Current Affairs Quiz 11th December 2024 Quiz

Exp. HSL shines at 3rd PSU Transformation Awards 2024

Hindustan Shipyard Limited (HSL) has been honoured with two prestigious awards at the ‘3rd PSU Transformation Awards 2024’ ceremony, held at Shangri-La, New Delhi.

The awards spotlight HSL’s commitment to innovation and excellence in the shipbuilding industry.  HSL received recognition in two key categories:

1. Innovative Product Development Award for its pioneering fender arrangement in Tugs for Submarines. This accolade was accepted by Sarath Chandra, Senior Manager (Design).
2. Technology Adoption Award for implementing an innovative method of installing Retractable Thrusters in Diving Support Vessels. Tirupat Naik, Senior Manager (Engineering), received the award on behalf of HSL

The PSU Transformation Awards celebrate the outstanding contributions of Public Sector Undertakings (PSUs) in driving growth, innovation, and efficiency. HSL’s dual recognition at this prestigious platform underscores its pivotal role in advancing the nation’s maritime capabilities.

Exp. John Dramani Mahama wins Ghana presidential election

National Democratic Congress (NDC) presidential candidate and former Ghanaian President John Dramani Mahama who is returning as Ghana’s president eight years after losing power, achieved his political comeback on a promise to mend the West African country’s economy.

The eldest son of a wealthy rice trader turned politician, Mahama became Ghana’s interim leader in 2012 after the sudden death of President John Atta Mills, under whom Mahama served as vice president.

He was first elected to parliament in 1996 and served as communications minister from 1998 to 2001. Atta Mills appointed him vice president in 2009.

Newly Appointed Prime Minister & President

• PM of Burkina Faso – Rimtalba Jean Emmanuel Ouedraogo
• President of Namibia – Nandi-Ndaitwah (country’s first female President)
• President of Uruguay – Yamandu Orsi (replace Luis Lacalle Pou)
• PM of Haiti – Alix Didier Fils-Aime
• PM of Japan – Shigeru Ishiba
• President of USA – Donald Trump (47th)

Exp. Canara Bank launched Nationwide Credit Outreach Program to Empower MSMEs

Canara Bank has launched a two-day nationwide Credit Outreach program to support the growth of Micro, Small, and Medium Enterprises (MSMEs) across 238 MSME clusters in key industrial and business regions.

The initiative provided entrepreneurs with tailored financial solutions, advisory services, and access to government-sponsored schemes to enhance their business growth.

 The program was led by Canara Bank’s top management, including MD and CEO Shri. K. Satyanarayana Raju, and Executive Directors Shri. Debashish Mukherjee, Shri. Ashok Chandra, Shri. Hardeep Singh Ahluwalia, and Shri. Bhavendra Kumar.

In addition to showcasing tailored MSME products, the event featured interactive sessions where the management addressed challenges faced by entrepreneurs and explored innovative solutions. The outreach initiative garnered an overwhelming response, resulting in on-the-spot loan approvals and leads amounting to more than Rs. 6,200 crore.

Exp. Varthana Secures $15 Million Funding to Revolutionise Affordable Education in India

Varthana has successfully secured $15 million (₹120 crores) from the BlueOrchard Microfinance Fund, managed by global impact investor BlueOrchard, through the External Commercial Borrowings (ECB) framework.

The funds will support Varthana’s mission to enhance affordable private education in India, particularly for underserved communities.

The funding will be used to expand Varthana’s lending portfolio, focusing on affordable private schools and vocational students in Tier 2 and Tier 3 cities, with a focus on infrastructure upgrades and skill-based learning initiatives.

Varthana has already made a significant impact by financing over 11,000 affordable private schools and facilitating more than 16,500 loans for school expansion and renovation.

Exp. 9 December – International Day of Commemoration and Dignity of the Victims of the Crime of Genocide

International Day of Commemoration and Dignity of the Victims of the Crime of Genocide is observed annually on 9 December.

This day honours the memory of the victims of genocide and raises awareness about the crime, emphasizing the importance of preventing future atrocities.

On this day in 1948, the Convention on the Prevention and Punishment of the Crime of Genocide was adopted by the United Nations General Assembly. This historic treaty defined genocide as an international crime and set the groundwork for the international community’s commitment to prevent and punish acts of genocide.

