MP Becomes 1st State to Give Power Subsidy to Farmers through DBT

• Madhya Pradesh has become the first State to give electricity subsidy through Direct Benefit Transfer

• In December, 2020, the phase-1 of DBT of electricity subsidy scheme to farmers was initiated by the state in its Vidisha district where electricity is supplied through the MP Madhya Kshetra Vidyut Vitaran Co Ltd. There, the state transferred an amount of Rs 32.07 crore to the bank accounts of 60,081 beneficiaries.

• The State also started implementing this process in Jhabua and Seoni districts. Based on the outcome, the scheme will be rolled out in the entire State in FY2021-22.

• In order to create hassle-free provision of power subsidy and to improve the financial condition of power distribution companies

MeitY, Amazon collaborate to set up Quantum Computing Applications Lab in India

• The Ministry of Electronics & Information Technology (Meity) has partnered with Amazon Web Services (AWS) to set up a Quantum Computing Applications Lab in the Country. The lab will be the World's 1st Quantum Computing Applications Lab to support a National Government's Mission

• During the Union Budget 2020-21 Finance Minister Nirmala Sitharaman announced a National Mission on Quantum Technologies & Applications (NM-QTA) with a budget of INR 8000 Crore for a period of 5 years to be implemented by the Department of Science & Technology (DST)

• Select Researchers, Scientists will be provided access to Quantum Computing services via Amazon's Braket cloud-based Quantum Computing Service

• The Lab will serve as a testbed environment for Government bodies & scientific communities to test real-world challenges through experiments & prototypes in a low-risk space,

• Amazon has partnered with Startup India, Sequoia Capital India & Fireside Ventures to launch an Accelerator programme namely Amazon Global Selling Propel (AGSP)' to help early-stage startups to take their products to Global Audiences.

• As part of the program, a mentorship board which consists of Amazon Leaders from India & across the world, Venture Capitalists & senior leaders from Startup India has been set up by Amazon.

• 10 Startups would be chosen under the project, they will get a mentorship module with the mentorship board who will share knowledge on building and scaling up exports business through e-commerce.

• 3 of the 10 startups will get a chance to win a total equity free grant of USD 50,000 from Amazon

About Ministry of Electronics & Information Technology (Meity):

• Union Minister - Ravi Shankar Prasad
• Minister of State - Sanjay Dhotre

About Amazon:

• Chief Executive Officer - Jeff Bezos
• Headquarters - Seattle, Washington, USA

• On May 17, 2020, the Central Government enhanced the borrowing limit of the States by 2% of their GSDP in order to meet the challenges posed by the Covid-19 pandemic. Half of this disbursal is subject to the condition that states must carry out reforms in the following 4 identified areas:

• Implementation of One Nation One Ration Card System

• Ease of doing business reform

• Urban Local body/ utility reforms

• Power Sector reforms.

• Currently, 14 States have carried out at least one of the four stipulated reforms. Out of these, 11 States have implemented the One Nation One Ration Card System, 8 States have done ease of doing business reforms, 4 States have done local body reforms and Madhya Pradesh has implemented power sector reforms.

• So far, the Central Government has issued 62,762 crore as an additional borrowing for the above mentioned reforms.

About Madhya Pradesh:

• Chief Minister (CM)- Shivraj Singh Chouhan
• Capital, Bhopal

• Governor- Anandiben Mafatbhai Patel

MoRTH & DRDO sign MoU to Boost Collaboration in Geo-Hazard Management

• Ministry of Road Transport & Highways (MoRTH) & Defence Research and Development Organisation (DRDO) have signed a Memorandum of Understanding (MoU) to boost collaboration in the field of technical exchange & cooperation on sustainable Geo-hazard management.

• The main objective behind the Agreement is to ensure the safety of road users on National Highways(NHS) in India against adverse effects of landslides & other natural calamities.

• In-depth investigation of avalanches, landslides, slope instability & sinking problems.

• Planning, design and formulation of measures to mitigate impact of geo-hazards on NHs including tunnels.

• They will also monitor the implementation of the mitigation measures.

Maharashtra Govt Renamed Nagpur's Gorewada International Zoo as Balasaheb Thackeray Gorewada International Zoological Park

• Maharashtra Government renamed Gorewada International Zoo as "Balasaheb Thackeray Gorewada International Zoological Park", in memory of Balasaheb Thackeray

• This zoological park is situated in Nagpur, Maharashtra and covers about 2,000 hectares of the forest land.

• Maharashtra Chief Minister Uddhav Thackeray will inaugurate the Indian safari at the zoo on January 26, 2021.

ISGF announces the 7th edition of India Smart Utility Week 2021 from March 2-5, 2021

• The India Smart Grid Forum (ISGF) is all set to organize the 7th edition of India Smart Utility Week (ISUW 2021) from March 2-5, 2021 in a virtual format. ISUW 2021 will provide a digital platform for International Conference and Exhibition on Smart Energy and Smart Mobility for Smarter Cities which will be accessed at www.isuw.in.

• ISGF is a public private partnership initiative of Govt. of India with the mandate of accelerating smart grid deployments across the country.

• ISGF has been organising India Smart Utility Week (ISUW) since 2015 and it is considered as one of the top five international events on Smart Grids and Smart Cities.

