Daily Current Affairs – 02-02-2025

Tamil Nadu

Swanari TechSprint 3.0 launched

® The Reserve Bank Innovation Hub (RBIH) and Indian Institutes of Management Ahmedabad ( IIMA) Ventures have launched ‘Swanari TechSprint 3.0’ , a program to support women-centric fintech startups in India. ® The program will provide resources, mentorship, grants, and funding to selected startups.

Non performing assets

® Gross non-performing assets (NPAs) of public sector banks ( PSBs ) have declined to 3.12% in September 2024, from 14.98% in March 2018. ® The number of bank branches increased to 1, 60,501 in September 2024. ® The capital adequacy ratio of PSBs has improved by 393 basis points (bps) to 15.43% from 11.45% in March 2015. ® During 2023-24, PSBs recorded their highest ever aggregate net profit of ₹1.41 lakh crore . ® In the last 3 years, PSBs have paid a total dividend of ₹61,964 crore . ® Under the Mudra scheme , women beneficiaries account for 68% of the total. ® Under the PM-SVANidhi scheme , women account for 44% . ® Gross advances of scheduled commercial banks increased to ₹175 lakh crore in March 2024, from ₹8.5 lakh crore in 2004. ® The total number of operative Kisan Credit Card (KCC) accounts reached 7.71 crore as of September 2024, with a total outstanding of ₹9.88 lakh crore. ® MSME advances registered a compound annual growth rate (CAGR) of 15% during the last three years, reaching ₹28.04 lakh crore as of March 2024.

ExTeM Centre of IIT-Madras

® ExTeM Centre at IIT Madras is working on advanced space manufacturing technologies. ® Its research includes 3D-printed buildings, metal foams, and optical fibres in space. ® Also includes other revolutionary methods like Development of concrete construction without water. ® ExTeM’s research will support India’s Gaganyaan mission and future space stations.

India’s FY25 GDP growth forecast

® India’s real GDP growth is projected at 6.4% for FY25 , reaching ₹184.8 lakh crore (at constant 2011-12 prices), according to the National Statistics Office (NSO). ® Nominal GDP growth is estimated at 9.7% , reaching ₹324.1 lakh crore (at current prices). ® Real Gross Value Added (GVA) growth is projected at 6.4% , estimated at ₹168.9 lakh crore. ® Nominal GVA growth is estimated at 9.3% , reaching ₹292.64 lakh crore. ® Private Final Consumption Expenditure (PFCE) at constant prices grew by 7.3% . ® Government Final Consumption Expenditure (GFCE) at constant prices grew by 4.1% . ® Gross Fixed Capital Formation (GFCF) is projected to grow at 6.4% . ® Only two of eight broad economic sectors are estimated to register higher growth than the previous year. ® The primary sector’s growth is projected at 3.8% . ® The growth of public administration, defense and other services is projected at 9.1% . ® The secondary sector’s construction segment is estimated to grow at 8.6% . ® The manufacturing sector’s growth is projected at 5.3% . ® In the tertiary sector, financial, real estate and professional services are expected to grow at 7.3% . ® The combined growth rate of hotel, trade, transport, and broadcasting services is estimated at 5.8% .

RBI forms AI committee

® RBI has constituted an 8 - member committee chaired by Pushpak Bhattacharya , a professor at IIT Bombay. ® The committee’s aim is to develop a framework for responsible and ethical enablement of artificial intelligence (FREE-AI) in the financial sector. ® The committee is expected to submit its report within 6 months from the date of its 1st meeting. ® The committee will identify potential risks related to AI and recommend an evaluation, mitigation, and monitoring framework for financial institutions (FIs). ® These FIs include banks, NBFCs, and FinTechs.

Bullish on Tamil Nadu Campaign

® The industrial delegation to Davos in Switcherland from Tamil Nadu has created special pins to promote the State as a strong and resilient investment destination. ® Special symbols created to represent Tamil Nadu, a concept first introduced during the Global Investors Meet. ® The symbol feature the Tamil letter “tha” and the iconic bull, symbolizing strength, resilience, and progress.

Republic Day Awards and Medals – Tamil Nadu Government

Anna Bravery Medal: ® Awarded to: Individuals making outstanding societal contributions. ® Recipient: K. Vetrivel (Fire and Rescue Services, Chennai). Kottai Ameer Medal: ® Awarded to: Individuals promoting religious harmony. ® Recipient: S.A. Ameer Amsha (Velipatti, Ramanathapuram). Agriculture Department Award: ® Named after: C. Narayanasamy Naidu. ® Awarded to: Farmers with high productivity. ® Recipient: R. Murugavel (Vadugapatti, Theni). Gandhian Police Medal: ® Awarded to: Police officers who effectively control illicit liquor. Recipients: ® P. Chinnakamanan (Police Inspector, Villupuram) ® K.M. Kamarx (Head Constable, Villupuram) ® Kugarthik (Head Constable, Thuraiyur, Trichy) ® K. Siva and P. Poomalai (Salem District Police). Best Police Stations: ® 1st Prize: Madurai City Police Station. ® 2nd Prize: Tiruppur City Police Station. ® 3rd Prize: Thiruvallur District Police Station.

Year-long Plastic Waste Collection Drive – TNPCB

Launch: ® Tamil Nadu Pollution Control Board (TNPCB) to launch a yearlong plastic waste collection drive starting January 26. ® The drive will cover all districts and the Greater Chennai Corporation on a monthly basis. ® Objective: Aim to reduce plastic usage and raise environmental awareness. ® Budget: The initiative will be carried out with a budget of ₹10 crore.