Current Affairs 12 December 2023

We are here for you to provide the important Recent and Latest Current Affairs 12 December 2023, which have unique updates of Latest Current Affairs 2023 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Cabinet Approvals on 8^th December 2023The Cabinet Committee on Economic Affairs(CCEA) chaired by Prime Minister, Shri Narendra Modi, approved the following

i.Reservation norm for mandatory use of jute in Packaging for jute year 2023-24 under the Jute Packaging Material (JPM) Act,1987.

• The Mandatory packaging norms provide for 100% reservation of the foodgrains and 20% of sugar to be compulsorily packed in jute bags.

ii.Additional allocation of Rs.2500 Cr for the continuation of the Interest Equalisation Scheme till 30th June 2024. This initiative allows exporters, MSME manufacturer exporters, to avail the pre- and post-shipment Rupee export credit at competitive interest rates.

• The scheme shall be implemented by Reserve Bank of India (RBI) through various Public and non-Public Sector banks who provide pre and post shipment credit to the exporters. The Scheme is jointly monitored by the Directorate General of Foreign Trade (DGFT) and RBI.

>> Read Full News

GoI Approves 1st Urban Flood Mitigation Project Worth Rs 561.29 Crore The government of India(GoI) has approved the first urban flood mitigation project of Rs. 561.29 crore for the ‘Integrated Urban Flood Management Activities for Chennai Basin Project’ under the National Disaster Mitigation Fund (NDMF), which also includes central assistance of Rs. 500 crore.
About the urban flood mitigation project:
i.This is the first of its kind of urban flood mitigation efforts to develop a broader framework for urban flood management.
ii.The mitigation project will help make Chennai flood-resilient disasters by implementing comprehensive flood management strategies.
iii.The project aims to re-establish the surplus canals for erstwhile minor irrigation tanks in Chennai, Restore waterbodies and Install software for remote operation of surplus regulators during floods.
Relief Assistance for Cyclone Michaung:
Government of India has directed the Ministry of Home Affairs (MHA) to release in advance the central share of the 2nd installment of the State Disaster Response Fund (SDRF) of Rs 493.60 crore to Andhra Pradesh and Rs 450 crore to Tamil Nadu to help state governments with the management of relief necessitated by the Cyclone Michaung.
Note:
i.Cyclone Michaung has made its landfall near Bapatla, Andhra Pradesh, after pouring heavy rain in northern Tamil Nadu, including Chennai.
ii.The name ‘Michaung’ was proposed by Myanmar, which signifies resilience and fortitude.

PM Inaugurates the 1st Indian Art, Architecture & Design Biennale 2023 Prime Minister (PM) Narendra Modi inaugurated the 1st Indian Art, Architecture, and Design Biennale 2023 (IAADB’23), which is being organized by the Ministry of Culture from 9th to 15th December 2023 at Red Fort in New Delhi, Delhi.

• The event brings together artists, designers, and architects from India to showcase innovations in art, design, and architecture.
• During the program, the PM inaugurated the ‘Aatmanirbhar Bharat Centre for Design’ and the student Biennale- Samunnati. He also launched a Commemorative Stamp.

About Ministry of Culture:
Union Minister– G. Kishan Reddy (Constituency- Secunderabad, Telangana)
Ministers of State– Meenakashi Lekhi (Constituency- New Delhi, NCT of Delhi); Arjun Ram Meghwal (Constituency- Bikaner, Rajasthan)
>> Read Full News

24th Hornbill Festival Concluded in Nagaland 
Hornbill Festival, referred as ‘Festival of Festivals’ is annually from 1st to 10th December in Nagaland to encourage inter-tribal interaction and to preserve, protect and revive the uniqueness and richness of the Naga heritage.

• The 24th edition of the Hornbill Festival was held from 1st to 10th December 2023 in Naga Heritage Village of Kisama located at a distance of 12 km from Kohima, in Nagaland.
• The festival is annually organised by the Government of Nagaland. The United States of America(USA), Germany and Columbia were the Country Partners and Assam was the Partner state for this 24th edition of Hornbill festival.

i.The festival was inaugurated with the Traditional Gong by Governor of Nagaland La Ganesan and Chief Minister (CM) Neiphiu Rio, the hosts of the festival.

