Daily Current Affairs December 15 2023 | Latest News | Download PDF

By rihana rihana - Dec 15 2023

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CURRENT AFFAIRS : BANKING & FINANCE

RBI Increases Unified Payments Interface Automatic Payment Limit to Rs 1 Lakh                                           

  • The Reserve Bank of India (RBI) increased the limit for automatic payments through Unified Payments Interface (UPI) to Rs 1 lakh per transaction from the existing Rs 15,000 for certain categories, including subscription to mutual funds.
  • As of now, relaxation in Additional Factor of Authentication (AFA) is permitted while processing e-mandates/standing instructions on cards, prepaid payment instruments and UPI (Unified Payments Interface), for subsequent recurring transactions with values up to Rs 15,000.
  • UPI has emerged as a preferred mode of payment for a large section of the population with over 11.23 billion transactions recorded in November, 2023.

About RBI :

  • Established : 1 April 1935
  • Headquarters : Mumbai, Maharashtra, India
  • Governor : Shaktikanta Das
  • Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

Poonawalla Housing Finance undergoes rebranding, emerges as Grihum Housing Finance

  • Following a change in ownership, Poonawalla Housing Finance has been rebranded as Grihum Housing Finance with global private equity firm TPG now holding 99.02 per cent stake in the housing finance company.
  • Before being promoted by Poonawalla Fincorp, the housing financier was a part of the Magma Group.

Key Highlights :

  • The new name, Grihum, is a fusion of ‘Grih’ (home) and ‘Hum’ (togetherness), reflecting the company’s commitment to fostering collaboration and unity.
  • Grihum Housing Finance is dedicated to creating the cherished space of a ‘Dream Home’ for its customers, a significant portion of whom are self-made individuals and micro-entrepreneurs in semi-urban, peri-urban, and rural regions, constituting 62% of the business from the self-employed informal sector.
  • The company, which has seen a compound annual growth rate (CAGR) of 28% in its Assets Under Management (AUM) during the last six years, expects to continue that trend and touch an AUM of Rs 11,000 crore by March 2025.
  • Currently, the AUM of the firm stands at approximately Rs 7,500 crore.
  • Furthermore, TPG has committed to infuse Rs 1,000 crore, out of which Rs 538 crore has already been infused.
  • The firm has a customer base of over 75,000 that is served by a network of 195 branches, with plans to add 2-3 branches every month.
  • The firm is also in talks with three life and non-life insurance companies each for a corporate agency license.
  • Among key ratios, the cost of borrowing by the Housing Finance company stands at 1% as of September 30, 2023.
  • The conservative loan-to-value (LTV) ratios are in the average range of 60% to 70% for housing loans.
  • Overall, the LTV ratio is less than 60%.
  • Speaking on fund-raising plans, the company plans to raise around Rs 2,500 crore in order to boost the growth of AUM through banks, Non-Convertible Debentures (NCDs), and other multilateral agencies.
  • MD and CEO of Grihum Housing Finance : Manish Jaiswal

Reliance Industries Collaborates with DBS Bank for Financing Program for Compressed Biogas (CBG) Plants                             

  • Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing programme customised to the requirements of the compressed biogas project initiated by RIL.
  • The financing initiative aims to support the ecosystem development for vendor partners involved in aggregating agri-residue as inputs for Reliance’s CBG production plants across India.
  • At Reliance’s 46th annual general meeting (AGM), Chairman Mukesh Ambani had informed that the company targets to establish 100 compressed biogas (CBG) plants in the next 5 years, consuming 5.5 million tonnes of agro-residue and organic waste.

Key Highlights :

  • The CBG plants are expected to mitigate nearly 2 million tonnes of carbon emissions annually and produce 2.5 million tonnes of organic manure.
  • Reliance Industries, emphasizing non-fossil fuel initiatives, is aggressively working on CBG as an alternative to traditional fossil fuels, such as CNG.
  • Farmers typically burn agricultural residue due to lack of means, infrastructure, and logistics for processing.
  • RIL’s initiative aims to address this issue.
  • DBS Bank is engaged as the finance partner for RIL’s CBG project, providing financial support for the establishment and operation of the biogas facilities.
  • RIL has already started on a massive program to set up biogas facilities across the country starting with Barabanki in Uttar Pradesh.
  • This plant is expected to reduce carbon emissions by 40,000 tonnes annually.
  • Reliance Industries Limited is setting up world-class biogas facilities at multiple locations in Uttar Pradesh by using surplus agro residue and organic waste.
  • These facilities will be linked to a network of biogas dispensing stations operated by Reliance Jio BP.

