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Thursday, January 11, 2024

DAILY GK 31 DEC

 DAILY GK 31 DEC

1.         MAHARASHTRA TOPS WITH HIGHEST NUMBER OF REGISTERED INVESTORS

          According to recent data from the National Stock Exchange (NSE), Maharashtra tops the list of states with the highest number of registered investors.

          Uttar Pradesh (UP), with 89.47 lakh investors, has surpassed Gujarat (76.68 lakh) and secured the 2nd position on the list.

          Bihar, Uttar Pradesh and Madhya Pradesh have recorded the highest growth among large states with a rise of 36.6%, 33.8%, and 28.9%, respectively.

          For the first time, the market capitalisation of listed companies on the NSE has surpassed the USD 4 trillion (Rs 334.72 trillion) mark.

           At present, India is ranked 4th in the world in terms of market capitalisation, following the United States of America(USA), China and Japan.

          NSE is now ranked as 3rd largest exchange in the world based on number of trades in the cash market segment. NSE accounts for a 10.8% share globally.

 

2.         NTPS-“ONE NATION-ONE PASS”

          Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC) launched the National Transit Pass System (NTPS), envisioned as a One National One Pass system, will enable seamless transportation of timber, bamboo, and other forest produce across India.

          At present, state-specific transit rules govern the issuance of transit permits(TP) of timber and forest produce; NTPS will replace this with a uniform, pan-India approach.

 

3.         INTEREST RATE ON SMALL SAVING SCHEMES FOR Q4FY24

          Department of Economic Affairs-DEA (Budget Division), Ministry of Finance released the interest rates for Small Savings Schemes applicable in the January-March 2024 quarter (Q4FY24) i.e. from January 1, 2024 to March 31, 2024.

          As per it, the interest rate on the SukanyaSamriddhi Account Scheme (SSAS) increased by 20 basis points from 8% to 8.2% for Q424.

          The interest rate on three-year time deposits also increased by 10 basis points from 7% to 7.1%.

          The interest rates for all other small savings schemes will remain unchanged from the rates offered in Q3FY24 (October-December 2023).

 

4.         RBI EXTENDS PAYMENTS INFRASTRUCTURE DEVELOPMENT FUND SCHEME TILL 2025

          The Reserve Bank of India (RBI) has revised the Payments Infrastructure Development Fund (PIDF) scheme and extended the deadline by two years, i.e., upto December 31, 2025.

          The PIDF scheme has been enhanced to increase the scope of beneficiaries and acceptance infrastructure

          PIDF scheme was introduced by RBI in 2021 for a period of 3 years (until December 2023).

          The scheme aims to encourage deployment of payment acceptance infrastructure such as physical Point of Sale (PoS) terminals, Quick Response (QR) codes by adding 30 lakh touch points every year..

 

5.         INDIA’S INSURANCE PENETRATION DROPS TO 4% IN 2022-23

          According to the Insurance Regulatory and Development Authority of India (IRDAI)’s Annual Report 2022-23, the overall insurance penetration in India reduced from 4.2% in 2021-22 to 4% in 2022-23.

          Life insurance penetration has reduced marginally from 3.2% in 2021-22 to 3% in 2022-23 while non-insurance penetration remained unchanged at 1%.

          Premium income of life insurance companies rose by 12.98% to Rs 7.83 lakh crore in FY23 while the premium income of general insurers increased by 16.4 per cent to Rs 2.57 lakh crore.

          IRDAI Chairperson– Debasish Panda

          Headquarters– Hyderabad, Telangana

 

6.         RBI CANCELS LICENCE OF GUJRAT CO-OPERATIVE BANK MAHARASHTRA’S SAHAKARI BANK

          Reserve Bank of India (RBI) has cancelled the banking license of TheBotad Peoples Co-operative Bank Ltd., Botad, Gujaratbut granted the non-banking institution licence.

           It also cancelled the license of AdarshMahilaNagariSahakari Bank Maryadit, Aurangabad, Maharashtra.

          Depositors receive a deposit insurance claim, up to Rs 5,00,000 (monetary ceiling), upon liquidation, subject to Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961.

          Reason behind Cancellation: i.Inadequate capital and earning prospects,Non-compliance with Banking Regulation Act, 1949.

 

7.         SEVENTH FERRY CRAFT ‘MANJULA‘ (YARD 786) DELIVERED TO INDIAN NAVY

          Kolkata (West Bengal) based The Shalimar Works (1980) Limited has delivered the seventh 250 Men Ferry Craft ‘Manjula’ (Yard 786) to the Indian Navy (IN).

          Manjula(Yard 786) Ferry Craft was built under the ‘Make in India’ initiative of the Ministry of Defence (MoD) with all major and auxiliary equipment or systems sourced from indigenous manufacturers.

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