Current Affairs Quiz: 17 & 18 December 2023

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1. According to the International Energy Agency (IEA) report titled ‘Coal 2023-Analysis and forecast to 2026‘released in December 2023, Indian coal demand is expected to rise by ___________ annually to 1397 million tonnes (Mt) til 2026.
   1) 4.0%
   2) 3.5%
   3) 3.0%
   4) 4.2%
   5) 3.7%
   

   Answer & Explanation

   Answer-2) 3.5% 
   Explanation:
   According to the International Energy Agency (IEA) report titled ‘Coal 2023-Analysis and forecast to 2026‘, Indian coal demand is expected to rise by 3.5% annually to 1397 million tonnes (Mt) til 2026. In 2023, the coal demand in India is estimated to have increased by 8% or 98 Mt.
    The global demand for coal will rise by 1.4% in 2023, reaching an all time high of about 8536 Mt. The global coal consumption in 2026 is expected to be 2.3% lower than in 2023, in the absence of governments announcing and implementing stronger clean energy and climate policies.
    In 2022, coal demand reached a new record high of 8 415 Mt, increasing by 4%.
    China, India and Indonesia  are the three largest coal producers globally in 2023. They account for more than 70% of the world’s coal production.
    In absolute terms, coal demand in 2023 is estimated to have increased most strongly in China (up 220 Mt, or 4.9%), followed by India (up 98 Mt, or 8%) and Indonesia (up 23 Mt, or 11%).
    The largest declines are expected in the European Union (down 107 Mt, or 23%) and the United States (down 95 Mt, or 21%),
    India aims for 50% non-fossil fuel power by 2030 but may need extra coal capacity to meet growing demand and ensure supply security.
    India’s National Electricity Plan aims to add 19-27 GW (Giga Watt) of coal capacity by 2027. With this, the Coal consumption grows by 2.4% in the next three years; renewables increase by 12% annually.
   
   
   
2. Which company has recently (in Dec ‘23) signed a Rs 5,336.25 crore contract with the Ministry of Defence (MoD) to procure electronic fuzes for the Indian Army (IA)?
   1) Hindustan Aeronautics Limited
   2) Bharat Heavy Electricals Limited
   3) Electronics Corporation of India Limited
   4) MTAR Technologies Limited
   5) Bharat Electronics Limited
   

   Answer & Explanation

   Answer-5) Bharat Electronics Limited
   Explanation:
   On December 15, 2023, the Ministry of Defence (MoD) signed a 10-year contract worth Rs 5,336.25 crore with Bharat Electronics Limited (BEL) to procure electronic fuzes for the Indian Army (IA).
   i. This contract has been signed for ammunition procurement under ‘Manufacture of Ammunition for Indian Army by Indian Industry’ as a part of Aatmanirbhar Bharat vision.
   ii. Electronic Fuzes will be manufactured by the BEL at its Pune, Maharashtra and upcoming Nagpur Plant, Maharashtra.
   iii. Aim: To attain self-sufficiency in ammunition production, minimize imports, acquire critical technologies, and secure stock during supply chain disruptions.
   
   
   
3. Which bank, along with the Indian Institute of Technology, Kanpur (IIT-K) has recently (in Dec ‘23) launched India’s first fully integrated school of sustainability?
   1) YES Bank
   2) ICICI Bank
   3) Axis Bank
   4) HDFC Bank
   5) Kotak Mahindra Bank
   

   Answer & Explanation

   Answer-5) Kotak Mahindra Bank
   Explanation:
   Kotak Mahindra Bank Limited (KMBL) and the Indian Institute of Technology, Kanpur(IIT-K) in Uttar Pradesh(UP), has launched “Kotak School of Sustainability (KSS)”, India’s first fully integrated school of sustainability, at IIT-K Campus.
    KSS is funded by KMBL through their Corporate Social Responsibility (CSR) programme ‘Kotak Karma’.
   i. Aim: To promote pedigree education, research, and outreach by focusing on enhancing home-grown capabilities to address sustainable development.
   ii. Cost: The total project cost is around Rs 200 crore. Kotak will be contributing Rs 70 crore in the first phase.
   iii. The KSS will be housed in a green building in IIT-K’s main campus. It will be platinum-rated with net zero practices on energy, water, and waste.
   
