Daily Current Affairs 04th February 2023

04 February 2023
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Daily Current Affairs 04th February 2023

Current Affairs 04th February 2023 are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily Current Affairs is the complete bag of important news that is held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the GK update for 04th February  2023 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz. 

Here is the Current Affairs 04th February 2023 covering the following news headlines: Haj quota, G Kishan Reddy, Nagaland Government, Semiconductor Manufacturing unit in India, Artificial Intelligence.

Top 12 Daily Current Affairs: National & International News:

Here is providing below the top 12 important Daily General Knowledge 2022 updates with national & international news.

National News

1. India's Haj quota for 2023 fixed at 1,75,025: Govt

• Minority Affairs Minister Smriti Irani has informed that the Government, under the Annual Bilateral Agreement with Saudi Arabia for Haj pilgrimage this year, has restored the original Haj quota which stands at one lakh 75 thousand 25.
• Minister Ms Irani added that in this direction the Ministry held a number of interactive sessions on Haj management with the stakeholders, including Haj Committees of the States and Union Territories wherein requests for restoration of Haj Quota were received.

2. G Kishan Reddy Launched Visit India Year 2023 Initiative

• Minister of Tourism G. Kishan Reddy launched the Visit India Year - 2023 initiative and unveiled the logo in New Delhi. Minister of Tourism G. Kishan Reddy kicked off the year of grand plans and activities for promoting tourism in the country.
• Minister of Tourism G. Kishan Reddy noted that the launch of the Visit India Year 2023 logo is taking place in this important year as India is heading G20.
• He also informed that more than one lakh foreign delegates will visit India this year and they will be showcased the entire gamut of India's culture, including monuments and festivals.
• Mr. Reddy added that each foreign delegate of G20 will be a brand ambassador of India's culture, heritage, and tourist destinations.

 State News

3. Nagaland Government Signed MoU with Patanjali Foods for Palm Oil Cultivation

• Nagaland government has signed a Memorandum of Understanding (MoU) with Patanjali Foods Limited for development and area expansion under palm oil cultivation and processing for Zone-II (Mokokchung, Longleng, and Mon districts) of Nagaland under the National Mission on Edible Oils-Oil Palm  (NMEO-OP).
• The MoU was signed by the Director of Agriculture, Nagaland, M Ben Yanthan, and Patanjali Foods Ltd Head-NE Region, Oil Palm Subhas Bhattacharjee at the Directorate of Agriculture, Kohima.
• According to Patanjali Foods Ltd, the signing of the MoU with the Government of Nagaland will certainly bring a big boost for the oil palm growers in the state of Nagaland and the region.
• Patanjali Foods Ltd is already working in the states of Mizoram, Arunachal Pradesh, Assam, and Tripura in the North East.

Business News

4. Foxconn, Vedanta plan tech tie-up with STM for Semiconductor Manufacturing unit in India

• Foxconn and Vedanta are close to inducting European chipmaker STMicroelectronics as the technology partner in their proposed semiconductor chip manufacturing unit in India. Foxconn will be the lead partner in the joint venture (JV) that was announced last February.
• The Vedanta-Foxconn consortium is one of the five applicants seeking government incentives under a $10-billion package announced in December 2021 to promote domestic semiconductor manufacturing.

5. Google Invests $300 million in Artificial Intelligence Startup Anthropic

• Google has invested around $300 million in Anthropic, an artificial intelligence startup whose technology is said to rival OpenAI, the company behind ChatGPT.
• According to the deal, Anthropic has agreed to purchase some of Google’s services to support its technology. The terms of the deal, through which Google will take a stake of about 10 per cent, requires Anthropic to use the money to buy computing resources from the search company’s cloud computing division.

Banking News

6. Asset Repossession Module for Banks and NBFCs launched by Mobicule

• In Mumbai, an industry first for banks and NBFCs, Mobicule, a specialist in debt collection, has announced the release of its mCollect Repossession module.
• As a component of its debt collection and recovery product, the ground-breaking Asset Repossession Solution is a comprehension solution that maps all the intricate steps involved in the repossession of an asset.
• The repossession module will cover and fill in any holes in the entire process, including identification, allocation, digitization and automation of the repo kit, evidencing, yard submission, yard acknowledgment with evidencing, auction, and release process.
• Additionally, this will assist lenders in adhering to strict and dynamic regulatory compliance requirements and in-system tracking.

