Current Affairs Today 24th December 2024 Daily GK Update

Daily Current Affairs 24th December 2024 Daily GK Update

Current Affairs Quiz 2024, Daily gk updates and Current affairs play a major role in any competitive exam. so here we are providing the current affairs quiz on a daily basis for Bank, SSC, Railway and Other Government Competitive Examinations.

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 National News

Arvind Kejriwal launches Dr Ambedkar Samman Scholarship for Dalit students

• Aam Aadmi Party (AAP) chief Arvind Kejriwal has launched a new scholarship programme aimed at Dalit students in Delhi.
• The scheme, named the Dr Ambedkar Samman Scholarship, will cover all expenses for Dalit students wishing to pursue higher education abroad.
• The Delhi government would bear the entire cost of tuition, travel, and accommodation for those Dalit students who are accepted into foreign universities.

Govt to infuse Rs 500 cr in IFCI to improve its financial health

• The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company’s proposed restructuring and consolidation into a group.
• With the infusion, the government of India’s holding in the company is expected to further increase from existing 71.72 per cent as on September 2024.
• The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week.
• The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of Rs 499.99 crore for ‘Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI).
• The Industrial Finance Corporation of India was set up by the government on July 1, 1948 as the first Development Financial Institution in the country.
• In the second quarter ended September 2024, IFCI had booked a loss of Rs 22 crore and in the first half of FY24, a loss to the tune of Rs 170 crore.

Govt forms committee to look into IAF’s overall capability development

• The Defence Ministry has set up a committee to address the capability development of the Indian Air Force (IAF) amid critical shortage of fighter jets, weapons, and equipment.
• Chaired by the Defence Secretary Rajesh Kumar Singh, the committee includes senior ministry officials, Defence Research and Development Organisation (DRDO) chairman Dr Samir V Kamat, and IAF representatives.
• After comprehensive IAF briefings, the panel was tasked with preparing recommendations, which are expected to be submitted within two to three months.

RTE Amendments 2024: Schools now allowed to fail class 5 and 8 students

• In a major shift in school education policy, schools will now have the authority to ‘fail’ students in classes 5 and 8 if their performance does not meet required standards.
• The central government announced this amendment in the Right of Children and Free School Education Act 2010 (RTE Act 2010).
• The new amendments allow states to hold regular exams for the students of class 5 and 8 and hold them back if they fail. These amendments come five years after the RTE Act was amended, in 2019. Under the new rules, states are allowed to conduct ‘regular examinations for Classes 5 and 8 at the end of the academic year’.
• Students who ‘fail’ these exams will receive ‘additional instruction’ and have the chance to retake the examination two months later. If they still fail to meet the promotion criteria, they will be forced to repeat Class 5 or Class 8.
• States like Gujarat, Odisha, Madhya Pradesh, Jharkhand, Karnataka, and Delhi have already announced that children failing in classes 5 or 8 would be retained there. However, Karnataka had announced regular exams — essentially, public exams — for Classes 5, 8, 9, and 11. The effort was struck down by the Karnataka High Court in March 2024. States like Kerala have been entirely opposed to the idea of exams in Classes 5 and 8.
• The original version of the Right to Education (RTE) Act included a ‘no-detention policy’, which prohibited the practice of failing primary school students in a lower grade. Under this policy, all students were promoted to Class 8 automatically, regardless of their academic performance. Indians can travel to Malaysia without a visa for 30 days until Dec 2026

Indians can travel to Malaysia without a visa for 30 days until Dec 2026

• Malaysia has extended its visa exemption for Indian nationals until December 31, 2026, allowing them to visit the country without a visa for up to 30 days.
• This announcement was made by Datuk Awang Alik Jeman, the Secretary-General of the Home Ministry, who emphasized that the extension aligns with Malaysia’s 2025 ASEAN chairmanship and, the preparations for Visit Malaysia Year 2026.
• The visa liberalization plan, initially introduced in 2023, aims to enhance tourism and stimulate economic growth. A similar exemption also been granted to Chinese nationals, signaling Malaysia’s commitment to attracting more visitors from key markets.
• Currently, two airlines operate flights between Kolkata and Kuala Lumpur.

Banking and Financial

Poonawalla Fincorp Introduces AI in its HR Processes

• Poonawalla Fincorp has embarked on a groundbreaking initiative by integrating Artificial Intelligence (AI) across its Human Resources (HR) Strategic Business Unit (SBU).
• This industry-first move, is set to transform operational standards and ignite innovation within the financial services sector.
• Poonawalla Fincorp’s AI integration has revolutionized HR processes by drastically reducing the time to finalize job offers from traditionally around ten days to just under onea 90% decrease.
• This accelerated process is made possible by advanced AI tools that efficiently handle document verification and candidate screening. The use of AI has not only sped up the recruitment cycle but also achieved significant reduction in operational costs, significantly enhancing both efficiency and cost management.

