Current Affairs 8 December 2023

We are here for you to provide the important Recent and Latest Current Affairs 8 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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INTERNATIONAL AFFAIRS

Union Minister Nirmala Sitharaman & 3 other Indians featured on Forbes’ 2023 World’s 100 Most Powerful WomenThe 20th annual ranking of the World’s 100 Most Powerful Women (2023)  features a total of 4 Indian women. Union Minister Nirmala Sitharaman, Ministry of Finance and Corporate Affairs is ranked 32nd on the list.

• The other 3 Indians are Roshni Nadar Malhotra(rank 60), Chairperson of HCLTech; Soma Mondal(rank 70), former Chairperson of Steel Authority of India Limited(SAIL) and Kiran Mazumdar-Shaw(rank 76),  Founder and Executive Chairperson of Biocon India Private Limited.
• Ursula vonder Leyen, the President of the European Commission, European Union (EU) topped the list for the second consecutive year.

Other Key Rankings:
i.Christine Lagarde the President of the European Central Bank is ranked 2nd whereas Kamala Harris, Vice President(VP) of the United States of America (USA) ranked 3rd in the list.
ii.Barbie is ranked 100th on the list under the category “Media & Entertainment” and became the first ever fictional character to feature on the list.

• Annually, the rank 100 is allocated to a figure that’s not the traditional image of power but symbolically influential for the year.

iii.American Singer and Songwriter Taylor Swift is ranked 5th on the list. She became the first woman from the entertainment industry to rank among the top 5 on the list.
Top 3 Rankings along with Indian women:

Key Points:
i.Nirmala Sitharaman was the first woman to be appointed full-time Defence Minister of India in September 2017.

• In 2019, She was appointed as the first full-time female Finance Minister of India.
• Previously, she was ranked 36th in 2022, 37th in 2021, 41st in 2020, and 34th in 2019 on the list.

ii.Kiran Mazumdar-Shaw is one of India’s richest self-made women with a net worth of USD 2.3 billion. Biocon founded in 1978 has Asia’s largest insulin factory in Malaysia’s Johor region.
iii.Roshni Nadar Malhotra is the Chief Executive Officer (CEO) of HCL Corporation and Chairperson of HCL Technologies. She is the first woman to head a listed Indian IT company.

• She is also a trustee of the Shiv Nadar Foundation, focused on education.

iv.Soma Mondal served as the chairperson of SAIL, central public sector undertaking(CPSU) under the Ministry of Steel, from January 2021 to April 2023.

• She is currently a member of the Public Enterprises Selection Board (PESB).

About the list:
i.The list ranks the inspirational female CEOs, entertainers, politicians, philanthropists and policymakers making a life-changing impact on the world.
ii.The rankings are based on money, media presence, impact, and spheres of influence.

University of Delhi ranked 220th on QS World University Ranking for Sustainability 2024; University of Toronto topsAccording to the QS World University Rankings: Sustainability 2024, the 2nd edition of the list published by Quacquarelli Symonds(QS), a global higher education analyst, the University of Delhi (DU), ranked 220th (globally), has topped among the 56 Indian Universities featured on the list.

• DU is ranked 30th among Asian Universities.
• The University of Toronto, Canada, has topped the list as the world’s most sustainable University followed by the University of California (UCB), Berkeley, the United States of America(USA) at 2nd and the University of Manchester, the United Kingdom (UK) at 3rd place.

About QS (Quacquarelli Symonds):
Founder and President– Nunzio Quacquarelli
Headquarters– London, United Kingdom (UK)
>> Read Full News

WHO Report: India Accounted for 66% of Malaria Cases in WHO South-East Asia Region in 2022As per the 2023 World Malaria Report  by the World Health Organization (WHO), India constituted 66% of malaria cases in the WHO’s South-East Asia region in 2022. Despite an overall decrease of 11.9% in estimated cases between 2021 and 2022 in the region, Bangladesh, Indonesia, Myanmar and Thailand recorded an increases in cases.
i.Plasmodium vivax(P. vivax), a protozoal parasite, contributed to almost 46% of cases in the region.
ii.Notably, India and Indonesia accounted for about 94% of all malaria deaths in South-East Asia region in 2022.
iii.Around 249 million malaria cases have been reported around the world(in 85 malaria endemic countries and areas) which exceeded the pre-pandemic count of 233 million in 2019.
About World Health Organisation (WHO):
Director General – Tedros Adhanom Ghebreyesus
Headquarters – Geneva, Switzerland
Establishment– 1948
>> Read Full News

