Daily Current Affairs – December 16 & 17, 2023
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Daily Current Affairs - Banking - December 16 & 17, 2023
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National News
‘India’s fastest’ solar-electric boat launched
- India’s fastest solar-electric boat Barracuda, was launched at the yard of Navalt Solar and Electric Boats, located off Aroor in Alappuzha, Kerala.
- Named after the swift, long fish, Barracuda was designed by Navalt and can be deployed even in the rough seas as a workboat to ferry up to 12 passengers and cargo.
- The 14-metre-long, 4.4-metre-wide vessel can attain a top speed of 5 knots (23 kmph) and has a range of seven hours on a single charge.
- It has twin 50 kW electric motors, a marine-grade LFP battery, and 6 kW solar power, epitomising efficient and clean energy usage.
Surat joined list of international airports
- The Union Cabinet has approved the proposal to declare Surat Airport an international airport.
- Airports Authority of India – 01/04/1995 (Founded) – New Delhi (HQ) – Sanjeev Kumar (Chairman)
Viksit Bharat Sankalp Yatra
- Union Finance Minister Nirmala Sitharaman inaugurated the Viksit Bharat Sankalp Yatra (VBSY) at Mangalapuram panchayat in Thiruvananthapuram, Kerala.
- VBSY aims to ensure the benefits of central schemes to the deserved people and to enroll all the eligible beneficiaries under various schemes.
- VBSY is a movement to achieve the aim of self-reliant and developed India by 2047.
- The Prime Minister flagged off the VBSY campaign in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, and Mizoram.
- The Prime Minister launched the VBSY campaign in Jharkhand’s Khunti on November 15 2023.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
Atal Health Fair
- Vice-President Jagdeep Dhankhar inaugurated the two-day-long Atal Health Fair in memory of former Prime Minister Atal Bihari Vajpayee at the PNT Ground in Rajajipuram, Lucknow, Uttar Pradesh.
Banking and Finance
RBI imposed monetary penalty on five co-operative banks
- The Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks for deficiencies in regulatory compliance.
- The Bank had imposed a monetary penalty of ₹5.00 lakh on Indapur Urban Co-operative Bank Ltd., Pune, Maharashtra for non-compliance with directions issued by RBI on ‘Investments by Primary (Urban) Co-operative Banks’, ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’, and ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’.
- The Bank had imposed a monetary penalty of ₹5.00 lakh on Janakalyan Sahakari Bank Limited, Mumbai for non-compliance with the directions issued by RBI on ‘Reporting of Large Exposures to Central Repository of Information on Large Credits (CRILC)’.
- Also imposed a monetary penalty of ₹2.00 lakh on The Patan Urban Co-operative Bank Limited, Satara, Maharashtra for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and for non-compliance with the directions issued by RBI on ‘The Depositor Education and Awareness Fund’.
- And imposed a monetary penalty of ₹1.00 lakh on Pune Merchants Co-operative Bank Limited, Pune for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’.
- Finally imposed a monetary penalty of ₹1.00 lakh on Pune Municipal Corporation Servant’s Co-operative Urban Bank Limited, Pune for non-compliance with RBI directions on ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Business and Economy
SBI invested ₹49.99 crore in Canpac Trends
- State Bank of India has executed transaction documents to purchase 3,70,644 shares (6.35%) of Ahmedabad-based Canpac Trends Private Limited at ₹1,349 per share, aggregating ₹49.99 crore.
- Canpac Trends Private Limited was incorporated in 2004 provides paper-based packaging solutions such as folding cartons, corrugated cartons, flexible packaging, paper bags and luxury boxes.
- State Bank of India (SBI) – 01/07/1955 (Founded) – Mumbai (HQ) – Dinesh Kumar Khara (Chairman) – “Pure Banking, Nothing Else” (Tagline)
Agreements and MoUs signed
India signed MoU with USA
- United States of America signed a Memorandum of Understanding with India to enhance innovation ecosystems through an innovation handshake.
- The MoU would contribute significantly strengthening Commercial opportunities in high tech sector.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
India signed MoU with Tanzania
- Ministry of Electronics and Information Technology, India signed a Memorandum of Understanding with the Ministry of Information, Communication and Information Technology, Tanzania on cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation.
- The MoU intends to promote closer cooperation and exchange of experiences, digital technologies-based solutions in the implementation of digital transformational initiative of both the countries.
