Daily Current Affairs 24th & 25th December, 2023

Daily Current Affairs 24 & 25 December for Banking/Insurance/SSC and other related exams.

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INTERNATIONAL NEWS

UN declares 2024 as Year of Camelids
The United Nations has declared 2024 the International Year Of Camelids. The decision has been taken to highlight the significant importance of camelids in the lives of people across the world.

• According to the official website of the Food and Agricultural Organization(FAO), camelids influence the lives of millions of households in more than 90 countries. As a group Camelids include alpacas, Bactrian camels, dromedaries, guanacos, llamas, vicuñas which together help in ensuring food security, nutrition and economic growth especially for Indigenous Peoples and local communities.

UN migration agency launches Project PRAYAS for orderly, safe movement of Indians overseas
The International Organisation for Migration (IOM) launched Project PRAYAS to facilitate safe, orderly and regular migration for Indian workers and students.

• The project, PRAYAS (Promoting Regular & Assisted Migration for Youth and Skilled Professionals), was launched in partnership with the Ministry of External Affairs. Established in 1951, IOM is a UN agency dedicated to promoting humane and orderly migration.

Bhutan King unveils Gelephu Mindfulness City SAR Project of 1,000 sq km extending from India to Southeast Asia 
Bhutan’s King, Jigme Khesar Namgyel Wangchuck, highlighted Gelephu Mindfulness City in his 116th National Day address, emphasising South Asia’s ongoing economic transformation and the vast opportunities for the region, home to approximately two billion people.

• The proposed land connection from Gelephu or Samdrup Jongkhar, traversing Assam and Northeast Indian states, extends to Myanmar, Thailand, Cambodia, Laos, Vietnam, Malaysia, and Singapore, forming a dynamic economic corridor that bridges South Asia to Southeast Asia.
• The Gelephu Special Administrative Region (SAR) is envisioned as an autonomous economic hub, endowed with the authority to shape essential laws and policies. With executive autonomy and legal independence, this SAR aims to become a distinctive economic centre, inviting foreign investment through a favorable business environment and compelling incentives.

BANKING & FINANCE

World Bank provides $300 million loan to Tamil Nadu to help 21 Urban Local Bodies
The World Bank’s Board of Executive Directors has approved a new program to support Tamil Nadu and provide around 2 million people with more and better access to water and sewerage services in cities.

• The $300 million Tamil Nadu Climate Resilient Urban Development Program will help 21 Urban Local Bodies (ULBs) update their delivery systems and provide quality and efficient water supply and sewerage services to consumers, says a World Bank release.
• The $300 million loan from the International Bank of Reconstruction and Development (IBRD) will use the blended financing instrument of Program-for-Results (PforR) with Investment Project Financing (IPF) to link disbursement of funds directly to the achievement of results while providing technical assistance. The Program loan has a maturity of 32 years with a grace period of 7 years.

HDFC Life and NKGSB Co-operative Bank Join Forces to Enhance Customer Financial Security
HDFC Life, one of India’s premier insurers, and NKGSB Co-operative Bank Ltd have entered into a Corporate Agency tie-up, allowing NKGSB Co-operative Bank customers to access HDFC Life life insurance products.

• NKGSB Co-operative Bank is a leading multi-state co-operative bank that has always been on the cutting edge of adding value to its products through correspondent partnerships and strategic alliances. To keep up with changing times and client habits, the bank provides its customers with digital banking alternatives such as mobile banking, online banking, and SMS banking.

Axis Bank users can now enjoy benefits of the American Express Network
Privatel sector lender Axis Bank has tied up with American Express and launched an Axis Bank Privilege Credit Card on the American Express network. With this partnership, Axis Bank customers can now enjoy the local and global benefits of the American Express network.

• The Axis Bank Privilege Credit Card on American Express network is packed with a host of attractive benefits such as activation benefit worth Rs 5000 and two complimentary domestic lounge access per calendar quarter.
• To be eligible for the card, you must be a resident of India with an annual net income of at least Rs 600,000. The joining fee is Rs 1500, but it is free for priority customers. The annual fee of Rs 1500 is reversed on achieving spends of Rs 2.5 lakh in the previous year.

BUSINESS & ECONOMY

JICA Signs 20 billion Japanese Yen Loan Agreement with Türkiye to Support Micro and Small Enterprises affected by Earthquake in February 2023
The Japan International Cooperation Agency (JICA) will provide a 20 billion yen (approximately $139.3 million) loan to support small and medium-sized enterprises (SMEs) impacted by a pair of powerful earthquakes that struck southern Türkiye.

• New financing will be provided to SMEs in earthquake zones as part of the Post-Earthquake Micro, Small and Medium Enterprises (MSME) Recovery Project, which was launched in November in collaboration with the World Bank.
• Quake-hit SMEs will benefit from a loan with a 36-month maturity, a payment grace period for the first 24 months and interest-free three equal installments for the remaining 12 months.

APPOINTMENTS

Sony Sports ropes in Kartik Aaryan as brand ambassador for football
Sony Sports Network has joined hands with actor Kartik Aaryan as their brand ambassador for football.

• During his partnership with Sony Sports Network, Kartik will be seen promoting live football action on Sony Sports Network around the year.
• This strategic partnership aims to bring football closer to a wider Indian audience and ignite passion for the sport across generations.

Bisleri ropes in Deepika Padukone as its brand ambassador
Bisleri, India’s leading mineral water brand, has roped in Deepika Padukone as its first-ever global brand ambassador and feature in the new campaign Bisleri #DrinkItUp.

• The Bisleri #DrinkItUp campaign has been shot by Nirvana Films and directed by ace-director Prakash Verma, while Bisleri’s association with Padukone was managed by Wavemaker and GroupM ESP.
• The integrated campaign will be promoted across various platforms, including television, digital, Out-of-Home media, delivery vehicles, influencer engagement, OTT platforms, and much more. Padukone will also be part of all Bisleri product packaging.

ENVIRONMENT 

Pantoea Tagorei: Visva-Bharati researchers name a bacteria after Rabindranth Tagore that helps plants
Researchers from Visva-Bharati discovered a new species of bacteria, Pantoea Tagorei, named after Rabindranath Tagore. The bacteria promotes plant growth and is being used in organic farming. It solubilizes potassium, replenishes nitrogen, and solubilizes phosphorus.

• The bacteria has immense potential to revolutionise agricultural practices, microbiologist Bomba Dam, assistant professor at the varsity’s botany department who led the research.

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