Today's Current Affairs 8th January 2024

INTERNATIONAL

Kyrgyzstan designates the snow leopard as its national symbol.

• Kyrgyzstan, in Central Asia, designates the snow leopard as its national symbol, showcasing a deep dedication to conservation and ecological harmony.
• President Zhaparov has directed the Cabinet of Ministers to actively recognize the snow leopard as a national symbol and take measures to protect its population and the ecosystems it inhabits.
• President Sadyr Zhaparov, through a signed decree, emphasized the snow leopard’s role not only as a symbol of natural wealth and cultural prosperity but also as a vital indicator of the stability and health of the mountain ecosystems that cover a substantial portion of the global territory.

Sheikh Hasina secures her fifth term in the 2024 Bangladesh Election despite opposition boycott.

• In a momentous turn of events, Bangladesh’s Prime Minister Sheikh Hasina has been re-elected for a fifth term, marking a significant milestone in the country’s political landscape. According to the Election Commission and reports from various TV stations, the Awami League secured 216 seats out of 299 in the parliamentary election.
• The ruling Awami League, under Hasina’s leadership, has triumphed once again, securing more than half of the parliamentary seats. This victory reaffirms Sheikh Hasina’s position as the world’s longest-serving female head of government.

 NATIONAL

West Bengal attains Geographical Indication (GI) tags for distinct products, bolstering local economies.

• West Bengal secures Geographical Indication (GI) tags for cultural and agricultural heritage, a significant achievement under the National GI Drive Mission.
• Recognition of Sunderbans Honey – ‘Mouban’: The coveted GI tag has been granted to Sunderbans honey, locally known as ‘Mouban,’ collected by the ‘Mouli’ community.
• Black Nunia Rice – ‘Prince of Rice’: Hailing from Jalpaiguri district, Black Nunia rice, known as the ‘Prince of Rice,’ has earned its GI tag. This indigenous rice variety adds to the agricultural richness of the state.
• Distinctive Sarees – Tangail, Gorod, and Kadiyal: West Bengal Forest Development Corporation Limited (WBFDCL) applied for the GI tag for Tangail, Gorod, and Kadiyal sarees, reflecting the rich textile heritage of the region. Mirzapur in Murshidabad district is renowned for producing exclusive Kadiyal sarees.

 Tamil Nadu unveils its vision for a $1 trillion economy in GIM 2024.

• Chief Minister MK Stalin announces Tamil Nadu's aspiration for a $1 trillion economy by 2030 at the Global Investors Meet in Chennai on January 7.
• It strategically aims for $3.8-4.3 trillion in investments to attract FDI and boost local expansion. The goal is holistic growth, ensuring prosperity across all regions with a focus on climate consciousness and sustainability in all initiatives.
• Priorities include human capital growth, innovation through industry-academia partnerships, fostering an industry-friendly climate, advocating transparent governance, and developing sustainable infrastructure.

 OBITURY

Four-time FIFA World Cup champion Mario Zagallo from Brazil has passed away 

• Mario Zagallo, who won two World Cups as a player, one as a coach and another as an assistant coach for Brazil, has passed away at the age of 92.

About Mario Zagallo :       

• Zagallo began his career as a striker with Rio's America and later also played for Flamengo and Botafogo, one of the few Brazilian clubs which rivalled Pele's Santos in the 1960s.
• He holds the record for World Cup titles in general with four titles in total.
• He also holds the record for World Cup finals with six participations.
• He was the first person to win the FIFA World Cup as both a manager and as a player, winning the competition in 1958 and 1962 as a player, in 1970 as manager., and in 1994 as assistant manager.
• Zagallo also coached Brazil in 1974 (finishing fourth) and in 1998 (finishing as runners-up) and was a technical assistant in 2006.

  APPOINTMENS & RESIGNATIONS

The Emir of Kuwait appoints Sheikh Mohammed Sabah al-Salem al-Sabah as the Prime Minister of Kuwait.

• Kuwait's new emir Sheikh Meshal al-Ahmad al-Sabah appointed Sheikh Mohammed Sabah al-Salem al-Sabah as the country's prime minister (PM) of kuwait.
• He succeeds Sheikh Ahmad Nawaf AI Ahmad AI Sabah.

About Sheikh Mohammed Sabah al-Salem al-Sabah :

• Sheikh Mohammed Sabah al-Salem al-Sabah is a Kuwaiti politician, economist, and diplomat.
• In 1993 he was appointed as the ambassador of Kuwait to the United States, serving until 14 February 2001, at which point he became the Minister of Foreign Affairs.
• He held the position of Minister of Finance from January 2003 until July 2003.
• On 11 February 2006, he was appointed Deputy Prime Minister, continuing also as the Minister of Foreign Affairs.

About Kuwait :

• Emir : Mishal Al-Ahmad Al-Jaber Al-Sabah
• Prime Minister : Mohammad Sabah Al-Salem Al-Sabah
• Capital : Kuwait City
• Currency : Kuwaiti dinar

 IMPORTANT DAYS

ANC observes Foundation Day on January 8, 2024, marking its establishment in 1912. 

• The African National Congress (ANC) celebrates its Foundation Day on January 8, recalling its establishment in 1912. This day signifies the ANC's enduring commitment to uniting African people and championing their rights and freedoms.
• The ANC, initially founded as the South African Native National Congress (SANNC) in Bloemfontein, symbolizes a landmark event in Africa’s struggle against centuries of exploitation and humiliation. Formed in a time of rapid change, with the discovery of diamonds and gold in South Africa, the SANNC aimed to counter oppressive laws and taxes designed to dispossess Africans of their land. The notorious 1913 Land Act, which severely restricted African land rights, catalyzed the SANNC’s activism.
• Since the transition to democracy in April 1994, the ANC has been the governing party of South Africa. Its journey from an organization fighting for basic rights to leading the nation signifies a monumental shift in the country’s political landscape.

 BANKING AND ECONOMY

RBI implements safeguards for individual investors in case of issuer default on short-term financial instruments.

• RBI ensures minimal losses for individual investors in case of issuer defaults on short-term financial instruments, effective April 01, 2024.

Key Highlights :

• Individual Investor Limits : Individual investors' investment in short-term Commercial Papers (CPs) and Non-Convertible Debentures (NCDs) is now capped at 25% of the issue size.

Previously, there were no specific limits for individual investors' investments in such instruments.

• Applicability of the Rule : The 25% limit applies to the total subscription by all individuals, including Hindu Undivided Families (HUF), in any primary issuance of CPs or NCDs.
• Information Disclosure by Issuers : Moreover, issuers of non-convertible debentures (NCDs) and commercial papers (CPs) are required to provide information on any payment default via a variety of means.

Paytm collaborates with Ayodhya Nagar Nigam to enable mobile payments citywide.   

• One97 Communications, the owner of Paytm, signs an MoU with Ayodhya Nagar Nigam to introduce mobile payments using Paytm's QR code, Soundbox, and card machines for Nagar Nigam facilities.
• This is aimed at providing seamless mobile payment services during the inauguration of the Ram Mandir in the city.
• With this, the company will enable mobile payments at various departments in collaboration with Ayodhya Nagar Nigam.
• Through this MoU, the company will also deploy Paytm card machines at cash collection centres under State Nagar Nigam departments.
• This MoU was signed in presence of Girish Pati Tripathi, Mayor, Ayodhya Nagar Nigam.

About Paytm : 

• Founded : August 2010
• Headquarters : Noida, Uttar Pradesh, India
• Founder & CEO : Vijay Shekhar Sharma