Important Days 

7. World Cancer Day 2023: 4th February, Know History, Significance and Theme

• Each year on February 4, World Cancer Day is celebrated worldwide. It is believed to have brought everyone together in the fight against cancer.
• World Cancer Day seeks to save millions of lives by educating the public, promoting awareness, and pressuring individuals and governments around the world to take action every year.
• "Close The Care Gap" has been the theme for World Cancer Day for the past three years (2022, 2023, and 2024).

Summits and Conference News

8. MeitY Secretary Inaugurated G20 Cyber Security Exercise and Drill

• The Secretary of the Ministry of Electronics and Information Technology (MeitY), Alkesh Kumar Sharma inaugurated the G20 Cyber Security Exercise and Drill for more than 400 domestic and international participants under India’s G20 presidency.
• The Indian Computer Emergency Response Team (CERT-In) conducted the Cyber Security Exercise and drill in hybrid mode (Physical and Virtual) where international participants from more than 12 countries joined through online mode while domestic participants from diverse sectors such as Finance, Education, Telecom, Ports & Shipping, Energy, IT/ITeS and others attended in-person as well as in virtual mode.

Science and Technology News

9. SpaceX Awarded shared NASA contract worth up to $100 million

• Space Exploration Technologies Corp. is part of a payload contract NASA has awarded for as much as $100 million over a decade. Elon Musk’s rocket launch and satellite operator will share the contract for unspecified “commercial payload processing services" with Astrotech Space Operations LLC, a unit of Lockheed Martin Corp., the government’s space agency announced in a statement.
• The deal is for payload processing, which involves preparing spacecraft to be flown on top of a rocket ahead of a flight to space.
• The uncrewed missions will be launched out of Cape Canaveral, Florida, or Vandenberg Space Force Base in California and the contract could run for as many as 10 years through February of 2033, NASA said.
• The missions that SpaceX and Astrotech will work on involve launching satellites to observe the Earth or spacecraft that visit deep-space destinations in the Solar System, it said.

10. NASA and IBM Partners to Build AI Foundation Models to Advance Climate Science

• IBM has partnered with NASA to gain new findings on Earth’s climate through the power of AI technology. The two organizations will use AI tech developed by IBM together with the large amounts of Earth observation and geospatial data that NASA has available to share.
• Earth observation is the gathering of information about Earth’s physical, chemical, and biological systems, usually through the use of satellite imaging.

Sports News

11. Saudi Arabia to Host Football's 2027 Asian Cup

• The Asian Football Confederation (AFC) announced that the Kingdom of Saudi Arabia (KSA) won the hosting of the 2027 Asian Nations Cup, for the first time in its history, since its inception in 1956.
• This came during the work of the 33rd Congress of the Asian Football Confederation (AFC), February 1, in the Bahraini capital, Manama. Saudi Arabia was the only bid presented at the Congress in Manama after India's withdrawal in December 2022.
• It is noteworthy that Qatar will host the next edition of the Asian Football Cup, from June 26 to July 16, 2023.

Miscellaneous News

12. NIA Launched ‘Pay As You Drive’ Vehicle Insurance Policy

• New India Assurance (NIA) has launched a ‘Pay as You Drive’ (PAYD) policy, which offers a comprehensive motor insurance policy that charges a premium based on the usage of the vehicle. The policy has two components- Third Party cover and own-damage cover.
• The policy comes with various benefits. For instance, the customer can save money through discounts on renewal premiums, provided the vehicle runs within the specified kilometers.
• The discount applied for the ‘Pay as You Drive’ is basic own damage premium.
• In addition, the coverage will continue for the policy’s remaining duration even if the vehicle has been driven beyond the threshold limit.
• India’s largest non-life insurance firm informed that the clients could avail of a discount on the renewal albeit at a lower applicable range.

Important Current Affairs of 04th  February 2023

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Pervez Musharraf, Former Pakistani General & President, Dies in Dubai at 79

05 February 2023
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Pervez Musharraf, Former Pakistani General & President, Dies in Dubai at 79

Pakistan’s former president Pervez Musharraf passed away in Dubai at the age of 79 due to a prolonged illness. Musharraf, who was admitted to a hospital in Dubai, was shifted to the Armed Forces Institute of Cardiology (AFIC) in Rawalpindi earlier.

