Daily Current Affairs 20th December, 2023

Daily Current Affairs 20 December for Banking/Insurance/SSC and other related exams.

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BANKING & FINANCE

SBI’s Market Capitalization Soars to Rs 6 Trillion: A 17% Surge in 1 Month
Shares of State Bank of India (SBI) have reached new heights, hitting a record Rs 659.50, marking a substantial 17% surge in the past month. This surge has outpaced the market, with S&P BSE Sensex and Nifty 50 up by nearly 9%, and the Nifty PSU Bank index gaining 14% during the same period.

• The remarkable rally has propelled SBI’s market capitalization close to Rs 6 trillion, drawing attention to the bank’s positive financial performance.
• SBI has demonstrated robust financial performance in recent quarters, showcasing resilience in the face of economic challenges. The bank’s consistent profitability and a healthy balance sheet have bolstered investor confidence, leading to increased demand for its shares and a subsequent rise in market capitalization.

BUSINESS & ECONOMY

Accenture Launches New Generative AI Studio in Bengaluru
In a strategic move to enhance its capabilities in the realm of artificial intelligence, Accenture has recently inaugurated a state-of-the-art Generative AI Studio in Bengaluru.The multi-national company claims that this studio is designed to be a hub for the development and application of generative AI technologies.

• This development aligns with the company’s commitment to invest $3 billion in data and AI over the next three years.
• The primary function of the studio is to provide a space where Accenture’s data and AI team can work together with clients to develop solutions based on generative AI.

Suzlon and REC Ltd Collaborate On Non-Fund Based Working Capital
Suzlon Group, India’s largest renewable energy solutions provider, has recently inked a definitive agreement with REC Limited, a state-run entity, for crucial working capital facilities.

• This strategic partnership is geared towards bolstering Suzlon’s capacity to meet its working capital needs, pivotal for executing its extensive current order book and prospective future projects.

Govt Reports a Decline In Agriculture’s GDP Share To 15% In FY23
Share of agriculture in India’s GDP declined to 15 per cent last fiscal year from 35 per cent in 1990-91 due to rapid growth in the industrial and service sector, the government informed.

• The share of agriculture in total Gross Value Added (GVA) of economy has declined from 35% in 1990-91 to 15% in 2022-23. The decline is brought out not by the decline in agricultural GVA but a rapid expansion in industrial and service sector GVA,” Union Agriculture Minister Arjun Munda said in a written reply to Lok Sabha.
• In growth terms, agriculture and allied sector has registered an average annual growth of 4 per cent during last five years. As far as global experience is concerned, share of agriculture in the world’s GDP has also declined over the decades and stands at about 4 per cent in recent years.

SPORTS

Amitabh Bachchan becomes owner of Mumbai team in Indian Street Premier League
Megastar Amitabh Bachchan announced his association with the Indian Street Premier League (ISPL) as the owner of team Mumbai.

• The ISPL is India’s first tennis ball T10 cricket tournament that will be played inside a stadium, according to a press release. The inaugural edition is scheduled to be held from March 2 to March 9 in Mumbai.
• The tournament will feature 19 high-intensity matches, boasting a line-up of six teams – Hyderabad, Mumbai, Bengaluru, Chennai, Kolkata, and Srinagar.

AWARDS

Gaja Capital Business Book Prize ‘Against All Odds’ ‘Winning Middle India’ declared joint winners
“Against All Odds: The IT Story of India” and “Winning Middle India: The Story of India’s New-Age Entrepreneurs” have been announced as the joint winners of the ‘Gaja Capital Business Book Prize’ 2023.

•   “Against All odds” written by S ‘Kris’ Gopalakrishnan and N Dayasindhu and Krishnan Narayanan, and “Winning Middle India” by TN Hari and Bala Srinivasa were selected from a diverse and compelling shortlist of five books — including “Capture the Dream” and “Essentially Mira”, “The Tech Phoenix” — showcasing the expanding pantheon of Indian business literature.
• ‘Gaja Capital Business Book Prize’  offers the largest book prize in the country, INR 15 lakh in prize money, to reward and support authors and promote high-calibre business research that would encourage and equip upcoming business owners and young entrepreneurs.

Israeli Film ‘Children of Nobody’ Wins Golden Bengal Tiger Award
The 29th Kolkata International Film Festival (KIFF) concluded with a momentous highlight as the Israeli film ‘Children of Nobody‘ directed by Erez Tadmor, secured the prestigious Golden Royal Bengal Tiger Award for Best Film. Inspired by a true story, this compassionate Israeli drama sheds light on the often unnoticed and uncared-for individuals on the periphery of society.

• The Best Director award was bagged by Carlos Daniel Malave. Anjan Dutta’s ‘Chalchitro Ekhon’ bagged the Special Jury Award.
• Director duo Sharmistha Maity and Rajdeep Paul’s ‘Mon Potongo’ was awarded best film under Bengali Panorama category.  For the best film ‘Royal Bengal Tiger Trophy’ 51 lakh rupees were given as an award.
• Apart from these Hiralal Memorial Trophy, Netpack Award were also given. The best short film and documentary were also awarded with Royal Bengal Tiger Trophy.

IndiGo Becomes First Indian Airline to Carry 100 Million Passengers a Year
Private airliner IndiGo announced that it had made history by ‘becoming the first Indian airline to carry 100 million passengers in a single calendar year’.

• IndiGo has expanded its global presence by incorporating over 20 additional international routes into its network in the past half-year.
• In the release, the airline said that it has worked to enhance its domestic connectivity and has plans to continue this growth trajectory by including sought-after destinations such as Bali, Indonesia, and Medina, Saudi Arabia, to its network in the coming months.

SCIENCE & TECHNOLOGY 

Google announces India-first AI-powered experiences for Maps
Google has announced an array of India-first AI-powered features for Maps. Among the new AI-powered experiences is the address descriptors, lens integration, and live view walking navigation.

• Google said that with new features the company wants to provide a more comprehensive Maps experience, which is localised for the needs of Indian users.
• Google said the Address Descriptors feature would make it easier for users in India to find locations on Maps. Essentially, this features would add up to five of the most relevant landmarks automatically together with the shared pin location.

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