About DBS Bank Limited :

  • Established : 16 July 1968
  • Headquarters : Singapore
  • CEO : Piyush Gupta

Finance Ministry Allocates Rs 10,000 Crore as Urgent Aid for National Rural Employment Guarantee Scheme (NREGS)                    

  • The finance ministry has released ₹10,000 crore in urgent assistance to meet unexpected enhanced expenditure under the rural job guarantee scheme until the first batch of supplementary demands for grants is approved by parliament at its next session.
  • The unusual move came after 95% of the FY24 budgetary outlay of ₹60,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was exhausted well before the commencement of the winter session of parliament.
  • The urgent funds, released last week to the rural development ministry, will form a part of the additional ₹28,000 crore that could be allocated for the scheme in the first batch of supplementary demands for grants for FY24.
  • The budget for FY24 had trimmed the MGNREGS outlay by a third to Rs 60,000 crore from the revised estimate of Rs 88,400 crore for FY23.
  • However, finance minister Nirmala Sitharaman had pledged more funds for the scheme if required.

About Ministry of Finance :

  • Cabinet Minister : Nirmala Sitharaman
  • Minister of State : Bhagwat Karad, Pankaj Choudhary

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CURRENT AFFAIRS: NATIONAL NEWS

Union Minister Shri Arjun Munda inaugurates ASEAN-India Millet Festival today at New Delhi

  • Union Minister of Agriculture and Farmers’ Welfare and Tribal Affairs Shri Arjun Munda inaugurated ASEAN-India Millet Festival today at New Delhi.
  • Ministers of States for Agriculture and Farmers’ Welfare Shri Kailash Choudhary and Sushri Shobha Karandlaje and Secretary, Department of Agriculture and Farmers’ Welfare, Shri Manoj Ahuja were also present in the occasion.
  • In line with the International Year of Millets, the festival aims to increase awareness and establish a larger market for millet and millet-based products.
  • The festival will conclude on 15th December 2023.
  • The event followed a preceding festival held in Jakarta, Indonesia from 22-26 November 2023.
  • On day two of the festival, a Business-to-Business (B2B) meeting is organized by APEDA.
  • Under the visionary leadership of Prime Minister Shri Narendra Modi, the Government of India has played an important role in organizing the mega event of International Millets Year 2023.
  • This concerted effort transcended boundaries and transformed the event into a global milestone of unparalleled significance.
  • Prime Minister Shri Modi’s deep understanding of sustainable agriculture and nutrition security has been the driving force behind India’s proactive progress in placing food at the forefront of the global agenda.
  • This has led to investment in extension services along with research and development, which motivates stakeholders to increase the productivity, quality and associated production methods of grain.

Union Health Minister Dr Mansukh Mandaviya inaugurates new State-of-the-Art facilities at ICMR-NIMR

  • Mansukh Mandaviya, Union Minister of Health and Family Welfare while inaugurating five new facilities at the Indian Council of Medical Research – National Institute of Malaria Research (ICMR-NIMR).
  • The facilities included a Test Research Laboratory, an Innovation Complex, a Conference Hall Complex and a 300-seat Auditorium.
  • He was joined by Prof. S.P. Singh Baghel and Dr. Bharati Pravin Pawar, Union Ministers of State for Health and Family Welfare.
  • The Union Health Minister highlighted the century-long journey of ICMR and its role in shaping India’s medical research landscape.
  • He informed that “with ICMR’s support, India provided COVID-19 vaccines, diagnostic kits, and personal protective equipment (PPE) to over 110 countries, reflecting the nation’s commitment to global health and solidarity”.
  • Mandaviya also commended ICMR-NIMR for pioneering India’s research towards tackling malaria.
  • Strengthening the institute’s infrastructure is a step towards moving to malaria elimination in the country by 2030.
  • The Union Health Minister focused on the integration of technologies like Digital Health and Artificial Intelligence in healthcare.
  • He emphasized the importance of the innovative use of drones for vaccine and drug delivery and the exploration of organ transfer via drones, which would signify a major leap in healthcare accessibility and efficiency.

