Daily GK Update- 31st Dec, 2023

NATIONAL UPDATES:

 

1. IIT Guwahati collaborated with Assam govt’s Arohan Scheme over STEM: The Indian Institute of Technology, Guwahati has collaborated with the Government of Assam’s flagship Arohan scheme to motivate meritorious students to pursue STEM subjects in their higher education. To date, the Institute has successfully hosted 3311 students (2009 girls and 1302 boys) and few hundred mentee teachers, inspiring them to explore the vast opportunities and interests in STEM education. Interestingly, the number of girl students was around 65 percent of the total participants, highlighting the importance of encouraging and promoting girl/women in STEM education. Under the Arohan scheme, IIT Guwahati has hosted meritorious students (Mentees) along with their Guide teachers/Officers in a total of 12 batches. During their visit to IIT Guwahati, these students had the opportunity to engage with institute faculty members, interact with students, and explore institutional facilities.

 

2. RK Singh inaugurated power grid’s Vishram Sadan in Bengaluru: Union Minister for Power, New and Renewable Energy RK Singh has inaugurated POWERGRID Vishram Sadan in Bengaluru. Built at a cost of about Rs 23 crore, this 2-storey Vishram Sadan has 270 beds. The 55 rooms of this Sadan are equipped with all necessary facilities and are capable of providing the maximum possible comfort to the attendants of the patients. POWERGRID as a responsible corporate citizen has built similar Vishram Sadans at AIIMS, New Delhi, IGIMS, Patna, DMCH Darbhanga, KGMU, Lucknow, Guwahati and Vsadodara for the benefit of the masses. Such Vishram Sadans are also being constructed by POWERGRID at Ranchi and Jhansi.

 

3. Reliance Jio joins hands with IIT Bombay to launch Bharat GPT: Reliance Jio Infocomm, India’s largest telecom service provider, is working with the Indian Institute of Technology Bombay to launch ‘Bharat GPT’, a large language model specifically tailor for India’s needs. The company is also “comprehensively thinking” to launch an operating system for smart televisions. Ambani said that the next 10 years will be defined by large-language models and generative AI.

 

4. 10th Edition of Sagar Parikrama: India’s Fisheries Minister Parshottam Rupala inaugurated the 10th edition of Sagar Parikrama – a coastal yatra spreading awareness about government welfare schemes among fishermen. Key Focus Areas The 15-day journey spans fishing harbors and villages across Andhra Pradesh and Puducherry. ..

 

INTERNATIONAL UPDATES:

 

1. Leap Year 2024: February 29th only comes once every four years – but what exactly is a leap year and why was an extra calendar day needed? Accounting for Earth’s True Revolution A solar year equals one full revolution of Earth around the ..

OTHER UPDATES:

DEFENCE

 

1. Vice Admiral Kiran Deshmukh Takes Charge as Indian Navy’s Chief of Material: On January 1st, Vice Admiral Kiran Deshmukh assumed duties as the Chief of Material of the Indian Navy. He took over from Vice Admiral Sandeep Naithani, who retired following 39 years of praiseworthy service spearheading the Navy’s maintenance efforts. Key ..

 

SCIENCE AND TECHNOLOGY

 

1. ISRO launched FEAST software and book to guide faculty and students: The Vikram Sarabhai Space Centre (VSSC) of the Indian space agency ISRO, has developed an analysis software that is used to perform Finite Element Analysis (FEA) of various types of structures including rockets, aircraft, satellites, buildings, etc. FEA is a computerised method for predicting how a component or a structure reacts to real-world forces- like various types of structural loads, thermal conditions and other physical effects that a structure experiences while in operation. During the design and development phase of a product, FEA is carried out to evaluate how well and safely the structure/component can withstand the various loads, and perform its intended function without any failure. With their latest offering—an FEA software known as FEAST (Finite Element Analysis of Structures)— Indian Space Research Organisation (ISRO) hopes to take this indigenous and customisable FEA software to the Indian user base.

 

BANKING AND FINANCE

 

1. ICICI Pru Mutual Fund to acquire 9.95% stake in Federal, RBL Bank: The Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd (ICICI AMC) for acquiring up to 9.95 percent stake in the bank. The approval granted by the Reserve Bank of India (RBI) is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023. Meanwhile, RBI also accorded approval to ICICI AMC to acquire a 9.95 percent stake in RBL Bank and Equitas Small Finance Bank.

