Daily Current Affairs – December 15, 2023
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Daily Current Affairs - Banking - December 15, 2023
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National News
Guinness World Record for the largest reading activity
- The National Book Trust, an autonomous body under the Union ministry of education, has claimed that an event organised by it has made it to the Guinness Book of World Records for the largest reading activity.
- A total of 3,066 parents read stories to their children at SP College, Pune achieving the record, said the organisers.
- The activity was held by the National Book Trust in association with the Pune Municipal Corporation.
- National Book Trust (NBT) – 01/08/1957 (Founded) – New Delhi (HQ) – Govind Prasad Sharma (Chairman)
Jupiter Wagons bagged Contract from Indian Railways
- Jupiter Wagons Ltd has bagged a contract worth ₹1,617 crores from the Ministry of Railways.
- The order is for the supply of 4,000 wagons.
- Jupiter Group is a manufacturer of railway wagons, components for passenger coaches, and alloy steel casting for rolling stacks and tracks.
- It also manufactures application-based load bodies for commercial vehicles, other products include marine containers and refrigerated containers.
- Jupiter Wagons Ltd – 27/07/2006 (Founded) – Kolkata (HQ) – Vivek Lohia (Managing Director)
ASEAN-India Millet Festival
- Union Minister of Agriculture and Farmers’ Welfare and Tribal Affairs Arjun Munda inaugurated ASEAN-India Millet Festival at New Delhi.
- The inaugural day featured two enlightening panel discussions, The first panel, ‘Issues of Hunger and Malnutrition in Southeast Asia – Millets as a Solution,’ moderated by Additional Secretary, Ministry of Women & Child Development, Shri Sanjeev Kumar.
- It brought out interesting insights on the nutritional merits of millets, its potential to address world hunger and the many ways to turn them into nutrient-packed culinary delights to fight nutritional deficiency.
- The second panel, titled, ‘History and Culture of Millets in Southeast Asia,’ moderated by Joint Secretary, Ministry of Culture, Ms. Lily Pandeya delved into the historical and cultural ties between the regions, emphasizing millets’ role in reviving traditional connections.
- Ministry of Agriculture and Farmers Welfare – Arjun Munda,Cabinet Minister (Khunti,Jharkhand) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
State News
Madhya Pradesh government to set up PM College of Excellence in all districts of the state
- Madhya Pradesh government will set up PM College of Excellence in all districts of the state.
- The decision to this effect was taken at the first Cabinet meeting chaired by new Chief Minister Mohan Yadav in Bhopal.
- The government will upgrade one college in every district out of total 570 government colleges as “PM College of Excellence”.
- More than ₹460 crores will be spent on the development of these colleges.
- Madhya Pradesh – Bhopal (Capital) – Mohan Yadav (CM) – Mangubhai C. Patel (Governor) – Hindi (Language)
Bihar MoUs attract ₹50,000-crore investments
- Adani Enterprises has announced a fresh investment of around ₹8,000 crores in Bihar, as a part of the over ₹50,500-crore investment proposals envisaged under various memorandums of understandings (MoUs) signed during the two-day Bihar Business Connect summit in Patna.
- The summit also saw the State Government signing MoUs with Bharat Petroleum for an investment of over ₹7,000 crores, with Patel Agri for investment of over ₹5,200 crores, with Holtech International for investment of over ₹2,200 crores, and with Indo European Heart Hospitals & Research Institute for over ₹2,000 crores among others.
- As many as 300 companies signed MoUs.
- Adani Group has already invested ₹850 crores in Bihar and now plans to increase this investment ten-fold to more than ₹8,000 crores.
- Bihar – Patna (Capital) – Nitish Kumar (CM) – Rajendra Arlekar (Governor) – Hindi (Language)
Banking and Finance
RBI authorised Bandhan Bank to disburse pension to retired railway workers
- Bandhan Bank had been authorised by the Reserve Bank of India (RBI) to disburse pension to retired railways employees.
