Daily Current Affairs – December 29, 2023
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Daily Current Affairs - Banking - December 29, 2023
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National News
Piyush Goyal Launches E-Commerce Exports Handbook for MSMEs
- Union Commerce and Industry Minister Piyush Goyal launched the E-Commerce Exports Handbook for Micro, Small and Medium Enterprises (MSMEs) in New Delhi.
- E-commerce will be the natural bridge to connect different sectors of the country including MSMEs, craftsmen, weavers and farmers, with the rest of the world.
- 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)
International News
Finance Ministry imposes anti-dumping duty on ‘Wheel Loaders’ imports from China
- Finance Ministry has imposed definitive anti-dumping duty on ‘Wheel Loaders’ imports from China.
- The anti-dumping duty will be valid for five years unless revoked earlier.
- Based on the recommendations of the Designated Authority in the Commerce Ministry, the revenue department has imposed an anti-dumping duty ranging from 84 per cent of CIF Value in US dollars to 82.71 per cent of CIF value depending on the producer.
- A ‘nil’ duty has also been imposed on ‘Wheel Loaders’ produced by Liebherr Machinery (Dalian) Co Ltd.
- China – Beijing (Capital) – Renminbi (Currency) – Xi Jinping (President) – Chinese (Language)
State News
Telangana government launches Praja Palana programme
- Telangana Deputy Chief Minister Bhatti Vikramarka Mallu launched the Government’s Praja Palana programme in
- It envisages receipt of applications from people on their needs so that the government will have a comprehensive database of their needs at the grassroot level.
- The application form could be used for identification of beneficiaries of the six guarantees promised by the Congress in the run up to assembly elections.
- The programme which begins from today will be held till January 6 2024 in all the villages and wards across the State.
- Teams of officials will visit two villages per day to receive application forms, in prescribed format, from the people.
Power Minister Inaugurates Vishram Sadan to Aid Medical Care in Bengaluru
- Union Power, New and Renewable Minister K.Singh inaugurated the Vishram Sadan by Power Grid Corporation of India Ltd at National Institute of Medical Health and Neurosciences (NIMHANS) campus in Bengaluru.
- Vishram Sadan was built by Power Grid Corporation of India Ltd under its CSR, Corporate social Responsibility fund at a cost of ₹23 crores.
- The construction of the Sadan was started in 2020 and is built in an area of 6630 sq.meter.
- It consists of 55 rooms and 270
- The inmates are provided boarding and lodging facilities in a very clean and sanitized environment at nominal charges.
- This is the ninth Vishram Sadan constructed as part of the CSR initiative of Powergrid.
- Power Grid Corporation of India Limited – 23/10/1989 (Founded) – Gurugram, Haryana (HQ) – Kandikuppa Sreekant (MD & CEO)
Nitin Gadkari sanctions 29 road projects in Ladakh
- Union Minister for Road Transport and Highways Nitin Gadkari has sanctioned in the Union territory of Ladakh an allocation of ₹1170.16 crores for 29 roads projects, encompassing state Highway, major and other District roads.
- Additionally, ₹181.71 crore has been allocated for 8 bridge under the CRIF Scheme for the fiscal year 2023 24.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Schemes
Scheme for Residential Education for Students in High Schools in Targeted Areas (SHRESHTA)
- Ministry of Social Justice & Empowerment implements Scheme for Residential Education for Students in High Schools in Targeted Areas (SHRESHTA).
- The objective of SHRESHTA is to enhance the reach of development Intervention of the Government and to fill the gap in service deficient SCs dominant areas, in the sector of education through the efforts of grant-in-aid institutions (run by NGOs) and residential high schools offering high quality education and to provide environment for socio economic upliftment and overall development of the Scheduled Castes (SCs).
- The Scheme is further modified to provide easier access to the meritorious SC students in the best schools in the Country for their Educational and Holistic Development, thereby securing their future opportunities.
- Under this, each year a specified number of meritorious SC students in States/UTs will be selected through the National Entrance Test for SHRESHTA (NETS) to be conducted by the National Testing Agency (NTA) and admitted in the best private residential schools affiliated by CBSE/State Boards in classes 9th and 11th for completion of education till 12th
- Under this scheme, total 2,564 students were admitted in 142 Private Residential Schools affiliated by CBSE/State Boards for academic session 2023-24 and school fee of an amount of ₹30.55 Crores has been reimbursed by this Department.
- During 2020-21, BE was ₹100.00 Crores, expenditure was ₹56.05 Crores and no. of beneficiaries was 38,250.
- During 2021-22, BE was ₹.200.00 Crores, expenditure was ₹38.05 Crores and no. of beneficiaries was 20,435.
- During 2022-23, BE was ₹89.00 Crores., expenditure was ₹51.12 Crores and no. of beneficiaries was 16,479.
- During 2023-24, BE is ₹104.65.00 Crores, expenditure is ₹51.57 Crores and no. of beneficiaries is 7,543 (as on 10.12.2023).