BANKING & FINANCE

AIIB, UNDP Signed MoU for Promoting Sustainable Infrastructure DevelopmentThe Asian Infrastructure Investment Bank (AIIB) has signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) to promote sustainable infrastructure development and address development challenges in Asia and beyond.

• The MoU recognises the shared objectives of AIIB and UNDP in supporting national climate goals and the 2030 Agenda through financing sustainable development initiatives in common members of operations.

Signatories: 
The MoU was signed by Achim Steiner, UNDP Administrator, and Jin Liqun, AIIB President and Chair of the Board of Directors.

• The MoU was signed at the 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC), being held in Dubai, United Arab Emirates (UAE) from 30 November to 12 December 2023.

About the Partnership:
i.Under this partnership, AIIB will leverage its respective strengths and resources to drive positive change and make a lasting impact on the lives of people in Asia and beyond.
ii.With this partnership, UNDP can unlock new opportunities for financing sustainable development projects and promote innovative solutions that address pressing global challenges.
iii.Under the MoU, AIIB, and UNDP will:

• Plan to co-invest and leverage multilateral funding and private financing in developing countries;
• Collaborate on measuring the impact of investments on climate goals and Sustainable Development Goals (SDGs); and
• Pursue joint technical assistance and explore innovative de-risking instruments, knowledge sharing, joint advocacy, and policy support work.

Note: AIIB, Headquartered in Beijing, China, is a multilateral development bank focusing on financing sustainable infrastructure for a better future.
About United Nations Development Programme (UNDP):
Administrator– Achim Steiner
Headquarters– New York, United States of America (USA)
Established in– 1966

ECONOMY & BUSINESS

Bharat Electronics Limited Receives orders worth Rs. 3,915 Crore
The Bharat Electronics Limited (BEL), a Navratna Public Sector Undertaking (PSU), has received multiple orders worth Rs. 3,915 crore for the supply of various defense equipment.

• It received an order worth Rs 580 crore from the Indian Army for supplying an artificial magnetic conductor (AMC) of radars.
• It also received the orders worth Rs 3,335 crore since its last disclosure on September 15, 2023. The orders include AMC for an Airborne Early Warning & Control (AEW&C)system, Uncooled TI (thermal imager) sights, Software-Defined Radios, SWIR (Shortwave Infrared) payload, AMC for the IACCS (Integrated Air Command and Control System), and Passive Night Vision Binoculars.

CII Projected India’s GDP to Grow at 6.8%
Confederation of Indian Industry (CII) has projected the India’s Gross Domestic Product (GDP) to grow at 6.8 % in Financial Year 2023-24 (FY24) supported by infrastructure development and promotion of ease of doing business.

• The projected economic growth is higher than earlier projection of  6.5-6.7% which was made in June 2023.
• CII also projected that the growth will further accelerate to 7% in FY25.

Note: Indian economy recorded a growth of 7.7% in the first half(H1) of FY24
About Confederation of Indian Industry (CII):
Director General – Chandrajit Banerjee
Headquarters – New Delhi, Delhi
Established in – 1895

AWARDS & RECOGNITIONS

Rex Karmaveer Global Fellowship (RKGF) 2023-24 and Chakra Awards Presented at the 12th Edition of the annual REX CONCLiVE Rex Karmaveer Global Fellowship (RKGF) 2023-24 and the most prestigious and inclusive Karmaveer Chakra Medal were presented to people who have innovative ideas which may make a difference to the world.

