Daily Current Affairs 15 December for Banking/Insurance/SSC and other related exams.
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NATIONAL NEWS
Madhya Pradesh government to set up PM College of Excellence in all districts of the state
Madhya Pradesh government will set up PM College of Excellence in all districts of the state. The decision to this effect was taken at the first Cabinet meeting chaired by new Chief Minister Mohan Yadav in Bhopal.
- In Madhya Pradesh, the government will upgrade one college in every district out of total 570 government colleges as “PM College of Excellence”. More than Rs 460 crore will be spent on the development of these colleges.
- Apart from this, degree and mark sheets of students in all government and private universities will be uploaded in DigiLocker. The government has increased the tendu leaf collection rate from Rs 3,000 per bag to Rs 4,000 per bag. With this, more than 35 lakh tendu leaf collectors will get additional remuneration of Rs 162 crore.
Indian Naval Ship Tarmugli commissioned
Indian Navy commissioned INS Tarmugli, a Fast Attack Craft, at an impressive ceremony held at Naval Dockyard Visakhapatnam under the aegis of the Eastern Naval Command. Vice Admiral Sandeep Naithani, Chief of Materiel was the Chief Guest for the Ceremony.
- The ship is a Trinkat Class FAC which was gifted to the Maldivian Naval Defence Forces (MNDF) in 2006 by the Govt of India. The ship was returned to the Indian Navy in May this year, which also provided an in-service Waterjet Fast Attack Craft, to MNDF as the new MCGS Huravee. Post extensive restoration work by the Naval Dockyard, Visakhapatnam the FAC has been reincarnated in its present avatar.
- The warship is fitted with MTU engines, the latest communication equipment, a 30 mm gun and an advanced Radar system and will be extensively used for coastal surveillance and protection of our ODAs in the KG Basin area along the East Coast of India.
Cabinet approves declaration of Surat Airport as an International Airport   Â
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to declare Surat Airport as an International Airport.
- Surat Airport will not only become a gateway for international travelers but also facilitate seamless export-import operations for the thriving diamond and textile – industries. This strategic move promises to unlock unprecedented economic potential, making Surat a key player in the international aviation landscape and fostering a new era of prosperity for the region.
Cabinet approves industrial property rights MoU between India, Italy
The Union Cabinet approved a Memorandum of Understanding (MoU) between India and Italy for cooperation in the field of industrial property Rights.
- Moreover, the MoU will promote the establishment of a mechanism that will allow India and Italy to develop cooperation activities in the field of Industrial Property (IP) and information technology services related to this field.
Defence ministry signs over Rs 5,300 cr deal with Bharat Electronics Ltd
The defence ministry sealed an over Rs 5,300 crore deal with state-run Bharat Electronics Ltd (BEL) for procurement of electronic fuzes for the Indian Army for a period of 10 years.
- An electronic fuze is an integral component of medium to heavy calibre artillery guns which provide sustained artillery firepower for military operations.
- The ministry said the fuzes are being procured for usage in artillery guns which are capable of lethal engagements in various kinds of terrain including high-altitude areas along the northern borders.
BANKING & FINANCE
Kotak Mahindra Bank partners with IITK to launch Kotak School of Sustainability through its CSR program
To address the challenges of global warming, and promote pedigree education, research, and outreach, Indian Institute of Technology Kanpur (IITK) and the Kotak Mahindra Bank Limited (KMBL) joined hands to launch Kotak School of Sustainability.
- The newly launched Kotak School of Sustainability is India’s first fully integrated school of sustainability at IIT Kanpur funded by KMBL through its CSR program.
- This initiative will provide leadership solutions towards sustainability actions and prepare future generations to lead the cause of sustainable development.
BUSINESS & ECONOMY
NCAER pegs India’s logistics cost between 7.8-8.9% of GDP in FY22
India’s logistic costs ranged between 7.8% and 8.9% during 2021-22, down from 8.7-9.9% during 2011-12, a report by economic think tank National Council of Applied Economic Research (NCAER) and the Department for Promotion of Industry and Internal Trade (DPIIT), released.
- According to the report, ‘Logistic Cost in India: Assessment and Long-term Framework’, India’s logistics costs saw a dip during 2014-15 to 2016-17, from 8.3-9.4% to 7.8-8.8%, due to a faster growth in nominal GDP than in logistic costs, and a fall in fuel prices compared to the earlier period.
ADB raises India’s FY24 growth forecast to 6.7%
The Asian Development Bank (ADB) raised its FY24 growth forecast for India to 6.7% from 6.3% announced three months ago, joining a host of agencies to revise up projections citing the country’s stronger-than-anticipated growth of 7.6% in the September quarter.
- In its latest report on outlook for developing Asia, the multilateral lender, however, retained its India growth forecast for FY25 at 6.7.
- It also revised its 2023 growth projection for China to 5.2% from 4.9% earlier. For India, ADB said elevated growth in fixed investment-driven by increased public capital expenditure-will more than make up for lower growth in private consumption expenditure and weaker-than-expected exports amid the external turmoil.
SPORTS
Haryana Leads Medals Tally at Khelo India Para Games, Uttar Pradesh in Second Place
In Khelo India Para Games, Haryana has maintained the lead in medals tally with 69 medals including 25 gold and 31 silver. Uttar Pradesh has secured the second place with 20 gold while Tamil Nadu is at third with 14 gold.
- Pranav Soorma of Haryana bettered his Asia Para Games mark to clinch gold in F51 category men’s club throw for F51 category. In what was a Khelo India Para Games 2023 highlight, the Haryana athlete threw a distance of 33.54 metres at the JLN Stadium.
AWARDS
Sri Lanka President Ranil Wickremasinghe awarded Golden Owl Award to three Indian officers
In Sri Lanka, three Indian officers were awarded the prestigious Golden Owl award by Sri Lanka President Ranil Wickremasinghe at the graduation ceremony . The officers were undergoing Command and Staff course at Sri Lanka’s Defence Services Command and Staff College at Colombo.
- The officers, Wing Commander Sumeet Mahajan, Major Rohit and Lieutenant Commander Sunny Sharma received the award for standing first amongst the foreign student officers.