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Daily Current Affairs – December 02 & 03, 2023

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Daily Current Affairs - Banking - December 02 & 03, 2023

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National News

National Best Tourism Village Competition & National Best Rural Homestay Competition 2024

  • Ministry of Tourism had launched National Best Tourism Village Competition and the National Best Rural Homestay Competition 2024 to strengthen the promotion and development of Rural Tourism in the country.
  • The government has launched the comprehensive National Strategy and Roadmap for the Development of Rural Tourism in India, along with the National Strategy for the Promotion of Rural Homestays.
  • It has initiated the implementation of the National strategies in collaboration with the Indian Institute of Tourism and Travel Management.
  • To foster collaboration and create a conducive environment for the growth of Rural Tourism, the Ministry has actively engaged with industry stakeholders, NGOs and local communities through these competitions.
  • The competitions aim to develop healthy competitiveness among the villages and the rural homestays to identify and reward outstanding contributions to Rural Tourism.
  • The applications for the competitions are open till 31st January.
  • The earlier version of the National Best Tourism Village Competition 2023 recognized 35 villages all over the country in Gold, Silver and Bronze
  • Ministry of Tourism – Gangapuram Kishan Reddy,Union Minister (Secunderabad,Telangana) – Shripad Naik, Minister of State (North Goa,Goa) & Ajay Bhatt, Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)

India's emission intensity reduced by 33% between 2005 and 2019

  • According to a government report, India reduced its GDP emission intensity by 33% between 2005 and 2019, achieving the target 11 years in advance.
  • The report also said India’s GDP grew at a cumulative annual growth rate of 7% but its emissions rose by only 4% per year during this period, suggesting that the country has been successful in decoupling its economic growth from planet-warming greenhouse gas emissions.
  • The report called ‘The Third National Communication to the United Nations Framework Convention on Climate Change’ will be submitted to the UN climate change body during the ongoing climate talks in Dubai.

International News

UN climate conference in 2028

  • Prime Minister Narendra Modi proposed to host the UN climate conference in 2028, and also launched a ‘Green Credit Initiative’ focused on creating carbon sinks through people’s participation.

Phase-II of Leadership Group for Industry Transition at COP-28

  • Prime Minister Narendra Modi together with E. Mr. Ulf Kristersson, Prime Minister of Sweden, co-launched the Phase-II of the Leadership Group for Industry Transition (LeadIT 2.0) for the period 2024-26, at COP-28 in Dubai.
  • India and Sweden also launched the Industry Transition Platform, which will connect the governments, industries, technology providers, researchers and think tanks of the two countries.
  • During the event, Prime Minister highlighted that LeadIT 2.0 will focus on the following:
  • Inclusive & Just Industry Transition
  • Co-development & transfer of low-carbon technology
  • Financial support to emerging economies for Industry Transition
  • India and Sweden had co-launched LeadIT at UN Climate Action Summit in New York in
  • Sweden – Stockholm (Capital) – Swedish krona (Currency) – Carl XVI Gustaf (Monarch) – Ulf Kristersson (Prime Minister) – Swedish (Language)

State News

Assam received 9 Guinness World Records certificates in tree plantation

  • The Assam government received nine Guinness World Records certificates for a mega plantation drive in September-October.
  • Assam Chief Minister Himanta Biswa Sarma received the certificates from Guinness World Records Adjudicator Swapnil Dangarikar for the state’s ‘Amrit Brikshya Andolan’.
  • As part of the drive, a total of 1,11,17,781 seedlings of commercially valuable tree species were planted across the state on a single day on September 17.
  • The entire exercise was carried out in the ‘Jan Bhagidaari’ model through the involvement of the Self-Help Groups, ASHA workers, Anganwadi workers, educational institutions, police personnel, tea garden workers, government officials and other citizen.
  • Assam– Dispur (Capital) – Himanta Biswa Sarma (CM) – Gulab Chand Kataria (Governor) – Assamese & Boro (Language)

