Daily Current Affairs – December 25 & 26, 2023
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Daily Current Affairs - Banking - December 25 & 26, 2023
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National News
India’s first AI city
- Uttar Pradesh planned to build India’s first AI city in Lucknow to house and promote the AI ecosystem.
- By integrating cutting-edge technology, research centres, and educational institutions, the AI city aspires to be a hub where ideas flourish and the workforce of tomorrow is nurtured, says an Expression of Interest (EoI) issued by UP Electronics Corporation Ltd., the nodal agency for the project, inviting a real estate developer to develop and operate the AI city.
- The government will provide 40 acres in Nadarganj Industrial Area for the project, which is free from all encumbrances and supports land acquisition, zoning regulations, and other relevant clearances.
- Financial support will be provided to the developer through attractive financial incentives, such as one-time Capex support of 25 per cent up to ₹20 crores for IT Park and ₹100 crores for IT City, and 100 per cent stamp duty exemption as per the IT and ITeS Policy, 2022.
- UP Electronics Corporation Ltd., is the nodal agency for the project.
Government gives Rs 5,228 crore subsidy to incentivize 11.53 lakh EVs in 2023
- The Government has given ₹5,228 crores subsidy to incentivise 53 lakh Electric Vehicles in the country this year.
- The Government has also sanctioned ₹800 crores to PSU Oil marketing companies for setting up 7432 public fast-charging stations across the country.
- At present a total of 148 Electronic Vehicles Public Charging Stations are working in the country.
- Ministry of Heavy Industries – Mahendra Nath Pandey,Union Minister (Chandauli,UP) – Krishan Pal Gurjar,Minister of State (Faridabad,Harayana)
International News
India-ASEAN set to review trade pact for modernisation in February
- India and the ten-member ASEAN will begin negotiations in February 2024 to “modernise” their decade-and-a-half-old free trade agreement (FTA) and bring in more balance in the pact currently weighed against New Delhi.
- But new areas such as labour, environment, SMEs and gender are likely to be kept out.
- The first round of negotiations for reviewing the FTA, officially known as the ASEAN India Trade in Goods Agreement (AITGA), will be on February 18-19 in New Delhi.
- The negotiations will follow a quarterly schedule to wrap up the exercise by
- India has been long pressing for a review of the AITGA, which was signed in August 2009 and implemented in January the following year, as the pact resulted in disproportionate benefits for the ASEAN.
- ASEAN (Association of Southeast Asian Nations) – 08/08/1967 (Founded) – Jakarta, Indonesia (HQ) – Kao Kim Hourn (Secretary General) – Indonesia (Chairman) – Member States (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand & Vietnam) – Observer States (East Timor & Papua New Guinea)
India makes first-ever rupee payment for the purchase of crude oil from UAE
- India, the world’s third-largest energy consumer, made its first-ever payment in rupees for crude oil purchased from the United Arab Emirates (UAE), signalling what could be a strategic push to promote the local currency globally.
- The move is part of India’s broader efforts to diversify oil suppliers, cut transaction costs, and establish the rupee as a viable trade settlement currency.
- This initiative aligns with the Reserve Bank of India’s move on July 11, 2022, allowing importers to pay in rupees and exporters to receive payments in the local currency.
- In July, India formalised an agreement with the UAE for rupee settlements, leading to the Indian Oil Corporation (IOC) making payments for purchasing one million barrels of crude oil from Abu Dhabi National Oil Company (Adnoc) in Indian rupees.
- Additionally, some Russian oil imports have also been settled in rupees.
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Arabic (Language)
State News
Manipur Launches SAANS Campaign 2023-24 to Tackle Pneumonia
- Manipur, State Health and Family Welfare Minister Sapam Ranjan Singh inaugurated the SAANS Campaign 2023-24 in Imphal.
- SAANS – Social Awareness and Action to Neutralize Pneumonia Successfully.
- It is an initiative to set up four more mother’s milk banks and comprehensive lactation management centres (CLMC) at a programme in Belagavi.
- The SAANS campaign is aimed at reducing mortality due to childhood pneumonia to less than three per 1,000 live births by 2025.
- Under the campaign, Accredited Social Health Activists (ASHAs) will screen children under the age of five for pneumonia symptoms and counsel mothers on the importance of breastfeeding and the danger signs of pneumonia.
