Banking: Entrepreneurship Conclave in Pune

Banking Current Affairs: January 21 - February 20, 2025

National News

Entrepreneurship Conclave in Pune

• Union Minister Rajiv Ranjan Singh inaugurated the Entrepreneurship Development Conclave in Pune.
• The Department of Animal Husbandry and Dairying (DAHD) organized the event under the theme Empowering Entrepreneurs: Transforming Livestock Economies.
• 40 projects launched, totaling ₹545.04 crore.
• Two compendiums detail success stories of AHIDF and NLM beneficiaries.
• The NLM Entrepreneurship Development Programme (NLM-EDP) Dashboard launched.
• Updated NLM Operational Guidelines 2.0 shared.
• Maharashtra, Karnataka, and Tamil Nadu are the top performing states under the AHIDF.
• Karnataka, Telangana and Madhya Pradesh were recognized as top performing states under the Entrepreneurship Programme.
• Canara Bank, SBI, and HDFC Bank were recognized for their credit support.
• The DAHD declared January 14 to February 13 as Animal Husbandry and Animal Welfare Month.

AEC Reconstituted

• The central government reconstituted the Atomic Energy Commission (AEC).
• The new members include TV Somanathan, Manoj Govil, Ajit Doval (National Security Advisor), and Vikram Misri (Foreign Secretary).
• Ajit Kumar Mohanty, the Secretary of the Department of Atomic Energy, became the AEC Chairman.
• Policies for the Department of Atomic Energy are formulated by the AEC.

TRAI Releases Revised Draft TTO

• The Telecom Regulatory Authority of India (TRAI) released the Draft Telecommunication Tariff (70th Amendment) Order, 2024.
• It proposes aligning broadband tariffs for Public Data Offices (PDOs) under PM-WANI with retail broadband (FTTH) tariffs.
• TRAI also released a revised Draft Telecommunication Tariff (71st Amendment) Order.
• Broadband tariff (FTTH) for PDOs under PM-WANI should not exceed twice the retail broadband (FTTH) tariff for corresponding capacity.
• The Department of Telecommunications (DoT) amended the PM-WANI framework.
• The requirement for PDOs to enter commercial agreements with TSPs for internet connectivity is removed.
• Launch of PM-WANI by the Department of Telecommunications was in 2020.

Telecom Regulatory Authority of India (TRAI)

• Anil Kumar Lahoti serves as the current Chairman.
• The headquarters are located in New Delhi.
• TRAI was established in 1997.

New Observatory in West Bengal

• The Department of Science & Technology inaugurated India's sixth astronomical observatory in West Bengal, and first in Eastern India at Panchet Hill in Purulia.

CSGC 2.0 Launched

• The Ministry of Electronics & Information Technology (MEITY) launched the second edition of the Cyber Security Grand Challenge (CSGC 2.0).
• It aims to enhance India's cybersecurity capabilities; Data Security Council of India (DSCI) will implement it.
• ₹6.85 crore is the total prize money.
• Participants will develop solutions in 6 areas, and the challenge will have 4 stages.
• A total of 36 startups will be selected with each receiving ₹5 lakh, and 18 startups with each obtaining₹10 lakh. Winners can each receive ₹25 lakh.
• Platinum Winner receives ₹1 crore, Gold Winner ₹50 lakh and Silver Winner ₹25 lakh.

NDRF Raising Day

• The 20th Raising Day of the National Disaster Response Force (NDRF) was celebrated at its 10th Battalion in Kondapavuluru, Andhra Pradesh with Union Minister Amit Shah attending.
• Foundation stone laid for an Integrated Indoor Shooting Range at the National Police Academy (NPA) in Hyderabad, Telangana projected to cost ₹27 crore.
• Inauguration of the Regional Forensic Science Laboratory (RFSL) Building in Tirupati, Andhra Pradesh.

Swachh Survekshan 2024 Toolkit Launched

• Union Minister Manohar Lal Khattar launched the toolkit for the 9th edition of the Swachh Survekshan (SS).
• The SS 2024 introduces the Super Swachh League, including 12 cities.
• Toolkit indicators are in 10 buckets
• Cities are categorized by their city category, like Very Small, Small, Medium, Big and Million Plus alongside an allocation of the respective cities within each category.