World's first portable hospital unveiled in Gurugram

  • The World’s first portable hospital, ‘Aarogya Maitri Aid Cube’ was unveiled in Gurugram, Haryana.
  • Designed indigenously under the Project ‘BHISHM’, the modular trauma management and aid system is made up of 72 detachable mini-cubes, each being a specialized station for emergency response and humanitarian efforts.
  • It can handle bullet injuries, burns, head, spinal and chest injuries, minor surgeries, fractures and major bleeding.
  • It can treat as many as 200 patients.
  • These cubes are light and portable, and can be rapidly deployed anywhere, from airdrops to ground transportation.
  • Haryana – Chandigarh (Capital) – Manohar Lal Khattar (CM) – Bandaru Dattatreya (Governor) – Hindi (Language)

Banking and Finance

UPI transactions in November 2023

  • Unified Payment Interface (UPI) transactions clocked a fresh peak in value in November by hitting ₹17.4 trillion, up 4% compared to ₹17.16 trillion in October.
  • Transactions reduced by 5% to 11.24 billion, compared to a record high of 11.41 billion in October.
  • NPCI data revealed that the November figures were 54% higher in volume and 46% higher in value compared to the same period last year.
  • The Immediate Payment Service (IMPS) transaction volume experienced a 4% decline to 472 million in November, with a marginal decrease in value to ₹5.35 trillion, compared to ₹5.38 trillion in October.
  • FASTag transactions showed a marginal increase to 321 million in November from 320 million in October.
  • The value of FASTag transactions in November stood at ₹5,303 crore, reflecting a 4% decline from ₹5,539 crore in October.
  • Aadhaar Enabled Payment System (AePS) exhibited notable growth, with a 10% increase in transactions to 110 million and a 14% rise in value to ₹29,640 crore in November, compared to October’s 100 million transactions and ₹25,973 crore

Federal Bank tied up with NeML streamline e-procurement, e-auction

  • Federal Bank has announced a collaboration with NCDEX e-Markets Limited (NeML) to strengthen the integration of its e-procurement and e-auction systems.
  • NeML, a wholly owned subsidiary of National Commodity and Derivatives Exchange Limited (NCDEX), holds a commanding market share in transparent price discovery across more than 90 commodities.
  • The alliance is expected to facilitate an advanced e-procurement solution, streamlining processes for Central and State government organisations.
  • Farmers can list crop details on the NeML platform, and the government will subsequently purchase the produce at the approved minimum support price (MSP).
  • The key advantages include nationwide participation, improved price discovery, and safeguarding against cartel formations, allowing participants to enhance their bid value as per market scenarios.
  • Federal Bank – 23/04/1931 (Founded) – Aluva, Kochi (HQ) – Shyam Srinivasan (MD & CEO) – “Your Perfect Banking Partner” (Tagline)

Business and Economy

GST Collection in November 2023

  • The gross GST revenue collected in the month of November, 2023 is ₹1,67,929 crore out of which CGST is ₹30,420 crore, SGST is ₹38,226 crore, IGST is ₹87,009 crore (including ₹39,198 crore collected on import of goods) and cess is ₹12,274 crore (including ₹ 1,036 crore collected on import of goods).
  • The government has settled ₹37,878 crore to CGST and ₹31,557 crore to SGST from IGST.
  • The total revenue of Centre and the States in the month of November, 2023 after regular settlement is ₹68,297 crore for CGST and ₹69,783 crore for the SGST.
  • The revenues for the month of November, 2023 are 15% higher than the GST revenues in the same month last year and highest for any month year-on-year during 2023-24, upto November 2023.
  • It is for the sixth time that the gross GST collection has crossed ₹1.60 lakh crore mark in FY 2023-24.