 

2. HDFC Bank approves re-appointment of Atanu Chakraborty as chairman for 3 years: Private lender HDFC Bank board has recommended the reappointment of Atanu Chakraborty as the part-time non-executive chairman and independent director, subject to further approval. The matter is with the Reserve Bank of India for a second term of three years from May 5, 2024, to May 4, 2027 approval. Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of Economic Affairs in April 2020. Chakraborty mainly worked in areas of Finance & Economic Policy, Infrastructure, Petroleum & Natural Gas. In the Union Government, he held various posts such as Secretary to Government of India in the Ministry of Finance- Department of Economic Affairs (DEA) during FY 2019-20.

Daily GK Update- 30th Dec, 2023

 

NATIONAL UPDATES:

 

1.Gujarat emerged as India’s ‘Petro Capital’: ith the world’s largest grassroot oil refinery in Jamnagar and OPaL petrochemical complex at Dahej in Bharuch district, Gujarat is now recognized as the ‘petro capital’ of India. Reliance Industries Ltd’s (RIL) Jamnagar refinery is the largest and most complex single-site refinery in the world with 1.4 million barrels per day (MMBPD) crude processing capacity. The Jamnagar refinery complex houses some of the world’s largest units, such as the fluidized catalytic cracker, coker, alkylation, paraxylene, polypropylene, refinery off-gas cracker, and petcoke gasification plants.

 

2. President Murmu to attend Karbi Youth Festival-2024 in Assam: President Droupadi Murmu will be the Chief Guest at the celebration of the Karbi Youth Festival on 17 January 2024. The festival will be held at Taralangso, Diphu. The celebration, from January 12-19, will feature traditional art, folk dance, music, and indigenous tribal foods. Other dignitaries attending include Assam Governor Gulab Chand, Meghalaya Governor Phagu Chauhan, and Assam CM Himanta Biswa Sarma.

 

3. ATGL and Flipkart sign MoU for supply chain decarbonization: Adani Total Gas Ltd (ATGL) and Flipkart have entered into a Memorandum of Understanding to collaborate on decarbonizing Flipkart’s supply chain. The initiative aims to reduce Flipkart’s carbon footprint in the primary, secondary, and tertiary movements of goods across sourcing locations, warehouses, and customer deliveries. Under the MoU, ATGL will provide decarbonizing solutions, supporting Flipkart’s transition to cleaner fuel options, including natural gas, and the integration of electric vehicles (EVs). Adani Total Energies E-Mobility Ltd (ATEL), a subsidiary of ATGL, will deploy EV charging infrastructure at Flipkart’s pan-India supply chain, encompassing warehouses and logistics locations. This partnership is expected to contribute to the decarbonization of the e-commerce logistics segment in India, which handles over 8 million shipments per day.

 

INTERNATIONAL UPDATES:

 

1. India and Russia signed Protocol on Consultations for next four years: India and Russia have signed a Protocol on Consultations for the period of next four years (2024-28) to make progress in economic cooperation, energy trade, connectivity, military-technical cooperation, and people-to-people exchanges. Jaishankar said the relations between India and Russia have been strong and steady, living up to the responsibility of a special and privileged strategic partnership. India and Russia also signed two important agreements to take forward the further implementation of Kudankulam nuclear power projects in India.

 

2. The Kenya Poverty and Equity Assessment 2023 Report: While Kenya has achieved substantial poverty reduction over 2005-2019, progress remains geographically uneven, leaving many behind, according to a new World Bank report. It prescribed policy pathways for more inclusive growth. The Good and Bad – Falling Poverty, Persisting Gaps ..

 

3. China Launches Massive Ship to Drill Into Earth’s Mantle: China has built an enormous ocean drilling vessel called the Mengxiang to achieve humanity’s first-ever excavation into the Earth’s upper mantle. The ambitious mission could uncover clues about our planet’s inner workings and evolution. An Engineering Marvel The supersized Mengxiang ..

 

OTHER UPDATES:

DEFENCE

 

1. Nina Singh becomes first woman to be appointed as DG of CISF: The central government has appointed Nina Singh as the first woman Director General of the Central Industrial Security Force (CISF). The 1989-batch IPS officer of the Rajasthan cadre is currently working as the Special DG of the CISF. Meanwhile, Rahul Rasgotra, the Special Director of the Intelligence Bureau (IB), was appointed as the new Director General of the Indo-Tibetan Border Police (ITBP). He is also a 1989-batch IPS officer but from the Manipur cadre. The current ITBP chief, Anish Dayal Singh, was appointed as the Director General of the Central Reserve Police Force (CRPF). He worked for the country’s internal security and counter-intelligence agency, IB, for a long time. Dayal is currently investigating the Parliament security breach incident that happened on December 11.