IIFL Home Finance Ltd & Standard Chartered Bank Enters into Co-Lending Arrangement to Extend Credit to MSME Loans

• IIFL Home Finance Ltd and Standard Chartered Bank entered into a co-lending arrangement to extend credit to MSME loans (loan against property).

• It is to be noted that this is one of the 1st co-lending arrangements in industry after Reserve Bank of India(RBI) launched Co-Lending Model (CLM).

• IIFL Home Finance Ltd and Standard Chartered Bank will co-originate MSME loans

• RBI revised the loan scheme of the Co-origination Model between Banks and Non-Banking Financial Companies - Non-Deposit taking - Systemically Important (NBFC-ND-Sis) launched in September 2018 and renamed as Co- Lending Model (CLM)

About IIFL Home Finance Ltd:

• Headquarters- Gurgaon, Haryana
• Incorporated under- Companies Act, 1956
• Executive Director & CEO- Monu Ratra

About Standard Chartered Bank:

• Headquarters, London, United Kingdom(UK)

• Chief Executive- Bill Winters, CBE(Group Chief Executive of Standard Chartered PLC)

SBI, ICICI Bank, HDFC Bank remains in the 2020 list of D-SIBS

• Reserve Bank of India (RBI) released the 2020 list of Domestic Systemically Important Banks (D-SIBs) on the basis of data collected from banks as on March 31, 2020.

• As per the list SBI (State Bank of India), ICICI (Industrial Credit and Investment Corporation of India), and HDFC (Housing Development Finance Corporation Limited) continue to be D-SIBs or institutions which are too big to fail (TBTF)'.

• The additional CET (Common Equity Tier)-1 requirement as a percentage of Risk Weighted Assets (RWAS) in case of the SBI is 0.6%, while for the other two banks it is 0.2%

Union MoS Kiren Rijiju gets Additional Charge of AYUSH Ministry

• President Ram Nath Kovind, as advised by Prime Minister Narendra Modi, temporarily appointed Union Minister of State Kiren Rijiju with additional charge of the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy (AYUSH) following the hospitalisation and treatment of Shripad Yesso Naik.

• Kiren Rijiju is currently serving as MoS (Independent Charge-1/C) of Youth Affairs And Sports and MoS of Minority Affairs.

Siddhartha Mohanty Appointed as MD of LIC; Sanjeev Kumar Appointed as CMD of TCIL

• The Appointments Committee of the Cabinet (ACC) approved the appointment of Siddhartha Mohanty as Managing Director(MD) of Life Insurance Corporation (LIC). Meanwhile, Sanjeev Kumar has been appointed as the chairman & MD of Telecommunications Consultants India Ltd(TCIL).

• He succeeds TC Susheel Kumar who will retire on 31 January, 2021.

• Siddhartha Mohanty currently serves as the MD and Chief Executive Officer (CEO) of LIC Housing Finance.

About Life Insurance Corporation (LIC);

• In total there are 4 MD in LIC namely Vipin Anand, TC Susheel Kumar(will be succeed by Siddhartha Mohanty), Mukesh Kumar Gupta and Raj Kumar
• Founded, September 1, 1956,
• Headquarters, Mumbai, Maharashtra
• Chairman-MR Kumar

About Telecommunications Consultants India Ltd (TCIL):

• It functions under the Administrative control of Department of Telecommunications, Ministry of Communications, Govt. of India.
• HeadQuarters, New Delhi, India

PM Narendra Modi Appointed as Chairman of Somnath Temple Trust

• Prime Minister Narendra Modi was appointed as the chairman of Somnath Trust.

• He succeeds former Gujarat Chief Minister late Keshubhai Patel.

• The trust manages the world famous Somnath Temple at Prabhas Patan town in Gujarat's Gir-Somnath district. Narendra Modi is the second Prime Minister who has been appointed the chairman of the temple trust after former PM Morarji Desai.

J&K Bank board Decided to Transfer 8.23% stake to UT of Ladakh

• The board of Jammu & Kashmir (J&K) Bank has given its consent to transfer 8.23% J&K government's stake (4,58,29,445 Equity Shares), as on October 31, 2019, to the Union Territory (UT) of Ladakh.

• It should be noted that the government of J&K is a designated promoter of the bank. As on December 30, 2020, it holds 68.18% in the bank.

• One post of director on the Board of the J&K Bank is also earmarked for Ladakh.

About Jammu & Kashmir (J&K) Bank:

• Establishment - 1938
• Chairman & Managing Director (CMD)- Rajesh Kumar Chhibber

• Tagline- Serving to Empower
• Headquarter-Srinagar, J&K

Tripura Observed 42nd Kokborok Day on 19th January, 2021

• On January 19, 2021, Tripura observed the 42nd Kokborok Day to recognise declaration of Kokborok as an official language of the state of Tripura, India by the state government in the year 1979. Kokborok is the Sino-Tibetan native language of the Borok (Tripura) people of Tripura and neighbouring areas of Bangladesh.

• This language is not included in the 8th schedule of the Constitution of India. The name 'Kokborok' is derived from Kok meaning "verbal" and Borok meaning "human".