Indian Forest & Wood Certification Scheme launched to promote Sustainable Management of forests and agroforestry

  • The Ministry of Environment, Forests and Climate Change has launched the Indian Forest & Wood Certification Scheme.
  • This national forest certification scheme offers voluntary third-party certification designed to promote sustainable forest management and agroforestry in the country.
  • The scheme includes forest management certification, tree outside forest management certification, and chain of custody certification.
  • It can provide market incentives to various entities that adhere to responsible forest management and agroforestry practices in their operations.
  • Parties involved: This includes state forest departments, individual farmers, or Farmer Producer Organizations engaged in agroforestry and farm forestry, as well as other wood-based industries in the value chain.
  • The Forest Management certification is based on the Indian Forest Management Standard, consisting of 8 criteria, 69 indicators and 254 verifiers, which is an integral part of the National Working Plan Code 2023, launched earlier this year.
  • A separate Trees outside Forests Standard, is now introduced.
  • It will be overseen by the Indian Forest and Wood Certification Council, which will act as a multistakeholder advisory body.
  • The Council is represented by members from eminent institutions such as Indian Council of Forestry Research and Education, Forest Survey of India, Quality Council of India, and Indian Institute of Forest Management including representatives from the Ministries of Agriculture and Farmers’ Welfare and Ministry of Commerce and Industry, State Forest Departments, Forest Development Corporations, and representatives from wood-based industries.
  • Indian Institute of Forest Management, Bhopal will act as the scheme operating agency and will be responsible for overall management of the scheme.
  • The National Accreditation Board for Certification Bodies under the Quality Council of India will accredit the certification bodies which will carry out independent audits and assess adherence of various entities on the standards prescribed under the scheme.

Rajya Sabha Passes Bill On Appointment Of Chief Election Commissioner and Election Commissioners

  • The Rajya Sabha has passed a Bill to regulate the appointment of the Election Commission of India.
  • The bill retained the status of the CEC and two ECs on par with judges of the Supreme Court.
  • The earlier Bill sought to downgrade their service conditions, aligning them with those of a Cabinet Secretary.
  • The Election Commission is a permanent and independent body by Article 324 of the Constitution of India.
  • The Chief Election Commissioner and other Election Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023, was passed in the Upper House of Parliament with a voice vote.
  • The bill seeks to replace the Chief Justice of India with a Cabinet Minister nominated by the Prime Minister in the committee for selection of the CECs and ECs.
  • It also makes the Leader of Opposition in Lok Sabha a member of the selection committee.
  • The bill says the ECI will consist of a CEC and other ECs from among people:
  • who hold or have held the post equivalent to Secretary to the Government of India; and
  • shall be persons of integrity, who have knowledge of and experience in management and conduct of elections.
  • First, a Search Committee, headed by the Law Minister, would propose a panel of names to the selection committee.
  • The Selection committee will be chaired by the PM and will include the Leader of the Opposition or leader of the single largest Opposition party in Lok Sabha and a Cabinet Minister nominated by the Prime Minister.
  • The Selection Committee may consider any other person apart from those included in the Search Committee’s panel.
  • The terms of the CEC and ECs remain unchanged, at six years or until they reach the age of 65 years, whichever is earlier.
  • The new Bill says the salary of the CEC and ECs would be equivalent to as that of a Supreme Court judge.
  • The bill repeals the Election Commission (Conditions of Service of Election Commissioners and Transaction of Business) Act, 1991.
  • While CEC’s removal shall be in the same manner and on like grounds as an SC judge, the election commissioners can only be removed from office on the recommendation of CEC.