 

2. Pakistan successfully tests Fatah-II guided multi-launch rocket system: Pakistan has conducted a successful flight test of indigenously developed guided multi-launch rocket system ‘Fatah-II’, which is capable of engaging targets with high precision up to a range of 400 kilometres. The ‘Fatah-II’ is “equipped with state-of-the-art avionics, sophisticated navigation system and unique flight trajectory,” the Inter-Services Public Relations (ISPR), the media wing of the military. The weapon system is capable of engaging targets with high precision up to a range of 400 kilometres.

 

3. Indian Navy Adopts New Rank Insignia Inspired by Shivaji: Aligning with the PM’s call to shed vestiges of colonialism, the Indian Navy has unveiled redesigned shoulder insignia for top Admirals incorporating elements from Chhatrapati Shivaji Maharaj’s royal seal. Octagonal Shape Based on Naval Ensign The new epaulettes feature an ..

SPORTS

 

4. PV Sindhu makes it into Forbes list of highest-paid women athletes in 2023: Badminton star PV Sindhu has made it into the list of 2023’s highest-paid women athletes by Forbes where she finished at the 16th spot alongside gymnast Simone Biles with her $7.1 million earnings. Last year Sindhu was placed 12th with her $7.1 million earnings in a list which was led by Japanese tennis star Naomi Osaka. Sindhu had broken into the top 10 in the 2018 list with $8.5 million which placed her at 7th.Polish tennis star Iga Swiatek who is valued at $23.9 million at first spot. She won the French Open and ended the year as the No.1 ranked player in the world. She is followed by freestyle skiing star Eileen Gu from China whose value is $22.1 million.

 

SCIENCE AND TECHNOLOGY

 

1. ISRO launched FEAST software and book to guide faculty and students: The Vikram Sarabhai Space Centre (VSSC) of the Indian space agency ISRO, has developed an analysis software that is used to perform Finite Element Analysis (FEA) of various types of structures including rockets, aircraft, satellites, buildings, etc. FEA is a computerised method for predicting how a component or a structure reacts to real-world forces- like various types of structural loads, thermal conditions and other physical effects that a structure experiences while in operation. During the design and development phase of a product, FEA is carried out to evaluate how well and safely the structure/component can withstand the various loads, and perform its intended function without any failure. With their latest offering—an FEA software known as FEAST (Finite Element Analysis of Structures)— Indian Space Research Organisation (ISRO) hopes to take this indigenous and customisable FEA software to the Indian user base.

 

2. Indian Scientists Develop Eco-Friendly Solar Cell Material: Indian researchers have created a novel solar harvesting material that substitutes toxic lead with greener magnesium. This marks an important breakthrough for affordable and sustainable photovoltaics. The Promise and Perils of Perovskite Perovskite solar cells have shown tremendous efficiency promises ..

BANKING AND FINANCE

 

3. ICICI Pru Mutual Fund to acquire 9.95% stake in Federal, RBL Bank: The Reserve Bank of India has accorded approval to ICICI Prudential Asset Management Company Ltd (ICICI AMC) for acquiring up to 9.95 percent stake in the bank. The approval granted by the Reserve Bank of India (RBI) is subject to compliance with the relevant provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023. Meanwhile, RBI also accorded approval to ICICI AMC to acquire a 9.95 percent stake in RBL Bank and Equitas Small Finance Bank.

 

 

 

Daily GK Update- 29th Dec, 2023

 

NATIONAL UPDATES:

 

1. Kerala CM launched new board for transparent Public Sector Recruitment: Kerala Chief Minister Pinarayi Vijayan has inaugurated an autonomous board established by the state government to recruit efficient and skilled candidates for Public Sector Units (PSUs) through a transparent selection process. The board aims to enhance the efficiency of public sector institutions in the state, he said during the inauguration of the Kerala Public Enterprises (Selection and Recruitment) Board, and its office at Vellayambalam. The recruitment of public sector undertakings under the Department of Industries and Commerce will be under the board’s purview in the first phase. Initial tasks include selection for various posts in 20 public institutions and appointing managing directors in 22 public sector institutions.