Exp. Krishnaveni Sangeetha Neerajanam 2024 concluded in Vijayawada

The three-day Krishnaveni Sangeetha Neerajanam 2024 successfully concluded at the Tummalapallivari Kshetrayya Kalakshetram Auditorium in Vijayawada, Andhra Pradesh.

The festival was organised to pay rich tribute to Telugu culture and Carnatic music and provide a platform for lesser-known artists to perform.

The three-day Krishnaveni Sangeetha Neerajanam was organised by the Union Ministry of Tourism in partnership with the Union Ministry of Culture, the Union Ministry of Textile, and the government of Andhra Pradesh.

The cultural and musical festival was held at three places in Andhra Pradesh. It was held at Durga Ghat on the banks of the Krishna River, Shree Durga Malleswari Swami Vaarla Temple, and Tummalapallivari Kshetrayya Kalakshetram Auditorium in Vijayawada.

About the Krishnaveni Sangeetha Neerajanam

The Krishnaveni Sangeetha Neerajanam festival was a part of the Union Ministry Tourism initiative to promote Music Tourism by highlighting lesser-known yet culturally significant destinations through such festivals.

The events were hosted in lesser-known tourist sites of Andhra Pradesh, which are rich in spirituality and heritage, such as Srikakulam, Ahobilam, Mangalagiri, Rajahmundry, and Tirupati.

The festival attempted to encourage people to visit these sites, boosting local tourism and employment in these areas.

Exp. Abathsahayeswarar Temple & BJPCI Project bag UNESCO Heritage Award

The 1,300-year-old Abathsahayeshwarar Temple in Thukkatchi, Thanjavur district, has been awarded the UNESCO Award of Distinction 2023 for its heritage conservation.

The temple, built by Kings Vikrama Chola and Kulothunga Chola, was originally designed with five prakarams (enclosures).

The temple houses numerous shrines, including Soundaryanayaki Ambal, Ashtabhuja Durga Parameshwari, Aadhi Sarabeshwarar, Pillayar, Murugan, and more.

The village was historically known as Vikrama Chozheeswaram and Kulothunga Chola Nallur, and it was Kulothunga who established the idol for Sarabeshwarar.

UNESCO’s Award of Distinction was part of the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation.

The UNESCO Award has five categories, with the highest being the Award of Excellence. The other award categories are the Award of Distinction, the Award for New Design in Heritage Context, the Award of Merit, and Special Recognition for Sustainable Development.

List of the eight winners of the 2024 UNESCO Award

Awards of Excellence

• Inari-yu Bathhouse Restoration Project in Tokyo, Japan

Award of Distinction

• Abathsahayeswarar Temple Conservation Project, in Thukkatchi, Tamil Nadu
• Gunan Street Historic Block Conservation Project, in Yixing, Jiangsu Province, China.

Award of Merit

• BJPCI Conservation Project, of Mumbai, India;
• Guanyin Hall Teahouse Conservation Project, Chengdu in Sichuan Province of China;
• Helou Pavilion Conservation Project, of Shanghai, China;
• Observatory Tower Conservation Project, of Christchurch, New Zealand.

Special Recognition for Sustainable Development

• Gunan Street Historic Block Conservation Project
• Helou Pavilion Conservation Project, of Shanghai, China;

Award for New Design in Heritage Contexts

• Rabindhorn Building, Bangkok, Thailand

Exp. Sathish Karunakaran win Guwahati Masters 2024 badminton Singles title

Indian badminton player Sathish Karunakaran has won the BWF Super 100 Guwahati Masters 2024 badminton singles titles.

In the doubles, the defending champion Ashwini Ponnappa and Tanisha Crasto successfully defended their title by beating the Chinese pair in the final.

The $100,000 lakh prize money BWF Super 100 Guwahati Masters 2024 was held in Guwahati, Assam. It was the second BWF Super 100 Guwahati Masters after the inaugural edition of 2023.

The  BWF Super 100 Guwahati Masters 2024 was organised jointly by the Badminton Association of India and the Assam Badminton Association.

