Daily Current Affairs 4th & 5th December, 2022

Daily Current Affairs 4 & 5 December 2022 for Banking/Insurance/SSC and other related exams.

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BANKING & FINANCE

IDFC Mutual Fund to be renamed Bandhan Mutual Fund
IDFC Asset Management Company Limited (AMC), one of the top 10 AMCs in the country, has received regulatory clearances from regulators for its proposed change in ownership. Securities market regulator SEBI granted the necessary no objection for IDFC AMC’s acquisition by a consortium comprising Bandhan Financial Holdings Limited (BFHL), GIC (GIC), and ChrysCapital (CC).

  • On completion of the transition, IDFC AMC is proposed to be renamed as Bandhan Asset Management Company Limited and IDFC Mutual Fund (MF) is proposed to be renamed as Bandhan Mutual Fund, with BFHL becoming the Sponsor of the Mutual Fund.

NPCI extends UPI volume cap deadline by 2 Years till Dec 2024
The National Payments Corporation of India has extended the deadline for payment aggregators to meet the guidelines on volumes of UPI (Unified Payments Interface) transactions by two years till December 31, 2024.

  • In November 2022, the NPCI had proposed a 30 per cent volume cap for third-party app providers (TPAP). Currently, there’s no cap on volume and Google Pay and PhonePe hold the market share of about 80 per cent.
  • The deadline given by NPCI was of December 31, 2022 after which all players would have to have a share of 30 percent or less in monthly UPI volumes.

RBI, Financial Services Agency of Japan Exchange Letters of Co-Operation
The Reserve Bank of India (RBI) and the Financial Services Agency (FSA) of Japan exchanged letters of cooperation in the field of central counterparties (CCPs) with the expressed aim of improving mutual cooperation.

  • With this exchange of letters, the RBI and the FSA are committed to deepening relations between the two countries and strengthening the exchange of information.
  • The move comes at a time when the European and the UK regulators have derecognised various Indian clearing houses, including the Clearing Corporation of India (CCIL), which hosts the trading platform for government bonds and overnight indexed swaps (OIS).


BUSINESS & ECONOMY

NSE launches new Nifty Bharat Bond Index
The National Stock Exchange’s subsidiary NSE Indices has said it has launched one more index under the Nifty Bharat Bond Index series.

  • The Bharat Bond Index series follows a target maturity date structure wherein each index in the series measures the performance of a portfolio of ‘AAA’ rated bonds issued by government owned entities maturing in a specific year.
  • Nifty Bharat Bond Index — April 2033 – has been launched within the Nifty Bharat Bond Index series, a release said.


SPORTS

Shooter Rudrankksh Patil clinches ISSF President’s Cup in Egypt
Indian shooter Rudrankksh Patil has clinched the International Shooting Sport Federation (ISSF) President’s Cup held in Cairo, Egypt. He defeated Italy’s Danilo Sollazzo in the 10-metre rifle play-off by 16-8.

  • Athletes from 42 nations representing 43 ISSF Member Federations from all continents are taking part in this competition, which is being held since November 28 and Concludes.
  • 18-year-old Rudrankksh Patil also bagged India’s first quota for the 2024 Paris Olympics, when he clinched a gold in the men’s 10-metre air rifle in the ISSF Rifle-Pistol World Championships 2022 also held in Cairo in October this year.


APPOINTMENTS

Hansraj Gangaram Ahir named as the new NCBC Chairperson
Former Union Minister Hansraj Gangaram Ahir assumed charge as Chairperson of the National Commission for Backward Classes (NCBC).

  • He belongs to District Chandrapur, State of Maharashtra. He is an Agriculturist by profession, He had been elected four times Member of Parliament from Parliamentary Constituency Chandrapur, Maharashtra and also he was Member of the Maharashtra Legislative Council. He had been Union Minister of State for Home Affairs and Union Minister of State for Chemicals and Fertilizers, Government of India the 16th Lok Sabha.

Indian Tech Brand Noise appoints Virat Kohli as new Brand Ambassador
Noise, India’s consumer tech brand has roped in the youth icon cricketer- Virat Kohli as its new brand ambassador for their smartwatch series.

  • The new partnership will bring together the two domains together which is said to exemplify the brand. The partnership will further help in deepening consumer trust and allegiance.


AWARDS

India’s Greenhouse-In-A-Box Startup Kheyti won Earthshot Prize 2022
A Greenhouse-in-a-Box sustainable solution for small farmers devised by Telangana startup Kheyti has won the 1 million pounds Earthshot Prize, founded by Britain’s Prince William and dubbed the Eco Oscars’.

  • Kheyti, one of the five winners at a gala green carpet awards ceremony in Boston night, won the prize in the Protect and Restore Nature category from hundreds of entries worldwide.
  • The pioneering solution for local smallholder farmers is designed to reduce costs, increase yields and protect livelihoods in a region on the frontlines of climate change.

New York Film Critics Circle awards 2022: Filmmaker SS Rajamouli won Best Director
Tollywood hitmaker S.S. Rajamouli has won the best director award from the New York Film Critics Circle (NYFCC) for his epic adventure film ‘RRR’, reports ‘Variety’. The awards are seen as the bellwether for the upcoming Hollywood awards season.

  • Although ‘RRR’ wasn’t selected to represent India in the international feature category of the Academy Awards, Variance Films has mounted a substantial campaign to have the film recognised in the general categories, including best picture. And as ‘Variety’ puts it, it looks like it could be paying off. Rajamouli’s win has been described as ‘one of the jaw-droppers’ of the evening.

Canara Bank won Banker’s Bank of the year Award
Canara Bank announced in a statement that it has won the “Banker’s Bank of the Year Award 2022” for the Indian segment of the Global Banking Summit.

  • The event took place in London from November 29 to December 1, 2022 and L V Prabhakar, the bank’s MD and CEO, accepted the award from the organiers, the bank said.
  • According to the statement, the Bankers’ Bank of the Year Award is considered to be like Oscar award for the banking sector and the winners are judged on their ability to deliver returns, strategy, innovation, technology and product and services in their respective geographies in the last 12 months.


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