10th February, 2024 Current Affairs

Sakshi Education

NATIONAL
Mega Ports by 2047

Sixport clusters out of which four port clusters i.e. Cochin –Vizhinjam Port cluster, Galathea South Bay Port, Chennai – Kamarajar– Cuddalore Port cluster, Paradip and Other Non-Major Portscluster with capacity of more than 300 Million Tonnes Per Annum (MTPA) and two port clusters i.e. Deendayal and Tuna Tekra Port cluster, Jawaharlal Nehru – Vadhavan Port clusterwith capacity of more than 500 MTPA are to be developed as Mega Ports by the year 2047.
The activities to be undertaken by Major Ports for augmentation of capacity and improving infrastructure are included in the Maritime AmritKaal Vision, 2047.
The works for Infrastructure enhancement and capacity augmentation in the Major Ports are already under progress through Public Private Partnership (PPP) mode and also through internal resources.

IIT Madras To Spearhead Development Of India’s First Indigenous 155mm Smart Ammunition

In a strategic partnership aimed at advancing India’s self-reliance in defence, Indian Institute of Technology Madras (IIT Madras) and Munitions India Limited have joined forces to pioneer the development of 155 Smart Ammunition. This groundbreaking collaboration underscores a concerted effort towards achieving indigenisation in the defence sector.
The 155mm Indian Smart Ammunition is crafted to seamlessly integrate with current artillery guns, requiring no modifications. It incorporates advanced features like fin stabilization, canard control, and a 3-mode fuse operation, meeting diverse tactical needs.
The collaboration between IIT Madras and Munitions India Limited epitomizes the synergy between academia and industry in driving innovation and indigenisation within the defence sector.

Rivers Used For Waterways
Out of 111 National Waterways (NWs) declared vide National Waterways Act, 2016, 15 NWs are in Assam. Consequent upon completion of feasibility studies/Detailed Project Reports,8 NWs of Assam including inter-State have been found feasible for transportation, details of which is given in Annexure – 1.For development of under mentioned 4 NWs of Assam, steps taken by Government are mentioned below;-
(i)        NW-2 (River Brahmaputra):-
(a) Comprehensive development of NWs at a cost of INR 474 cr. approved which include Fairway Development, Terminal at Jogighopa, Tourist-cum-Cargo Inland Water Transport (IWT) Terminal at Bogibeel etc.
(b) Construction of alternative elevated road to Pandu Port to NH-27 at estimated cost of Rs.180 Cr. taken up
(c) Construction of ship repair facility at Pandu (Guwahati) at estimated cost of Rs. 208 Cr. taken up.
(ii)       NW-16 (River Barak):-Comprehensive development of NW-16 and Indo-Bangladesh Protocol (IBP) route at a cost of Rs. 148 crore approved which include fairway development and works viz. Up-gradation of Badarpur and Karimganj terminals, Construction of terminal at Maia on Ganga River and Construction of Terminal at Sonamura on Gumti river.
(iii)Development of NW-31 (river Dhansiri) at a cost of Rs. 84 cr.
(iv)      Development of NW-57 (river Kopili) at a cost of Rs. 32 cr.

Also Read: Awards: Weekly Current Affairs Bitbank (January 8 to 14, 2024): Which cities shared the cleanest city title at the Swachh Survekshan Awards 2023?

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INTERNATIONAL
India to Fence Indo-Myanmar Border for Enhanced Security

In an endeavor to bolster border security measures, India has embarked on a significant project to fence the entire 1643-kilometer-long Indo-Myanmar border.
Home Minister Amit Shah made the announcement, underscoring the government’s commitment to fortifying national borders and enhancing surveillance capabilities.
India’s decision to fence the entire border effectively terminates the Free Movement Regime, signaling a shift towards stricter border control policies.
With the surge of anti-Junta rebels and tribal militants crossing over since the 2021 Myanmar military coup, the fencing initiative aims to curb unauthorized border crossings and enhance security measures.
The 1643-kilometer-long India-Myanmar border traverses through Mizoram, Manipur, Nagaland, and Arunachal Pradesh, covering regions prone to border infiltrations.
Approval has been granted for additional fencing works covering approximately 20 km in Manipur, with implementation scheduled to commence shortly.

Yemen Appoints Ahmed Awad bin Mubarak as New Prime Minister

Yemen’s Presidential Leadership Council, in a significant move, appointed Foreign Minister Ahmed Awad bin Mubarak as the country’s new Prime Minister. This appointment comes at a critical time as Yemen faces increased tensions and security challenges. The outgoing Prime Minister, Maeen Abdulmalik Saeed, has been appointed as an advisor to the Chairman of the Presidential Leadership Council, marking a notable shift in the country’s political landscape.
Yemen, strategically located on the Arabian Peninsula, is currently experiencing heightened tensions due to a series of Red Sea attacks on ships by Houthi rebels. These attacks have prompted retaliatory strikes by the United States and the United Kingdom, signaling a potential escalation in the conflict.

ECONOMY
RBI’s Analysis Report on Trend and Progress of Banking in India 2022-23

The annual performance report of the Indian banking sector, compliant with Section 36(2) of the Banking Regulation Act, 1949, presents a comprehensive analysis of the sector’s achievements and challenges. It encompasses cooperative banks and Non-Banking Financial Companies (NBFCs), providing insights into their contributions to the country’s economic framework.
SCBs have experienced significant growth, with their combined balance sheets expanding by 12.2% in the fiscal year 2022-23, marking a nine-year high. This growth is attributed mainly to credit expansion in the retail and services sectors.
Additionally, SCBs have strengthened their capital buffers and asset quality, with the Gross Non-Performing Assets (GNPA) ratio reaching a ten-year low of 3.9% by March 2023 and further dropping to 3.2% by September 2023. Remarkably, no bank was under the prompt corrective action (PCA) framework by March 2023, indicating improved health of the banking sector.
NBFCs have shown remarkable growth and improvement in asset quality, with their combined balance sheets growing by 14.8% in 2022-23. The sector has witnessed a significant credit expansion, particularly in unsecured loans, micro-finance, and MSME loans. The Gross Non-Performing Assets (GNPA) ratio for NBFCs declined to 4.1%, showcasing an improvement in asset quality.

AWARDS
BHARAT RATNA 2024 announced

Bharat Ratna 2024 (Posthumously)	Karpoori Thakur	A renowned socialist leader and former Chief Minister of Bihar
Bharat Ratna 2024	Lal Krishna Advani	A Veteran Bhartiya Janta Party Leader
Bharat Ratna 2024	PV Narsimha Rao	Former Prime Minister
Bharat Ratna 2024	Chaudhary Charan Singh	A former Prime Minister who supported the agricultural sector and upheld the rights of the farmers.
Bharat Ratna 2024	MS Swaminathan	Father of Green Revolution