 

2. Delhi, Bangalore, Mumbai host over 20% of India’s crypto investments: A report by crypto trading platform Coin Switch showed Delhi maintained its lead in India’s crypto adoption, followed by Bangalore and Mumbai. The parameter for this was in terms of value invested. According to the report, more than 20 percent of India’s total crypto investments are concentrated in the three major metropolitan areas: Delhi (9 percent), Bangalore (8 percent) and Mumbai (5 percent). Ghaziabad claimed the 10th position in the list of the top invested cities, replacing Patna. Around 75% of crypto investors are under 35 years old, while women make up 9% of India’s crypto investor base. Dogecoin, Bitcoin, and Ethereum were the most invested cryptocurrencies of the year.

 

3. Katie Moon appoints as ambassador of Mumbai Marathon: Two-time pole vault world champion and Tokyo Olympics gold medalist Katie Moon has been roped in as event ambassador for the 19th edition of the Tata Mumbai Marathon. Promoted by Procam International, the Mumbai Marathon is a World Athletics Gold Label Race. Moon had clinched gold medal at the 2022 Eugene and 2023 Budapest World Athletics Championships.

 

INTERNATIONAL UPDATES:

 

1. Cabinet approves opening of Consulate General of India in Auckland, New Zealand: The Union Cabinet chaired by the Prime Minister, Narendra Modi has approved the proposal to open a Consulate General of India in Auckland, New Zealand. Opening of Consulate General of India in Auckland would help in increasing India’s diplomatic footprint and strengthen India’s diplomatic representation in view of India’s increasing global engagement. This will also help promote India’s strategic and commercial interests and better serve the welfare of the Indian community in Auckland. The Consulate is likely to be opened and fully operationalized within a time frame of 12 months.

 

2. India and Italy signed Mobility and Migration Partnership Agreement: The Union Cabinet has provided ex-post facto approval to the Ministry of External Affairs’ proposal to sign and ratify the Migration and Mobility Agreement between India and Italy. This agreement aims to strengthen ties between both cultures and promote mobility among students, skilled workers, business professionals, and young talent. This also includes a 12-month residency that may be granted to Indian students in Italy for work experience. This agreement was signed on November 2, 2023, by External Affairs Minister S Jaishankar and the Italian Minister of Foreign Affairs and International Cooperation, Antonio Tajani. Now, Union cabinet, chaired by Prime Minister Narendra Modi, approved the proposal to move ahead.

 

3. India and Malaysia sign an MoU for Cooperation in Broadcasting: The Union Cabinet chaired by Prime Minister, Narendra Modi has approved the MoU/Agreement to strengthen the cooperation in the field of broadcasting, exchange of news, and audio-visual programmes as well as significantly augment India’s friendly relations with Malaysia. With this, the total number of MoUs signed by Prasar Bharati with different countries has increased to 46. Prasar Bharati plays a very important role in nation-building and lays continuous focus on providing meaningful and accurate content to one and all, both within the country and abroad. These MoUs are going to be crucial in distribution of content in other countries, in developing partnerships with international broadcasters and exploring new strategies to address the demands of new technologies.

 

4. PPP nominated first Hindu woman for elections in Khyber Pakhtunkhwa: Pakistan People’s Party nominates Dr Saveera Parkash, to contest from Khyber Pakhtunkhwa’s Buner district in the General Elections. The decision comes following the Pakistan Electoral Commission’s mandate of having at least 5% women candidates on general seats. Prakash, a member of the PPP women’s wing, will run for the PK-25 seat in the February 8 elections. Her father, Oam Parkash is a retired doctor and has been an active member of the PPP for over three decades. Saveera was also serving as the PPP women’s wing General Secretary in Buner.

 

OTHER UPDATES:

DEFENCE

 

1. Anish Dayal Singh Appointed Director General of CRPF: Anish Dayal Singh has been appointed as the Director General of Central Reserve Police Force (CRPF). Mr Singh is a 1988-batch Indian Police Service (IPS) officer of Manipur cadre. Earlier he was heading Indo-Tibetan Border Police (ITBP). The Central Reserve Police Force (CRPF) is a reserve gendarmerie and internal combat force in India under the authority of the Ministry of Home Affairs (MHA) of the Government of India.