Nomura GDP Prediction

  • Japanese brokerage Nomura sharply revised its FY24 real GDP growth estimate for India to 7% from 5.9%.
  • They still expect a slowdown in growth to 6% in FY25.
  • Nomura Holdings, Inc. – 25/12/1925 (Founded) – Tokyo, Japan (HQ) – Nobuyuki Koga (Chairman)

Agreements and MoUs signed

RBI signed MoU with Bank of England

  • Reserve Bank of India (RBI) and the Bank of England (BoE) signed a Memorandum of Understanding (MoU) for cooperation and exchange of information in relation to the Clearing Corporation of India Ltd. (CCIL).
  • The MoU establishes a framework for the BoE to place reliance on the RBI’s regulatory and supervisory activities while safeguarding UK financial stability.
  • The MoU also demonstrates the importance of cross-border cooperation to facilitate international clearing activities and the BoE’s commitment to deference to other regulators’ regimes.
  • This MoU comes against the backdrop of ESMA withdrawing recognition for six CCPs from India — CCIL, Indian Clearing Corporation Ltd., NSE Clearing Ltd., Multi Commodity Exchange Clearing Ltd., India International Clearing Corporation, and NSE IFSC Clearing Corporation Ltd. — with effect from April 30, 2023, as certain conditions under the European Market Infrastructure Regulation (EMIR) were not met.
  • According to industry experts, ESMA may review its stance with the RBI signing the agreement with the BoE.
  • Bank of England – 27/07/1694 (Founded) – Andrew Bailey (Governor)

Appointments

President of Madagascar

  • Andry Rajoelina was re-elected as the President of Madagascar.
  • He also served as the seventh President of Madagascar from 2009 to 2014 and the ninth from 2019 to 2023.
  • Madagascar – Antananarivo (Capital) – Ariary (Currency) – Andry Rajoelina (President) – Christian Ntsay (Prime Minister) – Malagasy & French (Language)

Madhya Pradesh Chief Secretary

  • A senior IAS officer Veera Rana took additional charge as Chief Secretary of Madhya Pradesh at Vallabh Bhawan by replacing CS Iqbal Singh.
  • She is the second woman IAS officer after the late Nirmala Buch to hold the post of chief secretary of the state.
  • Rana will retire in March 2024, which means she has four months of service left, unless she is given an extension.

Independent director of Hindustan Unilever Ltd (HUL)

  • Hindustan Unilever Ltd (HUL) has appointed Tarun Bajaj as an independent director on its board with effect from December 1 for five years.
  • Bajaj was a 1988-batch Indian Administrative Service officer of the Haryana cadre.
  • He served as the government’s revenue secretary before superannuating in November 2022.
  • To unlock new growth opportunities by leveraging the digital ecosystem in India, Arun Neelakantan (43) will join the HUL MC as Chief Digital Officer (CDO).
  • Hindustan Unilever Limited (HUL) – 1933 (Founded) – Mumbai (HQ) – Sanjiv Mehta (CEO)

Chairman of India Debt Resolution Co Ltd (IDRCL)

  • Former KPMG managing partner Narayan Seshadri took over as chairman of the India Debt Resolution Co Ltd (IDRCL), the agent to government-backed bad bank by replacing Diwakar Gupta.
  • India Debt Resolution Company Limited – 03/09/2021 (Founded) – Mumbai (HQ) – Narayan Seshadri (Chairman)

Chairman of National Asset Reconstruction Co Ltd (NARCL)

  • Former IDRCL Chairman Diwakar Gupta took over as chairman of National Asset Reconstruction Co Ltd (NARCL).
  • The post remained vacant when Karnam Sekar retired earlier.
  • National Asset Reconstruction Company Limited (NARCL) – 07/07/2021 (Founded) – Mumbai (HQ)

First woman commanding officer in naval ship

  • Commander Prerna Deosthalee will be the first woman officer of the Indian Navy to command Indian Naval Warship.
  • The Indian Navy has appointed its first woman commanding officer in a naval ship in sync with its philosophy of ‘all roles-all ranks’ for female personnel.
  • Commander Prerna Deosthale is presently the First Lieutenant of warship INS Chennai.
  •  She was selected as the Commanding Officer of INS Trinkat
  • Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)