• Ambassador of USA to India Eric Garcetti, Ambassador to British High Commissioner to India Alex Ellis, Ambassador of Colombia to India Dr. Victor Echeverri Jaramillo and German Consul General Kolkata Barbara Voss graced the inaugural function as Honoured Guests.
• The 10 day festival featured Hornbill Music Festival, exhibitions, cultural event, and indigenous games.

ii.The closing ceremony witnessed the performances of 18 Cultural Troupes from various tribes and communities.
Note: The first ever hornbill festival was held in Nagaland in 2000.

BANKING & FINANCE

Highlights of RBI’s 5th Bi-monthly Monetary Policy of FY24: Repo rate retained at 6.5%

The Reserve Bank of India (RBI)’s 5th Bi-monthly Monetary Policy Committee (MPC), held from 6th to 8th December 2023, has decided to retain the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% for the 5th consecutive time.

• The standing deposit facility (SDF) rate is also retained at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate is at 6.75%.

i.RBI has kept India’s real Gross Domestic Product (GDP) growth 7% in FY24 (2023-24) with FY24’s Q3 at 6.5%, and Q4 at 6%.
ii.Consumer Price Index (CPI) inflation or retail inflation is projected at 5.4% for FY24, with Q3 at 5.6%, and Q4 at 5.2%..
iii.To encourage the use of Unified Payments Interface (UPI), for medical and educational services, RBI raises the limit for UPI payments to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction.
Static Points:
i.Under the Reserve Bank of India (RBI), Act,1934 (RBI Act,1934) (as amended in 2016), RBI is entrusted with the responsibility of conducting monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth.
ii.Section 45ZB of the amended RBI Act, 1934 provides for an empowered six-member Monetary Policy Committee (MPC) to be constituted by the Central Government by notification in the Official Gazette.

• The first such MPC was constituted on September 29, 2016.

>> Read Full News

DPIIT Collaborates with World Bank to elevate India’s logistics efficiency The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry(MoCI), collaborates with the World Bank (WB) to improve India’s logistics efficiency.

• This information was shared during the DPIIT meeting with World Bank Team in New Delhi, Delhi which was chaired by Special Secretary (Logistics), DPIIT, Sumita Dawra.
• The aim behind the collaborative efforts is to elevate India’s ranking in the WB  Logistics Performance Index (LPI).

Note:
The meeting showcased effective practices adopted by Indian ministries, reflecting a commitment to continuous improvement in logistics efficiency.
Key Points:
i.Land Ports Authority of India (LPAI)- Implementation of the Land Port Management System (LPMS) to digitise operations at Integrated Check Posts (ICPs)
ii.Ministry of Railways- Unveiling plans for 100% electrification of railway tracks, a marked acceleration in track construction speed, and increased capacity for locomotives and wagons.

• Capital expenditure (CAPEX) of USD 31.2 billion in 2024 is slated for the improvement of freight transport speed and volume.

iii.Ministry of Ports, Shipping and Waterways (MoPSW)- Launch of NLP Marine, a National maritime single-window platform offering end-to-end logistics solutions for seamless document exchange among exporters, importers, and service providers.
iv.Central Board of Indirect Taxes and Customs (CBIC)- Integration of Indian Customs Electronic Data Interchange Gateway (ICEGATE) (Customs Automated Portal) for various APIs and digitization efforts in application filing, processing, and digitally signed delivery of Authorized Economic Operator (AEO) certification.
v.Ministry of Road Transport & Highways (MoRTH)- Blueprint for 35 multi-modal logistics parks (MMLPs), 108 port connectivity projects, and 608 way-side amenities sites., introduction of FASTag for electronic toll collection.
vi.Ministry of Civial Aviation (MoCA)- Implementation of the e-Air Way Bill (e-AWB) and e-Cargo Security Declaration as digital measures. The upcoming launch of e-Gatepass is in September 2024.
Modern Agricultural Science Technology Center launched in MPKV, Maharashtra
World Bank funded National Agricultural Higher Education Project(NAHEP) and Indian Agricultural Research Project New Delhi, Modern Agricultural Science Technology Center for Climate Adapted Agriculture and Water Management has been launched at Mahatma Phule Krishi Vidyapeeth(MPKV) (Agriculture University), Rahuri in Ahmednagar district , Maharashtra.