 

2. Rahul Rasgotra has been appointed as the Director General of ITBP: Senior IPS officer Mr. Rahul Rasgotra is a (1989-batch-Manipur cadre) has been appointed as  the Director General of Indo-Tibetan Border Police (ITBP). Rahul Rasgotra, at present a special director in the Intelligence Bureau (IB). The Indo-Tibetan Border Police (ITBP) is a border guarding force of India deployed along its borders with Tibet Autonomous Region.

 

3. Nina Singh First Woman CISF Chief: Nina Singh has been appointed as the chief of Central Industrial Security Force (CISF). Currently, Nina Singh (1989-batch IPS officer -Rajasthan cadre) is working as Special Director General, CISF. CISF is a federal police organisation in India under the Ministry of Home Affairs. Vivek Srivastava, a 1989-batch IPS officer of Gujarat cadre, will be Director General, Fire Service, Civil Defence and Home Guards. He has been appointed to the post till June 30, 2025.

 

SPORTS

 

1. Suriya acquired ownership of Chennai in Indian Street Premier League: National Award winner Suriya has joined the Indian Street Premier League (ISPL) as the owner of team Chennai. The ISPL is India’s first tennis ball T10 cricket tournament that will be played inside a stadium. The tournament will feature 19 high-intensity matches, boasting a line-up of six teams – Hyderabad, Mumbai, Bengaluru, Chennai, Kolkata, and Srinagar. Recently, Amitabh Bachchan, Akshay Kumar, Hrithik Roshan, and Ram Charan were announced as the team owners of Mumbai, Srinagar, Bengaluru, and Hyderabad, respectively. The ISPL is scheduled to be held from March 2 to March 9 in Mumbai.

 

SCIENCE AND TECHNOLOGY

 

1. China launches a Long March-11 carrier rocket into space: China has successfully launched a Long March-11 carrier rocket into space, sending three satellites into planned orbit. The Taiyuan Satellite Launch Center launched the rocket from waters off the coast of Yangjiang, south China’s Guangdong Province. The satellites will be mainly used for space science and technology experiments. It was the 503rd mission of the Long March carrier rocket series.

 

BANKING AND FINANCE

 

1. Reserve Bank of India approves IDFC-IDFC First Bank merger: Reserve Bank of India has given its nod for the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank. The boards of IDFC First Bank and IDFC have approved the reverse merger in July. As part of the composite scheme of amalgamation, IDFC FHCL would first merge with IDFC and then IDFC into IDFC First Bank Ltd. The scheme remains subject to other statutory and regulatory approvals, including from the National Company Law Tribunal and the respective shareholders and creditors of the companies involved under the applicable laws. Under the proposed reverse merger scheme, an IDFC shareholder will get 155 shares for every 100 shares she/he holds in the bank. Both stocks have a face value of Rs 10 each.

Daily GK Update- 28th Dec, 2023

 

NATIONAL UPDATES:

 

1. PM Modi chairs National Conference of Chief Secretaries in new Delhi: Prime Minister Narendra Modi is chairing the National Conference of Chief Secretaries in New Delhi. This is the third such conference, the first being held in June 2022 in Dharamshala and the second in January this year in Delhi. The National Conference of Chief Secretaries is organized to encourage participative governance and partnership between the Centre and the State Governments.

 

2. TCIL pays Rs 14.20 crore dividend to the Government for FY 2022-23: Telecommunications Consultants India Ltd (TCIL) has paid a dividend of Rs 14.20 crore to the government for Financial Year 2022-23. Since its inception, the TCIL has been a consistently profit-making Company. It has so far paid dividend of Rs 294.19 crore to the Government till FY 2022-23. The dividend is on Government’s initial investment in equity of Rs 0.3 Crore. Rs16 crore was further infused during 2015-16. The group and standalone net worth of the company are Rs 1,712.00 crore and Rs 618.56 crore respectively as on 31st March 2023. In FY 2022-23, the TCIL achieved a revenue growth of 25 per cent over previous year with total Standalone revenue and profit after tax of Rs 2,001.7 crore and Rs 35.50 crore respectively.

 

3. Ayodhya Train Station Renamed As Ayodhya Dham: The Ayodhya railway junction in Uttar Pradesh has been officially renamed as Ayodhya Dham junction. The redeveloped station is set to be inaugurated by Prime Minister Modi on December 30 in Ayodhya, before the highly anticipated consecration ceremony at the Ram temple on January 22. The Ayodhya Dham Railway Station is undergoing development in three phases. The first phase has been successfully completed. The station, with a total cost of ₹430 crore, is designed to accommodate up to 100,000 passengers. Its architecture blends modern solutions with the aesthetics of traditional Indian temple architecture.