• The awards are instituted by the International Confederation of Non-Governmental Organisation (iCONGO) in association with the United Nations (UN).
• The awards were presented during the 12th Edition of the annual REX CONCLiVE and Karmaveer Chakra Award event at Shri Nadar School, Faridabad, Haryana.

Rex Karmaveer Chakra Medal:
i.The Rex Karmaveer Chakra Medal is a global civilian honour that recognises people who have made outstanding contributions to humanity.
ii.The award was instituted in partnership with the UN to encourage proactive citizenship.
iii.3 Tiers of Karmaveer Chakra:
Recognising outstanding contributions in activism, education, volunteering, and healthcare, the Karmaveer Chakra comes in 3 tiers: Gold, Silver and Bronze
2023 Awardees of Rex Karmaveer Global Fellowship & Chakra Awards:
GOLD: 
Rumana Sinha Sehgal, the founder of Serendipity and Mentor at T-Hub (Technology Hub), was honoured with the RKGF 2023-24 and Chakra (Gold) medal.

• In 2019, she received the Karamveer Chakra Silver medal.

SILVER:

• Maihursa Boro, a first-generation social entrepreneur and education entrepreneur from Assam, has been honoured with the RKGF 2023-24 and Chakra Award (Silver) Medal.
• Kalyan Srinivas Raygalla of Hyderabad (Telangana) was honoured with the RKGF 2023-24 and Chakra Award (Silver) Medal.
• Deepak Sharma received the REX Karmaveer Chakra (Silver) Award.

BRONZE:
Narayanappa, a marginal farmer of the Andhra Pradesh Community-Managed Natural Farming (APCNF) programme from Andhra Pradesh, was honoured with the RKGF 2023-24 and Chakra Award (Bronze) Medal.
Other Awardees:
i.Dr. Hemachandran Ravikumar, an Indian scientist, and Doctor of Medicine by profession was honoured for his exceptional contributions to Research and Development (R&D) in Physical and Bio-Science and Microbiological Studies.
ii.Ramniet S Mukherjee, a dynamic human rights activist, founder of HI-Helping India Trust from the Union Territory Chandigarh and capital of Punjab and Haryana.
iii.Goa’s acclaimed percussionist Carlos Gonsalves has been awarded the Rex Karmaveer Jyoti award in recognition of his services in the music field.
UNV Karamveer Chakra:
i.Sikkimese fashion designer and social entrepreneur Omi Gurung was awarded the UN Volunteer (UNV) Karmaveer Chakra (Gold) at the 12th REX CONCLiVE.

• He was awarded for his outstanding contribution towards sustainable fashion and proactively creating awareness about climate change in the world.
• Previously, he had recieved the UN Karamveer Chakra (Silver) Award in 2019.
• He is the first person from Sikkim to receive both the gold and silver UN Karmaveer Chakra /awards.

Karmaveer Chakra, Instituted in 2008-09 by the Indian Confederation of NGOs (iCONGO) in association with the UN, is the national medallion for proactive voluntary action to Be the Change.

APPOINTMENTS & RESIGNATIONS

10 BJP MPs Including 2 Minister resigned from Parliament After winning State Elections10 Bharatiya Janata Party (BJP) Members of Parliament (MPs) including Union Minister Narendra Singh Tomar, Ministry of Agriculture and Farmers Welfare (MoA&FW) and  Minister of State (MoS) Prahlad Singh Patel, Ministry of Food Processing Industries (MoFPI), have resigned from the Parliament after winning the respective state assembly elections. Prahlad Singh Patel also holds charge as the MoS for Minitry of Jal Shakti.
Details of 10 MPs who have resigned from the Parliament: 

Background:
i.BJP had fielded 21 of its MPs in the Assembly polls – 7 each in Madhya Pradesh, and Rajasthan, 4 in Chhattisgarh, and 3 in Telangana.
ii.A total of 12 BJP MPs have won the state assembly election in Rajasthan, Madhya Pradesh, and Chhattisgarh. 10 among them have submitted their resignation.
iii.The decision to resign as MPs was taken after a meeting with BJP  president Jagat Prakash (JP) Nadda and Prime Minister of India Narendra Modi.
Note: The 2 other BJP MPs: Baba Balaknath, Lok Sabha MP from Rajasthan; and MoS Renuka Singh, Ministry of Tribal Affairs (MoTA), who won from Chhattisgarh, are yet to submit their resignation.
Points to note:
As per the provisions of the Prevention of Simultaneous Membership Rule issued by the president in 1950 under Article 101 of the Constitution, MPs who contested the assembly polls and won will have to quit one of the seats in the next 14 days, otherwise they lose their Parliament membership.

