Daily GK Update- 11th Dec, 2023

NATIONAL UPDATES:

 

1. Home Minister Amit Shah chairs Eastern Zonal Council meeting in Patna: Union Home Minister Amit Shah chaired the 26th Eastern Zonal Meeting in Patna. The Zonal Councils are an important platform to resolve bilateral, multilateral and regional issues through dialogue among member states. During the past nine years, the history of the Eastern Zonal Council has been very successful as more than 1,100 disputes have been resolved on this platform through dialogue.

 

2. Union Minister Piyush Goyal flags off 'One Bharat Sari Walkathon' in Mumbai: Union Minister Piyush Goyal & Poonam Mahajan jointly flagged off 'One Bharat Sari Walkathon' in Mumbai The event organized by the Ministry of Textiles to promote the handloom sari culture in India by inviting the participation of women across the country to showcase their ways of wearing saris and thus present India as a country of “Unity in Diversity It also promotes the spirit of traditional textiles and supports the idea of “Vocal for Local”

 

3. Human Rights Day:10th December: Human Rights Day is observed on December 10th each year. It serves as a day to reflect on the progress made in promoting human rights and to highlight the challenges that persist. The theme for Human Rights Day 2023 is "Freedom, Equality, and Justice for All".

 

4. Ram Nath Kovind launches book “ Naye Bharat ka Samveda” in New Delhi: Former President of India, Ram Nath Kovind launched a book “ Naye Bharat ka Samveda” in New Delhi. The book is a compilation of speeches of Prime Minister Narendra Modi on the Indian Constitution. Ram Nath Kovind added, Prime Minister refers to the Constitution of India as the only book for code of conduct and guidance for the government.

 

5. Wax statue of Babasaheb Ambedkar installed in Jaipur Wax Museum: A wax statue of Constitution architect Baba Saheb Ambedkar was installed in Jaipur Wax Museum, Nahargarh Fort on the occasion of Mahaparinirvan Day. The wax statue has been placed in the set of Rashtrapati Bhavan along with the statue of India’s second great personality, ‘missile man’ and Bharat Ratna Dr APJ Abdul Kalam. The height of the statue is 5 feet 11 inches, while the weight is about 38 kg. After this wax statue of Baba Saheb, a total of 43 celebrities have been installed in the Jaipur Wax Museum. It is noteworthy that Jaipur Wax Museum is the first wax museum in the world which is located in a “heritage site”, Nahargarh Fort. Founder-director of the museum – Anoop Srivastava

 

6. Lalduhoma takes oath as Chief Minister of Mizoram: Veteran politician and Zoram People’s Movement (ZPM) leader Lalduhoma sworn in as the Chief Minister of Mizoram at Raj Bhawan in Aizawl. Governor Dr Hari Babu Kambhampati administered the oath to Mr Lalduhoma. The 74-year-old Lalduhoma joined politics in 1984 when he was elected as Member of Parliament (Lok Sabha) on Congress ticket. He has walked the political corridor for almost 40 years before assuming the Chief Ministership. In this year’s elections, he led the Zoram People’s Movement (ZPM) to a decisive victory bagging as many as 27 seats in the 40-member House. The ruling Mizo National Front (MNF) was reduced to 10 seats while the BJP got 2 seats.

 

INTERNATIONAL UPDATES:

 

1. Thailand, Myanmar to set up task force as border unrest intensifies: Thailand and Myanmar will set up a task force to boost humanitarian assistance to people displaced by fighting between the Junta army and rebel groups. The decision was taken during discussions between Myanmar and Thailand's foreign ministers at a meeting in China. The United Nations estimates say that more than 3 lakh people have been displaced by fighting since the rebel offensive started in late October.

 

2. Indonesia to issue free entry visas to travelers from 20 countries: The Indonesian Ministry of Tourism has proposed issuing free entry visas to travelers from 20 countries including India. The 20 countries include Australia, China, India, South Korea, the United States, the United Kingdom, France, and Germany, among others. Thailand extended visa-free entry to Indians till May 2024.