 

INTERNATIONAL UPDATES:

 

1. PM Narendra Modi becomes first world leader to have 20 million YouTube subscribers: Prime Minister Narendra Modi’s YouTube channel has achieved a significant milestone by surpassing 20 million subscriptions, making it the most subscribed channel among top global leaders. The second-ranking leader is former Brazilian President Jair Bolsanora, whose subscriber count stands at a modest 6.4 million, merely a fraction of Modi’s. The third most-subscribed channel among world leaders is the Ukraine President is far behind at 1.1 million. Whereas fourth on the list, United States President Joe Biden has a subscriber count of only 794,000 on his YouTube channel.

Moreover, when it comes to views, Modi’s channel continues to dominate, recording an impressive 2.24 billion views in December 2023. This figure is an astonishing 43 times higher than that of Zelenskyy, who holds the second-highest number of views globally.

2. India, Russia ink pacts on construction of future power units: India and Russia have signed some “very important” agreements related to the construction of the future power-generating units of the Kudankulam nuclear power plant. The Kudankulam nuclear power plant, India’s largest, is being built in Tamil Nadu with the technical assistance of Russia. The construction began in March 2002. Since February 2016, the first power unit of the Kudankulam NPP has been steadily operating at its design capacity of 1,000 MW. The plant is expected to start operating at full capacity in 2027.

 

3. Bisleri signed Deepika Padukone as it’s Global Brand Ambassador: Bisleri, India’s leading mineral water brand has roped in Global Indian Icon Deepika Padukone as its first-ever global brand ambassador in the new campaign Bisleri #DrinkItUp. The campaign is a fresh and never seen before take on hydration infusing excitement and fun. The ad film showcases Padukone grooving to a snappy and modern take on the iconic song ‘Jhoom Jhoom Jhoom Baba’ while relishing the pure refreshment of the original beverage, ‘water’. The campaign will be promoted across multiple platforms, including TV, digital, and OTT platforms. The Bisleri #DrinkItUp campaign has been shot by Nirvana Films and directed by ace director Prakash Verma while Bisleri’s association with Deepika Padukone was managed by Wavemaker and GroupM ESP.

 

OTHER UPDATES:

 

SPORTS

 

1. Kartik Aaryan signed as Brand Ambassador for Football: Sony Sports Network has roped in Bollywood actor and youth icon Kartik Aaryan, who is known to be an avid football follower, as their brand ambassador for football. Kartik will be seen promoting the footballing action on the Sony Sports Network, which will be home to the UEFA EURO 2024, the UEFA Champions League, the Bundesliga and more for the year ahead. This strategic partnership aims to bring football closer to a wider Indian audience and ignite passion for the sport across generations.

 

2. Sharvaanica becomes champion in two formats at Asian Youth Chess: Eight-year-old A.S. Sharvaanica has become the champion in two formats of the Asian Youth Chess Championships at Al Ain in the UAE. She secured gold in the U-8 rapid and blitz categories, and silver in the U-8 classical category. The 25th Asian Youth Chess Championships witnessed the participation across age groups of 42 players from 21 countries.

 

BANKING AND FINANCE

 

1. C S Rajan appointed as chairman of Kotak Mahindra Bank: The Reserve Bank of India (RBI) has approved the appointment of C S Rajan (IAS officer of 1978 batch) as its part-time chairman for a period of two years, with effect from January 1, 2024. Rajan’s appointment follows the retirement of the incumbent non-executive independent part-time chairman, Prakash Apte. Rajan is a successful leader with over 40 years of experience across significant government portfolios.

 

2. Muthoot FinCorp raises ₹200 crore from SBI via NCDs: Muthoot FinCorp, the flagship company of the 136-year-old Muthoot Pappachan Group (Muthoot Blue), has raised ₹200 crore from State Bank of India, via the private placement of non-convertible debentures (NCDs). The debt securities have a five-year maturity and half-yearly frequency for interest payment. They are rated ‘AA’ by Crisil with a ‘stable’ outlook. Proceeds of this will be utilised for onward lending, business operations and further expansion and growth plan. The NBFC has over 3,600 branches across India and offers gold loans, Vyapar Mitra business loans, two-wheeler loans, used car loans, home Loans, loan against property, domestic and international money transfer, foreign exchange, Insurance, and wealth management services.