- The bank will shortly integrate its system with the railways ministry to operationalise the pension disbursement process.
- The mandate will give the bank access to around 50,000 retirees each year across 17 zonal offices and eight production units of the railways across the country.
- Bandhan Bank – 2015 (Founded) – Kolkata, West Bengal (HQ) – Chandra Shekhar Ghosh (MD & CEO) – “Aapka Bhala, Sabki Bhalai” (Tagline)
Ujjivan Small Finance Bank signed bancassurance pact with ICICI Prudential Life
- ICICI Prudential Life Insurance and Ujjivan Small Finance Bank (Ujjivan SFB) have entered into a bancassurance partnership for the distribution of life insurance products.
- Under the partnership, Ujjivan SFB, will offer the entire suite of ICICI Prudential Life’s long-term savings and retirement products to its customers through its network of 700+ branches across 26 states and Union Territories.
- On the pure protection platform, ICICI Pru iProtect Smart and ICICI Pru iProtect Return of Premium will be available.
- Customers will also be able to purchase ICICI Pru GIFT Pro, ICICI Pru Gold and ICICI Pru Signature.
- Besides, ICICI Pru Guaranteed Pension Plan Flexi will aid Ujjivan SFB customers to plan for their retirement.
- Ujjivan Small Finance Bank – 01/02/2017 (Founded) – Bangalore (HQ)- Ittira Davis (MD & CEO)
3rd Public sector bank to join Rs 1 lakh crore market cap club
- Punjab National Bank’s (PNB) market capitalization crossed the ₹1 lakh crore mark for the first time after its stock rallied nearly 80% in the last six months.
- It is the third public lender after State Bank of India (SBI) and Bank of Baroda to cross the market capitalization of ₹1 lakh crore.
- Punjab National Bank – 19/05/1894 (Founded) – Dwarka, New Delhi (HQ) – Atul Kumar Goel (MD & CEO) – “The Name You Can Bank Upon” (Tagline)
IDFC FIRST Bank, LIC Cards and Mastercard Collaborate to Launch a Co-Branded Credit Card
- IDFC FIRST Bank, LIC Cards and Mastercard announced their collaboration to launch an exclusive co-branded credit card to meet the dynamic financial needs of India.
- Loaded with many exciting benefits such as no joining & annual fees and low interest rates starting from 9% p.a., the new card has been designed to bring value to consumers of varied age groups across the country.
- Available in two variants – LIC Classic and LIC Select, the credit cards will provide more than 27 crores policyholders across the country an opportunity to save in the form of reward points on every LIC insurance premium payment.
- It will also come with other benefits, including up to ₹50,000 cover for lost card liability and a personal accident insurance cover of up to ₹5 lakh.
- Cardholders will also be able to redeem reward points against any online purchase, including upcoming LIC insurance premiums, making it as good as cash.
- IDFC First Bank – October 2015 (Founded) – Mumbai (HQ) – V. Vaidyanathan (MD & CEO) – “Always You First” (Tagline)
Business and Economy
Direct tax collection surged 23% in April-November 2023
- The government’s net direct tax collection rose over 23% during the first eight months of the current fiscal.
- With this, over 56% of the budget estimate has been achieved.
- Net collection during April-November reached ₹10.6-lakh crore, which is over 23% higher than collection of over ₹8.6-lakh crore during the corresponding period of
- The Budget estimated net direct tax collection at ₹18.22-lakh crore during FY24, which is around 28% higher than the Budget estimate for FY23 and around 4% of the revised estimate.
Logistics costs pegged at 7.8%-8.9% of GDP in 2021-22
- As per a report by the National Council for Applied Economic Research (NCAER) commissioned by the Ministry of Commerce and Industry, India’s logistics costs had reduced from a range of 6% to 9.8% in 2013-14 to 7.8%-8.9% of GDP in 2021-22.
