Current Affairs Quiz 26th and 27th December 2024 Quiz

Exp. Defence Secretary launched Rashtraparv Website & Mobile App on Good Governance Day

Defence Secretary Rajesh Kumar Singh has launched the Rashtraparv Website along with its Mobile App on Dec 25, 2024 on the occasion of ‘Good Governance Day’ commemorating the birth anniversary of former Prime Minister Shri Atal Bihari Vajpayee.

The website will facilitate access to information related to organization of national events such as Republic Day, Beating Retreat Ceremony, Independence Day etc., live streaming, purchase of tickets, provide information related to seating arrangements & route-maps of events etc.

The website and mobile application have been a result of consultative process adopted by Ministry of Defence.

The states had suggested for a portal for management of tableaux designs data. Similarly, viewers of Republic Day event in the feedback had suggested to have information regarding events, parade, tableaux with them.

Exp.  Equity raised through IPOs will cross Rs 2 trillion in 2025: Report

India has emerged as the global leader in Initial Public Offerings (IPOs), hosting twice as many IPOs as the United States and 2.5 times more than Europe, shows data analysed by Pantomath Group.

In the first 11 months of 2024 alone, 76 companies raised Rs 1.3 trillion. Pantomath Group’s report now predicts Rs 2 trillion+ record-breaking IPO fundraising in 2025.

India achieved a historic milestone by securing the top position globally in terms of IPO volume for the first time, surpassing both the US and Europe, with nearly double the number of IPOs listed compared to the US and two-and-a-half times more than Europe.

In contrast, the US reclaimed the lead in IPO proceeds for the first time since the peak in 2021, reinforcing its status as the most vibrant and appealing market for global investors,” noted the report.

Meanwhile, tighter regulations in mainland China resulted in the weakest IPO performance in a decade in that region. The Technology, Media and Telecommunications (TMT), industrials, and consumer sectors were the leading drivers of global IPO activity, collectively representing about 60% of the total IPOs by both number and proceeds.

The table above shows that India leads globally in IPO activity, with 332 IPOs, significantly outpacing the US at 205 and China at 130. Western Europe and Japan trail far behind with 64 and 80 IPOs, respectively.

However, despite having fewer IPOs, the US dominates in total IPO value at $35.6 billion, indicating larger IPO sizes on average. India follows at $22.7 billion, reflecting a vibrant but smaller-scale IPO market. Western Europe and China have comparable IPO values at $17.7 billion and $17.0 billion, while Japan lags significantly at just $2.3 billion.

Exp. Ajay Bhalla named new Manipur Governor; Arif Mohammed Khan shifted to Bihar

Former Union Home Secretary Ajay Bhalla has been appointed the new Governor of Manipur in the latest gubernatorial appointments and reshuffle by President Droupadi Murmu.

The other key appointment is that of former Union Minister General V. K. Singh (Retd.) being made the new Governor of Mizoram, while Kerala Governor Arif Mohammed Khan has been moved to Bihar.

The President has also accepted the resignation of Odisha Governor Raghubar Das. The incumbent Governor of Mizoram, Dr. Hari Babu Kambhampati, replaces Mr. Das.

The incumbent Bihar Governor Rajendra Vishwanath Arlekar has been named the new Governor of Kerala.

Exp. Amitava Chatterjee appointed new MD & CEO of J&K Bank

J&K Bank has appointed Amitava Chatterjee, currently Deputy Managing Director of State Bank of India (SBI), as its new managing director (MD) and CEO.

Chatterjee will replace Baldev Prakash, whose term comes to an end on December 29.

Chatterjee, in his banking career spanning over more than three decades in diverse geographical locations and strategic positions, also served as MD and CEO of SBI CAPS.

His diverse experience includes heading the SBI’s operation as CGM New Delhi, circle and Jaipur Circle with high-end clientele like PSUs, NBFCs, and DISCOMs.

Recent Appointment in Banking & Insurance Sector

• MD of State Bank of India (SBI) – Ram Mohan Rao Amaras
• Chairman of Indian REITs Association – Alok Aggarwal
• MD & CEO of RBL Bank – R Subramaniakumar
• Executive Director of YES Bank – Manish Jain

Exp. Centre appoints Arunish Chawla as new Revenue Secretary in Finance Minsitry

The Appointments Committee of the Cabinet has appointed secretary in the Department of Pharmaceuticals Arunish Chawla as the next revenue secretary.

A 1992-batch Indian Administrative Service (IAS) officer from the Bihar cadre, Chawla will take over from economic affairs secretary Ajay Seth.

Seth is holding additional charge of revenue secretary following Sanjay Malhotra’s appointment as Reserve Bank of India (RBI) governor.

Chawla has been serving as secretary in the Department of Pharmaceuticals within the Ministry of Chemicals and Fertilisers since November 1, 2023.

Chawla has more than three years in service left with his tenure scheduled to end in July 2028.

Neelam Shami Rao, currently secretary in the National Commission of Minorities, is the new textiles secretary.

Amit Agrawal, chief executive officer (CEO) at the Unique Identification Authority of India (UIDAI), will become secretary in the Department of Pharmaceuticals.

Vineet Joshi has been appointed secretary in the Department of Higher Education.

Exp. Adani’s Mundra port welcomes its first-ever LNG-Powered Vessel

Adani Ports and Special Economic Zone (APSEZ) Mundra welcomed CMA CGM Fort Diamant, the first-ever Liquefied Natural Gas (LNG) powered container vessel to dock at the port’s Container Terminal-CT4.

This vessel, measuring 268 meters in length and 43 meters in beam, is the third in a series of LNG-powered ships with a capacity of 7,000 containers.

