Current Affairs Quiz 16th December 2024 Quiz

Exp. Manish Jain Appointed Executive Director at YES Bank

Private sector lender YES Bank has appointed Manish Jain as executive director (whole-time director) of the bank for three years.

Jain, who joined YES Bank in September 2023, currently oversees its corporate and wholesale banking business.

Before his new designation, he served as the Country Head of Wholesale Banking, where he played a critical role in driving the bank’s strategic initiatives in large corporate, government, and financial institution sectors.

With a career spanning over three decades, Jain brings extensive experience in banking and finance, including 23 years at Standard Chartered Bank.

Recent Appointment in Banking & Insurance Sector

• MD & CEO of TransUnion CIBIL – Bhavesh Jain (replace Rajesh Kumar)
• Governor of RBI – Sanjay Malhotra;26th (replace Shaktikanta Das)
• RBI representative at IBBI board – Vaibhav Chaturvedi
• MD & CEO of SBI Funds Management – Nand Kishore (replace Shamsher Singh)
• MD and CEO of Indian Bank – Binod Kumar (replace S L Jain) final approval pending

Exp. NDTL receives approval from WADA to manage Athlete Biological Passport

National Dope Testing Laboratory (NDTL), New Delhi has received the approval from World Anti-Doping Agency (WADA) as an Athlete Passport Management Unit to manage Athlete Biological Passport.

The National Dope Testing Laboratory (NDTL) has received approval from the World Anti-Doping Agency (WADA) to manage the Athlete Biological Passport (ABP), which is significant for the country’s initiatives to curb the abuse of banned performance-enhancing substances.

The Athlete Biological Passport is an advanced anti-doping tool that monitors an athlete’s biological markers over time. It analyzes variations in parameters such as blood and steroid profiles to ensure fair play in sports and to protect clean athletes.

Exp. Elon Musk makes history: Surpasses $400 billion net worth, widening lead over Bezos and Zuckerberg

Elon Musk has become the first person to surpass $400 billion in net worth, solidifying his position as the world’s richest individual.

 According to the Bloomberg Billionaires Index, Musk’s fortune has reached $447 billion, marking significant growth since the US presidential election.

Musk’s increasing wealth highlights the rising value of his ventures, particularly in the electric vehicle and space sectors, as Tesla and SpaceX continue to lead their respective markets.

Amazon founder Jeff Bezos is a distant second on the list with a total worth of $249 billion and Mark Zuckerberg is a close third at $224 billion.

Larry Ellison is in the fourth position with a net worth of $198 billion and Bernard Arnault is at $181 billion.

Elon Musk’s wealth isn’t just tied to his well-known companies, SpaceX and Tesla. His artificial intelligence startup, xAI, has seen its valuation double to $50 billion since May.

Exp. BOBCARD unveils a women-centric credit card with free health perk vouchers

BOBCARD LIMITED has introduced the TIARA Credit Card, premium credit card designed exclusively for women.

Unveiled by model and actor Milind Soman, Pinkathon creator and yoga practitioner Ankita Konwar, and Ravindra Rai, MD & CEO of BOBCARD LIMITED, the TIARA card is powered by the RuPay network.

It offers a host of rewards and benefits across travel, dining, lifestyle, entertainment, and health categories, catering to the aspirations of modern women.

The TIARA cardholders get complimentary vouchers and memberships worth up to Rs 31,000 from leading brands like Myntra, Nykaa, Flipkart, Lakme Salon, and Urban Company.

To amplify the card’s empowering message, BOBCARD has collaborated with cricketer Shreyanka Patil, who embodies the campaign tagline ‘Your Woman Card is Your Power Move.’

Exp. Max Life rebrands to Axis Max Life Insurance after regulatory approval

Max Life Insurance announced a change in its corporate name to Axis Max Life Insurance after receiving the corporate and regulatory approval.

Earlier this year, Axis Bank’s board of directors approved the proposal to acquire Max Life shares, raising Axis entities’ total holding in the insurance company to 19.99 percent from 19.02 percent.

Following this stake acquisition by Axis Bank, the stake of MFSL in Max Life reduced to 81 percent from 87 percent earlier.

The new brand identity is reflected in a new logo through the inclusion of Axis’s ‘A’ and burgundy shade.

According to its exchange filing, the new brand names would carry forward the legacy of trust and expertise of Max identity, adding confidence and familiarity.

Exp. World Bank approves $325 Million Project to Boost Agriculture in Uttar Pradesh

The World Bank has approved the Uttar Pradesh Agriculture Growth and Rural Enterprise Ecosystem Strengthening (UP-AGREES) Project, a $325.10 million initiative aimed at enhancing farmers’ incomes in Uttar Pradesh through improved crop productivity, adoption of digital and climate-resilient practices, and better market connections.

 The project also seeks to attract $15 million in private investment to bolster these efforts.

Over the past decade, Uttar Pradesh has emerged as a leader in Indian agriculture, ranking first in wheat production, second in rice, and third in agricutural exports.

Despite this progress, small-scale farmers continue to face challenges such as low productivity, limited access to modern technology, and inadequate post-harvest infrastructure. The UP-AGREES Project aims to address these barriers, benefiting one million producers, particularly in the Eastern UP and Bundelkhand regions.