- Ministry of Social Justice and Empowerment – Virendra Kumar Khatik,Cabinet Minister (Tikamgarh,MP) – Ramdas Athawale, Minister of State (Rajya Sabha MP,Maharashtra),Pratima Bhowmik, Minister of State (Tripura West,Tripura), A. Narayanaswamy, Minister of State (Chitradurga, Karnataka)
Banking and Finance
Central Bank of India partners with Kisetsu Saison Finance
- The Central Bank of India established a Co-Lending Partnership with Kisetsu Saison Finance (India) Private Limited, focusing on providing competitive MSME Loans.
- This collaboration aims to foster the expansion of portfolios for both entities.
- Under the agreement, Kisetsu Saison Finance will originate and process MSME loan proposals, with the Central Bank of India acquiring 80 per cent of these loans under mutually agreed terms.
- The partnership is anticipated to enhance customer experience and broaden their collective presence across India.
- Kisetsu Saison Finance (India) Private Limited – 2018 (Founded) – Bangalore (HQ)
Business and Economy
Mutual Funds, demat accounts: Sebi extends deadline for nomination filing till June 2024
- Capital markets regulator Securities and Exchange Board of India (SEBI) has once again extended the deadline for mutual fund and demat account holders to add the name of the beneficiary/beneficiaries or opt out of it till June 30, 2024.
- Earlier, the deadline for the same was December 31, 2023.
- Earlier, SEBI had pushed the deadline from September 30 to December 31 so that MF holders could complete the nomination process.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Credit growth to dip to 12-13% in FY25 from 16.5% in early Dec 2023: ICRA
- According to ICRA, the bank credit growth in India is likely to moderate to 12-13 per cent in the next financial year (FY25) from 5 per cent year-on-year in early December 2023.
- Incremental credit expansion has been robust so far at ₹15.5 trillion (till December 1, 2023) in the current financial year, against ₹18.2 trillion in FY2023.
- However, beyond this year (FY24), credit growth is likely to come off as tight liquidity conditions would eventually weigh down on growth.
- ICRA Limited (ICRA) – 1991 (Founded) – Gurugram, Haryana (HQ) – Ramnath Krishnan (MD & CEO)
India extends duty-free import of tur, urad dal until March 2025
- Indian government extended the free import policy, without quantitative restrictions, on tur (pigeon pea) and urad dal (black matpe) till March 2025, potentially helping higher domestic supply and keeping prices under control.
- The government had allowed the import of tur, urad and moong dal under the ‘free category’ with effect from May 15, 2021 and it was valid till October 31, 2021.
- Subsequently, it got extended as domestic production was hit with lower rainfall in key producing states.
Agreements and MoUs signed
IPL Biologicals inks MoU for ₹400-crore unit in Gujarat government
- IPL Biologicals signed a Memorandum of Understanding (MoU) with the Gujarat government for setting up a ₹400 crore bio-fertilizer and bio-pesticide facility in Gujarat.
- IPL Biologicals envisions the MoU with the Gujarat Government to develop a new facility as a significant contributor to sustainable agriculture.
- The major focus of the first phase of production will be on the company’s agriculture products, followed by probiotics and enzyme products.
- The project shall be on reducing chemical usage in the agribusiness sector and providing safe food production to the world.
- IPL Biologicals – 1994 (Founded) – Gurugram, Haryana (HQ)
Wardwizard Foods signs MoU with Gujarat government
- Wardwizard Foods and Beverages Limited’s entered into a memorandum of understanding with the government of Gujarat.
- The agreement was signed by DH Shah, Managing Director of Gujarat Agro Industries Corporation Limited, and Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Limited.
- The MoU outlines Wardwizard’s plans to expand its operations in Gujarat, focusing on the production of ready-to-eat foods, mayonnaise sauce, frozen foods, and more.
- The initiative involves investment of ₹500 crores.
Science and Technology
ONDC and Meta to digitally upskill five lakh MSMEs
- ONDC and Meta partnered to help small businesses by educating them to build conversational buyer and seller experiences on WhatsApp through Meta’s business and technical solution providers.
- To start, over the next two years, five lakh MSMEs will also be digitally upskilled through the Meta Small Business Academy.
- Meta Small Business Academy offers a certification to empower entrepreneurs and marketers to gain critical digital marketing skills to grow on the Meta apps.
- As part of the partnership, Meta will also support Sahayak, ONDC’s WhatApp chatbot, in enhancing the services offered on the bot as the single point of seller communication and customer communication for ONDC.
- Earlier this year, Meta launched the ‘WhatsApp Se Wyapaar’ program to upskill 10 million traders across 29 states in 11 Indian languages on the WhatsApp Business app.
Acquisitions and Mergers
Tata Power acquires 100% stake in Bikaner SPV
- Tata Power Company had acquired a 100% equity stake in Bikaner III Neemrana II Transmission, a special purpose vehicle (SPV) meant for the project for ₹18.6 crores.
- The special purpose vehicle formed in June 2023 will build, own, operate, and transfer electrical power transmission systems between Bikaner and Neemrana in Rajasthan.
