Daily Current Affairs – 05 January 2024

These current affairs today are a part of our daily current affairs. We cover a wide range of topics from state, national, and international news that are relevant and important for competitive exams. Our team prepares today’s current affairs after going through many newspapers, such as The Hindu, Indian Express, PIB, PRS, etc.

Scroll down for current affairs of 5th January, 2024.

France Embraces Digital Innovation with Online Schengen Visas for Paris Olympics

• In a groundbreaking initiative, France has emerged as the trailblazer among European Union members by introducing fully digital Schengen visas for the 2024 Olympic and Paralympic Games in Paris.
• Commencing on January 1, 2024, the recently launched “Olympic Consulate” system operates seamlessly through the France-Visas portal, streamlining the application process for an estimated 15,000 international athletes, 9,000 journalists, and various foreign delegations.
• All applications for the 70,000 visas will be exclusively handled online, preventing them from becoming entangled with other visa requests. This pioneering move aligns perfectly with the EU’s ambitious plans for the digitalization of Schengen visas, marking a substantial transformation in visa application procedures.

Oman to Host FIH Hockey5s World Cup Qualifiers

• Oman is poised to unveil its state-of-the-art sports complex—an avant-garde facility meticulously crafted to host the FIH Hockey5s World Cup qualifiers, strategically scheduled just preceding the Summer Olympics in Paris in 2024.
• The FIH Hockey5s World Cup qualifiers promise to deliver an exhilarating spectacle, captivating eight international teams, all competing fervently for the privilege of securing one of three coveted tickets to the forthcoming Olympics.
• The newly erected stadium showcases an impressive capacity, accommodating upwards of 5,000 spectators throughout the tournament. 
• Constructed in strict adherence to the latest standards and designs endorsed by the International Hockey Federation, the stadium assures an unparalleled viewing experience for enthusiasts and participants alike.

India Ratings and Research (Ind-Ra) Raises Growth Forecast for FY’24 to 6.7%

• India Ratings and Research (Ind-Ra) has adjusted its GDP growth projection for the current fiscal year, elevating it to 6.7% from the previous estimate of 6.2%. 
• This upward revision is credited to the resilience of the Indian economy, sustained government expenditure, a balanced corporate and banking sector, and the potential for a new phase of private corporate investment.
• The Reserve Bank of India expects a gradual slowdown in GDP growth in the final two quarters of FY24, projecting an overall GDP growth of 7%.

PMI Manufacturing Records 18-Month Low at 54.9 in December Amid Festival Demand Slowdown

• The HSBC India Purchasing Managers’ Index (PMI) for manufacturing has dropped to its lowest point in 18 months, reaching 54.9 in December, down from 56 in November, indicating a slowdown.
• Despite this decline, the manufacturing sector remains in expansion mode, marking 30 consecutive months with the index above 50, signaling growth. The decrease is attributed to a weaker increase in new orders and output.
• The manufacturing sector continued to grow in December, albeit at a slower pace, maintaining growth momentum despite the decline. 
• Increased new business, favorable market conditions, fairs, and expositions contributed to a notable rise in manufacturing during December.

Prime Minister Modi Inaugurates ₹1,156 Crore Projects in Lakshadweep

• In a momentous development, Prime Minister Narendra Modi inaugurated projects amounting to ₹1,156 crore during his visit to the Lakshadweep islands. 
• Noteworthy among these projects is the Kochi-Lakshadweep Islands Submarine Optical Fibre Cable, a ₹1,072-crore endeavor that promises to provide 100 Gbps internet connectivity to the islands.
• This undersea cable link, implemented by the Japanese firm NEC and laid by BSNL, assures a significant boost, offering 100 times faster internet for the residents of Lakshadweep. 
• Spanning 1,868 kilometers, it links Kavaratti, Agatti, Amini, Kadmat, Chetlet, Kalpeni, Minicoy, Androth, Kiltan, Bangaram, and Bitra. This initiative enables telecom companies to introduce 4G, 5G, and high-speed broadband for the first time in the archipelago.

Reliance Industries Attains India’s First ISCC-Plus Certification

• Reliance Industries Limited (RIL) achieved a significant milestone, being the first in India to produce ISCC-Plus certified chemically recycled polymers. 
• The certification applies to RIL’s Jamnagar refinery in Gujarat. On December 29, RIL proudly announced the successful shipment of its first batch of ISCC-Plus certified circular polymers, named CircuRepol (polypropylene) and CircuRelene (polyethylene), to an undisclosed client. 
• Companies with ISCC Plus certification commit to transparently tracing the sustainability of their raw materials.