New Launch pad for ISRO

• The Union Cabinet approved construction of a new Launchpad (TLP) at the Satish Dhawan Space Centre (SDSC) of ISRO in Sriharikota.
• The project costs ₹3,984.86 crore and completion is estimated in 4 years.
• The Launchpad will support Next Generation Launch Vehicles (NGLV) and Launch Vehicle Mark 3 (LVM3) vehicles.
• It will enhance India's space capabilities, enabling the launch of heavier spacecraft (30,000 tonnes to low Earth orbit against the current 8,000 tonnes).

CSIR Mega Innovation Complex Launched

• Union Minister Dr Jitendra Singh inaugurated India's first CSIR Mega Innovation Complex in Mumbai.
• The complex includes 24 incubation labs and office spaces for startups, MSMEs, and industries.
• Dr Singh stated India has the third-largest global startup ecosystem, with over 100 unicorns.

Council of Scientific and Industrial Research (CSIR)

• Dr. N. Kalaiselvi is the Director General.
• Headquarters in New Delhi.
• Established in 1942.

Entity Locker launched

• The National eGovernance Division developed a digital platform named 'Entity Locker' for business document management.
• The platform is hosted on a secure cloud.
• It offers real-time document access, 10 GB of encrypted cloud storage, and digital signature authentication.
• The system uses Aadhaar-authenticated role-based access management and consent-based mechanisms for securing information.

Spectrum refarming for 5G

• Refarming of the 687 megahertz (MHz) spectrum, worth ₹2 lakh crore, from government ministries and the ISRO is approved to facilitate 5G and 6G services.
• 328 MHz will be released immediately, with the remainder released in phases by 2030.
• The refarming aims to address increased telecommunication spectrum demand, expected to reach 2000 MHz by 2030.
• The total available spectrum will increase from 900 MHz to 1,587 MHz, reducing the gap to 413 MHz.

Rubber Board Unveils New Projects

• The Rubber Board launched iSNR (Indian Sustainable Natural Rubber) and INR Konnect.
• iSNR aims to align the Indian rubber production sector with European Union Deforestation Regulation (EUDR) standards, providing traceability certification.
• INR Konnect links growers of untapped rubber holdings with interested adopters to improve plantation productivity.
• Awards were presented to top performers of mRube (the digital marketing platform for Natural Rubber (NR).
• Thailand, Indonesia and India are the Top 3 rubber producing country
• Kerala, Tamil Nadu and Karnataka are the Top 3 rubber producing states in India.

Startup India Completes 9 Years

• The Startup India initiative, launched in 2016, has completed nine years; it aims to promote startup innovation.
• January 16 is celebrated as National Startup Day.
• The DPIIT recognized over 1.59 lakh startups.
• India is the world's third-largest startup ecosystem.
• Major Hubs for startups in India include Bengaluru, Hyderabad, Mumbai, and Delhi.
• DPIIT reported that Startup funding in India increased to $115 billion in 2024 from $8 billion in 2016.

Conclave on Livestock Development

• Union Minister Rajiv Ranjan Singh inaugurated the "Conclave on Dialogue for Holistic Development of Livestock Sectors in the North-East Region" in Shillong, Meghalaya.
• During the event, 15 Entrepreneurship Development Projects (EDPS) under the National Livestock Mission (NLM), worth ₹10.93 crore, were launched.
• Four Fodder Farmer Producer Organizations (FPOs) were launched.
• Under the National Programme for Dairy Development (NPDD) and Infrastructure Support 29 projects (worth ₹40 crore) were approved.
• The NLM Entrepreneurship Development Programme has approved 245 projects in NER (184 piggery, 45 goat, 16 poultry).

₹3028 crore for disaster mitigation

• Union Minister Amit Shah chaired an HLC, that approved ₹3,027.86 crore for disaster mitigation projects. ₹2,022.16 crore approved as catalytic assistance to 49 districts across 12 drought-prone states.
• ₹186.78 crore was approved for lightning safety projects in 10 states.
• ₹ 818.9 crore was approved for forest fire risk management in 144 high-priority districts across 19 states.

BRICS Youth Council meeting in India

• The Department of Youth Affairs will organise the BRICS Youth Council Entrepreneurship Working Group Meeting in March 2025.
• The theme of the meeting is "Youth Entrepreneurship for Sustainable Growth".
• Around 45 youth representatives from the BRICS countries will attend the meeting.