- Manipur – Imphal (Capital) – N. Biren Singh (CM) – Anusuiya Uikey (Governor) – Manipuri (Language)
Shimla Winter Carnival
- Himachal Pradesh government’s initiative to roll out the first-ever 12-days Shimla Winter Carnival is expected to give a fillip to the tourism sector, which has suffered badly since a relentless monsoon brought the hill State to its knees this year and caused extensive damage to life and property.
- The event started with a cultural parade and a Mahanati (folk dance) performance presented by 450 women from self-help groups.
- The carnival offers local dishes, laser shows, and various cultural programmes, contributing to the celebration of Himachal Pradesh’s rich cultural heritage.
- Himachal Pradesh – Shimla (Summer), Dharamshala (Winter) (Capital) – Sukhvinder Singh Sukhu (CM) – Shiv Pratap Shukla (Governor) –Hindi (Language)
Schemes
Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN)
- Union Ministry of Tribal Affairs has initiated an Information, Education, and Communication (IEC) campaign for the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN), with an aim of reaching out to 22000 Particularly Vulnerable Tribal Groups (PVTG) majority tribal habitations and PVTG families in 200 districts across the country.
- Prime Minister Narendra Modi launched the PM-JANMAN on Janjatiya Gaurav Diwas (November 15, 2023), from the Khunti District of Jharkhand.
- The comprehensive IEC campaign has started initially in 100 districts, covering approximately 500 blocks and 15,000 PVTG habitations across 18 states and the Union Territory of Andaman and Nicobar Islands.
- In phase II, it will cover remaining districts.
- This campaign is an effort aimed at saturating PVTG families with individual entitlements and habitations with basic facilities, by making these tribal communities aware about their entitlements.
- During the campaign period, Aadhar card, Community certificate and Jan Dhan accounts will be provided as these are basic requirements for other schemes such as issue of Ayushman card, PM Kisan Samman Nidhi, Kisan credit card etc.
- This initiative will ensure to cover every PVTG household that has remained unreached because of distance, lack of road and digital connectivity and will provide facilities at their doorstep.
- Places like Haat Bazar, CSC, Gram panchayat, Anganwadi, Multipurpose centre, Vandhan Vikas Kendras, Krishi Vigyan Kendras will be used to organise these events.
- The Union Cabinet has approved the mission which focuses on 11 critical interventions related to 9 key aligned Ministries/Departments, with budgetary outlay of ₹24,104 crores (Central Share: ₹15,336 crore and State Share: ₹8,768 crore) from FY 2023-24 to 2025-26 under the Development Action Plan for Scheduled Tribes (DAPST).
- Ministry of Tribal Affairs – Arjun Munda,Cabinet Minister (Khunti,Jharkhand) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra) & Bisweshwar Tudu, Minister of State (Mayurbhanj,Odisha)
Banking and Finance
HDFC Life and NKGSB Co-Operative Bank Enter into a Corporate Tie-Up
- HDFC Life, one of India’s leading insurers, and NKGSB Co-operative Bank Ltd, Mumbai having a legacy of 106 years, have entered into a Corporate Agency tie-up enabling NKGSB Co-operative Bank customers to avail life insurance products of HDFC Life.
- NGKSB customers will be able to avail a bouquet of traditional, term, pensions and annuity products of HDFC Life.
- HDFC Life Insurance Company Ltd. – 2000 (Founded) – Mumbai (HQ) – Vibha Padalkar (MD & CEO)
Business and Economy
NABARD to tap global climate capital for Indian agriculture sector
- The National Bank for Agriculture and Rural Development (NABARD) has teamed up with the Asian Development Bank (ADB) to help the farming sector tackle the adverse impact of climate change.
- The two organisations, in association with the Bill and Melinda Gates Foundation, will tap climate capital to fund agricultural, natural resources and rural development (ANR) initiatives.
- The collaboration is aimed at enhancing food security and climate financing in India’s ANR sector.
- NABARD will also receive support to formulate a climate financing policy and its adoption.
- The partnership will identify and support food security and climate financing programmes in the ANR sector.
- The support can also be extended to NABARD’s ongoing and future projects, the ADB and other public and private funds can add value.
- The projects eligible for support include climate-resilient agriculture and agroforestry projects, irrigation modernisation projects, agriculture value chain financing through financial intermediaries, crop diversification projects, micro-irrigation projects, and JIVA (agro-ecology programme for revitalising natural resources management).
- Launched by NABARD, JIVA is a community-based participatory programme for watershed (rainfed) and wadi (tribal) areas, extending over 2.5 million hectares, with a funding commitment of about Rs 5,000 crore.