Executive Director of IBBI

  • Jitesh John was appointed as Executive Director of Insolvency regulator Insolvency and Bankruptcy Board of India (IBBI).
  • He was a 2001 batch Indian Economic Service Officer, previously served as an Economic Advisor in the Ministry of Power.
  • His appointment is valid for five years, effective October 27, when Sandip Garg assumed office as IBBI Whole Time Member, or until age 65, whichever is earliest.
  • Sandip Garg had also served as a member of the Indian Revenue Service from 1992 for over 31 years in various capacities in the income tax department and Central Board of Direct Taxes.
  • Insolvency and Bankruptcy Board of India (IBBI) – 01/10/2016 (Founded) – New Delhi (HQ) – Ravi Mittal (Chairman)

Ranks and Indices

2023 World Digital Competitiveness Ranking (WDCR)

  • The International Institute for Management Development (IMD) unveiled its 2023 World Digital Competitiveness Ranking (WDCR) revealing India’s position at 49th among 64 economies.
  • The WDCR is a comprehensive assessment that provides insights into how nations are navigating the digital landscape amid the rise of artificial intelligence (AI).
  • This ranking sheds light on crucial elements contributing to a nation’s digital prowess, a quality gaining paramount importance as technology continues to reshape societies globally.
  • The top spot was secured by
  • The Netherlands secured the second position, while Singapore, leading in the technology factor, secured the third spot.
  • Denmark, the previous overall leader, slipped to fourth place due to declines in future readiness and technology factors.
  • Switzerland, excelling in the knowledge factor, maintained its top position, completing the top five.

Awards and Recognitions

National Awards for the Empowerment of Persons with Disabilities

  • The President of India, Droupadi Murmu presented the National Awards for the Empowerment of Persons with Disabilities for the year 2023 in New Delhi on the occasion of the International Day of Persons with Disabilities.
  • The Awards is a commendable medium for empowerment of Divyangjan as recognizing individual and institutional work encourages everyone.

SKOCH Gold Award For 2023

  • The Power Grid Corporation of India Limited (PGCIL), a Maharatna Central Public Sector Undertaking (CPSU) under the Ministry of Power, has been awarded the coveted SKOCH Gold Award 2023 in recognition of its performance in the power sector.
  • PGCIL received the award for its pioneering Pugalur Thrissur 2000 MW Voltage Source Converter High Voltage Direct Current (HVDC) System.
  • The Award recognizes PGCIL’s excellent contributions and technological advancements in the field of electricity transmission and distribution.
  • This award recognizes the company’s dedication to innovation, dependability, and sustainable energy solutions.
  • Power Grid Corporation of India Limited – 23/10/1989 (Founded) – Gurugram, Haryana (HQ) – Kandikuppa Sreekant (Chairman & MD)

Sports News

India’s third female chess Grandmaster

  • Vaishali Rameshbabu, became only the third woman from India to get the Grandmaster (GM) title (84th Grandmaster of India) and also the first Women Grandmaster from Tamil Nadu.
  • Koneru Humpy was the first; she was, in fact, the world’s youngest female player ever, when she became a GM in 2002, at the age of 15 from Gudivada, Andhra Pradesh.
  • The other Indian female GM is Dronavalli Harika, 22-year-old Vaishali completed the final requirement – 2,500 Elo points – during the ongoing Llobregat Open tournament in Spain from Andhra Pradesh.
  • She and her younger brother Praggnanandhaa (52nd Grandmaster & 2nd Youngest) thereby became the world’s first sister-brother grandmaster duo.
  • International Chess Federation or World Chess Federation (FIDE) – 20/07/1924 (Founded) – Lausanne, Switzerland (HQ) – Arkady Dvorkovich (President)