- Tata Power Company Limited – 18/10/1919 (Founded) – Mumbai (HQ) – Praveer Sinha (MD & CEO)
ICICI AMC will acquire stake in three banks
- Reserve Bank of India (RBI) gave approval to ICICI Prudential Asset Management Company (ICICI AMC) to acquire 95 per cent stake in Federal Bank, RBL Bank and Equitas Small Finance Bank.
Appointments
Santosh Jha is the New High Commissioner of India to Sri Lanka
- Santosh Jha, presented his credentials to President Ranil Wickremesinghe at the Presidential Secretariat and assumed charge as the High Commissioner of India to Sri Lanka.
- Santosh Jha was India’s Ambassador to the European Union, Belgium & Luxembourg.
- He had earlier served as Ambassador of India to Uzbekistan from 2019-2020, and as the Deputy Chief of Mission at the Indian Embassy in Washington DC from 2017-2019.
- He has held key positions in the Ministry of External Affairs in New Delhi, including as head of Division for Human Resources and Management Affairs, Division for relations with Western Europe and the European Union, and the Policy Planning Division.
Vita Dani becomes first Indian to be inducted as ITTF governing board member
- Sports entrepreneur Vita Dani has become the first Indian to be inducted as a governing board member of the International Table Tennis Federation’s (ITTF) Foundation.
- The Foundation was established in 2018 by the ITTF to attract more people to the sport.
- She is also the co-owner of the Chennaiyin Football Club, which features in the Indian Super League.
- International Table Tennis Federation (ITTF) – 1926 (Founded) – Lausanne, Switzerland (HQ) – Petra Sörling (President)
Awards and Recognitions
Mr L P Hemanth K Srinivasulu Receives 'Man of the Year 2023' Award
- P. Hemanth K. Srinivasulu, the newly appointed Director of the Latin America and Caribbean Trade Council, was honored with the prestigious “Man of the Year-2023” award by Amit Shah, the Home Minister of India.
- The award recognizes Mr. Hemanth’s outstanding contributions to trade diplomacy and global economic relations.
- His strategic influence is evident in shaping the direction of companies such as Advanced Biotech, Datadensity, and Celeb Media.
Sports News
FIDE World Rapid and Blitz Chess Championships 2023
- IM Anastasia Bodnaruk clinched the women’s title while Grand Master Koneru Humpy clinched silver in the World Women Rapid Championships 2023 at Samarkand, Uzbekistan.
- In open section GM Magnus Carlsen secured the world rapid chess crown for a record fifth time while the Indian GM Vidit Gujrathi had to content with the fourth place.
- Fédération Internationale des Échecs (FIDE) International Chess Federation – 20/07/1924 (Formed) – Lausanne, Switzerland (HQ) – Arkady Dvorkovich (President)
Defence
Indian Navy unveils new design of Admirals' Epaulettes
- The Indian Navy unveiled the new design of Admirals’ Epaulettes.
- The Octagon in the new design, drawn from the Naval Ensign and inspired from Rajmudra of Chhatrapati Shivaji Maharaj is a true reflection of the rich maritime heritage.
- The adoption of the new design reaffirms its commitment to the two pillars of Prime Minister Modi’s Panch Pran- Pride on the country’s heritage and removal of the mentality of slavery.
- In the new design, the Golden Navy button reiterates the resolve to do away with the slavery mindset.
- The Octagon represents the eight cardinal directions that indicate an all-round long-term vision.
- The Sword emphasizes the essence of the Navy to be the cutting edge of National power.
- The Telescope symbolizes a long-term vision, foresight, and a weather eye in an ever-changing world.
- 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 29, 2023 - Consolidated
- Piyush Goyal Launches E-Commerce Exports Handbook for MSMEs
- Finance Ministry imposes anti-dumping duty on ‘Wheel Loaders’ imports from China
- Telangana government launches Praja Palana programme
- Power Minister Inaugurates Vishram Sadan to Aid Medical Care in Bengaluru
- Nitin Gadkari sanctions 29 road projects in Ladakh
- Scheme for Residential Education for Students in High Schools in Targeted Areas (SHRESHTA)
- Central Bank of India partners with Kisetsu Saison Finance
- Mutual Funds, demat accounts: Sebi extends deadline for nomination filing till June 2024
- Credit growth to dip to 12-13% in FY25 from 16.5% in early Dec 2023: ICRA
- India extends duty-free import of tur, urad dal until March 2025
- IPL Biologicals inks MoU for ₹400-crore unit in Gujarat government
- Wardwizard Foods signs MoU with Gujarat government
- ONDC and Meta to digitally upskill five lakh MSMEs
- Tata Power acquires 100% stake in Bikaner SPV
- ICICI AMC will acquire stake in three banks
- Santosh Jha is the New High Commissioner of India to Sri Lanka
- Vita Dani becomes first Indian to be inducted as ITTF governing board member
- Mr L P Hemanth K Srinivasulu Receives ‘Man of the Year 2023’ Award
- FIDE World Rapid and Blitz Chess Championships 2023
- Indian Navy unveils new design of Admirals’ Epaulettes
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