 

3. UP team to attend World Economic Forum in Davos: A delegation of the UP government will travel to Davos (Switzerland) to attend the World Economic Forum meeting there from January 15 to 19 It will brief delegates about efforts being made to make UP a trillion-dollar economy and develop metropolitan towns as hubs of different sectors that include efforts to develop Lucknow as India’s first AI city The UP government’s investor-friendly policies and efforts made to bring about an improvement in the lives of common people

 

4. Indonesia’s Ibu volcano erupts, ash up to 1,200m: The Ibu volcano on Halmahera Island in the eastern Indonesian province of North Maluku erupted. Local time for about 90 seconds, throwing ash up to 1,200 metre above its peak, according to the country’s Center for Volcanology and Geological Hazard Mitigation (PVMBG). Standing as high as around 1,300 metre above sea level, Ibu volcano is classified in the second danger level, below the highest level of IV. Located on the Pacific Ring of Fire, Indonesia is one of the countries with the most volcanoes in the world.

 

5. 9 December – International Anti-Corruption Day: International Day Against Corruption or International Anti-Corruption Day (IACD) is celebrated every year on December 9. Objective – To raise awareness among the general public on the impact of the prevailing malice in many countries. Theme 2023 – UNCAC at 20: Uniting the World Against Corruption Corruption is such a malpractice that threatens the social and economic development of societies across the world, which is why this day aims to educate people on this crucial issue. As an initial step in combating corruption, the United Nations General Assembly adopted the United Nations Convention against Corruption on October 31, 2003. The authorities also designated the date of December 9 as World Anti-Corruption Day to raise awareness about corruption and the role of the Convention in preventing it. Following the same, the observance of the day was first officially held on 9 December 2005.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army conducts Army Veteran’s Half Marathon, Honour Run in Delhi: The Indian Army conducted the Army Veteran’s Half Marathon, Honour Run in New Delhi to commemorate the historic military victory in the Kargil War. The event was flagged off by Chief of the Army Staff General Manoj Pande. The event was conducted under the theme of Honour Run and was aimed at strengthening the bond between the Indian Army, Veterans and the masses, especially the Youth.

 

2. Gen. Anil Chauhan inaugurated Hindustan Aeronautics Ltd. Avionics Expo: Chief of Defence Staff (CDS), General Anil Chauhan has inaugurated the Hindustan Aeronautics Limited Avionics Expo 2023 in New Delhi. Chauhan said the aviation sector needs to keep up with a rapidly changing world and new technological innovations. He added that military affairs are headed to convergence warfare where different technologies converge to make battles more automated and autonomous. CDS Chauhan also stressed on the need for Aatma-Nirbharta in the aviation sector to reduce import dependency, boost the economy, and better handle geo-political and economic instabilities.

 

SCIENCE AND TECHNOLOGY

 

1. India ranked 7th in this year's climate change performance: According to the report released during the global climate talks COP28, India still remains in the list of countries making the most efforts towards climate change. The Climate Change Index assesses the efforts of 63 countries and the European Union to reduce carbon emissions. In this index, China is at 51st place and America is at 57th place.

 

BANKING AND FINANCE

 

1. Union Bank collaborates with Accenture to boost operational efficiency: Union Bank of India has collaborated with Accenture to design and develop a scalable and secure enterprise data lake platform to boost its operational efficiency. This will also enhance its ability to offer customer-centric banking services and manage risk. Accenture will work with the Bank to build new AI and machine learning models that can help generate actionable insights for improved business forecasting, facilitate personalized offers for customers and enable intelligence for fraud detection, prevention, and mitigation. The program will enable the public sector bank to develop robust data visualization and reporting capabilities including interactive dashboards and reports for business, operational, and regulatory purposes, per the Bank’s statement.

2. SBI Card joins Bharat BillPay in the credit card category: NPCI Bharat BillPay (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has successfully integrated SBI Card, one of India’s leading credit card issuers, into the credit card category of Bharat BillPay. This integration marks a significant advancement, streamlining the credit card bill payment process for millions of customers. Noteworthy credit card issuers already present in this category include Kotak Mahindra Bank, BoB Financial, Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank. SBI Card has an extensive customer base, totaling around 1.68 crores. Through the utilization of Bharat BillPay, SBI Card customers gain the advantage of seamlessly handling their credit card bill payments across various Bharat BillPay-supported payment channels.

