Daily current affairs 2 feb. PayTm Payment Bank

Daily Current Affairs 02 Feb 2024 (The Hindu)

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Here are the topics covered for  02 Feb 2024:

GS-2: Meghalaya – State Anthem, Internet Shutdown in India, Female Workforce Participation

GS-3: Paytm Payments Bank (PPB)

Facts For Prelims: Interim Budget 2024-25, Asteroid Bennu

Meghalaya – State Anthem


  • In celebration of Meghalaya\’s 52nd statehood day on January 21, the state government unveiled an official state anthem.

Demography in Meghalaya

  • Meghalaya comprises three major matrilineal communities: Khasis, Garos, and Jaintias. While Jaintias are grouped with Khasis in the state\’s Scheduled Tribes (ST) list, other tribes like War, Bhoi, and Lyngngam are also included. 
  • Collectively, they account for 14.1 lakh of the state\’s population based on 2011 Census data. 
  • The Garos, constituting around 8.21 lakh people, contribute to the state\’s total population of 29.7 lakh.

Meghalaya State Language Act of 2005

  • The selection of languages for Meghalaya\’s state anthem aligns with the Meghalaya State Language Act of 2005. 
  • According to the Act, English is designated as the state\’s official language
  • Additionally, Khasi holds the status of \’Associate Official Language\’ in specific districts, including East Khasi Hills, West Khasi Hills, South West Khasi Hills, East Jaintia Hills, West Jaintia Hills, and Ri Bhoi. 
  • Similarly, the Garo language holds the same status in districts like East Garo Hills, West Garo Hills, South Garo Hills, North Garo Hills, and South West Garo Hills.

Internet Shutdown in India


  • The Supreme Court raised concerns and questioned the Union Territory of Jammu and Kashmir regarding the non-publication of orders related to the suspension of Internet services in the region.

More About News

  • In recent years, India has witnessed various acts of violence in response to legislative changes by the Union Government, such as the Citizenship Amendment Act and the abrogation of Article 370, potentially leading to internal unrest
  • To maintain peace during such situations, there is a perceived necessity to temporarily suspend internet services
  • This practice has become commonplace for law enforcement agencies and the government during moments of heightened tension.

Legal Provisions in India

  • Until 2017, shutdowns were primarily imposed using Section 144 of the Code of Criminal Procedure (CrPC), granting powers to the police and District Magistrate to prevent unlawful gatherings and direct individuals to refrain from specific activities. 
  • However, in 2017, the law was amended, introducing the Temporary Suspension of Telecom Services (Public Emergency or Public Safety) Rule 2017. 
  • These rules empower authorities to order telecom/internet shutdowns based on grounds of public emergency and public safety. 
  • Notably, the terms \”public emergency\” and \”public safety\” lack specific definitions in the 1885 Act or the 2017 Rules.

Female Workforce Participation


  • The Centre Government has released advisories to boost female workforce participation at an event titled ‘Women in the Workforce for Viksit Bharat’ that was jointly held by the Ministry of Women & Child Development and the Ministry of Labour & Employment.

Key Outcomes

  • National Minimum Standards and Protocol for Crèches released to standardize and institutionalize the care economy.
  • Advisory for Employers includes promoting women in leadership, gender-neutral job advertisements, establishing working women hubs, and gender-neutral creche breaks.
  • Employer Rating Survey launched within EPFO to gather feedback from women for a robust understanding of working conditions.

Female Workforce Participation

  • Women\’s participation in employment increased from 23.3% in 2017 to 37% in 2022-23, as per the Periodic Labour Force Survey.
  • Factors influencing female participation include economic development, education levels, fertility rates, access to childcare, and societal norms.

Paytm Payments Bank (PPB)


  • The Reserve Bank of India (RBI) under section 35 A of the Banking Regulation Act of 1949 has placed additional curbs on PPB that will not allow fresh deposits in any customer accounts, prepaid instruments, wallets, FASTags, etc.

Section 35A of the BRA of 1949

  • The RBI has taken action in response to persistent non-compliance noted by external auditors and significant supervisory concerns in the Post Payments Bank (PPB). 
  • The RBI, under its broad powers, has issued directions in the public interest or the interest of banking policy, as permitted by the relevant act.

Payment Banks

  • The Nachiket Mor committee proposed the establishment of specialized banks known as \’payments banks\’ to promote financial inclusion. 
  • These banks are required to register as a Public Limited Company and obtain a license under the Banking Regulation Act of 1949. 
  • While they can perform most banking operations, they are prohibited from extending loans or issuing credit cards. 
  • Payments banks can accept deposits up to 2 lakh, issue debit cards, and offer mobile and internet banking services.


Facts For Prelims

Interim Budget 2024-25

  • An interim budget, unlike the regular yearly budget, is typically presented in an election year
  • Similar to the Union budget, it undergoes debate in the Lok Sabha before passage and remains valid for the entire year, serving as a transition arrangement for about 2-4 months. 
  • Commonly known as a \’vote-on-account,\’ it authorizes specific expenditures until a new government assumes power. 
  • As per Article 116, a vote-on-account provides an upfront allocation of grants from the \’Consolidated Fund of India\’ to address immediate expenditure needs.

Asteroid Bennu

  • NASA recently opened a canister containing dust collected from asteroid Bennu, brought back to Earth by the OSIRIS-REx mission. 
  • Bennu is a small, near-Earth carbon-rich asteroid approximately 4.5 billion years old, with a composition established within 10 million years of the solar system\’s formation. 
  • It has close encounters with Earth every 6 years. 
  • Asteroids, smaller than planets, orbit the Sun, with the main asteroid belt located between Mars and Jupiter.


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