Super 100 Guwahati Masters 2024 Badminton Title Winners

Exp. Bangladesh defends its ACC U19 Men’s Asia Cup Title at Dubai

Bangladesh defeated India by 59 runs in the 11th ACC U19 Men’s Asia Cup Final in Dubai, United Arab Emirates, to successfully defend its title.

Bangladesh, which won the previous edition in 2023, clinched its second consecutive U19 Men’s Asia Cup title. The ACC U19 Men’s Asia Cup is for male cricketers below 19.

Player of the Final match: Iqbal Hossain Emon (Bangladesh)

Player of the Tournament: Iqbal Hossain Emon (Bangladesh)

About 11th ACC U19 Men’s Asia Cup

• The 11th ACC U19 Men’s Asia Cup was organised by the Asian Cricket Council (ACC) and hosted by the Emirates Cricket Board of the United Arab Emirates (UAE) in Sharjah and Dubai.
• Eight teams from Asia participated in the Tournament and were divided into two groups.
• Group A: India, Pakistan, Japan and the host UAE and Group B: Sri Lanka, Pakistan, Nepal and Afghanistan.
• India and Pakistan qualified for the semi-finals from Group A, and Sri Lanka and Bangladesh made it to the semi-finals from Group B.
• In the semi-final, India defeated Sri Lanka, and Bangladesh defeated Pakistan.

Exp. Payal Kapadia makes history with Golden Globes 2025 Nomination for Best Director and Best Non-English Motion Picture

Payal Kapadia’s film All We Imagine As Light made history as the first Indian film nominated for Best Director (Motion Picture) at the 82nd Golden Globes 2025.

The film also received a nomination for Best Motion Picture in a Non-English Language, earning acclaim worldwide.

Actors Morris Chestnut and Mindy Kaling announced the Golden Globe nominations, with Kapadia joining notable directors like Jacques Audiard and Sean Baker in the Best Director category.

 Kapadia gained international fame with her 2021 documentary A Night of Knowing Nothing, which won the Best Documentary Award at the Cannes Film Festival.

As a student at FTII, Kapadia led protests against administrative controversies and later excelled as a filmmaker, with her short film Afternoon Clouds featured at the 2017 Cannes Film Festival.

Explanation:

• Statement (a) is correct as Sanjay Malhotra is set to assume office as the RBI Governor on 11 December 2024.
• Statement (b) is incorrect because while the maximum term of the Governor or Deputy Governor is five years, they are eligible for reappointment.
• Statement (c) is correct as the RBI Act, 1934 provides the framework for appointing the Governor and Deputy Governors.

Exp. Sanjay Malhotra appointed as new RBI Governor

Sanjay Malhotra, the Revenue Secretary of the Finance Ministry, has been appointed the 26th Governor of the Reserve Bank of India (RBI).

He will assume office on 11 December 2024 after the incumbent Governor, Shaktikanta Das, retires on 10 December 2024.

Sanjay Malhotra has been appointed for three years, starting 11 December 2024. The central government can dismiss him before the completion of his tenure, or he can resign from his office.

Under section 8 of the Reserve Bank of India Act 1934, the Central government appoints the Governor and four Deputy Governors of the RBI.

According to the RBI Act 1934, the Governor or the Deputy Governor can be appointed for a maximum term of five years and is eligible for reappointment. It means that one term of the Governor or the Deputy Governor can be up to 5 years.

Normally, the government appoints a Governor and Deputy Governor for three years, and if necessary, it reappoints them for another fresh term, as Shaktikanta Das was reappointed in 2021.

About Sanjay Malhotra

• Sanjay Malhotra is an IAS officer of the 1990 batch of the Rajasthan Cadre who assumed the office of revenue secretary on December 1, 2022.
• He is an IITian and holds a degree in Computer Science Engineering from the Indian Institute of Technology (IIT), Kanpur. He also holds a Master’s in Public Policy from Princeton University, United States of America.