 

3. UPI transaction limit for medical, educational services to be hiked to ₹5 lakh: The Reserve Bank of India (RBI) has proposed enhancing the limit of UPI transactions undertaken for medical or healthcare and educational services from ₹1 lakh to ₹5 lakh per transaction. The limit for various categories of UPI transactions has been reviewed from time to time. It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions. This will enable the users who are comfortable with making payments through UPI to continue using the platform for high-value payments as well. The transaction limit would no longer be a bottleneck which refrains the user from using UPI, especially when it comes to payments which are urgent in nature. Currently, the transaction limit for UPI is capped at ₹1 lakh, except in a few categories like capital markets (AMC, broking, mutual funds, etc.), collections (credit card payments, loan re-payments, EMI), Insurance, etc. where the transaction limit is ₹2 lakh

DEFENCE UNICORN INSTITUTE – GANDHINAGAR | AHMEDABAD   BEST COACHING FOR: NDA | CDS | AFCAT | ACC | CAPF | CPO | COAST GUARD | DEFENCE EXAMS | COMPETITIVE EXAMS

Daily GK Update- 10th Dec, 2023

 

NATIONAL UPDATES:

 

1. Home Minister Amit Shah chairs Eastern Zonal Council meeting in Patna: Union Home Minister Amit Shah chaired the 26th Eastern Zonal Meeting in Patna. The Zonal Councils are an important platform to resolve bilateral, multilateral and regional issues through dialogue among member states. During the past nine years, the history of the Eastern Zonal Council has been very successful as more than 1,100 disputes have been resolved on this platform through dialogue.

 

2. Union Minister Piyush Goyal flags off 'One Bharat Sari Walkathon' in Mumbai: Union Minister Piyush Goyal & Poonam Mahajan jointly flagged off 'One Bharat Sari Walkathon' in Mumbai The event organized by the Ministry of Textiles to promote the handloom sari culture in India by inviting the participation of women across the country to showcase their ways of wearing saris and thus present India as a country of “Unity in Diversity It also promotes the spirit of traditional textiles and supports the idea of “Vocal for Local”

 

3. Human Rights Day:10th December: Human Rights Day is observed on December 10th each year. It serves as a day to reflect on the progress made in promoting human rights and to highlight the challenges that persist. The theme for Human Rights Day 2023 is "Freedom, Equality, and Justice for All".

 

4. Ram Nath Kovind launches book “ Naye Bharat ka Samveda” in New Delhi: Former President of India, Ram Nath Kovind launched a book “ Naye Bharat ka Samveda” in New Delhi. The book is a compilation of speeches of Prime Minister Narendra Modi on the Indian Constitution. Ram Nath Kovind added, Prime Minister refers to the Constitution of India as the only book for code of conduct and guidance for the government.

 

5. Wax statue of Babasaheb Ambedkar installed in Jaipur Wax Museum: A wax statue of Constitution architect Baba Saheb Ambedkar was installed in Jaipur Wax Museum, Nahargarh Fort on the occasion of Mahaparinirvan Day. The wax statue has been placed in the set of Rashtrapati Bhavan along with the statue of India’s second great personality, ‘missile man’ and Bharat Ratna Dr APJ Abdul Kalam. The height of the statue is 5 feet 11 inches, while the weight is about 38 kg. After this wax statue of Baba Saheb, a total of 43 celebrities have been installed in the Jaipur Wax Museum. It is noteworthy that Jaipur Wax Museum is the first wax museum in the world which is located in a “heritage site”, Nahargarh Fort. Founder-director of the museum – Anoop Srivastava

 

6. Lalduhoma takes oath as Chief Minister of Mizoram: Veteran politician and Zoram People’s Movement (ZPM) leader Lalduhoma sworn in as the Chief Minister of Mizoram at Raj Bhawan in Aizawl. Governor Dr Hari Babu Kambhampati administered the oath to Mr Lalduhoma. The 74-year-old Lalduhoma joined politics in 1984 when he was elected as Member of Parliament (Lok Sabha) on Congress ticket. He has walked the political corridor for almost 40 years before assuming the Chief Ministership. In this year’s elections, he led the Zoram People’s Movement (ZPM) to a decisive victory bagging as many as 27 seats in the 40-member House. The ruling Mizo National Front (MNF) was reduced to 10 seats while the BJP got 2 seats.

 

INTERNATIONAL UPDATES:

 

1. Thailand, Myanmar to set up task force as border unrest intensifies: Thailand and Myanmar will set up a task force to boost humanitarian assistance to people displaced by fighting between the Junta army and rebel groups. The decision was taken during discussions between Myanmar and Thailand's foreign ministers at a meeting in China. The United Nations estimates say that more than 3 lakh people have been displaced by fighting since the rebel offensive started in late October.