- The estimate, which relied on National Accounts Statistics for data such as the output of transport services, storage and warehousing sectors, dispels earlier estimates that pegged the country’s logistics costs as high as 14% of GDP.
- These cost estimates will be refined and tracked regularly in the coming years.
- Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)
Agreements and MoUs signed
SBI Life signed MOU with Shri Kshetra Dharmasthala Rural Development Project BC Trust®
- SBI Life Insurance, signed MOU with Shri Kshetra Dharmasthala Rural Development Project BC Trust® in Dharmasthala, Karnataka.
- With a focus to support financial inclusion, empower rural women and social development amongst the stakeholders, life insurance solutions are being made easily accessible to the socio-economically weaker sections of the society in Karnataka & Kerala.
- This collaboration between SBI Life and SKDRDP BC Trust® is poised to be a significant step forward in ensuring inclusive development in the region.
- SBI Life aims to leverage SKDRDP BC Trust’s® invaluable on-ground network to fortify the financial stability of households in rural Karnataka & Kerala through meaningful insurance solutions.
- SBI Life Insurance Company Limited – March 2001 (Founded) – Mumbai (HQ) – Mahesh Kumar Sharma (MD & CEO)
Science and Technology
Amrit Technology by IIT Madras
- The Indian Institute of Technology (IIT) – Madras has developed a technology called ‘AMRIT’ (Arsenic and Metal Removal by Indian Technology) for the removal of Arsenic and Metal ions from water.
- The technology uses nano-scale iron oxy-hydroxide, which selectively removes arsenic when water is passed through it.
- This water purifier has been developed for both domestic as well as community levels.
- Also, the technology has been recommended by the erstwhile ‘Standing Committee’ of the Department of Drinking Water and Sanitation for the examination of the best technologies concerning water and sanitation.
Acquisitions and Mergers
MSC arm acquired stake in Adani Ennore Container Terminal
- Terminal Investment (TiL), the container terminal operating and investing arm of Mediterranean Shipping Company (MSC) will acquire a 49% shareholding of Adani Ennore Container Terminal (AECTPL) from Adani Ports and Special Economic Zone Ltd (APSEZ) for a consideration of ₹247 crores.
- The total enterprise value of AECTPL is ₹1,211 crores.
- After the completion of the transaction, APSEZ would hold a 51% stake in AECTPL.
Awards and Recognitions
2023 Indira Gandhi Prize for Peace, Disarmament and Development
- The Indira Gandhi Prize for Peace, Disarmament and Development for 2023 has been jointly awarded to Daniel Barenboim and Ali Abu Awwad for their efforts in bringing together the youth and peoples of Israel and the Arab World for a non-violent resolution of the Israel-Palestine conflict.
- The International Jury of the Indira Gandhi Prize for Peace, Disarmament and Development was chaired by former Chief Justice of India S. Thakur.
- Daniel Barenboim is an Argentine-born distinguished classical pianist and conductor, renowned for performing with and directing some of the leading orchestras in the world.
- Apart from his musical achievements, he is also known for his relentless endeavour in using music to foster harmony in West Asia.
- Ali Abu Awwad is an eminent Palestinian peace activist who has been working tirelessly with the people of Palestine and Israel for a peaceful resolution of the ongoing conflict in the Middle East.
- Born in 1972, he was raised in a politically-active refugee family.
- Unable to meet each other while in prison for three years, he and his mother undertook a 17-day hunger strike, which resulted in achieving permission for a visit.
National Energy Conservation Awards 2023
- The President of India, Droupadi Murmu presented the National Energy Conservation Awards 2023 and National Painting Competition on Energy Conservation prizes in New Delhi on the occasion of National Energy Conservation Day.
- National Energy Conservation Awards (NECA) aim to raise awareness about energy efficiency and its conservation.
- A total of 63 prizes comprising 20 first prizes, 16 second prizes and 27 Certificates of Merit are being awarded under NECA 2023.