India’s first Six Lane Steel Slag based Road Connecting NH-6 to Hazira Port has been constructed

  • India’s first Six six-lane steel slag-based Road Connecting NH-6 to Hazira Port has been constructed.
  • Steel Slag is produced as a solid waste during steel production.
  • Around 180 – 200 kg of steel slag is generated per tonne of steel production.
  • The Ministry of Steel has funded a R&D project on “Development of Design Guidelines and Specifications for utilization of Steel Slag in road construction”.
  • Under this R&D project, India’s first six-lane steel slag based road connecting National Highway-6 to Hazira Port was constructed at Surat Hazira in May, 2022.
  • Under this scheme, processed steel slag is used as a substitute for the natural component in all layers of bituminous pavement.
  • The draft guidelines for the construction of steel slag based roads have been prepared by CSIR-CRRI.
  • The draft guidelines for construction of steel slag based roads, developed as part of the aforementioned R&D project, prepared by CSIR-CRRI, has been shared with the Indian Road Congress and Ministry of Road Transport & Highways.

The 29th Kolkata International Film Festival: Israeli film ‘Children of Nobody’ won the Best film award

  • The 29th Kolkata International Film Festival
  • Israeli film ‘Children of Nobody’ won the Best Film Award under International Competition in Innovation Moving Images.
  • It is directed by Erez Tadmor.
  • 219 films from 39 countries were screened at different locations across Kolkata.
  • Carlos Daniel Malave won the Best Director award. Anjan Dutta’s ‘Chalchitro Ekhon’ won the Special Jury Award.
  • Director duo Sharmistha Maity and Rajdeep Paul’s ‘Mon Potongo’ won the award for the best film under the Bengali Panorama category.
  • In addition to these, Hiralal Memorial Trophy, and Netpack Award were also given.
  • 29th Kolkata International Film Festival was organized by the Information and Cultural Affairs Department, Government of West Bengal.
  • It was held from 5 – 12 December 2023 in Kolkata.
  • It is accredited by the International Federation of Film Producers’ Association or FIAPF.
  • The Kolkata International Film Festival started in 1995.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India and the United States Collaborate on a $390 Million Funding Initiative to Implement 50,000 Electric Buses by 2027          

  • India is aiming to get 50,000 elect mric buses on its streets by 2027 with help from a joint finance mechanism with the United States (US).
  • The $390 million fund will act as a guarantee for manufacturers seeking loans to expand production, Indian and US officials said at a side event at COP28. India currently only has 12,000 e-buses in operation.
  • The payment security mechanism, established with $150 million from the US government and philanthropic groups, and $240 million from the Indian government.
  • India has been working to drive down the price of electric buses.
  • The new fund mechanism from the government is designed to mitigate manufacturers’ risks as they access finance for fresh investments.

India, South Korea, and the United States to Establish Technology Trialogue                          

  • India, South Korea and the United States (US) will start an informal trilateral technology dialogue in the first quarter of 2024 in response to China’s rapid progress in critical technologies within the Indo-Pacific region.
  • The decision was made during the inaugural US-South Korea Next Generation Critical & Emerging Technologies Dialogue held in Seoul.

Key Highlights :

  • The two sides agreed to hold “National Security Council and National Security Office-led consultations with like-minded partners on critical and emerging technologies including through launching an informal trilateral technology dialogue with India in the first quarter of 2024″.
  • The development comes as India concluded a series of pacts with advanced countries to spur innovation and investment in critical technologies.
  • An Initiative on Critical and Emerging Technology (iCET), announced by India and the US in 2022, has been one high- profile example.
  • The aim of this programme is to increase cooperation in strategic and defence technologies between the two countries, including their private sector and academia.
  • Similar to the Quad group, the India-US-South Korea trilateral dialogue aims to address critical technologies.
  • This collaboration could complement the Quad initiative.
  • The Quad countries (Australia, India, Japan, and the US) launched the Quad Principles on Technology Design, Development, Governance, and Use at the Quad Leaders’ Summit on September 24, 2021.
  • According to the Quad principles, technology standards should emphasize openness and interoperability, foster competitive markets, and encourage innovation.
  • The Seoul meeting, chaired by US National Security Advisor Jake Sullivan and Republic of Korea (ROK) National Security Advisor Cho Tae-yong, outlined six main strategic technology areas for cooperation.
  • These include semiconductor supply chains and technology, biotechnology, batteries, clean energy technology, quantum science and technology, digital connectivity, and artificial intelligence.
  • The National Security Advisors emphasised the importance of aligning and adapting technology protection toolkits, including mechanisms like the Disruptive Technology Protection Network and investment screening, to prevent the leakage of sensitive and dual-use technologies.