• Under this project, the faculties of the university will be trained in the use of drones, robots, Internet of Things (IOT), artificial intelligence(AI), geographic systems, remote sensing, earth engines.
• Under the guidance of Dr. P.G.Patil, Vice Chancellor of MPKV, a foreign tour in Thailand has been organised to train in modern agricultural technology.

About World Bank (WB):
President (WB Group)– Ajay Banga
Establishment – 1944
Headquarters – Washington D.C, United States of America (USA)
Members – 189 member states

REC Signs 200 Million Euro Loan with Germany’s KfW to Reform DISCOMsREC Limited(formerly Rural Electrification Corporation Limited), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP),  has signed a 200 million Euro (approximately Rs. 1,795 crore) loan agreement with KfW Development Bank, Germany, to reform Distribution Companies (DISCOMs) in India.

• This is REC’s sixth line of credit under the Indo-German Development Cooperation.

Attended delegates:
i.The loan agreement was signed in the presence of Wolf Muth, Country Director KfW India.
ii.Other attended delegates include Valli Natarajan, Executive Director(ED) of REC and Carolin Gassner, Director (South Asia) of Kwf.
Key Points:
i.The agreement is in line with the Revamped Distribution Sector Scheme (RDSS).
ii.The collaboration also improves the operational capabilities and financial resilience of DISCOMs.
Revamped Distribution Sector Scheme (RDSS):
i.RDSS is a Reform-based and Result-linked Scheme launched in 2022 under MoP.
ii.The scheme extends for five years starting from financial year 2021-22 (FY22) to FY26.
iii.The scheme provides result-linked financial assistance to DISCOMs for strengthening of supply infrastructure based on meeting pre-qualifying criteria and achieving basic minimum benchmarks.
iv.REC and Power Finance Corporation PFC are nodal agencies to implement RDSS.
About Rural Electrification Corporation (REC) Limited:
i.Rural Electrification Corporation (REC) Limited  is registered with Reserve Bank of India (RBI) as non-banking finance company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC).
Chairman & Managing Director (MD) – Vivek Kumar Dewangan
Headquarters- New Delhi, Delhi
Established in – 1969
About Kwf Development Bank:
Chief Executive Officer (CEO) –  Stefan Wintels
Headquarters – Frankfurt, Germany
Established in – 1948

APPOINTMENTS & RESIGNATIONS

Lalduhoma Sworn in as 6th CM of Mizoram
On 8th December 2023, Lalduhoma (74), Leader of the Zoram People’s Movement (ZPM), was sworn in as the 6th Chief Minister (CM) of Mizoram.
He is also the oldest person to become the CM of Mizoram.

• This is the first time that a party other than the Mizo National Front (MNF) or Indian National Congress (INC) has been voted into power in Mizoram.

Baryl Vanneihsangi becomes youngest woman MLA in Mizoram
In 2023 Mizoram Assembly Election, Baryl Vanneihsangi(32) from Aizawl South-III constituency became the youngest woman Member of Legislative Assembly (MLA) of Mizoram by securing 9,370 votes.
About Mizoram:
Chief Minister – Lalduhoma
Governor – Hari Babu Kambhampati
National Park – Murlen National Park, Phawngpui National Park
Wildlife Sanctuary – Lengteng Wildlife Sanctuary, Ngengpui Wildlife Sanctuary
>> Read Full News

4 Union ministers get additional charge: Arjun Munda Appointed as Agri MinisterOn 7th December 2023, Droupadi Murmu, President of India,  as advised by the Prime Minister (PM) Narendra Modi has given additional charge to 4 Union Ministers. 

