Daily Current Affairs 22nd December, 2023

Daily Current Affairs 22nd December 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 22nd December2023. It includes all Major National, International, Business and Sports related current affairs of 22nd 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 22nd December2023 Current affairs test.

National News

1. HDFC Life’s Partnership with Karur Vysya Bank

• Karur Vysya Bank (KVB) and HDFC Life Insurance have formed a corporate agency partnership.
• This agreement enables KVB customers to access a variety of life insurance offerings from HDFC Life, including protection, savings, and investment plans.
• The partnership aligns with the Insurance Regulatory and Development Authority’s vision of achieving universal insurance coverage by 2047.
• HDFC Life offers an online claim process, facilitating remote service access for customers.
• Key Entities:
  • HDFC Life: Established in 2000, headquartered in Mumbai, led by MD & CEO Vibha Padalkar.
  • Karur Vysya Bank: Founded in 1916, based in Karur, Tamil Nadu, with MD & CEO Mr. Ramesh Babu.

2. LIC’s Role in NABARD’s Bond Sale

• Life Insurance Corp (LIC) is a primary investor in NABARD’s ₹5,000 crore infrastructure bond sale on December 20, 2023.
• LIC will invest ₹1,500 crore, representing 30% of the bond sale.
• LIC has a substantial presence in the bond market, holding about 22% share, and 4% in Indian equities.
• The bonds, maturing in 2034, have received an AAA rating from ICRA and India Ratings.
• Earlier, LIC invested in a bond sale by Reliance Industries.
• Key Entities:
  • LIC: Founded on September 1, 1956, with MD Siddhartha Mohanty, headquartered in Mumbai.
  • NABARD: Based in Mumbai, chaired by Shri. Shaji K V.

3. Launch of One Nation Corporate Card

• PayCraft Solutions, NSDL Payments Bank, and NPCI collaborate to introduce the One Nation Corporate Card.
• The card offers tax benefits for employees and supports business expenses for corporates and SMEs.
• It functions as a National Transit Card and adheres to National Common Mobility Card standards.
• Key Entities:
  • PayCraft: Founded in 2013, headquartered in Mumbai, led by CEO Ambarish Parekh.
  • NSDL Payments Bank and NPCI are also based in Mumbai.

4. U GRO Capital’s Funding from FMO

• U GRO Capital secures ₹250 crore (approx. USD 30 million) from Dutch Development Bank FMO through non-convertible debentures.
• FMO’s investment focuses on sectors like agribusiness, energy, and financial institutions.
• The MSME sector has seen a significant increase in priority sector lending.
• U GRO Capital has extended credit to over 80,000 small businesses in five years.
• Key Entity: U GRO Capital: Based in Mumbai, founded by Shachindra Nath.

5. CASHe’s Transformation to ‘Bharat Ka Money App’

• CASHe, a financial wellness platform, rebrands as ‘Bharat Ka Money App.’
• The super app integrates credit, investment, and insurance services.
• A new website and mobile application have been launched to strengthen its national presence.
• Key Entity: CASHe: Established in 2016, headquartered in Mumbai, led by CEO Yashoraj Tyagi.

6. India’s Growing Coal Demand – IEA Report

• The International Energy Agency forecasts India’s coal demand to grow by 3.5% annually until 2026.
• India’s coal demand is projected to constitute 14% of the global demand.
• The IEA predicts a consistent rise in coal consumption for power generation.
• India ranks as the second-largest consumer of coal globally.

7. Revised Criminal Bills Introduced by Amit Shah

• Union Home Minister Amit Shah introduces three updated Bills in the Lok Sabha.
• The Bills aim to modernize British-era criminal laws, incorporating changes recommended by a parliamentary committee.
• Notable inclusions are an expanded definition of terrorist acts, retention of the death penalty, and modifications in rape case proceedings.

8. Australia’s Encounter with Tropical Cyclone Jasper

• Tropical Cyclone Jasper impacts northeastern Australia, causing widespread disruptions.
• The cyclone’s slow progress indicates extended effects in some regions.
• Locally known as “willy-willy,” the cyclone has brought significant challenges to coastal communities.

9. Madhya Pradesh’s Prime Minister College of Excellence Initiative

• The Madhya Pradesh government plans to establish a Prime Minister College of Excellence in each district.
• A significant budget allocation has been made for these colleges.
• The initiative includes digitizing educational documents and other innovative measures.

10. Shift in India’s Trade Deficit in November

• India’s trade deficit reduced to $20.58 billion in November 2023.
• Both exports and imports have shown a decline.
• The MSME sector received considerable priority sector lending.

11. Reduction in India’s Logistics Costs

• The National Council of Applied Economic Research reports a decrease in logistics costs as a percentage of GDP.
• The National Logistics Policy aims to further reduce these costs and improve global rankings.

12. Approval for Pinaka Rocket Acquisition

• The Defense Ministry approves the purchase of 6,400 rockets for the Pinaka weapon system.
• The procurement emphasizes India’s focus on self-reliance in defense.

13. ISRO’s Chandrayaan-4 Mission Plans

• ISRO plans the Chandrayaan-4 mission to collect lunar samples.
• The agency also aims to launch a module for its space station by 2028.

14. Projected Rise in Women Voters in India

• A State Bank of India report predicts that women voters will outnumber men voters by 2029.
• The report highlights women’s underestimated contribution to the economy.

15. WHO’s Road Safety Report Highlights

• The WHO reports a global decrease in road traffic deaths, but India shows an increase.

16. Leadership Change in Wrestling Federation of India

• Sanjay Singh is elected as the new president of the Wrestling Federation of India.
• Olympic medalist Sakshi Malik retires following the election.

17. Observance of National Mathematics Day

• December 22 is marked as National Mathematics Day in honor of mathematician Srinivasa Ramanujan.