Observing World Braille Day 2024

• World Braille Day, observed annually on January 4, honors Louis Braille, the visionary behind the transformative braille system. 
• Born in 1809 in France, Louis overcame childhood blindness, creating one of history’s most revolutionary systems. 
• The day raises awareness about the challenges faced by individuals with visual impairments, advocating for their rights and societal integration. 
• It serves as a reminder of the importance of empathy and compassion toward those navigating a world without sight.

Czech Prime Minister to Attend Vibrant Gujarat Summit

• The 10th edition of the Vibrant Gujarat Global Investors Summit (VGGS) is scheduled in Gandhinagar from January 10 to 12, 2024, under the theme “Gateway to the Future.” 
• This biennial event provides a crucial platform for global policymakers, diplomats, business leaders, and investors to collaborate and explore opportunities.
• As many as 28 countries and 14 organizations, including the UAE, Czech Republic, Australia, Japan, and the UK, have confirmed participation, strengthening bilateral relations.

PNB Housing Finance’s NCD Ratings Receive Upgrade by India Ratings to IND AA+ with Stable Outlook

• India Ratings and Research (Ind-Ra) has raised the rating of PNB Housing Finance Limited’s non-convertible debentures (NCDs) to ‘IND AA+’ from ‘IND AA,’ with a stable outlook.
• PNBHF is a significant player in housing finance, managing assets worth INR 674 billion, focusing on retail loans, and holding over three decades of operational experience.
• PNBHF relies on diverse funding sources, including deposits, banking lines, and external commercial borrowings, ensuring flexibility and stability in its financial profile. 
• The company’s emphasis on a low-ticket, granular mortgage portfolio has contributed to improved profitability, boasting a return on assets of 2.2% in 1HFY24.

Gujarat Government Secures Deals Valued at $86 Billion Ahead of Vibrant Gujarat Global Summit

• In anticipation of the upcoming Vibrant Gujarat Global Summit, the Indian state of Gujarat has finalized initial investment agreements worth a staggering 7.17 trillion Indian rupees, equivalent to $86.07 billion. 
• These agreements involve 58 companies across various sectors such as energy, oil and gas, and chemicals.
• With NTPC and Torrent Power taking the lead, these strategic deals represent a strong effort by Gujarat to attract both local and international investors. 
• This initiative is crucial as Prime Minister Modi aims to boost investments in the country ahead of the upcoming national elections, where he seeks a third term.

Randhir Jaiswal Assumes Role of MEA Spokesperson

• In a significant change at the Ministry of External Affairs (MEA), Randhir Jaiswal takes over as the official spokesperson from Arindam Bagchi. 
• This transition follows Arindam Bagchi’s appointment as India’s Permanent Representative to the United Nations and other international organizations in Geneva.
• Arindam Bagchi, a seasoned IFS officer, served as the spokesperson since March 2021, witnessing key diplomatic events.

Honoring Prof B R Kamboj with M S Swaminathan Award

• Chaudhary Charan Singh Haryana Agricultural University’s Vice Chancellor, Prof. B.R. Kamboj, receives the esteemed M.S. Swaminathan Award for his remarkable contributions as a scientist and extension specialist in agronomy. 
• His deep understanding of farmers’ challenges and collaborative research efforts has consistently benefited the agricultural community.

Beatrice Chebet Sets New 5 Km World Record in Barcelona

• In a stunning athletic feat, Kenya’s Beatrice Chebet concludes her exceptional year by breaking the women’s 5 km marathon world record at the Cursa dels Nassos in Barcelona. 
• With a remarkable time of 14:13, Chebet surpasses the previous record by six seconds, securing a memorable achievement. 
• The thrilling final face-off against former record holder Ejegayehu Taye saw Chebet sprinting ahead in the last 500m, clinching victory with a clear lead.

Karan Adani Appointed Managing Director of Adani Ports

• Adani Ports and Special Economic Zone Ltd (APSEZ) announced Karan Adani’s elevation from CEO to Managing Director, succeeding Gautam Adani. 
• Additionally, the company appointed Ashwani Gupta, former global COO at Nissan Motors, as the new CEO. 
• Ashwani Gupta’s extensive industry experience strengthens APSEZ’s global port sector leadership. 
• With these changes, Gautam Adani now holds the position of ‘Executive Chairman’ of APSEZ.

Today’s Current Affairs MCQs/ GK Quiz 5th January 2024