Exp. 13 December – National Horse Day

National Horse Day is celebrated annually on December 13 in India to honor and acknowledge the importance of horses in the country’s history, culture, and economy.

The day is meant to highlight the significant role horses have played in India’s agriculture, transportation, sports, and military. It serves to promote awareness about horse welfare and the need to protect and preserve these majestic animals.

Exp. 14 December – National Energy Conservation Day

National Energy Conservation Day is celebrated annually on December 14 in India to raise awareness about the importance of energy conservation and efficient energy usage.

The day highlights the need for reducing energy consumption and promoting sustainable energy practices to protect the environment and ensure the sustainable development of the nation.

Theme 2024 – Powering Sustainability: Every Watt Counts

Introduced in 1991, the National Energy Conservation Day is championed by the Bureau of Energy Efficiency (BEE) under the Ministry of Power and serves as a reminder of the vital role that energy plays in our day-to-day lives and the urgency to conserve it. It symbolises India’s commitment to energy efficiency and conservation.

Exp. Mikheil Kavelashvili elected as the president of Georgia

Mikheil Kavelashvili, a former Manchester City footballer and MP with the Georgian Dream party, will become Georgia’s next president.

The Georgian Dream party controls the electoral college deciding his appointment, having eliminated popular voting for president in 2017.

Kavelashvili will join George Weah of Liberia as only the second former footballer to serve as a head of state.

Exp. SBI chief to head panel to recommend fresh list of accounts for NARCL: DFS

The Department of Financial Services (DFS) in the Finance Ministry has decided to set up a Committee under the Chairmanship of SBI Chairman C S Setty to submit a fresh list of accounts for transfer to the National Asset Reconstruction Company Limited (NARCL), colloquially known as ‘Bad Bank’.

This emerged at a review meeting chaired by DFS Secretary M Nagaraju to address key operational challenges and enhance the efficiency of resolution mechanisms through NARCL and the National Company Law Tribunal (NCLT).

Till date, NARCL, which came into the scene in mid-2021, has acquired 22 accounts with an exposure of ₹95,711 crore. The Finance Ministry had a few months back said that it was targeting stressed assets transfer of ₹1 lakh crore to the National Asset Reconstruction Company Ltd (NARCL) by March 2025.

Essentially, a Bad Bank serves as an entity that consolidates a bank’s bad loans or non-performing assets (NPAs) and works towards resolving or liquidating these stressed assets to recover maximum value.

In India, NARCL acquires these loans by paying 15 per cent of the amount in cash and the remainder in government-guaranteed SRs, which banks can invoke during the resolution or liquidation of bad loans.

Exp. Shaheen Afridi Becomes Youngest Bowler to take 100 Wickets in all 3 formats

Pakistan pacer Shaheen Afridi made history by becoming his country first bowler to take 100 wickets in each format of the international cricket.

The left-arm pacer achieved the milestone during the first T20I against South Africa in Durban. The hosts defeated Pakistan by 11 runs in the match.

In the match, Shaheen took three wickets to complete 100 T20I wickets in 74 T20s and became the first Pakistan bowler to have 100 wickets in each format of the game.

Shaheen became the youngest player in the world to achieve the feat and the first to reach 100 wickets in all three formats of the game in international cricket before turning 30.

Notably, he become the youngest bowler to take 100 wickets in all three formats. He joined the club of New Zealand’s Tim Southee, Bangladesh’s Shakib Al Hasan, and Sri Lanka’s Lasith Malinga.

Afridi became the second fastest Pakistani bowler to achieve this feat. Now, he only behind Haris Rauf, who achieved this milestone in 71 matches.

Exp. Legendary tabla maestro Zakir Hussain passes away at 73

Legendary tabla maestro Zakir Hussain passed away at the age of 73.

Ustaad Zakir Hussain was born on March 9, 1951, in Mumbai. As the eldest son of the illustrious tabla player Allah Rakha, he was naturally drawn towards music from a very young age.

In a career spanning six decades, Hussain won five Grammy Awards, including three at the 66th Grammy Awards earlier this year. He also acted in a few movies including ‘Saaz’, ‘Heat and Dust’. His most recent film ‘Monkey Man’ was released in 2024.

Zakir Hussain collaborated with several renowned artists, both Indian and international. His 1973 project with English guitarist John McLaughlin, violinist L Shankar, and percussionist T.H. ‘Vikku’ Vinayakram was groundbreaking.

Hussain received the Padma Shri, one of the country’s highest civilian honours, in 1988, the Padma Bhushan in 2002, and the Padma Vibhushan in 2023.

Exp. Emmanuel Macron announces Francois Bayrou as the new PM of France

French President Emmanuel Macron has been named Francois Bayrou his fourth prime minister of 2024, tasking the veteran centrist with steering the country out of its second major political crisis in the last six months.

Centrist Bayrou marks the country’s fourth prime minister this year after Barnier resigned on Dec. 5 in the wake of a historic no-confidence vote, which saw an unlikely alliance between opposition parties on the left and far right.

The 73-year-old veteran politician has led France’s centre-right Democratic Movement since he founded it in 2007 and is a longtime ally of Macron. He will now be expected to form a new government in the coming weeks.

About France

• Capital- Paris
• President- Emmanuel Macron
• Prime Minister– Francois Bayrou
• Official language- French