• After resignation they can continue as member of the state legislative assembly.

ACQUISITIONS & MERGERS

Govt to sell 8% stake in IRCON International through OFS
The government of India has proposed to sell 8% stake in Ircon International Limited (IRCON), a Navratna Central Public Sector Unit (CPSU) under the Ministry of Railways (MoR), through an offer for sale (OFS).
Key Points:
i.As of September 2023, the government holds 73.18% stake in IRCON.
ii.Initially, the government will sell 3.76 crore shares at Rs.2 per share (representing a 4% stake) through the OFS and the additional 4% will be sold if the offer is oversubscribed.
Details of IRCON OFS: 
I.The offer will take place on a separate window of the stock exchanges under the T+1 period.
ii.The offer will take place on December 7, 2023 (T Day) and continue till the next day(8th December 2023).
iii.OFS is open for Non-retail investors on 07th December 2023 (T day).
The retail investors can participate in the OFS on 08th December 2023 (T+1).
iv.The unallocated bids of non-retail investors can be carried forward to T+1 for allocation in the unsubscribed portion of the retail category.
Floor price:
i.The floor price for the sale has been set at Rs 154 a share. This is ~10% discount to the last traded price.
ii.The allocation will be at or above the floor price on price priority basis. However, retail investors have an option to bid at or above the cut-off price.
Reservation:
i.About 10% of the offer is reserved for retail investors.

• If the retail category is undersubscribed, then these shares will be assigned to non-retail investors who opted to carry forward their unallotted bids to T+1 day.

ii.Another 0.5% of the offer is reserved for employees. These employee shares will be issued at the retail category’s cut-off price.
iii.A minimum of 25% of the offered shares is reserved for mutual funds and insurance companies. In case of undersubscription, the unsubscribed portion will be available to other bidders in the non-retail category.
Brokers:
IDBI Capital Markets & Securities Limited, Bank of Baroda Capital Markets Limited, and Yes Securities (India) Limited (YSL) are brokers to the proposed OFS.
Additional Info:
i.Retail Investors are any individual or non-professional investor who buys and sells securities in stock exchanges.
ii.Non-Retail Investor are the entities which manage money on behalf of others, such as pension funds, mutual funds, and hedge funds.
About Ircon International Limited (IRCON):
IRCON was established in 1976 as Indian Railway Construction Company Limited.
Chairman & Managing Director(CMD)– Brijesh Kumar Gupta (Additional charge)
Headquarters – New Delhi, Delhi

Ambuja Cements Completes Acquisition of Sanghi Industries, at Rs 5,185 crAdani Group-owned Ambuja Cements Limited (ACL) completed the acquisition of Gujarat-based Sanghi Industries Limited (SIL) at an enterprise value of Rs 5,185 crore by holding a controlling stake of 54.51%.

• The acquisition will be fully funded through internal accruals.
• The deal will boost Ambuja Cements’ capacity to 74.6 million tonnes per annum (MTPA) from 68.5 MTPA .

About the Acquisition:
i.ACL bought about 141 million shares of SIL.