- MoU envisages improved collaboration leading to employment opportunities in the field of
- Tanzania – Dodoma (Capital) – Tanzanian shilling (Currency) – Samia Suluhu Hassan (President) – Kassim Majaliwa (Prime Minister) – Swahili, English & Arabic (Language)
India signed MoC with Saudi Arabia
- Ministry of Electronics and Information Technology, India signed a Memorandum of Cooperation (MoC) with the Ministry of Communications and information Technology, Saudi Arabia on cooperation in the field of Digitization and Electronic Manufacturing.
- The Memorandum of Cooperation intends to strengthen collaboration in the field of Digitization, Electronic Manufacturing, e-Governance, smart infrastructure, e-Health and e-Education, promote partnership in research in digital innovation and the use of emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), Robots, Cloud Computing and Blockchain,
- This MoC would establish a framework for cooperation in the area of digitization and electronic manufacturing and establish partnerships between India and Saudi Arabia.
- The MoC aims to promote ways of innovative training and development through e-Teaching, e-learning and exchange programs in the digitization and electronics manufacturing and to develop joint training programs for capacity building and access to highly skilled Information and Communication Technologies professionals, strengthen SME and start-up ecosystem by sharing information on business accelerators, venture capital and incubators of technology start-ups which would indirectly generate employment opportunities for both parties.
- The collaboration activities under this MoC will promote cooperation in the area of Digitization and Electronic Manufacturing which are integral to the envisaged objectives of Atmanirbhar Bharat.
- Saudi Arabia – Riyadh (Capital) – Saudi riyal (Currency) – Salman (King) – Mohammed bin Salman (Crown Prince & Prime Minister) – Arabic (Language)
India signed MoU with Italy
- Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, India signed a Memorandum of Understanding with Directorate General for the Protection of Industrial Property-Italian Patent and Trademark Office of the Ministry of Enterprises and Made in Italy of the Italian Republic on Cooperation in the field of Industrial Property Rights.
- The MoU will promote between the Participants the establishment of a mechanism that allows them to develop cooperation activities in the field of IP and information technology services related to this field.
- The purpose of the MoU is to support enterprises, especially start-ups and SMEs in accessing to and participating in the national and international IPR systems.
- The MoU also seeks to streamline the procedures related to processing of IPR applications, fostering IP awareness, encouraging IPR commercialization and enforcement.
- The activities under the MoU will provide an opportunity for exchange and dissemination of best practices, experiences and knowledge in the field of IPRs through the participation in programs and events, organized singly or jointly by the
- Italy – Rome (Capital) – Euro (Currency) – Sergio Mattarella (President) – Giorgia Meloni (Prime Minister) – Italian (Language)
Indian Navy signed MoU with IIT Kanpur
- Indian Navy and Indian Institute of Technology Kanpur, signed a Memorandum of Understanding (MoU) today at Naval Headquarters, New Delhi, symbolising their commitment to promote technology development, innovative solutions and joint R&D.
- Indian Navy and IIT Kanpur share common interest in academic exchange of scientific research activities in the field of Engineering related to defence technologies.
- The MoU would serve as a broader framework and enable both sides to enhance capacity building, provide solutions to field level issues and enhance training effectiveness through exchange of faculty/ guest lectures.
- The structured collaboration focuses on joint Research and Development initiatives involving teams from Centre of Excellence (Marine Engg) at INS Shivaji, Lonavla and IIT Kanpur.
- This Strategic alignment signifies a move towards a symbolic relationship between the academia and the armed forces, fostering a conducive environment for innovation and knowledge exchange.
- 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)
Acquisitions and Mergers
Adani bought stake in newswire IANS
- Adani group has acquired a 5% stake in newswire services provider IANS India Pvt Ltd for ₹5.1 lakhs.
- The acquisition was done through Adani Enterprises’ subsidiary AMG Media Networks, which signed an agreement with IANS and its shareholder Sandeep Bamzai.
- AMG Media Networks Limited – 2002 (Founded) – Ahmedabad (HQ) – Sanjay Pugalia (CEO)
Appointments
Israel new Ambassador to India
- The Israeli government approved the appointment of Reuven Azar as the new Ambassador to India.
- He is currently serving as the Ambassador of Israel to
- He will replace Naor Gilon, who has been serving as the Israeli ambassador to India since 2021.
- Israel – Tel Aviv (Capital) – New shekel (Currency) – Isaac Herzog (President) – Benjamin Netanyahu (Prime Minister) – Hebrew (Language)
Indian candidate elected to governing council of UNIDROIT
- India’s Uma Sekhar was elected to the governing council of the Rome-based International Institute for the Unification of Private Law (UNIDROIT) in an election that saw 32 contestants in the fray including from the US, China, Saudi Arabia, Turkey and France.