Awards

IREDA Bags Triple Honours at 14th PSE Excellence Awards

• Indian Renewable Energy Development Agency Limited (IREDA) has been honoured with three awards at the 14th PSE Excellence Awards ceremony, organized by the Indian Chamber of Commerce (ICC) in New Delhi.
• The company won Gold Awards in the Mini Ratna category for “Corporate Governance” and “Corporate Social Responsibility & Sustainability.”
• Additionally, IREDA received the Silver Award for “Operational Performance Excellence.”
• The awards were presented by Dr. Bhaskar Chatterjee, Former Secretary, Department of Public Enterprises, and Shri Apurv Kumar Mishra, Member, Economic Advisory Council to the Prime Minister.
• Achievement – For studies of how institutions are formed and affect prosperity

Recent Award

• Sri Chandrasekarendra Saraswathi’ award for leadership – External Affairs Minister S Jaishankar
• Bhutan’s royal honour – Renowned Indian educationist Arun Kapur
• Jamsetji Tata Award by Indian Society for Quality (ISQ) – Kiran Mazumdars
• J C Daniel Award for 2023 – J C Daniel Award
• Social Security Good Practices at Asia-Pacific forum in Saudi – EPFO

Science

ISRO-European Space Agency Sign Deal For Cooperation In Astronaut Training

• Indian Space Research Organisation (ISRO) has entered into an agreement with European Space Agency (ESA) for cooperation on activities related to astronaut training, mission implementation, and research experiments.
• The agreement was signed by ISRO Chairman and Secretary, Department of Space (DOS) Dr S Somanath and ESA Director General Dr Josef Aschbacher.
• The agreement provides a framework for cooperative activities in human space exploration and research, especially in areas such as astronaut training, support for experiment development and integration, using ESA facilities on the International Space Station (ISS), human and biomedical research experiment implementation as well as joint education and outreach activities.
• For the upcoming Axiom-4 mission in which ISRO’s Gaganyatri and ESA’s astronaut are crew members, both agencies are collaborating to implement shortlisted experiments by Indian Principal Investigators on ISS.

South Korea successfully launches 3rd spy satellite into orbit

• South Korea successfully placed into orbit its third homegrown spy satellite launched from a US space centre.
• SpaceX Falcon 9 rocket carrying the satellite normally lifted off from the Vandenberg Space Force Base in California as planned.
• It is the third military satellite launched under South Korea’s plan to acquire five spy satellites by 2025. South Korea has previously relied largely on satellite imagery provided by the United States.

Sports 

Russian tennis player Daniil Savelev suspended for 2 years for doping

• Russian tennis player Daniil Savelev has been handed a two-year suspension for violating anti-doping regulations.
• The International Tennis Integrity Agency (ITIA) announced that Savelev tested positive for the prohibited substance meldonium during a test conducted in July 2024.
• Consequently, he has been provisionally suspended since August of the same year, and his suspension will conclude in August 2026.
• At the time of the violation, Savelev had achieved a career-high world doubles ranking of 1,486 in August 2022.

Important day

23 December – National Farmer’s Day

• Kisan Diwas, or National Farmer’s Day, is observed annually on December 23 to honour the birth anniversary of Chaudhary Charan Singh, India’s fifth Prime Minister and a dedicated advocate for farmers.
• This day is celebrated to express gratitude to the farmers who form the foundation of the country’s economy.
• Theme 2024 – Empowering ‘Annadatas’ for a Prosperous Nation
• Kisan Diwas, or National Farmer’s Day, is observed annually on December 23 to honour the birth anniversary of Chaudhary Charan Singh, India’s fifth Prime Minister and a dedicated advocate for farmers.
• In 2001, the Government of India designated December 23 as Kisan Diwas to commemorate Chaudhary Charan Singh’s contributions toward the upliftment of farmers.

24 December – National Consumer Rights Day

• National Consumer Rights Day is observed on December 24 every year in India to raise awareness about consumer rights and advocate for consumer protection.
• The day commemorates the enactment of the Consumer Protection Act, 1986, which provides a framework for protecting consumers from unfair trade practices.
• It aims to educate consumers about their rights, including the right to safety, information, choice, and redress in cases of grievance.

Obituary

Snack Brand Epigamia Founder Rohan Mirchandani Dies

• Snack foods firm Epigamia’s founder Rohan Mirchandani died at the age of 41.
• Mirchandani, an alumnus of NYU Stern and The Wharton School, founded Drums Food International in 2013.
• Under his leadership, Epigamia transitioned from a modest venture into a household name in urban India, offering a diverse range of health-focused products. The brand’s reach extended to over 20,000 retail points across 30 cities, with plans for expansion into the Middle East by 2025-26.

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