 

2. Indonesia to issue free entry visas to travelers from 20 countries: The Indonesian Ministry of Tourism has proposed issuing free entry visas to travelers from 20 countries including India. The 20 countries include Australia, China, India, South Korea, the United States, the United Kingdom, France, and Germany, among others. Thailand extended visa-free entry to Indians till May 2024.

 

3. UP team to attend World Economic Forum in Davos: A delegation of the UP government will travel to Davos (Switzerland) to attend the World Economic Forum meeting there from January 15 to 19 It will brief delegates about efforts being made to make UP a trillion-dollar economy and develop metropolitan towns as hubs of different sectors that include efforts to develop Lucknow as India’s first AI city The UP government’s investor-friendly policies and efforts made to bring about an improvement in the lives of common people

 

4. Indonesia’s Ibu volcano erupts, ash up to 1,200m: The Ibu volcano on Halmahera Island in the eastern Indonesian province of North Maluku erupted. Local time for about 90 seconds, throwing ash up to 1,200 metre above its peak, according to the country’s Center for Volcanology and Geological Hazard Mitigation (PVMBG). Standing as high as around 1,300 metre above sea level, Ibu volcano is classified in the second danger level, below the highest level of IV. Located on the Pacific Ring of Fire, Indonesia is one of the countries with the most volcanoes in the world.

 

5. 9 December – International Anti-Corruption Day: International Day Against Corruption or International Anti-Corruption Day (IACD) is celebrated every year on December 9. Objective – To raise awareness among the general public on the impact of the prevailing malice in many countries. Theme 2023 – UNCAC at 20: Uniting the World Against Corruption Corruption is such a malpractice that threatens the social and economic development of societies across the world, which is why this day aims to educate people on this crucial issue. As an initial step in combating corruption, the United Nations General Assembly adopted the United Nations Convention against Corruption on October 31, 2003. The authorities also designated the date of December 9 as World Anti-Corruption Day to raise awareness about corruption and the role of the Convention in preventing it. Following the same, the observance of the day was first officially held on 9 December 2005.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army conducts Army Veteran’s Half Marathon, Honour Run in Delhi: The Indian Army conducted the Army Veteran’s Half Marathon, Honour Run in New Delhi to commemorate the historic military victory in the Kargil War. The event was flagged off by Chief of the Army Staff General Manoj Pande. The event was conducted under the theme of Honour Run and was aimed at strengthening the bond between the Indian Army, Veterans and the masses, especially the Youth.

 

2. Gen. Anil Chauhan inaugurated Hindustan Aeronautics Ltd. Avionics Expo: Chief of Defence Staff (CDS), General Anil Chauhan has inaugurated the Hindustan Aeronautics Limited Avionics Expo 2023 in New Delhi. Chauhan said the aviation sector needs to keep up with a rapidly changing world and new technological innovations. He added that military affairs are headed to convergence warfare where different technologies converge to make battles more automated and autonomous. CDS Chauhan also stressed on the need for Aatma-Nirbharta in the aviation sector to reduce import dependency, boost the economy, and better handle geo-political and economic instabilities.

 

SCIENCE AND TECHNOLOGY

 

1. India ranked 7th in this year's climate change performance: According to the report released during the global climate talks COP28, India still remains in the list of countries making the most efforts towards climate change. The Climate Change Index assesses the efforts of 63 countries and the European Union to reduce carbon emissions. In this index, China is at 51st place and America is at 57th place.

 

BANKING AND FINANCE

 

1. Union Bank collaborates with Accenture to boost operational efficiency: Union Bank of India has collaborated with Accenture to design and develop a scalable and secure enterprise data lake platform to boost its operational efficiency. This will also enhance its ability to offer customer-centric banking services and manage risk. Accenture will work with the Bank to build new AI and machine learning models that can help generate actionable insights for improved business forecasting, facilitate personalized offers for customers and enable intelligence for fraud detection, prevention, and mitigation. The program will enable the public sector bank to develop robust data visualization and reporting capabilities including interactive dashboards and reports for business, operational, and regulatory purposes, per the Bank’s statement.