WAVES Summit Launched

• Union Ministers Ashwini Vaishnaw and Gajendra Singh Shekhawat launched multiple initiatives at the World Audio Visual & Entertainment Summit (WAVES) at the National Media Centre, New Delhi.
• The WAVES Bazaar is a global e-marketplace connecting Indian creative talent with international markets.
• They launched the WAVES Awards and three Create in India challenges such as
  • Resonate: The EDM Challenge
  • Make The World Wear Khadi
  • Wah Ustad

MoMSME enables MSMEs to Join ONDC

• The MoMSME has partnered with the Open Network for Digital Commerce (ONDC) to onboard small and micro enterprises (SMEs) onto the network. They launched the Trade Enablement and Marketing (TEAM) Initiative designed to help Small and Micro Enterprises (SMEs) join ONDC.
• The initiative, with an outlay of ₹277.35 crore over 3 years, aims to onboard 5 lakh MSMEs, 50% of which are women-led businesses.

Open Network for Digital Commerce (ONDC)

• Ram Sewak Sharma is the Non-Executive Chairperson.
• Headquarters are in New Delhi.
• Established in 2021.

India celebrates 76th Republic Day

• India celebrated its 76th Republic Day at Kartavya Path in New Delhi.
• The theme of the event was 'Swarnim Bharat: Virasat aur Vikas' (Golden India Heritage and Development).
• Prabowo Subianto, the President of Indonesia, was the Chief Guest.
• A 160-member marching contingent and a 190-member band contingent from Indonesia participated in the parade for the first time.
• Lieutenant General Bhavnish Kumar, General Officer Commanding, Delhi Area, commanded the parade.
• A 148-member all-women marching contingent of the Central Reserve Police Force also participated in the parade.

CSIR-IITR celebrates 60 years

• The CSIR Indian Institute of Toxicology Research (CSIR-IITR) celebrated its 60th Foundation Day in Lucknow, Uttar Pradesh.
• The CSIR-IITR is appreciated for its effort in investigating a mysterious disease in Rajouri, Jammu & Kashmir.
• Called for CSIR-IITR's expanded reach to achieve a "toxin-free India" by 2047.
• The CSIR-IITR supports more than 30 startups and 55 MSMES through various initiatives.

CSIR-Indian Institute of Toxicology Research (CSIR-IITR)

• Bhaskar Narayan is the Director.
• Headquarters- Lucknow, Uttar Pradesh (UP).
• Established in 1965.

Unified Pension Scheme launched

• The MoF has notified the Unified Pension Scheme (UPS) for central government employees.
• The scheme will come into effect from April 2025 and provide a guaranteed pension to retirees.
• The UPS is an upgrade of the National Pension Scheme (NPS), launched in 2004, and was recommended by a TV Somanathan committee in April 2023.
• It is voluntary for existing NPS employees and those opting for the Voluntary Retirement Scheme (VRS).
• Under the UPS Employees will contribute 10% of their basic salary and Dearness Allowance (DA).
• The central government will contribute 18.5%. Maharashtra was the first state to implement the scheme.

eCoo 2.0 System launched

• The DGFT has launched the enhanced Certificate of Origin (eCoO) 2.0 System to simplify the certification process for exporters.
• The platform processes over 7,000 eCoOs daily, connecting 125 issuing agencies, over 650 issuing officers, and all Indian exporters.
• The system offers multi-user access, enabling exporters to authorise multiple users under a single Importer Exporter Code (IEC).
• Aadhaar-based e-signing along with digital signature tokens.

Funds for Odisha villages

• 100 villages in forest areas of Odisha directed to manage and protect funds for the forest and lands.
• Each village will receive ₹15 lakh annually and ₹1 lakh to technical agencies for plan preparation.
• Funds will be transferred to the gram sabha bank accounts instead of gram panchayats for the first time.
• Maharashtra has the highest number of recognized Community Forest Resource Rights (CFRR), with 8,661 villages granted titles (as of November 2024).

Ethanol Procurement Price Revised

• The Union Cabinet has revised ethanol procurement prices for Public Sector Oil Marketing Companies (OMCS) for the Ethanol Supply Year (ESY) 2024-25, under the Ethanol Blended Petrol (EBP) Programme.
• The price of ethanol from C Heavy Molasses (CHM) increased to ₹57.97 per litre from ₹56.58.
• OMCs have achieved an average ethanol blending of 14.6% as of ESY 2023-24, to 707 crore litres.
• The EBP Programme has resulted in foreign exchange savings worth ₹1.1 lakh crore and substitution of 193 lakh metric tonnes (MT) of crude oil.