About United States :

  • President : Joe Biden
  • Capital : Washington, D.C
  • Currency : U.S. dollar

About South Korea :

  • President : Yoon Suk Yeol
  • Prime Minister : Han Duck-soo
  • Capital : Seoul
  • Currency : Korean Republic won

CURRENT AFFAIRS : STATE NEWS

Apple supplier Corning to build a Rs 1000 crore facility in Tamil Nadu

  • Key Apple supplier and American gorilla glass maker, Corning Inc., is investing Rs 1,000 crore to set up a manufacturing facility in Tamil Nadu (TN).
  • The facility will be set up at Pillaipakkam, near Sriperumbudur, on a 25-acre plot, which can be expanded if the need arises and will employ around 300 people.

Key Highlights :

  • Apple Supplier Ecosystem in India : This investment marks the formal entry of another Apple supplier into India.
  • It contributes to the growth of the expanding ecosystem of Apple and electronic component manufacturers in the country.

About Corning Inc. :

  • Corning Inc. is a Fortune 500 materials science company headquartered in New York.
  • They are known as the inventors of gorilla glass, a strengthened glass widely used in portable devices such as mobile phones, tablets, and laptops.
  • Corning Inc. will collaborate with its Indian partner, Optiemus Infracom, for the establishment and operation of the manufacturing facility.
  • Tamil Nadu is home to some of Apple’s largest contract manufacturers like Foxconn, Pegatron and Tata Electronics.

About Tamil Nadu :

  • Governor: R. N. Ravi
  • Chief minister: M. K. Stalin
  • Capital: Chennai
  • Dance : Bharatnatyam, Karakattam
  • National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
  • Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
  • Tiger Reserve: Anamalai Tiger Reserve
  • Biosphere Reserve : Agasthyamalai Biosphere Reserve

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Mohan Yadav Takes Oath as the 19th Chief Minister of Madhya Pradesh                                             

  • Mohan Yadav, the BJP legislature party leader and MLA from Ujjain South, was sworn in as the 19th Chief Minister of Madhya Pradesh (MP) replacing Shivraj Singh Chouhan.
  • The 58-year-old leader was administered the oath of office by Governor Mangubhai Patel at the Lal Parade Ground in State capital Bhopal, MP.
  • BJP legislators Jagdish Devda and Rajendra Shukla were sworn in as the Deputy Chief Ministers by the Governor.
  • Prime Minister Narendra Modi, Union Home Minister Amit Shah, BJP national president J.P. Nadda, and former CM Shivraj Singh Chouhan were among the dignitaries present at the ceremony that took place in State capital’s Lal Parade Ground.
  • Tomar will be the next Assembly Speaker.

About Mohan Yadav :

  • Yadav, a three-term Member of Legislative Assembly (MLA) from Ujjain-Dakshin (South) assembly constituency and won the seat consecutively in 2013, 2018 and 2023.
  • He is a prominent OBC leader in MP.
  • He was the education minister under the Chouhan government.

Donald Tusk elected as the new Prime Minister of Poland

  • After current leader Mateusz Morawiecki lost a confidence vote in parliament, Donald Tusk was elected as the new Prime Minister (PM) of Poland.
  • Donald Tusk received 248 votes in favour while 201 voted against him.
  • He was elected as prime minister nearly two months after a national election that was won by a coalition of parties ranging from left-wing to moderate conservative.
  • The incoming administration will be sworn in at the presidential palace by President Andrzei Duda.
  • The reign of the outgoing right-wing populist Law and Justice (PiS) party witnessed numerous disputes with the EU over many issues.

About Donald Tusk :

  • Tusk was born in Gdańsk in northern Poland.
  • He served as the prime minister of Poland between 2007 and 2014.
  • He served as President of the European Council from 2014 to 2019.
  • He was also the President of the European People’s Party (EPP) from 2019 to 2022.
  • He co-founded the Civic Platform (PO) party in 2001 and has served as its leader since 2021, having also led it between 2003 and 2014.