• Union Minister Arjun Munda, Ministry of Tribal Affairs (MoTA), has been given additional charge as the Union Minister for the Ministry of Agriculture & Farmers Welfare (MoA&FW). 

Details of the other appointment: 
i.Sushri Shobha Karandlaje, Minister of State(MoS) for MoA&FW was given additional charge of MoS in Ministry of Food Processing Industries (MoFPI).
ii.Rajeev Chandrasekhar, MoS for Ministry of Skill Development and Entrepreneurship (MSDE) and Ministry of Electronics and Information Technology(MeitY) was given additional charge as the  MoS of Ministry of Jal Shakti (MoJS).
iii.Bharti Pravin Pawar, MoS of Ministry of Health and Family Welfare (MoH&FW) was given additional charge as the MoS in MoTA.
Details of Appointed Ministers:

Background: 
Union Ministers Narendra Singh Tomar, MoA&FW; Prahlad Singh Patel, MoS for MoFPI  & MoJS and Renuka Singh Saruta, MoD, MoTA resigned from the parliament after winning respective state legislative assembly election.

• President of India approved the resignation with immediate effect, under clause (2) of Article 75 of the Constitution.

ACQUISITIONS & MERGERS

LIC reduces stake in HDFC Asset Management Company to 6.953% from 9.046%
Mumbai (Maharashtra) based Life Insurance Corporation of India (LIC) has reduced its shareholding in HDFC Asset Management Company (AMC) Limited  from 9.046%  to 6.953% of the paid-up capital.

• LIC’s shareholding in HDFC AMC has reduced from 1,93,11,744 to 1,48,44,466 Equity Shares.
• LIC sold the additional shares of HDFC AMC through Open Market Transaction.

Previously, LIC had acquired an extra 43.27 lakh equity shares, or 2.03 per cent of HDFC AMC in 2022, raising its stake from  7.024% to 9.053%.
About HDFC Asset Management Company (AMC) Limited:
HDFC AMC, registered with the Securities and Exchange Board of India (SEBI), was established in 2000.
MD & CEO – Navneet Munot
Headquarters – Mumbai, Maharashtra

SCIENCE & TECHNOLOGY

China’s CNSA & Egypt’s EGSA Signed an MoU for Space Cooperation & a Cooperation Agreement on ILRSChina and Egypt have signed two cooperation documents in space exploration to boost deep space exploration, spacecraft development and construction of space infrastructure. The 2 documents were,

• A memorandum of understanding (MoU) between the government of China and Egypt on space cooperation and peaceful use of outer space.
• A cooperation agreement between the China National Space Administration (CNSA)  and the Egyptian Space Agency (EGSA) on the International Lunar Research Station (ILRS).

Note: Egypt has became the 1st Arab country to join the ILRS and the 2nd on the African continent to sign up. South Africa joined in ILRS in September 2023.

Key Signatories:
The agreements were signed by Zhang Kejian, Director of CNSA, and Sharif Sedji, Director of EGSA.
Cooperation agreement:
i.The agreement encourages joint efforts in lunar and deep space exploration, spacecraft development and launch, aerospace infrastructure construction, satellite data reception and application, and more.
ii.The area of cooperation spans the joint demonstration and research of ILRS, space missions, ground segments, education, and more.
iii.The agreement signifies a significant step in advancing China-Egypt aerospace science and technology and fostering a comprehensive strategic cooperative partnership.
About ILRS:
i.ILRS operates autonomously on the lunar surface and lunar orbit for a long time, with short-term manned participation, which is expected to begin operations around 2030.
ii.China has established the ILRS Coordination Organization (ILRSCO) to oversee the initiative from the city of Hefei in Anhui province.
Signatories of ILRS:

• Country: China; Belarus; Pakistan; Azerbaijan; Russia; Venezuela; South Africa; Egypt
• Organization: Adriatic Aerospace Association (A3) (Croatia); International Lunar Observatory Association (ILOA, Hawaii)
• Institute & University: National Astronomical Research Institute of Thailand (NARIT); University of Sharjah (United Arab Emirates/UAE)

DARPG launches Scheme and Web-portal for NAeG Awards 2024
On 8th December 2023, the Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry of Personnel, Public Grievances and Pensions launched the web portal (www.nceg.gov.in) for the National Awards for e-Governance (NAeG) 2024.