- ADB would also support capacity building in climate resilience and climate change financing through workshops and training sessions for NABARD, Bankers Institute of Rural Development, and other subsidiaries and stakeholders.
- The partnership will also seek to create and pilot-test climate change adaptation financing programmes that can be scaled up.
- National Bank for Agriculture and Rural Development (NABARD) – 12/07/1982 (Founded) – Mumbai (HQ) – Shri. Shaji K V (Chairman)
ETO Motors gets grant from SIDBI to deploy electric three-wheelers in Delhi and Hyderabad
- The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO Motors to deploy 300 electric three-wheelers in Hyderabad and Delhi for first- and last-mile passenger connectivity.
- The EV maker will also build an EV charging infrastructure to support the deployment of the electric three-wheelers.
- The financial support to ETO Motors is under SIDBI’s Mission 50K-EV4ECO which aims at strengthening the EV ecosystem in India, including uptake for two-, three- and four-wheelers through direct and indirect lending.
- The objective of this scheme is to provide access to affordable financing for electric vehicles and to develop charging infrastructure, including battery swapping.
- Small Industries Development Bank of India (SIDBI) – 02/04/1990 (Founded) – Lucknow,UP (HQ) – Sivasubramanian Ramann (Chairman & MD)
Education loans see record 20.6% surge in April-October
- According to Reserve Bank of India (RBI) data, Education loans registered a record year-on-year growth of 6 per cent at ₹1,10,715 crores in the current financial year till October compared with ₹96,853 crores in the year-ago period.
- Spurt in education loans was the highest in the last five years.
- The growth registered in the comparable period was 3 per cent FY23 and (-) 3.1 per cent in FY22.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Agreements and MoUs signed
20th 'Neuro Update 2023' conference
- Gujarat Chief Minister Bhupendra Patel inaugurated the 20th ‘Neuro Update 2023’ conference in Ahmedabad.
- This conference will feature discussions and speeches by renowned doctors in the field of neurology on the subject of the ‘Pragmatic Approach in Neurology.’
- At this conference, members of the Ahmedabad Association of Physicians, and professionals from across the country, including neurology doctors, professors, and professionals associated with neurology were present.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Science and Technology
MedTech Mitra Portal
- Union Health Minister Mansukh Mandaviya has launched MedTech Mitra an online portal that aims to assist medtech innovators in clinical evaluation, regulatory facilitation, and uptake of new products.
- The portal will be coordinated collaboratively by the Indian Council of Medical Research (ICMR) and the Central Drugs Standard Control Organisation (CDSCO), under the guidance of NITI Aayog’s Atal Innovation Mission.
- The launch of a separate portal for medtech startups comes months after the government launched the National Medical Device Policy and a scheme worth Rs 5,000 crore for the promotion of research in pharma and medtech sectors.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra), Satya Pal Singh Baghel ,Minister of State (Agra,UP)
Power
Adani Green executes 1799 MW solar power PPA with SECI
- Adani Green Energy Ltd. (AGEL) has executed a power purchase agreement with Solar Energy Corporation of India to supply 1,799 MW of solar power.
- With this, Adani Green has completed the power offtake tie-up for the entire 8,000 MW manufacturing-linked solar tender it was awarded in June 2020.
- AGEL has already commissioned a solar PV cell and module manufacturing plant with a capacity of 2 GW per annum through its associate company Mundra Solar Energy Ltd (MSEL).
- The plant is located at Mundra, Gujarat.
- Adani Green Energy Limited (AGEL) – 2015 (Founded) – Ahmedabad (HQ) – Vneet S Jain (MD & CEO)
Appointments
MD & CEO of North East Small Finance Bank
- Satish Kumar Kalra has been appointed interim managing director and chief executive officer of the merger-bound North East Small Finance Bank (NESFB).
- Satish Kumar Kalra was former Managing Director of Andhra Bank.
- North East Small Finance Bank (NESFB) – 25/07/2016 (Founded) – Guwahati, Assam (HQ)
Chairman of Bombay Stock Exchange
- The Securities and Exchange Board of India (SEBI) has given its nod for the appointment of former Coal India chief Pramod Agrawal as the chairman of the Bombay Stock Exchange (BSE), with effect from January 17, 2024.
- Agrawal will succeed SS Mundra, the outgoing chairman and public interest director of the bourse, whose term will expire on January 16.