Important Days

International Day for the Abolition of Slavery 2023

  • International Day for the Abolition of Slavery is annually observed on December 02.
  • The Convention for the Suppression of the Traffic in Persons and of the Exploitation of the Prostitution of Others was approved by the United Nations General Assembly on December 2, 1949.
  • Besides, by resolution 57/195 of 18 December 2002, the Assembly proclaimed 2004 the International Year to Commemorate the Struggle against Slavery and its Abolition.
  • The day was organized since 1986 by the United Nations General Assembly.
  • United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)

National Pollution Control Day 2023

  • National Pollution Control Day is annually observed on December 02.
  • The day is to raise awareness about the different measures to control pollution and the prevention of industrial disasters.
  • The Day is especially observed in the memory of people who died in the Bhopal gas tragedy of 1984.
  • The Bhopal disaster or Bhopal gas tragedy was a chemical accident on the night of 2–3 December 1984 at the Union Carbide India Limited (UCIL) pesticide plant in Bhopal, Madhya Pradesh.
  • Considered the world’s worst industrial disaster, over 500,000 people in the small towns around the plant were exposed to the highly toxic gas methyl isocyanate (MIC).

International Day of Persons with Disabilities 2023

  • International Day of Persons with Disabilities is annually observed on December 03.
  • The Day aims to promote an understanding of disability issues and mobilize support for the dignity, rights and well-being of persons with disabilities.
  • The day is observed since
  • It was originally called “International Day of Disabled Persons” until 2007.
  • Theme – United in action to rescue and archive the SDGs for, with and by person with disabilities

Defence

Ministry of Defence signed deal with Agnit Semiconductors

  • The Ministry of Defence has signed a contract with Agnit Semiconductors Private Ltd for design and development of advanced Gallium Nitride (Gan) semiconductors essential for the next generation of wireless transmitters in defence applications ranging from radars to electronics warfare jammers.
  • This is the 300th contract Innovations for Defence Excellence (iDEX)-Defence Innovation Organisation (DIO) has inked to get India rid of imports in Gan components, which are sensitive and cutting-edge technology whose exports are controlled and restricted by many countries.
  • The pact was signed by Additional Secretary (Defence Industries Production) & CEO/DIO T Natarajan with Agnit Semiconductors Private Ltd in the presence of Defence Secretary Giridhar Aramane and other senior civil and military officials of MoD.
  • The proposal aims to design, develop and manufacture GaN components for defence in India using completely indigenous GaN technology.
  • This would significantly enhance the indigenous design & development capability, paving way for immense potential in defence sector including exports.
  • Agnit Semiconductors Private Limited – 2019 (Founded) – Bangalore

Daily Current Affairs - December 02 & 03, 2023 - Consolidated

  • National Best Tourism Village Competition & National Best Rural Homestay Competition 2024
  • India’s emission intensity reduced by 33% between 2005 and 2019
  • UN climate conference in 2028
  • Phase-II of Leadership Group for Industry Transition at COP-28
  • Assam received 9 Guinness World Records certificates in tree plantation
  • World’s first portable hospital unveiled in Gurugram
  • UPI transactions in November 2023
  • Federal Bank tied up with NeML streamline e-procurement, e-auction
  • GST Collection in November 2023
  • Nomura GDP Prediction
  • RBI signed MoU with Bank of England
  • President of Madagascar
  • Madhya Pradesh Chief Secretary
  • Independent director of Hindustan Unilever Ltd (HUL)
  • Chairman of India Debt Resolution Co Ltd (IDRCL)
  • Chairman of National Asset Reconstruction Co Ltd (NARCL)
  • First woman commanding officer in naval ship
  • Executive Director of IBBI
  • 2023 World Digital Competitiveness Ranking (WDCR)
  • National Awards for the Empowerment of Persons with Disabilities
  • SKOCH Gold Award For 2023
  • India’s third female chess Grandmaster
  • International Day for the Abolition of Slavery 2023
  • National Pollution Control Day 2023
  • International Day of Persons with Disabilities 2023
  • Ministry of Defence signed deal with Agnit Semiconductors

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