Current Affairs Quiz 21st December 2023 Quiz

Exp. Accenture opened genAl studio in Bengaluru

Multinational professional services company Accenture has launched a generative AI studio in India’s tech capital Bengaluru.

The studio will develop a full stack of genAI capabilities for enterprises to leverage to optimize their business processes.

Accenture’s data and AI team and clients will co-create solutions with a modern data and AI foundation, LLM (large language model) architecture, ecosystems partnerships, talent, and responsible AI frameworks.

The studio in Bengaluru offers robust generative AI capabilities combined with a wide range of world-class technology services, and in-depth industry knowledge that is the hallmark of Accenture’s Advanced Technology Centers in India.

Exp. Kuno Forest Festival celebrated in Madhya Pradesh

A five-day Kuno Van Mahotsav was celebrated in Ranipura village on the outskirts of Sheopur district of Madhya Pradesh.

The event aims to highlight the diverse flora and fauna, and the jungle of Kuno, while also advocating for cheetah conservation. It included local art, craft, folk music, dance forms, and adventure sports.

The main attraction of the forest festival was adventure games, jungle safari, hot air ballooning, parasailing, paragliding, cave excursion, folk music, village tour, etc.

Madhya Pradesh offers a diverse culture and rich wildlife, which also includes cheetah sightings during jungle safari in Kuno. Tourists can also experience the taste of local food/cuisines.

About Madhya Pradesh

• Capital – Bhopal
• Chief Minister – Dr Mohan Yadav (replace Shivraj Singh Chauhan)
• Deputy CM – Jagdish Devda & Rajendra Shukla
• Speaker of Madhya Pradesh Assembly – Narendra Singh Tomar
• Governor – Mangubhai C. Patel
• Lok Shaba Seats – 29
• Rajya Sabha Seats – 11
• Legislative Assembly Seats – 230

Exp. NHAI Launched ERS Mobile App For Swift Emergency Response

The National Highways Authority of India (NHAI) has unveiled a groundbreaking initiative with the introduction of the ERS (Emergency Response Support System) mobile application.

This technological advancement aims to revolutionize emergency management on national highways across the country.

The ERS app is poised to play a pivotal role in ensuring swift and effective responses to road accidents and other emergencies, thereby enhancing overall safety and security on Indian highways.

The ERS app’s primary objective is to provide a rapid and seamless response mechanism during critical situations, such as accidents or medical emergencies, by connecting road users directly to the NHAI’s command and control center.  

Exp. Abdel Fattah El-Sisi elected as president of Egypt

President Abdel Fattah El-Sisi has secured a third six-year term leading the North African nation Egypt.

Sisi won another term with 89.6 percent of the vote.

Over 39 million Egyptians voted for the former army chief, who has ruled the nation for over a decade.

This will be Sisi’s final term in office as the Egyptian constitution only allows a president to sit for three terms.

He was first sworn into office in 2014 after the overthrow of the country’s first popularly elected president, Mohammed Morsi, and was reelected in 2018, both times winning with over 90 percent of the vote.

About Egypt

• Capital- Cairo
• Currency- Egyptian pound
• President – Abdel Fattah El-Sisi

Newly Appointed Prime Minister & President

• Prime Minister of Poland – Donald Tusk

• Prime Minister of Luxembourgish – Luc Frieden

• Prime Minister of Spain – Pedro Sanchez (re-elected)

• Prime Minister of Slovakia – Robert Fico (4th time)
• President of Ecuador – Daniel Noboa

• President of Gabon – Gen Brice Oligui

Exp. Unclaimed deposits in Indian banks rose by 28% at Rs 42k crore in 2023

The rate of unclaimed deposits in Indian banks has risen by 28% annual increase in unclaimed deposits with the banks to Rs 42,272 crore as on March 2023.

At the end of March 2023, the amount of unclaimed deposits in Indian banks was recorded at Rs 42,272 crore, while the previous year, there was Rs32,934 crore.

As much as Rs 36,185 crore unclaimed deposits were with public sector banks while Rs 6,087 crore were with private sector banks at the end of March 2023.

Banks send unclaimed deposits of account holders lying in their accounts for 10 or more years to RBI’s Depositor Education and Awareness (DEA) Fund.

As per the RBI’s direction, banks have been advised to display the list of unclaimed deposits in accounts that are inactive or inoperative for ten years or more on the banks’ websites and find the whereabouts of the customers, or legal heirs in case of deceased account holders, in order to return unclaimed deposits to the rightful claimants.

A centalised web portal, Unclaimed Deposits Gateway to Access Information (UDGAM), to search unclaimed deposits across multiple banks, has been set up by RBI.

Further, RBI has launched campaign ‘100 Days 100 Pays’ for banks to trace and settle the top 100 unclaimed deposits of every bank in each district within a 100-day timeframe, commencing from June 1, 2023 to September 8, 2023.

At the end of campaign, major 31 banks (which comprised of more than 90 percent of unclaimed deposit balances with the DEA Fund), have refunded Rs 1,432.68 crore in the campaign.