• Each share is priced at Rs. 121.9 by the Promoters.

ii.Whereas, 7.3 million shares of SIL were bought through off-market trade.
iii.This acquisition will increase the cement capacity of ACL to 15 MTPA along the West Coast on the strength of SIL’s low-cost clinker.
Offerings:
i.The deal offers low-cost  debottle necking, with total clinker capacity of 6.6 MTPA, cement capacity of 6.1 MTPA and 1 billion tonnes of limestone reserves to Adani Group.
ii.SIL  also offers potential for green power generation, reaching up to 45%, incorporating an additional 12 MegaWatt (MW) Waste Heat Recovery Systems (WHRS) and 30 MW of Solar/Wind power.
Additional Funding:
i.SIL also borrowed additional funds not exceeding Rs 1,810 crore from ACL to repay outstanding amounts.
ii.The fund was received after amending Inter Corporate Deposit (ICD) agreement with Ambuja Cements.
Additional Info:
i.Ambuja Cements plans to invest in expanding the Sanghipuram (Gujarat) captive port to accommodate larger vessels.

• This project is expected to be completed within the next 30 months.

ii.Sanghipuram unit is India’s largest single-location cement and clinker production facility.

Enemy Properties Shares Worth Rs 2709 crore Disposed through e-auction
The enemy property shares worth Rs 2709 crore were sold by the Government of India as part of its initiative to dispose the enemy properties in India.

• The enemy properties are the assets left behind by people who have taken citizenship of Pakistan and China, mostly between 1947 and 1962.
• On September 2023, 19 enemy properties in Uttar Pradesh were disposed of by way of sale through e-auction.
• As of December 2023, a total of 12,611 enemy properties (12,485 were related to Pakistanis and 126 to Chinese) were vested with the Custodian of Enemy Property for India (CEPI), a statutory authority under the provisions of the Enemy Property Act (1968).
• The proceeds of the sale or disposal of enemy property, such as shares, are deposited into the Consolidated Fund of India(Constituted under Article 266 of the Indian Constitution).

SCIENCE & TECHNOLOGY

Google Launches its largest and most capable AI Model ‘Gemini’Google launched its largest and most capable multimodal Artificial intelligence (AI) model, ‘Gemini’, which comes in three sizes: Gemini Ultra, Gemini Pro, and Gemini Nano.
Variants of Gemini:
Gemini Ultra: The largest and most capable model for highly complex tasks

• Gemini Ultra is the first model to outperform human experts on MMLU (massive multitask language understanding) with a score of 90.0%.
• MMLU uses a combination of 57 subjects, such as math, physics, history, law, medicine, and ethics, to test both world knowledge and problem-solving abilities.
• Gemini Ultra’s performance exceeds current state-of-the-art results on 30 of the 32 widely-used academic benchmarks used in large language model (LLM) research and development.

ii.Gemini Pro: The best model for scaling across a wide range of tasks

• Google Bard integrated with Gemini Pro for more advanced reasoning, planning, and understanding.

iii.Gemini Nano: The most efficient model for on-device tasks

• It is expected to launch Bard Advanced with Gemini Ultra in early 2024.

How it can be useful?
i.The companies and enterprises will use the new AI model for the following:

• Advanced customer service engagement through chatbots and product recommendations
• To identify trends for companies looking to advertise products
• To create content for marketing campaigns or blogs
• To summarize meetings or generate code for developers

Availability of Gemini:
i.From 13th December 2023, developers and enterprise customers can access Gemini Pro through the Gemini API(Application Programming Interface) in Google AI Studio or Google Cloud Vertex AI.
ii.Android developers will also be able to build with Gemini Nano via AICore, a new system capability available in Android 14, starting on Pixel 8 Pro devices.
About Google:
Chief Executive Officer(CEO) – Sundar Pichai
Headquarters -California, United States of America(USA)
Established – 1998

IMPORTANT DAYS

International Civil Aviation Day 2023- December 7The United Nations (UN) International Civil Aviation Day is annually observed across the globe on 7 December to create awareness about the importance of international civil aviation and its role in the social and economic development of a country.

• The day also highlights the role of the International Civil Aviation Organisation (ICAO), a UN agency, in helping countries to cooperate and realise a truly global rapid transit network at the service of all mankind.

