Daily Current Affairs – 1 February 2024

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

Scroll down for daily current affairs for 1 February 2024.

Vietnam and Philippines agrees to boost cooperation among their coastguards

  • Vietnam and the Philippines have agreed to work together more closely with their coastguards to avoid problems in the South China Sea. This was announced during a visit to Hanoi by Philippines President Ferdinand Marcos Jr. 
  • The two agreements on security focused on “preventing issues in the South China Sea” and “working together at sea” among coastguards. Both Hanoi and Manila have had problems with China’s coastguard before, but in the last year, there have been more conflicts between China and the Philippines, who are allies of the United States, making their relations worse.

Vietnam: 

Capital Hanoi

President: Võ Văn Thưởng

Prime Minister: Phạm Minh Chính

Currency: Vietnamese đồng

Philippines: 

Capital: Manila (de jure), Metro Manila (de facto)

President: Bongbong Marcos

Currency: Philippine peso

India ranks 93 among 180 countries in Global Corruption Index

  • More than two-thirds of the 180 countries on the list got a score below 50, showing there’s a lot of corruption. The CPI rates countries based on how much people think there is corruption in the public sector. The scale goes from zero (very corrupt) to 100 (very clean).
  • The countries with the least corruption are Denmark, Finland, and New Zealand. Denmark is number one for the sixth year, scoring 90 because they have a good justice system. Finland is second with a score of 87, and New Zealand is third with a score of 85. Other top countries include Norway, Singapore, Sweden, Switzerland, the Netherlands, Germany, and Luxembourg.
  • The most corrupt countries, according to the CPI, are Somalia, Venezuela, Syria, South Sudan, and Yemen. These places are dealing with long-lasting problems, mostly wars. Nicaragua, North Korea, Haiti, Equatorial Guinea, Turkmenistan, and Libya are also among the worst performers on the list.
  • India got the 93rd position in the CPI with a score of 39, according to Transparency International. India’s score stayed almost the same, being 40 in 2022, where it ranked 85th. Pakistan and Sri Lanka had lower scores, facing debt problems and political instability. Afghanistan and Myanmar scored 20, China scored 42, Japan scored 73, and Bangladesh scored 24 among India’s neighbors.

Sultan Ibrahim sworn in as Malaysia’s 17th king 

The wealthy sultan who leads Malaysia’s Johor state has become the new king in Malaysia’s unique rotating monarchy system. Sultan Ibrahim Iskandar, aged 65, took his oath and signed the proclamation of office at the palace. The ceremony was attended by other royal families, Prime Minister Anwar Ibrahim, and Cabinet members.

  • Sultan Ibrahim, one of the richest people in the country with businesses in real estate, telecoms, and power plants, has a close connection with Anwar. His reign might support Anwar’s unity government, which is dealing with strong opposition from Islamic groups.
  • Since Malaysia gained independence in 1957, nine ethnic Malay state rulers have taken turns as king for five-year terms, making it the only system of its kind in the world. Malaysia has 13 states, but only nine have royal families, some tracing their roots to ancient Malay kingdoms that were independent until the British brought them together.
  • Sultan Ibrahim was expected to be elected as the national king in October, following the established rotation order. Sultan Nazrin, the ruler of Perak state and next in line for the throne, was reelected as deputy king.

Malaysia: 

Capital: Kuala Lumpur

Prime Minister: Anwar Ibrahim

Currency: Malaysian ringgit

Govt appoints 3 full-time, 1 part-time member of 16th Finance Commission

  • The government formed the 16th Finance Commission on December 31, 2023.
  • The Commission has three full-time members and one part-time member.
  • Full-time members: Ajay Narayan Jha, Annie George Mathew, and Niranjan Rajadhyaksha.
  • Part-time member: Soumya Kanti Ghosh.
  • Arvind Panagariya, former NITI Aayog Vice-Chairman, is the Commission’s chairman.
  • Ritvik Ranjanam Pandey is the secretary of the Commission.
  • The Finance Commission, established every five years, distributes tax proceeds between the Centre, states, and local bodies.
  • Currently, India shares 41% of federal taxes with states based on the 15th Finance Commission’s recommendation.
  • The Commission will also assess the funding for disaster management initiatives under the Disaster Management Act, 2005.
  • The 15th Finance Commission, led by NK Singh, suggested giving states 41% of the divisible tax pool of the Centre for the period 2021-22 to 2025-26, consistent with the 14th Finance Commission’s recommendation.

