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Daily Current Affairs 17th December 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 17th December2023. It includes all Major National, International, Business and Sports related current affairs of 17th 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 17th December2023 Current affairs test.


Banking and Finance Developments

1. Uttarakhand’s Power Enhancement with India-ADB Loan

  • The Indian government and the Asian Development Bank have inked a deal for a $200 million loan.
  • This loan is designated for the Uttarakhand Power System Project, aiming to improve power supply quality, efficiency, and reliability.
  • Part of the broader Uttarakhand Climate Resilient Power System Development Project, including an overhaul of the power network and modernization efforts in Dehradun.

2. RBI Observes Uptick in State Security Yields

  • The Reserve Bank of India’s recent report notes a 73 basis points escalation in the average yield of State Government Security issuances.
  • The report, titled “State Finances: A Study of Budgets of 2023-24,” highlights a decline in the spread between State and Central government securities.
  • It also mentions a shift in the maturity composition of issuances and an increase in state net market borrowings.

3. SBI’s New Solar Initiative with KfW

  • The State Bank of India announces a new agreement with KfW, entailing a €70 million line of credit for supporting solar energy projects in India.
  • This agreement aligns with SBI’s significant growth in net profit and overall income reported in the recent quarter.

4. PNB Housing’s Milestone in Affordable Housing

  • PNB Housing Finance achieves a loan book size of ₹1,000 crore in the affordable housing segment.
  • They aim to double this figure by March 2025, as part of the Roshni scheme, and plan to expand their branch network.

5. YES Bank’s NPA Divestment Plans

  • YES Bank is actively seeking buyers for non-performing assets worth ₹4,234 crore, focusing on securing upfront cash payments.
  • This follows the bank’s previous large-scale sale of non-performing loans and a report of increasing gross NPAs.

6. Major NPA Transfer to NARCL by PSBs

  • Ten Public Sector Banks have transferred non-performing assets worth over ₹11,617 crore to the National Asset Reconstruction Company Limited (NARCL).
  • Notable contributions come from banks like SBI, PNB, and Canara Bank.

National News Updates

7. PM Modi’s Inauguration of Kashi Tamil Sangamam

  • Prime Minister Narendra Modi launches the second phase of the Kashi Tamil Sangamam event in Varanasi.
  • The event, attended by a special delegation of Tamil students, is spearheaded by the Ministry of Education with collaboration across multiple ministries.

8. Unnati Foundation’s SSE Milestone

  • The Unnati Foundation becomes the first to be listed on the Social Stock Exchanges.
  • During its fundraising phase, the non-profit organization successfully raised ₹1.8 crore, setting a precedent for other NPOs.

Business News Insights

9. Surge in Retail Inflation

  • November 2023 witnessed a notable increase in retail inflation, reaching 5.55%, its highest in three months.
  • The increase is driven primarily by rising food prices, with marked differences in inflation rates between rural and urban areas, as well as across different states.

Awards and Recognition

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10. Javed Akhtar’s Prestigious Award

  • Javed Akhtar, a renowned lyricist and screenwriter, is set to receive the esteemed Padmapani Lifetime Achievement Award at the Ajanta-Ellora Film Festival.
  • The ceremony will be hosted at the Rukmini Auditorium of the MGM University campus.

Sports News Briefs

11. Khelo India Games in Tamil Nadu

  • Scheduled for January 2024, the Khelo India Games are set to take place across multiple cities in Tamil Nadu, including Chennai, Coimbatore, Madurai, and Trichy.
  • The event is expected to see vast participation from athletes, coaches, referees, and volunteers.
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