Daily Current Affairs 16th December, 2023

Daily Current Affairs 16th December 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 16th December2023. It includes all Major National, International, Business and Sports related current affairs of 16th December2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 16th December2023 Current affairs test.

BANKING & FINANCE UPDATES

1. PeepalCo Launched by CoinSwitch for Expanded Wealth Tech Services

• CoinSwitch unveils PeepalCo, its new umbrella brand encompassing various business segments.
• The PeepalCo suite includes the CoinSwitch crypto app and CoinSwitch PRO for advanced trading.
• This strategic move focuses on fostering innovation and meeting regulatory compliance.
• Balaji Srihari steps in as the new Business Head of CoinSwitch.

2. Federal Bank Earns “Bank of the Year India” Title

• The Banker magazine honors Federal Bank as “Bank of the Year (India)”.
• This recognition highlights Federal Bank’s innovative, customer-focused services and industry contributions.
• The bank’s initiatives like Digital Personal Loan and ‘Bank on the Go’ mobile service are noted.
• Introduction of the AI chatbot “Feddy” to improve customer support.

3. ICICI Bank Partners with iVIS for Enhanced E-Surveillance

• iVIS joins hands with ICICI Bank to offer AI/ML and IoT-based e-surveillance services.
• These services include real-time video monitoring, facial recognition, and advanced data analytics.
• Aimed at reinforcing security at bank branches, ATMs, and cash counters.
• iVIS currently manages security for 20,000 banking and ATM sites nationally.

4. Intellect Clinches ₹80 Crore Deal with Indian Bank

• Intellect Design Arena signs a substantial ₹80 crore contract with Indian Bank for a Cash Management System.
• This agreement is part of Indian Bank’s ‘INDLEAP’ digital overhaul initiative.
• Intellect will provide solutions including Omni-channel access and a treasury-aligned dashboard.
• Indian Bank, with its vast customer base, operates numerous ATMs and branches.

NATIONAL NEWS BRIEF

5. Digital Solutions MoU between India and Tanzania

• The Indian government approves an MoU with Tanzania for sharing digital transformation solutions.
• This MoU aims to augment cooperation in Digital Public Infrastructure (DPI).
• It aligns with India’s Digital India and Atmanirbhar Bharat missions, focusing on IT collaboration.

6. India and U.S. Commit to Innovation Enhancement

• An MoU between India and the U.S. to boost their innovation ecosystems receives Cabinet approval.
• The MoU targets supply chain resilience, climate cooperation, and the digital economy.
• Introduction of the Talent, Innovation, and Inclusive Growth (TIIG) Working Group.
• Aims to fortify business opportunities in the technology sector.

7. India-Saudi Arabia Accord on Digitization and Manufacturing

• India and Saudi Arabia’s MoC for collaboration in digitization and electronic manufacturing gets the nod.
• The MoC will focus on AI, IoT, Cloud Computing, and Blockchain technologies.
• Emphasizes e-Governance, smart infrastructure, and innovative educational programs.
• Aims to foster research partnerships in digital innovations.

8. Industrial Property Rights MoU Signed Between India and Italy

• The Indian Cabinet approves an MoU with Italy focusing on Industrial Property Rights cooperation.
• This MoU is set to enhance IP services and IT cooperation.
• It’s designed to support enterprises, especially startups and SMEs, in navigating IPR systems.
• The goal is to streamline IPR application processes.

9. Surat Airport Elevated to International Status

• The Indian government declares Surat Airport as an International Airport.
• This upgrade is expected to spur economic growth, facilitate global travel, and aid in trade.
• It’s a strategic decision for regional advancement and international relations.

INTERNATIONAL NEWS ROUNDUP

10. GPAI Summit Inaugurated in India by PM Modi

• Prime Minister Modi launches the Global Partnership on Artificial Intelligence (GPAI) Summit in New Delhi.
• India is slated tolead GPAI in 2024 and host the summit.
• The summit concentrates on AI for societal progress, inclusive growth, and practical applications.
• Includes sessions on AI’s role in health, education, data governance, and machine learning.

11. Geraldo Martins Reappointed as Prime Minister in Guinea-Bissau

• Guinea-Bissau’s President Umaro Sissoco Embalo reinstates Geraldo Martins as Prime Minister.
• Martins, having previously served as finance minister, is part of the opposition coalition.

DEFENCE SECTOR NEWS

12. IndiGo’s Aircraft Leasing Venture in IFSC Gift City Approved

• IndiGo’s parent company receives green light to establish an aircraft leasing business in IFSC Gift City.
• Plans to invest about ₹11,500 crore in this sector over the next five years.
• The focus is on various leasing services related to aircraft.

13. Digital Coast Guard Project Contract Awarded by MoD

• The Ministry of Defence signs a ₹588.68 crore contract with TCIL for the Digital Coast Guard project.
• The project encompasses a state-of-the-art Data Centre, ERP system, and superior connectivity.
• Projected to create significant employment over five years.
• Aligns with the vision of a digitalized Armed Forces.

SCIENCE & TECHNOLOGY ADVANCEMENTS

14. Geojit’s New Sustainability Centre of Excellence

• Geojit Financial Services establishes a Sustainability Centre of Excellence at Cochin University.
• Commits an endowment of ₹5 crore over four years.
• Focuses on sustainability research, education, consulting, and innovation.
• Aims to contribute to environmental, social, and governance (ESG) objectives.

15. Iran Showcases Upgraded Karrar Drones

• Iran unveils its enhanced Karrar combat drones, now equipped with air-to-air missiles.
• The Karrar is Iran’s first long-range, combat-ready drone.
• Features include a 1,000-kilometer range, 560 mph speed, and a 47,000 feet service ceiling.
• The drone is armed with the Majid air defence missile, effective up to 8 kilometers.

IMPORTANT DAYS

16. Vijay Diwas Celebrated on 16th December

• December 16th marks Vijay Diwas, commemorating the Indian Armed Forces’ victory in 1971’s ‘Operation: Vijay’.
• The day honors the liberation of Bangladesh and pays tribute to fallen soldiers.
• The operation, concluding in just 13 days, is noted for being one of history’s briefest wars.