Labour Reforms Meeting

• Union Minister Dr Mansukh Mandaviya chaired a 2-day labour ministry meeting in New Delhi.
• All 36 States/UTs are expected to complete the pre-publication of unified draft rules by March 31 2025.
• During the meeting, he launched Occupational Shortage Index (OSI) and State/UT Microsites under the e-Shram portal, which aim to match the labor demand-supply and enhance employment outcomes.

India showcases WASH innovation at WEF

• A session titled "India's (Water, Sanitation, and Hygiene) WASH Innovation: Driving Global Impact in Climate and Water Sustainability" was held at the India Pavilion of the World Economic Forum 2025.
• According to Union Minister CR Patil, 79.66% of rural households have access to safe drinking water as a result of the Jal Jeevan Mission, saving 55 million hours per day on fetching water.
• According to the WHO, the Swachh Bharat Mission has empowered women, ensured their safety, and prevented the deaths of 3 lakh children less than five years old.

Cargo Handled by Indian ports

• According to Union Minister Sarbananda Sonowal in his written reply to Rajya Sabha, Indian ports handled 1,540.23 million tonnes of cargo in FY24, up from the 1,434.3 million tonnes in FY23;
• Cargo handled by major ports totalled 819.2 million tonnes
• Cargo handled by non-major ports amounted to 721 million tonnes

NUCFDC office inaugurated

• Union Minister Amit Shah inaugurated the corporate office of National Urban Cooperative Finance and Development Corporation (NUCFDC) in Mumbai.
• RBI has approved the establishment of NUCFDC as an umbrella organisation for urban cooperative banks (UCBs).
• Functions and activities of NUCFDC, functioning under RBI, includes supporting approximately 1,500 UCBs by providing IT and operational assistance, and acting as a self-regulatory organisation.

NIELIT Launches Chip Design CoE

• MeitY inaugurated a National Institute of Electronics and Information Technology (NIELIT) Centre of Excellence (CoE) in Chip Design at its Noida campus.
• Semiconductor design and development capabilities launched with SoCTeamup Semiconductors Pvt Ltd.
• The NIELIT COE in Chip Design offers facilities for research, innovation, and training in VLSI (Very Large-Scale Integration).

Al-driven center for agritech

• IIT Indore, in collaboration with the Ministry of Electronics and Information Technology launched 'AgriHub', an Al-driven Centre of Excellence (COE) for the agritech sector to develop for innovative solutions.
• AgriHub is funded by Meity and the Madhya Pradesh government for 5 years and led by Professor Aruna Tiwari and Professor Pavan Kankar.

Republic Day celebrations- Additional Details

• India celebrated its 76th Republic Day with the theme Swarnim Bharat: Virasat aur Vikas'.
• The Republic Day parade included tableaus from government states/UTs and ministries/departments, including one from Haryana and one from Uttar Pradesh.
• A tri-services tableau was displayed, representing the coordinated efforts of India’s three armed forces for the first time.
• Government school bands (including two all-girl teams) performed in the parade in the first time.
• The folk dance from Himachal Pradesh, was performed for the first time by artists.
• The DRDO showcased some of its national security innovations.
• The celebrations concluded with the Beating Retreat ceremony at Vijay Chowk, New Delhi.

Four wetlands added to Ramsar List

• Four new wetlands added to the Ramsar Convention list:
  • Sakkarakottai Bird Sanctuary (Tamil Nadu)
  • Therthangal Bird Sanctuary (Tamil Nadu)
  • Khecheopalri Wetland (Sikkim, 1st ramsar site)
  • Udhwa Lake (Jharkhand, 1st ramsar site)
• The total is now 89 Ramsar sites in India, with Tamil Nadu having highest number of Ramsar sites.
• Worldwide, total number of Ramsar wetlands is 2,529.
• India joined the Ramsar Convention in 1982.

North East Investment Roadshow

• To attract investment to North eastern States Ministry of Development of North Eastern Region (MDONER) a trade and investment roadshow held in Chennai.

SwaRail SuperApp Launched

• 'SwaRail', a one-stop destination for a comprehensive range of railway services, has been launched on the Ministry of Railway and developed by by the Centre for Railway Information Systems (CRIS).

White tiger breeding centre

• The Central Zoo Authority (CZA), under the Ministry of Environment, Forest and Climate Change, has approved the establishment of India's first white tiger breeding center in Rewa, Madhya Pradesh.

Central Zoo Authority (CZA):

• Chairman - Bhupender Yadav.
• Headquarters - New Delhi.
• Established in 1992.

