Daily Current Affairs – 7 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 7 February 2024. 

Union Minister G Kishan Reddy Launches Foundation Stone for Country’s First Digital National Museum of Epigraphy in Hyderabad

  • Union Culture Minister G Kishan Reddy has inaugurated the foundation stone laying ceremony for the country’s pioneering digital National Museum of Epigraphy at the Salar Jung Museum in Hyderabad. This innovative museum will provide comprehensive information about writing, scripts, and languages through multimedia installations. 
  • Spearheaded by the Archaeological Survey of India, the museum will house around one lakh ancient inscriptions spanning various languages and historical periods. 
  • The establishment of the Bharat Shared Repository of Inscriptions (Bharat SHRI) marks a significant milestone in the digitization of ancient inscriptions, promising to be an invaluable resource for scholars and researchers. Hyderabad, the capital and largest city of Telangana, is the chosen location for this groundbreaking endeavour.

Asian Development Bank Appoints Mio Oka as Country Director for India

  • The Asian Development Bank (ADB) has appointed Mio Oka as its new Country Director for India. Taking over from Takeo Konishi, who has been promoted as the ADB Director General for South Asia, Oka will oversee ADB operations in India and foster relationships with the government and other development partners. 
  • Leading the implementation of ADB’s country partnership strategy for 2023-2027, Oka aims to drive robust, climate-resilient, and inclusive growth in India. 
  • This strategy focuses on accelerating structural transformation, promoting climate-resilient green growth, and enhancing social and economic inclusiveness, aligning with India’s development goals and economic aspirations.

Petronet to Extend LNG Deal with Qatar for Supplies Beyond 2028

  • Petronet LNG, India’s premier liquefied natural gas (LNG) importer, is set to sign a new agreement with Qatar to extend its long-term LNG imports beyond 2028. Under the current deal expiring in 2028, Petronet LNG imports 7.5 million metric tons per year of LNG from Qatar. 
  • The renewed agreement will eliminate the fixed charge for Qatari LNG, signalling a shift in pricing terms. 
  • Qatar, the world’s leading LNG exporter, aims to expand its liquefaction capacity, signing long-term deals with major energy companies. India, seeking to increase the share of natural gas in its energy mix, views LNG imports as a crucial component in its emissions reduction strategy, aiming for 15% natural gas contribution by 2030.

RBI Approves HDFC Bank Group’s Proposal to Acquire 9.5% Stake in IndusInd Bank

  • The Reserve Bank of India (RBI) has granted approval to HDFC Bank Group to acquire an “aggregate holding” of up to 9.5 per cent of the paid-up share capital or voting rights in IndusInd Bank Limited. 
  • This approval, disclosed by IndusInd Bank in a regulatory filing with the BSE, follows the submission of an application by HDFC Bank Group to the RBI. The central bank has stipulated that HDFC Bank Group must acquire a major shareholding within one year from February 5, 2024, failing which the approval shall be revoked. 
  • Additionally, HDFC Bank Group must ensure that its holding in IndusInd Bank does not exceed 9.50 per cent of the paid-up share capital or voting rights at all times. If the aggregate holding falls below 5 per cent, prior approval from the RBI will be required to increase it to 5 per cent or more. 
  • Notably, the RBI recently permitted Life Insurance Corporation of India (LIC) to acquire up to a 9.99 per cent stake in HDFC Bank Ltd.

Indian-Origin Lawyer Giridharan Sivaraman Appointed Australia’s Race Discrimination Commissioner

  • Giridharan Sivaraman, an Indian-origin employment lawyer, has been appointed as the Race Discrimination Commissioner by the Australian Human Rights Commission (AHRC). 
  • Currently serving as the Chair of Multicultural Australia and a Principal Lawyer at Maurice Blackburn, Sivaraman is recognised for his extensive experience in running state and national race discrimination cases. 
  • He has led initiatives such as the pro bono compensation scheme for underpaid 7-Eleven workers, many of whom are migrants. Sivaraman offers legal representation and advice across various areas of employment law, including workplace discrimination, sexual harassment, and unfair dismissal.

Yemen Appoints Ahmed Awad bin Mubarak as New Prime Minister

  • Ahmed Awad bin Mubarak, Yemen’s foreign minister, has been appointed as the country’s new Prime Minister. Amid escalating tensions in the Red Sea, marked by Houthi rebel attacks on ships and subsequent retaliatory strikes by the US and UK, Bin Mubarak replaces Maeen Abdulmalik Saeed. 
  • Bin Mubarak, known for his opposition to the Houthi rebels, previously served as Yemen’s ambassador to the US and was abducted by the Houthis in 2015 during a power struggle with then-President Abd-Rabbu Mansour Hadi. He has also represented Yemen at the United Nations, demonstrating his significant diplomatic experience.

OECD Marginally Raises India’s GDP Growth Forecast for FY25

  • The Organization for Economic Co-operation and Development (OECD) has slightly increased its growth forecast for India’s GDP in the financial year 2024-25 (FY25) to 6.2 per cent, up from the previous estimate of 6.1 per cent provided in its November outlook. 
  • However, the growth forecast for India remains unchanged at 6.5 per cent for the subsequent financial year 2025-26. The OECD’s interim economic outlook highlights the continuation of moderate growth in India, with services showing stronger activity developments compared to manufacturing. 
  • The report also projects a gradual easing of inflation in emerging market economies, including India, due to factors such as tighter monetary policy and fluctuations in energy and food prices.

Tarun Chhabra Appointed New Nokia India Head

  • Tarun Chhabra, the head of mobile networks and senior vice president at Nokia, has been appointed as the new India head of the company as part of an organisational restructuring. Chhabra succeeds Sanjay Malik, who served as the senior vice president. Malik will continue in his role until March 31, 2024. 
  • Chhabra’s appointment aligns with Nokia’s global restructuring plan announced in October last year. These changes aim to streamline operations and enhance efficiency within the company.

Five Indian Chess Players Among Top 10 in Junior World Rankings

  • In a historic achievement, five young Indian chess players, including R. Praggnanandhaa, have secured spots in the top 10 of the junior world rankings for the first time. 
  • Alongside Praggnanandhaa, D. Gukesh, Nihal Sarin, Raunak Sadhwani, and Leon Luke Mendonca have also made it to the top ranks. This accomplishment underscores India’s growing prominence in the world of chess, with several players showcasing exceptional talent and potential on the global stage.

Fintech Platform Juspay Acquires LotusPay

  • Juspay, a payments infrastructure company, has acquired LotusPay, a provider of recurring payment solutions. The acquisition enhances Juspay’s offerings in the banking, financial services, and insurance (BFSI) segment, as well as for merchants. LotusPay’s expertise in recurring payments, particularly through National Automated Clearing House (NACH) Debit, complements Juspay’s portfolio of services. 
  • The integration of LotusPay’s solutions into Juspay’s offerings aims to provide enhanced payment solutions to a broader range of clients, including banks, non-banking financial companies (NBFCs), and merchants.
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