2. SBI Card joins Bharat BillPay in the credit card category: NPCI Bharat BillPay (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has successfully integrated SBI Card, one of India’s leading credit card issuers, into the credit card category of Bharat BillPay. This integration marks a significant advancement, streamlining the credit card bill payment process for millions of customers. Noteworthy credit card issuers already present in this category include Kotak Mahindra Bank, BoB Financial, Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank. SBI Card has an extensive customer base, totaling around 1.68 crores. Through the utilization of Bharat BillPay, SBI Card customers gain the advantage of seamlessly handling their credit card bill payments across various Bharat BillPay-supported payment channels.

 

3. UPI transaction limit for medical, educational services to be hiked to ₹5 lakh: The Reserve Bank of India (RBI) has proposed enhancing the limit of UPI transactions undertaken for medical or healthcare and educational services from ₹1 lakh to ₹5 lakh per transaction. The limit for various categories of UPI transactions has been reviewed from time to time. It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions. This will enable the users who are comfortable with making payments through UPI to continue using the platform for high-value payments as well. The transaction limit would no longer be a bottleneck which refrains the user from using UPI, especially when it comes to payments which are urgent in nature. Currently, the transaction limit for UPI is capped at ₹1 lakh, except in a few categories like capital markets (AMC, broking, mutual funds, etc.), collections (credit card payments, loan re-payments, EMI), Insurance, etc. where the transaction limit is ₹2 lakh

Daily GK Update- 9th Dec, 2023

NATIONAL UPDATES:

 

1. Ministry of Culture launched Mera Gaon Meri Dharohar Project: The Government of India has decided to map and document all villages under Mera Gaon, Meri Dharohar (MGMD) Programme. This National Mission on Cultural Mapping is conducted in coordination with Indira Gandhi National Centre for the Arts (IGNCA) under the Ministry of Culture. Under the MGMD, information is collected under seven broad categories.

 

2. India to have 4,500 Vande Bharat trains by 2047: As per union minister Scindia, 23 Vande Bharat trains are running in the country and the mission is to run 4,500 Vande Bharat trains by 2047. Jyotiraditya Scindia announced that the Indian Railway system is growing the fastest in the world. Railway budget in 2013-14 was 29 thousand crore rupees and now it is 2 lakh 40 thousand crore rupees.

 

INTERNATIONAL UPDATES:

 

1. India Climbs to 7th Place in Global Climate Performance Index: India has ascended to the 7th position in this year's Climate Change Performance Index (CCPI), showcasing a commendable improvement from its previous ranking. The announcement came during the global COP-28 held in Dubai, where India reaffirmed its status among the top performers for the fifth consecutive year. The Climate Change Performance Index (CCPI) tracks countries’ efforts to combat climate change.

 

2. Dubai Inaugurates World's Largest Concentrated Solar Power Project: PM Of UAE Sheikh Mohammed bin Rashid Al Maktoum inaugurated the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, marking the launch of the world's largest concentrated solar power project. The 950 MW phase, constructed at an investment of AED15.78 billion, utilizes three hybrid technologies: 600MW from a parabolic basin complex, 100MW from a CSP tower. The project features the tallest solar tower in the world, at 263.126 metres.

 

3. India to Extend $250 Million Line of Credit to Kenya: India has committed a $250 million Line of Credit to Kenya for the modernization of its agricultural sector. The announcement came following talks between Indian Prime Minister Narendra Modi and Kenyan President William Samoei Ruto. Modi and Ruto discussed and agreed to strengthen bilateral ties in various sectors, including defence, trade, energy, digital public infrastructure, and healthcare.

 

4. World Radiocommunication Conference 2023 appoints UAE’s Mohammed Al Ramsi as Chairman: United Arab Emirates’ Mohammed Al Ramsi has been appointed Chairman of the World Radiocommunication Conference 2023 (WRC 23). The event is being held in Dubai, UAE, from November 20th to December 15th, 2023. WRC is organized by the International Telecommunication Union (ITU) every four years to revise the global use of radio-frequency spectrum, geostationary-satellite, and non-geostationary-satellite orbits. This year, more than 4,000 government officials and 900 international organizations from 193 countries are attending the conference.