Madhya Pradesh (MP):

• Chief Minister (CM) - Mohan Yadav.
• Governor - Mangubhai Chhaganbhai Patel
• Capital - Bhopal.
• National Parks (NPs) - Kanha NP; Pench NP; Panna NP.

Initiatives by DoT

Union Minister Jyotiraditya M Scindia has launched:

• The Sanchar Saathi mobile app
• The National Broadband Mission (NBM) 2.0
• The Intra Circle Roaming (ICR) facility
• Sanchar Saathi portal recorded 9 crore visits, disconnected 2.75 crore fraudulent mobile connections, and secured 25 lakh lost/stolen devices.
• Chakshu - features to allow users to report Suspected Fradulent Communications ( calls and SMS ) directly mobile logs.
• NBM 2.0: connect the remaining 1.7 lakh villages; ensure 60% of rural households have broadband; achieve fixed broadband download speed of 100 Mbps.
• ICR facility: multiple Telecom Service Providers (TSPs) to use 4G from a single tower across 35,400 villages (BSNL, Airtel, and Reliance Jio).

8th Pay Commission approved

• To revise salary and pension of over 1.2 crore central government employees the Union Cabinet has approved the formation of the 8th Pay Commission.
• This to included 50 lakh government employees and 65 lakh pensioners.
• It is expected to be between 25% and 30%.
• The minimum basic salary increases from ₹18,000 to over ₹40,000 per month.

New scheme for diamond sector

• To enhance competency, ‘Diamond Imprest Authorization (DIA) Scheme’ launched by Department of Commerce, from April 2025.
• Duty-free import of natural cut and polished diamonds with a 10% value is allowed.
• Diamond exporters with Two Star Export House status and $15 million eligible.

Startup Baithak and Baatcheet

• Launched to celebrate the National Startup Day 2025 at Bharat Mandapam in New Delhi.
• Initiatives were launched with the supports of the Department for Promotion of Industry and Internal Trade (DPIIT) and Startup India "Startup Baithak" and "Startup Baatcheet'.

Startup India turns 9th Foundation year

• Union Minister Piyush Goyal launched the Prabhaav Factbook and the Bharat Startup Challenge on the 9th Foundation Day of Startup India.
• In CY24 76 Initial Public Offerings (IPOs) happened.

Digital empowerment initiative

• NITI Aayog have launched a digital literacy initiative partnership with Nasscom Foundation in line with the PM Digital Saksharta Abhiyan.
• Phase I focuses particularly on 60 vulnerable tribal group providing digital learning services.
• Initiated based on Aspirational Districts Programme, launched in 2022 and aligned with the Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMGDISHA).

NMM to become autonomous

• The government has taken the decision to make the National Mission for Manuscripts (NMM) autonomous, with ₹491.6 crores through finance allocation committee.
• Established in 2003, a part of IGNCA

Skill India Programme outlay increased

• The central government aims to merge existing three schemes into one by restructuring the skil India Programme.
• The Cabinet has approved an outlay of ₹8,800 for the programme ( PM Kaushal Vyas Yojana, PM National Apprenticeship Promotion Scheme, Jan Shikshan Sansthan Scheme.

Bharat Mobility Global Expo 2025

• Launched by PM Narendra Modi at Bharat Mandapam in New Delhi.
• Theme is "Beyond Boundaries: Co-creating Future Automotive Value Chain".

The newly launched Vehicle at the expo are

Vehicles launched the Expo

• Vayve: EVA (variants, India's first E- Vehicle)
• EKA Mobility: First stainless steal luxury electric bus.

NAI & NRAA sign EPC

• (NAI) and the National Records and Archives Authority National Archives to strengt cultural and historical ties between the exchange of archival materials.
• NAI: is an archivable Authority
• (NRAA) of Oman

CDAC Noida collaborates for toy industry

• CDAC - Noida for a develope electronics and based control with Creative lab to boost industry.
• This happened With The new letter of intent

BEC supports Pakal Hydro Electric Project

• RECL has signed for term loan agreement Power Development and Construction .
• The expected estemiated of 72,622.67 crore.

Green Finances solution for Indian MSMES

• A $100 Million ( MSMEs) for an agreement has been signed with AFD.
• It Will contribute towards supporting low economy.

India and UK energy Dialogue

• India and UK have agreed to launch a new energy progam the fourth one which include, renewable energy.
• For renewation with OFGEM there is a plan to build a task force.