Current Affairs Quiz 12th July 2024 Quiz

Exp. REC raises 31.96 billion Japanese yen through 5-year green loan

Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch.

The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India.

This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India.

The transaction marked one of the first yen-denominated green loan transactions for Deutsche Bank through its Gift City branch.

Exp. Colombo Security Conclave welcomes Bangladesh as Fifth Member

A regional security grouping, Colombo Security Conclave (CSC) welcomed Bangladesh as its fifth member at the 8th Deputy National Security Adviser (DNSA) level meeting hosted virtually by Mauritius.

The CSC includes India, Sri Lanka, Mauritius, and the Maldives, with Seychelles participating as an Observer State.

The Colombo Security Conclave was established in 2020, when India, Sri Lanka and the Maldives agreed to expand the scope of their trilateral meeting on maritime cooperation.

Mauritius joined the conclave at the fifth meeting of the grouping in Male in March 2022.

Member states agreed that the 7th NSA level meeting of the Colombo Security Conclave will be held in India later this year, the External Affairs Ministry said in a statement.

India was represented by NSA Ajit Doval at the 6th National Security Adviser level meeting of the Colombo Security Conclave (CSC) that was held in Mauritius on December 7, 2023 and saw participation by Mauritius and Sri Lanka, as well as delegates from Seychelles and Bangladesh.

About Bangladesh

• Capital– Dhaka
• Currency – Taka
• President – Mohammed Shahabuddin Chuppu
• Prime Minister – Sheikh Hasina

Exp. 2 Day BIMSTEC Foreign Ministers’ Retreat Begins in New Delhi

External Affairs Minister Dr S Jaishankar held a series of meetings this evening on the sidelines of the BIMSTEC Foreign Ministers’ Retreat.

He held a trilateral meeting with his counterparts from Thailand and Myanmar. Their discussions focused on connectivity projects crucial for the future of BIMSTEC.

They also exchanged views on border stability and humanitarian assistance.

About Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)

• Founded – 6 June 1997
• Headquarters – Dhaka, Bangladesh
• Membership – 7 (Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka &Thailand)
• Secretary General – Indra Mani Pandey (India)

Exp. SBI raises Rs 10,000 cr via infra bond issuance

State Bank of India (SBI) raised Rs. 10,000 crore today at a coupon rate of 7.36% through its sixth infrastructure bond issuance.

The issue attracted overwhelming response from investors with bids in excess of Rs18,145 crore and was oversubscribed by around 3.6 times against the base issue size of Rs. 5,000 crore.

The total number of bids received was 120 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc.

The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.

About State Bank of India (SBI)  

• Founded – 1 July 1955
• Headquarters – Mumbai, Maharashtra
• Chairman – Challa Sreenivasulu Setty; 27^th (replace Dinesh Kumar Khara)

Exp. WHO launched MeDevIS Platform for Medical Device Information

The World Health Organization (WHO) has launched MeDevIS, an online platform that provides users with access to information on medical devices.

The platform is designed to support decision-making on the selection, procurement, and use of medical devices for the prevention, diagnosis, and treatment of diseases and health conditions.

MeDevIS includes 2301 types of medical devices used in various health areas, including reproductive, maternal, newborn and child health, noncommunicable diseases such as cancer, cardiovascular diseases, diabetes, and infectious diseases such as COVID-19.

By providing a single platform that provides information on a wide range of devices, it is hoped that the platform will make it easier for healthcare professionals to make more informed decisions about the equipment they require.

Additionally, MeDevIS will make it possible for global governments and regulatory bodies to better understand the requirements for medical devices and streamline the procurement process.

About World Health Organization (WHO)

• Formation – 7 April 1948
• Headquarters – Geneva, Switzerland
• First President – Andrija Štampar
• Director General – Tedros Adhanom (Ethiopia)
• Deputy Director General – Soumya Swaminathan (Indian)
• Member Countries – 194

Exp. PNB launches ‘Safety Ring’ to enhance security for internet, mobile banking.

State-owned Punjab National Bank (PNB) has introduced a new security feature ‘Safety Ring’ within its internet banking system and mobile banking system in response to the increasing number of cyber frauds.

This mechanism provides an additional safety layer to minimise potential losses in case of unauthorised access by fraudsters.

Safety Ring is an optional feature that allows customers to set a daily transaction limit with respect to term deposits (TDs) on online closure or availing overdraft facility on TDs up to the set limit amount.

The limit set by the customer should be the consolidated digital channels limit up to which the customer can close the TD or avail overdraft facility on TD.

Recent Facilities Launched in Banking & Insurance Sector

• Shriram Life Insurance Company launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers.
• LIC launched ‘Jeevan Samarth’, an initiative aimed at transforming the agency ecosystem.
• Paytm launches ‘Health Saathi’ plan for its merchant partners
• Bajaj Allianz Life launched the Bajaj Allianz Life Nifty Alpha 50 Index Fund to provide investors with exposure to “high-alpha stocks”
• ICICI Bank launches Sapphiro Forex Card for Indian students

Exp. SBI introduces online loan facility against MF units via internet banking and YONO App

State Bank of India has introduced an online loan facility against mutual fund (MF) units through its internet banking (INB) and YONO App.