About Poland :

  • President : Andrzej Duda
  • Capital : Warsaw
  • Currency : Polish Zloty

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy to induct Fast Attack Craft, ‘INS Tarmugli’

  • The Indian Navy will be re-inducting a refurbished 22-year-old fast attack craft, INS Tarmugli, in a ceremonial commissioning ceremony at the naval dockyard, Visakhapatnam, more than 17 years after she was gifted to Maldives which used it for years and returned to India in May, 2023.
  • The ship has a unique distinction of having served under the flag of two nations with three names during her distinguished service till date.

About INS Tarmugli :

  • Commissioned in the Indian Navy as INS Tillanchang, a Trinkat Class ship, she was in active service till 2006, and thereafter gifted to the Maldives National Defence Force (MNDF) by the Govt of India, as part of diplomatic outreach in the Indian Ocean Region (IOR).
  • The ship, according to the Indian Navy, was commissioned into MNDF as MCGS Huravee on 16 April 2006, and served there till its decommissioning in May 2023.
  • Before handing over to India, Huravee was refitted at naval dockyard, Visakhapatnam, in November 2018 by the Indian Navy to boost diplomatic ties with Maldives which has now nosedived after Mohamed Muizzu won elections in September.
  • President Muizzu, who is more inclined towards China, had also asked India to take back its armed forces stationed in his country for providing security. India has agreed to take back its 75 personnel.
  • The ship, meanwhile, was returned to the Indian Navy, which also provided an in-service water jet fast attack craft, INS Tarmugli, to MNDF as the new MCGS Huravee.
  • The vessel was originally designed and constructed by Kolkata-based Garden Reach Shipbuilders & Engineers and was commissioned into the Indian Navy on March 17, 2001.
  • The ship has undergone extensive repair and upgradation by the Indian Navy at Naval Dockyard, Visakhapatnam, over the last 6 months, and is scheduled to be commissioned as ‘INS Tarmugli’ on 14 Dec 2023 at Visakhapatnam.
  • VAdm Sandeep Naithani, Chief of Materiel will be the Chief Guest for the commissioning ceremony.

About Ministry of Defence :

  • Defence Minister : Rajnath Singh
  • Defence Secretary : Giridhar Aramane

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China begins commercial operations at world’s first fourth-generation nuclear reactor                           

  • China has started commercial operations at a new generation nuclear reactor that is the first of its kind in the world.
  • Compared with previous reactors, the fourth-generation Shidaowan plant in China’s northern Shandong province is designed to use fuel more efficiently and improve its economics, safety and environmental footprint as China turns to nuclear power to try to meet carbon emissions goals.
  • The 200 megawatt (MW) high-temperature, gas-cooled reactor (HTGCR) plant developed jointly by state-run utility Huaneng, Tsinghua University and China National Nuclear Corporation, uses a modular design.
  • NuScale Power, previously expected to be the first U.S. company licensed to build a small modular reactor.
  • China has a goal to produce 10% of electricity from nuclear by 2035 and 18% by 2060, but as of September this year had not met its 2020 target to install 58 gigawatts of nuclear capacity.
  • China has also not signed a pledge by 20 countries at the COP28 climate conference taking place in Dubai to triple nuclear power capacity by 2050.

About China :

  • Capital : Beijing
  • Currency : Renminbi

CURRENT AFFAIRS: AWARDS AND HONOURS

Writer Pushpa Bharati’s memoir selected for Vyas Samman award

  • Pushpa Bharati’s from Moradabad of Uttar Pradesh 2016 memoir ‘Yaadein, Yaadein aur Yaadein’ has been selected for the 33rd Vyas Samman.
  • The award is presented to an outstanding Hindi literary work by an Indian citizen published during the last 10 years.
  • A selection committee headed by eminent litterateur Prof Ramji Tiwari picked Bharati’s Yaadein, Yaadein aur Yaadein for the Vyas Samman award.
  • The award carries a cash prize of ₹4 lakh, a citation and a plaque.