The 2023 theme of International Civil Aviation Day is “Advancing Innovation for Global Aviation Development”.
Background:
i.International Civil Aviation Day was established in 1994 as part of ICAO’s 50th anniversary activities.
ii.In 1996, under an ICAO initiative and with the assistance of the Canadian Government, the United Nations General Assembly (UNGA) adopted the resolution A/RES/51/33 and proclaimed the 7 December of every year as International Civil Aviation Day in the UN system.
About International Civil Aviation Organization (ICAO):
ICAO is funded and directed by 193 national governments (Member states) to support their diplomacy and cooperation in air transport as signatory states to the Chicago Convention (1944).
Secretary General– Juan Carlos Salazar (Colombia)
Headquarters– Montreal, Canada
>> Read Full News

Armed Forces Flag Day 2023- December 07 Armed Forces Flag Day (AFFD) is annually observed across the globe on 7 December to honour the martyrs, men, and women in the armed forces who bravely fought and continue to fight on the borders to safeguard the country’s honour.

• Flag Day emphasise the dedication to looking after the war-disabled soldiers, Veer Naris, and the families of Martyrs who have sacrificed their lives for the country.

Background:
i.A committee was set up on 28 August 1949 under the then Defence Minister Baldev Singh. The committee recommended observing Flag Day annually on December 7.
ii.The 1st Armed Forces Flag Day was observed on 7 December 1949.
About Indian Army:
Chief of the Army Staff– General Manoj Pande
Motto– ‘Seva Paramo Dharma’
>> Read Full News

STATE NEWS

Odisha CM Launches ‘AMA bank’ Scheme to Provide Banking Service in Unbanked  Gram PanchayatsChief Minister (CM) of Odisha Naveen Patnaik has launched “AMA Bank” scheme for providing banking services through Customer Service Point (CSP) Plus banking outlets in 4373 unbanked Gram Panchayats (GPs) in Odisha.

• Ama Bank model is the first-of-its-kind financial inclusion programme in India.

About Ama Bank Scheme:
i.Ama Bank offers credit for small businesses along with 15 banking services through CSP Plus banking outlets.

• It is positioned between a business correspondent (BC) and a small bank branch and offers all banking services.

ii.The bank also offers doorstep services to the elderly, differently-abled persons and pregnant women.
iii.The scheme was launched in collaboration with six public sector banks (PSBs) namely State Bank of India (SBI), Punjab National Bank (PNB), Union Bank of India (UBI), UCO Bank, Bank of India (BoI) and Bank of Baroda(BoB).
iv.As part of the scheme, the Government of Odisha will provide rent-free banking space for 5 years along with bearing one-time expenses for fixed costs and recurring expenses for three years.
v.It was launched with a budget of about Rs 500 crore.
vi.The scheme will be implemented in a phased manner, with the first phase covering 750 GPs and the remaining GPs will be covered by March 2024.
vii.The scheme is in alignment with Odisha’s 5T initiative.
Why is the scheme introduced?
Around 65% of Odisha’s 6,798 gram panchayats lack physical bank branches, creating challenges for residents to access essential banking services and receive government benefits through the Direct Benefit Transfer (DBT) schemes.
5T initiative:
i.The 5T initiative is a governance model in Odisha that stands for Teamwork, Transparency, Technology, Time, and Transformation.
ii.In 2022, a sixth “T” representing ‘Tour’ was added to the initiative.
About Odisha:
Chief Minister – Naveen Patnaik
Governor – Raghubar Das
Wildlife Sanctuary – Lakhari Valley Sanctuary, Karlapat Sanctuary
Tiger Reserve – Similipal Tiger Reserve, Satkosia Tiger Reserve

Gujarat & AAI signed a MoU to develop airports in Gujarat
A Memorandum of Understanding (MoU) was signed between the Civil Aviation Department of the Government of Gujarat and the Airport Authority of India (AAI) for the advancement of airports in Gujarat.

• Under this MoU, AAI will advance the establishment of 11 proposed greenfield airports, and evaluate their technical feasibility and the availability of land.
• The MoU was signed in the presence of Bhupendra Patel, Chief Minister(CM) of Gujarat and Union Minister Balwantsinh Rajput, Ministry of Civil Aviation (MoCA).

Airports Location:
11 locations of Gujarat earmarked for the development of airports are Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira, and Palitana.

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