- India will be a member of the body for the period 2024-28.
- The UNIDROIT is an independent intergovernmental organisation dealing with various legal issues including studying needs and methods for modernising commercial and private laws.
- The purpose of UNIDROIT is to study needs and methods for modernising, harmonising and coordinating private and in particular commercial law as between states and groups of states and to formulate uniform law instruments, principles and rules to achieve those objectives.
- International Institute for the Unification of Private Law (UNIDROIT) – 1926 (Founded) – Rome (HQ) – Professor Ignacio Tirado (Secretary General) – 65 Countries (Members)
Obituary
Kuwait Emir passed away
- Kuwait‘s ruling emir, Sheikh Nawaf Al Ahmad Al Sabah passed away at 86.
- Kuwait’s crown prince, Sheikh Meshal al-Ahmad al-Jaber Al-Sabah, was named the country’s new emir.
- He was sworn in as emir following the 2020 death of his predecessor, the late Sheikh Sabah Al Ahmad Al Sabah.
- Kuwait – Kuwait City (Capital) – Kuwaiti dinar (Currency) – Sheikh Meshal al-Ahmad al-Jaber Al-Sabah (Emir) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
Sports News
ITF World Champion awards for 2023
Category | Winner |
Women’s Single | Aryna Sabalenka |
Men’s Single | Novak Djokovic (8th Time) |
Women’s doubles | Storm Hunter and Elise Mertens |
Men’s doubles | Rajeev Ram and Joe Salisbury |
Women’s wheelchair category | Diede de Groot |
Men’s wheelchair category | Alfie Hewett |
Quad wheelchair category | Niels Vink |
Junior’s categories | Alina Korneeva and Joao Fonseca |
Important Days
Vijay Diwas
- Vijay Diwas is annually celebrated on December 16.
- Vijay Diwas is the victory day celebrated in Bangladesh for their victory over Pakistan in the Bangladesh Liberation War of
- Bangladesh – Dhaka (Capital) – Taka (Currency) – Mohammed Shahabuddin (President) – Sheikh Hasina (Prime Minister) – Bengali (Language)
Defence
Exercise Astrashakti
- Indian Air Force conducted exercise AstraShakti-2023 at Air Force Station Suryalanka and successfully testfired its SAMAR air defence missile system.
- The IAF has developed the Surface to Air Missile for Assured Retaliation (SAMAR) air defence missile system by using its old Russian-origin air-to-air missile systems.
- The missile system participated for the first time in the exercise to test its surface-to-air weapon systems and carry out their operational field trials.
- The missile system successfully achieved firing trial objectives in different engagement scenarios.
- Indian Air Force (IAF) – 26/01/1950 (Founded) – New Delhi (HQ) – Airforce Day (October 08) – Air Chief Marshal Vivek Ram Chaudhari (Chief of Air Staff) – ‘Touch the sky with Glory’ (Motto)
Ministry of Defence signed contract with BEL
- The Ministry of Defence (MoD) has signed a landmark contract with Bharat Electronics Limited (BEL) in Pune worth ₹5,336.25 crore for the procurement of electronic fuzes for the Indian Army.
- The contract will span over the next 10 years and comes under the “Manufacture of Ammunition for Indian Army by Indian Industry” initiative by the central government.
- The contract aims to build up the Indian Army’s ammunition stocks.
- Following the “Aatmanirbhar Bharat” vision, the deal will aim to minimise imports, achieve self-sufficiency in ammunition manufacturing, obtain critical technologies and secure stock affected by supply chain disruption.
- Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
Daily Current Affairs - December 16 & 17, 2023 - Consolidated
- ‘India’s fastest’ solar-electric boat launched
- Surat joined list of international airports
- Viksit Bharat Sankalp Yatra
- Atal Health Fair
- RBI imposed monetary penalty on five co-operative banks
- SBI invested ₹49.99 crore in Canpac Trends
- India signed MoU with USA
- India signed MoU with Tanzania
- India signed MoC with Saudi Arabia
- India signed MoU with Italy
- Indian Navy signed MoU with IIT Kanpur
- Adani bought stake in newswire IANS
- Israel new Ambassador to India
- Indian candidate elected to governing council of UNIDROIT
- Kuwait Emir passed away
- ITF World Champion awards for 2023
- Vijay Diwas
- Exercise Astrashakti
- Ministry of Defence signed contract with BEL
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