About Vyas Samman award

  • The Vyas Samman Award was instituted in 1991. It is given by the KK Birla Foundation.
  • Besides the Vyas Samman, the KK Birla Foundation has also instituted Saraswati Samman and Bihari Puraskar.
  • The Saraswati Samman, which carries a cash prize of ₹15 lakh, is given to an outstanding literary work by an Indian citizen in any of the languages included in Schedule VIII to the Constitution of India and published during a period of 10 years.
  • The Bihari Puraskar carries a cash prize of ₹2.5 lakh and is meant for Hindi/Rajasthani writers of Rajasthan.

Kabir Bedi feted with Italy’s highest civilian honour

  • Kabir Bedi has been honoured with the highest civilian honour of Italy.
  • He was awarded the Order of Merit of the Italian Republic (Merito della Repubblica Italiana).
  • Niccolo Fabi gave a unique live musical performance following the occasion in Mumbai.
  • Order of Merit is Italy’s highest honour.
  • It’s even higher than Cavaliere (Knight).
  • Kabir Bedi recalled his journey of being Sandokan began at the Taj Mahal Palace Hotel, where he met the director and Producer of the Sandokan series for the very first time.
  • The scroll of honour was signed by President Mattarella and counter-signed by Prime Minister Giorgia Meloni.

Daily CA One-Liner: December 15

  • The Reserve Bank of India (RBI) increased the limit for automatic payments through Unified Payments Interface (UPI) to Rs 1 lakh per transaction from the existing Rs 15,000 for certain categories, including subscription to mutual funds.
  • Following a change in ownership, Poonawalla Housing Finance has been rebranded as Grihum Housing Finance with global private equity firm TPG now holding 99.02 per cent stake in the housing finance company.
  • Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing programme customised to the requirements of the compressed biogas project initiated by RIL.
  • The finance ministry has released ₹10,000 crore in urgent assistance to meet unexpected enhanced expenditure under the rural job guarantee scheme until the first batch of supplementary demands for grants is approved by parliament at its next session.
  • India is aiming to get 50,000 electric buses on its streets by 2027 with help from a joint finance mechanism with the United States (US).
  • India, South Korea and the United States (US) will start an informal trilateral technology dialogue in the first quarter of 2024 in response to China’s rapid progress in critical technologies within the Indo-Pacific region.
  • Key Apple supplier and American gorilla glass maker, Corning Inc., is investing Rs 1,000 crore to set up a manufacturing facility in Tamil Nadu (TN).
  • Mohan Yadav, the BJP legislature party leader and MLA from Ujjain South, was sworn in as the 19th Chief Minister of Madhya Pradesh (MP) replacing Shivraj Singh Chouhan.
  • After current leader Mateusz Morawiecki lost a confidence vote in parliament, Donald Tusk was elected as the new Prime Minister (PM) of Poland.
  • The Indian Navy will be re-inducting a refurbished 22-year-old fast attack craft, INS Tarmugli, in a ceremonial commissioning ceremony at the naval dockyard, Visakhapatnam, more than 17 years after she was gifted to Maldives which used it for years and returned to India in May, 2023.
  • China has started commercial operations at a new generation nuclear reactor that is the first of its kind in the world.
  • Union Minister of Agriculture and Farmers’ Welfare and Tribal Affairs Shri Arjun Munda inaugurated ASEAN-India Millet Festival today at New Delhi
  • Mansukh Mandaviya, Union Minister of Health and Family Welfare while inaugurating five new facilities at the Indian Council of Medical Research – National Institute of Malaria Research (ICMR-NIMR).
  • The Ministry of Environment, Forests and Climate Change has launched the Indian Forest & Wood Certification Scheme.
  • The Rajya Sabha has passed a Bill to regulate the appointment of the Election Commission of India.
  • India’s first Six six-lane steel slag-based Road Connecting NH-6 to Hazira Port has been constructed.
  • The 29th Kolkata International Film Festival ended and Israeli film ‘Children of Nobody’ won the Best Film Award under International Competition in Innovation Moving Images
  • Pushpa Bharati’s from Moradabad of Uttar Pradesh 2016 memoir ‘Yaadein, Yaadein aur Yaadein’ has been selected for the 33rd Vyas Samman.
  • Kabir Bedi has been honoured with the highest civilian honour of Italy.

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