TCS wins 15-year contract with UK-based Aviva

  • Tata Consultancy Services (TCS) secured a 15-year deal with the UK’s Aviva, a provider of insurance, wealth, and retirement services.
  • The partnership aims to transform Aviva’s UK life business, covering more than 5.5 million life and pensions policies.
  • This deal will also contribute to TCS’s growth in the UK.
  • TCS, present in the UK for over 45 years, collaborates with 200 businesses, including British Airways, Virgin Atlantic, Sainsbury’s, Nationwide, M&S, Asda, and Boots.
  • Currently, TCS employs over 23,000 people in the UK and Ireland, ranking among the region’s largest IT employers.

Tata Consultancy Services: 

Founded: 1968; 56 years ago

Founder: J. R. D. Tata

Headquarters: Mumbai, Maharashtra, India

Chairman: Natarajan Chandrasekaran

Aviva: 

Chairman: George Culmer

CEO: Amanda Blanc

Marut Drones Partners with NMDC for India’s First Mineral Exploration Drones

  • Marut Drones, a leading drone manufacturer in India, supplied National Mineral Development Corporation (NMDC) with drones for pioneering mineral exploration in the country.
  • NMDC acquired two custom Octacopter drones from Marut Drones for this innovative project.
  • The collaboration represents a significant advancement in mineral exploration, introducing advanced drone technology to improve precision in exploration and mapping for sustainable mining practices.
  • Marut Drones claims to have achieved a historic milestone by creating India’s first set of custom drones, featuring advanced sensors like Magnetometer, Hyperspectral, and Lidar specifically designed for mineral exploration.
  • The Mineral Exploration Drone by Marut Drones is equipped with cutting-edge features and an innovative coaxial design for stability and precise maneuverability during exploration.
  • The drones aim to make magnetic surveys five times faster and ten times more cost-effective, flying closer to the surface for enhanced data collection with higher resolution, making surveys efficient and affordable.
  • NMDC’s drone-based mineral exploration is expected to revolutionize current prospecting methods, particularly for greenfield deposits, bringing about significant changes in mineral discoveries in the country.

Uttar Pradesh Launches Caravan Tourism:

  • Uttar Pradesh’s Tourism Department, in collaboration with Motohom, introduces Caravan Tourism.
  • The initiative targets improving family-focused travel experiences and addresses accommodation challenges in regions with limited facilities.
  • The Motorhome Caravan, accommodating six to eight people, offers sleeping arrangements for up to six individuals.
  • Equipped with two washrooms and cooking facilities, the vehicle ensures a comfortable and convenient travel experience.
  • Bookings for the Caravan can be made through UP Tourism State Development Corporation Limited.
  • A promotional offer for the launch provides full-day booking at approximately Rs 35,000, covering travel up to 350 km.

H&M Appoints Daniel Erver as CEO:

  • H&M surprises investors with the appointment of Daniel Erver as the new CEO.
  • The Swedish fashion retailer aims for a 10% operating margin this year, focusing on profitability over sales volumes.
  • Daniel Erver, 42, previously head of H&M’s core brand, takes over the CEO role with immediate effect.
  • H&M faces challenges competing with Inditex and Shein in a fiercely competitive market.

Jay Shah Reappointed as ACC Chairman:

  • BCCI secretary Jay Shah is reappointed as the president of the Asian Cricket Council for a third consecutive term.
  • The extension is unanimously backed by all members of the ACC at its annual general meeting.
  • Under Shah’s leadership, the ACC successfully organized the Asia Cup in T20 and ODI formats in 2022 and 2023, respectively.

Garuda Aerospace Launches Droni Consumer Drone:

  • Chennai-based Garuda Aerospace, backed by MS Dhoni, launches the consumer drone ‘Droni’ at an introductory price of Rs 85,000 on Amazon.
  • Droni is a compact, foldable quadcopter nano drone weighing under 250 gms, with a 48 MP camera and a 60-minute flight time.
  • India is home to over 7 lakhs consumer drones, and Droni targets the growing demand in the market.
  • Mahendra Singh Dhoni, cricketer and Chennai Super Kings’ brand ambassador, promotes the launch of Droni on social media.
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