Current Affairs January 3rd Week: This week saw major developments in banking, defence, science, and global affairs. India is considering reducing its stake in five public sector banks, while Bank of Baroda raised ₹5,000 crore through infrastructure bonds. Nationally, key events included the inauguration of the National Turmeric Board and the 150th anniversary of the India Meteorological Department (IMD).
Internationally, Indonesia joined BRICS, and Russia shipped the final unit of the Kudankulam Nuclear Power Plant. In defence, India is set for Exercise Devil Strike, and three advanced naval warships—INS Surat, INS Nilgiri, and INS Vaghsheer—were commissioned.
Google introduced its next-generation quantum chip, Willow, while DRDO successfully tested the Nag Mark 2 anti-tank missile. Additionally, significant appointments, award recognitions, and obituaries marked this eventful week.
JANUARY 3RD WEEK CURRENT AFFAIRS : NDA
BANKING & FINANCE
- India is considering reducing its ownership in 5 state-run banks, including UCO Bank, Central Bank of India, Indian Overseas Bank, Bank of Maharashtra, and Punjab and Sind Bank, through stake sales or allowing the banks to sell shares to large investors.
- Bank of Baroda (BoB) raised Rs 5,000 crore through a 10-year infrastructure bond at a coupon rate of 7.23%.
- The Insurance Regulatory and Development Authority of India (IRDAI) has expanded the scope of its regulatory sandbox framework to encourage innovation, improve efficiency, and ease of doing business.
- Bank of India is raising its first dollar syndicated loan since 2012, with a target amount of $400 million.
- According to a report by GlobalData, a leading data analytics and research company, 3 Indian banks – HDFC Bank, ICICI Bank, and State Bank of India (SBI) ranked in the top 25 global banks by market capitalization for Q4 2024.
NATIONAL NEWS
- The Kashi Tamil Sangamam 2025 Event will be held on February 15-24, 2025.
- Union Minister of Commerce & Industry, Shri Piyush Goyal inaugurated the National Turmeric Board in New Delhi.
- The India Meteorological Department (IMD), under the Ministry of Earth Sciences, is celebrating a historic milestone of 150 years of dedicated service to the nation.
- India Energy Week (IEW) 2025, the government’s flagship oil and gas sector conference, will be held in New Delhi from February 11-14, 2025.
- The government has re-constituted the Atomic Energy Commission. T.V. Somanathan and Manoj Govil are among the new members.
- The Z-Morh Tunnel is a vital component of the Zojila Tunnel Project, aimed at providing year-round connectivity between Srinagar and Ladakh.
- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the establishment of the 8th Pay Commission to revise salaries and allowances for central government employees and pensioners.
- To promote tourism and highlight India’s military heritage, the government has opened significant battlefields to visitors.
INTERNATIONAL NEWS
- The Russian government-owned company Rosatom has shipped the 6th and final unit of the Kudankulam Nuclear Power Plant being set up in Kudankulam, Tirunelveli District, Tamil Nadu, on board a specialised ship from the seaport of Novorossiysk.
- Indonesia has been admitted as a full member of the BRICS bloc of developing economies, the group’s presiding country Brazil announced.
- China has completed the construction of the world’s longest expressway tunnel, known as the Tianshan Shengli Tunnel, located in the Xinjiang Uighur Autonomous Region.
- The United States Bureau of Industry and Security (BIS) removed three Indian organizations from its Entity List.
- Indian Entities Removed:
- Indian Rare Earths
- Indira Gandhi Atomic Research Center (IGCAR)
- Bhabha Atomic Research Centre (BARC), Mumbai, India
APPOINTMENTS/ RESIGNATIONS
- Justice Upadhyay, the Chief Justice of the Bombay High Court, has been appointed as the Chief Justice of the Delhi High Court.
- Lebanese President Joseph Aoun has appointed Nawaf Salam, a prominent diplomat and judge, as Lebanon’s new Prime Minister after securing majority support from the Lebanese parliament.
- The Reserve Bank of India (RBI) announced a reshuffle in the portfolios of its three remaining Deputy Governors on January 14, as Dr. Michael Debabrata Patra’s term is set to end on January 15.
- The Ministry of Communications is likely to reappoint Robert Jerard Ravi as the Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL).
- President Droupadi Murmu appointed Justice Krishnan Vinod Chandran, the Chief Justice of Patna High Court, as a judge of the Supreme Court on January 13, 2025.
AWARDS AND HONOURS
- Singapore President Tharman Shanmugaratnam presented the Honorary Citizen Award to Tarun Das in New Delhi.
- Professor Urbasi Sinha, a distinguished faculty member at the Raman Research Institute (RRI) in the Light and Matter Physics theme, has been honored with the Gates-Cambridge Impact Prize 2025 by the Bill & Melinda Gates Foundation in Cambridge, UK.
BOOKS AND AUTHORS
- Ghosh unveils his book Wild Fictions (Essays) with former foreign secretary, Shyam Saran, at India International Centre (IIC).
DEFENCE NEWS
- The Ministry of Defence (MoD) signed a contract with Bharat Dynamics Limited (BDL) for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy.