 

OTHER UPDATES:

DEFENCE

 

1. Defense Ministry partners with ISB to offer scholarships for ex-servicemen: The Defense Ministry has collaborated with the prestigious Indian School of Business (ISB). The initiative focuses on providing scholarships to military personnel transitioning to civilian life after retirement. The Department of Ex-Servicemen Welfare has forged a partnership with ISB to facilitate educational opportunities for veterans. The collaboration intends to equip armed forces personnel with the latest and in-depth management skills, leveraging the substantial skillset they already possess. As part of this collaboration, ISB will extend a 50 percent tuition fee waiver across its postgraduate and advanced management programmes, amounting to a total of Rs 2.3 crore annually. This generous scholarship initiative is expected to benefit 22 ex-servicemen each academic year, fostering their academic pursuits and aiding their transition to civilian roles.

 

SPORTS

 

1. ICC launches new vibrant logo for Men’s and Women’s T20 World Cup 2024: International Cricket Council (ICC) has unveiled the logo for the upcoming T20 World Cup in Men’s and Women’s cricket next year. While the men’s event is set to take place from June 4 to June 30, 2024 in the West Indies and USA. While, Women’s T20 World Cup will happen in Bangladesh. The new logo, according to ICC, captures the inherent drama the shortest forma brings with it. It also showcases the relentless energy in T20 cricket even as the new brand identity incorporates textures and patterns inspired by host country.

 

BANKING AND FINANCE

 

1. PM Modi inaugurates first Indian Art & Design Biennale at Red Fort: Prime Minister Narendra Modi inaugurated the first Indian Art, Architecture and Design Biennale (IAADB) at Red Fort in New Delhi. He unveiled seven research publications on the occasion. The Prime Minister also inaugurated Aatmanirbhar Bharat Centre for Design. IAADB is being organized in line with the PM's vision to develop a flagship global cultural initiative in the country.

 

2. UPI limit for healthcare & education payments hiked to 5 lakh: The RBI announced an increase in the UPI transaction limit for hospitals and education services to Rs 5 lakh. The limit for recurring digital payments without second-factor authentication was enhanced to Rs 1 lakh for mutual fund subscription, insurance premium, and card bills. The RBI also plans to create a repository for fintechs to store important information. The Reserve Bank Innovation Hub aims to make the repository operational by April 2024.

 

3. IDFC FIRST Bank launches “FIRST SWYP” credit card: IDFC FIRST Bank has introduced youth-centric “FIRST SWYP” credit card in partnership with Mastercard. This card can be used as a no-interest charge card and has curated features -- flexible bill repayments through EMIs, a benefit-laden referral program, and exclusive and relevant merchant partnerships. The card will address demands of new-age customers, blending benefits across their favorite categories of spends and lifestyle-related  offers.

 

AWARDS AND HONOURS

 

1. TIME ranks Sam Altman as CEO of the Year: Sam Altman was named CEO of the Year 2023 by TIME magazine. Sam Altman marked ‘10-out-of-10 crazy thing to live through’ when he had to spend a rather strange Thanksgiving- losing a company he co-founded, only to be reinstated after five frantic days. Sam Altman co-founded OpenAI developed ChatGPT, a revolutionary tool, launched in November 2022. ChatGPT became one of the most rapidly adopted technology ever.

TIME eulogized American singer Taylor Swift being made Person of the Year as, the editors pointed out, since 1927, the ‘person chosen has typically been a ruler over traditional domains of power. He—and yes, usually it has been a “he”—is very often a politician or a titan of industry. Fourteen US Presidents, five leaders of Russia or the Soviet Union, and three Popes have all been recognized. Athlete of the Year – Lionel Messi

DE

Daily GK Update- 8th Dec, 2023

 

NATIONAL UPDATES:

 

1. Lalduhoma takes oath as Chief Minister of Mizoram: Veteran politician and Zoram People's Movement (ZPM) leader Lalduhoma sworn-in as the Chief Minister of  Mizoram at Raj Bhawan in Aizawl. Governor Dr Hari Babu Kambhampati administered the oath to Mr Lalduhoma. Former IPS officer Lalduhoma led his party to a decisive victory in the recently concluded Assembly elections. The party bagged 27 seats in the 40-member House. The ruling Mizo National Front (MNF) was reduced to 10 seats while the BJP got 2 seats.

 

2. PM Modi to inaugurate Uttarakhand Global Investors Summit in Dehradun: Prime Minister Narendra Modi will inaugurate the ‘Uttarakhand Global Investors Summit 2023’ at Forest Research Institute, Dehradun. The two-day summit is being organized on the theme of “Peace to Prosperity”. ‘Uttarakhand Global Investors Summit 2023’ is a step towards establishing Uttarakhand as a new investment destination. The summit will be attended by thousands of investors and delegates from across the world.