- A total of 8 prizes comprising 1 first prize, 1 second prize and 6 Certificates of Recognition are being awarded under National Energy Efficiency Innovation Awards (NEEIA) 2023.
Sports News
National Billiards & Snooker
- Anupama Ramachandran of Tamil Nadu had defeated Amee Kamani of Madhya Pradesh at the women’s 15-Red snooker crown in the National Billiards & Snooker Championships in Chennai.
2023 UWW Rising Star of the Year
- Two-time World under-20 champion and senior Worlds bronze medallist Antim Panghal (53kg) has been named United World Wrestling (UWW) Rising Star of the Year 2023 in women’s section.
- Antim won a silver in her senior Asian championships debut, defended her U-20 World title and then won bronze at the World championships.
- Georgios Kougioumtsidis (Greece) and Hasrat Jafarov (Azerbaijan) have been named as UWW’s Rising Stars of the Year.
Defence
Indian Navy recommissioned INS Tarmugli
- INS Tarmugli, formerly known as INS Tillanchang, has a history steeped in maritime significance.
- Originally part of the Trinkat Class and actively serving in the Indian Navy until 2006, it embarked on a unique journey, transitioning into MCGS Huravee under the Maldives National Defence Force (MNDF).
- This transition was a result of India’s diplomatic outreach efforts in the Indian Ocean Region (IOR).
- 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)
Defence Ministry approved Rs 2,800 crore for procurement of Pinaka rockets
- The Indian Army receives a substantial boost as the Defence Ministry approves ₹2,800 crores proposal.
- This funding aims to procure around 6,400 rockets for the Pinaka multi-barrel rocket launcher systems, enhancing the army’s firepower and strategic capabilities.
- During a recent meeting of the Defence Acquisition Council, the Defence Ministry approved the acquisition of two types of rockets, identified as Area Denial Munition Type 2 and Type-3.
- The Indian-made Pinaka weapon system, developed by the Defence Research and Development Organisation, stands as a testament to indigenous technological prowess.
- Named after the bow of the Hindu god Shiva, it has gained international recognition with exports to countries such as
- The Indian Army’s Pinaka regiments have successfully demonstrated their advanced capabilities during recent trials at the Pokharan firing ranges in Rajasthan.
- These regiments are equipped with launchers featuring automated gun aiming and positioning systems, along with sophisticated command posts.
- The forces conducted multiple successful test firings, affirming the effectiveness and readiness of the Pinaka rockets in real-world scenarios.
- Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)
Daily Current Affairs - December 15, 2023 - Consolidated
- Guinness World Record for the largest reading activity
- Jupiter Wagons bagged Contract from Indian Railways
- ASEAN-India Millet Festival
- Madhya Pradesh government to set up PM College of Excellence in all districts of the state
- Bihar MoUs attract ₹50,000-crore investments
- RBI authorised Bandhan Bank to disburse pension to retired railway workers
- Ujjivan Small Finance Bank signed bancassurance pact with ICICI Prudential Life
- 3rd Public sector bank to join Rs 1 lakh crore market cap club
- IDFC FIRST Bank, LIC Cards and Mastercard Collaborate to Launch a Co-Branded Credit Card
- Direct tax collection surged 23% in April-November 2023
- Logistics costs pegged at 7.8%-8.9% of GDP in 2021-22
- SBI Life signed MOU with Shri Kshetra Dharmasthala Rural Development Project BC Trust®
- Amrit Technology by IIT Madras
- MSC arm acquired stake in Adani Ennore Container Terminal
- 2023 Indira Gandhi Prize for Peace, Disarmament and Development
- National Energy Conservation Awards 2023
- National Billiards & Snooker
- 2023 UWW Rising Star of the Year
- Indian Navy recommissioned INS Tarmugli
- Defence Ministry approved Rs 2,800 crore for procurement of Pinaka rockets
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