BFSI & Economy

  • India ranked 62nd in the Inclusive Development Index released by the World Economic Forum (WEF).China stood at 26th position and Pakistan is at 47th position in this Index.
  • According to latest survey released by the international rights group Oxfam, richest 1% in India cornered 73% of the wealth generated in country in 2017. The survey shows worrying picture of rising income inequality.
  • India has signed $120 million loan agreement with multilateral lending agency World Bank to help increase access to improved water supply services in peri-urban areas in Uttarakhand. The agreement was signed between Government of India, Government of Uttarakhand and World Bank Board.
  • In its latest World Economic Outlook (January 2018 update) released by International Monetary Fund (IMF), India is projected to grow at 7.4% of its gross domestic product (GDP) in 2018 as against China’s 6.8%.
  • According to Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17 released by Reserve Bank of India (RBI), Mauritius was largest source of foreign investment (FDI) in India. The census yields carry comprehensive information on market value of foreign liabilities and assets of Indian companies arising on account of FDI, ODI and other investments.
  • Digital payments startup Paytm has introduced ‘Paytm for Business’ app for merchants and businesses to to accept payments instantly for zero charges.
  • India’s largest lender State Bank of India (SBI) has announced that it will hire over 9,500 people for customer support and sales functions. This comes after the bank’s employee strength had gone down by over 10,000 during the current fiscal after its merger with associate banks. The introduction of digital banking has reportedly reduced the requirement of administrative staff.
  • The Central Bureau of Investigation (CBI) has registered 22 cases against Punjab National Bank (PNB) officials for fraudulently processing loans causing a loss of about ₹80 crore.
  • State-owned Oil and Natural Gas Corporation ONGC is going to acquire the government’s entire 51.11% stake in Hindustan Petroleum (HPCL) for ₹36,915 crore.
  • The GST Council has decided to put 29 handicraft items in the 0% tax slab and reduce rates on 53 services.
  • Facebook-owned messaging service WhatsApp is going to launch its digital payments feature in India next month.WhatsApp is working with State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank to integrate its Unified Payments Interface (UPI)- based payments platform.
  • Thomson Reuters Corp today published its debut “Top 100 Global Technology Leaders” list with Microsoft Corp in the no. 1 spot, followed by chipmaker Intel Corp and network gear maker Cisco Systems Inc.
  • Paytm Payments Bank Savings Account holders can now order physical debit cards from the Paytm app. Earlier the bank provided only a Digital Rupay card which was linked to a user’s Paytm Payments Bank savings account.

International

  • India today became the 43rd member of the Australia Group, which counters the export of material, equipment and technologies that could create chemical and biological weapons.
  • The 10th Global Forum for Food & Agriculture was recently held in Berlin (Germany).India was represented by Minister of State (MoS) for Agriculture & Farmers Welfare, Gajendra Singh Shekhawat.Theme of 10th Global Forum for Food & Agriculture 2018 : “Shaping the future of livestock – sustainably, responsibly, efficiently
  • The US government has officially shut down after the Senate failed to agree on a bill to fund the government until February 16, causing the fourth government shutdown in 25 years.
  • Finance Minister Arun Jaitley today performed the ‘Halwa’ ceremony to mark the commencement of the printing process for Budget 2018-19.
  • Technology giant Apple has topped Fortune magazine’s list of the ‘World’s Most Admired Companies’ for 2018. E-commerce giant Amazon has retained its second spot, followed by Google’s parent Alphabet.

Sports

  • Defending champions India defeated Pakistan by 2 wickets to clinch the 5th Blind Cricket World Cup 2018.

Science and Technology

  • India has successfully test-fired its nuclear capable surface-to-surface Agni-5 ballistic missile from a test range off the Odisha coast.
  • Indian Naval Ship Vikramaditya, the Indian Navy’s largest ship and its sole aircraft carrier was formally affiliated to the Indian Army’s Bihar Regiment.
  • American electronic commerce and cloud computing company Amazon has launched a checkout-free hi-tech grocery store called ‘Amazon Go’ in Seattle, US. It uses ceiling-mounted cameras to identify each customer and track what items they select, eliminating the need for billing. The purchases are billed to customers’ credit cards when they leave the store.

National & Business

  • Indian Air Force will showcase the indigenously developed weapon system integrated helicopter Rudra for the first time in the Republic Day parade this year.
  • The Electronic Voting Machines (EVMs) to be employed during the bypoll in Rajasthan’s Ajmer, Alwar and Mandalgarh constituencies will carry photographs of candidates.
  • The Maharashtra government has approved a Rs 4,000-crore project aimed at promoting climate-resilient agriculture, to be partially funded by the World Bank.It will roll out in 2018-19 and continue till 2023-24.
  • President Ram Nath Kovind has felicitated 112 exceptional women achievers at Rashtrapati Bhawan in New Delhi. These women achievers ‘FIRST LADIES’ are those who are first to set milestone of achievement in their respective fields. This ‘First Ladies’ is second leg of the ‘100 Women Achievers’ campaign of the Ministry.
  • President Ram Nath Kovind has appointed Election commissioner Om Prakash Rawat (64) as new Chief Election Commissioner. He will succeed Achal Kumar Joti who has retired from post.
  • German auto major Mercedes-Benz has unveiled India’s first BS-VI-compliant S Class car produced at its Pune facility. The BS-VI-compliant S Class car was unveiled more than two years ahead of Government’s deadline of April 2020 for switching to new BS-VI emission norms.
  • India announced setting up of $350 million Solar Development Fund for financing solar projects under the International Solar Alliance (ISA).
  • Today is 121st birth anniversary of Indian Nationalist and Freedom Fighter Subhash Chandra Bose was born on the January 23 in the year 1897, in Cuttack, which was then a part of Bengal province