This digital solution allows consumers to apply for loans from the comfort of their own homes, with a completely paperless and digital process that is available 24 hours a day, seven days a week.

The new loan facility is extended at attractive interest rates to mutual fund schemes of all Asset Management Companies (AMCs) registered with CAMS.

The development marks a significant upgrade from the previous service, which was limited to loans against SBI Mutual Fund schemes only and was available only through branches requiring physical visits by customers.

Exp. RBI permits banks to use ratings of Brickwork Ratings subject to conditions

The Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators for discrepancies.

For existing ratings assigned to working capital facilities exceeding Rs 250 crore, Brickwork shall undertake rating surveillance only till the next renewal of such facility by banks.

In respect of existing ratings, Brickwork may undertake rating surveillance irrespective of the rated amount for the residual tenure of such loans.

About Reserve Bank of India (RBI) Updated 17/06/24

• 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
• 25th Governor – Shaktikanta Das

Exp. Moody’s revises outlook on Yes Bank from ‘stable’ to ‘positive’

Global rating agency Moody’s has revised its outlook on Indian private sector lender Yes Bank from “stable” to “positive” on the expectation of a gradual improvement in its depositor base and lending franchise. This will help improve its core profitability over the next 12-18 months.

The positive outlook takes into account the improvement in the bank’s asset quality and capitalization over the past 2-3 years.

This is somewhat offset by the bank’s weak core profitability driven by high funding costs and the strain from meeting priority sector lending (PSL) targets.

The rating agency also affirmed Yes Bank’s “Ba3” long-term (LT) foreign currency (FC) and local currency (LC) bank deposit ratings.

Exp. Parijat Industries honoured with CSR Leadership Award 2024

Parijat Industries India Pvt. Ltd. received the prestigious CSR Leadership Award 2024 at the Agriculture Leadership Conclave held at Hotel Holiday Inn, Aerocity, New Delhi.

The event was organized by the Agriculture Today Group.

The award, presented by the National Awards Committee chaired by Former Chief Justice of India, Justice P. Sathasivam, recognizes Parijat Industries’ significant contributions to rural communities and farmers through a range of impactful projects.

Parijat Industries (India) Private Limited is a fully integrated technical-to-final formulations manufacturing agrochemical company.

With an advanced R&D-based integrated crop protection approach, Parijat manufactures active ingredients and formulations, selling them under its proprietary brands globally and within India.

Recent Award

• France Highest Civilian Award “Chevalier de la Légion d’Honneur” – Roshini Nadar
• C. Narayana Reddy National Literary Award– Tamil writer Sivashankari
• First K. Saraswathi Amma Award – P Geetha
• Atal Pension Yojana Annual Award for FY24 by PFRDA – Bank of India
• Sustainable Governance Champion Award 2024 – Garden Reach Shipbuilders & Engineers Ltd.

Exp. PUMA to be footwear partner for Indian contingent at Paris Olympics 2024

PUMA India has partnered with Indian Olympic Association (IOA) as the official footwear partner for the Indian contingent heading to the Paris Olympics 2024.

PUMA has launched a grand outdoor campaign titled “See the Game Like We Do” to honor and celebrate the achievements of Indian athletes.

As part of this collaboration, over 100 Indian athletes will receive an array of products designed to enhance their training and comfort.

These include podium and travel footwear, trolleys, backpacks, sippers, yoga mats, headbands, wristbands, socks, and towels. Notably, 45 of these athletes are part of the PUMA contingent.

Exp. Agriculture Leadership Awards 2024: Nagaland adjudged as Best State in Horticulture

Nagaland has been adjudged as the best state in Horticulture in the prestigious Agriculture Leadership Awards 2024.

The award was given to the state for its outstanding work in introducing innovative programmes and policies for horticulture development, which has positively touched the lives of large number of farmers and the rural people in the State.

The annual awards were instituted in 2008 for recognizing excellence and leadership roles played by individuals and organizations towards the development of Indian agriculture and bringing about rural prosperity.

Nagaland has achieved G.I registration of three horticultural crops viz., Naga Mircha, Naga Tree Tomato and Naga Sweet Cucumber.

Exp. Rajat Sharma appointed as NBDA’s president

The News Broadcasters & Digital Association (NBDA) has unanimously elected India TV chairman Rajat Sharma as its president.

He replaces Avinash Pandey, the former CEO of ABP Network.

NBDA is the largest organisation of news broadcasters and digital media in India, consisting of almost all major news networks in the country.

Recent Appointment

• Principal Advisor to Union Health Ministry – Dr. Soumya Swaminathan
• CMD of Indian Energy Exchange – Satya Narayan Goel
• Spice Award 2024 – Sopna Kallingal
• CMD of India Trade Promotion Organisation – Pradeep Singh Kharola
• DG of Press Information Bureau – Dhirendra Ojha (replace Sheyphali Sharan)