Exp. Government launched Sovereign Gold Bonds 2023-24 with Digital Discount

The Government of India has launched the Sovereign Gold Bond Scheme 2023-24 (Series III).

Stemming from the inaugural scheme in November 2015 under the Gold Monetization Scheme, this initiative aims to reduce the demand for physical gold.

Open for subscription from December 18 to December 22, the scheme introduces a digital discount for online applications, enhancing the accessibility and attractiveness of secure gold investments to a diverse investor base.

Investors opting for online applications and utilizing digital payment modes will benefit from a ₹50 discount per gram, reducing the issue price to ₹6,149 per gram during the subscription period.

Sovereign Gold Bonds (SGBs) are available for purchase by resident individuals, Hindu Undivided Families (HUFs), trusts, universities, and charitable institutions. Denominated in multiples of grams, the minimum investment is set at one gram of gold, ensuring accessibility for a broad spectrum of investors.

Featuring an eight-year tenor, investors have the flexibility of premature redemption after the fifth year. The redemption price will be determined based on the simple average of the closing price of 999 purity gold, providing a predictable exit strategy for investors.

Individuals and HUFs are limited to a maximum subscription of 4 kg per fiscal year, while trusts and similar entities have a higher limit of 20 kg. In cases of joint holdings, the 4 kg limit applies to the first applicant.

Investors can make payments through cash (up to ₹20,000), demand draft, cheque, or electronic banking. The fixed interest rate of 2.50 percent per annum, payable semi-annually, ensures a stable return for investors.   

Exp. Aditya Birla Sun Life collaborates with IDFC First Bank for financial solutions

Aditya Birla Sun Life Insurance and IDFC First Bank have entered into a bancassurance partnership to offer insurance solutions to the bank’s customers.

Under this collaboration, the insurer will leverage the extensive distribution network of IDFC First Bank.

Aditya Birla Sun Life will offer products and services, including those that focus on retirement planning, ensuring a steady source of second income and tax-free returns tailored to their life stages.

This collaboration will go a long way in enhancing accessibility, as well as making financial protection and planning easily available to a wider segment of customers served by IDFC FIRST Bank’s extensive distribution network.

The partnership will provide customers with a one-stop-shop for their financial needs, including a range of insurance and banking products, and enhance the customer experience.

Recent MoUs Signed in Banking Sector

• Kotak Mahindra Bank partners with IIT Kanpur to launch Kotak School of Sustainability
• ICICI Pru Life, Ujjivan SFB enter into Bancassurance tie-up
• SBI signed 70-million-euro LoC with Germany Bank’ KfW for solar projects
• Reliance Industries partners with DBS Bank for financing programme
• Intellect signs ₹80-crore deal with Indian Bank to deploy cash management system

Exp. U Gro Capital raises ₹250 crore from Dutch Development Bank

DataTech NBFC, U GRO Capital has raised ₹250 crore from the Dutch Entrepreneurial Development Bank FMO through rupee-denominated non-convertible debentures (NCDs).

The association will help strengthen the fund’s commitment towards greater financial inclusion in India.

The MSME-lending-focused NBFC has provided credit to more than 80,000 small businesses. Prior to this, it had raised ₹240 crore from Denmark’s Investment Fund for Developing Countries (IFU) in May 2023.

This transaction is proof of U GRO Capital’s ability to forge partnerships with and attract funding from reputed global DFIs (development finance institutions).

Of the NBFC’s total borrowings, around 20 percent are from development financial institutions and impact funds such as ResponsAbility, Calvert Impact Capital, Enabling Capital, SIDBI, and others.

Founder and MD of U Gro – Shachindra Nath.

Exp. Razorpay, Cashfree secured RBI nod for payment aggregator business

Digital payment companies Razorpay and Cashfree Payments have received final approval from the Reserve Bank of India (RBI) to operate as payment aggregators, enabling the fintechs to onboard new merchants after a nearly one-year-old regulatory ban.

The company has received the Payment Aggregator (PA) license from the RBI. It will now onboard new merchants on its payment gateway.

In December last year, the RBI had asked Razorpay and Cashfree to stop onboarding new merchants.

Razorpay has received the final authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator under the Payment Settlements Act, 2007.

Other players such as PayU, Paytm, JusPay, among others, are yet to receive a nod from the regulator to onboard new merchants.

Exp. Maheshwar Dayal Takes Over as Director General of Prisons

Senior IPS officer and Additional Director General of Police (ADGP) Maheshwar Dayal took charge as Director General of Prisons and Correctional Services.

He had served as Superintendent of Police (SP) in Virudhunagar, The Nilgiris and Nagapattinam districts and Deputy Commissioner of Police in Tirunelveli, Tiruchi and Gurgaon, Haryana.

He was also Commandant of Tamil Nadu Special Police, Tihar Battalion, Deputy Inspector General of Police, Central Industrial Security Force and Bureau of Civil Aviation.