 

3. Current account gap narrows to 1% of GDP at $8.3 bn in Q2FY24: RBI: India’s current account deficit declined sharply to 1 percent of the GDP or $8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to RBI data. The current account deficit (CAD) was 3.8 percent of GDP or $30.9 billion in the July-September quarter in 2022-23. CAD was $9.2 billion or 1.1 percent of GDP in the first quarter (April-June) of the current financial year 2023-24. Underlying the lower current account deficit on a year-on-year (y-o-y) basis in Q2:2023-24 was the narrowing of merchandise trade deficit to $61.0 billion from $78.3 billion in Q2:2022-23.

 

AWARDS AND HONOURS

 

1. Devendra Fadnavis Conferred Honorary Doctorate By Japanese University: Maharashtra deputy chief minister Devendra Fadnavis was conferred an honorary doctorate by Japan’s Koyasan University. The university conferred the doctorate on Fadnavis to recognise his efforts in creating basic civic infrastructure, implementing schemes such as the Jalyukta Shivar Yojana, and his contribution to the industrial development of the state. In 2015, while he was the chief minister of Maharashtra, Fadnavis inaugurated a statue of Dr Babasaheb Ambedkar at the Buddhist study centre of the university in Japan.

 

 

 

Daily GK Update- 27th Dec, 2023

 

NATIONAL UPDATES:

 

1. PM Modi's personal YouTube Channel reaches two crore subscribers: Prime Minister Narendra Modi has become the first world leader whose personal YouTube Channel has reached two crore subscribers. The channel has also crossed nearly 450 crore views on its videos. Narendra Modi's YouTube Channel has also surpassed the YouTube channels of his Indian and Global contemporaries in terms of views and subscribers.

 

2. UP CM inaugurated state’s first intra-district chopper service: Marking the birth anniversary of former Prime Minister Atal Bihari Vajpayee, Uttar Pradesh Chief Minister Yogi Adityanath has inaugurated UP’s first intra-district helicopter service from Bateshwar in Agra to Goverdhan in Mathura. Based on the private-public partnership (PPP), the helicopter service is to be run by a private player from Uttrakhand. A helicopter service will cover a distance of 65 km between Agra city and Mathura. CM Yogi Adityanath also unveiled a statue of former PM Atal Bihari Vajpayee on his birth anniversary in his native village Bateshwar in Agra district. UP CM also laid the foundation stone of projects worth ₹100 crore, which are aimed at bringing new life to Bateshwar, a historical village located amid the ravines of Chambal across the borders of Uttar Pradesh and Madhya Pradesh.

 

3. Health Minister launched ‘MedTech Mitra’ to advance health Solution.: Union Health Minister Mansukh Mandaviya has virtually launched MedTech Mitra – a strategic initiative to empower MedTech innovators and advance healthcare solutions. It will be a game-changer for Indian MedTech industry and facilitate indigenous development of affordable, quality MedTech devices and diagnostics. He said the medical devices sector is an integral constituent of India’s healthcare sector. He also said India is taking a holistic approach to health with a vision to transform the health landscape in the country by 2047.

 

4. Bihar Police to launch ‘Mission Investigation@75 days’: Bihar Police will launch a new initiative, “Mission Investigation@75 days”, making it mandatory for investigators to complete the investigation of cases within 75 days of FIR registration starting from January 1 next year. The Bihar government is preparing to take several measures from January 1, 2024 to make the state police more people-friendly and accountable. Our main focus is to improve the quality of investigation. The performance of all police stations and district police will also be reviewed on a monthly basis from January 1.

 

INTERNATIONAL UPDATES:

 

1. UN chief appoints Sigrid Kaag as senior humanitarian coordinator for Gaza: UN Secretary-General Antonio Guterres has appointed Sigrid Kaag of the Netherlands as the senior humanitarian and reconstruction coordinator for Gaza. Kaag will facilitate, coordinate, monitor and verify aid consignments to the embattled enclave, in line with a recent UN Security Council resolution. She will also establish a UN mechanism to accelerate humanitarian relief shipments through states that are not party to the conflict, Xinhua news agency reported.