   
   
4. In December 2023, the Government of India (GoI) announced the opening of Sovereign Gold Bonds (SGBs) 2023-24 (Series III) for subscription during the period December 18-22, 2023.
   The issue price during the subscription period shall be Rs. _________ per gram.
   1) 5,423
   2) 7,212
   3) 4,278
   4) 6,199
   5) 3,246
   

   Answer & Explanation

   Answer-4) 6,199
   Explanation:
   The Government of India (GoI), under Notification No.4(6)-B(W&M)/2023 dated December 8, 2023, announces the opening of Sovereign Gold Bonds (SGBs) 2023-24 (Series III) for subscription during the period December 18-22, 2023 with Settlement date December 28, 2023.
    The issue price during the subscription period shall be Rs.6,199 per gram (as per the Reserve Bank of India (RBI) Press Release dated December 15, 2023).
   i. The Government of India in consultation with the RBI has decided to allow a discount of Rs. 50 per gram to investors applying online and making payments through digital mode.
   ii. The issue price of Gold Bond for such investors will be Rs. 6,149 per gram.
   
   
   
5. Which of the following points is/are “correct” with respect to the Public Sector Banks (PSBs) and Scheduled Commercial Banks (SCBs) of India, as of December 2023?
   A) The Public Sector Banks (PSBs) have recovered Rs 1.61 lakh crore out of the Rs 10.42 lakh crore written off during the 9 fiscal years from 2014-15 to 2022-23.
   B) The recovered amount accounts for around 15.45% of the total written-off amount.
   C)  Scheduled Commercial Banks (SCBs) have collectively written off Rs 10.57 lakh crore over the past 5 financial years spanning from 2018-19 to FY 2022-23.
   1) Only A
   2) Only A & B
   3) Only B & C
   4) Only A & C
   5) All A, B & C
   

   Answer & Explanation

   Answer- 5) All A, B & C
   Explanation:
   The Public Sector Banks (PSBs) have recovered Rs 1.61 lakh crore out of the Rs 10.42 lakh crore written off during the 9 fiscal years from 2014-15 to 2022-23.
    The recovered amount accounts for around 15.45% of the total written-off amount.
    PSBs could not recover even Re 1 as against Rs 5 written-off during 9 fiscal years starting 2014-15.
   i. Scheduled Commercial Banks (SCBs) have collectively written off Rs 10.57 lakh crore over the past 5 financial years spanning from 2018-19 to FY 2022-23.
    Over Rs 5.52 lakh crore was allocated to loans linked to large industries. This also includes Rs 93,874 crore written off by all banks due to fraud during this period.
    During this period, SCBs have recovered Rs 7.15 lakh crore from NPAs.
   Note: In FY23, SCBs have collected an aggregate amount of Rs 5,309.80 crore as penal charges, including penalty charges against delay in payment of loans.
   
   
   
6. India’s Index of Industrial Production (IIP) has increased to a 16-month high of __________ year on year (YoY) in October 2023 compared to 6.2% YoY growth in September 2023.
   1) 7.2%
   2) 11.7%
   3) 8.3%
   4) 9.3%
   5) 10.6%
   

   Answer & Explanation

   Answer-2) 11.7%
   Explanation:
   India’s Index of Industrial Production (IIP) has increased to a 16-month high, marking an 11.7% year on year (YoY) increase, in October 2023 compared to 6.2% YoY growth in September 2023.
   i. This was mainly due to the robust performances in the manufacturing (10.4%), electricity (20.4%), and mining (13.1%) sectors’ output.
   ii. The robust industrial growth contributes to a positive outlook for 2023-24 Gross Domestic Product (GDP). The 1st advance estimates of GDP data are anticipated on 5 January 2024, ahead of the Interim Budget for FY25.
   iii. In contrast, the retail inflation, based on the Consumer Price Index (CPI), has increased to a 3-month high of 5.55% in November 2023,  partly because of a seasonal spike in vegetable prices.
   