- BSE Limited (Bombay Stock Exchange) – 09/07/1875 (Founded) – Mumbai (HQ) – Sundararaman Ramamurthy (MD & CEO)
Ranks and Indices
Forbes' 2023 list of highest-paid female athletes
- Forbes has released their list annually since 2008, and Swiatek joins Serena Williams, Maria Sharapova and Naomi Osaka as the only tennis players to land at the top.
- Nine of the Top 10 players in Forbes’ list were tennis players, with Eileen Gu the only outlier.
Rank | Name | Sports | Country | Amount |
1 | Iga Swiatek | Tennis | Poland | $23.9 million |
2 | Eileen Gu | Freestyle Skiing | United States | $22.1 million |
3 | Coco Gauff | Tennis | United States | $21.7 million |
4 | Emma Raducanu | Tennis | United Kingdom | $15.2 million |
5 | Naomi Osaka | Tennis | Japan | $15 million |
16 | PV Sindhu | Badminton | India | $7 million |
Simone Biles | Gymnastics | United States | $7 million |
Sports News
National Badminton Championships in Guwahati
- The National Badminton Championships 2023 was held at the RG Baruah Sports Complex in Guwahhati, Assam.
- Men’s singles: Chirag Sen
- Women’s singles: Anmol Kharb
- Men’s doubles: K Pruthvi Roy & Suraj Goala
- Women’s doubles: Priya Devi Konjengbam & Shruti Mishra
- Mixed doubles: Dhruv Kapila & Tanisha Crasto
Important Days
National Consumer Rights Day 2023
- National Consumer Rights Day is annually celebrated on December 24.
- In 1986, the Consumer Protection Act was passed and received the assent of the President on December 24.
- Since then, National Consumer Rights Day is celebrated on this day to commemorate the occasion.
- World Consumer Rights Day which is celebrated every year on March 15.
Good Governance Day 2023
- Good Governance Day is annually observed on December 25 in India.
- The day is celebrated to commemorate the birth anniversary of former Prime Minister Atal Bihari Vajpayee (10th PM).
- The day was established in 2014 to honor Prime Minister Vajpayee by fostering awareness among the Indian people of accountability in government.
- In 2019, the Narendra Modi government launched the Good Governance Index, “a scientifically prepared tool based on various parameters of good governance which assess the level of any state at a given point of time and help in shaping future development.”
Defence
Indian Navy to commission Stealth Guided Missile Destroyer 'Imphal' in Mumbai
- The Indian Navy is all set to commission its latest Stealth Guided Missile Destroyer Imphal at Naval Dockyard, Mumbai in the presence of Defence Minister Rajnath Singh as the chief guest.
- The event marks the formal induction into the Navy of the third of four ‘Visakhapatnam’ class destroyers, indigenously designed by the Indian Navy’s in-house organisation, Warship Design Bureau and constructed by Mazagon Dock Limited, Mumbai.
- Notably, Imphal is the first warship to have been named after a city from the North East, the approval for which was accorded by the President on 16 April 2019, thus underlining the importance of the region for national security, sovereignty and prosperity.
- Imphal was delivered to the Indian Navy on 20 October 2023 after completing a rigorous and comprehensive trial programme both in the harbour and at sea.
- 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)
Daily Current Affairs - December 25 & 26, 2023 - Consolidated
- India’s first AI city
- Government gives Rs 5,228 crore subsidy to incentivize 11.53 lakh EVs in 2023
- India-ASEAN set to review trade pact for modernisation in February
- India makes first-ever rupee payment for the purchase of crude oil from UAE
- Manipur Launches SAANS Campaign 2023-24 to Tackle Pneumonia
- Shimla Winter Carnival
- Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN)
- HDFC Life and NKGSB Co-Operative Bank Enter into a Corporate Tie-Up
- NABARD to tap global climate capital for Indian agriculture sector
- ETO Motors gets grant from SIDBI to deploy electric three-wheelers in Delhi and Hyderabad
- Education loans see record 20.6% surge in April-October
- 20th ‘Neuro Update 2023’ conference
- MedTech Mitra Portal
- Adani Green executes 1799 MW solar power PPA with SECI
- MD & CEO of North East Small Finance Bank
- Chairman of Bombay Stock Exchange
- Forbes’ 2023 list of highest-paid female athletes
- National Badminton Championships in Guwahati
- National Consumer Rights Day 2023
- Good Governance Day 2023
- Indian Navy to commission Stealth Guided Missile Destroyer ‘Imphal’ in Mumbai
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