Musharraf, who was in Dubai since March 2016, was undergoing treatment for amyloidosis. It is a rare disease that occurs when an abnormal protein, called amyloid, builds up in your organs and interferes with their normal function.

Musharraf was the tenth president of the South Asian nation after the successful military coup in 1999 and 7th top general from 1998 to 2007.

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The Charges Against Musharraf:

Musharraf, 78, was facing treason charges for suspending the Constitution in 2007 over the imposition of an extra-constitutional emergency, a punishable offence for which he was indicted in 2014.

About Musharraf & His Timeline:

• Musharraf was born on August 11, 1943, in Delhi and completed his early education at St Patrick’s High School in Karachi. The former president pursued higher education at Forman Christian College in Lahore.

• A retired General, Musharraf was a veteran of the 1965 and 1971 Indo-Pakistan wars.

• He assumed power after engineering a successful military takeover of the Pakistani government in 1999.
• In 2002, he won a general election which was widely reported as almost certainly to have been rigged.
• Notably for India, Musharraf made some strides towards solving the Kashmir question and move towards peace. In 2006, he told  that Pakistan could be willing to give up its claim on Kashmir if India agreed to a self-government plan.
• Musharraf, who ruled Pakistan from 1999 to 2008, was declared a fugitive in the Benazir Bhutto murder case and Red Mosque cleric killing case.
• When Nawaz Sharif was elected in 2013, he initiated high treason charges against Musharraf who was convicted and sentenced to death in 2019. His death sentence was eventually struck down by the Lahore high court which had declared the Sharif government’s actions unconstitutional.

India Surpasses Japan to become 3rd Largest Auto Market Globally

07 January 2023
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India Surpasses Japan to become 3rd Largest Auto Market Globally

In a major development, India has surpassed Japan in terms of auto sales last year to become the third-largest auto market globally for the first time. India’s total sales of new vehicles stood at around 4.25 million units, based on preliminary results, topping the 4.2 million sold in Japan. While new vehicles that got delivered in India totaled 4.13 million during the period of January – November 2022, according to Society of Indian Automobile Manufacturers’ data, December’s sales volume reported by Maruti Suzuki, India’s largest carmaker, led the total to hit the 4.25 million units mark. The figure for sales of new vehicles in India may witness even bigger rise as the country further expects inclusion of pending fourth-quarter sales data for commercial vehicles, along with year-end results yet to be released by Tata Motors and other automakers.

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Impressive Progress In Indian auto industry:

The figures are impressive after fluctuations that were witnessed in the Indian auto industry between 2018-2020. From In 2019, volume had fallen even below the 4 million unit mark from the about 4.4 million figure of 2018. A lot of this downfall was a result of the credit crunch that had impacted the nonbank sector that year.

This was followed by the obvious decline in the year 2020 because of the COVID-19 outbreak when vehicle sales fell even lower than the 3 million unit mark. In 2021, the auto sales bounced back to close to 4 million unit again. However, the sales figure was hampered because of shortage of automotive chips.

In 2022, the automotive chip issue began to ease up, paving way for the sector to come to normalcy. Tata Motors, Maruti Suzuki and other automakers could see an increase in sales last year.

A Further Growing Sector:

India is home to 1.4 billion people, and its population is expected to outstrip China sometime this year and continue growing until the early 2060s. Incomes are rising as well.

Only 8.5 per cent of Indian households owned a passenger vehicle in 2021, according to British research firm Euromonitor, meaning there is plenty of room for sales growth. The government has started offering subsidies for EVs amid a trade deficit resulting from petroleum imports.

China Is At The Top, Way beyond The World:

In 2021, China continued to lead the global auto market, with 26.27 million vehicles sold. The US remained second at 15.4 million vehicles, followed by Japan at 4.44 million units.

Downfall of Japan's Auto Sales:

Japan’s auto sales had hit an all-time high of 7.77 million units in the year 1990. The sales have fallen by almost half ever since. And given the country’s dwindling population, there’s little chance of sales to rebound significantly in the future or anytime soon. Japan surpassed by China as the second-largest vehicle market in 2006. China further achieved good growth in the sector and overtook the United States to acquire the top slot for global market size in 2009.