   
   
7. Who has been recently (in Dec ‘23) sworn in as the 14th Chief minister (CM) of Rajasthan?
   1) Ashok Gehlot
   2) Mohan Yadav
   3) Vishnu Deo Sai
   4) Bhajan Lal Sharma
   5) Revanth Reddy
   

   Answer & Explanation

   Answer-4) Bhajan Lal Sharma
   Explanation:
   Bhajan Lal Sharma of the Bharatiya Janata Party (BJP), a 1st-time Member of the Legislative Assembly (MLA) elected from the Sanganer Constituency, sworn in as the 14th Chief Minister (CM) of Rajasthan.
    Rajasthan Governor Kalraj Mishra administered oath of office and secrecy to Bhajan Lal Sharma in the event held in Jaipur, Rajasthan.
    Bhajan Lal Sharma replaced Indian National Congress (INC) leader Ashok Gehlot, who served as the CM of Rajasthan for 3 terms from 1998-2003, 2008-2013, and 2018-2023.
    Divya Kumari and Prem Chand Bairwa were sworn in as the Deputy CMs of Rajasthan during the event.
    Vasudev Devnani has been appointed as the speaker of Rajasthan State Assembly.
   
   
   
8. Which company has recently (in Dec ‘23) collaborated with France-based Merio to make Advanced Gimbals for the Indian armed forces?
   1)  SrishtiRobotics Technologies Private Limited
   2) Rapyuta Robotics Private Limited
   3) NAVA Design & Innovation Private Limited
   4) Precision Automation & Robotics India Private Limited
   5) HC Robotics Private Limited
   

   Answer & Explanation

   Answer-5) HC Robotics Private Limited
   Explanation:
   Hyderabad(Telangana)-based HC Robotics Private Limited is set to collaborate with the France-based Merio, specialised in UAV(Unmanned Aerial Vehicle) payload systems, to make Advanced Gimbals for the Indian armed forces.
   i. A high-level delegation led by Remi Plenet, Chief Executive Officer (CEO) of Merio, met with Sridhar Babu, Minister for Industries and Information Technology, Telangana to explain Merio’s plan to build new technologies in Hyderabad.
   ii. The delegation has met officials of the Defence Ministry, and Air Force Chief, and visited Western Naval Command and Indian Coast Guard, etc focusing on developing advanced gimbals in collaboration with HC Robotics.
   
   
   
9. Name the personality from India who has recently (in Dec ‘23) named as the United World Wrestling’s (UWW) Rising Stars of the Year 2023 in Women’s Wrestling Category.
   1) Antim Panghal
   2) Vinesh Phogat
   3) Savita Dalal
   4) Sonam Malik
   5) Sarita Mor
   

   Answer & Explanation

   Answer-1) Antim Panghal
   Explanation:
   India’s Antim Panghal, Georgios Kougioumtsidis (Greece), and Hasrat Jafarov(Azerbaijan) have been named as United World Wrestling’s (UWW) Rising Stars of the Year 2023 in Women’s Wrestling, Freestyle, and Greco-Roman respectively.
   i. Iszmail Muszukajev (Hungary), Bose Tosun (Türkiye), and Gabriel Rosillo (Cuba) have been named UWW’s Breakout Performances of the Year 2023 in Freestyle, Women’s Wrestling, and Greco-Roman respectively.
   
   
   
10. The ____________Vijay Diwas was observed across India and Bangladesh on 16 December 2023.
    1) 54th
    2) 50th
    3) 53rd
    4) 55th
    5) 51st
    

    Answer & Explanation

    Answer-3) 53rd
    Explanation:
    Vijay Diwas, or Victory Day(Bijoy Dibos), is annually observed across India and Bangladesh on 16 December to celebrate the historic victory of Indian armed forces against Pakistan in the 1971 Indo-Pak war (India – Pakistan War of 1971).
     The Day also pays tributes to the martyrs of both India and Bangladesh, who lost their lives on the line during the war.
    i. 16th December 2023 marks the celebration of the 53rd Vijay Diwas.
    ii. Bijoy Dibos, celebrated on December 16, is a national holiday in Bangladesh and the Day commemorates the formal surrender of the Pakistani Armed Forces to the joint Indian and Mukti Bahini (Bangladeshi liberation forces) in Dhaka (now Bangladesh) during the Bangladesh Liberation War in 1971.
    iii. As a part of 53rd Vijay Diwas, the Southern Command of the Indian Army organised a 53-hour Ultra Marathon at Pune’s(Maharashtra) Race Course.
    iv. 24 participants have embarked on a 53-hour Ultra Marathon, which commenced on 14 December 2023 and concluded on 16 December 2023.