About RBI Governor

• Reserve Bank of India was established on 1 April 1935 under the provision of the Reserve Bank of India Act 1934.
• Initially, its headquarters or central office was in Calcutta (now Kolkata), but it was shifted to Bombay(now Mumbai) in 1937.
• First Governor – Sir Osborne Smith (01-04-1935 to 30-06-1937)
• First Indian Governor- Chintaman Dwarkanath Deshmukh (11-08-1943 to 30-06-1949) Longest tenure
• Shortest Tenure -K. G. Ambegaokar 14-01-1957 to 28-02-1957

About Reserve Bank of India (RBI)

• Founded – 1 April 1935
• RBI Nationalized – 1 January 1949
• Headquarters – Mumbai, Maharashtra
• RBI set up – Hilton Young Commission
• 1st Governor – Sir Osborne Smith (Australia)
• 1st Indian Governor – CD Deshmukh
• 26th Governor – Sanjay Malhotra (replace Shaktikanta Das)
• RBI Deputy Governor (4) – 1. Tavarna Rabi Sankar

2. J Swaminathan
3. Michael D Patra
4. M Rajeshwar Rao

• Five Subsidiaries of RBI
  1. Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
  2. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
  3. Reserve Bank Information Technology Private Limited (ReBIT)
  4. Indian Financial Technology and Allied Services (IFTAS)
  5. Reserve Bank Innovation Hub
• Four currencies note printing presses

1. Nashik in Maharashtra owned by govt of India
2. Dewas in Madhya Pradesh owned by govt of India
3. Mysuru in Karnataka owned by RBI
4. Salboni in West Bengal owned by RBI

• Four mints owned by the Government of India

Mumbai, Hyderabad, Calcutta and Noida

Exp. Stealth frigate INS Tushil commissioned into the Indian Navy in Russia

The Russian-built multi-role stealth-guided missile frigate INS Tushil was commissioned into the Indian Navy at the Yantar Shipyard in Kaliningrad, Russia.

The flag-raising ceremony was held in the presence of Defence Minister Rajnath Singh, Chief of the Naval Staff Admiral Dinesh K Tripathi, Russian Deputy Minister of Defence Alexander Vasilyevich Fomin, Ambassador of India to Russia Vinay Kumar, and other senior officials from both countries.

About INS Tushil and Project 1135.6 class

• INS Tushil is the seventh ship of the Project 1135.6 frigate to be built for the Indian Navy by Russia.
• The first three (Talwar, Trishul, Tabar) frigates of the project were built by the “Baltiysky Zawod” shipyard in St. Petersburg, Russia and delivered to the Indian Navy. The next three (Teg, Tarkash, Trikand) were constructed by “Yantar Shipyard” in Kaliningrad.
• In 2016, India signed an agreement with Russia to buy four more frigates of the Admiral Grigorovich class (NATO calls them Krivak III).
• Two were to be built in Russia (Tushil and Tamal), and two were to be built by Goa Shipyard in India.
• The first ship manufactured by Goa Shipyard, ‘Triput’was launched in waters on 24 July 2024

Exp. 10 December – World Human Rights Day

World Human Rights Day is observed annually on December 10.

Human rights play a vital role as a preventative, protective and transformative force for good. This day also empowers people and communities across the world to build a better future.

Theme 2024 – Our Rights, Our Future

World Human Rights Day was established in 1948 when the United Nations General Assembly adopted the Universal Declaration of Human Rights (UDHR). It is the first global enunciation of human rights.  

Exp. Deutsche Bank AG, India, provides € 91 million sustainability-linked-loan to SMFG India Credit

Deutsche Bank AG, India, has provided a €91 million (about ₹814 crore) sustainability-linked loan to SMFG India Credit (SMICC). The loan was facilitated via the Bank’s Gift City Branch.

SMICC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG). It has over 1,000 branches and had Assets Under Management (AUM) of ₹49,800 crore as of September 2024.

The senior secured loan, which carries a tenor of three years, is compliant with Deutsche Bank’s Sustainable Finance framework criteria.

The loan will not only help expand SMICC’s portfolio and enable channelling funds toward MSMEs but also empower women entrepreneurs in underserved segments across India, Deutsche Bank said in a statement.

Exp. Flipkart, DPIIT sign MoU to accelerate growth of startup ecosystem

Flipkart, India’s homegrown e-commerce platform, has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to support and empower tech start-ups in India.

Aimed at encouraging the growth of innovators and entrepreneurs, the partnership would build on existing efforts under the Flipkart Leap and Ventures initiative with its $100 million fund.

Under the Flipkart Ventures initiative, startups would be offered resources, guidance, and support for different milestones, such as prototype development, infrastructural support, network access and insights for international expansions.