- The Indian Armed Forces are set to conduct Exercise Devil Strike from January 16 to 19, 2025, a joint exercise involving the elite airborne soldiers from the Indian Army and the Indian Air Force.
- The Indian Naval Ship (INS) Mumbai, an indigenously designed and built guided missile destroyer, is participating in the 4th edition of the Multinational Exercise La Perouse.
- Prime Minister Shri Narendra Modi commissioned three advanced naval combatants: INS Surat, INS Nilgiri, and INS Vaghsheer at a ceremony held at the Naval Dockyard in Mumbai.
SCIENCE AND TECHNOLOGY
- Google has announced a significant advancement in quantum computing as it unveiled its next-generation chip called ‘Willow’.
- India successfully tested its first domestically developed micro-missile system, Bhargavastra, aimed at countering swarm drone threats.
- The Defence Research and Development Organisation (DRDO) successfully conducted field evaluation trials of the Nag Mark 2, a third-generation fire-and-forget anti-tank guided missile, at the Pokhran field range in Rajasthan.
OBITUARIES
- 1964 Ballon d’Or Winner & Manchester United’s 3rd Highest Goal Scorer Denis Law Dies At 84.
- David Lynch, the iconic director renowned for his surreal and haunting vision of America, has passed away.
FAQs on January 3rd Week Current Affairs (2025)
What are the key banking and finance updates from this week?
- India is considering reducing its stake in five public sector banks, including UCO Bank, Central Bank of India, Indian Overseas Bank, Bank of Maharashtra, and Punjab and Sind Bank.
- Bank of Baroda raised ₹5,000 crore through a 10-year infrastructure bond at a 7.23% coupon rate.
- The IRDAI expanded its regulatory sandbox framework to encourage innovation.
- Bank of India is raising its first dollar syndicated loan since 2012, targeting $400 million.
- HDFC Bank, ICICI Bank, and SBI ranked in the top 25 global banks by market capitalization for Q4 2024.
What are the major national events from this week?
- The Kashi Tamil Sangamam 2025 will take place from February 15-24, 2025.
- The National Turmeric Board was inaugurated by Union Minister Piyush Goyal.
- India Meteorological Department (IMD) celebrated 150 years of service.
- The India Energy Week (IEW) 2025 is scheduled for February 11-14, 2025.
- The Atomic Energy Commission was reconstituted, with new members including T.V. Somanathan and Manoj Govil.
- The Z-Morh Tunnel is progressing as part of the Zojila Tunnel Project for Srinagar-Ladakh connectivity.
- The Union Cabinet approved the 8th Pay Commission for revising central government salaries.
- The government opened significant battlefields for tourism to promote India’s military heritage.
What are the major international news updates?
- Russia’s Rosatom shipped the final unit of the Kudankulam Nuclear Power Plant to Tamil Nadu.
- Indonesia joined BRICS as a full member.
- China completed the construction of the Tianshan Shengli Tunnel, the world’s longest expressway tunnel.
- The U.S. Bureau of Industry and Security (BIS) removed three Indian organizations from its Entity List:
- Indian Rare Earths
- Indira Gandhi Atomic Research Center (IGCAR)
- Bhabha Atomic Research Centre (BARC), Mumbai
What are the key appointments and resignations this week?
- Justice Upadhyay, Chief Justice of the Bombay High Court, was appointed as Chief Justice of the Delhi High Court.
- Lebanese President Joseph Aoun appointed Nawaf Salam as Lebanon’s new Prime Minister.
- RBI announced a reshuffle in the portfolios of its three Deputy Governors.
- Robert Jerard Ravi is likely to be reappointed as CMD of BSNL.
- Justice Krishnan Vinod Chandran, Chief Justice of Patna High Court, was appointed to the Supreme Court.
What awards and honors were given this week?
- Singapore President Tharman Shanmugaratnam awarded Tarun Das the Honorary Citizen Award.
- Professor Urbasi Sinha of the Raman Research Institute won the Gates-Cambridge Impact Prize 2025.
What are the latest book releases?
- Ghosh unveiled his book Wild Fictions (Essays) with former foreign secretary Shyam Saran at the India International Centre (IIC).
What are the important defence updates this week?
- The Ministry of Defence (MoD) signed a contract with Bharat Dynamics Limited (BDL) for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy.
- The Indian Armed Forces will conduct Exercise Devil Strike from January 16-19, 2025.
- INS Mumbai, an indigenous guided missile destroyer, is participating in the Multinational Exercise La Perouse.
- Prime Minister Narendra Modi commissioned three advanced naval combatants—INS Surat, INS Nilgiri, and INS Vaghsheer.
What are the latest developments in science and technology?
- Google unveiled its next-generation quantum computing chip, ‘Willow’.
- India successfully tested ‘Bhargavastra’, its first domestically developed micro-missile system to counter swarm drones.
- DRDO successfully tested the Nag Mark 2, a third-generation anti-tank guided missile at the Pokhran field range.
Who passed away this week?
- Denis Law, the 1964 Ballon d’Or winner and Manchester United’s 3rd highest goal scorer, died at 84.
- David Lynch, the legendary filmmaker known for surreal cinema, passed away.