 

3. RBI keeps policy repo rate unchanged at 6.5 percent: The Reserve Bank of India (RBI) has kept the policy repo rate unchanged at 6.5 percent in its latest monetary review meeting. This is for the fifth time in a row that the MPC has maintained the status quo. The Governor said, real GDP growth for the current year 2023-24 is projected at 7% - with Quarter 3 at 6.5% and Quarter 4 at 6%. Real GDP growth for Quarter one of 2024-25 is projected at 6.7% for Quarter 2 at 6.5% and for Quarter 3 at 6.4%.

 

4. Max Life Insurance appoints Rajiv Anand as chairman: Max Life Insurance Board of Directors has appointed Rajiv Anand as the new chairman of Max Life Insurance. He has been associated with the Company as a Non-Executive Director since April 6, 2021. Earlier, Mr. Rajiv was the deputy managing director at Axis Bank. Rajiv has joined Max Life Insurance with more than 30 years of experience. Govt. extends restrictions on onion exports to March 31: India has extended restrictions on the export of onions until March 31, 2024. The restriction, which stipulates a minimum export price of $800 per metric ton, was earlier valid until Dec. 31, 2023. This measure aims to boost the availability of onions in the domestic market and control their prices.

 

INTERNATIONAL UPDATES:

 

1. UNICEF to unveil 'Green Rising' initiative at COP28: UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and Climate Change will unveil the "Green Rising" initiative at COP28 in Dubai. The global "Green Rising" initiative and the "Green Rising India Alliance" marks a collaborative effort involving UNICEF, Generation Unlimited, and a diverse network of public, private, and youth partners.

 

2. Ajit Doval participates in 6th NSA-level Meeting of Colombo Security Concla: National Security Advisor Ajit Doval participated in the 6th NSA-level Meeting of the Colombo Security Conclave in Port Louis, Mauritius. The 6th NSA-level Meeting of the Colombo Security Conclave was hosted by Mauritius. The NSA of Member Countries participated along with senior delegates from Bangladesh and Seychelles. Member States reviewed the progress of the decisions taken at the 5th NSA-level Meeting and agreed on a Roadmap of Activities for 2024.

 

3. Nirmala Sitharaman & 3 other Indians among Forbes list of ‘World’s 100 Most Powerful Women’ of 2023: Union Finance Minister Nirmala Sitharaman, HCL Corporation Chairperson Roshni Nadar Malhotra, Steel Authority of India Chairperson Soma Mondal and Biocon Executive Chairperson Kiran Mazumdar-Shaw are the four Indians among the 100 named in Forbes’ annual list of ‘The World’s Most Powerful Women of 2023. Sitharaman has made it to the list for the fifth year in a row, ranking at number 32. This is the 64-year-old BJP leader’s best ranking so far — in 2022, she had ranked at 36, while she was 37 in 2021, 41 in 2020 and 34 in 2019. While Malhotra was ranked 60th, Mondal took the 70th spot and Mazumdar-Shaw the 76th. They had made it to the prestigious list last year also at 53rd, 67th and 72nd spots respectively.

 

OTHER UPDATES:

 

SPORTS

 

1. ICC unveils vibrant logo for men's and women's T20 World: The International Cricket Council (ICC) unveiled a vibrant makeover of the ICC T20 World Cup’s new brand identity. The logo seamlessly transforms the ‘T20’ text into a battling stance enclosed within a kinetic sphere, embodying the drama of each delivery. The transformation aims to encapsulate the inherent drama, fast-paced action and high-octane moments that define T20 cricket – a format celebrated for its relentless energy.

 

2. China’s Ningbo to host World Weightlifting Championships 2026: The Chinese city of Ningbo will host the 2026 World Weightlifting championships, following the 2024 edition in Manama (Bahrain) and the 2025 edition in Forde (Norway). The International Weightlifting Federation announced in a statement after a vote by the IWF Executive Board, meeting in Doha, Qatar, that Ningbo has experience in successfully staging international sports events. Ningbo, located in China’s eastern coastal province of Zhejiang, is not far from the cities of Shanghai and Hangzhou. The venue of the championship will be the Ningbo Olympic Sports Centre, which was built in 2019 with a 10,000-seat capacity, reports Xinhua.