Operating on the CIMEX2K/AS-1 service connects the Indian subcontinent with China, further enhancing global trade routes.

Adani’s, Mundra port is India’s largest port and flagship of APSEZ, and is equipped with state-of-the-art infrastructure to handle vessels of up to 21 meters in depth, supported by robust connectivity through highways, rail corridors, and, the Dedicated Freight Corridor (DFC).

Adani Ports and Special Economic Zone Limited (APSEZ) is the largest commercial port operator in India accounting for nearly one-fourth of the cargo movement in the country. It has presence across 13 domestic ports in seven maritime states of Gujarat, Maharashtra, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

Exp. Akums Group inks pact worth 200 million euros for European market

Contract development and manufacturing organisation, Akums Group has entered into a strategic long-term agreement at an estimated value of 200 million euros (Rs 1,760 crore) with an undisclosed global pharma firm for manufacturing and supply of formulations in the European market.

Under this collaboration, Akums Group will produce and supply multiple Stock-keeping units of oral liquid formulations, which the partner company will market across various European countries.

As part of the agreement, Akums Group will receive an upfront payment of 100 million euros (Rs 880 crore) for product development and site approval from European authorities.

The commercial supply of these products is expected to begin in 2027 and will continue to be supplied till 2032.

Exp. Martina Devi wins silver in women’s junior +87kg at Asian Junior Weightlifting Championships

Indian lifter Martina Devi clinched a silver medal in the women’s junior +87kg category at the Asian Junior Weightlifting Championships.

The 18-year-old from Manipur lifted a total of 225kg (96kg+129kg) to finish second in the three-lifter field. She also won a silver medal for her clean and jerk effort and a bronze for her snatch.

Exp. PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme

Four years after the Union government launched the Svamitva scheme to digitise property records in rural areas, Prime Minister Narendra Modi distributed 58 lakh property cards providing ‘Record of Rights’ to owners in over 50,000 villages across 12 States at a virtual event.

Prime Minister was launched the SVAMITVA scheme with a vision to enhance the economic progress of rural India by providing a ‘Record of Rights’, to households possessing houses in inhabited areas in villages through the latest surveying drone technology.

The scheme also helps facilitate monetization of properties and enables institutional credit through bank loans; reducing property-related disputes; facilitating better assessment of properties and property tax in rural areas and, enabling comprehensive village-level planning.

Drone survey has been completed in over 3.1 lakh villages, which covers 92% of the targeted villages. So far, around 2.2 crore property cards have been prepared for nearly 1.5 lakh villages.

The scheme has reached full saturation in Tripura, Goa, Uttarakhand and Haryana.

Drone surveys has been completed in the states of Madhya Pradesh, Uttar Pradesh, and Chhattisgarh and also in several Union Territories.

Exp. RINL wins Gold award at the AP State Energy Conservation Award-2024 competitions

RINL, the corporate entity of Visakhapatnam Steel Plant has won the prestigious “Gold Award” in the State Energy Conservation Award 2024 competitions (conducted by the State Energy Conservation Mission of Andhra Pradesh) for its significant initiatives towards Energy Conservation in the Iron & Steel category.

This prestigious Gold award was bestowed on RINL for implementing Energy conservation measures during the last 3 years, harnessing waste energy.

The Gold Award was received on behalf of RINL by Sri Uttam Brahma, GM (Energy, Environment & Utilities) RINL and Sri VVVS Pulla Reddy, DGM (Energy Management Department) RINL.

Exp. Maia Sandu Sworn in as President of Moldova for 2nd Term

Ms Maia Sandu was sworn in as the President of the European country of Moldova for her second term of four years.

Ms Maia Sandu first became the President of Moldova in 2020. She was the first woman to become the President of the country after it gained Independence in 1991, following the collapse of the Soviet Union.

According to the constitution of Moldova, a person can be the President of the country for two terms of four years each.

During her rule, the country moved away from Russia and sought closer ties with the European Union. In 2022, Moldova applied for membership in the 27-nation European Union.

About Moldova

• Capital – Chisinau
• Currency- Moldovan Leu
• Official language- Romanian
• President- Maia Sandu

Exp. Former PM Manmohan Singh passed away at 92

Manmohan Singh, India’s 14th Prime Minister, who is considered the architect of the economic reforms in the country, passed away at the age of 92.

Singh, who served as prime minister for two consecutive terms from 2004 to 2014 under the Congress-led United Progressive Alliance (UPA), had been in declining health in recent months.

Singh presided over a period of unprecedented growth during his tenure as prime minister. Between 2004 and 2014, India witnessed rapid economic expansion, the fastest since Independence, emerging as a nearly $2 trillion economy.

His government was also marked by a series of transformative rights-based legislations, including the Right to Food, Right to Education, Right to Work, and the Right to Information. These initiatives reshaped Indian politics, bringing inclusive growth to the forefront.

Born on September 26, 1932, in Gah in West Punjab, now in Pakistan, Singh migrated to India during the Partition. He earned his Bachelor’s and Master’s degrees in Economics from Panjab University in 1952 and 1954, respectively, followed by an Economic Tripos at Cambridge University (1957) and a D.Phil in Economics from Oxford University (1962).

Singh was awarded the Padma Vibhushan in 1987 and received international accolades, including the Euro Money Award for Finance Minister of the Year in 1993 and the Asia Money Award in 1993 and 1994. He was given the Jawaharlal Nehru Birth Centenary Award of the Indian Science Congress in 1995.

Exp. 26 December – Boxing Day

Boxing Day is celebrated every year on December 26th.

Boxing Day is an official bank holiday in England, Canada, New Zealand, and Australia. In South Africa, it is called the ‘Day of Goodwill’ and is also a holiday.