• NAeG Awards  is one of the most competitive and prestigious digital governance  awards schemes in India. This aims to encourage innovations in successful e-Governance solutions
• The award aims to recognize and promote excellence in implementation of e-Governance initiatives.

i.In 2024, 16 Awards(10 gold and 6 silver) will be conferred under the NAeG 2024. The award includes an incentive of Rs 10 lakh for Gold Awardees and Rs 5 Lakhs for Silver Awardees.
ii.5 Categories of NAeG 2024:

• Government Process re-engineering
• Application of Emerging Technologies for providing Citizen Centric Services
• District level initiative in e-Governance
• Research on Citizen Centric Services by Academic & Research Institutions
• Replication of Top Technological Solutions/initiatives

Note: The last date of submission for the nomination of NAeG 2024 is 29th December 2023.

IMPORTANT DAYS

SAARC Charter Day 2023 – December 8The South Asian Association for Regional Cooperation (SAARC) Charter Day is annually observed on December 8 to mark the adoption of the SAARC Charter on 8th December 1985 in Dhaka, Bangladesh.

• 8th December 2023 marks the observance of the 39th SAARC Charter Day.

About SAARC: 
i.SAARC is an economic and political organization of 8 countries in South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
ii.It was established by the adoption of the SAARC Charter during the first summit held in Dhaka, Bangladesh on 7–8 December 1985.
iii.The SAARC Charter Day has been observed on 8th December since 1985.
About the South Asian Association for Regional Cooperation (SAARC):
Secretary-General– Golam Sarwar (Bangladesh)
SAARC Chairmanship– Nepal
Secretariat– Kathmandu, Nepal
Established in 1985
>> Read Full News

International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of this Crime 2023- December 9The United Nations (UN) International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of this Crime is annually observed across the globe on 9 December to mark the adoption of “Genocide Convention” – the Convention on the Prevention and Punishment of the Crime of Genocide, and to honour the victims of Genocide.

• 9 December 2023 marks the 75th anniversary of adopting the Genocide Convention, the 1st human rights treaty adopted by the UN General Assembly (UNGA).
• Every year the UN Office on Genocide Prevention and Responsibility to Protect organises events to mark this day.

The theme of  the 2023 observance is “A Living Force in World Society: The Legacy of the 1948 Convention on the Prevention and Punishment of the Crime of Genocide.”
Background:
On 11 September 2015, the UNGA adopted the resolution A/RES/69/323 and proclaimed the 9 December of every year as the International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of This Crime.

• The day was first observed on 9th December 2015.

>> Read Full News

Human Rights Day 2023- December 10 The United Nations (UN)’s Human Rights Day also known as International or World Human Rights Day is annually observed across the globe on 10 December to create awareness and mobilise political will to promote respect for rights and freedoms.

• The day marks the anniversary of the adoption of the Universal Declaration of Human Rights (UDHR) in 1948.

2023 marks the 75th anniversary of UDHR, which coincides with the 30th anniversary of the Office of the UN High Commissioner for Human Rights (OHCHR).

• The theme of Human Rights Day 2023 is, “Freedom, Equality and Justice for All.”

Background:
i.On 4 December 1950, the United Nations General Assembly (UNGA) adopted the resolution A/RES/423(V) and proclaimed the 10 December of every year as Human Rights Day.
ii.The 1st UN Human Rights Day was observed on 10 December 1950.
About United Nations Human Rights Council (UNHRC):
UNHRC is an intergovernmental body within the UN system whose mission is to promote and protect human rights around the world and has 47 members.
President– Václav Bálek
Headquarters– Geneva, Switzerland
Founded in– 2006
>> Read Full News

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