 

 

 

 

SCIENCE AND TECHNOLOGY

 

1. Meta and IBM launched ‘AI Alliance’ to promote open-source AI development: Facebook’s parent company, Meta, and IBM have launched a new group called the AI Alliance advocating for an “open-science” approach to AI development that puts them at odds with rivals Google, Microsoft and ChatGPT-maker OpenAI. These two diverging camps – the open and the closed – disagree about whether to build AI in a way that makes the underlying technology widely accessible. The AI Alliance – led by IBM and Meta and including Dell, Sony, the chipmakers AMD and Intel and several universities and AI startups – is “coming together to articulate, simply put, that the future of AI is going to be built fundamentally on top of the open scientific exchange of ideas and on open innovation, including open source and open technologies”, Gil said in an interview with the Associated Press before its unveiling.

 

BANKING AND FINANCE

 

1. RBI has canceled the license of Sitapur-based Urban Co-operative Bank: The Reserve Bank of India (RBI) has canceled the license of Sitapur-based Urban Co-operative Bank in Uttar Pradesh. The bank's license was canceled due to lack of adequate capital and prospects of earning. The RBI has prohibited the bank from any banking, including depositing money and repaying its customers. As per the data submitted by the bank, 98.32 per cent of the depositors are entitled to receive full amount of their deposits from DICGC.

 

2. SBI to acquire 20 percent stake in SBI Pension Funds for Rs 230 crore: The Executive Committee of the Central Board (ECCB) of the State Bank of India (SBI) has accorded final approval to the Bank for acquiring 20 percent stake held by SBICAPS (SBI Capital Markets Ltd) in SBIPFPL (SBI Pension Funds Private Ltd). The acquisition, which will be completed by December 15, 2023, is for a cash consideration of ₹229.52 crore, as per SBI’s regulatory filing. SBICAPS is a wholly-owned subsidiary of SBI. Post-acquisition, SBI will have 80 percent stake in SBIPFPL, with the balance being held by SBI Funds Management Ltd. The latter is a joint venture of SBI (62.53 percent) and Amundi (36.73 percent).

 

3. Federal Bank Named “Bank of the Year (India)” by Financial Times: Federal Bank, a leading financial institution, has been recognized as “Bank of the Year (India)” by Financial Times owned The Banker, one of the only three global awards that considers the work of banks spanning 120 countries. This prestigious recognition is a testament to the Bank’s unwavering commitment to innovation, customer-centric services, and its outstanding contributions to the banking industry over the past year. One of the standout initiatives that garnered attention was the introduction of the Digital Personal Loan by Federal Bank. This innovative product allows customers to seamlessly apply for and receive loans entirely online.

 

 

 

AWARDS AND HONOURS

 

1. CII Sports Business Awards 2023 to KIIT India: Kalinga Institute of Industrial Technology (KIIT) bagged the Best Sports Facility award in the first edition of the CII Sports Business Awards 2023.

Dr. Achyuta Samanta (KIIT and KISS founder) received the award from Chanakya Chaudhry, chairman of the CII National Committee on Sports. Jay Shah and Nita Ambani and Samanta were recognised as the best Sports Business Leaders.

 

2. Indian-Origin Novelist Meira Chand Receives Singapore’s Highest Arts Award: 81-year-old Indian-origin writer Meira Chand was among the three Singaporeans conferred the Cultural Medallion, the city-state’s most prestigious arts accolade, in recognition of their artistic excellence and contribution to enriching the country’s arts and culture scene. Meira Chand, fellow novelist Suchen Christine Lim and Malay dance veteran Osman Abdul Hamid received the award from President Tharman Shanmugaratnam at a ceremony held at the Istana. The award comes with an SGD 80,000 (approximately Rs 49 lakh) grant for each recipient to support their artistic pursuits. A Singaporean of Swiss-Indian parentage, Meira Chand, along with Lim, is the first English-language female writer to be conferred the award since Ho Minfong in 1997.

 

3. Inter Miami’s Lionel Messi named Time Athlete of the Year for 2023: Lionel Messi, the captain of Argentina, has been named Time magazine’s Athlete of the Year for 2023. Messi won the Ballon d’Or for a record-breaking eighth time and, by moving to Inter Miami, raised awareness of the sport in the US. Messi joins the likes of Simone Biles, Michael Phelps, LeBron James, and the United States women’s national team to win the award. New York Yankees right fielder Aaron Judge won the award in 2022.