES 6 AMENDMENTS
KYC DIRECTIONS
·
The Reserve Bank of India (RBI) has
introduced six amendments to the Master Direction – Know Your Customer (KYC)
Direction, 2016 (as amended from time to time), w.e.f. November 6, 2024.
·
It should be noted that the terms of
Master Direction on KYC are followed by Regulated Entities (REs)
to undertake Customer Due Diligence (CDD) for their
customers.
·
The Six Amendments are
1. Customer Acceptance Policy : REs must apply CDD at the Unique
Customer Identification Code (UCIC) level.
2. High-Risk Accounts Monitoring
3. KYC Updation
4. KYC Records and CKYCR REs must update KYC data for individual and
legal entities with the Central KYC Records Registry (CKYCR)
within seven days of receiving new information.
5. Changes in UAPA Procedures: The designation of the
Central Nodal Officer under the UAPA, 1967 has been changed from ‘Additional
Secretary’ to ‘Joint Secretary’,
6. Terminology Update: Throughout the Master Direction,
references to “section” have been replaced with “paragraph” for
consistency in legal language.
7. TOP 3 STATES IN DIRECT TAX
CONTRIBUTOR IN FY24 : SBI
·
According to the State Bank
of India (SBI) Research report titled ‘How Tax
Simplification has given a necessary fillip to ITR Filing‘, Maharashtra
has the highest share in direct tax revenue in the Fiscal Year 2023-24
(FY24).
·
Maharashtra retained the top
position with a significant 38.9% share,
Karnataka contributed 11.9% and Delhi fell to
third place, contributing 10.4%, followed by Tamil Nadu (TN) at 6.5% and
Gujarat at 4.8%.
·
These 5 states collectively contribute
over 70% of India’s total direct taxes.
·
A Direct tax is imposed directly on the taxpayer and paid directly to the government
by the persons (juristic or natural) on whom it is imposed.
·
The
number of tax returns filed has increased significantly, rising from 7.3 crore
in FY22 to an expected 9 crore for FY24.
8. INDIA’S TOP
3 DEFENCE EXPORT CUSTOMERS
·
The United States of America (USA), France,
and Armenia emerged as the top three customers
for Indian military equipment in the Fiscal Year 2023-24 (FY24).
·
In FY24, India’s Defence exports reached a
record value of Rs 21,083 crore (approximately USD 2.6
billion), marking a 32.5% increase from FY23’s figure
of Rs 15,920 crore.
·
Armenia biggest buyer of India’s
‘finished’ weapon systems
·
Though India remains the world’s largest arms importer,
accounting for 9.8 per cent of global imports from 2019-2024
9. WORLD POLIO DAY – OCTOBER 24 2024
·
World Polio Day is annually observed
across the world on 24th October to highlight the importance of the efforts to
eradicate poliomyelitis (polio), the infectious disease that commonly
affects children aged under 5.
·
In
2023, as per analysis by UNICEF, total of 541 children globally
were reported to be affected by polio, with 85% living in
21 countries that are either fragile or conflict-affected.
·
WHO Headquarters– Geneva, Switzerland
·
Establishment– 1948
10.
NATIONAL UNITY DAY (RASHTRIYA EKTA DIWAS) 2024 –
OCTOBER 31
·
National Unity Day, or Rashtriya Ekta Diwas,
is celebrated every year across India on October 31 to
honor the birth anniversary of Sardar Vallabhbhai Patel, known as
the “Iron Man of India”, who earned the title
“Sardar” for his exceptional leadership.
·
Sardar
Vallabhbhai Patel was born on October 31, 1875, in Nadiad, Gujarat
and he was a lawyer by profession.
·
In
1931, he was elected as the President of the Indian Nation Congress (INC) at
its Karachi Session.
·
On
15 August 1947, he took oath as the first Deputy Prime Minister, as well as
the first Home Minister of independent India in the newly formed
government under PM Jawaharlal Nehru.
·
He
also took charge as India’s first Minister of Information and Broadcasting. He
died on December 15, 1950, at Birla House in Bombay (now Mumbai) Maharashtra.
·
2024 Event The ‘Run for Unity 2024’ was held
this year on October 29, marking an early celebration of Rashtriya Ekta Diwas due to
coinciding with the festival of Deepawali.
11. WORLD TSUNAMI AWARENESS DAY 2024 –
NOVEMBER 5
·
The United Nations (UN’s) World
Tsunami Awareness Day (WTAD) is annually
observed across the globe on 5 November to raise
public awareness of the devastating impacts of tsunamis, promote understanding
of safety measures, and implement early warning systems for such natural
disasters.
·
The theme of WTAD 2024 is “youth
and future generations”.
·
Intergovernmental Oceanographic Commission of United Nations
Educational, Scientific and Cultural Organization (IOC-UNESCO) Headquarters– Paris, France
12. NATIONAL CANCER AWARENESS DAY 2024 –
NOVEMBER 07
·
National Cancer Awareness Day (NCAD)
is annually observed across India on 7 November to
raise awareness about the prevention, detection, and treatment of various types
of cancer.
13.
JUSTICE KS PUTTASWAMY PASSES AWAY
·
Justice KS Puttaswamy, former Judge of Karnataka high Court and
the key petitioner in the “Right to Privacy” Matter,
passed away at the age of 98.
·
In
2012, Justice Puttaswamy moved the Supreme Court(SC) against the Aadhaar scheme
of the Congress-led United Progressive Alliance (UPA) government.
·
In
2015, the SC, as a part of his petition against Aadhaar, decided to consider
the larger issue of whether citizens have a fundamental right to privacy under
the Constitution of India.
·
On
24th August 2017, a 9-judge Constitution bench led by then Chief Justice JS
Khehar, upheld the Aadhaar scheme and unanimously recognised privacy as a
fundamental right.
·
The right to privacy is a fundamental right in India, protected under Article 21 of the
Constitution. The Supreme Court ruled in 2017 that privacy is an essential
aspect of personal liberty and dignity.
·
The right to privacy includes: Personal information,
Communication, Decisions, Movements, Personal choices, Partners, and Eating habits.