Before becoming ADGP, he also served as Inspector General of Police (IG) Economic Offences of Tamil Nadu Police, IG, Anti-Naxal Commando force, Government of India, IG Anti-Naxal Operations, CRPF, Ranchi.

Recent Appointment

• CEO and MD of Stellantis India – Aditya Jairaj (replace Roland Bouchara)
• President of FICCI – Anish Shah (replace Subhrakant Panda)
• Senior Vice President of FICCI – Harsha Vardhan Agarwal
• Chairman of World Radiocommunication Conference 2023 – Mohammed Al Ramsi (UAE)
• Head of British Broadcasting Corporation (BBC) Board – Samir Shah

Exp. FIFA’s 32-team World Cup for clubs could change the face of football

FIFA announced on Sunday that its revamped Club World Cup, to be held for the first time in 2025, will feature 32 teams and will be played from mid-June to mid-July.

The United States will host the 2025 edition of the expanded event, which will be held every four years thereafter.

The tournament will have eight groups of four with the top two teams from each group going through to the knockout stages — the same format as the World Cup.

The current version of the FIFA Club World Cup — an annual competition with seven teams — will be discontinued after the tournament now being hosted by Saudi Arabia.

Europe will have 12 teams in the new competition and South America will have six, while Africa, Asia and North America will have four each.  

Exp. Dr. Nitin Mohan Lal received prestigious International Doctorate

Dr. Nitin Mohan Lal, a distinguished Psychologist, Reiki Grandmaster, NLP Practitioner, and Life Coach, has been bestowed with an honorary doctorate by a leading International University.

This accolade stands as a resounding recognition of Dr. Lal’s exceptional contributions to the field of healing, mentorship, and transformative personal development.

This prestigious honor is a testament to Dr. Lal’s unwavering commitment to empowering lives through a myriad of channels, including his courses, programs, healing sessions, and counseling services.

His diverse expertise encompasses a range of modalities, from the intricacies of Angelic healing to the profound principles of Reiki and NLP.

Exp. India’s Hardik and Savita win accolades in FIH Annual awards

Indian men’s hockey team midfielder Hardik Singh and women’s side captain Savita have won the FIH Player of the Year and Goalkeeper of the Year (women) awards respectively.

The awards were declared following a vote by an expert panel, National Associations — represented by their respective national teams’ captains and coaches, fans, and media.

This is Hardik’s second big award this year as he was also conferred the Hockey India Balbir Singh Sr Award for Player of the Year 2022.

As for Savita, this is her third consecutive FIH Women’s Goalkeeper of the Year award, having won the recognition in 2021 and 2022.

Xan de Waard of the Netherlands has been elected as the 2023 FIH Player of the Year in the women’s category.

Dutch goalkeeper Pirmin Blaak won the FIH Goalkeeper of the Year awards among men, while the awards for FIH Rising Stars went to Teresa Lima (Spain) and Gaspard Xavier (France).

China women’s head coach Alyson Annan and Germany men’s head coach André Henning won the FIH Coaches of the Year awards, while Ayanna McClean (Trinidad-and-Tobago) and Ben Göntgen (Germany) were awarded with the FIH Umpires of the Year recognitions.

Exp. INS Shivaji received ‘Vir Chakra’ of late Vice Adm. Benoy Chowdhury

INS Shivaji, Indian Navy’s premier marine engineering training institute, has received the Vir Chakra medal awarded to Late Vice Admiral Benoy Roy Chowdhury, the only technical officer of the Indian Navy to be awarded the honour.

Vice Admiral Dinesh Prabhakar, Distinguished Chair Marine Engineering at INS Shivaji, received the Vir Chakra on behalf of the Indian Navy from Pradipta Bose and Gargi Bose, the family members of Vice Admiral Chowdhury

The Vir Chakra is an Indian wartime military bravery award presented for acts of gallantry on the battlefield, on land or in air or at sea.

Vice Admiral Chowdhury is the only technical officer of the Indian Navy, who has been decorated with this prestigious award.

Vice Admiral Benoy Roy Chowdhury’s gallantry is firmly rooted during the1971 Indo-Pak War wherein, he was the Engineer Officer onboard erstwhile INS Vikrant.

During the course of deployment amidst the war, one of the boilers of Vikrant was rendered non-operational while the performance of the other three boilers were observed to be sub-optimal.

He along with his team undertook several innovative repairs at sea away from the base port without seeking any possible assistance from the British Original Equipment Manufacturers (OEMs).

Exp. 21 December – World Basketball Day

World Basketball Day is observed every year on 21 December.

Objective – To honour the development of a sport that has inspired millions of people worldwide with its athleticism, joy, and companionship.

In the areas of business, peace, and diplomacy, basketball is significant as it promotes a special environment of collaboration, physical activity, and interdependence that enables players to view one another first and foremost as fellow human beings

Dr. James Naismith, a Canadian physical education educator, invented basketball on December 21, 1891, at the International YMCA Training School in Springfield, Massachusetts, USA. He created the game to keep his students active throughout the winter.

The General Assembly declared August 25, 2023, to be World Basketball Day by adopting resolution A/RES/77/324.