 

2. UK to introduce carbon import levy on certain products by 2027: United Kingdom will implement a new carbon import levy on some products from 2027 to help to protect businesses against cheaper imports from countries with less strict climate policies. The planned carbon border adjustment mechanism (CBAM) will apply to carbon-intensive products in the iron, steel, aluminium, fertiliser, hydrogen, ceramics, glass and cement sectors. The charge applied will depend on the amount of carbon emitted in the production of the imported good and any gap between the carbon price applied in the country of origin and the carbon price faced by UK producers. Britain, which has a target of reaching net zero emissions by 2050, launched an emissions trading system (ETS) in 2021 to charge power plants, factories and airlines for each tonne of carbon dioxide they emit as part of efforts to meet that goal.

 

3. India to Acquire Five Lithium Blocks in Argentina: The Indian government is planning to enter into exploration and development agreements with the Argentina government for five lithium blocks that have been identified by Khanij Bidesh India (KABIL) in Catamarca province. The Centre will be investing around Rs 200 crore over the next five years for the purpose of exploring and developing these mines. This marks India’s second attempt at signing a foreign partnership for sourcing critical minerals after previously signing a memorandum of understanding with Australia’s Critical Minerals Facilitation Office (CMFO) in 2022. The 2022 agreement allowed India to explore five blocks, two for lithium and three for cobalt.

 

4. 27 December – International Day of Epidemic Preparedness: International Day of Epidemic Preparedness is observed every year on 27 December. This special day encourages everyone, including individuals, institutions, and governments, to participate in educational and awareness activities that suit their country’s needs. It emphasizes how crucial it is to prevent, prepare for and work together against outbreaks like diseases. The United Nations proclaimed on December 7, 2020, that December 27 would be the International Day of Epidemic Preparedness. The first-ever International Day of Epidemic Preparedness was organised on December 27, 2020, to show how important it is to be ready for and fight against epidemics.

 

OTHER UPDATES:

 

SPORTS

 

1. Coca-Cola extends partnership with ICC till 2031: Beverage major Coca-Cola has extended its partnership with the International Cricket Council (ICC) for eight years, encompassing ICC World events across all three formats, up until the end of 2031. This eight-year partnership as a Global Partner of the ICC confirmed the collaboration as one of the longest-ever associations formed by the ICC with a single brand, spanning a total timeline of 13 years (2019-2031). The partnership will see the Coca-Cola Company’s brands becoming exclusive non-alcoholic beverage partners. The agreement includes all men’s and women’s events at the pinnacle of the sport including the ICC Cricket World Cups, ICC T20 World Cups, and ICC Champions Trophies through to the end of 2031.

 

BANKING AND FINANCE

 

1. Education Loans Experience 20.6% Spike From April To October: Education loans registered a record year-on-year growth of 20.6 percent at ₹1,10,715 crore in the current financial year till October compared with ₹96,853 crore in the year-ago period. According to Reserve Bank of India (RBI) data, the spurt in education loans was the highest in the last five years. The growth registered in the comparable period was 12.3 percent FY23 and (-) 3.1 percent in FY22. For the last one-year, foreign education loans with an average ticket size of ₹40 lakh-60 lakh accounted for nearly 65 percent of loans disbursed.

 

2. IndusInd Bank launches ‘eSvarna’ credit card: IndusInd Bank has launched the ‘IndusInd Bank eSvarna’, India’s first Corporate Credit Card on RuPay network. This launch positions IndusInd Bank as the first in the country to integrate UPI functionality with a Corporate Credit Card. The card facilitates transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps. The IndusInd Bank eSvarna credit card on the RuPay network comes with perks and rewards.

 

3. World Bank Approves $100 Mn For Skill Development In Sikkim: The World Bank’s Board of Executive Directors has approved a new project to support the state of Sikkim’s efforts to train, upskill, and provide jobs for 300,500 women and youth in high-growth and priority sectors. Sikkim has been one of the fastest-growing states in India. While over 40 percent of youth are currently engaged in agriculture, the state has a growing manufacturing and services industry. To sustain growth, the state aims to skill its women and youth in jobs in non-farm sectors like renewable energy, information and technology (IT) services, tourism, hospitality and wellness care, and creative design. The $100 million Sikkim: Integrated Service Provision and Innovation for Reviving Economies (INSPIRES) Operation will establish an Employment and Entrepreneurship Promotion Facility, which will promote partnerships with private-sector firms, central agencies, and business associations.