Daily Current Affairs 12 January 2024 for Banking/Insurance/SSC and other related exams.
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NATIONAL NEWS
PM Modi inaugurates Atal Setu, India’s longest sea bridge, in Mumbai
Prime Minister Narendra Modi inaugurated the Mumbai Trans-harbour link (MTHL), now named ‘Atal Bihari Vajpayee Sewari-Nhava Sheva Atal Setu’, the country’s longest sea bridge.
- The 21.8-kilometre-long sea bridge has been built at a cost of more than Rs 17,840 crore.The bridge, connecting South Mumbai to Navi Mumbai (between Sewri and Nhava Sheva), will reduce the current two-hour journey to just around 15-20 minutes.
Mulya Pravah 2.0: UGC’s New Directive for Ethical Education in India
The University Grants Commission (UGC) has been issuing regulations, guidelines and directives at break neck speed that some of the important ones miss drawing the attention of the higher education community. One such guideline is Mulya Pravah 2.0, a modified version of Mulya Pravah, which was notified in 2019. It seeks to inculcate human values and professional ethics in higher education institutions.
- The stated intention is to build value-based institutions by orienting individuals and institutions towards developing a deep respect for fundamental duties and constitutional values and bonding with the country.
- The trigger is the findings of a survey of human resource managers which highlight unethical practices in various organisations. The most prominent of these are “favouritism in hiring, training, pay and promotion; sexual harassment; gender discrimination in promotion; inconsistent view on discipline; lack of confidentiality; gender differentiation in compensation; non-performance factors overlooked in appraisals; arrangements with vendors for personal gain; and gender discrimination during recruitment and hiring”.
Odisha Chief Minister Naveen Patnaik inaugurates Malkangiri Airport
Odisha Chief Minister Naveen Patanik inaugurated a new airport in Malkangiri in the southwestern part of the state. The aiport is developed at a cost of Rupees 70 crore and is spread over an area of 233 acres and has a runway with a length of 1,620 meters and a width of 30 meters.It was established at a cost of INR 70 crore.
- This strategic initiative is designed to enhance connectivity and foster development in the tribal-dominated areas, marking a crucial step forward in the region’s progress.
BANKING & FINANCE
Rural development Min signs pact with SBI to facilitate loans for SHGs
The Rural Development Ministry and State Bank of India(SBI) signed a memorandum of understanding (MoU) to facilitate enterprise financing for rural self-help groups (SHG), an official statement said.
- State Bank of India introduced a specialised financial product Svyam Siddha, exclusively tailored for SHG women entrepreneurs seeking loans up to Rs 5 lakhs. This initiative is designed to alleviate the challenges associated with extensive documentation requirements for bank loan applications and reduce the turnaround time (TAT).
BUSINESS & ECONOMY
South Korean Simmtech to set up ₹1,250 crore unit for semiconductor ecosystem
South Korean firm Simmtech will be setting up a unit to support semiconductor ecosystem at Sanand near Ahmedabad at a cost of ₹1,250 crore said, Union minister for Electronics and Information Technology, Ashwini Vaishnaw.
- South Korean firm Simmtech Co Ltd has signed an MoU with the Gujarat government to set up a plant near the Micron plant at Sanand. The company is the world’s largest manufacturer of semiconductor substrate. Simmtech has been allotted 30 acres at Sanand.
- As per schedule, the first chip will be produced from the Sanand factory in December 2024.
Global economy surprisingly resilient, but outlook ‘dark’: World Bank
The global economy, while “surprisingly resilient”, is set for a dark outlook, with growth expected to slow down for a third year in a row in 2024, the World Bank has said.
- The World Bank reveals a surprising resilience in the global economy, though shadows loom over the future, anticipating a third consecutive year of slowdown in 2024. After a robust rebound to 6.2% in 2021, global growth waned to 3.0% in 2022 and further to 2.6% in 2023. Projections indicate a continued deceleration to 2.4% in 2024 before a modest recovery to 2.7% in 2025, notably below the 3.1% average of the 2010s said in its Global Economic Prospects report.
- The end of 2024 will mark the halfway point of what was expected to be a transformative decade for development — when extreme poverty was to be extinguished, when major communicable diseases were to be eradicated, and when greenhouse-gas emissions were to be cut nearly in half.
SPORTS
Slogan, Mascots, emblem of Asian Winter Games unveiled
The 9th Asian Winter Games, set to illuminate the winter sports landscape in 2025, have officially entered an exciting phase with the unveiling of its core symbols – the slogan, emblem, and mascots. This grand reveal, hosted in the capital city of Heilongjiang Province, China, marks a significant milestone as the Games draw closer.
- Embracing the spirit of unity and sportsmanship, the official slogan “Dream of Winter, Love among Asia” resonates deeply with the ethos of the Games.
- The heart and soul of the Games are personified in its mascots, “Binbin” and “Nini”, two charming Siberian tiger cubs. Inspired by actual tiger cubs born in the Heilongjiang Siberian Tiger Park, these mascots embody the vitality and spirit of the Games.
- The official emblem, aptly named “Breakthrough”, is a creative masterpiece blending Chinese cultural elements with Olympic symbols. Designed by the team from the Academy of Arts & Design at Tsinghua University, the emblem is a fusion of a short track speed skater figure, a lilac flower (Harbin’s official flower), and dancing ribbons.
Rhythm Sangwan bags India’s 16th quota place in shooting for Paris Olympics
Rhythm Sangwan became the 16th Indian shooter to secure a 2024 Paris quota place, winning a bronze medal in 25m sports pistol at the Asia Olympic Qualifiers, ensuring India’s largest-ever shooting contingent will attend the global showpiece in July-August this year.
- India’s previous largest squad for the 2020 Olympic Games in Tokyo included 15 shooters. Jakarta is proving to be a happy hunting ground, with three shooters — Esha Singh, Varun Tomar (both 10m air pistol) and now Rhythm — securing quota slots for the country thus far.
Aman Sherawat clinches men’s singles 57 kg gold at Zagreb Open
India’s Aman Sehrawat won a gold medal in the 57 kg category of men’s singles event at the Zagreb Open 2024 and kicked off his new year on a champion’s note.
- The 20-year-old wrestler took down China’s Zou Wanhao 10-0 by technical superiority in the final. The Indian wrestler, who is currently ranked 13th in the world maintained his dominance over his Chinese counterpart right from the beginning. Sehrawat didn’t leave room for any error and wrapped up the fight with a minute and eight seconds left on the clock.
- Sehrawat had come off a win over Muhammet Karavus of Turkey in the qualification round. During the fight, the Indian grappler was trailing 0-4 against his counterpart but turned it around to end up as winner 15-4.
AWARDS
ANUBHAV Awards: Celebrating the rich experiences of retiring government employees
Recognizing the invaluable experiences of retiring Central Government employees, the Department of Pension and Pensioners’ Welfare (DOPPW) introduced the ANUBHAV Awards Scheme in 2016. Launched on the directive of Prime Minister Narendra Modi, the scheme aims to cultivate a culture of sharing insights and stories by retirees to promote good governance and administrative reforms.
- The ANUBHAV Portal, established in March 2015, serves as an online platform for retiring and retired government employees to share their experiences. The submission deadline for ANUBHAV Awards Scheme 2024 is March 31, 2024. All Anubhav write-ups published on the Anubhav Portal between July 31, 2023, and March 31, 2024, will be considered for five Anubhav Awards and ten jury certificates under the ANUBHAV Awards Scheme 2024.
- The government has already conferred 54 ANUBHAV awards from 2016 to 2023, recognizing the valuable contributions of retirees.